Serenia Residences signs US$140m Palm property deal | News

Serenia Residences signs US$140m Palm property deal | News

Serenia Residences has introduced the invest in of the most high-priced plot by a non-public trader in Dubai this yr in one particular of the biggest land offers in the United Arab Emirates.

The deal is well worth a noted AED508 million ($140 million) on the crescent of the Palm Jumeirah.

The plot will be applied to acquire a new beachfront progress, following the effective completion and gross sales of Serenia Residences — the most exclusive beachfront residences at the crescent of the Palm, said the developer.

The new task, really worth AED2.5 billion, has a constructed-up area of somewhere around 1.2 million square foot, and will be produced by Palma Keeping.

A prestigious identify in the genuine estate market, the firm formerly completed iconic residential initiatives, this kind of as Silverene Towers and Olivara Residences, as nicely as the renowned Serenia Residences, the Palm.

Hassan H Nia, main executive of Banian, the owner of Serenia Residences, reported: “Following the completion and close to offer-out of Serenia Residences, we are enthusiastic to order this landmark plot to develop yet another masterpiece on 1 of the most special areas in Dubai, the Palm Jumeirah. 

“Dubai is one particular of the world’s safest havens for buyers, designed evident by the transactions that have surpassed pre-pandemic amounts as well as by the number of intercontinental investors who are deciding upon Dubai’s authentic estate market to obtain property.

“The vision and long-phrase approach of the emirate’s management encourages us to preserve making and investing in a town that by no means fails to amaze and exceed anticipations.”

The new venture will be released in 2022, and far more specifics will be introduced in because of class.

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