Palma Holding launches Olivara Residences & Park in Dubai Studio City
Developer has already handed over five million sqft of property in Dubai including Silverene Towers and Serenia Residences
Developer Palma Holding has launched Olivara Residences & Park, which is billed as the first integrated community in Dubai Studio City. Phase One of the project is open for viewings and ready to welcome tenants, while Phase Two is expected to be ready by the summer of 2020.
Once fully complete, the $100m residential community will feature four low-rise buildings, a clubhouse and a large park.
According to a statement, the project’s 250 units will be split between studio, one-, and two-bedroom apartments. The park will occupy 100,000sqft and will feature play areas, a gymnasium, walking lanes, and access to Palma community bicycles.
“Following our successful beachfront projects, Olivara Residences represents our first urban community. We saw a gap in the market for contemporary and trendy residences that cater to the young, working population who are looking for quality, urban living, with great facilities and competitive leasing options. The project combines functional spaces with distinct finishes and details, combined with outstanding amenities, fitness facilities, and excellent leasing rates. Our aim is to consistently transform what it means to live and connect with the community,” said Palma founder and CEO Kareem Derbas.
The developer says the project was designed with the well-being and discerning lifestyles of young families and individuals in mind. The project is said to be Palma Holding’s third collaboration with Hazel Wong, the architect behind Emirates Towers, Silverene Towers and Serenia Residences.
