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Deyaar Development has launched 1.5 billion UAE dirhams ($408.4 million) Park Five, a luxury residential community in Dubai Production City.
The project’s first phase will include Elm and Ember towers, featuring studios, one-, two-, and three-bedroom residences, the developer said in a statement to the Dubai Stock Exchange.
The project will incorporate greenery and communal spaces with traditional sikkas, or Arabian-style pathways. The two towers will offer yoga lawns, outdoor co-working spaces, fitness centres, infinity-edge pools, and children’s play areas.
The first phase is scheduled for completion in summer 2027.
Earlier this month, the Deyaar and Arady Properties joint venture launched Rivage, a residential project on Al Reem Island in Abu Dhabi.
(Writing by P Deol; Editing by Anoop Menon)
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