A total of 190 out of the 210 available apartments were sold during the launch of Century Tower in Business Bay. The new 23-story residential building in Dubai's Business Bay achieved great success with investors.
This project represents a significant achievement for Al Shafar National Contracting, a leading construction company in Dubai. The collaboration with AMBS Real Estate Development and fäm Properties, whose expertise in strategic planning and market research played a crucial role, has made the project even more successful.
Firas Al Msaddi, CEO of fäm Properties, believes that the high level of interest is due to an increasing investor preference for dependable and established contractors, particularly following the recent heavy rain in Dubai. Al Shafar has earned a strong reputation for high-quality construction and punctual project completion, which has greatly boosted buyers' confidence.
"Many who purchased units at Century Tower have already inquired about future projects," Firas said. "This shows how a reputation for quality construction and timely delivery, added to high income-generating assets, can alleviate common concerns about off-plan projects and reinforce buyer confidence,” Firas added.
Dubai's real estate market is demonstrably shifting towards properties built with durability in mind. The climate can accelerate wear and tear on buildings, making long-lasting construction a top priority for residents. The recent flooding further emphasized this need, prompting buyers to seek developments that can withstand harsh conditions and offer lasting value.
Century Tower was designed to fill a specific niche in Business Bay's Golden Triangle, offering uniquely crafted residences. The design, layout, and project specifications were all meticulously planned based on in-depth market research conducted by fäm Properties' Master Agency.
Unlike many off-plan projects that launch before construction even begins, Century Tower was already under significant development at the time of the sales launch, providing further reassurance to investors.
“This reduced risk, added to the building’s prime Business Bay location, distinctive design, and focus on both investment and premium living, made it stand out in meeting buyer needs,” said Firas.
“We’re proud of our partnership with Al Shafar National Contracting and eagerly anticipate launching their next project in October, continuing to raise the bar through strategic collaboration and market analysis.”
In an ending statement, Firas Al Msaddi concluded that the rapid Century Tower sell-out showcases the strength of Dubai’s real estate market. He emphasized the importance of trusted developers and thorough planning, which ensure a vibrant and attractive market for end-users and investors as demand surges.