UAE – Mubasher: The sales of Seven Tides, the Emirati luxury real estate and hospitality developer, surged by 70% in Dubai during December 2019 and January 2020, recording a total value of more than AED 100 million.
Russian investors have dominated the volume of sales over the past two months, followed by Uzbekistanis, British, and French, according to a press release on Tuesday.
Commenting on the sales spike, the CEO of Seven Tides, Abdulla bin Sulayem, said: “The increased sales at Seven Palm were primarily due to Seven Tides’ decision at the beginning of December last year, to rebrand and relaunch both the hotel and residential apartment components of that development.”
Sulayem added: “The overall development is now branded ‘Seven Palm’, with both component projects rebranded to ‘Seven Palm Hotel Apartments’ and ‘Seven Palm Residences’, respectively. Both projects came with a revised and more flexible post-handover payment plan.”