UAE: Developer Ithra Dubai has entered into an agreement with Cheval Collection to manage its newest mixed-use project, located in Barsha Heights, Dubai.
The Barsha Heights mixed-use project, operated under the Cheval Maison brand, will offer more than 280 serviced and residential apartments, retail outlets, and luxury leisure facilities. The project will target families, business travellers, and international buyers/leasers. Larger apartments will cater for families, while smaller one- and two-bedroom apartments and studios will meet the needs of couples or single occupants.
Ithra Dubai says the development is distinguished by “high-quality design, distinctive architectural features, and seamless management”.
Khalifa Al Daboos, Ithra Dubai board member, said: “this mixed-use project is yet another important milestone for Ithra Dubai. The introduction of this innovative, high-quality living environment is in line with our aspiration to enrich Dubai and add value to the lives of citizens through well-thought out real estate offerings. By working with Cheval Collection, a company renowned for overseeing luxurious real estate across the globe. Ithra Dubai can ensure this residential project will deliver sophisticated design and high-quality finishing across all units.”
Mohammed S Almarzooqi, managing director of Cheval Collection, said: “We are honoured to be partnering with Ithra Dubai to realise this project. Today’s signing is an affirmation of mutual confidence in each other’s enterprises. We believe that this development will capture the world’s attention and be of interest to audiences well beyond the borders of the UAE.”
Currently, the Barsha Heights project is in the design phase, with construction expected to commence in Q4 2019.
Ithra Dubai LLC is wholly owned by Investment Corporation of Dubai (ICD). It develops and manages a large portfolio of pioneering real estate projects in Dubai and in key international markets.
The deal was announced today at Cheval Collection’s offices in London. In attendance were His Excellency Mohammed I. Al Shaibani, CEO and executive director of the Investment Corporation of Dubai; Khalifa Al Daboos, board member at Ithra Dubai; and Cheval Collection’s managing director Mohammed S Almarzooqi, and CEO George Westwell.</p
