Deyaar unveils new residential tower at IMPZ

Published May 4th, 2008 - 01:29 GMT

In response to ongoing strong demand for its superior-quality offerings, Deyaar, the region's fastest growing real estate company, today unveiled Oakwood Residency, an AED 450 million residential tower at the up-and- coming International Media Production Zone (IMPZ). Strategically located in close proximity to major destinations in Dubai, the 18-storey undertaking is scheduled for delivery by the second quarter of 2010, with construction already underway.

Deyaar, which owns a number of strategically located plots in IMPZ, is slated to be one of the largest developers in this 43-million square foot master-planned, mixed-use community, which is situated close to major Dubai landmarks, including Dubai Internet City, Dubai Media City, Knowledge Village, Mall of the Emirates and the upcoming Al Maktoum International Airport in Jebel Ali. Conveniently located off Emirates Road, residents of Oakwood Residency will enjoy additional easy access to the emirate’s major gateways, Sheikh Zayed Road and Al Khail Road.

“I am delighted to announce the launch of this exciting new development in the heart of New Dubai,” said Saeed Al Qatami, Deyaar’s Managing Director – UAE Business. “Oakwood Residency is another landmark project for this fast-growing company, which continues to demonstrate its commitment to customer service, timely delivery and product excellence. For both homeowners and investors, Oakwood Residency represents a unique opportunity to participate in the emirate’s high-growth real estate sector.”

The company’s latest offering, Oakwood Residency, offers 344 one- and two-bedroom apartments, some of which offer maid’s accommodation and a study room. Set amidst a state-of-the-art residential and business community, the tower will feature a wide range of amenities, including a fully equipped gymnasium, separate sauna and steam rooms for men and women, a rooftop swimming pool, ample parking space and 24-hour security.

“As the owner of the largest land bank within the IMPZ master development, we are extremely optimistic about the potential of our planned projects in the master development,” Qatami added. “Reflecting our efforts to consistently enrich the product offering to our customers, we will soon announce our first mega- community style development at IMPZ.”

Buyers can avail up to 90 per cent financing from a range of home finance providers, including Abu Dhabi Commercial Bank, Amlak, Dubai Islamic Bank, National Bank of Dubai and Tamweel.

Deyaar stands at the forefront of the emirate’s property development sector, with most of the company’s launches sold out within hours. Deyaar’s projects, which enjoy high demand in the secondary market, span prominent locations across Dubai, including Jumeirah Lake Towers, Dubai Marina, Downtown Jebel Ali and Business Bay, where Deyaar is one of the single largest developers.

About Deyaar:
Deyaar Development PJSC is one of the fastest growing real estate companies in the region. Headquartered in Dubai, the company has grown significantly to evolve into a complete one-stop real estate solutions provider. Today, Deyaar is one of the most prominent brands in the regional real estate sector, with interests in development, property and facilities management, in addition to offering a range of services such as brokerage, marketing and sales. Deyaar’s strategic solutions and deep market insights have helped create exceptional value for its investors. The company currently manages over 16,000 commercial and residential properties. Deyaar is set to continue to play a pivotal role in the ongoing development of the region's property landscape. The company complies with the Escrow Legislation and all relevant laws in the UAE. Deyaar is registered with the Real Estate Regulatory Authority under reference number 15/07.



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