Signature Developers, which is a boutique builder, has just launched its completed project in Downtown Dubai, The 118. The tower comprises 28 luxurious apartments, 26 are spacious residences taking up a separate floor each and two high-end duplex penthouses.
The apartments range in price from 3,500 AED to 5,000 AED per square foot. The project’s gross development value is over 400,000,000 AED.
When asked about abstaining from doing off-plan sales, the group officials replied that high end customers would probably prefer seeing the finished units before committing to a purchase.
“How many developers can boast building, delivering and then selling in Dubai? We have done it. We waited for the product to be ready so that people who understand quality could come and see it. We did not want to do off-plan sales,” says Jayant Ganwani, also CEO of Signature Developers and CEO of Lals Group.
“Up until now, luxury buildings featured 100 to 200 units. We offer exclusivity. Ours is not just another square foot building,” he added.
Signature Developers is currently working on its second project, The Residences in Jumeirah Lakes Towers, due to be completed by the end of 2018. The average price per square foot in the new development is between 1,600 AED and 2,100 AED.