UAE-based Palma Holding, a specialist in luxury residential and mixed-use complexes, has announced the launch of its new Dh365-million ($100 million) Olivara Residences & Park, the first integrated community in Dubai Studio City. 

 

A vibrant residential community made up of four low-rise buildings, Olivara Residences & Park boasts 250 units comprising studio, one-, and two-bedroom apartments in addition to a clubhouse and a massive park. 

 

The project was designed with the well-being and discerning lifestyles of young families and individuals in mind, offering 100,000 sq ft of a lush green park, play areas, a state-of-the-art gymnasium, walking lanes, and access to Palma community bicycles, said the statement from Palma Holding.

 

The clubhouse will be home to Innerfight, a leading performance & fitness club, led by The Marathon Man, otherwise known as Marcus Smith.  A yoga studio and paleo café will also be part of the club, making it a truly elevated urban community, it stated.

 

According to Palma Holding, this new project marks its third collaboration with Hazel Wong, the architect behind premium projects such as Emirates Towers, Silverene Towers and Serenia Residences. 

 

Leasing for the ready-to-move-in project has commenced offering residents a contemporary and distinct lifestyle.

 

On the new project, Palma Founder and CEO Kareem Derbas said: "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," stated Derbas.

 

Interior spaces at the project’s units were thoughtfully designed with large glass windows that allow abundant sunlight and extend park views into the living spacem, he noted. 

 

Each home also features a fully fitted Italian kitchen equipped with stainless steel appliances. Additionally, Olivara provides generous parking spaces for both residents and visitors, he added.

 

Since its inception, Palma Holding said it has completed over 5 million sq ft of premium properties in Dubai, valued at over Dh6 billion, with standout developments in the market, such as, among others, Silverene Towers and Serenia Residences, its flagship project and the only exclusively residential community on The Palm Jumeirah’s Crescent. 

 

According to Derbas, Phase 1 of Olivara Residences is ready for move-in and open for viewings, with a number of unit types available for showcase. The second phase of the project is under construction and will be ready by summer 2020, he added.-TradeArabia News Service