Aras Group launches first real estate project in Dubai
Dh75 million residential project spanning over an area of 17,000 square feet; Handover in the last quarter of 2021
Aras Group, a real estate company based in Dubai, has announced the launch of its first real estate project in Majan under the name "Aras Residence" at a total cost of Dh75 million.
The Aras Residence project is the company's first residential project in Dubai as the project includes a variety of residential options spanning over an area of 17,000 square feet, and a total building area of 140,000 square feet.
The building consists of eight floors that include studios with large areas starting from 431 square feet, one-bedroom apartments and a hall starting from 770 square feet, and two bedrooms and a hall with an area of 1,300 square feet in addition to one apartment located on the eighth and last floor of the building consisting of three bedrooms and lounge area of 2,443 square feet.
The architectural design of the building is inspired by a modern style; wide windows overlooking the Al Barari area will be provided allowing natural light to enter and to enjoy the beauty of the green areas there.
Aras Residence is in an attractive strategic location on Sheikh Mohammed Bin Zayed Road and near major areas in Dubai. It is 4 minutes away from IMG World, 8 minutes from Global Village, 15 minutes from Downtown Dubai, and 20 minutes from Dubai Marina.
The project will provide residents with a range of world-class amenities and facilities including a gymnasium, a swimming pool, and a children's play area, within a green environment, a wonderful atmosphere and 24-hour security.
The studios and residential apartments are distinguished by their modern and appealing design, with wide spaces and a focus on all details, taking care of all of a family’s needs in terms of privacy and luxury, and to provide a calm and harmonious living environment.
“We are pleased to announce the launch of Aras Residence, which represents the first project of Aras Group in the residential real estate sector in Dubai. This comes in response to the increasing demand for state of the art apartments that reflects our current strategy in developing projects. Through the Aras Residence project we are committed to upgrading the quality of residential real estate for buyers looking for an atmosphere of a modern lifestyle and a modern design,” said Ashraf Mahmoud, chairman of the board of directors of Aras Group.
"We started implementing the project during the pandemic and we were confident that the economic situation in Dubai would stabilise so we were keen to continue work according to the drawn plan," he said.
"Today, the project completion rate has reached more than 50 per cent and we are continuing to work so that the project is ready for delivery in the last quarter of 2021,” he added.
Alaa Masoud, head of the Marketing Department at Aras Group said: “Today we announce the opening of sales for the residential units for Aras Residence project, our first real estate project, as we also opened our bank escrow account for the project that is approved by the Real Estate Registration Department for the Government of Dubai. After the completion rate exceeded 50 percent, we also provided customers wishing to own a luxury property with easy payment plans of up to five years after handover."
He pointed out that the ownership of the housing units that are available for purchase in the project is freehold for all nationalities in accordance with the free ownership law in the UAE.
Within the framework of Aras Group's commitment to the precautionary measures imposed by the Health and Prevention Ministry, the company invites customers wishing to visit the model apartment to set a prior appointment and a sales staff member will contact them and set up an appointment so that customers can be up to date with the latest real estate projects of the group.
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