Arady Developments Announces Successful Sale of All Phase-I Residential Units Offered at Central Park Sales Event
Event Draws Record Number of Investors
Dubai - UAE: 16 September, 2013
Arady Developments (LLC), a joint venture between Deyaar Development PJSC (Deyaar) and Dubai Properties Group, today announced its two-day exclusive sales event registered record sell-out of the limited number of units released in phase-1 of its Central Park Residences project.
The exclusive event, held on 14 and 15 September, drew an impressive number of regional and global investors looking for on-the-spot booking of properties. Held at the Ritz-Carlton Hotel in Dubai, the event featured plush studio, one and two bedroom apartments, as well as duplex and triplex penthouses from the Central Park residential tower.
Arady Developments’ partnership with Dubai Islamic Bank for the Central Park Residences project served as a distinctive value-addition to potential investors looking for attractive funding options.
Arif Mubarak, CEO, Arady Developments LLC, said: “The phenomenal response from investors for phase-I firmly reiterate the strong growth trends witnessed by the UAE’s real estate sector. Amidst such buoyant market sentiment, we at Arady Developments are glad to bring an upscale project such as the Central Park Residences. The property reflects our commitment to providing investors with exemplary investment opportunities.”
Located in a prime area in DIFC, off Sheikh Zayed road, the Central Park residential tower is spread across nearly 575,000 sq ft and comprises 426 apartments. Insightfully conceptualised to reflect the upscale lifestyle of its residents, the tower is part of Arady’s ambitious Central Park project, a unique development that directly connects to the retail and F&B outlets at DIFC. The project spans over 1.57 million square feet of commercial and residential space. With nearly 80 per cent of the development complete, Central Park is scheduled to come online in the second half of 2014.
Notes to Editor:
About Arady Developments LLC:
Arady Developments is a limited liability company. Created in 2007, the company was established as joint venture between Deyaar development and Dubai Properties Group.
About Deyaar Development PJSC:
Deyaar Development PJSC is a leading real estate developer and real estate services company, headquartered in Dubai. Since its establishment in 2002, the company has registered exponential growth to become an industry leader in the region, with a share capital of AED5.78 billion.
Deyaar is well-positioned to play a pivotal role in the development of the region's property landscape. The company’s in-depth market intelligence, world-class services and unrivalled property management support for communities across diverse portfolios have firmly consolidated its pioneering status in the region’s real estate landscape.
Combining excellence with a vision to create natural living environments while placing customers at the core of its strategies, Deyaar additionally serves as a one-stop real estate solutions provider. Under this profile, its scope includes the delivery of end-to-end property development and property management services, overseeing 15,000 property units across the UAE. Deyaar also provides facility management services for its portfolio of more than 18,000 commercial and residential units. The company additionally spearheads an association management team to ensure the wellbeing of Deyaar’s homeowners as a key priority.
Deyaar complies with the escrow legislation and relevant property laws in the UAE and is registered with the Real Estate Regulatory Authority under reference number 15/07.
About Dubai Properties Group
Dubai Properties Group (DPG), a member of Dubai Holding, develops and manages properties, communities and destinations. Through its subsidiaries, DPG also offers end-to-end property related services.
Dubai Properties Group focuses on the creation of a broad range of quality communities in which to live, work, play and shop in addition to the development and management of key destinations in Dubai including both Dubailand and ‘The Walk’ at JBR.
Dubai Properties Group aspires to become the best partner in providing a reliable service through the creation of quality, value for money lifestyles, and by creating a world class organization that offers a wealth of industry knowledge and expertise. For additional information, please visit http://dpg.ae.
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