Dubai: Abu Eid Real Estate Development, a private developer headquartered in Dubai, announced the launch of its first residential project, Celia Residence, in Dubai Studio City, with an investment value of up to 70 million dirhams, in cooperation with Imtilak Real Estate. Provider of integrated real estate services in the UAE.
This came during the launch ceremony of the project, which was held at the “Habtoor Palace Dubai” last Thursday, in the presence of a large number of members of the company’s management team, its main partners, investors and customers wishing to purchase housing units in the company’s first real estate projects.
The Celia Residence project consists of 111 residential units, varying between studio apartments, one-room apartments, and two-bedroom apartments, and offers the cheapest studio starting from only 380 thousand dirhams for the first time ever in Dubai, with a high investment return of up to 10%.
Celia offers a highly flexible 5-year payment plan directly from the developer, making the project a realistic and attractive opportunity for end users and investors alike.
During the launch ceremony, Hussain Abu Eid, Chairman of the Board of Directors of Abu Eid Real Estate Development Company, said: “The launch of Celia Residence in Dubai Studio City, which is one of the most vibrant and modern areas in the emirate, is in line with this achievement and the noticeably increasing demand for this region. Very promising from Dubai.
He added that Dubai Studio City, which extends over more than 22 million square feet, is characterized as an important strategic location in the middle of the main areas of the Emirate of Dubai and is easily accessible from all parts of the city. It provides advanced facilities for commercial offices, especially for broadcasting and radio companies, as well as production companies for film, television, music, and other entertainment sectors.
He pointed out that the project will be delivered within two years, specifically in October of 2024, while it was very popular because it combines high quality and reasonable prices at the present time.
Hussein Abu Eid pointed out that the company aims to invest one billion dirhams during the next five years, according to the long-term investment plan, distributed over a number of residential and commercial projects in several regions in the emirate, and a real estate project will be launched with an investment volume double the current project, within six months from now.
He pointed out that these projects are an opportunity for those who wish to invest or for anyone looking to own a home to settle in the most advanced and prosperous Arab cities.
Hussein Abu Eid said that his company, which was established in 1989 in Lebanon and works in the field of real estate development, has implemented thousands of real estate projects and introduced the small villa system in 2009 in a real estate precedent for the region, while its projects extended from the Lebanese market to Turkey and the United Arab Emirates up to Morocco and Portugal, explaining that the company established its headquarters in Dubai in 2014, while it recently moved its main office to the emirate.
The Chairman of the Board of Directors of “Abu Eid Real Estate Development Company” stressed that real estate investment in Dubai is considered the most profitable and safe, but there are a set of tips that must be adhered to achieve successful investment and good returns, including evaluating the investment and determining the expected return in the future, and studying the real estate market situation in terms of Prices, supply and demand, study the area in which you want to buy a property, and choose the type of property in accordance with the investment plan, budget and goal of the investment, with the identification of operating costs and expenses, and it is preferable to seek the assistance of experts in this field.
And he added: “A careful reading of the real estate scene in Dubai leads us to the fact that the market is witnessing a renewed wave of investment momentum and strong sales, which reached an unprecedented record of more than 210 billion dirhams since the beginning of 2022, which means the increasing confidence in the Dubai real estate market and its developed real estate environment, which provides a strong legislative system to regulate the real estate market. It is expected that the real estate market in the emirate will gain more momentum during the next year and that it will embark on a new rising wave of sustainable growth thanks to the increasing demand for certain categories.
He revealed that Dubai’s strategic location contributed to raising its shares among many foreigners who chose to live in it, as most areas can be reached in a short travel period of no more than 4-5 hours, in addition to the unprecedented facilities in terms of granting golden residency, which are also granted In exchange for real estate.
He added that the Emirate of Dubai is the best destination to live and work, thanks to its ultra-modern social and economic infrastructure and safe living environment, as well as an incomparable lifestyle and world-class career opportunities, which has cemented its reputation as one of the most liveable cities in the world, and made it a popular destination among immigrants and their families.