UAE: WOW RED, the developer of the SLS Dubai Hotel & Residences in the Burj Khlaifa district, is offering fractional ownership in the units at the property.
In a statement, the developer said: “Fractional ownership is an attractive opportunity for investors who prefer other asset classes and would like to add real estate to their portfolio. With this product, SLS Dubai is set to revolutionise property investments in the UAE as a safe and feasible way to invest in the sector, offering a whole new investment asset class.”
SLS fractional ownership offers an individual ownership certificate for each fraction. These can be resold without obtaining NOC from other fraction owners.
Yahya Alkan, CEO of WOW RED, said: “The fractional ownership investment at SLS Hotel & Residences is a groundbreaking initiative for the region, as we are making luxury real estate investments more accessible to more regional and international investors, especially Expo 2020 Dubai attendees from across the globe who make up one of the major audiences. As Expo 2020 visitors are staying longer to experience what Dubai has to offer, this would be a great hassle free investment opportunity for them. With our innovative and inclusive model of fractional ownership, investors enjoy flexibility, peace of mind, and a vacation home in a world-class luxury development that is in close proximity to the Burj Khalifa – a global icon.”
The property is one of the tallest hotels in the region. Operated by the Accor Group, the 75-storey tower has 254 hotel rooms, 371 residential units, and 321 hotel apartments. The development features infinity pools 75 storeys high, with views of the Burj Khalifa.
SLS Dubai Hotel & Residences is designed by architects Aedas and interior designer Paul Bishop. Developer WOW RED is a subsidiary of MAPA Group.
