Deyaar forays into DuBiotech with three-tower project

Deyaar Development on Sunday announced the launch of Montrose, a project comprising three towers (hotel apartment and two residential towers) in Tecom’s DuBiotech Life Sciences Cluster.

Deyaar’s latest development addresses the growing demand for residential and well-appointed serviced apartments in Dubai. The company’s strategy to foray into the sector is particularly relevant given Dubai’s projection of attracting more than 20 million visitors during Expo 2020.

Each of the towers comprises three basement levels and 19 stories. The two residential towers will house 68 one-bedroom, 68 two-bedroom, five three-bedroom and two four-bedroom apartments. The hotel apartment tower has been designed to feature 88 studios, as well as 68 one-bedroom and 24 two-bedroom units. The project is named after the captivating flower ‘Mountain Rose’, the company said in a statement.

Saeed Al Qatami, CEO, Deyaar, said: “Montrose is a strategic project for Deyaar and offers an inspired blend of harmonious style and comfortable living. This project will help Deyaar meet the growing demand for exclusive, gated community projects in Dubai. The location for the urban upscale community has been deliberately chosen to appeal to our potential investors and buyers. We are confident the new project will set another benchmark of excellence for Deyaar and reiterate its continued industry leadership.”

Al Qatami added: “Deyaar is offering flexible payment plans with a minimal down payment as low as five per cent. Our aim is to offer a wider target audience with the possibility of realising their dreams of owning a property in Dubai that is affordable.”

Residential units will go on sale on September 6 at Deyaar’s sales and service centre in the Burlington Tower, Business Bay.

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