Palma Holding responds to high-quality affordable housing

Palma Holding responds to high-quality affordable housing demand with launch of Olivara Residences & Park

  • Leasing commences for the ready-to-move-in signature development targeting the youth

Dubai, UAE, 8 June 2020: Palma Holding, one of the most prestigious names in the real estate industry, has announced the release of its AED 365 million Olivara Residences & Park — the first integrated community in Dubai Studio City. This new project marks the third collaboration between Palma and Hazel Wong, the renowned architect of Emirates Towers, Silverene Towers, and Serenia Residences among others. Leasing for the ready-to-move-in project has commenced offering residents a contemporary and distinct lifestyle.

Olivara Residences, a vibrant residential community, is made up of four low-rise buildings, which include 250 units comprising studio, one-, and two-bedroom apartments in addition to a clubhouse and a massive park. The project was designed with the well-being and discerning lifestyles of young families and individuals in mind, offering 100,000 sq. ft of a lush green park, play areas, a state-of-the-art gymnasium, walking lanes, and access to Palma community bicycles.  The clubhouse will be home to Innerfight, a leading performance & fitness club, led by The Marathon Man, otherwise known as Marcus Smith.  A yoga studio and paleo café will also be part of the club, making it a truly elevated urban community.

In his comments on the new project, Kareem Derbas, founder and CEO of Palma Holding, said: “Following our successful beachfront projects, Olivara Residences represents our first urban community. We saw a gap in the market for contemporary and trendy residences that cater to the young, working population who are looking for quality, urban living, with great facilities and competitive leasing options.”

“The project combines functional spaces with distinct finishes and details, combined with outstanding amenities, fitness facilities, and excellent leasing rates.  Our aim is to consistently transform what it means to live and connect with the community,” he added.

Interior spaces at the project’s units were thoughtfully designed with large glass windows that allow abundant sunlight and extend park views into the living space. Each home also features a fully fitted Italian kitchen equipped with stainless steel appliances. Additionally, Olivara provides generous parking spaces for both residents and visitors.

Phase 1 of Olivara Residences is ready for move-in and open for viewings, with a number of unit types available for showcase. The second phase of the project is under construction and will be ready by summer 2020.

Palma Holding has received a number of awards for the architecture, design, and overall excellence of its projects and real estate services. The company’s mandate is to create an exceptional lifestyle for its residents in sustainable communities that enrich their lives.

Since its inception, Palma Holding has completed over 5 million sq. ft of premium properties in Dubai, valued at over AED 6 billion, with standout developments in the market, such as, among others, Silverene Towers and Serenia Residences, its flagship project and the only exclusively residential community on The Palm Jumeirah’s Crescent.

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