Seven Tides launches deferred payment plan for limited number of Anantara Residences

Seven Tides launches deferred payment plan for limited number of Anantara Residences

Attractive buy now, pay later scheme launched as UAE luxury developer targets GCC investors with final payment hiatus proposition

Investors interested in buying units within the luxury Anantara Residences Palm Jumeirah community from Seven Tides will have the opportunity to take advantage of a new nine month deferred payment plan.

A limited number of one and two-bedroom apartments have been made available in the North and South Residences following the successful sales performance of an earlier release of South Residences in May 2014.

The 20/80 payment plan requires a minimum 20% deposit of the total unit price with the balance deferred for nine months from date of purchase, allowing buyers to take immediate possession of their new home with developer Seven Tides covering all service charges for the period covered.

“Investors will be able to see an immediate return on their investment, especially with the benefit of up to nine months’ deferred payments, on the remaining balance. This targets the smaller independent investor who may have the capital to secure a property, but need more time to fund an outright purchase,” said

Abdulla Bin Sulayem, CEO, Seven Tides.

An investor-led product with a positive outlook in terms of capital appreciation, buyers have several options when looking at maximising the return on their investment including the ability to resell the property once it is fully paid for, or alternatively enter the hotel’s rental programme after the nine month period.

The hotel-managed rental yield is certainly an additional benefit to be considered for investors, given the comparative rental prices with a normal residential unit. A one-bedroom apartment is AED 2.7 million and a Palm Jumeirah Shoreline apartment of similar size (1,184 square feet), in the Jash Falqa building is on the market for approximately the same amount. According to property experts Asteco, Shoreline apartments command an annual rental rate of approximately AED 150,000.

“In comparison, the Middle East Cities Hotel Forecast 2014-15 report from PwC expects a 4.7% increase in the average daily rate for a hotel room in Dubai this year, with a figure of AED 936.10,” added Bin Sulayem.

“Investors will be drawn to the appeal of a hotel room, or indeed a residence with access to five-star resort hotel facilities, which could generate a maximum annual rental income of as much as AED 273,341 if hotel occupancies mirror the 2013 average of 80%. This is just under double the AED 150,000 a comparative apartment realises on an annual basis, this rental yield will then be put towards the balance of the unit price,” he remarked.

Residence home-owners will also have exclusive access to the Anantara Dubai Palm Jumeirah, Resort & Spa. The hotel facilities available include a gym, 107,600-square feet of temperature controlled lagoon pools, a signature spa plus six dining and entertainment venues.

Anantara Residences is a collection of 442 luxury apartments and 14 penthouses are fronted by a private stretch of white sand beach with all residences enjoying spectacular panoramic views of the Arabian Gulf, Atlantis hotel, Burj Al Arab and the Dubai Marina skyline.

About Seven Tides

Based in Dubai, the United Arab Emirates, privately owned Seven Tides is an internationally oriented holding company established in 2004. Currently focusing on hospitality and real estate sectors, Seven Tides thinks progressively, works creatively, partners strategically and acts quickly. The result is a current portfolio of offerings from landmark hospitality acquisitions and commercial buildings to residential towers and multi-use complexes in the gateway cities of London and Dubai.

Seven Tides to launch second phase of Anantara Residences after Palm Jumeirah apartment prices increase 43% in 2013

Seven Tides to launch second phase of Anantara Residences after Palm Jumeirah apartment prices increase 43% in 2013  

UAE developer to launch next phase of luxury Palm Jumeirah apartments after average sales prices for apartments on The Palm increase 43% over past year

Dubai-based developer Seven Tides is preparing to launch phase two of its deluxe Anantara Residences development after selling 80% (77 units) of the luxury apartments in its first phase and as robust demand pushes apartment sales prices on The Palm up by an average of 43% during 2013.

Apartment sales on Palm Jumeirah increased by 21% in the final quarter of 2013, rising from an average of AED 1,650 to AED 2,000 per square foot and 43%, once compared with prices a year earlier in Q4 2013, according the latest Q4 report from Dubai-based property management company Asteco. 

“We will launch the next phase of our Anantara Residences project, having secured sales for 80% of our existing stock in phase 1,” said Seven Tides’ CEO, Abdulla Bin Sulayem.

“The market is exceptionally buoyant at the moment and property on the Palm Jumeirah is highly sought after, so it is a good time to release the second phase of our luxury development,” added Bin Sulayem.

The Anantara Residences second phase will be launched at the ‘Next Move’ consumer real estate event that is taking place at the Madinat Jumeirah on 20-22 February. Specifically, Seven Tides will be releasing two floors (3&7) consisting of 64 units. Senior executives will be on-hand to offer additional information and advice and of course arrange site visits.

“The fact that the apartments are already constructed is obviously a distinct advantage for investors who can sign today and be swimming in the lagoons and enjoying the Palm Jumeirah lifestyle tomorrow,” said Bin Sulayem.

The collection of 442 luxury apartments and 14 penthouses, which range in size from 1,158 up to 9,500 square feet, are fronted by a private stretch of white sand beach, with all residences enjoying spectacular panoramic views of the Arabian Gulf, Atlantis hotel, Burj Al Arab and the Dubai Marina skyline.

Prices for the Anantara Residences units start from AED 2.6 million with buyers also able to enjoy exclusive access to the adjacent 293-room five-star Anantara Dubai Palm Jumeirah, Resort & Spa, with a gym, 107,600-square feet of temperature controlled lagoon pools, six dining and entertainment venues and Anantara Spa.

“Another unique aspect of this project, Anantara Residence owners can take advantage of a flexible management option, whereby the five-star deluxe Anantara hotel will actually manage the property on behalf of owners, realising rental income when their apartment is not occupied,” said Bin Sulayem.

There are also a limited number of three and four-bedroom penthouses, each with sunken swimming pools, private terraces and balconies offering up to an additional 3,300 square feet of space for relaxation and entertaining.  Potential penthouse owners also have the option of fully customising their interiors.

Visit the Anantara Residences Dubai Palm Jumeirah at the Next Move Property Show, Madinat Jumeirah, Stand A27

For sales enquiries, please contact: +9714 4204892 or email sales@seventides.com    

Photo One: View from the Anantara Dubai Palm Jumeirah Residences.

Photo Two: Interiors of the Anantara Dubai Palm Jumeirah Residences.

Photo Three: Abdulla Bin Sulayem, CEO, Seven Tides.

For more information, please visit www.anantararesidences.com, www.seventides.com

About Seven Tides

Based in Dubai, the United Arab Emirates, privately owned Seven Tides is an internationally oriented holding company established in 2004. Currently focusing on hospitality and real estate sectors, Seven Tides thinks progressively, works creatively, partners strategically and acts quickly. The result is a current portfolio of offerings from landmark hospitality acquisitions and commercial buildings to residential towers and multi-use complexes in the gateway cities of London and Dubai.

Investors turn to hotel residences to double ROI

Investors turn to hotel residences to double ROI

Return on investment potential for hotel residences can be up to double that of independent apartments; high spec ‘des res’ apartments at Anantara Residences on Palm Jumeirah will highlight growing trend at Cityscape showcase

Dubai-based developer Seven Tides is receiving increasing interest from local regional and international investors for its exclusive Anantara Residences Dubai, situated on Palm Jumeirah, ahead of its debut at the Cityscape exhibition which opens 8 October 2013.

The fully furnished Anantara Residences comprise a total of 442 one and two-bedroom apartments, ranging from 1,158 to 1,524-square feet and 1,743 to 2,867 square feet respectively, with terrace or balcony spaces, the majority with sea views. There is also a limited number of three - four bedroom penthouses, offering up to an additional 3,200 square feet of space.

“The starting price for a one-bedroom apartment is AED2.4 million. In comparison a Palm Jumeirah Shoreline apartment of similar size (1,184 square feet), in the Jash Falqa building is on the market for AED2.2 million. But in terms of financials that is where any similarity ends,” commented Abdulla Bin Sulayem, CEO, Seven Tides.

According to property experts Asteco, these Shoreline apartments only command an annual rental rate of approximately AED100,000. But Dubai Government’s Department of Tourism and Commerce Marketing (DTCM) has estimated that the average rate for a hotel room in Dubai last year was AED607 with a forecast for 2013 of AED637. The DTCM also claimed that hotel occupancy rates in 2012 were running at an average of 81.8%, again with a positive outlook for 2013.

Therefore a hotel room (or residence with access to five-star resort hotel facilities) could generate as much as AED190,200, almost double the AED100,000 annual rent a Shoreline apartment realises.

“Of course there are management fees involved but equally it could be argued that the DTCM figures are average rates - Anantara is a luxury five-star resort and as such would attract room rates at the top end of the scale. What is clear is that investors not only have options, but they can potentially realise up to 8.2% return on investment, based on the DTCM’s average rates, not to mention capital appreciation. According to the Asteco H1 2013 report, Dubai apartment sales prices are currently growing by 38% annually.

“Many investors are now looking for the flexibility to generate supplementary income by leasing their apartments when they are not in Dubai. So far in terms of nationality breakdown, the bulk of our investors have come from the UAE 22%; Russia - 20%; UK – 14%; India - 12% and Kuwait and Qatar 8% respectively,” said Bin Sulayem.

Another potential bonus for investors is of course Dubai’s Expo 2020 bid. If it is successful, this type of leasing could become extremely popular with project consultants for example, who may need to travel to Dubai on a regular basis for a number of weeks at a time during the build up period. In the unlikely event that the Dubai bid is not chosen, the amount already committed to infrastructure projects will still provoke demand for flexible accommodation.

Facilities at the 293-room five-star Anantara Dubai Palm Jumeirah, Resort & Spa, which opened recently, include a gym, 107,600-square feet of temperature controlled lagoon pools, six dining and entertainment venues and the Anantara Spa.

Not that the view from the apartments is anything to complain about. The collection of 442 luxury apartments and 14 penthouses are fronted by a private stretch of white sand beach with all residences enjoying spectacular panoramic views of the Arabian Gulf, Atlantis hotel, Burj Al Arab and the Dubai Marina skyline.

Visit the Anantara Residences Dubai Palm Jumeirah at Cityscape: Hall 8, Stand # 8A05


Photo One: View from the Anantara Residences Dubai Palm Jumeirah.

Photo Two: Interiors of the Anantara Residences Dubai Palm Jumeirah.

For more information, please visit www.seventides.com

About Seven Tides

Based in Dubai, the United Arab Emirates, privately owned Seven Tides is an internationally oriented holding company established in 2004. Currently focusing on hospitality and real estate sectors, Seven Tides thinks progressively, works creatively, partners strategically and acts quickly. The result is a current portfolio of offerings from landmark hospitality acquisitions and commercial buildings to residential towers and multi-use complexes in the gateway cities of London and Dubai.