With the launch of Regalia, Deyaar Development (Deyaar), one of the leading property developers and real estate service providers in Dubai, ventured into a luxury skyscraper in Business Bay for AED 1 billion.
The new construction is an embodiment of luxurious urban living with distinct features and best-in-class amenities. It is the company’s tallest structure. The residential building comprises 70-stories featuring over 900 premium apartments that come with 172 studios, more than 550 one-bedroom apartments, over 100 two-bedroom flats, and nearly 41 three-bedroom flats, in addition to duplexes and penthouses with scenic views of the city.
The construction industry was valued at USD 466.9 million in 2020 and is expected to be nearly USD 2312.8 million by 2026. It accounts for a CAGR of 33.87% from 2021 to 2026. Today the world is adopting artificial intelligence in all fields. This opulent plot includes smart home technologies, like Smartphone-compatible controls. Among its many features, there is a 70 meters wide outdoor infinity pool, Jacuzzi, daycare center, and a retail store. For fitness enthusiasts, there are amenities like a gym and a yoga pavilion. And the leisure and recreational facilities include an open-air cinema, a massive lawn, and a lush garden, to name a few.
The stunning apartment takes the flourishing market to the next level as the buyers return. The starting cost of the flats is AED 627,000, with a 7-year payment plan. The launch offer of 3 years association fee waiver, initial upfront payment of just 10%, and full DLD waiver will attract the buyers even more.
As the real estate market returns to normalcy post the pandemic, the investments in the sector reached billion ($9.8 billion) until May 2021, which is a staggering increase of 44 percent compared to the same period last year.
Due to the pandemic, wealthy individuals have fled to the technologically advanced and prosperous nation, contributing to a rise in demand in the real estate market. Because of the fluctuation in vaccine roll-out around the world, as well as the extension of restrictions, foreign buyers are flocking to Dubai’s high-end property market to avoid widespread infection.
The luxury property sales soared as the prices in megacities increased to nearly 40 percent.
During the Ramadan festival, the property transactions across Dubai totaled 4, 804 reaching deals worth AED10 billion ($2.27 billion), marking a record high in the last six years.
Saeed Al Qatami, CEO of Deyaar Development said, “Residents and investors can expect feature sleek and expressive architecture, elegant interiors, smart city technologies and seamless connectivity to major thoroughfares such as Al Khalil Road and Sheikh Zayed Road. As always, we affirm our commitment to delivering projects on time and look forward to commencing construction of Regalia in August 2021.”
