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The speed at which Sakana Holistic Housing Solutions sold out all apartments in the freehold, Juffair-based tower block Nasmah, its first foray into property consultancy, is being matched by the speed of construction with on-site piling well underway.
In addition, astute buyers kept up the pace assuring their purchases by timely payment of the first installment of 10 per cent of property value - 100 per cent were received within one month of the initial property reservation.
Buyers snapped up the apartments within weeks of the sales launch. The property value is expected to mirror the steadily increasing trend in property prices offering buyers the opportunity to build a solid nest egg for the future, or to use their Nasmah apartment as a stepping stone to fund other ventures, either by onward sale or as collateral.
In fact, the company says, the secondary market sale of an apartment has already generated a gain of 160 per cent for the initial buyer within a month.
Sakana CEO R Lakshmanan said: "The success of Nasmah and the speed at which the venture has moved forward have confirmed our market research which told us that people are hungry for quality properties at value-for-money prices. Add to that the peace of mind of being able to complete all the formalities and arrange mortgage finance under the same roof and you have a winning combination."
Nasmah - which means "a breath of fresh air" in Arabic - is an affordable apartment tower consisting of 120 apartments with each flat having two bedrooms and a balcony with views of either city or seaside.
The building has a rooftop swimming pool, fully-equipped fitness centre, squash court, party hall and other amenities.
Nasmah is being developed by RMK Projects (a division of R M Kooheji & Sons) and is scheduled for handover by the end of 2009.
