The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Sunaina Rana / EMIRATES BUSINESS
UAE-based ARTAR Real Estate Development announced that it has achieved a 15% completion rate of Mada Residences. The new upcoming project is situated in Downtown Dubai and this exclusive residential property development is ARTAR’s first project in the UAE.
Sulaiman Abdulrahman Al Rashid, CEO of ARTAR Real Estate Development LLC, said, “We have witnessed an exponential growth, we are ahead of our own sales targets today. This because our buyers are recognising the potential of this area and are confident enough to purchase multiple units with expectations of steady appreciation over the next three to five years.â€
It is expected that the project would be delivered not later than July 2018. The project has witnessed a massive interest of the GCC as well as the international buyers in the property sector. The development has seen strong demand as potential buyers gravitate towards the modern amenities and location offered by Downtown Dubai.
“Since the commencement of construction, the progress of Mada Residences, has been on schedule. We are in the process of pouring the concrete for the first podium floor above ground, with the main core of the tower reaching the 5th floor,†he added.