The high profile real estate show is expected to attract more than 7,000 targeted visitors and is considered the premier event for the booming overseas property market in Russia.
According to Seven Tides’ CEO, Abdulla Bin Sulayem, Russian investors currently account for around 20% of sales of the completed 442 one to four-bedroom penthouse apartments, which range in size from 1,158 up to 9,500 square feet.
Abdulla Bin Sulayem, CEO, Seven Tides.
“The number of high net worth individuals in Russia is forecast to surge by 51% between 2012 and 2022, as per the 2013 Knight Frank Wealth Report, and participation in the Moscow International Property Show gives us a unique opportunity to meet face-to-face with a growing audience of prospective investors,” said Bin Sulayem.
“The fact that the apartments are already completed is also a distinct advantage for buyers who can sign today and be swimming in the lagoons and enjoying the Palm Jumeirah lifestyle tomorrow. This is in line with our commitment to best practice and to building relationships with investors who can have confidence in both the quality of our projects and our delivery promise,” he added.
In 2012, the Dubai Land Department recorded real estate investment in excess of AED2 billion by Russian nationals with a 2013 Knight Knox report also noting specific Russian investor interest in new build properties, which puts the UAE on their overseas investment hotlist.
This is supported by buyer research recently carried out by Russian property portal Tranio.Ru (the Internet Centre of Overseas Property), which listed various purchase motives including a stable political environment, access to high quality medical care, preference for a warm climate for a second home, and personal safety.
The research also highlighted the importance of a country’s residential and social infrastructure, with the availability of shopping facilities a key determining factor in the choice of investment destination, and a preference for apartments as opposed to single homes.
“The prestigious location of the Anantara Residences on the world-famous Palm Jumeirah, as well as the high quality finish of the apartments, is undoubtedly a major hook but a growing percentage of buyers are also looking to invest with a view to permanent residence at some point, and so the overall business environment and education facilities for those with families, play a vital role in the final purchase decision,” said Bin Sulayem.
Prices for the Anantara Residences units start from AED2.5 million with buyers also able to enjoy exclusive access to the adjacent 293-room five-star Anantara Dubai Palm Jumeirah, Resort & Spa, with a gym, 107,600-square feet of temperature controlled lagoon pools, six dining and entertainment venues and Anantara Spa.
The collection of 442 luxury apartments and 14 penthouses are fronted by a private stretch of white sand beach with all residences enjoying spectacular panoramic views of the Arabian Gulf, Atlantis hotel, Burj Al Arab and the Dubai Marina skyline.
There are also a limited number of three and four-bedroom penthouses, each with sunken swimming pools, private terraces and balconies offering up to an additional 3,300 square feet of space for relaxation and entertaining; and potential penthouse owners also have the option of fully customising their interiors.
