PALMA TO LAUNCH $1BN DUBAI REAL ES­TATE PROJECTS

Ekaruna - - News Round Up -

UAE-based Palma Hold­ing, a devel­oper of lux­ury residential and mixed-use com­plexes is set to launch two new real es­tate projects worth $1.07 bil­lion in Dubai next year, the com­pany an­nounced in a state­ment. The first pro­ject is a lux­ury beach­front residential pro­ject on The Palm Jumeirah, while the sec­ond is a lux­ury residential pro­ject in “one of Dubai’s pre­mium lo­ca­tions,” the com­pany said. Work on the first pro­ject, which in­cludes apart­ments and lux­ury pent­houses will start in early 2015, while the sec­ond pro­ject will take off by the end of the year. Ka­reem Der­bas, CEO and co-found­ing part­ner at Palma Hold­ing, said in a state­ment that Palma’s strat­egy is to build on the ex­ist­ing con­fi­dence in the Emi­rate’s real es­tate sec­tor which is show­ing sus­tain­able sta­bil­ity and growth. “We feel that it is the right time to in­tro­duce these two sig­na­ture projects for our in­vestors’ prof­itable in­vest­ment,” he said.

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