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Sat 29 Sep 2018 10:25 AM

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Dubai's Deyaar reveals progress with Midtown construction, sales

Deyaar Development says construction of Afnan and Dania districts in its flagship Dubai project have reached the halfway point

Dubai's Deyaar reveals progress with Midtown construction, sales

Deyaar Development has announced that the construction of Afnan and Dania districts in its flagship Midtown project have reached the halfway point, with unit sales in both districts exceeding the 87 percent mark.

The update follows the handover of two residential projects within its portfolio earlier this year, the Dubai-based developer said in a statement.

A community in Dubai Production City with a built-up area of 5.5 million sq ft, Midtown comprises 27 buildings across six districts, that will share a single-level podium covering retail, parking and essential services.

Deyaar added that work on the Deyaar Millennium Hotel and Serviced Apartments is expected to wrap up by the end of 2018.

The hotel will have 408 units, including 299 hotel rooms, of which 15 will be suites, in addition to 109 serviced apartments - a mix of 93 one-bed and 16 two-bed apartments.

In March, Deyaar handed over the residential towers of the Mont Rose development, a project located in Dubai Science Park. Mont Rose comprises three towers – one with hotel apartments, and two residential. Both residential towers feature 146 one-bedroom, 144 two-bedroom, and seven three-bedroom apartments. The hotel apartment tower has been designed to offer 126 studios, as well as 72 one-bedroom apartments.

Since July, the handover of Deyaar’s residential tower, The Atria, has also been ongoing. The Atria comprises 219 units over 30 floors, including one to three-bedroom apartments, three-bedroom duplexes, and four-bedroom penthouse.

The hotel apartment tower is composed of 347 bespoke apartments, including studios, one, two and three-bedroom apartments, and three-bedroom duplex units, with construction now complete.

Saeed Al Qatami, CEO of Deyaar said: “We have demonstrated that this year with two of our flagship residential projects, the Mont Rose was delivered to the owners earlier this year, and we have recently initiated the handover process for The Atria. Deyaar will continue to develop and deliver properties inline with the UAE’s wide-ranging community needs and preferences.”

Deyaar is listed on the Dubai Financial Market and majority-owned by Dubai Islamic Bank.

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