Palma gets Amlak backing for Serenia Residences

Palma Development has struck a strategic alliance with Amlak Finance to offer financing for their properties at Serenia Residences on Palm Jumeirah.

Customers can make an initial down payment of the unit price, and Amlak finances the balance based on the customer’s portfolio and financial status. Through the scheme, finance is available for up to 25 years, with profit rates from 3.75-4.9 per cent being fixed for the first three years. “Potential customers … now have access to a range of financing scheme tailored by Amlak specifically for this premium development,” stated Kareem Derbas, CEO and Co-Founding Partner, Palma Holding.

The Dh1.5 billion Serenia Residences development is designed by Hazel Wong, the architect who also did Emirates Towers. Located on the exclusive Palm’s Crescent, the 850,000 square feet development comprises 250 units of one- to four-bedroom apartments as well as penthouse suites.

“We look forward to providing our Tatweer program to Serenia Residences’ customers,” said Adnan Al Awadhi, Chief Commercial Officer, Amlak Finance.

Palma Development, meanwhile, says its strategic alliance with Amlak Finance ‘has given it the confidence to develop similar exclusive projects’.

Source: Staff Report,


For Rent


View more properties

For Sale


View more properties