Deyaar’s Midtown Development Wins Award

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Muhanad Ajinah, Sr. Design Manager for P&E at Deyaar, receives the award from HE Sultan Butti Bin Mejren, Director General of DLD

Dubai, UAE: Deyaar Development PJSC (“Deyaar”), one of Dubai’s leading property developers and real estate service providers, won the prestigious Best Real Estate Project – Affordable Housing Award for Midtown at the Gulf Real Estate Awards 2018.

Midtown is a contemporary 1.2-million-square-foot mixed used development with a built-up area of more than 5.7 million square feet in Dubai Production City, close to the Al Maktoum International Airport. The masterplan is developed on an urban village concept, served by a massive central garden on the podium level and a public retail and restaurants space at the ground level, anchored by hospitality developments. The conveniently located development is in close proximity to Dubai metro stations, schools, and shopping centres, as well as Mohammed Bin Zayed Road.

Speaking on the company’s win, Saeed Al Qatami, Deyaar CEO, said: “This award is a source of pride for the Deyaar family. Winning the Best Real Estate Project – Affordable Housing Award is testament to the innovation, dedication and teamwork of all our colleagues and Deyaar’s commitment to delivering the highest standards for our customers and shareholders. We will continue to enhance our offering, and contribute to the UAE’s ambition for a strong economy and a cohesive society.”

Deyaar offers flexible payment plans across all the three phases including the first instalment, construction payments, and post-delivery payments to encourage investment in the growing real estate sector in Dubai. Midtown caters to the affordable housing market segment with more than 63 per cent of units available for less than AED 750,000.

Deyaar unveiled the first phase of Midtown, the Afnan District, in 2015, and the second phase, the Dania District, in 2016. The Afnan District features seven residential developments, comprising 659 apartment units, and the Dania District features six residential buildings, comprising 579 apartments. With over 90 per cent of the units sold, Deyaar is preparing to launch the third district later this year.

About Deyaar:

Deyaar Development PJSC is a leading real-estate developer and real-estate services company, headquartered in Dubai. Since its establishment in 2002, the company has registered exponential growth to become an industry leader in the region, with a share capital of AED5.78 billion. Deyaar is well-positioned to play a pivotal role in the development of the region’s property landscape. The company’s in-depth market intelligence, world-class services and unrivalled property management support for communities across diverse portfolios have firmly consolidated its pioneering status in the region’s real estate landscape. Combining excellence with a vision to create natural living environments while placing customers at the core of its strategies, Deyaar serves as a one-stop real estate solutions provider. Under this profile, its scope includes the delivery of end-to-end property development and property management services across the UAE. Deyaar provides facility management services for its portfolio of commercial and residential units. The company spearheads an association management team to ensure the wellbeing of Deyaar’s homeowners as a key priority. Deyaar complies with the escrow legislation and relevant property laws in the UAE, and it is registered with the Real Estate Regulatory Authority under reference number 15/07.