Deyaar launches two residential towers at Business Bay

Published May 28th, 2007 - 02:16 GMT

Deyaar, the region’s fastest growing real estate company, announced today the launch of two exclusive residential towers at Business Bay - Mayfair Tower and Mayfair Residency.  The over AED 360 Million endeavor follows the phenomenal success of recently launched projects that were swiftly sold out, Fifty one @ Business Bay, Hamilton, and Metropolis.


“Our simultaneous launch of two residential towers caters to the tremendous demand from our customers, as evidenced by the quick sell out of our projects at Business Bay”, said Zack Shahin, Deyaar’s Chief Executive Officer.


The adjoining towers feature stunning views overlooking the lake and are separated by a large landscaped area. Each tower offers a number of amenities; landscaped terrace garden, state of the art gymnasium, swimming pool, sauna and steam room, high speed internet connectivity as well as 24 hours maintenance and security.


The two towers will offer a choice of one and two bedroom apartments. While Mayfair Tower will encompass 218 residential units, Mayfair Residency offers 213 apartments.


Customers are due to benefit from a payment scheme that is considered unique within the UAE’s real estate industry.  After paying a booking fee of 10%, the next installment would be due only 12 months thereafter, in June 2008.


Such a payment plan enables clients to save on financing costs during the substantial part of the construction period and also alleviates the burden of paying the installments during that period. “Through our unique payment scheme, we aim to provide the most cost effective and convenient payment method in the UAE market. The number of repeat buyers that we have experienced is a testament to that fact” commented Shahin.


Whilst Deyaar is one of the largest developers at Business bay, it has existing projects within Dubai Marina, Jumeirah Lake Towers, Tecom, and Sharjah. With an extensive land bank, Deyaar is due to roll out an exciting portfolio of projects across the UAE.


The company leads the property management segment with approximately 16,000 units in the United Arab Emirates.

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