Business | Property
Sunland sells 86% of Nur within eight weeks of launch
Australian-based developer Sunland Group on Monday claimed that 86 per cent of its Dh725 million residential development, Nur, was sold within eight weeks of its launch.
- Staff Report
- Published: 23:22 August 11, 2008
Dubai: Australian-based developer Sunland Group on Monday claimed that 86 per cent of its Dh725 million residential development, Nur, was sold within eight weeks of its launch.
In other words, 165 of the 191 one- and two-bedroom apartments have been sold worth Dh592.88 million.
Nur, meaning 'light' in Arabic, launched on June 10 and only 26 apartments remain for sale in the 27-storey boutique residential tower situated within Culture Village, overlooking the Gardens of Goodwill.
Nur's apartments range from 767 square feet for a one bedroom apartment to 1,412 square feet for a two bedroom apartment, with additional private balcony space. The development has only two penthouses, both providing five bedrooms, split over two levels (floors 26 and 27).
Exclusive facilities for all residents are located on the fourth floor and include an outdoor 20 metre long private swimming pool, landscaped outdoor terrace and gymnasium. Prices at Nur start from Dh2 million for a fully furnished one bedroom apartment.
Sunland Group founder and managing director Suhail Abedian said, "The demand for Nur residences has been strong since we began talking about the development in its inception stages. We have noticed a lot of young professionals and young families who are interested in the development along with local and Middle Eastern investors.
"There have been so many enquiries that we had to reorganise our company showroom in the Gold and Diamond Park to feature the Nur development, due to buyer demand, which is something I have not done in my 25-years of property experience," he added
The development, worth a total of Dh725 million, is Sunland Group's third scheme in Dubai and is testament to the developer's growing success and expansion in the UAE with its local portfolio in excess of Dh13 billion.
Nur follows the success of the company's earlier developments, D1 and Palazzo Versace, which are also in Culture Village.
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