ARTAR Real Estate Development, the property development arm of Saudi Arabia’s Abdul Rahman Saad Al-Rashid & Sons Co., has unveiled plans to build its first luxury residential development in the United Arab Emirates (UAE).

 

Located in Downtown Dubai, Mada Residences will have 193 furnished units of various floor spaces and floor-to-ceiling glass in each unit, the company said in a statement on Monday.

 

ARTAR said it was in the process of arranging financial agreements with local banks to help potential customers finance the off-plan project.

 

Customers are requested to pay up to 30 percent of the property value within the first year, with the remaining 70 percent settled upon completion of the project, it added. 

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