Serenia Residences has revealed that it has purchased the most expensive plot of land in a deal that is the largest of its kind for a private investor in Dubai in recent years.
The company explained in a statement that the plot, valued at 508 million dirhams, is located on the crescent of Palm Jumeirah, and will be used to develop a new project on the beachfront, noting that this step comes after the company was able to sell the “Serenia Residences”, the residential project on the crescent of “Palm Jumeirah.” According to the newspaper, “Emirates Today”.
She added that the value of the new project amounts to 2.5 billion dirhams, while its area is approximately 1.2 million square feet, and will be developed by Palma Holding, explaining that the project will be launched during the next year, while the company intends to announce more details at the time. the appropriate.
“Following the success that the company achieved with the launch of Serenia Residences, we are pleased to develop the new plot of land, which is considered the most exclusive of its kind on the beachfront in Dubai,” said Karim Derbas, founder and CEO of Palma.