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Mon 4 Jan 2016 02:39 PM

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Saudi firm launches first UAE real estate project in Downtown Dubai

ARTAR Real Estate Development says Mada Residences project will include 193 luxury apartments

Saudi firm launches first UAE real estate project in Downtown Dubai
(Photo for illustrative purposes only)

A Saudi Arabian-based conglomerate has announced the launch of its first luxury residential real estate project in the UAE.

ARTAR Real Estate Development, the property development arm of Abdul Rahman Saad Al Rashid & Sons Co, has unveiled plans to build Mada Residences in Downtown Dubai.

Mada Residences will feature a total of 193 units of various sizes, with floor-to-ceiling glass throughout, it said in a statement.

Residents will have access to a roof-top swimming pool, children's pool and terrace lounge, as well as sauna and steam rooms, Jacuzzi, gym and a multi purpose residents lounge.

Sulaiman Abdulrahman Al Rashid, CEO of ARTAR Real Estate Development, said: "Mada Residences has been launched to bring a new standard of living to one of the most sought after addresses in the UAE, Downtown Dubai.

"Each apartment, whether one, two, three or the exclusive four-bedroom, is highly appointed and characterised by generous living areas and modern finishes."

He said apartments in Mada Residences are being made available to customers through a special payment plan which requires 30 percent during the first year and the final 70 percent to be paid upon completion of the project, adding that the company is in the process of establishing commercial arrangements with local banks.

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