A Memorandum of Understanding has been signed by Arady Properties – PSC, an Abu Dhabi-based real estate company, and Deyaar Development PJSC, one of the top real estate developers and service providers in Dubai, the United Arab Emirates (UAE), to establish a joint development project in Deyaar Al Reem Island at Abu Dhabi.
The Memorandum of Understanding (MoU) serves as a foundation for future agreements between the two firms, outlines the project's economic objectives, and investigates the possibility of developing the project on a shared ownership basis.
The deal was completed with the signing of a memorandum of understanding (MoU) between Arady Properties' managing director Khalifa Alzaabi and Deyaar CEO Saeed Al Qatami.
As we continue to grow our portfolio of projects in the area to service clients outside of Dubai, we are thrilled to establish this significant cooperation with Deyaar Al Reem Island In Dubai. We have been working with several partners as part of our efforts to make sure that every project we select lives up to the expectations of our shareholders and esteemed consumers. This arrangement nicely fits with the goals of a critical element in our plan, which is to carefully pick important sites and partners for our next initiatives.
We are thrilled to start working, with a well-known brand in the real estate industry. Our goal is to create an Abu Dhabi residential property that sets new standards for quality, inventiveness, and customer-centricity. I do not doubt that this memorandum of understanding will point us in the right way so that we may pool our knowledge and greatly contribute to the expansion and development of Abu Dhabi's real estate market by offering unique and alluring residential alternatives to both domestic and international clients.
With a common goal of leveraging decades of experience to develop an Abu Dhabi residential project, the Memorandum of Understanding (MoU) is a major milestone in the potential partnership between Arady Properties and Deyaar. Following the MoU, both businesses want to advance the project's development, finance, building, and sales by entering into a mutually agreeable joint venture shareholders' agreement.
Throughout its prosperous history, the firm has fostered strategic alliances with prominent real estate organizations both locally and internationally. This most recent relationship serves to further bolster Deyaar Al Reem Island Apartments' dedication to growing its market share.
As a result, Deyaar keeps up its strategy of offering cutting-edge projects to satisfy the expectations of its clients, since it is well-known for its dedication to completing projects on schedule.
About Developer:
With its headquarters located in Dubai, Deyaar Development PJSC is a prominent provider of real estate development and services. Having grown at an exponential rate since its founding in 2002, the firm now has a share capital of AED4.38 billion and leads its industry in the area.
Deyaar Al Reem Island is ideally positioned to have a significant impact on how the real estate market in the area develops. The company has solidified its pioneering reputation in the real estate scene of the area with its comprehensive market knowledge, top-notch services, and unparalleled property management assistance for communities across varied portfolios.
As a one-stop shop for real estate solutions, Deyaar combines quality with a mission to design natural living spaces and puts clients at the center of what it does. The provision of complete property development and property management services in the United Arab Emirates is covered under this profile.
For its collection of residential and commercial properties, Deyaar offers facilities management services. The association management team is led by the firm with the primary goal of ensuring the safety of Deyaar's homeowners. Under reference number 15/07 is registered with the Real Estate Regulatory Authority and conforms with all applicable property laws and escrow rules in the United Arab Emirates.
Key Highlights:
- Offers luxury apartments with wonderful views.
- Contemporary amenities and components.
- The Prime location at Al Reem Island in Abu Dhabi.
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