Ellington Properties signs agreement with entrepreneur Abdul Razeq Abdul Ahad to develop residential project
Project will be developed in Dubai Hills Estate, with design and master planning set to commence shortly
Ellington Properties, the Dubai-based boutique developer, has signed an agreement with entrepreneur Abdul Razeq Abdul Ahad, through Deja Vu Real Estate, a leading real estate brokerage, to develop a new residential project in Dubai Hills Estate.
Valued at $92.5mn, the project will feature 1, 2, and 3-bedroom apartments in a central location within the established Dubai Hills Estate neighbourhood. The design and master planning for the new residential project will commence shortly, a statement added.
A veteran entrepreneur with business interests in diverse sectors globally, Abdul Razeq Abdul Ahad, President & CEO, Asem Holdings LTD, said: “This is my second agreement with Ellington Properties to develop residential projects in Dubai following the recommendation of Deja Vu Real Estate. The decision was taken after careful market study of the location and inspired by the superior build quality the firm delivers across all its projects. Dubai’s property sector is one of the most robust globally and there is significant potential for growth, especially in areas such as Dubai Hills Estate with high rental yields and return on investment.”
Dubai Hills Estate is now a thriving neighbourhood that can be easily accessed from all major highways such as Sheikh Zayed Road, Al Khail Road, and Mohammed bin Zayed Road. The 2,700-acre development features an 18-hole championship golf course at the heart of the community, along with over 1.45 million square metres of parks and open spaces, 54 kilometre of bicycle trails.
Other attractions include a central Park, and the upcoming Dubai Hills Mall.
Nitin Bhatnagar, Co-Founder of Ellington Properties added: “Leading investors and property management and advisory firms such as Deja Vu Real Estate realise the value we bring to the industry through our projects. We are committed to creating vibrant communities that promote the wellness of our residents and bring long-term value to their property investments.
“Dubai Hills Estate has an inspiring location with large green parks, play areas, a new mall, and close proximity to world-class educational institutions and hospitals. Through our strategic partnership with Abdul Razeq Abdul Ahad, we aim to create another stand-out residential project that will appeal to discerning investors.”
Ellington Properties has a varied portfolio of projects including Belgravia and Belgravia II, Belgravia Square, Belgravia Heights I, Eaton Place, and Somerset Mews, all located in JVC; DT1 in Downtown Dubai as well as Wilton Terraces I and II, Wilton Park Residences.
Deja Vu Real Estate offers comprehensive and professional property services to corporations, investors, and individuals across the globe. It is affiliated with some of the largest real estate entities in Dubai and abroad.
