Cirrus Developments sells out Dhs3bn dirham Aquarius Gate at Waterfront in launch week

Cirrus confirmed that all bulk residential and commercial units had been sold off-plan to investors within a few days of pre-launch.

It is now releasing a limited number of individual units for end users.

An exclusive sales event was held last week at The Jumeirah Beach Hotel where more than 1000 investors witnessed the region’s first high-definition holographic real-estate presentation.

During the evening the final units at Aquarius Gate were sold to investors from Dubai and around the region.

Cirrus Developments was joined by its trust account partner, Badr Al Islami, and Nakheel to present the opportunity to potential investors.

Mubashar Khokhar, CEO, Badr Al-Islami commented: “We are extremely pleased to be associated once again with Cirrus Developments. With our combined efforts, this partnership provides investors the ideal financing package as we continue to offer our customers’ innovative products and quality service”.

Conrad Groen, the Development Director of Madinat Al Arab said: “Cirrus’ professionalism is second to none. We are delighted that Cirrus Developments has made every attempt to conform to Waterfront’s stringent development regulations and feel confident that Aquarius Gate will be a resounding success and extend our very best wishes to Cirrus Developments”.

Mr. Behnam Eshragh, Chairman & CEO of Cirrus Developments said: “The success of Aquarius Gate is pleasing but should not come as a surprise”.

“The development is a ‘first’ in many ways and was bound to attract investors looking to make a sound investment and buy early on Nakheel’s Waterfront development. It is the first and largest private development at Waterfront to date with commercial and residential units, and have full technical approval from Nakheel including Traffic Impact Study to consider the requirements of the RTA (Roads & Transport Authority) and an Environmental Impact Study which aims to achieve LEED (Leadership in Environmental Design Green Building Rating System) Gold accreditation”.

Aquarius Gate is the second major development to be launched by Cirrus in Dubai, following the very successful launch of Celestial Heights – the first project which was launched in Downtown Jebel Ali last year, and the first project in U.A.E. with a RERA approved trust account operational before starting off-plan sales.

Aquarius Gate comprises of two towers – one residential and one commercial – and is located in Madinat Al Arab, the premier beachfront community in the Waterfront.

It is conveniently close to beaches, the metro station, shops, restaurants, parks and other amenities.

One side of the development will be dedicated to an art wall which will showcase Islamic art from around the world.

Martin Akshuri, Head of Sales at Cirrus Developments comments: “From the moment we revealed Aquarius Gate it generated a lot of interest from buyers around the region. It offers the right combination of location, price and quality and investors have shown that they agree with us. We thank everyone who has joined us in this exciting and unique opportunity”.

Located on the western shores of Dubai, Nakheel’s Waterfront will transform 1.4 billion square feet of empty desert and sea into an international community for an estimated population of 1.5 million people that is twice the size of Hong Kong Island.

Waterfront is being developed on the last 15km of natural coastline in Dubai and will provide more than 70km of coastline in total, including the development of 23% of the Arabian Canal.