Latest news with #OmarDerbas
Zawya
10-04-2025
- Business
- Zawya
Dubai's off-plan market remains highly promising
The outlook for the UAE's real estate sector, especially Dubai's off-plan market, remains highly promising, Omar Derbas, Executive Director, Development and Engineering at Palma Development, told Zawya Projects. The sustained demand for luxury waterfront properties, combined with limited supply in prime locations such as Palm Jumeirah, continues to drive capital appreciation, he said. 'In Serenia Living, we have already witnessed a significant increase in value since launch, with some units appreciating by over 50 percent, which indicates investor confidence and market momentum,' Derbas said. Off-plan properties have been a significant contributor to Dubai real estate sector's growth with 24,920 transactions in the first quarter of 2025, up from 20,006 during the same period last year, an analysis by Springfield Properties stated. In 2025, Palma Development expects the off-plan segment to remain strong, supported by ongoing population growth, residency incentives, and increasing international investment. Dubai's position as a global hub for luxury living ensures that premium developments offering architectural distinction and lifestyle value will remain highly attractive to end-users and investors alike, Derbas said. When asked about expansion beyond Dubai, he said that Dubai remains the cornerstone of the company's development strategy, given its global appeal and strong regulatory framework. While the immediate focus remains on the timely completion of Serenia Living, the developer has launched the AED 5 billion Serenia District, a residential development in Dubai's Jumeirah Islands. The first phase of Serenia District includes West Residence, a 46-storey tower comprising 419 units. The tower reflects a Japanese Ireko-inspired design by Nikken Sekkei. 'Additional project details and phases will be announced in due course as we continue to expand our development pipeline for 2025 and beyond,' Derbas stated. As with many large-scale developments globally, Palma Development also experienced fluctuations in commodity prices, particularly since 2024 and ongoing in 2025, since inflationary pressures are affecting the cost of materials such as aluminium, steel, concrete, and imported finishes. However, the developer claimed its procurement strategy has been to plan ahead and secure pricing through long-term agreements wherever possible. 'While there has been some upward pressure on costs, it has been well managed within our overall budget parameters. Cost increases have not impacted our commitment to excellence,' Derbas said. (Reporting by P Deol; Editing by Anoop Menon) (
Arabian Business
31-03-2025
- Business
- Arabian Business
Dubai real estate: Palma Development's Serenia Living on Palm Jumeirah reaches 70% completion
Dubai-based developer Palma Development has announced that construction on its AED3 billion Serenia Living project on Palm Jumeirah has reached 70 per cent completion. The beachfront development, located on the crescent of the island, is scheduled for completion by the end of 2025. Serenia Living on Palm Jumeirah Serenia Living comprises 226 residences, including two-, three-, and four-bedroom apartments, full-floor and half-floor penthouses, and a Sky Mansion. The project also features amenities such as a large residential swimming pool, a gym with a dedicated personal training area, multiple indoor and outdoor children's play areas, and direct beach access. 'Serenia Living is progressing smoothly and remains on track for the expected completion by the end of 2025, while maintaining the exceptional quality that defines all our projects. As we move into the final phase of construction anticipation continues to build among our discerning clientele, who will soon experience a new standard of upscale beachfront living,' Omar Derbas, Executive Director, Development and Engineering at Palma Development said. Palma Development stated that the project aims to set a new standard for beachfront residences in Dubai.
ME Construction
18-03-2025
- Business
- ME Construction
70% construction completion achieved on Serenia Living says Palma Development
Construction 70% construction completion achieved on Serenia Living says Palma Development By The project features 226 exclusive residences including two-, three-, and four-bedroom apartments, full-floor and half-floor penthouses, and a sky mansion Developer Palma Development has said that its Serenia Living project has reached 70% completion and is expected to be compete by the end of 2025. The ultra-premium beachfront development is being built on the crescent of the Palm Jumeirah at a cost of US $817mn. The major milestone is said to exemplify the substantial progress toward delivering one of Dubai's most coveted projects, further reinforcing Palma's dedication to timely project delivery, said a statement from the company. 'Serenia Living is progressing smoothly and remains on track for the expected completion by the end of 2025, while maintaining the exceptional quality that defines all our projects. As we move into the final phase of construction anticipation continues to build among our discerning clientele, who will soon experience a new standard of upscale beachfront living,' said Omar Derbas, Executive Director, Development and Engineering at Palma Development. The project features 226 exclusive residences, including two-, three-, and four-bedroom apartments, full-floor and half-floor penthouses, and one of Dubai's most exclusive Sky Mansions, according to the developer. The project's high-end amenities include one of the largest residential swimming pools in the city, a state-of-the-art gym with a dedicated personal training area, multiple indoor and outdoor children's play areas, and direct beach access. With its ultra-prime location, best-in-class amenities, and unwavering focus on delivering bespoke residential experiences, the project is set to become a landmark of opulence on Palm Jumeirah, it added. As construction continues at a steady pace, Palma Development looks forward to achieving further milestones, bringing Serenia Living closer to completion and setting a new standard for ultra-premium beachfront residences in Dubai.
Mid East Info
17-03-2025
- Business
- Mid East Info
PALMA DEVELOPMENT ANNOUNCES 70% CONSTRUCTION PROGRESS AT SERENIA LIVING
The project is on track for completion by the end of 2025 Dubai, United Arab Emirates– Palma Development, one of the most prestigious developers in the UAE real estate industry, has announced that Serenia Living, its AED 3 billion ultra-premium beachfront development on the crescent of Palm Jumeirah, has reached 70% completion. This milestone exemplifies substantial progress toward delivering one of Dubai's most coveted projects, further reinforcing Palma's dedication to timely project delivery. Serenia Living, a uniquely designed development featuring 226 exclusive residences, including two-, three-, and four-bedroom apartments, full-floor and half-floor penthouses, and one of Dubai's most exclusive Sky Mansions. The project's high-end amenities include one of the largest residential swimming pools in the city, a state-of-the-art gym with a dedicated personal training area, multiple indoor and outdoor children's play areas, and direct beach access. In his comments on the construction milestone, Omar Derbas, Executive Director, Development and Engineering at Palma Development, said: 'Serenia Living is progressing smoothly and remains on track for the expected completion by the end of 2025, while maintaining the exceptional quality that defines all our projects. As we move into the final phase of construction anticipation continues to build among our discerning clientele, who will soon experience a new standard of upscale beachfront living.' With its ultra-prime location, best-in-class amenities, and unwavering focus on delivering bespoke residential experiences, the project is set to become a landmark of opulence on Palm Jumeirah. As construction continues at a steady pace, Palma Development looks forward to achieving further milestones, bringing Serenia Living closer to completion and setting a new standard for ultra-premium beachfront residences in Dubai.
Trade Arabia
17-03-2025
- Business
- Trade Arabia
Palma's 226-unit beachfront project set for 2025 completion
Palma Development, a major property developer in the UAE, has announced that steady progress is being made on its AED3 billion ($816 million) ultra-premium beachfront development - Serenia Living - located on the crescent of the Palm Jumeirah, with the project already 70% completed. This milestone exemplifies substantial progress toward delivering one of Dubai's most coveted pro-jects, further reinforcing Palma's dedication to timely project delivery, said the Emirati developer. A uniquely designed development - Serenia Living features 226 exclusive residences with a mix of two-, three- and four-bedroom apartments, full-floor and half-floor penthouses, and one of Dubai's most exclusive Sky Mansions. The project's high-end amenities include one of the largest residential swim-ming pools in the city, a gym with a dedicated personal training area, multiple indoor and outdoor children's play areas, and direct beach access, stated the developer. Giving a project update, Omar Derbas, Executive Director, Development and Engineering at Palma Development, said: "Serenia Living is progressing smoothly and remains on track for the expected completion by the end of 2025, while maintaining the exceptional quality that defines all our projects." "As we move into the final phase of construction anticipation continues to build among our discerning clientele, who will soon experience a new standard of upscale beachfront living," noted Derbas. With its ultra-prime location, best-in-class amenities, and unwavering focus on delivering bespoke residential experiences, the project is set to become a landmark of opulence on Palm Jumeirah.
