Fancy living with a supercar in your living room or watching fish swim past your bedroom window?
On the eve of Dubai’s annual property exhibition, Cityscape Global, developers are showcasing some of their more novel housing proposals for the city – undeterred by a marked decline in home sales across the city.
Yesterday Damac Properties unveiled the world’s first homes designed around the Bugatti sports car.
The seven-bedroom villas, which will be built at Damac’s Akoya Oxygen project on the Umm Suqeim Road on the outskirts of Dubai, will be literally built around the iconic European sports car.
Not only will the homes be built to mirror the curved Bugatti Veyron design, but each home will include “an indoor vehicle display area” where glass panels between the living room and garage will mean that owners can admire their cars from the comfort of their own sofa.
Prices for the villas, which will overlook the planned Tiger Woods-designed Trump World Golf Club and will be showcased at the Cityscape Global property show this week, will be in the region of Dh36 million.
“With hundreds of other projects out there all competing, developers have to think how can they make them stand out from the crowd, and that’s where the creativity comes in,” said Sean McCauley, the director of agency at Asteco. “What we have been seeing is a slowdown in transactional activity just at a time when there has been a huge influx of new entrants into the market.”
Built by Damac, the project has been christened Ettore 971. It is named after Ettore Bugatti, the founder of the renowned French Luxury super sports car brand, and 971 is the international code for the UAE.
“The added touch of being able to see your car from many areas of the living quarters adds to the immersive design incorporated throughout these truly luxurious homes,” said Ziad El Chaar, the managing director of Damac Properties.
The project is just the latest in a series of weird and wonderful housing plans to be displayed at Cityscape, which is a key test of confidence for the property sector in the emirate.
These include Kleindienst Group’s plans to build 42 so- called Floating Seahorses – a cross between a villa and a boat – to be located off the World Islands in Dubai.
Each villa, designed and manufactured in Dubai, will have three levels – one underwater, one at sea level and an upper deck – with a completely submerged master bedroom and bathroom. They will also be equipped with a kitchen, a dining area and a glass-bottomed Jacuzzi.
The unusual developments are being marketed at a time when property prices in Dubai are falling.
According to Knight Frank’s Global House Prices Index, mainstream residential prices were some of the fastest-falling in the world in the second quarter of this year, retreating 12.2 per cent in the year to June and by 2.8 per cent quarter on quarter.
Knight Frank ranked the city’s house price performance bottom of a list of 56 global cities for the period, saying the Dubai market had performed worse than those of the hard-hit economies of Greece, China, Cyprus and Ukraine.
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