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· Strong demand for Dubai properties from overseas investors
· Leading real estate brand will introduce Deyaar's popular Dubai development to Turkish investors
Dubai, UAE - Deyaar Development PJSC, one of Dubai's largest property development and real estate services companies, today announced details of a strategic partnership with Aşçıoğlu, a leading Turkish real estate brand. Aşçıoğlu will introduce an exclusive tower in the Dania District of Midtown to Turkish investors keen to invest in the thriving UAE property market.
Dania District is the second phase to be constructed of the grand 1.2 million square feet mega Midtown development. Comprising a built-up area exceeding five million square feet, Midtown is located in Dubai Production City, the growth corridor of the city, close to the Jebel Ali port, Expo 2020 and Al Maktoum International Airport.
The co-branded property, will be the first time Aşçıoğlu's prestigious property brand Selenium, has branched overseas, a testament to Dubai's continuing success in attracting overseas property investment. The Selenium portfolio includes many significant properties in Istanbul including the landmark 'Selenium Twins Towers'. The exclusive tower in Dania District will be customised to the needs and tastes of Turkish customers with the high quality architecture and living environment for which Deyaar is renowned.
The partnership was announced today in Dubai by Deyaar's Chief Executive Officer Saeed Mohammed Al Qatami and Chairman of Aşçıoğlu, Yaşar Aşçıoğlu. It follows a memorandum of understanding signed by the two companies in June 2015.
Commenting on the announcement, Saeed Al-Qatami said: "Deyaar's properties offer a superior living environment, optimal value and solid return on investment and this is generating strong demand from overseas. We are confident that Midtown, which delivers ultimate levels of comfort and convenience in an urban community living space, will appeal to Turkish investors."
"With nearly half a century of experience in real estate development, Aşçıoğlu was a natural choice of partner for Deyaar. Their commitment to customer service is aligned to our own high standards, so we can be sure our customers in Turkey will receive a high quality end-to-end experience."
Commenting on the partnership, Saeed Al Falasi - Executive Director, of Dubai Production City said: "We are delighted to see two firms of such calibre teaming up to take advantage of the outstanding environment Dubai Production City offers. Located near the Expo 2020 site and Al Maktoum International Airport, Dubai Production City is a strategic location for this venture, offering excellent opportunities to provide a comprehensive community to live and work."
Yasser Aşçıoğlu, Chairman of Aşçıoğlu Group said "We set out with the objective of making "Selenium" a world brand. After Istanbul, we chose Dubai, one of the world's visionary entrepreneurial capitals. Thanks to Midtown by Deyaar, we have brought a prominent Turkish housing brand, Selenium, abroad for the first time"
This announcement follows a successful property roadshow held by Deyaar in Mumbai, India, earlier this month showcasing Deyaar projects to Indian investors. The partnership is further evidence of the popularity of UAE's property market as an investment opportunity for overseas buyers, attracted by the region's stability, excellent infrastructure and lucrative rental yield. Deyaar is well placed to take advantage of overseas investors targeting the robust Dubai property market with an attractive offering of high quality properties, simple payment plans and low cost of entry.
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About Deyaar:
Deyaar Development PJSC is a leading real estate developer and real estate services company, headquartered in Dubai. Since its establishment in 2002, the company has registered exponential growth to become an industry leader in the region, with a share capital of AED5.78 billion.
Deyaar is well-positioned to play a pivotal role in the development of the region's property landscape. The company's in-depth market intelligence, world-class services and unrivalled property management support for communities across diverse portfolios have firmly consolidated its pioneering status in the region's real estate landscape.
Combining excellence with a vision to create natural living environments while placing customers at the core of its strategies, Deyaar additionally serves as a one-stop real estate solutions provider. Under this profile, its scope includes the delivery of end-to-end property development and property management services, overseeing over 20,000 property units across the UAE. Deyaar also provides facility management services for its portfolio of more than 18,000 commercial and residential units. The company additionally spearheads an association management team to ensure the wellbeing of Deyaar's homeowners as a key priority.
Deyaar complies with the escrow legislation and relevant property laws in the UAE and is registered with the Real Estate Regulatory Authority under reference number 15/07.
For further information, please contact:
Khalid Yahya
Ala Hassan
ASDA'A Burson-Marsteller
Deyaar Development PJSC
Dubai - UAE
+971 4 450 7633
+971 4 3840950
Khalid.Yahya@bm.com
alah@deyaar.ae
© Press Release 2016
