UAE-based Palma Development, said it has signed up Khansaheb Civil Engineering as the main contractor for its Serenia Residences project which will come up on Palm Jumeirah's Crescent in Dubai, UAE.

The Dh400 million ($109 million) contract will see Khansaheb deliver the latest offering from Palma Development within 22 months from signing the deal.

Designed by famous architect Hazel Wong, the Serenia Residences project is one that is exclusively residential and features contemporary architecture and layouts unique to the Palm Jumeirah.

The 850,000-sq-ft development comprises 250 units, with apartments ranging from one- to four-bedrooms and penthouse suites.

Commenting on the deal, Kareem Derbas, the CEO and co-founding partner of Palma Holding, said: "We are delighted to announce Khansaheb as the contractor for Serenia Residences, a premium community development that features residential apartments and penthouses close to the water’s edge."

"Serenia Residences’ prime location and its wealth of high level amenities will see it as the most exclusive beachfront residence in the city, so completing such a project in less than two years was a significant requirement of the project tender," noted Derbas.

Steve Flint, the group general manager, Khansaheb Civil Engineering, said: "We are excited to be partnering with Palma Development in the construction of Serenia Residences. As to be expected with a developer with such a renowned name in Dubai’s real estate landscape, the procurement process was stringent and exhaustive."
 
"Ultimately, we believe that we were selected by Palma due to our track record in the successful completion of many such prestigious and high quality projects on time and on budget," he added.

Lauding the contactor, Hassan H. Nia, the chief executive of Banian, the owner of Serenia Residences, said: "Khansaheb has an enviable portfolio for the delivery of premium real estate developments in Dubai."

"We are confident in their ability to bring Serenia Residences to the market within two years and in doing so, create the ultimate in resort-style beachfront living on one of the city’s most sought-after locations, Palm Jumeirah," he added.-TradeArabia News Service