Boutique developer Ellington Properties has signed a deal with Déjà Vu Real Estate to build a residential tower in Dubai worth $40.8m (AED150m).
The real estate developer – founded by former Emaar executive Robert Booth in 2014 – has not confirmed where the building will be located, how big it will be or how many units it will have.
All we know so far is that the unnamed residential tower will be in a “central location” of Dubai.
Ellington Properties has established a reputation in the market for its design-led approach to residential development, with projects such as Belgravia Heights and Wilton Park Residences (pictured), which Anarchitect has designed.
The agreement with Déjà Vu Real Estate was signed by the co-founder and managing director of Ellington Properties, Nitin Bhatnagar and Joseph Thomas respectively, as well as entrepreneur Abdul Razeq Abdul Ahad.
Bhatnagar said the agreement to build the residential tower underscored Ellington’s goal to build “up to 1,000 residential units annually” as it expands its real estate portfolio.
Abdul Razeq Abdul Ahad called the real estate deal “significant” and praised Ellington’s track record of “building design-centred homes for the new generation”.
The agreement was signed in the presence of Déjà Vu Real Estate’s chairman, Ahid Shaikh Mohammed. He said: “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.”