The Royal Atlantis Residences, a super luxury new development in Dubai, launched global sales with its first leg in New York on Tuesday.
Located on the crescent of the iconic Palm Islands, an artificial archipelago in United Arab Emirates, the 231-unit curvy tower, overlooking the ocean, will consist of a selection of two-to-five-bedroom homes, offering 82 different layouts and three different color palettes with prices starting at US$2 million.
The Royal Atlantis was conceived by a team of international real estate experts. It’s developed by Kerzner International, a developer and manager of luxury 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 located on the Palm Islands in Dubai. Another flagship Atlantis luxury condominium is under development in Shanya, China.
KPF Associates, one of the largest New York-based architecture firms, is responsible for the overall architecture, while Paris-based Sybille de Margerie is behind the interior design.
Additionally, New York-based David Mexico Design Group, who has designed projects like The Westin Nashville and Agua by Larbi at the One&Only Palmilla, is commissioned to design the Sky Deck including a 90-meter (about 295-foot) sky-high infinity pool.
“This project will not only be best-in-class for Dubai but will certainly be one of the best projects globally,” said Maria Morris, a partner and head of Middle East project marketing at Knight Frank, which is handling the sales.
The team is promoting The Royal Atlantis in the U.S. this week, with stops in New York, Miami and Los Angeles. Tours in the U.K., Russia, India and other Asian countries are scheduled for later this year, according to Ms. Morris.
Sales launched at the end of January domestically.
“The timing was right to build another iconic structure and to continue the Atlantis experience in a new way; creating a home and a community for families to live,” said Serge Zaalof, chief operating officer of Atlantis Resorts and Residences.
The prices of prime Dubai real estate have plateaued during the past 12 to 18 months, according to Ms. Morris, citing a Knight Frank annual report. In 2016, luxury home prices fell 4% year-over-year.
“As the market nears the bottom of the cycle, it’s a good time for global citizens to look into Dubai,” she said.
Completion of the development is slated for the second quarter of 2019.
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