Dubai: Private Developer Amwaj Development Launches Inaugural Project
Date
4/24/2024 2:57:07 PM
(MENAFN- Khaleej Times) Private developer Amwaj Development has entered the Dubai Real estate market with the launch of its first project to cash in on the rising demand for the property market.
The Starlight Park is a four-building freehold community in Meydan, offering 172 apartments including 1, 2 and 3-bedroom units.
The completion date for Starlight Park is set for the second quarter of 2026.
The developer plans to launch a few more developments which will see over 1.5 million square feet this year.
“Dubai's real estate market has been growing rapidly over the last 3 years and we felt it is time for us to establish a strong base in this market which is expected to continue its growth trajectory for many years to come. Starlight Park is the first of several new projects that we plan to develop with our existing land bank and through the acquisition of new plots in Dubai's most popular areas,” said Murad Saleh, CEO of Amwaj Development.
According to preliminary numbers released by Cavendish Maxwell's Property Monitor, Dubai on average sees the launch of a new property project after every 18 hours. In March 2024, close to 30 projects with 10,000 units were launched by local and foreign developers.
“Starlight Park is the first real estate project in the UAE and is the culmination of more than 11 years of development expertise in Europe and the Middle East. Our design approach for this community was to create affordable, large liveable spaces with high-quality finishes and materials that deliver a level of comfort and style reserved for high-priced premium apartments,” said Emad Saleh, founder and chairman of Amwaj Development.
All apartments have dedicated parking spots, a common outdoor garden oasis, a rooftop pool, a fitness studio, a rooftop cinema, indoor/outdoor kids play areas, yoga and boxing studios, paddle tennis, EV charging stations and a resident's lounge.
"Dubai is not just a city, it's a beacon of stability and growth in the global economy. The city has become a safe haven for investors from all around the world looking for secure and dependable investments,” said Hassan Hijazi, group CFO of Amwaj Development.
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