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DIB rebrands Global Real Estate to Deyaar

DUBAI - Dubai Islamic Bank (DIB) has rebranded its real estate arm Global Real Estate Development Company to Deyaar and has announced two new towers, Seef II and Seef III.

The new projects follow the tremendous success of the Al-Seef Tower on the Dubai Marina development. The two new projects, Seef II and Seef III towers will comprise of over 350 units and located at the Jumeirah Lake Towers development. The new towers comprise a mix of residential and retail outlets.

Building on the trust and tremendous success we recently achieved with the Al-Seef Tower, located on the Dubai Marina, we are proud to launch the Seef II and Seef III Towers on Nakheel's Jumeirah Lake Towers development,” said Dr. Mohammed Khalfan bin Kharbash, UAE Minister of State for Finance and Industry and Dubai Islamic Bank Chairman. The Dh550 million ($150.27 million) waterfront Seef II and Seef III Towers, with 39 and 34 floors of two (2) and three (3) bedroom apartments respectively combined with luxurious penthouses, were designed by DAR Consult. The two and three bedroom apartments range in size from 1,600 to over 2,700 square feet, while the penthouses spread over 5,200 square feet each - larger than most villas.

The towers have a three-level basement parking facility. The apartment high-rises lie in close proximity to other signature developments namely the Jumeirah Palm, Emirates Golf Course, the Gardens Mall, The Mall of the Emirates as well as the three main business hubs in Dubai, those being the Dubai Internet City, the Dubai Media City and the Jebel Ali Free Zone.

“Deyaar has always distinguished itself by providing the best value for money to our customers and residents. With Seef II and Seef III, we have pushed the envelope and gone beyond the ordinary in the design and lifestyle statement and value our residents and investors will gain from at the new developments,” said Zack Shahin, CEO of Deyaar.

The Jumeirah Lake Towers is located adjacent to the Shaikh Zayed Road between Interchange 5 and 6, comprises of 23 clusters, with each cluster having three towers. Clusters on the development are completely sold out. Each investor would then construct a tower on each plot within the cluster, to be used for residential, commercial or retail purposes, under the guidelines of Nakheel.