Some 60 percent of residential space in the Dh3billion Dubai Lagoon' mega project, The Presidential building, has sold in a little over one month after the project's announcement.
The final phase of the project includes 58 upscale units, 43 of which have already been sold according to reports in Khaleej Times.
"The response we got has been overwhelming like before and now the remaining 15 apartments would also be sold in the next two weeks," stated Danial Husain, Vice-president of Dubai Lagoon.
The company offered good value investment opportunities that property buyers took advantage of. The flexible payment plans with 0 per cent interest that allows the buyer to pay 60 per cent over the initial two years and take possession, with the balance to be paid over the next five years, after possession, contributed to the good sales.
"I feel this scheme, which has been a star attraction has led to a number of buyers to book for our apartments," said Husain.
Financing for the project has been attractive to both investors and residents, allowing purchasers to sell to a third party upon payment of the first installment while all apartments are ownership sub-lease hold title.
