Palma Development has announced that Khansaheb will be the main contractor for its exclusive Serenia Residences, the sole residential-only community to take up space on Palm Jumeirah’s Crescent. With a value of AED 400 Million, the contract will see Khansaheb deliver the latest offering from Palma Development – one of the region’s most renowned property developers and a subsidiary of Palma Holding – within 22 months from signing.
“We are delighted to announce Khansaheb as the contractor for Serenia Residences, a premium community development that features residential apartments and penthouses close to the water’s edge. Serenia Residences’ prime location and its wealth of high level amenities will see it as the most exclusive beachfront residence in the city, so completing such a project in less than two years was a significant requirement of the project tender.” Kareem Derbas, CEO and Co-Founding Partner, Palma Holding
In appointing Khansaheb, Palma Development went through an extensive tendering process that saw several potential contractors’ proposals evaluated. Prime consideration was given to submissions that proved delivery of quality developments within a demanding timeframe. Khansaheb was awarded the contract following their demonstration of an impressive portfolio of projects that met strict timelines whilst staying within quoted budgets.
“We are excited to be partnering with Palma Development in the construction of Serenia Residences. As to be expected with a developer with such a renowned name in Dubai’s real estate landscape, the procurement process was stringent and exhaustive. Ultimately, we believe that we were selected by Palma due to our track record in the successful completion of many such prestigious and high quality projects on time and on budget.”Steve Flint, Group General Manager, Khansaheb Civil Engineering.