Sales open for Deyaar's Dh450 million Oakwood

Deyaar Development yesterday opened sales for Oakwood Residency, a Dh450 million residential tower at the International Media Production Zone (IMPZ).

The 18-storey building is scheduled for delivery in the second quarter of 2010, with construction already under way, the firm said.

Deyaar, which owns a number of plots in IMPZ, is one of the largest developers in this 43-million square foot mixed-use community, which is situated close to major Dubai landmarks, including Dubai Internet City, Dubai Media City, Knowledge Village, Mall of the Emirates and the upcoming Al Maktoum International Airport in Jebel Ali.

"I am delighted to announce the launch of this exciting new development in the heart of New Dubai," said Saeed Al Qatami, Deyaar's managing director for UAE Business.

"Oakwood Residency is another landmark project for this fast-growing company, which continues to demonstrate its commitment to customer service, timely delivery and product excellence. For both homeowners and investors, Oakwood represents a unique opportunity to participate in the emirate's high-growth real estate sector."

Oakwood Residency offers 344 one- and two-bedroom apartments. The tower will feature a gymnasium, separate sauna and steam rooms for men and women, a rooftop swimming pool, ample parking space and 24-hour security, Deyaar said.

Buyers can avail up to 90 per cent financing from home finance providers, including Abu Dhabi Commercial Bank, Amlak and Dubai Islamic Bank.

Deyaar's projects span several locations in Dubai, including Jumeirah Lake Towers, Dubai Marina and Downtown Jebel Ali.