ARTAR Real Estate Development Announces 15% Completion of Mada Residences

ARTAR Real Estate Development, the property development arm of Abdulrahman Saad Al-Rashid & Sons Co., announced that it has achieved a 15% completion rate of Mada Residences. Situated in Downtown Dubai, the exclusive residential property development is ARTAR's first project in the UAE.

“Since the commencement of construction, the progress of Mada Residences, has been on schedule,” said Sulaiman Abdulrahman Al Rashid, CEO of ARTAR Real Estate Development L.L.C. “We are in the process of pouring the concrete for the first podium floor above ground, with the main core of the tower reaching the 5th floor,” he added.

The rapid progress follows on the expectation to deliver the project no later than July 2018. With strong interest from the GCC and international buyers, the development has seen strong demand as potential buyers gravitate towards the modern amenities and location offered by Downtown Dubai. 

“As of today we are ahead of our own sales targets. Savvy buyers are recognizing the potential of this area and are confident enough to purchase multiple units with expectations of steady appreciation over the next three to five years.” Sulaiman Abdulrahman Al Rashid added. “Our successful sales record with Mada Residences is largely attributable to our competitive prices, attractive payment plan, project location, unit layout design and the advanced construction progress”. 

Mada Residences is the first luxury residential project in the UAE from ARTAR Real Estate Development, a group with over 50 years of regional construction and development excellence. Located in Dubai’s premium lifestyle district, Downtown Dubai, the AED 600 million development comprises a total of 193 one, two, three and exclusive four-bedroom spacious units. 

Mada Residences has been designed by its architects to have a focus on light and space and is characterised by generous living areas and modern finishes. With prime use of floor-to-ceiling glass throughout, each unit at the development has been styled to be light, airy and roomy. Residents at Mada Residences will have access to a luxury roof-top swimming pool, children’s pool and terrace lounge that offer stunning views across the city, as well as enjoy sauna and steam rooms, Jacuzzi, a state-of-the-art gym and a multi-purpose residents’ lounge.

ARTAR Real Estate Development has capitalised on the high standing enjoyed in its country of origin by extending its reach to become a global developer. Already an established and prominent name in the Kingdom of Saudi Arabia’s real estate and construction sector, the company has developed a well-deserved reputation for uncompromising integrity, well-planned engineering and efficient creation of spaces that merge livability with value. In addition to Mada Residences, ARTAR Real Estate Development has a number of other highly anticipated projects in the planning stage, with announcements to follow.