Aras Group, headquartered in Dubai, announced today the launch of its first real estate project, “Aras Residence,” in the Majan area, at a total cost of 75 million dirhams.
The “Aras Residence” project is the company’s first residential project in the Emirate of Dubai, as it includes a range of diverse and spacious residential options, extending over an area of 17 thousand square feet, and a total building area of 140 thousand square feet. The building consists of 8 floors and includes studios with spacious areas starting from 431 square feet, one-bedroom apartments and a hall starting from 770 square feet, as well as two bedrooms and a hall with an area of 1,300 square feet, in addition to one apartment located on the eighth and last floor of the building consisting of 3 rooms. A bedroom and a living room with an area of 2443 square feet.
The architectural design of the building is inspired by the modern style, as it will provide wide facades of windows overlooking the prairie area, allowing natural light to enter and enjoying the beauty of the nature of the green areas in the same area. The “Aras Residence” project enjoys an attractive strategic location on Sheikh Mohammed bin Zayed Road and close to the vital areas in Dubai. It is 4 minutes from IMG World, 8 minutes from Global Village, 15 minutes from Downtown Dubai, and 20 minutes from Dubai Marina. . The project will provide residents with a package of world-class facilities and amenities, including a gym, a swimming pool, and a children’s play area, within a green environment, a wonderful atmosphere, and 24-hour security.
Chairman of the Board of Directors of Aras Group, Ashraf Mahmoud, said: “We began implementing the project during the pandemic and we were confident that the economic situation in the emirate would stabilize, so we were keen to continue working according to the drawn up plan. Today, the project completion rate has reached more than 50%, and we are continuing to work until the project is ready for delivery in the last quarter of the end of the current year 2021.”
For his part, the head of the marketing department at Aras Group, Alaa Masoud, said: “Today we announce the opening of the sale of residential units for the (Aras Residence) project, our first real estate project, as a special bank escrow account for the project has been opened and approved by the Real Estate Registration Department of the Dubai Government after… The completion rate exceeded 50%. For customers wishing to own a property, we offer easy payment plans of up to five years after handover.”
Masoud pointed out that ownership of the residential units available for purchase in the project is freehold for all nationalities, in accordance with the freehold law in the UAE.