The developer of luxury homes and hotels, Seven Tides, has disclosed that their complexes in Discovery Gardens (DG) and The Residences at Ibn Battuta Gate (RIBG) have achieved record occupancy levels of 99.21% and 98.58%, respectively, thanks to their competitive pricing strategies.
One-bedroom apartments in Discovery Gardens can be leased for just AED 56,500 annually, including amenities, while two-bedroom apartments can be hired for just AED 75,000 annually.
The community’s ten buildings owned by Seven Tides total 1,528 apartments in a modern residential setting that offers a global way of life. It is in a prime location with quick access to JLT and Dubai Marina via its Metro station.
Swimming pools, tennis courts, kid-friendly play areas, basketball and volleyball courts, a mosque, and running and cycling routes can all be found at Discovery Gardens.
CEO of Seven Tides Abdulla Bin Sulayem said, “This is an affordable lifestyle in a family-friendly neighborhood, conveniently located, with first-rate services. Only 12 unoccupied units offer our residents a fantastic value overall.
“While the demand for value-driven housing has been consistently strong and will continue uninterrupted as the Dubai economy continues to thrive, stimulating the rise of the expatriate community,” he added. “Much has been made of the luxury real estate market in Dubai.
The Residences at Ibn Battuta Gate, another Seven Tides project, has a similar tale. With 141 apartments, the starting annual rent for a 702-861 square foot one-bedroom apartment with a balcony is AED 69,000, while the starting yearly rent for a 1027-1274 square foot two-bedroom apartment with a balcony costs AED 87,000. Both prices include utilities, chiller fees, Wi-Fi, and Cable TV.
Additionally, residents can access several dining options at the nearby five-star Oaks Ibn Battuta Gate Dubai Hotel. Also nearby are the IBG Metro station and the Ibn Battuta Mall, the biggest themed mall in the world with close to 400 stores, a multiplex cinema, and a sizable food court.
The average length of tenancy in both developments is over three years, which fosters a sense of community among residents and motivates them to renew their leases and refer their neighbors to them, continued Bin Sulayem.
With an occupancy rate of 98.29%, the 467 offices at IBG, which total 430,000 square feet, are likewise in high demand. Seven Tides’ value-led market proposition has once again driven the excellent tenancy rate, with offices between 300 and 999 square feet starting at AED 100 per square foot.