Deyaar to hand over six projects in 2010

The handover will include five projects in the Business Bay master development and one project in International Media Production Zone (IMPZ).

Of the projects scheduled for delivery next year, five are residential properties, while one is commercial.

The first project to be delivered in 2010 will be Hamilton Residency, a premier residential tower located in Business Bay, scheduled for delivery in the first quarter.

This will be followed by the delivery of four projects in the third quarter of 2010. These include Mayfair Tower and Mayfair Residency, both contemporary residential towers located in Business Bay. The other two projects to be delivered in the third quarter include Clayton Residency, located in Business Bay, and Oakwood Residency, located in IMPZ.

The fourth quarter of 2010 will see the handover of 51@Business Bay, a state-of-the-art commercial tower located in Business Bay.

Deyaar's handover schedule for 2010 was announced at Cityscape Dubai 2009. All properties offer a wide range of superior amenities and the highest construction quality.

"The hallmark of Deyaar's success and indeed one of its key differentiating factors amidst these challenging conditions has been its commitment to its customers and focus on high-quality real estate projects whose value as an investment-grade product will endure over many years,"

said Markus Giebel, Chief Executive Officer of Deyaar.

"As the business and investment paradigm for the regional real estate sector undergoes a structural shift due to global economic trends, Deyaar has already adopted a strategic approach that has enabled it to streamline its portfolio and focus on long-term value proposition for end-users and investors. The announcement of our handover schedule for 2010 is in line with this guiding strategy and reinforces our continued commitment to transparency and customer service excellence."