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Dubai: Banyan Tree Residences debuts with AED100mn sales

UAE-based developer, Sweid & Sweid, announced that it has sold over AED100mn during the pre-launch phase of the Middle East’s first Banyan Tree Residences during the first month of sales.

Due for handover in just 17 months (Q3 2019), the G+31 storey tower will become Dubai’s first urban residential resort. Located on a 10,219sqm site, 90% of the area has been dedicated to resort-style amenities and lush landscaping – with the remaining 10% for the tower footprint.

The property’s amenities feature a free-standing residents only clubhouse including a Banyan Tree Spa (with Banyan Tree Academy trained therapists), a fitness centre with saunas and squash court, an indoor children’s play area, and a poolside cafe. Outdoors, the residents will enjoy a resort pool stretching over 30m, a children’s pool and play areas, and a lawn and flower garden.

Maher Sweid, managing partner for Sweid & Sweid, said: “The Banyan Tree Residences promises to be one of the most prestigious addresses in Dubai. Having all the leisure facilities and amenities in a setting that provides residents with rarely-found abundant green space, we are confident that tremendous value will be created for buyers and investors for the years to come.

“Our design, construction and procurement track record stemming from our heritage and experience as industry leading fit-out contractors has joined with the Banyan Tree design team to ensure no stone has been left unturned in achieving the highest standards.”

Prices start from AED1.49mn for a one-bedroom, AED2.3mn for a two-bedroom, and AED3.9mn for a three-bedroom unit. With just a 5% reservation fee the residences are being marketed on a 30:70 payment plan with banks offering a 20+ year mortgage on the 70% final payment.

“We’re seeing a lot of demand for larger units – especially the duplex apartments, which offer private gardens and double-storey living rooms, a unique aspect of the project. We have purposefully incorporated several differentiating design factors in every apartment to ensure we offer something unique to our competitors. Our quality finishes and
exceptional residents facilities under a globally recognized brand creates a strong value proposition which has seen Banyan Tree Residences bucking current market trends and proving to be a major success with buyers,” added Sweid.

The development includes over 10,000 plants and trees, creating an urban oasis and living experience more commonly found in luxury hotels and resorts. Interior finishes include Grohe fixtures and Villeroy and Boch sanitary ware. The custom Italian-made kitchens and wardrobes feature quartz and Zebrano wood detailing with Siemens and Smeg stainless steel appliances.

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