Turkish Ascioglu, Deyaar sign Midtown tower deal
Dania District is the second phase to be constructed of the 11ha mega Midtown development
Dubai-based developer Deyaar Development announced details of a strategic partnership with Turkish real estate company, Aşçıoğlu, for its Midtown project.
Aşçıoğlu will introduce a tower in the Dania District of Midtown to Turkish investors keen to invest in the thriving UAE property market.
Dania District is the second phase to be constructed of the 11ha mega Midtown development.
Comprising a built-up area exceeding 46ha, Midtown is located in Dubai Production City, close to the Jebel Ali port, Expo 2020, and Al Maktoum International Airport.
The co-branded property, will be the first time Aşçıoğlu’s property brand Selenium, has branched overseas, a testament to Dubai’s continuing success in attracting overseas property investment.
The tower in Dania District will be customised to the needs and tastes of Turkish customers with high quality architecture and living environment.
Commenting on the announcement, Saeed Al-Qatami, Deyaar CEO, said: “Our properties offer a superior living environment, optimal value and solid return on investment, and this is generating strong demand from overseas.
"We are confident that Midtown, which delivers ultimate levels of comfort and convenience in an urban community living space, will appeal to Turkish investors.”
He added: “With nearly half a century of experience in real estate development, Aşçıoğlu was a natural choice of partner for Deyaar. Their commitment to customer service is aligned to our own high standards, so we can be sure our customers in Turkey will receive a high quality end-to-end experience.”
Yasser Aşçıoğlu, chairman of Aşçıoğlu Group said: "We set out with the objective of making “Selenium” a world brand. After Istanbul, we chose Dubai, one of the world’s visionary entrepreneurial capitals."