Deyaar Development PJSC — Regulatory Filings 2015

Sep 6, 2015

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Press Release

Deyaar to Open Online Registration for the Recently Launched Afnan District in Midtown Today

Sets New Benchmarks in Affordable Housing Development

Dubai-UAE: 06 September 2015 – Deyaar Development PJSC (Deyaar), a customer-focused, trusted and valued developer with in-depth market intelligence and property management expertise, announced today that the online registration for Afnan district the first phase in Midtown is now open for interested buyers. The property offers studio, 1, 2 and 3 bedroom apartments, and will be showcased at a launch event on the 12th and 13th September at its sales center during which time Deyaar will offer flexible payment plans and prices starting from AED 397,000.

The Afnan District is the first part of the grand 1.2 million sq ft mega Midtown development to come on-stream. Within the Midtown project, Afnan includes seven residential developments ranging from G+6 to G+16 buildings comprising a total of 659 apartment units in varying sizes. Divided into 132 studios, 374 one bedroom apartments, 143 two bedroom apartments, and 10 three bedroom apartments, the size of the units range from 425 to 2,033 square feet and incorporate space optimising designs to augment usable space and reduce wasted area within each unit. The construction of Afnan District is scheduled to begin before the end of the year.

The ‘Midtown’ project is an extremely ambitious design and construction concept. Boasting an almost one km-long green concourse, ‘Midtown by Deyaar’ will consist of 27 buildings that share a one-level podium covering retail, parking, and essential services. Situated in Dubai’s growth corridor with direct access to the Sheikh Mohammed Bin Zayed Road, International Media Production Zone (IMPZ) is close to the Jebel Ali Port and the Al Maktoum International Airport. The urban community living space offers the added value of new infrastructure developments like Dubai Metro connectivity and proximity to the City Centre Me’aisem, a multiutility mall.

From stand S1K10 at Sheikh Saeed Hall 1 at the Dubai International Convention and Exhibition Centre, Deyaar will present in addition to Midtown, its latest projects Montrose and The Atria – at Cityscape Global 2015, which is set to run from 8-10 September..

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Saeed Al Qatami, CEO of Deyaar, said: “We are delighted to return to Cityscape Global and look forward to showcasing our range of prestigious hospitality, residential and commercial developments to prospective investors regionally and internationally. Cityscape Global has established an outstanding reputation as one of the region’s most high-profile real estate exhibitions. Through our active participation this year, we seek to reinforce our leading status as a provider of the highest quality developments and best-in-class services.”

The Montrose development is currently taking shape at Barsha South at the extension of Umm Suqeim, towards Mohammed Bin Zayed Road. Montrose will be located adjacent to the Miracle Garden at a seven-minute drive from the Mall of the Emirates and 15-minute distance from The Dubai Mall.

Deyaar’s third showcase project ‘The Atria’ is a 1.25 million sq feet luxury mixed-use twin tower complex located at the Business Bay district. The development will feature studios, one, two and three-bedroom apartments and three bedroom duplex units across a 30-floor complex. Offering panoramic views of the Burj Khalifa, Business Bay Canal and the Dubai Stables, the hotel apartment tower will include a five-star spa, gym, infinity pool on the 25th floor, as well as fine dining restaurants. The tower is scheduled for handover in the first half of 2017.

The outstanding portfolio of word-class developments offered by Deyaar reflects the growing market for upscale residential and well-appointed serviced apartments in Dubai. Deyaar’s growth strategy reflects Dubai’s ambition to consolidate its position as a leading global metropolis and attract more than 20 million visitors to Expo 2020.

For more information on Deyaar’s property portfolio at Cityscape Global Dubai, contact us at 800-DEYAAR, or email us at CONTACTUS@DEYAAR.AE.

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