With an initial investment fund of AED1.3 billion, the partnership will begin a number of projects in Dubai’s extremely competitive mid-size development category.
With DECA Properties, a global leader in development management with operations in the US and Europe among other countries, and Karma Developers, a prominent player in the luxury segment in the UAE, moving to join forces to develop housing projects across some of the most desirable locations in the city, the industry is seeing new alignments.
With an initial investment budget of AED1.3 billion (more than $354 million), the partnership, which is being hailed as the first of its kind in Dubai in recent years, will kick off a number of projects in the extremely competitive mid-size development category.
The collaboration, which is intended to improve project launch, quality, and completion efficiencies and speed, is intended to create “exciting new living experiences” in Dubai, according to company executives.
According to Saxena, the two businesses will be dedicated to developing great real estate projects that would aid in the development of the emirate.
At Karma Developers, we have a strong belief in Dubai’s potential to become a major international center for travel, trade, and living.
Karma Developers is a well-known industry participant with successful projects outside of the UAE in India, Cyprus, and the UK. It is well known for its flagship project, the Beach House on the Palm Jumeirah.
Exciting new lifestyle opportunities coming to Dubai Real Estate
According to company sources, the new alliance will move fast to unveil a number of new residential projects within the first three months alone.
One of the projects in the first phase will be Olivia Residences in Dubai Investments Park (DIP), along with two other noteworthy developments in Arjan and DLRC.
There will be more than 484 apartments there, along with retail space and community amenities.
With a current project pipeline of AED1.3 billion, the overall goal is to provide interesting new living experiences across prominent sites in Dubai, according to Saxena.
According to industry insiders, the new cooperation will be a fascinating new addition to the rapidly developing real estate market in Dubai and the UAE, and it may even set new standards for project execution and design.
DECA Properties will increase its presence there.
The relationship with Karma will enable DECA Properties, which is known as a pioneer in creating alliances in the real estate industry, to establish a strong and substantial presence in the area, especially in Freehold Property in Dubai.
Over 2,500 alliance partners from across the world, including the UK, US, France, Russia, China, India, and South Africa, are part of the company’s record-breaking global network.
When it comes to building a solid reputation in Dubai as well as the rest of the region, its sales and marketing services to local real estate developers will be a genuine advantage to both it and the UAE company.
