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Vincitore says debut Dubai real estate project 90% sold out

Vincitore Real Estate Development has announced that its first property project in Dubai has attracted strong investor demand with 90 percent of phase one sold out.

The AED135 million ($36.7 million) Vincitore Palacio project was launched earlier this year with starting prices of AED 475,000.

The residential project is spread over an area of 200,000 square feet at the Arjan district in Dubailand and will be ready for handover by May 2017, the company said.

Vijay C Doshi, founder and managing director, Vincitore Real Estate Development, said: "Even at a time of softening property prices in the UAE, demand for quality developments that offer value par excellence to investors remains high.

"Positive response for Vincitore Palacio not only reflects the strength of Dubai's real estate sector but also effectively fills the gap for affordable yet branded, premium homes that reflect style, elegance and luxury while fulfilling Dubai's sustainable energy requirements."

Featuring a total of 175 units of studio, one and two-bedroom apartments, each with a sun deck, Vincitore Palacio offers round-the-clock secured access with video intercom and security services, as well as a temperature-controlled swimming pool, gymnasium with steam and sauna facilities.

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