Around 10,000 units were delivered in Dubai and 1,600 in Abu Dhabi in Q1, demonstrating strong growth in the UAE’s residential sector
business3 days ago
The Dubai-based developer Mashriq Elite Developments has launched a new project Floareá Residence which would feature a waterfall among its amenities amidst strong demand for off-plan properties.
The waterfall will have a height of five metres and a 30-metre width.
Kamran Muhammad, CEO of Mashriq Elite, said the Dubai real estate market is thriving, therefore, it’s the right time to enter the market. The emirate’s off-plan segment has already registered a sales value of Dh126 billion in 2023 in the first three quarters of this year, reflecting demand for new projects continues to remain high.
“The outlook for the property market is good. Dubai Hills, Al Furjan, Arjan and Studio City have good potential because prices are budget-friendly and customers get a lot of amenities as well. In the past quarter, there was an average appreciation of 20 per cent in prices,” he said.
Located in the Arjan area, Floareá Residence comprises 206 residential units, including Studio apartments, 1-bedroom and 2-bedroom apartments. The prices start from Dh515,000 and go up to Dh1.375 million.
“The main key feature is a grand waterfall which is falling from an Infinity pool from the first floor to the ground floor. The soon-to-be grand waterfall is an iconic structure in the Arjan Community, along with a state-of-the-art clubhouse, yoga studio, barbecue courtyard, gymnasium, children's indoor and outdoor play area, steam and sauna facilities, and more amenities. Additionally, lush landscapes surround the project, having Dubai Miracle Garden and Dubai Butterfly Garden within the community,” said Muhammad.
Work on the Floareá Residence started a few months ago and is scheduled to be completed by the first quarter of 2025.
ALSO READ:
Around 10,000 units were delivered in Dubai and 1,600 in Abu Dhabi in Q1, demonstrating strong growth in the UAE’s residential sector
business3 days ago
We see a large whitespace opportunity in both the UAE and Saudi Arabia, an important factor in our plans for continued expansion of our store network: Sunil Kumar
business3 days ago
The provider may also expand its services to privately owned developments and centres, including shopping malls and commercial hubs
business3 days ago
Total revenues reached Dh215.3 million from January to March in the company's first financial results after the success of its IPO
business4 days ago
Very few global destinations offer integrated packages of entertainment experiences
business4 days ago
Group in negotiations across several markets
business4 days ago
International passenger traffic increased by 20 per cent in March 2024
business4 days ago
Core taxi segment revenue up 15% year-on-year
business4 days ago