news-details
Real Estate

Century Tower Sells Out Nearly Entire Inventory on Launch Day

The launch of Century Tower, a 23-floor residential building in Dubai’s Business Bay, has received an overwhelming response from property investors, selling 190 out of 210 available apartments on the first day.

This project marks a significant milestone for Al Shafar National Contracting, one of Dubai's leading construction contractors, in collaboration with AMBS Real Estate Development and fäm Properties. fäm Properties, as the master agency, was responsible for the strategic planning and market research that guided the project.

Firas Al Msaddi, CEO of fäm Properties, highlighted that the successful launch underscores key factors that alleviate concerns for off-plan buyers, particularly in light of Dubai’s recent storms. "This response from investors can be attributed to the trusted reputation of Al Shafar, whose venture into building off-plan properties for sale has instilled significant confidence among buyers," said Al Msaddi.

Many buyers who purchased units in Century Tower have already expressed interest in future projects by Al Shafar, showcasing the impact of a strong reputation for quality construction and timely delivery. This trend reflects a broader shift in Dubai's real estate market towards reliable, well-built properties that offer long-term value, especially following the recent flooding.

Century Tower was designed to fill a market gap for uniquely crafted residences in Business Bay’s Golden Triangle. The building’s design and layout, along with project specifications, were the result of thorough market research and analysis conducted by fäm Properties’ master agency.

Unlike typical off-plan projects that sell before construction begins, Century Tower's building work was significantly advanced before the sales launch, providing investors with added confidence. "This reduced risk, combined with the building’s prime location, distinctive design, and focus on both investment and premium living, made it stand out," said Al Msaddi.

The partnership between Al Shafar National Contracting and fäm Properties is set to continue with the launch of their next project in October. "The rapid sell-out of Century Tower showcases the strength of Dubai's real estate market and the importance of trusted developers and thorough planning," Al Msaddi added. "As demand surges, projects like this ensure a vibrant and attractive market for both end-users and investors."

Related News

Applications Open for MBZUAI’s ...

Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) invites thirty local and international executives to apply for its upcoming six-day intensive program, the MBZUAI E...

Fourth Phase of Riviera by Azi ...

Azizi Developments, a prominent private real estate developer in the UAE, has announced significant progress in the fourth phase of Riviera, their French Mediterranean-inspired wat...

GPCA to Recognize Young Talent ...

The Gulf Petrochemicals and Chemicals Association (GPCA) is set to celebrate the innovative ideas and talents of GCC university students in the field of agri-nutrient sustainabilit...

TOYOTA GAZOO Racing Achieves O ...

The TOYOTA GAZOO Racing (TGR) World Rally Team (WRT) celebrated a spectacular one-two finish at the 2024 FIA World Rally Championship's (WRC) first Rally Latvia. Reigning world cha...

Federal Tax Authority Launches Tax ...

The Federal Tax Authority (FTA) has unveiled the Tax Professionals Qualification Initiative, a significant program aimed at developing a new cadre of qualified tax experts to enhan...

UAE Residents Seek Personal Touch i ...

A recent survey conducted by Researchscape International, commissioned by Yango, highlights the growing desire among UAE residents for more personalized and human-like interactions...

Al Ansari Exchange Launches Corpora ...

 Al Ansari Exchange, the largest remittance and foreign exchange company in the UAE and a subsidiary of Al Ansari Financial Services PJSC [DFM: ALANSARI], has introduced a cor...

Qatar Airways Expands Boeing 777-9 ...

 Qatar Airways has announced a significant expansion of its Boeing 777X aircraft order during the Farnborough International Airshow 2024. The airline has added 20 Boeing 777-9...

Nitya Capital Unlocks $218 Million ...

Nitya Capital, LLC, a prominent international real estate investment firm based in Houston, has successfully completed a $218 million refinancing deal. This strategic move resulted...

LPG Expo Announces ‘Middle East LPG ...

LPG Expo, a premier exhibition and conference organizer in the Liquefied Petroleum Gas (LPG) industry, has announced the ‘Middle East LPG Expo - Saudi Arabia 2024’, set...