UAE’s design-led boutique developer Ellington Properties has signed an AED 150 mn deal with entrepreneur Abdul Razeq Abdul Ahad, through Déjà Vu Real Estate, a real estate brokerage, to build a new residential tower in Dubai Invest-Gate reports.

The tower’s designing and master planning will commence shortly, according to a press release on September 9, noting that more details will be announced in due course.

Ahad commented, “There is significant potential to develop the right real estate developments, which require the expertise of proven developers such as Ellington …We trust Ellington’s competencies in building design-centered homes for the new generation that will secure strong returns.”

On his part, Nitin Bhatnagar, co-founder of Ellington Properties, highlighted, “This partnership is in line with our strategy of building up to 1,000 residential units annually, which will meet the aspirations of customers, who value the distinctive Ellington proposition. We are focused on expanding our portfolio through such strategic partnerships that enable us to deliver the right product offering at the right prices in the market.”

Chairman of Déjà Vu Real Estate Ahid Shaikh Mohammed stressed, “With its track-record of delivery, we see Ellington as a partner of choice for a milestone project that will also benefit from our expertise in property management.”

The new partnership will further add to Ellington’s growing portfolio of projects in Dubai. Ellington’s developments include the recently handed over Belgravia II, Belgravia Heights II launched in June 2018, as well as, Belgravia Square. Other flagship projects are Wilton Terraces and Wilton Park Residences in MBR City (Meydan), and DT1, located in close proximity to Downtown Dubai and Business Bay.