Demand for luxury real estate upbeat

DUBAI — Fourth freehold residential project of Trident International Holdings — Trident Grand Residence, launched two week back, has been sold over 90 per cent. The tower with 45 floors consisting of total 253 condominiums and penthouses has attracted a diversified set of buyers.

By A Staff Reporter

Published: Fri 19 Aug 2005, 12:32 PM

Last updated: Thu 2 Apr 2015, 4:15 PM

Besides institutional investors, a significant number of individuals have also invested in the project which reiterates good demand for real estate primarily driven by the fact that returns on investment are still lucrative in this sector.

Investment opportunities apart, the Dubai Marina is also one of the most solicited waterfront address in the world. The place is fast becoming an up market quality urban development that is home to many celebrities from around the world.

Wazir Ali Daredia, director and chief executive officer, Trident International Holdings said: “We credit this achievement to the distinct niche that Trident has carved for itself in the freehold market and the steady demand for luxury property in Dubai."

"The sellout of over 90 per cent of TGR in record time is also thanks to the brand equity we have created for a Trident home and the pending demand that emanated from the success of our first three projects," he added.

Launched on July 30 this year, the special proposition of Trident Grand Residence has attracted an even mix of investors from International to UAE and Gulf based buyers.

Strategically located within walking distance from the oceanfront, Residents of Trident Grand Residence will exclusively enjoy the pleasures and comforts of unique concepts being introduced for the first time such as sky gym, sky lounge, aerobics lounge, yoga alcove, indoor golf and 3G Transponder System are some of the features which will be offered at the project.

The construction of Trident Grand Residence will commence shortly, and the project is scheduled for completion by mid 2008.

The architect of this project is Hazel Wong, the designer of the "Emirates Towers" and her architectural firm RMJM, renowned interior design firm, Hirsch Bedner & Associates and US Headquartered, Parson Brinkerhoff, one of the oldest project management companies in the world and project managers of the Palm Jumeirah.

Trident International Holdings is a part of a global group engaged in diversified corporate activities with presence in major cities worldwide. Trident has pioneered some bold concepts related to up market luxury living, most of which are benchmarks in the industry.