Damac Properties has just announced that Damac Maison de Ville Celestia, an off-plan hotel apartment project and one of Damac’s Dubai South Projects, is expected to be completed in 2018.
According to the developers, construction works are currently in full swing where the building works are 90% complete.
On another note, the company is also developing Ghalia and Tower 108, two hotel apartment towers, in Jumeirah Village Circle which will be completed in 2018. The works in both towers are at varying stages of completion.
It is worth noting that Damac’s hotel apartment projects in New Dubai and Dubai South are more than 80% sold out.
Niall McLoughlin, senior vice president at Damac, said: “As construction ramps up in preparation for Expo 2020 Dubai, it is no surprise that investors are looking for real estate in this district to reap the highest rental yields early before demand drives prices up.”