Banyan Tree Residences – Hillside Dubai experiences upsurge in sales as rentals hit capacity
Sweid & Sweid’s Banyan Tree Residences – Hillside Dubai recorded upwards of 60 AED million in sales during the first quarter of 2021, driven by an upsurge in activity as confidence in the Dubai real estate market returns, and the residential development’s unique resort-style standing as Dubai’s only single-tower gated community.
Having initially launched the residences in June 2020 in the midst of the global pandemic, Sweid & Sweid made the decision to release a limited number of its retained inventory of luxury apartments to the rental market. The entire inventory of apartments made available for lease were occupied within a matter of months, and there is currently a growing waiting list for tenants hoping to move into the community. The focus now is on sales, and this has seen a remarkable influx of both overseas and resident investors flocking to Banyan Tree Residences. With a limited stock of apartments now remaining, expectations are that the luxury community development will quickly sell out in the near future.
Maher Sweid, Managing Partner of Sweid & Sweid, explained that the successful launch of Banyan Tree Residences and its subsequent popularity, both in terms of leasing and sales, is testament to the aspirations Sweid & Sweid held for the residential development from the outset. He said: “Our vision for Banyan Tree Residences was to create a one-of-a-kind residential community in the emirate, where the high quality of build and finish combines with a host of resort-style amenities to create a special community and a lifestyle destination that people want to be a part of.”
Calibre of residents
As an experiential lifestyle destination in every sense of the word, Banyan Tree Residences quickly found its niche, with young entrepreneurs, real estate moguls, media personalities and sports stars among those choosing to make the development their new home. Sweid says that the calibre of residents is one factor in the ongoing appeal of the property, but also points to a number of additional elements that have played a significant role. “During the initial lockdown many of us faced, I believe people realised the true value of having outdoor spaces,” he said. “As the only single tower gated community in Dubai, Banyan Tree Residences was able to tap into the consciousness of those for whom city living is an important component of life, but who also find themselves craving an environment that provides tranquillity and a form of escapism and freedom. This, for me, is the only residential property in Dubai that captures these elements in terms of apartment living.”
The journey for Banyan Tree Residences began more than four years ago, and in the years since it was conceptualised, the Sweid & Sweid property has become the recipient of a host of awards and recognition. However, none of these milestones, Sweid explained, compare to the reward in seeing people living in and enjoying the property. “This was a labour of love for the Sweid & Sweid team,” he said. “And seeing the pleasure our residents get from living here, in using the facilities, enjoying the surroundings, this provides me with an overwhelming sense of pride in knowing that we have delivered something very special to the Dubai market.”
New restaurant and Banyan Tree Spa due to open shortly
Residents can look forward to two new additions to the property shortly, one of which is the official opening of the Banyan Tree Spa, due to activate in the next two months. Currently, qualified therapists fresh from the Banyan Tree Academy are preparing to offer the world-famous Banyan Tree range of massage treatments, therapies and facials for the first time in Dubai from the exclusive resident-only branded Spa.
In addition, a new food concept from one of the UAE’s top restaurant brands is also on the horizon, with an official announcement due shortly. The two-level restaurant is to be located within the former sales office building on the perimeter of the property. The fully licensed restaurant will also feature an exclusive rooftop terrace that overlooks the lush greenery of the community, and is set to become the new place to be seen in Dubai.
More to follow on these and more developments from Banyan Tree Residences – Dubai shortly.