Exclusive residential-only development on Palm Jumeirah Crescent has seen 25% of its raft casting already complete
Palma Development has announced that its premier residential complex, Serenia Residences, is making remarkable progress in its construction, with 25% of its raft casting already completed. Khansaheb has been assigned as the main contractor for its exclusive Serenia Residences, the sole residential-only community to take up space on Palm Jumeirah's Crescent.
Kareem Derbas, CEO and Co-Founding Partner of Palma Holding, said, "With a value of AED 400 Million, Khansaheb is well on track to successfully completing Serenia Residences, with a timeframe of around 22 months from the date of signing. Basement-to- ground-floor columns and core wall construction have started, while water proofing and retaining wall works are ongoing."
Hassan H. Nia, Chief Executive Officer, Banian FZCO said, "We are extremely pleased with the progress of the development till date. The project is well on its way to completion and the construction is on-track for a timely delivery."
In addition, the slip form systems have been successfully installed, and the crane installations are also in progress. Streamlined procurement processes are underway and an MEP contractor has been awarded and mobilized to the site. In addition, a 500-strong manpower team, including an aluminum and glazing contractor, has been enlisted to assist in the construction process.
Serenia Residences is a premium community development that features residential apartments and penthouses close to the water's edge. Serenia Residences' prime location and its wealth of high level amenities will see it as the most exclusive beachfront residence in the city.
Designed by famous architect Hazel Wong, the Serenia Residences project is one that is exclusively residential and features contemporary architecture and layouts unique to the Palm Jumeirah. The 850,000 sq. ft. development comprises 250 units, with apartments ranging from one to four-bedrooms and penthouse suites.
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About Palma Development:
Palma Development is a subsidiary of Palma Holding. Through its four subsidiaries; Palma Development, Palma Real Estate, Palma Investment and Palma Asset Management, Palma Holding provides unrivalled, boutique, client-focused services and tailor-made development in Dubai's premium real estate sector. Since its inception, Palma Holding has completed over four million square feet of premium properties in Dubai worth a total of over AED 3.6 billion (USD 1 billion) with another Aed 3.6 Billion USD 1 billion in the pipeline". The group's main areas of focus are Dubai Marina, The Palm, Business Bay, Downtown Burj Khalifa District and other prime locations.
© Press Release 2016
