UAE-based Prescott Real Estate Development has announced the launch of its new residential project, Prime Residency III, featuring 292 luxury apartments with a mix of studios and one-bedroom units, located within the Al Furjan community in Dubai.

An AED140-million ($38 million) project, Prime Residency III comprises a ground floor, two podium levels and seven upper floors offering various amenities and facilities under one roof. The mixed-use development offers immaculately designed and spacious studios and one-bedroom apartments, with views of the city’s spectacular skyline.

According to Prescott, the ultra-modern, fully-equipped, smart-home apartments offer a great blend of affordability and luxury  finishes. Apartment prices start at AED368,000.

In addition to key amenities such as a swimming pool, kids’ pool, and gym, the project offers an elegantly designed residents’ lounge for casual get-togethers, a rooftop garden, and a tastefully crafted outdoor sitting area.

To woo investors, the Dubai developer is offering flexible payment schemes under which a 10 per cent down payment has to be made followed by another 10 per cent after three months and then quarterly instalments of five per cent for a year, 10 per cent on handover, and 50 per cent post-handover over three years.

CEO Muhammad Shafi says: “Our focus has always been to create unparalleled living experiences for our customers. All of our projects adhere to three pillars that are the cornerstone of our success: Prime Quality, Prime Location, and Prime Privileges. Our latest project is no different. We are committed to making affordable luxury living possible for everyone.”

Strategically located, Prime Residency III is a four-minute drive from Sheikh Zayed Road, 13 minutes from the Expo 2020 site, and a 25-minute drive to Downtown Dubai. Also the nearest metro station is just three minutes away, connecting the residential apartments to the rest of the city, Prescott says.