For building a new residential tower in Dubai Ellington Properties signs AED 150 million deal with Déjà Vu Real Estate

Ellington Properties, Dubai's leading and winning design developer, has signed an agreement with leading entrepreneur Abdul Razeq Abdul Ahad for AED 150 million to construct a housing tower in the main place of Doubai via Dejà Vu Real Estate.

Abdul Razeq, a global strategic company player in a variety of areas, signed the contract in the presence of Déjà Vu Real Estate Chairman Ahid Shaikh Mohammed, together with Joseph Thomas, Managing Director and Nitin Bhatnagar, Co-Founder of Ellinton Properties. The new housing tower will soon be designed and masterly planned, with more information will commence shortly.

Abdul Razeq Abdul Ahad said: “There is significant potential to develop the right real estate developments, which require the expertise of proven developers such as Ellington. Déjà Vu Real Estate recommended Ellington Properties for this important investment in Dubai’s property sector based on its insightful understanding of the industry. In building design-centered homes for the new generation, we trust Ellington's expertise that secures strong returns.”

Nitin Bhatnagar said: "The arrangement further underlines the confidence in the development and delivery of outstanding lifestyle settings which generate value-added for all stakeholders by investors and major estate managers such as Dejà Vu Immobilien. This partnership is consistent with our approach to build up to 1,000 housing units per year, which will satisfy customer ambitions that value the unique proposal of Ellington. We aim to broaden our portfolio by means of such strategic partnerships that allow us to offer the correct product range at the correct market rates."

"We are the leading real estate services company in Dubai and we value partnerships that bring about true changes in the industry with developers like Ellington Properties, said Ahid Shaikh Mohammed. Abdul Razeq Abdul Ahad was a worldwide entrepreneur and wanted a trustworthy developer to invest in Dubai's property development. With its shipping track record, we see Ellington as a partner of choice for a landmark project that will also benefit from our estate management knowledge.

Ellington's fresh collaboration will further enhance its increasing project portfolio in Dubai. The developments in Ellington include the recent Belgravia II, the Belgravia Heights II, and Belgravia Square, which was launched in June 2018. Other key developments of Ellington Properties–all ensuring powerful investments and a powerful lifestyle for the inhabitants–are Wilton Terraces and Wilton Park Residences in MBR City, Mejdan, and the DT1 residence, close to Downtown Dubai and Business Bay.

Deja Vu Real Estate is one of the region’s leading real estate companies offering comprehensive and professional property services to corporations, investors and individuals across the globe. Known for its superior service, Déjà Vu is affiliated with some of the largest real estate entities in Dubai and abroad.

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