A 70-story residential building in Dubai is set to begin construction in August. Deyaar Development PJSC is launching Regalia in Business Bay. It will be the tallest tower the firm has built.
The building will feature smart-home enabled residences. Amenities planned for the AED 1 billion (US$ 272 million) skyscraper include an Olympic-size infinity pool with private cabanas and Jacuzzis, a family gymnasium, a yoga pavilion, and an outdoor winter cinema. The project also features BBQ and private dining areas, residents’ lounge and business center, as well as indoor and outdoor children’s play areas, a wealth of landscaping, and great lawns.
The property market in the UAE softened as a result of a three-year oil price slump that began in 2014 and the Covid-19 pandemic, according to The National.
However, economic support measures and government initiatives, including retiree visas and the expansion of the 10-year golden visa program to encourage foreign professionals to settle in the UAE, have helped to improve sentiment. Expo 2020 Dubai and the emirate’s new remote working visa are also expected to drive up property demand.
Established in 2002, Deyaar has developed projects in the emirate’s Business Bay, Dubai Marina, Al Barsha and Jumeirah Lakes Towers districts. Earlier this year, it announced the handover of the Bella Rose development, a 478 residential unit project in Dubai Science Park. Construction of the third and fourth phases of its Midtown residential project, which will add 11 more buildings to the development, is also progressing according to plan, it said in April.
The Regalia development is expected to be completed in December 2024.
For more on this story, go to The National.