As concerns over potential oversupply ripple through Dubai’s real estate market, World of Wonders Real Estate Development (WOW RED) has reiterated its strongly held belief that quality, not quantity, is what really counts.
As the sector continues to mature and grow, the city has seen an influx in lower cost housing projects including villa communities and high-rise towers often in new and ‘up and coming’ areas away from the more traditionally desirable locations.
While these new neighborhoods present an attractive option, particularly to first-time buyers and investors, the demand for luxury developments that offer prestigious properties will always remain and continue to grow, said Yahya Alkan, CEO, WOW RED.
“SLS Dubai Hotel & Residences, a 75-storey mixed use high-rise development by WOW RED located in the bustling Downtown Dubai district, is evidence of the city’ consistent, and growing, demand for high-end properties.
“The tower’s diverse range of apartments, high-quality fixtures and fittings, superb amenities and services delivered and managed by sbe, a leading international hospitality group, helps SLS Dubai Hotel & Residences stands alone in a crowded marketplace,” said Mr Alkan.
SLS Dubai Hotel & Residences’ eclectic mix of units gives it a broad appeal to investors and buyers across all segments of the real estate sector, added Mr Alkan.
“SLS Dubai Hotel & Residences is not only one of the region’s tallest hotels and residences, the tower also boasts a diverse selection of residential apartments with a total of 371 units, including spacious studios, three kinds of contemporary one-bed apartments, large two-bed lofts and grand two-bed duplexes.
“The scale and the proposed unique unit mix appeals the attentions of all types of buyers, including single young professionals, couples and families, as well as investors; and we are witnessing that this particular demand on our development justifies the thought process behind creation of this significantly differentiated unit configuration” he said.
Work at the SLS Dubai Hotel & Residences is continuing at a rapid pace as the landmark tower moves swiftly towards its handover deadline of Q3 2020.
This speed of development, along with WOW Red’s reliable ability to meet pre-agreed targets in the construction process and partnership with established and respected contractors, is another key reason why buyers will always be drawn towards quality projects such as SLS Dubai Hotel & Residences, said Mr Alkan.
The construction of SLS Dubai Hotel & Residences enjoys support from acclaimed architecture company AEDAS, interior design by Dubai-based Paul Bishop Design, with essential construction work and services provided by Gunal Construction, along with the best and most experienced suppliers and sub-contracting companies.
“SLS Dubai Hotel & Residences represents WOW RED’s dedication to quality,” said Mr Alkan. “Throughout the construction process, which has been ongoing for 30 months and saw the building officially ‘topped out’ in April this year, we have consistently met our construction milestones.
“This has earned us the trust of clients and partners, which is of huge importance. Our clients feel comfortable and safe in the knowledge that WOW Red is delivering their dream home on target and on time without any problems or delays.”
SLS Dubai Hotel & Residences is now more than 73% complete, making it on target to reach its handover deadline of Q3 2020.
While the speed at which construction has been ongoing at the SLS Dubai Hotel & Residences project has caught the eye, this pace has not seen a drop in standards elsewhere in the development with the high standard of fixtures, fittings and facilities offered throughout the tower all installed, checked and approved with extensive attention to details.
Each unit in the SLS Dubai Hotel & Residences comes with bespoke, European-made fixtures and fittings as standard. These include kitchen sinks by Franke and Villeroy & Boch for sanitary ware.
All built-in kitchen appliances, including dishwasher, double-door refrigerator with freezer, electric hob, oven and washing machine and dryer, are by Electrolux while each bathroom features a rainfall shower and furnishings by Italian brand Gessi, with Italian porcelain ceramic tiles by Lea covering the floors.
The use of high-end equipment extends to the state-of-the-art gym and fitness facilities, which uses the latest workout machines by Italian brand Technogym.
“Home buyers and investors alike will always be drawn to quality developments that offer huge appeal to tenants, great ROI and the security of knowing they will stand the test of time,” said Mr Alkan.
“SLS Dubai Hotel & Residences satisfies each of these demands and goes above beyond the market norms thanks to the hugely attractive finance option offered through our partnership with Dubai Islamic Bank.”
Dubai Islamic Bank will provide eligible buyers of residential units with a 7-year, profit free post-handover payment plan as part of the strategic agreement. The financing product, which is limited to the tower’s 371 residential units, is unique in its affordability and potential to earn returns greater than 10% on investment.
Another unique feature of SLS Dubai Hotel & Residences is ‘The Crown’. Located on the highest floors, ‘The Crown’ is an exciting F&B and lifestyle concept managed by sbe.
‘The Crown’ features the Fi’lia Mediterranean restaurant on the 70th floor, Sky Lobby on the 71st floor, Carna Steakhouse on the 74th floor and the Privilege venue on the 75th floor.
The Ciel Spa & Gym and Vitamin Bar is found on the 69th floor with stylish meeting rooms on the 73rd floor while two stunning infinity pools, located on the 75th floor, are the highest in Dubai and among the highest in the world.
“Developments such as SLS Dubai Hotel & Residences continue to prove that quality will always come first in Dubai real estate market. From day one, our main focus has always been to accomplish our targets by covering all vital development aspects such as choosing the right location, designing and engineering an incomparable product, securing the finance for the entire development and finally bringing on board an internationally renowned life style brand to compliment all these achievements. All for the sake of offering our prospective clients with a product that currently does not exist in Dubai.” said Mr Alkan.
“Home buyers and investors are savvy enough to recognize the importance of locating and securing prestige projects that deliver a higher standard of luxury. Property is a major investment, so it is therefore essential to choose wisely and opt for developments that can consistently produce an attractive ROI and maintain their value.
“SLS Dubai Hotel & Residences, the newest landmark on Dubai’s skyline, stands out from the crowd as a fantastic example of a supremely desirable property that will retain an ever-lasting appeal.”