United Arab Emirates: WOW RED, the developer of the SLS Dubai Hotel & Residences in the Burj Khlaifa district, offers co-ownership in the units of the property.
In a statement, the developer said: “Co-ownership is an attractive opportunity for investors who prefer other asset classes and want to add real estate to their portfolio. With this product, SLS Dubai is poised to revolutionize property investment in the UAE as a safe and feasible way to invest in the sector, offering a whole new class of investment asset.
The SLS co-ownership offers an individual ownership certificate for each fraction. These can be resold without getting NOC from other fraction owners.
Yahya Alkan, CEO of WOW RED, said, “The timeshare investment at SLS Hotel & Residences is a game-changing initiative for the region, as we make luxury real estate investments more accessible to more regional and international investors, especially the participants of Expo 2020 Dubai. around the world who are one of the main audiences. As Expo 2020 visitors stay longer to experience what Dubai has to offer, this would be a great hassle-free investment opportunity for them. Through our innovative and inclusive condominium model, investors benefit from flexibility, peace of mind and a vacation home in a world-class luxury development in close proximity to the Burj Khalifa – a global icon.
The property is one of the tallest hotels in the area. Operated by the Accor group, the 75-storey tower has 254 hotel rooms, 371 residential units and 321 hotel apartments. The development features 75-story infinity pools, with views of the Burj Khalifa.
The SLS Dubai Hotel & Residences was designed by Aedas Architects and interior designer Paul Bishop. The developer WOW RED is a subsidiary of the MAPA group.