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.

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