Dubai’s Deyaar says Afnan, Dania districts at Midtown project now 50% complete

Dubai-based Deyaar Development has revealed that construction of Afnan and Dania districts in its Midtown development have reached the halfway point.

Units’ sale in both districts have crossed 87 per cent, the developer revealed in a bourse statement.

Afnan was launched in 2015 as the first phase of the 5.5 million sq ft, Midtown development in Dubai Production City.

Consisting of seven residential buildings, the Afnan district will include 659 apartment units comprising 132 studios, 374 one-bedroom, 143 two-bedroom, and 10 three-bedroom apartments.

The district was originally due for completion by September 2018.

The Dania district, launched in 2016, includes six residential developments comprising a total of 579 apartment units with 131 studios, 295 one-bedroom apartments, 143 two-bedroom apartments, and 10 three-bedroom apartments.

Earlier this year, officials said units were expected to be handed over in the fourth quarter of 2019.

The overall Midtown development comprises 27 buildings across six districts, that will share a single-level podium covering retail, parking and essential services.

Meanwhile Deyaar also confirmed that work its Millennium Hotel and Serviced Apartments is expected to be complete by the end of 2018.

Located close to Mall of the Emirates in Al Barsha, Deyaar Millennium has a total built up area of more than 450,000 sq/ft and will have 408 unit. That includes 299 hotel rooms – of which 15 will be suites – and 109 serviced apartments – a mix of 93 one-bed and 16 two-bed apartments.

The company also said it is continuing handover of The Atria residential tower since July 2018.

A luxury mixed-use twin tower complex, The Atria’s residential tower comprises 219 units over 30 floors, including one to three-bedroom apartments, three-bedroom duplexes, and four-bedroom penthouse.

The hotel apartment tower is composed of 347 bespoke apartments, including studios, one, two and three-bedroom apartments, and three-bedroom duplex units, with construction now complete.

Saeed Al Qatami, CEO of Deyaar said: “Deyaar will continue to develop and deliver properties inline with the UAE’s wide-ranging community needs and preferences.”

Dubai’s property market has been facing a slowdown, with sales prices and rents reducing over the last few years.

Transaction values and volumes have also slowed this year.