Deyaar to Hand over Units of Madison Residency

DUBAI - Deyaar Development, one of the major property companies in Dubai is turning over all units of its just-completed Madison Residency project on May 16.

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Published: Sat 18 Apr 2009, 12:23 AM

Last updated: Sun 5 Apr 2015, 9:27 PM

The 26-storey Madison Residency which comprises 312 residential units, including 161 luxury studio apartments, is the first of seven buildings scheduled to be handed over in 2009. Deyaar said it will organise an orientation programme to advise all homeowners on the handover process.

“A programme of this nature is an essential practice followed by leading global developers. It provides customers the opportunity to understand the exact documentation procedure for the final handover, as well as the facilities management contract,” said Markus Giebel, chief executive officer of Deyaar.

Deyaar said previously it was putting some of its property projects on hold, reducing prices on select projects, and refunding its customers who made partial payments on some of their projects.

Some of the projects it put on hold due to the property downturn in Dubai are the Deyaar Enclave, Deyaar Park and Mirar Residencies.

rocel@khaleejtimes.com

Published: Sat 18 Apr 2009, 12:23 AM

Last updated: Sun 5 Apr 2015, 9:27 PM

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