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The ownership of the housing units that are available for purchase in the Aras Residence project is freehold for all nationalities.
Aras Group, a Dubai-based real estate company, has announced the launch of its first real estate project in Majan. The project is named Aras Residence and valued at USD 20 million.
Aras Residence is the company's first residential project in Dubai. It includes a variety of residential options spanning over an area of 17,000 square feet. The development's total building area is 140,000 square feet.
The building comprises eight floors that include spacious studios with areas starting from 431 square feet, one-bedroom apartments with a terrace starting from 770 square feet and two-bedroom apartments with a terrace from 1,300 square feet as well as one apartment situated on the last floor of the building featuring three bedrooms and a lounge area, spanning over 2,443 square feet.
The building is designed in modern style. Wide windows, overlooking the green areas of the Al Barari area, will let abundant natural light inside.
Aras Residence is strategically located on Sheikh Mohammed Bin Zayed Road and near major areas in Dubai. IMG World is just 4 minutes away, Global Village is 8 minutes away, Downtown Dubai is 15 minutes away and Dubai Marina is 20 minutes away.
A whole range of world-class amenities and facilities will be available to residents of Aras Residence, among them are a gymnasium, a swimming pool, a children's play area and 24-hour security.
The apartments are distinguished by their modern and appealing design, with wide spaces and a focus on details. All of a family’s needs in terms of privacy and luxury are taken into consideration, which provides a calm and harmonious living environment.
'We are pleased to announce the launch of Aras Residence, which represents the first project of Aras Group in the residential real estate sector in Dubai. This comes in response to the increasing demand for state-of-the-art apartments that reflects our current strategy in developing projects. Through the Aras Residence project, we are committed to upgrading the quality of residential real estate for buyers looking for an atmosphere of a modern lifestyle and a modern design,' said Ashraf Mahmoud, chairman of the board of directors of Aras Group.
'We started implementing the project during the pandemic and we were confident that the economic situation in Dubai would stabilize so we were keen to continue work according to the drawn plan,' he added.
Today, the project completion rate has reached more than 50 percent, construction work is in progress so that the project is ready for delivery in the last quarter of 2021.
The ownership of the housing units that are available for purchase in the project is freehold for all nationalities in accordance with the free ownership law in UAE.
