Launch of Versace-designed homes

The children's play area in the Aykon Nine Elms luxury- apartment development in London is designed by Versace Junior.
The children's play area in the Aykon Nine Elms luxury- apartment development in London is designed by Versace Junior.PHOTO: DAMAC
Ziad El Chaar, Managing Director of Damac properties
Ziad El Chaar, Managing Director of Damac properties PHOTO: DIOS VINCOY JR FOR THE STRAITS TIMES
Versace interior design and styling raises the bar of luxury living in the capital.
Versace interior design and styling raises the bar of luxury living in the capital.PHOTO: DAMAC
 The residents lounge at AYKON Nine Elms.
The residents lounge at AYKON Nine Elms.PHOTO: DAMAC
 The indoor swimming pool at AYKON Nine Elms.
The indoor swimming pool at AYKON Nine Elms.PHOTO: DAMAC
Floor to ceiling windows take advantage of the expansive London views.
Floor to ceiling windows take advantage of the expansive London views.PHOTO: DAMAC

A London apartment block in the Nine Elms district on the south bank of the Thames will be launched here this weekend at the St Regis Hotel.

The Aykon Nine Elms, with 360 units over 50 floors, is being developed by Dico UK Property Holdings, a unit of Dubai's Damac International. A second tower provides office space and 18 floors of affordable and intermediate housing, where prices are capped at below-market rates for the local authorities to allocate to those who need such units. Nine Elms has long been an industrial area but is undergoing regeneration, with funding pumped in by private developers.

Aykon Nine Elms is Damac's first project outside the Middle East.

Mr Ziad El Chaar, managing director of Damac Properties, told The Straits Times that the company intends to leverage on its existing customer base, which largely comprises buyers from Britain, the Middle East and India. The property was launched in London and across the Middle East earlier this week.

He added that "when you're launching something related to fashion, you can't skip Singapore".

The home furnishings and common facilities in Aykon Nine Elms, such as the swimming pool, cinema and children's play area, have been designed by fashion house Versace, which Mr El Chaar believes will allow the homes to hold their investment value well.

The apartments range in size from studios to penthouses. Buyers who go for the larger units can also get a free interior design consultation with Versace, said Mr El Chaar.

But there is bad news for those who buy units to flip for fast profit. The developer's target is an even split between residential buyers and buyers who will be renting out their apartments, and Damac will have measures in place to prevent "people buying for pure speculation".

A version of this article appeared in the print edition of The Straits Times on July 25, 2015, with the headline 'Launch of Versace-designed homes'. Print Edition | Subscribe