On Wednesday, Deyaar Development unveiled Park Five, a luxurious residential community situated in Dubai Production City. This launch comes amid a backdrop of robust growth in Dubai's real estate sector, which has seen over 163,000 transactions worth more than Dh544 billion in the first nine months of 2024.

Saeed Mohammed Al Qatami, CEO of Deyaar Development, expressed optimism about the market's future, stating, "Looking ahead to the new year, I am confident that the market will continue to flourish. We anticipate further developments, particularly in suburban areas of Dubai, as demand diversifies and expands."

Park Five, valued at Dh1.5 billion, is set to be completed in multiple phases and emphasizes wellness-centric living and community engagement. Phase 1 introduces two buildings, Elm and Ember, offering smart home residences tailored for contemporary lifestyles. These buildings feature a mix of spacious studios, one-, two-, and three-bedroom units, with an attractive 50/50 payment plan.

Strategically located in Dubai Production City, Park Five provides residents with easy access to world-class amenities, including shopping, dining, parks, golf clubs, schools, and hospitals. Its proximity to key roads and landmarks such as Sheikh Mohammed bin Zayed Road, Al Khail Road, City Centre Me’aisem, Dubai Exhibition Centre, Al Maktoum International Airport, and Expo 2020 further enhances its appeal.

Since its IPO in 2007, Deyaar has diversified into various business units, including property development, management, hospitality, and facility management. Al Qatami highlighted the company's progress with projects like Midtown, Mar Casa, Regalia, Tria, Millennium Talia Residences, ELEVE, and Rivage.

Al Qatami also noted significant growth potential in areas such as Dubai South, Nad Al Sheba, Jabel Ali, Mohammed Bin Rashid City, and Dubai Land. He added, "Business Bay will continue to mature, and areas like Dubai Silicon Oasis and its neighboring communities along the Dubai-Al Ain Road are expected to see continued expansion."

Deyaar's robust land bank and project portfolio position it well against rising land prices. Al Qatami emphasized, "Our focus is on maximizing the potential of our current assets and delivering value. Any expansion of our land bank will be strategic, aligning with our future goals."

As Dubai's real estate market evolves, Al Qatami anticipates both opportunities and challenges. "It will be intriguing to observe how demand shifts and how new developers ensure their projects meet customer expectations," he concluded.

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