Deyaar Development records AED 900mln sales in Regalia project

Over 85% of the units were sold-out

  
Nasser Amer - VP Sales and Customer service

Nasser Amer - VP Sales and Customer service

  • Project attracts local and international investors

Dubai: Deyaar Development PJSC (“Deyaar”), one of Dubai’s leading property developers and real estate service providers, announced sales of AED 900 million in its skyscraper project, Regalia in Business Bay that was launched early July this year.

The strategic location of the project, the smart home features and high-end amenities coupled with the exclusive launch proposition which includes three-year free service fees and full waiver on the property registration fees among many others benefits, were key drivers to the high sales absorption rates achieved in a relatively short period.

Commenting on this announcement, Nasser Amer, Vice President Sales and Customer Service said, “the project witnessed an overwhelming response from domestic as well as international investors seeking quality high-end developments reaffirming the level of trust and confidence our investors have in the quality of our developments and products. More than 85% of the units were sold which is a clear testimony to the appetite the market has for luxury developments”.

The company has recently announced the appointment of the main contractor and had the groundbreaking of the tower which is scheduled for completion in 2024. Regalia will be the tallest-ever residential project developed by Deyaar and will offer high-end studios, one, two, and three-bedroom apartments in addition to duplexes and luxury penthouses.

The 70-storey premium residential building will feature smart home-enabled apartments. It offers a wide range of recreational and wellness amenities, including an Olympic-size infinity pool, a state-of-the-art family gymnasium and an outdoor winter cinema. The project also features social amenities for the residents and their families to enjoy such as an indoor and outdoor children’s play areas and a Business Centre. The amenities are nested within a wealth of organic landscape and great lawns providing the perfect environment for residents to unwind and enjoy quality time.

With the successful launch of Regalia, further new projects are currently under study and the release announcements will follow in due course.    

Listed on the Dubai Financial Market and majority-owned by Dubai Islamic Bank (DIB), Deyaar is one of Dubai’s leading developers, with real estate ventures spanning key growth corridors and prime locations within the emirate. Over the years, Deyaar has delivered an extensive portfolio of commercial and residential properties with the highest levels of service and quality.

-Ends-

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 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 across the UAE.

Deyaar provides facility management services for its portfolio of commercial and residential units. The company 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 it is registered with the Real Estate Regulatory Authority under reference number 15/07.

For further information, please contact:
Ala Mansoor Hasan
PR Manager
Deyaar Development PJSC
Dubai – UAE
+971 4 3840175
alah@deyaar.ae 

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases