Deyaar, the region's leading real estate developer and wholly owned subsidiary of Dubai Islamic Bank, has announced the launch of its new project, the Madison Residency, a 26-floor residential tower being built in the Technology, Electronic Commerce and Media (TECOM) free zone along the emirate's main Sheikh Zayed Road.
Zack Shahin, CEO of Deyaar said: "This is a happy occasion for us, as it marks yet another success in the growing list of Deyaar's prestigious projects in the UAE and the Middle East. The Madison Residency is ideally situated in an upcoming business locality in proximity to the dedicated media and IT hubs, the Dubai Media City and the Internet City. It is among the first purpose-built projects to offer residents a luxurious lifestyle at an attractive financial package.
Slated for completion in March 2008, the state-of-the-art development will bring on the market, 161 luxurious studio apartments, 52 single-bedroom and 99 double-bedroom apartments offering fully-equipped accommodation to those working in the New Dubai locality. It is designed by internationally acclaimed German consultants, M/s KLING Consult, who are involved in several other prestigious projects in the UAE.
Madison Residency will offer facilities such as central air-conditioning, a fully-equipped gymnasium, separate sauna and steam rooms for men and women, children's play room, roof garden with swimming pools for adults and children, spacious underground parking facility, high-speed Internet connection and high-end security systems such as 24-hour automated surveillance, CCTV system and access control systems.
"Deyaar is committed to providing a high-quality product and will ensure that the project is completed on schedule and within the allocated budget. This commitment, backed by the company's AED 1 billion-strong capital base and sound diversification strategy, has brought Deyaar a dedicated clientele, widening its base of investors and making it the major industry player it has emerged in the UAE, the Middle East and North Africa today," Shahin added.
Deyaar has a slew of projects to its credit, the most notable of which are the residential and commercial Churchill Towers and The Citadel, coming up in Dubai's elite new district, the Business Bay. The company manages more than 16,000 residential and commercial units across 700 buildings in the UAE, that generate over AED 300 million of rental income for property holders. It also provides leasing, maintenance and brokerage services for residential and commercial properties.
About Deyaar:Deyaar, the leading real estate company headquartered in Dubai was launched in 2002 as a 100 per cent subsidiary of Dubai Islamic Bank. The company was set up with a capital base of AED 1 billion to provide a range of property development, management, leasing and brokerage services for residential and commercial properties. Deyaar manages over 16,000 residential and commercial units across 700 buildings. The company's emphasis on value added services and its in-depth understanding of customer-needs have been a major factor behind its significant growth and success in the recent years.
[c] 2006 Al Bawaba (www.albawaba.com)
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