Half the units at Dukes Oceana Dubai Residences, a development of hotel apartments on the Palm Jumeirah in Dubai, have been sold within a week of launching to the market, according to the developer.

Seven Tides plans to showcase the project, along with another on the manmade island, at Cityscape Abu Dhabi, which opens today.

The Dukes Oceana units – all hotel-managed freehold residences – were launched for sale on April 14, and are part of a development of 227 studio and one-bedroom apartments targeted at investors.

Seven Tides guarantees a return on investment of 10% per annum for the first five years.

“Dubai continues to offer excellent value for money even at the higher end of the investment spectrum, especially when it comes to apartment square footage compared to other major metropolises,” said Abdulla bin Sulayem, chief executive of Seven Tides.

“Palm Jumeirah is also the only development in Dubai that has experienced an increase over its Q4 2008 highs, with rates up by 4% in 2014 alone.”

Seven Tides will also showcase its Anantara Residences Dubai at Cityscape, which runs until April 23.