Dubai-based Deyaar Development on Sunday announced the launch of a new project called Montrose, which features a hotel apartment tower and two residential towers.
Residential units at Montrose, which is located in DuBiotech, a life sciences cluster under TECOM Investments in Dubai, will go on sale on September 6, Deyaar said in a statement.
The developer said the launch of the project is part of its plan to address the "growing demand for residential and well-appointed serviced apartments in Dubai".
The company's strategy to foray into the sector comes on the back of Dubai's bid to attract more than 20 million visitors by 2020.
Each of the towers comprises three basement levels and 19 storeys. The two residential towers feature 68 one-bedroom, 68 two-bedroom, five three-bedroom and two four-bedroom apartments.
The hotel apartment tower has been designed to feature 88 studios, as well as 68 one-bedroom and 24 two-bedroom units.
Saeed Al Qatami, CEO of Deyaar, said: "Montrose is a strategic project for Deyaar and offers an inspired blend of harmonious style and comfortable living. This project will help Deyaar meet the growing demand for exclusive, gated community projects in Dubai.
"We are confident the new project will set another benchmark of excellence for Deyaar and reiterate its continued industry leadership."