Dubai developer Damac launches The Beach at Navitas Hotel & Residences at Akoya Oxygen

Dubai developer Damac Properties will start marketing off-plan apartments in five new towers of its Akoya Oxygen development at the outskirts of Dubai.

Damac said units at its first phase of apartments at the The Beach at Navitas Hotel & Residences projects will go on sale on Wednesday. The company, whose shares are listed on the Dubai Financial Market, said that it would be selling off-plan three bedroom apartments Рwith prices starting at Dh1.25 million Рat Maison Caf̩ in Business Bay.

The housing complex within the 55-million-square foot Akoya Oxygen project will overlook a golf course and artificial sandy beaches.

Damac did not say how many apartments would be included in the sale.

Last week Damac, launched a series of three- and five-bedroom villas with a starting price of Dh1.2m, dubbed Akoya Imagine which it said were designed to appeal to millennials, or those reaching adulthood since the year 2000.

In May Damac reported a 33 per cent decline in year-on-year sales for the first quarter as buyers shied away from the Dubai housing market waiting to see if house prices would fall further.

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