Dubai’s leading design-led real estate developer, Ellington Properties, has signed an agreement with entrepreneur Abdul Razeq Abdul Ahad, through real estate brokerage Deja Vu Real Estate, to develop a new residential project in Dubai Hills Estate.

Valued at $92.5 million (AED 340 million), the project will feature one-, two-, and three-bedroom apartments in a central location within the established Dubai Hills Estate neighbourhood.

The design and master planning for the new residential project will commence shortly.

A veteran entrepreneur with business interests in diverse sectors globally, Abdul Razeq Abdul Ahad, the president and CEO of Asem Holdings, said: “This is my second agreement with Ellington Properties to develop residential projects in Dubai following the recommendation of Deja Vu Real Estate.

“The decision was taken after careful market study of the location and inspired by the superior build quality the firm delivers across all its projects. Dubai’s property sector is one of the most robust globally and there is significant potential for growth, especially in areas such as Dubai Hills Estate with high rental yields and return on investment.”

The co-founder of Ellington Properties, Nitin Bhatnagar, said: “Leading investors and property management and advisory firms such as Deja Vu Real Estate realise the value we bring to the industry through our projects. We are committed to creating vibrant communities that promote the wellness of our residents and bring long-term value to their property investments.

“Dubai Hills Estate has an inspiring location with large green parks, play areas, a new mall, and close proximity to world-class educational institutions and hospitals. Through our strategic partnership with Abdul Razeq Abdul Ahad, we aim to create another stand-out residential project that will appeal to discerning investors.”

One of the most sought-after residential destinations in the city, Dubai Hills Estate is now a thriving neighbourhood that can be easily accessed from all major highways such as Sheikh Zayed Road, Al Khail Road, and Mohammed bin Zayed Road.

With an 18-hole championship golf course at the heart of the community, the 2,700-acre Dubai Hills Estate has more than 1.45 million square metres of parks and open spaces, 54km of bicycle trails, a central Dubai Hills Park, and the upcoming Dubai Hills Mall as central attractions.

Ellington Properties has a varied portfolio of award-winning projects including Belgravia and Belgravia II, Belgravia Square, Belgravia Heights I, Eaton Place, and Somerset Mews – all located in JVC; DT1 in Downtown Dubai; as well as Wilton Terraces I and II, and Wilton Park Residences.

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.