$400m luxury residential scheme opens on Palm

05.05.2015
It comprises 250 units, including one- to four-bedroom apartments and penthouse suites ranging in price from AED2 million ($544,510) to AED35 million.

The first residential-only development on Dubai’s Palm Jumeirah has launched this week, Arabian Business reported.

Serenia Residences is a scheme by Palma Development, a subsidiary of Palma Holding and real estate firm Banian FZCO.

It comprises 250 units, including one- to four-bedroom apartments and penthouse suites ranging in price from AED2 million ($544,510) to AED35 million for the scheme’s so-called Presidential Penthouse.

The AED1.5 billion development was designed by Hazel Wong, the architect behind Dubai’s landmark Emirates Towers in DIFC, and is intended to provide high-end, resort-style beachfront living. Around 70% of the plot has been dedicated to landscaping and amenities.

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