Damac launches serviced apartments at Expo site

DAMAC Properties has unveiled a luxury serviced hotel apartments project at the heart of the emirate’s proposed Expo 2020 site.

Celestia, as it is known, will comprise of studios, one and two bedroom apartments across an eight-floor complex and will be located in Dubai World Central Residential City, near to the new Al Maktoum International Airport.

Facilities will include a retail area featuring fine-dining restaurants and designer boutiques, as well as state-of-the-art fitness and leisure amenities.

Prices start from AED621,000 ($169,000), with the project slated for completion in 2016.

DAMAC, which listed its shares on the London Stock Exchange in December, posted a net profit of $641.5 million last year, against $212.5 million in 2012. Revenue for the year grew 77 percent to $1.2 billion.

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