The Royal Atlantis Residences, an extraordinarily high-end brand-new development in Dubai, United Arab Emirates introduced international sales this week.
Located on the crescent of the iconic Palm Islands, an artificial archipelago in the Middle Eastern country, the 231-unit undulating tower, practically bathing in the ocean, will consist of a selection of two-to-five-bedroom homes, using 82 various layouts and 3 different color palettes with rates starting at $2 million.
The Royal Atlantis was developed by a team of international real estate professionals. Developed by Kerzner International, an authority on and manager of high-end resorts and hotels in The Bahamas, Mauritius, Mexico, the Maldives and other destinations.
Prior to The Royal Atlantis, Kerzner already developed Atlantis, The Palm, a 1,500-room water-themed resort also situated on the Palm Islands in Dubai. Another flagship Atlantis luxury condo is under development in Shanya, China.
Estate Global KPF Associates, among the largest New York-based architecture firms, is responsible for the general architecture, while Paris-based Sybille de Margerie commands the interior design.
Additionally, Los Angeles-based David Mexico, who worked on water functions at the Bellagio hotel in Las Vegas and for Disney Cruise Line, is commissioned to develop a 90-meter (about 295-foot) sky’s-the-limit infinity pool.
The team is promoting The Royal Atlantis in the U.S. this week, with stops in New york city, Miami and Los Angeles. Trips to the U.K., Russia, India and other Asian nations are arranged for later on this year, according to Maria Morris, a partner and head of Middle East job marketing at Knight Frank, which is handling the sales.
Sales introduced locally at the end of January. “The timing was ideal to develop another iconic structure and to continue the Atlantis experience in a brand-new method, creating a house and a community for families to live,” stated Serge Zaalof, primary operating officer of Atlantis Resorts and Residences.
The rates of prime Dubai property have plateaued throughout the past 12 to 18 months, in accordance with Morris, mentioning a Knight Frank yearly report. In 2016, high-end house rates fell 4 percent year-over-year.
“As the market nears the bottom of the cycle, it’s a good time for worldwide residents to check out Dubai,” she said. Completion of the development is slated for the second quarter of 2019.