Palma appoints Khansaheb for Serenia Residences
Contractor Khansaheb will undertake construction of the exclusive residential-only development, Serenia Residences, on Palm Jumeirah Crescent
UAE developer Palma Development has appointed Khansaheb as the main contractor for its Serenia Residences, the residential-only community on Palm Jumeirah’s Crescent.
With a value of $108.8m (AED400m), the contract will see Khansaheb deliver the latest offering from Palma Development, a subsidiary of Palma Holding – within 22 months from signing.
“We are delighted to announce Khansaheb as the contractor for Serenia Residences, a premium community development that features residential apartments and penthouses close to the water’s edge. Serenia Residences’ prime location and its wealth of high level amenities will see it as the most exclusive beachfront residence in the city, so completing such a project in less than two years was a significant requirement of the project tender,” said Kareem Derbas, CEO and Co-Founding Partner, Palma Holding.
In appointing Khansaheb, Palma Development went through an extensive tendering process that saw several potential contractors’ proposals evaluated.
Prime consideration was given to submissions that proved delivery of quality developments within a demanding timeframe. Khansaheb was awarded the contract following their demonstration of an impressive portfolio of projects that met strict timelines whilst staying within quoted budgets.
“We are excited to be partnering with Palma Development in the construction of Serenia Residences. As to be expected with a developer with such a renowned name in Dubai’s real estate landscape, the procurement process was stringent and exhaustive. Ultimately, we believe that we were selected by Palma due to our track record in the successful completion of many such prestigious and high quality projects on time and on budget,” said Steve Flint, Group General Manager, Khansaheb Civil Engineering
Designed by famous architect Hazel Wong, the Serenia Residences project is a 78,967 sqm development comprising 250 units, with apartments ranging from one to four-bedrooms and penthouse suites.