Action is back; Deyaar awards contracts worth AED370 mn

Work on Midtown community commences

Amit Chettupuzha

DUBAI/ November 24-2020: Action seems to be slowly coming back to the real estate sector that has been a major victim of the COVID-19-driven economic slow-down.

Deyaar Development, one of Dubai’s leading property developers and real estate service providers, has announced the commencement of construction on the third and fourth phase within its Midtown community.

With soil testing completed and initial earthworks currently underway, contracts valued at AED370 million have been awarded to the primary contractor Gammon & Billimoria for the project. Phase-three named ‘Noor District’, which is now open for sale.

Deyaar Flexi Program

The company said that serious buyers can benefit from the Deyaar Flexi Program that requires an initial payment of only 10 per cent and offers multiple settlement plan options extending for up to 10 years.

Once complete in the fourth quarter of 2022, Noor district is set to offer seven buildings with studios, one-, two-, and three-bedroom apartments, a host of retail and F&B options, sports facilities and vast green spaces, among other amenities, to serve the needs of the customers.

Notably, phase-three and four will add more than 32,000 square feet of retail space to the development.

Speaking on the announcement, Saeed Al Qatami (seen in the picture), CEO of Deyaar Development, said that the company designed Midtown to not only provide residents with an ideal home but to ensure that they could enjoy community living with all the basic amenities close to them.

“After the successful delivery of the first two phases, we believe this is the right time to start construction on the new districts. We have received excellent responses and we look forward to completing yet another top-notch development under our flagship Midtown development as we continue to deliver value to Dubai’s residents and business sector,” Al Qatami added.

For his part, Khalid Ababneh, Vice President, Projects and Engineering at Deyaar Development, said: “Designed to be an integrated community in Dubai Production City, Midtown boasts over 30,000 sq ft of retail space between the ‘Dania’ and ‘Afnan’ districts and encompasses an anchor supermarket, nursery, restaurants, ladies and gents’ salons and a pharmacy.” The combination of retail tenants has been meticulously selected by Deyaa to provide Midtown and Dubai Production City residents the most suitable retail mix with eight outlets expected to be operational within the next few months.

The development also has ample visitor parking as well as podium blocks and a number of relaxing green nooks.

Delivered Phases

To date, Deyaar has concluded 50 per cent of the Midtown development through completing and delivering the first two districts Afnan and Dania. Constituting a total of 13 buildings and more than 1,200 apartments, the two districts are now home to over 554 families.

With more than 2,000 units, the Deyaar’s development ranges from studios to three-bedroom apartments, offering a multitude of amenities designed to prioritise community living in a family-friendly environment.

 

Leave a Reply

Your email address will not be published. Required fields are marked *