When the CEO of a real estate brokerage acquires a full floor in a tower he is promoting, it speaks volumes about his confidence in the project and the developer’s track record.
The person in question is Brian Etemad, CEO of Tamleek Real Estate. The firm is responsible for the sales and marketing of 800 apartments at the newly-launched Kempinski Residences in Business Bay. The project is being developed by Gemstone, the real estate arm of Saudi Arabia’s Al Rajhi Holding Group.
For those interested in getting a look and feel of the property, Tamleek has opened show apartments for viewings in The Regal Tower in Business Bay.
This is the second Kempinski-branded residences in Dubai, with the first property located on the Palm Jumeirah.
The project includes studios, or suites as Tamleek executives call them, spanning 650 sq ft and go all the way up to five-bedroom penthouses. The prices start from below Dh100,000 and go up to Dh11.5 million, at Dh2,100 per square foot. The project is slated for completion in 2019.
“The price is bound to appreciate to Dh6,000 per sq ft by then,” forecasts Etemad. More info