Banyan Tree Residences Sales Top AED 100 Million In First Month

Sweid & Sweid, an Award-winning UAE developer, announced that it has sold over AED 100 million during the pre-launch phase of the Middle East’s first Banyan Tree Residences during the first month of sales.

Due for handover in just 17 months (Q3 2019), the G+31 storey tower will become Dubai’s first urban residential resort.  Located on a sprawling 110,000 square foot site, 90% of the area has been dedicated to resort-style amenities and lush landscaping – with the remaining 10% for the tower footprint.

The property’s amenities feature a free-standing residents only Clubhouse including a Banyan Tree Spa (with Banyan Tree Academy trained therapists), a state-of-the-art fitness centre with saunas and squash court, an indoor children’s play area, and a poolside cafe. Outdoors the residents will enjoy a resort pool stretching over 30 meters, a children’s pool and play areas, and an expansive lawn and flower garden. Operations of all the facilities will be overseen by a Director of Residences, specifically appointed by the Banyan Tree Group.

“The Banyan Tree Residences promises to be one of the most prestigious addresses in Dubai. Having all the leisure facilities and amenities in a setting that provides residents with rarely-found abundant green space, we are confident that tremendous value will be created for buyers and investors for the years to come,” said Managing Partner, Maher Sweid.

“Our design, construction and procurement track record stemming from our heritage and experience as industry leading fit-out contractors has joined with the Banyan Tree design team to ensure no stone has been left unturned in achieving the highest standards,” he added.

With incredible views in all directions, the stand-alone tower’s 244 residences are located at the intersection of DMCC, Emirates Hills, Emirates Golf Course, and the Montgomerie Golf Course.

Prices start from AED1.49 million for a one-bedroom, AED2.3 million for a two-bedroom, and AED3.9 million for a three-bedroom unit. With just a 5% reservation fee the residences are being marketed on a 30:70 payment plan with banks offering a 20+ year mortgage on the 70% final payment.

“We’re seeing a lot of demand for larger units – especially the duplex apartments, which offer private gardens and double-storey living rooms, a unique aspect of the project. We have purposefully incorporated several differentiating design factors in every apartment to ensure we offer something unique to our competitors. Our quality finishes and exceptional residents facilities under a globally recognized brand creates a strong value proposition which has seen Banyan Tree Residences bucking current market trends and proving to be a major success with buyers,” added Sweid.

The development includes over 10,000 plants and trees, creating an urban oasis and living experience more commonly found in luxury hotels and resorts. Interior finishes include Grohe fixtures and Villeroy and Boch sanitary ware. The custom Italian-made kitchens and wardrobes feature quartz and Zebrano wood detailing with Siemens and Smeg stainless steel appliances.

Founded in 2006, Sweid & Sweid is a Dubai-based boutique real estate firm focused on niche development, investment and build-to-suit opportunities. The company has worked with numerous multinational corporations and is currently exploring new opportunities with plans for further developments before the end of the year.