Riyadh-based Artar Real Estate Development is offering a payment plan requiring only a 30 per cent investment prior to completion of the Mada Residences project in Downtown Dubai.

“Real estate has to adapt to keep up with the changing demands of investors and end users,” said Artar’s chief executive Sulaiman Abdulrahman Al Rashid.    

“They’ve become far more astute in the challenging economic times that we face now compared with the boom era of a few years ago. They have the right to ask why they should effectively pay for homes to be built, which is what has been happening with so many payment plans.

“More and more developers in this market realise that has to change so that most of the cost of a home is paid out after completion. Our payment plan is designed specifically to help investors and end users with their cash flow, and to build more confidence and trust in us as a developer that is dedicated to delivering quality homes on time.

“At the same time, developers must work to ensure that liveability becomes more than just a real estate buzzword, and that the homes they’re building are genuinely designed to give people a better level of space and comfort,” he added.

Mada Residences is located just a minute’s walk from Dubai Mall. It offers 193 larger than average one-, two-, three- and four-bedroom luxury apartments.

They include 80 two-bedroom apartments with maid’s rooms, a feature which has contributed to 70 per cent of all units already being sold. Artar is guaranteeing early deliver of all units in Q2 2018.

“We believe we’ve got the right formula, and sales to date supports that view,” said Al Rashid. “We think more developers will follow this trend in the market, just as they do in other parts of the world where the concept of liveability is a top priority because it has a major influence on where people decide to live.”

Artar will display the development at the upcoming Cityscape Global in Dubai in September.

Artar is the real estate development arm of Abdul Rahman Saad Al-Rashid & Sons, a group with over 50 years of regional experience in delivering high end projects on schedule. – TradeArabia News Service