Palma Development

Company profile

Palma Development is the development arm of Palma Holding, an owner-led Dubai company. Alongside development it runs a brokerage and Palma Communities, which handles community and property management — including in its own schemes.

The company builds few but large projects, mostly on the water: the Silverene Towers in Dubai Marina (completed 2011, two towers of 35 and 26 storeys), Serenia Residences on the East Crescent of Palm Jumeirah and Serenia Living on the West Crescent. According to the company, Serenia Living was completed in February 2026 and handovers began that spring; the scheme comprises 226 homes.

Serenia District at Jumeirah Islands is the current undertaking: six buildings on more than 600,000 square feet of land, some 3.5 million square feet of built-up area, put by the company at a development value of around five billion dirhams. For the first phase, West Residence, the company reports completed foundation works and has appointed Khansaheb Civil Engineering, an established main contractor.

One thing sets it apart from many competitors: Palma keeps part of its stock. The Silverene Towers sit in its own portfolio and are run by its own management arm. If you depend on functioning management after handover, that is a longer trail than a pure seller offers. This too rests on company statements.

What to watch

No developer comes without reservations. These apply across all of this company’s schemes.

• Almost everything on this page comes from the company itself — its own website and press releases that the trade press also picks up. Palma is not listed; independently verified figures are scarce.
• Even the founding year is not settled: the website says 1998, a press release from the same company says 2002. A small thing — but an indication of how precisely to take self-reported detail.
• The Dubai Land Department’s open developer register (2,348 entries, as of 1 September 2026) holds no entry under „Palma Development" or „Palma Holding"; it does list a „Palma Homes Real Estate Development L.L.C.". Whether that is the same group cannot be read from the data, and the dataset is not demonstrably complete. Treat this not as a defect but as a task: before you reserve, ask to see the project registration and the escrow account.
• For Serenia District the DLD project register names Nakheel as developer and shows „not started, 0 per cent" as of 15 June 2026, while the company reports completed foundation works. Both can be true — Nakheel is the area’s master developer, and register entries lag. It can only be checked at the project itself: register number, escrow account, construction progress.
• Few large projects also means little spread. If one scheme slips, it affects a larger share of the company than it would at a developer running twenty sites at once.

Sources

The statements above come from these public sources, not from the developer’s own sales material.

• Palma Holding — About Us (Unternehmensangabe)
• Arabian Business — Palma completes $1.82bn Serenia Living project on Dubai’s Palm Jumeirah
• Zawya — Palma Development advances construction milestones across Serenia District (Presseerklärung)
• Dubai Land Department — Entwicklerregister, offener Datensatz (Stand 01.09.2026)
• Dubai Land Department — Projektabfrage

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