PHOTO
Image used for illustrative purpose. Visitors walk past the stand belonging to real estate developer Deyaar during the Cityscape real estate exhibition in Dubai October 2, 2012. Ahmed Jadallah, Reuters
Dubai-listed Deyaar Development has launched AYA Beachfront Residences, its first residential project in the Emirate of Umm Al Quwain.
The project's first phase will feature a collection of 442 premium residential units with nature-inspired interiors, the developer said in a statement to Dubai Financial Market on Monday.
The development will also include penthouses, sky villas, and ground-level beach homes (duplexes).
AYA Beachfront Residences is scheduled for completion in the fourth quarter of 2027.
No financial details were given but last week, the company announced it had signed an agreement with the state-owned Umm Al Quwain Properties to develop projects on Umm Al Quwain beachfront.
Umm Al Quwain Properties is involved in a joint venture with Dubai-based Sobha Realty to develop Sobha Siniya, a luxury real estate project on Al Siniya Island.
Sobha Siniya launched six major residential developments last year totaling 3,236 units and 3,709,368 sq. ft. of saleable area, and achieved sales of more than 4 billion UAE dirhams ($1.1 billion) within six months of launch. The units are scheduled for handover between 2027 and 2028.
(Writing by P Deol; Editing by Anoop Menon)
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