Dubai-based Ellington Properties said on Wednesday that it has signed an 300 million UAE dirhams ($82 million) agreement with brokerage firm Al Hilal Homes to expand its Villa Collection project in The Palm Jumeirah.
 
The company said in a statement that the new villas will join existing four beachfront villas that were launched in 2018 and sold for 75 million dirhams.
 
 Elie Naaman, Chief Executive Officer - International, Ellington Properties said: “With increased interest from affluent investors, we are now adding a cluster of bespoke villas to our Villa Collection at The Palm Island through our partnership with Al Hilal Homes."
 
He added that the villas will be targeted at ultra-high-net-worth customers.
 
(Writing by Syed Ameen Kader; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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