Karma Developers launches Dhs300m luxury residential project in DIP

Sajjad Ahmad, Deputy Business Editor

To elevate Dubai’s real estate landscape and strengthen the city status as hub of new developments, Karma Developers unveiled Dhs300 million new luxury residential project, Olivia Residences, in the Dubai Investment Park (DIP).

The launch of new project held at Caesars Palace Dubai on Tuesday in the presence of of VIPs and investors.

The only residential community adjacent to Green Community in DIP-1, the tower will feature 229 one-, two- and three-bedroom apartments with premium finishings each offering stunning views with units starting at Dhs680,000. The project is aiming for completion in Q2 2026 and boasts a prime location next to a metro station, retail outlets, dining, healthcare facilities and reputed schools.

Setting a new benchmark in attainable luxury, the stunning tower is equipped with a range of amenities including an infinity pool, spa, yoga studio, Zen garden, and outdoor cinema not to mention open lawns, a children’s play area and more.

The elegant launch event featured interactive displays that brought to life Olivia’s cutting-edge design and amenities.

Noteworthy elements announced on the night included the revolutionary first-of-its-kind 10/90 plan. The buyer needs to make a 10 per cent down payment followed by 1 per cent payments for 90 months. There are no accelerated payments in between and investors can look forward to up to 15 per cent annual rental yield unmatched by any other project in this category.

“We are thrilled to officially unveil Olivia Residences, our most innovative project yet, to Dubai’s discerning community,” said Shahzad Narain Saxena, Chief Executive Officer, Karma Developers. “With its unprecedented 8-year payment flexibility and a prime location next to the vibrant Green Community, Olivia brings a new level of accessible luxury living to the city.”

He added that Olivia reinforced Karma’s commitment to elevating Dubai’s real estate landscape with customer-centric luxury residences in conjunction with development management company Deca Properties. The collective aim is to develop exciting new living experiences across prime locations in Dubai with an existing project pipeline valued at Dhs1.3 billion.