Deyaar Development PJSC — Regulatory Filings 2024

Nov 27, 2024

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PRESS RELEASE

Deyaar continues its upward trajectory and unveils Park Five, a project valued at AED 1.5 billion

- A community that combines innovations and sustainability in Dubai Production City -

• Strategically located near key urban hubs, green spaces, healthcare facilities, and educational institutions

• Park Five offers competitively priced luxury living with integrated wellness features

• Phase 1 introduces Elm and Ember, featuring world-class amenities and attractive launch prices along with flexible payment plans.

Dubai, UAE – 27 November 2024: Deyaar Development PJSC (“Deyaar”) has announced the launch of Park Five, an innovative luxury residential community in Dubai Production City. Valued at AED 1.5 billion, the new development focuses on wellness-centric living and community engagement, offering residents an urban sanctuary with meticulously planned amenities and competitive pricing.

Saeed Mohammed Al Qatami, CEO at Deyaar Development , said: “Our latest project Park Five is an exciting new addition to Deyaar’s portfolio of community developments and a significant landmark on our ongoing journey of growth and transformation. Park Five has been developed in alignment with Dubai’s vision of creating sustainable and innovative urban spaces that enhance the quality of life for residents. This project reflects our commitment to delivering world-class, sustainable and value-driven developments, responding to the global investor interest in UAE real estate.”

Phase 1 of Park Five will include Elm and Ember towers, featuring a mix of spacious studios, one-, two-, and three-bedroom residences, with 50 / 50 plan.

The development incorporates thoughtfully designed spaces that prioritize holistic well-being. Winding through Park Five lush greenery and vibrant communal spaces are traditional sikkas, or Arabian-style pathways. The sustainability-focused design integrates energy-efficient systems, maximizing natural light, and indoor-outdoor community areas to promote both environmental and personal wellness.

Both Elm and Ember towers feature premium amenities such as yoga lawns, outdoor co-working spaces, fitness centres, infinity-edge pools, and dedicated children’s play areas. Residents can unwind in tranquil settings such as a hammock garden, a rooftop Zen garden, and even a shaded outdoor cinema. Park Five supports active lifestyles with a plethora of facilities including multipurpose sports courts, rooftop sand volleyball courts, resort-style lap pools with lounge areas as well as kids’ pools.

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Park Five’s strategic location in Dubai Production City, gives residents easy access to world-class shopping and dining, lush parks, golf clubs, top-tier schools, and renowned hospitals within minutes. Located near Sheikh Mohammed bin Zayed Road and Al Khail Road, Park Five is just minutes away from City Centre Me'aisem and is in close proximity to key locations, including the Dubai Exhibition Centre, Al Maktoum International Airport, and Expo 2020.

Hamdan Al Kaitoob, Vice President - Property & Community Management at Deyaar Development , said: “In today’s real estate market, wellness is no longer a trend but an essential expectation. Park Five reflects this shift. We have conceptualised a community that leverages architecture and design to prioritise physical and mental well-being. With innovative designs, proximity to green spaces, and quality wellness amenities, Park Five not only enhances the lifestyle of its residents but also sets a new benchmark for wellness-focused living in Dubai, making it accessible to many more people with competitive pricing.”

Park Five offers attractive payment plans to accommodate a wide range of buyers, with Phase 1 scheduled for completion in Summer 2027. With its fusion of luxury, wellness, and sustainability, Park Five is set to redefine urban living in Dubai, offering residents a vibrant, self-sustaining community that meets the growing demand for healthier lifestyles.

-ENDS-

About Deyaar

Deyaar Development PJSC is a leading real-estate developer and real-estate services company, headquartered in Dubai. Since its establishment in 2002, the company has registered exponential growth to become an industry leader in the region, with a share capital of AED4.38 billion.

Deyaar is well-positioned to play a pivotal role in the development of the region's property landscape. The company’s in-depth market intelligence, world-class services, and unrivalled property management support for communities across diverse portfolios have firmly consolidated its pioneering status in the region’s real estate landscape.

Combining excellence with a vision to create natural living environments while placing customers at the core of its strategies, Deyaar serves as a one-stop real estate solutions provider. Under this profile, its scope includes the delivery of end-to-end property development and property management services across the UAE.

Deyaar provides facility management services for its portfolio of commercial and residential units. The company spearheads an association management team to ensure the wellbeing of Deyaar’s homeowners as a key priority. Deyaar complies with the escrow legislation and relevant property laws in the UAE, and it is registered with the Real Estate Regulatory Authority under reference number 15/07.

Media Contact:

Deyaar: Inass Msaidi: inassm@deyaar.ae Gambit Communications: Showkat Rather, Senior Account Manager, Showkat@gambit.ae