UAE developer posts nearly $82m JLT project sales in a week

Seven Tides says phase one of SE7EN CITY JLT is sold out, launches phase two of Dubai project

UAE developer posts nearly $82m JLT project sales in a week

UAE-based developer Seven Tides has announced that it has sold 661 apartments, valued at more than AED301 million ($81.8 million) since the sales launch of its first mixed-use development in Jumeirah Lakes Towers, Dubai.

The company said phase one of SE7EN CITY JLT was sold out in less than one week, adding that it is now launching phase two of the project.

Abdulla Bin Sulayem, CEO, Seven Tides, said: “This underscores the point that if you offer investors a compelling proposition, based on ROI, location and quality, they will invest irrespective of overall market sentiment and that is essentially, our three-pronged marketing strategy.”

He said studio units proved to be most popular with 572 sales valued at AED226,844,420.

He added that the nationality of investors was one of the most diverse Seven Tides has witnessed in recent years with Indian investors buying 17 percent of the units sold so far, followed by UAE nationals and Pakistani investors and then British, Russian, Saudi and Canadian nationals. More

By Sam Bridge