Mayfair Launch – The 118 Downtown Dubai
Wetherell have been appointed by UAE based luxury property developer Signature Developers to hold a Mayfair exhibition for the international launch of The 118, Dubai’s most luxurious residential skyscraper, in order to market the ultra-prime residences to international super-rich buyers based in London.
Dubai schemes launched in London are normally off-plan sales, however for the first time in the UK, The 118 is being launched build complete with finished residences and dressed show-units by international design houses Fendi and Roberto Cavalli, enabling London buyers to purchase and move in immediately. The Mayfair exhibition is being held on the 9th and 10th May 2018 (9am to 5pm daily) at the Four Seasons Hotel on Park Lane, London W1J 7DR.
The 118 in Downtown Dubai is a £125 million (GDV) 44 storey landmark residential skyscraper providing 28 finished bespoke full-floor 4-6 bedroom residences, including two duplex penthouses, including 6-star entrance lobby and world-class amenities. The project won the IADA 2018 Best Residential Design Award.
For the international launch in Mayfair, residences on the upper 14th to 44th floors are being released for sale. Twelve residences (45%) were launched and successfully sold at a Phase 1 domestic launch in Dubai, with 80% of the purchasers consisting of high-net-worth international buyers, many of whom have business or family connections in London – hence the decision to do the international launch in Mayfair which has a large Southern Asian community.
Located off Dubai Fountain Street in Downtown Dubai, the heart of the New Dubai, The 118 provides 28 residences in an elegant glass and stone faced residential skyscraper, complete with concierge and lifestyle amenities in the base podium. Each of the lateral residences is designed to provide up to four bedrooms, occupying their own entire private floor within the tower, with the six bedroom duplexes having two entire levels.
Working in close collaboration with the directors of Signature Developers, The 118 residences were designed by Sarah Hamid, Project Director at award winning international design and architectural firm Hirsch Bedner Associates (HBA) which specialises in luxury hospitality, hotel and resort projects for brands including Raffles, Shangri-La, Ritz-Carlton and Four Seasons.
The multi-purpose club lounge at The 118 was designed by London based British-Indian interior designer Shalini Misra, Director of Shalini Misra Ltd (SML), which has a portfolio of projects across London and Manhattan. The landscape architects are Cracknell, with the lighting scheme devised by Illuminate.
Providing up to four VIP bedroom suites, the lateral residences offer 6,600 sqft (613 sqm) of immaculately designed and presented living space, with 14 ft (4.2m) ceiling heights, bordered by floor to ceiling picture windows, opening onto large sky terraces. Features include bespoke specification, grand doorways, custom made joinery and the luxurious finishes in the finest stone, wood and marble.
Because each span an entire floor there is an extraordinary arrival experience once residents and visitors step out the elevator and enter their own private lobby. Inside, the double-volume living rooms have coffered ceilings with light features, opening onto the sky terraces. The bespoke design, fully fitted, family kitchens are by SieMatic with central island, Miele integrated appliances and breakfast dining area.
The master bedroom suites have coffered ceilings and marble flooring, and master bathrooms with free-standing bathtubs, bespoke joinery with backlit mirrors, cabinets and Kohler fixtures. Each residence has three parking bays.
Considered to be amongst the most luxurious penthouses created in Dubai, the six bedroom duplex residences have stunning reception rooms with double height (28 ft / 8.4m) ceilings and double height floor to ceiling windows offering breath taking views of the Dubai Fountain, the Opera and Downtown Dubai.
The high ceilings create a feeling of grandeur and elegance which rivals the very best living spaces in Mayfair, Monaco and Manhattan.
The lower floor of each duplex has a grand entrance hall with feature staircase leading to upper floor, double height living and dining room opening onto sky terrace, family living room opening onto private terrace, long gallery for artwork, family kitchen and breakfast room leading onto terrace and two bedroom suites.
On the upper floor there are four Ambassadorial sized bedroom suites, including the Presidential master bedroom suite with day area, study, master bathroom and walk-in dressing room.
Designed like a 6-star hotel, The 118 has a glass walled two storey high ground floor entrance lobby with raised ceilings, marble flooring and walls. The arrival experience is enhanced with signature elements such as the hand blown Bohemian Crystal chandelier, wall glass and metal lights, plush seating areas and concierge service. From the Lobby state-of-the-art high speed elevators take residents and visitors to the residences on the upper floors.
The world class amenities include a fitness centre with club lounge room, gymnasium, treatment room, steam rooms; 30,000 sqft pool/entertainment deck with temperature controlled pool and loungers on podium level 5 and a Sky Terrace on the top floor hosting a 4,000 sqft rooftop sunset lounge.
The 118 is the only building besides the Burj Khalifa to have an ultra secure and private courtyard and drop off lobby. The 118 is managed and operated like a hotel by a dedicated uniformed staff of concierge, doormen, valet and maintenance team. The parking bays are located in a five level podium complex, with direct lift access and chauffeur accommodation.
The 118 has been designed with environmental sustainability high on the agenda. Energy efficiency and energy consumption has been carefully calculated and controlled. Features include an energy system that allows for less water needing to be heated, sanitary ware with high-jet performance and low-flow flushing systems and faucetry with flow limitation and special spray jet technology allowing the mixing of water with air to keep water consumption down. The public spaces use premium lighting control systems with integrated sensors, to keep energy use down.
Raju Shroff, Director at Signature Developers says: “We wanted to deliver an exceptional address and residences. Rather than a conventional design approach, instead, the residences at The 118 have been innovatively designed from the ‘inside-out’ with the floor plans and layouts developed first and the exterior shell created later. This has resulted in a scheme which provides the ultimate, customised residence, each carefully attuned to the needs of the resident, with each home occupying its own private floor.”
Jayant Ganwani, Director at Signature Developers says: “This is a legacy project and therefore the design of these residences has had substantial personal input from myself and Raju Shroff. We worked with the designers to look at the specification and quality we would want in our home, and the features and lifestyle we would want our friends and family to feel and enjoy. The result is that each residence has all the comforts of a pristine mansion, paralleled with cosmopolitan living and world class amenities.”
The residences at The 118 provide “exceptional luxury-value for money” when compared to other cities around the world, since the purchase costs are as low as £665 per sqft. Prime Central London equivalent values are £2,500 to £4,000 per sqft so for second home owners and portfolio investors Dubai offers outstanding value.
Each year a growing number of UK based residents choose Dubai as a destination to own a home, invest, holiday and do business. There are now over 19,000 UK nationals who own property in Dubai and the City has over 850,000 tourist and business visitors from the UK each year, rising by 10% per anum since 2012.
With 80% of the existing purchasers consisting of high-net-worth international buyers, many with business or family connections in London, Mayfair was chosen as the location of the international launch for The 118.
We were chosen as Signature Developers sole UK & International agent, with a six month sales agreement, because of their market knowledge and leadership in the Mayfair and wider West End market, home to a large network of UK and international based ultra-high-net-worth residents.
The 118 will have particular appeal to domestic British, Indian and Asian buyers who have homes in Mayfair, but are looking for a second or third home for leisure and business. Indian property purchasers, investors and developers have purchasing over £1.5 billion of luxury homes, estates, hotels and leisure outlets in Mayfair/West End over the last three years.
Each year some 3,000 high-net-worth Indian families escape the heat of the Indian and Dubai summer make Mayfair their summertime address, living in their London homes, renting property or staying in luxury hotels. As a result, over the last five years Indians are the largest group of overseas buyers in Mayfair, comprising 25% of all purchasers (second only to British based buyers), ahead of Asian and Continental European buyers (19% of all purchasers) and Russians and Middle Eastern buyers, who now comprise just 13% each of all buyers.
Peter Wetherell, Chief Executive of Wetherell says: The subcontinental buyers in Mayfair typically have a home for banking and family education in London, a family home in the city and homes for business and leisure in either Dubai, Monaco, Manhattan or Los Angeles. They will spend anything from £2 million to £20 million on purchasing a home in Mayfair, with 70% buying an apartment or penthouse and the balance acquiring a mansion, townhouse or mews property. Providing value-on-investment, a world-class destination and a low tax environment, The 118 in Dubai is a logical choice for these multi-national residents.
International buyers in London are used to homes with an extremely high specification and hotel style amenities. Signature Developers have been extremely clever in waiting until the scheme is finished before launching it in London, since premium buyers now want ‘turn key’ product. The 118 has every luxury and leisure amenity imaginable, and the Fendi and Roberto Cavalli brands and luxury interiors clearly demonstrate that this is an international product of a standard that can rival London, Monaco, New York, Singapore and other luxury destinations.
The 118 residences offer a choice of two styles; ‘Signature Classic’ or ‘Signature Contemporary’. Prices range from £4.55 million to £5.3 million for a lateral residence, with driver’s/staff room/quarters. The penthouses are priced at £10.73 million and £11.875 million. To attend The 118 Mayfair exhibition on the 9/10th May at the Four Seasons Park Lane contact sole agent Wetherell on Tel: +44 (0)207 529 5560