SAUDI-BASED DEVELOPER ARTAR AIMING TO HELP CHANGE FACE OF DUBAI RESIDENTIAL REAL ESTATE
Company says its first UAE venture shows why liveability is key for investors and end users, not just a property industry buzzword
Dubai, UAE, 24 July 2016: One of Saudi Arabia’s most prominent real estate development companies believes its first venture in the UAE can help mould the changing face of Dubai residential property over the next few years.
Riyadh-based ARTAR Real Estate Development says a big focus on genuine liveability and a payment plan requiring only a 30% investment prior to completion has given its Mada Residences project in Downtown Dubai major appeal for today’s demanding investors and end users.
An artist’s impression of Mada Residents in Downtown Dubai - liveability and a payment plan requiring only a 30% investment prior to completion has given it major appeal for investors and end users.
The company believes the Dubai property market needs a shake-up to make sure that homes meet the needs of buyers whose expectations have been heightened by a changing economic climate.
“Real estate has to adapt to keep up with the changing demands of investors and end users,” said ARTAR’s Chief Executive, Sulaiman Abdulrahman Al Rashid.
Sulaiman Abdulrahman Al Rashid, Chief Executive of ARTAR Real Estate Development.
“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.
Added Al Rashid: “More and more developers in this market realise that has to change so that most of the cost of a home is paid out after completion. Our payment plan is designed specifically to help investors and end users with their cash flow, and to build more confidence and trust in us as a developer that is dedicated to delivering quality homes on time.”
“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.”
Progressive developers agree that liveable homes should generally be open-plan and designed to maximise space, are easy to move around in, easy to use and allow people of all ages and abilities to live in, or visit, comfortably.
ARTAR has designed Mada Residences around these principles. Located just a minute’s walk from Dubai Mall, it offers 193 larger than average 1, 2, 3 and 4 bedroom luxury apartments.
They include 80 unique 2 bedroom apartments with maid’s rooms, a feature which has contributed to 70% of all units already being sold. ARTAR is guaranteeing early deliver of all units in Q2 2018.
“We believe we’ve got the right formula, and sales to date supports that view,” said Al Rashid. “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.”
Visitors to the ARTAR exhibition stand at Cityscape Global in Dubai in September will be able to check out the Mada Residences designs by taking a virtual reality tour of apartments. ARTAR is the real estate development arm of Abdul Rahman Saad Al-Rashid & Sons, a group with over 50 years of regional experience in delivering high end projects on schedule.
About ARTAR Real Estate Development
A prominent name in the Kingdom of Saudi Arabia, ARTAR is the real estate development arm of Abdul Rahman Saad Al-Rashid & Sons Co. A group with over 50 years of regional construction excellence, they are classified as an 'A' Class contactor by the Contractor's Classification Agency.
ARTAR Real Estate Development is committed to providing exceptional quality and workmanship focused on well-crafted liveability.
About Mada Residences
Taking the concept of Liveability to actual living breathing spaces, Mada Residences are a selection of 1, 2, 3 and 4-Bedroom apartments located in Downtown Dubai.
Each apartment has been crafted with family-centric liveability for those who love their spacious spaces. With floor to ceiling glass, balconies in every apartment and well thought-out amenities designed in a way that elevates the usability of space and achieves enduring value.
The intelligent use of space becomes evident from the moment you enter the reception, all the way to the apartments, where every bedroom comes with an en suite bathroom. Spacious walk-in closets and balconies are core features and benefits resulting from adhering to the concept of Liveability. Mada Residences bring individuals and families the finest that comfort has to offer.