ETA Star, a leading property developer in the UAE, has announced impressive sales of The Grandeur Residences at the Palm Jumeirah Crescent, with the substantial portion of the Mughal Block of the project being sold out within a month of launch. The company has now officially opened for sale the Maurya Block, which is expected to evoke similar response from regional and international investors.
Abid A. Junaid, Executive Director, ETA Star, said, “The pace at which the Mughal Block was sold out was certainly heartening and we are confident that the Maurya Block will also have an overwhelming response. The interest generated by the project hasn’t come as a surprise to us, given that The Grandeur Residences at the Taj Exotica Resort & Spa is one of the most prestigious projects in Dubai, and is on the same league as the Burj Dubai in terms of lifestyle benefits and pricing. Another crucial factor that was instrumental in generating so much interest in this project was the launch of Star Select Club, an exclusive channel management initiative for select agent partners. Since the launch of the program our agent’s contribution has increased substantially.”
ETA Star has also revealed plans to invest in international markets especially CIS countries, while also stepping up its direct marketing initiatives in the UAE where it is keen on further consolidating its position in the market.
“Over the coming weeks we plan to target other high net worth individuals across markets which should help us achieve our business objectives,” highlighted Junaid.
ETA Star recently launched the AED 1.2 billion Taj Exotica Resort & Spa and The Grandeur Residences, in partnership with the world-renowned Taj Group of Hotels. The Grandeur Residences is a luxury residential complex designed to provide residents a lifestyle reminiscent of royalty, as the project is modeled on the archetypal palaces of Rajasthan, in India.
The Grandeur Residences comprises of 200 freehold fully furnished one bedroom, two bedroom and three bedroom apartments, including ten beach front villas. The prices range from AED 1.9 million for a one bedroom apartment to AED 13 million for the 4-bedroom palatial villa. ETA Star has put together a variety of options for The Grandeur Residences, including outright sale with furnishing, where the property is leased back to ETA Star for a minimum period of 5 years, that would make the project interesting not only to own but also as an investment option.
Every apartment in the condominium of ‘The Grandeur Residences’ offer stunning views of the sea from the crescent of The Palm, the Burj Al Arab and the skyline of Dubai Marina. The property comes equipped with an array of amenities such as spa, swimming pools, health club, restaurants, helipad, tennis court and 24-hour security and a concierge. The entire facility will be serviced by the Taj group of hotels.
ETA Star Property Developers LLC is the property development arm of the ETA-Ascon Group. The company’s prime objective is to harness the growing commercial opportunity in Dubai's freehold market.
Developments over 5 million square feet of built-up area are already underway and many more are planned over the coming months. ETA Star’s portfolio currently includes prestigious commercial and residential properties such as 23 Marina, Liberty House, Goldcrest Executive, Goldcrest Views - 2, The Belvedere and The Palladium. In addition, ETA Star has launched a new division-ETA Star Hospitality which is involved in developing commercial and hospitality projects at the DMC complex, Palm Jumeirah Crescent, Port Saeed, Salahuddin Road and other prime locations in the U.A.E. ETA star is also developing major residential & info-tech parks in India & Sri Lanka.
© 2006 Al Bawaba (www.albawaba.com)
