Palma Holding has announced two new signature real estate projects worth Dhs3.7 billion that it will be launching in Dubai in 2015. The UAE-based property company that specialises in luxury residential and mixed-use complexes will start work on the first of its developments in Q1 next year, which is to become the most exclusive beachfront residential project in Dubai. The project will be located on the prestigious Palm Jumeirah.
“Palma Holding is delighted to announce two new high-end developments in Dubai, with work on the first project starting early 2015,” said Kareem Derbas, CEO and Co-Founding Partner, Palma Holding. “The emirate’s real estate market is showing sustainable stability and growth, with investors increasingly confident in the sector. Palma Holdings’ strategy is to build on this existing confidence and generate even more optimism. We feel that it is the right time to introduce these two signature projects for our investors’ profitable investment,” he added.
Palma Holding’s first development on the Palm Jumeirah is a luxury beachfront residential project designed to be Dubai’s most exclusive. A mix of one, two and three-bedroom apartments and luxury penthouses will be constructed to make the most of the archipelago’s fantastic beach front. The company’s second project set to launch by Q4 2015 is a luxury residential project in one of Dubai’s premium locations.
Furthermore, in a non-residential development project, Palma Holding has partnered with the German Association in Dubai to develop the German International School in Dubai (GISD) in Academic City. Construction of the 1,000 student facility started in mid 2014, with the completion date expected to be in August of 2015 in time for the coming school year.
“Our focus is on developing projects in unique and prime locations across Dubai, namely Dubai Marina, The Palm Jumeirah and Downtown Burj Khalifa, with a priority on waterfront orientation. With location being the most important factor in real estate valuations, Palma Holding pays a great deal of importance to the location of its projects. We also develop projects with innovative concepts, developed uniquely to each project. This differentiation is evident in our real estate offering so far,” he said.
“Palma Holding is renowned in Dubai’s real estate sector for its luxury finishes and exceptionally high standard of appointments and facilities. It has established its name in the region with signature projects, including Silverene Towers, Dubai Marina, where the company’s Headquarter resides. By meeting the niche market for such premium developments, we are able to exceed customer expectations for high returns on their real estate investments,” added Derbas.
Established in Dubai in 1998, Palma Holding comprises four subsidiaries; Palma Development, Palma Real Estate, Palma Investment and Palma Asset Management. Through these subsidiaries, the organisation provides boutique and tailor-made property services for Dubai’s premium real estate sector with a completed development portfolio in excess of AED 3.6 billion.