Realty project to target millennials
Dh150m project to be completed by April 2018
Dubai - Across the world millennials are taking the workplace by storm
Myra Properties, a leading developer of high-end luxury properties across the GCC, on Wednesday announced the launch of its latest apartment project in Dubai, aimed at the growing community of young millennial expatriates who are increasingly relocating to Dubai for employment or wishing to invest in lucrative properties in the region.
Myra Properties' iconic Crystal Residence is an ultra-luxury residential apartment project featuring 225 units of studio, one-bedroom, two-bedroom and three-bedroom sizes, and will be located prominently in the fast-growing Jumeirah Village Circle community of Dubai. The project value is estimated at Dh150 million and is expected to be completed by April 2018, well ahead of Expo 2020.
Announcing the project at an exclusive media preview in Dubai, managing director of the Dubai-based Myra Properties Ismail Han said that Crystal Residence will help in satisfying the rising demand among residents for luxury apartments that have been built to best-in-class standards.
"Myra Properties is synonymous with quality and strict adherence to possession deadlines. With Crystal Residences, we are reinforcing our keenness to target different communities in one of the most sought-after Middle Eastern markets," he said.
Akash Kanjwani, deputy CEO of Myra Properties, pointed out that over the past decade, millennials have emerged as the most desirable demographic to reach out to due to their high purchasing power.
Millennials, also known as Generation Y, are people in the age group of 18 to 36 years. Across the world millennials are taking the workplace by storm, whether it is sales, IT, hospitality, marketing, financial services or hospitality.
"Myra Properties believes that with such a young population increasingly entering the UAE, there would never be a better time for the real estate industry. These customers are very knowledgeable, have enough buying power and look for well-appointed high-end properties that can help them unwind after a long day at work," he added.
"In addition, when it comes to buying, millennials prefer to stick to investments that have lower risk. Crystal Residence would therefore appeal to such discerning customers."
He added that Crystal Residence would also attract residents who are looking to invest in properties with the ultimate aim of leasing them out to newcomers to the country.
"Crystal Residence is ideally located in one of the most happening districts of Dubai and, once completed, can guarantee high returns on investment and maximum value to buyers," he said.