The UAE-based Palma Development has signed a deal with Khansaheb Civil Engineering as the main contractor for its Serenia Residences project, likely to come up on the Palm Jumeirah’s Crescent in Dubai.
The contract worth Dh.400mn will see Khansaheb deliver the latest offering from Palma Development within 22 months from signing the deal.
Designed by Hazel Wong, the popular architect, Serenia Residences project is exclusively residential and features contemporary architecture and layouts that are unique to Palm Jumeirah.
Spanning an area of 85,000 sq. ft., the development comprises 250 units with apartments ranging from single to four bedroom and penthouse suites.
The CEO and co-founding partner of Palma Holding, Kareem Derbas, said that the prime location of the development and its wealth of high level amenities will make it the most exclusive beachfront residence in the city. Hence, completing such a project in less than two years has been a major requirement of the project tender.
The General Manager of Khansaheb Civil Engineering, Steve Flint, mentioned that the successful track record for timely completion of quality projects has been the main reason for being chosen by Palma for the project.
The Chief Executive of Banian, Hassan Nia expressed confidence that Serenia Residences will be in the market within two years, and will offer the ultimate resort-style beachfront living in one of the most sough-after locations in the city, the Palm Jumeirah.