Zabeel Investments confirms development sales of 65 percent at Tiara Residence

Situated on the Palm Jumeirah, the seven 15-storey buildings, each with a penthouse floor, provide spacious living from 1,300 to 2,250 square feet apartments, unrivalled privacy and quality living.

Zabeel Investments Executive Chairman, Mohammed Al Hashimi, said: 'With 16 months to go, and 65 percent of Tiara Residence already gone, we are pleased with the performance of the development. It has only been five months since we launched the project, and the outstanding sales demonstrate a clear need in the market for luxury residential property that maintains a feel of community with the benefit of exclusivity.'

This announcement comes shortly after Zabeel Investments unveiled an equity partnership with Asteco, one of the UAE's leading property services company's, which has the exclusive rights on selling and leasing the Tiara Residence. The partnership has already seen the creation of a 30 percent rental return guarantee scheme over a period of three years for owners, which could generate a yearly return that is equivalent to 10 percent of the original price of the property for a period of three years.

'Asteco has been working hard on achieving their targets, and finding the right owner/occupier mix for Tiara. Zabeel Investments is committed to delivering quality to its customers and aims to cement an excellent relationship with them. The provision of a guaranteed rental scheme is tailored for both existing and potential buyers, it's a valuable and unique opportunity,' continued Al Hashimi.

Asteco's Director of Sales & Leasing, James Knowles, commented: 'Developers have traditionally offered eight percent rental guarantees on their properties, however Zabeel Investments has raised the bar with an offer of 10 percent on the Tiara Residence. The sales performance has certainly increased since launching the offer, much more than we had initially anticipated. It makes sound financial sense for investors purchasing property.'

The Tiara Residence will also include the luxurious Anantara Resort & Spa, a distinctive destination in its own right, epitomising true elegance and style as well as offering the finest traditions of Asian hospitality. Tiara Residence owners, will be able to enjoy the amenities and facilities of the hotel, while maintaining their own residence in the gated community.

Knowles continued: 'There has been so much interest in the development, with the rental guarantee proving popular with our discerning customers. We are looking to announce a further sales boost on this limited and exclusive offer.'

The project will have high quality finishes and panoramic views of the gardens, beach and marina. Lush landscaped gardens and a tropical forest also surround the development with streams creating an authentic look of an Asian destination juxtaposed against and overlooking the Arabian Sea.

The architecture of the building represents a contemporary style inspired by its natural surroundings. This will be highlighted with the use of wood as a prominent feature on the exterior as well as forming part of the façade of the buildings. The apartment bedrooms will feature wood flooring with marble flooring in the living and dining room and granite in the kitchen and bathrooms.

A unique feature of the property will be a state of the art integrated audio system featuring discreetly installed speakers in each room, which can then further be connected to a music and home theatre system.