Launch of ‘Akoya by DAMAC’ golf community
28 million sq ft mixed use master-planned development to be situated in Dubailand.
DAMAC Properties has announced the launch of a 28 million square foot golf community development which is to be located off the Umm Suqeuim Road on land purchased from Dubailand.
The project will be the largest to date by DAMAC which is already one of the biggest developers in the region, having completed 37 buildings with a combined total built-up area of almost 14 million square feet.
According to company chairman Hussein Sajwani, "Akoya by DAMAC" (which has been named after one of the world's most exclusive pearls), will become "the most desirable living environment in Dubai for aspirational professionals who recognise ultimate luxury.”
An 18-hole PGA Championship Golf course forms the centrepiece of the project's ambitious masterplan, which provides additionally for high-end residential buildings, hotel and leisure facilities, and schools for community residents.
The development will also feature a shopping centre and the the company says it has entered into "advanced discussions" with a number of leading global brands.
In justifying the project, the company cites a recent Jones Lang LaSalle finding that apartment and villa valuations in prime Dubai locations rose by 18 per cent during the first quarter of 2013.