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Dubai has once again reaffirmed its status as a global hub for luxury property. Palma Development has successfully completed its flagship beachfront project, Serenia Living, on the crescent of Palm Jumeirah. It is one of the most prominent premium-class developments to be handed over in early 2026.
Construction began in 2022 with a declared development cost of approximately $817 million (3 billion UAE dirhams). By the time of handover, the market valuation of the complex had exceeded 6 billion dirhams, or $1.82 billion. This almost twofold increase over a few years reflects sustained investor demand for luxury accommodation with direct sea views and a private beach in one of Dubai’s most prestigious areas.
The development was completed in February 2026, strictly on schedule. The handover of keys to owners began in early April. The complex comprises four towers and features 226 residences. Buyers are offered two-, three- and four-bedroom apartments, half-floor or full-floor penthouses, as well as exclusive Sky Mansions with panoramic views of the Arabian Gulf and the Dubai skyline.
Particular attention has been paid to the amenities designed for everyday comfort. Key amenities include one of the emirate’s largest residential swimming pools, a state-of-the-art fitness centre with a personal training area, indoor and outdoor children’s play areas, direct access to a private beach, and a professional padel court seamlessly integrated into the green spaces. All these facilities are accessible to residents of any of the four towers, creating a sense of a unified private space.
Karem Derbas, CEO of Palma Development, noted that the timely handover of the project underscores the company’s commitment to the highest quality standards and the precise fulfilment of its obligations to clients. According to him, the project does not simply add square metres, but creates an environment that fully meets the expectations of luxury property owners.
Palma Development, which has been operating in the market since 2002, has already established itself with landmark waterfront projects, including Cayan Infinity Tower, Silverene Towers and Serenia Residences The Palm. Serenia Living has become a logical continuation of this line-up, cementing the developer’s reputation as a reliable partner for those seeking long-term investments in the premium segment.
The completion of the project amidst regional instability served as a further sign of the Dubai market’s resilience. Experts emphasise that demand for such properties remains high, as investors value the combination of a prime location, thoughtful design and established infrastructure. Serenia Living has not only expanded Palma Development’s portfolio but has also added a new landmark to the map of Palm Jumeirah — a symbol of the luxurious lifestyle in the United Arab Emirates.
