Dubai’s Damac Sells Out First Release Of AKOYA Oxygen Project On Day One

Dubai developer Damac Properties announced that the first release of houses at its recently revealed master development, AKOYA Oxygen, sold out on the first day of launch.

All sales centres in Dubai selling the development saw “huge numbers of clients and investors” interested in various types of houses within the project, the company said in a statement.

The recently unveiled project is billed as being the ‘first green master development’ in Dubailand and will feature parklands, green open spaces and private gardens. Spread over 55 million sq ft, AKOYA Oxygen will also include an 18-hole championship golf course, to be designed by an ‘international golfing star’.

Ziad El Chaar, MD of Damac Properties said: “The unprecedented success was due to developing a green concept that will be integral to this new community.

“On a project of this scale and size, the open spaces, amenities, gardens and water features will take up approximately 50 per cent of the land and this will create a very attractive place to live and our clients recognised this value.”

The fastest units to sell out were five-bedroom houses, available for Dhs2.5 million, he said.

“On the financial front, our price point offered during the first day of sales was attractive for the different types of clients seeking various properties in term of size, location and amenities,” said El Chaar.

AKOYA Oxygen will feature luxury residential properties along with retail and hospitality products including a five star hotel, a wellness centre featuring wellness therapies, yoga programmes, herbal treatments, diet control and exercise. The community will also include global retail brands, leisure & entertainment offerings, and organic market places.

The second release of AKOYA Oxygen units for sales will be announced “in due course,” said the statement.

The new project comes soon after the successful launch of Damac’s flagship AKOYA By Damac master development which features mansions, villas, luxury apartments and a retail centre all around the Trump International Golf Club.

Damac, one of the most prominent developers in Dubai, has delivered almost 11,000 units to date, with a development portfolio of over 26,000 units at various stages of progress and planning as of June 30.