Ellington Properties, a leading design-led boutique developer in Dubai, has signed an agreement with entrepreneur Abdul Razeq Abdul Ahad, through Deja Vu Real Estate, one of the leading real estate brokerages, to develop a new residential project in Dubai Hills Estate. 

 

Valued at AED340 million ($92.5 million), the project will feature a mix of one-, two- and three-bedroom apartments in a central location within the established Dubai Hills Estate neighbourhood. 

 

Ellington Properties said the design and masterplanning for the new residential project will commence shortly.

 

A veteran entrepreneur with business interests in diverse sectors globally, and President and CEO of Asem Holdings Abdul Ahad 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," he stated.

 

One of the most sought-after residential destinations in the city, 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, he added.

 

Ellington Properties Co-Founder Nitin Bhatnagar said: "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 Ahad, we aim to create another stand-out residential project that will appeal to discerning investors," he stated. 

 

Ellington Properties has a varied portfolio of award-winning 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, he added.-TradeArabia News Service