Artar guarantees Q2 2018 delivery for Mada units
Saudi Arabia’s Artar Real Estate Development has guaranteed that all 193 units at its Mada Residences project in Downtown Dubai will be delivered in Q2 2018
Saudi Arabia’s Artar Real Estate Development has guaranteed that all 193 units at its Mada Residences project in Downtown Dubai will be delivered by the end of Q2 2018.
This delivery pledge, and a flexible payment plan for investors and end users, represent the firm’s commitment to “delivering quality homes on time,” according to Artar.
Dubai’s property market needs a “shake-up” to ensure that homes meet the needs of modern buyers, according to Sulaiman Abdulrahman Al Rashid, Artar’s chief executive.
“Real estate has to adapt to keep up with the changing demands of investors and end users,” Al Rashid explained. “They’ve become far more astute in the challenging economic times that we face now, compared with the boom era of a few years ago.
“They have the right to ask why they should effectively pay for homes to be built, which is what has been happening with so many payment plans,” he added.
Artar’s payment plan for Mada Residences requires a 30% investment prior to completion, and has been designed to help investors and end users with cash flow, according to Al Rashid.
“At the same time, developers must work to ensure that liveability becomes more than just a real estate buzzword, and that the homes they’re building are genuinely designed to give people a better level of space and comfort,” he continued.
Al Mada Residences, which is located in the vicinity of Dubai Mall, will feature 193 one- to four-bedroom apartments.
According to a press release issued by the project’s developer: “Artar is guaranteeing early [delivery] of all units in Q2 2018.”
The project’s piling and foundation works were conducted by Delta. Construction & Reconstruction Engineering Company (CRC) is the development’s main contractor.
Al Rashid concluded: “We believe we’ve got the right formula, and sales to date support that view. We think more developers will follow this trend in the market, just as they do in other parts of the world where the concept of liveability is a top priority because it has a major influence on where people decide to live.”