Dubai: The Dubai developer Deyaar has booked Dh900 million worth of units at its new 70-storey Regalia skyscraper at Business Bay. That sales figure is already over and above the cost of building the tower, which is estimated at Dh750 million. It was in July that Deyaar launched sales, as the Dubai market showed the first signs of demand returning for offplan.
The Regalia is among the first offplan launches in Dubai, which developers had been avoiding for the better part of two years. The Dh900 million represents 85 per cent of available units at the Regalia, which is scheduled to be ready some time in 2024.
“The project witnessed an overwhelming response from domestic as well as international investors seeking high-end developments,” said Nasser Amer, Vice-President for Sales and Customer Service. “More than 85 per cent of the units were sold which is a clear testimony to the appetite the market has for luxury developments”.