Damac and Versace partner to open London residence

A subsidiary of Damac - DICO UK Property Holdings Ltd - has announced it will open a 50-storey, 360-unit residential tower in 2020 with interior design partner Versace.

The Italian fashion brand’s interiors arm, Versace Home will design the interiors, including lobbies and amenities, as well as fitting them out.

The property, affectionately known as Jenga Tower, will be the first of DICO's ‘fashion residences’, and will be in the Nine Elms area in London, adjacent to Battersea, which is currently undergoing a regeneration.

The tower will comprise studio, one-, two- and three-bedroom units, as well as penthouses. It will offer residents amenities that are rare in London residential towers, such as indoor swimming pool and spa, an owners lounge, children’s play area, roof garden and cinema, all of which will be designed by Versace Home.

Speaking about the investment, DAMAC chairman Hussain Sajwani, said: “There is a huge appetite from our current global customer base for luxury property investments in London. AYKON Nine Elms presents an unrivalled opportunity for them to access the stable and established London market.”

He also said that the area is close to Knightsbridge and Mayfair, where GCC residents are fond of shopping. In fact, Mayfair is known locally as “Little Doha”, due to so many Qataris buying homes in the area.

Gian Giacomo Ferraris, CEO of Versace said: “Versace is synonymous with fashion and luxury and its participation in the real estate business provides the opportunity to fully experience the Versace lifestyle. In recent years, the private residential projects have become a strategic part of the Versace world.

"Today, thanks to the collaboration with DICO UK Property Holdings Ltd and DAMAC - a developer whom we have worked with for many years and who shares our vision for the highest standards - we bring the ultimate expression of Versace’s lifestyle to the very heart of London".

Versace is also due to open its second hotel, Palazzo Versace, in Dubai, which recently moved one step closer to opening.