Dubai: A cluster of eight super-premium mansions have been launched at the Dubai Creekside by the developer MAG of Life, and bearing the stamp of Ritz-Carlton Residences. The price tag has been fixed at Dh177 million apiece, with the developer waiting to release the other four.
These mansions make up part of the Keturah Resort, a wellness themed project that is expected to cost $1.3 billion. It will provide future residents and visitors with a 180-degree view of the Dubai skyline and the Ras Al Khor Wildlife Sanctuary. Construction cost of the built-up area is Dh2,150 per square foot.
“We launched these eight mansions in direct response to a surge in demand and substantial interest from local and global investors seeking luxurious premium developments in Dubai,” said Talal Moafaq Al Gaddah, CEO of MAG of Life.
At the luxury end of Dubai's property market, investor demand has taken to the raft of branded residences available as offplan and completed in Dubai. Apart from Ritz-Carlton, the market has seen launches from One&Only homes at the record-setting One Za'abeel twin-tower close to DWTC. This is a market that's already seen options from Armani, the Dorchester Collection, and Bulgari. The latter, in fact, has fetched record prices for units located on Jumeira Bay island.
MAG of Life's plans to keep only a limited number of Ritz-Carlton units at its project is in keeping with the project's concept. The project has been described as the ‘first wellness real estate focusing on the Dubai Industrial Strategy 2030’. It was designed by the French architect Amar Sabeh and interiors was handled by Istanbul-based studio Autoban.
Each of the eight mansions comprises four levels with eight bedrooms, a majlis, spa, cinema room, and a premium gym. Mansions come in a choice of two architectural themes: Earth (46,648.2 square feet) and Water (45,927.24 square feet).
Additionally, residents will have access to a luxury wellness hotel, eight sustainable and organic-focused retail spaces, including weekend farmers’ markets, and a gated community with unique views of the wildlife sanctuary.