Talal Al-Bahar, Chairman & Group CEO, IFA Hotels & Resorts, stated: “The Palm Jumeirah continues to be a market leader in property value retention and rental yield. Although 45,000 new residential units are scheduled for completion in Dubai by the end of 2015, only 4% of these are on the island. IFA Hotels & Resorts made a commitment long ago to be a significant contributor to the development of the Palm, and we are certain that The 8 will be a beautiful and modern addition.”
At eight-storeys, the mixed-use development will add an additional 300 units to the Palm Jumeirah’s limited inventory. The units comprise two- and three-bedroom apartments, signature townhouses and a limited number of penthouses. The resort will also offer a stunning mix of hotel apartments, ranging from one-, two- and three-bedrooms to a palatial presidential suite. The hotel apartments will be furnished with a bespoke collection created by design house Kenzo Maison.
Ultra-sleek and modern, “The 8” is inspired by the fashion, glamour and jet-set lifestyle of Miami Beach. Transporting the Miami Beach vibe to Dubai, The 8 is more than just a residence, offering resort-style facilities including extensive water-sport rentals, a gym, tennis courts, a signature beachfront restaurant, beach cabanas, barbeque and event areas, as well as a dedicated children’s area and family pool.
Undisputedly contemporary, yet mindful of more traditional service expectations; The 8 sets out to combine the best of Western design and Eastern comforts. Floor to ceiling windows and large balconies maximize the development’s panoramic views; with one-side facing the stunning Marina skyline and the other a seemingly endless view of the Arabian Gulf. Motivated by the world’s leading fashion houses, the interiors are sleek and sophisticated, adorned with modern, high-quality finishes including marble floors and European kitchens.
Khaled Esbaitah, CEO, IFA Hotels & Resorts, added: “When owners walk into The 8, we want it to feel as much like a modern art gallery as it does an apartment. We are building a destination. We are creating a distinguished address that those with a love of fine materials and aesthetically pleasing design will want to call home. In fact, we are the first and only development in Dubai to be working with Kenzo Maison. It is a very exciting project because we know we are bringing something very special to Dubai.”
Complementing its wide-ranging facilities, The 8 will also cater to Dubai residents’ expectations for service, with highly-trained and competent concierge personnel able to help owners arrange everything from maintenance to dry cleaning.
Pre-launch registration for the development began in Dubai and Kuwait on 9 March, with a booking event scheduled to take place at Fairmont The Palm on 22 March from 10am to 4pm. Parties intent on purchasing are requested to register their interest prior to 22 March by calling 800 4322.
Al-Bahar concluded: “We are confident that now is the time to bring The 8 to market. We have listened carefully to what our customers are looking for and we have taken the necessary time to ensure the product offering is just right. It has been meticulously planned and we are extremely happy with the result.”