$48M Dubai ‘Sunken Balcony’ Project REEF 1000 Sells Out on Launch Day
Tuesday, 3 December 2024
Reef Luxury Developments’ REEF 1000 project in Dubai has sold out on the very first day of its launch. This $48M development, featuring the world’s first climate-controlled “sunken balconies,” redefines outdoor living in Dubai and has attracted strong interest from both investors and residents.
Key Highlights:
- Instant Success: The AED175M ($48M) REEF 1000 residential project sold out on launch day, reflecting strong demand for innovative and sustainable luxury living in Dubai.
- Unique Feature: The project’s climate-controlled sunken balconies, a patented feature, allow year-round outdoor enjoyment, setting a new standard in real estate design.
- Diverse Residences: REEF 1000 offers 125 exclusive units, including studios (starting at 436 sq. ft.) and townhouses (starting at 1,653 sq. ft.), catering to various lifestyle needs.
- Accessible Luxury: The development’s innovative payment plan made luxury living more accessible, driving substantial buyer interest.
- Commitment to Sustainability: CEO Samer Ambar highlighted the project’s focus on climate-conscious design, offering a blend of luxury, sustainability, and community living.
- Future Expansion: Reef Luxury Developments plans to launch 29 more projects by December 2025, further expanding its portfolio of innovative and sustainable communities.
