AKOYA by DAMAC with 1,350 Villas and Apartments Ready for Handover in October 2016

DAMAC’s First Masterplan Community Goes from Sand to Operational in Just 3 Years

DAMAC Properties Launches AKOYA Imagine for Millennials

Dubai, United Arab Emirates – 7 September 2016: DAMAC Properties, one of the region’s largest luxury real estate developers, announced today at Cityscape Global 2016 that 1,350 units in its flagship master development AKOYA by DAMAC will be delivered to investors during October 2016.

Around 450 luxury villas and townhouses, spanning four clusters – Silver Springs, Queen Meadows, Brookfield, and Whitefield – are completed. Comprised of 11 types, the villas and townhouses range in size from three- to six-bedrooms, with many directly facing the international golf course in the community.

Ziad El Chaar, Managing Director, DAMAC Properties said: “AKOYA by DAMAC is our first master development in the UAE and the delivery of units to their owners marks a major milestone for us and demonstrates our ability to deliver a project of such complexity and size. The AKOYA golf course community is one that has been eagerly-awaited and we look forward to completion and delivery of all units in the community by 2018.”

The highly-anticipated handover follows on from the first phase of deliveries late last year, in which 479 golf-view apartments were completed and delivered. Also ready for delivery between late this month and October are around 900 apartments in low rise buildings, consisting of eight storeys. The apartments that investors will take possession of span 5 buildings including Golf Panorama, Golf Horizon, Golf Vista, Golf Terrace and Golf Veduta, and feature spacious arrangements with direct golf course views and terraces.

During Cityscape Global 2016, DAMAC Properties also announced five new project launches including the new phase of AKOYA Imagine 3-bedroom villas targeting millennials, the new 4-bedroom AKOYA Cuatro Villas, The Residences at AYKON City, AYKON Hotel & Hotel Apartments at AYKON City as well as the XV Villas at AKOYA by DAMAC.

Ziad El Chaar, Managing Director, DAMAC Properties commented: “We are pleased to bring to market a further range of products for discerning customers and investors looking for a choice of attractive and lucrative investment opportunities. With exclusive, luxury residential apartments in the most convenient and easily accessible locations, we offer premium quality combined with the assurance of strong financial returns.”

The new projects are:

1. AKOYA Imagine 2.0 is a range of 3-bedroom modern villas designed for millennials and their families, and is part of an international golf community. Set within one of Dubai’s most accessible suburban locations, these superb villas are less than 20 minutes’ drive to downtown Dubai, Mall of the Emirates or Palm Jumeirah. At a price of AED 999,999 payable over 3 years plus plot title deed with every purchase, these 3 bedroom villas offer fantastic value as well as an attractive investment opportunity for the discerning customer.

2. AKOYA Cuatro Villas is a range of new homes specifically also designed for millennials and their families. Surrounded by a lush green environment, these 4 bedroom residences are located in a family friendly golf community at the heart of the award winning AKOYA Oxygen development. With serviced and non-serviced options available they offer the very latest in modern living and lifestyle, complete with a host of world-class amenities such as dining, shopping, hospitality and entertainment, part of the ultimate lifestyle proposition.

3. AYKON City, located in the Golden Quadrant on Sheikh Zayed Road overlooking the Dubai Canal, will be a new architectural icon on the majestic city skyline, taking residential and hotel property to new heights.

a. The Residences, part of Tower C, AYKON City, is an exclusive collection of private residences from studio apartments to one, two and three bedroom arrangements. Situated in one of the city’s most accessible locations, they embody the finest lifestyle available in Dubai, with access to AYKON Club, an exclusive residents-only membership with a modern twist on old-world charm. Set just below the 295-metre summit of its tower, the club will offer spectacular views of the city as well as an intimate environment to relax and unwind.

b. AYKON Hotel & Hotel Apartments at AYKON City, the first project from AYKON Hotels & Resorts, is designed for guests who require intelligent, sophisticated service from a brand that has class appeal and exudes exclusivity with every detail. The hotel units part of this development provide a one-of-a-kind opportunity for investors to tap into the growing and high-potential hospitality sector.

4. The truly innovative XV Villas at AKOYA by DAMAC offer extraordinary sophistication in design, with new to market “inverted” floor plans that provide elevated views across the lake and golf course.

XV Villas at AKOYA by DAMAC feature living spaces on the first floor which open to an infinity pool that flows to the ground-level pool. As opposed to all other villa types in

Dubai, having the living space on the first floor allows for greater views over the golf fairways. The contemporary-styled villas offer a luxurious living experience and serenity in one of the most highly-anticipated golf communities in Dubai. XV Villas at AKOYA are set within the impeccably-landscaped 18-hole, par 71 championship course designed by 2016 Olympic Games course architect, Gil Hanse and will benefit from the community’s amenities including a 30,000-square-foot clubhouse, luxurious spa and wellness facilities, luxury shopping and entertainment, world-class dining, an outdoor cinema, as well as schools and nurseries, among others.