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Deyaar sells $136mn of Atria apartments at launch

Dubai firm says all residential units released at the launch were sold

Potential buyers discuss sales at Atria launch
Potential buyers discuss sales at Atria launch


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Deyaar Development on Sunday announced it has sold all the residential units released at a new Dubai development in the Business Bay district.

The developer said it registered  $136mn (AED500mn) in sales for The Atria project within hours of opening at a sales event held at the H Hotel on Sheikh Zayed Road.

The Atria is scheduled for handover by the first quarter of 2017.

Saeed Al Qatami, CEO of Deyaar Development, said: "Today's event validates Deyaar's capability to launch and develop projects that respond to existing market needs and provide exceptional value to customers.

"The unprecedented sell-out also reflects Deyaar's position as a trusted real estate partner delivering customer satisfaction through quality projects.

"The location of The Atria, its features and attributes, our partnership with yoo Studio and the company's unique payment plans are key factors that have contributed to the success we have already garnered for this project."

Unveiled last week, The Atria includes more than 200 apartments, and will boast branded residences delivered by internationally-acclaimed interior designers, yoo Studio.

Located near Citadel Tower and Churchill Residency at Business Bay, the 30-floor development comprises a total of 219 units, including one-bedroom, two-bedroom and three-bedroom apartments, as well as select three-bedroom duplex options.

Spanning over 325,000 ft2 of saleable area, the building also features two luxurious four-bedroom penthouses.
A central atrium will house retail outlets and fine dining concepts while other features will include separate swimming pools for adults and children, a miniature golf park, health club, basketball and squash courts, and multi-utility playing areas.

Last month, Deyaar reported a surge in its 2013 profit, as it benefited from completion of stalled projects and the handover of homes to customers.

Deyaar, one of the companies worst hit by Dubai's real estate market collapse of 2008-2010, made a net profit of $42.1mn (AED154.5mn) last year compared with $10.5mn (AED38.6mn) in 2012.

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Construction Week Middle East 11th Jan 2020
Jan 16, 2020