Palma Development has announced the appointment of Dubai-based Khansaheb as the main contractor for Serenia Living on the Palm Jumeirah.

The 3 billion UAE dirham ($817 million) luxury beachfront development is located on the first plot of the west crescent of Palm Jumeirah.

Palma Development said in a press statement that the contract award follows the completion of foundation works.

Serenia Living will offer 226 apartments and penthouses, including Sky Mansion valued at over AED 200 million ($55 million), the statement said.

Hassan H Nia, Founder and CEO of Banian FZCO - owner of Serenia Living, said Serenia Living is the company’s second project with Khansaheb, following the completion of Serenia Residences The Palm in 2018.

He said the project is expected to be completed by the fourth quarter of 2025, with handover beginning in the first quarter of 2026.

Kareem Derbas, CEO and Founder of Palma Development added that demand for luxury properties in Dubai has reached unprecedented levels, adding that Serenia Living “will set new standards of luxury.”

Serenia Living was launched in October 2022.

(Writing by Senthil Palanisamy; Editing by Anoop Menon)