Dubai – Mubasher: Deyaar Development has launched Park Five, an advanced residential community in Dubai Production City, at a value of AED 1.50 billion, according to a press release.
The new scheme focuses on wellness-centric living and community engagement, offering residents an urban sanctuary with meticulously planned amenities and competitive pricing.
Saeed Mohammed Al Qatami, CEO at Deyaar, said: “Park Five has been developed in alignment with Dubai’s vision of creating sustainable and innovative urban spaces that enhance the quality of life for residents.”
“This project reflects our commitment to delivering world-class, sustainable and value-driven developments, responding to the global investor interest in UAE real estate,” Al Qatami mentioned.
Phase 1 of Park Five will include Elm and Ember towers, featuring a mix of spacious studios, one-, two-, and three-bedroom residences, with a 50/50 plan. It is scheduled for completion in Summer 2027.
During the first nine months (9M) of 2024, Deyaar recorded an annual leap of 47% in net profit to AED 348.80 million, compared to AED 237.50 million.
