Palma Holding

Palma Holding is a privately owned Dubai real estate group whose history dates to 1998. Its activities cover property development, sales and leasing, community management and related real estate services, with much of its work concentrated in established premium locations across the city. The group states that it has completed more than 6 million sq ft of property with a combined value exceeding AED 16 billion.

Property development is carried out through Palma Development, while the wider group also operates Palma Real Estate and Palma Communities. This structure allows the business to remain involved beyond construction, particularly through sales, leasing and the ongoing management of completed residential communities.

Kareem Derbas is Founder and CEO of Palma Holding and Palma Development. His background includes management consulting and professional services before moving into Dubai real estate, and he has led the development business for more than two decades. Palma Development itself identifies 2002 as its establishment year, while Palma Holding traces the broader group history to 1998.

Dubai Marina played an important role in Palma’s early growth. La Residencia Del Mar was its first freehold residential project, followed by Silverene Towers, a waterfront development designed by architect Hazel Wong. These projects established a design led approach based on prime locations, larger residences and long term involvement with the communities after completion.

The company later expanded its residential activity to Palm Jumeirah through Serenia Residences The Palm. Completed in 2018, the beachfront community became the foundation for the wider Serenia identity that now forms a major part of Palma Development’s current strategy.

Olivara Residences & Park added a different type of residential environment in Dubai Studio City. Completed in 2020, the low rise community is arranged around landscaped open space rather than the waterfront tower format associated with several earlier Palma projects.

This relatively selective approach remains characteristic of Palma Holding Dubai. The company does not release a large number of developments every year. Instead, its activity has generally centred on a smaller collection of substantial projects in established or strategically important locations.

Palma Holding Projects in Dubai

Palma Holding projects in Dubai currently centre on the Serenia brand. The most significant recent completion is Serenia Living on Palm Jumeirah, which followed Serenia Residences and marked a considerable increase in scale for the company’s beachfront activity.

Serenia Living reached completion in 2026. By June, Palma Development confirmed that the majority of owners had already taken over their homes, moving the project from off plan construction into the completed Palm Jumeirah market.

The focus has now shifted towards Serenia District in Jumeirah Islands. Launched as an AED 5 billion masterplanned community, the scheme represents a notable change for Palma. Rather than a single residential tower or beachfront complex, Serenia District is planned as six integrated towers connected by landscaped spaces, wellness areas and community facilities. Japanese architectural principles and climate responsive planning influence the wider design.

West Residence forms the first phase. Main contractor Khansaheb Civil Engineering was appointed in late 2025, and by June 2026 foundation works had been completed and main construction was progressing. Palma currently gives the first tower a 2028 completion target.

The second phase expands the community through the East Residences. East Residence 2, East Residence 3 and East Residence 4 are now part of Palma Development’s active sales and construction programme, with the wider eastern phase extending Serenia District’s delivery timeline towards 2030.

This makes Serenia District the clearest current option within Palma Holding off plan projects. Buyers comparing it with other off plan projects in Dubai are looking at a company with an established delivery record rather than a newly formed developer entering the market for the first time.

Completed Palma Holding properties also remain relevant in the secondary and rental markets. Silverene Towers continues to be associated with Dubai Marina waterfront living, Olivara has an established leasing community in Dubai Studio City, and the Serenia developments have created a growing premium residential presence on Palm Jumeirah.

Palma Holding’s current direction is therefore less about rapid geographic expansion and more about building on the identity created through its earlier Dubai projects. Serenia Living has moved into its completed phase, while Serenia District is carrying the company into a larger masterplanned format at Jumeirah Islands. That progression connects more than two decades of Dubai development experience with its current off plan pipeline.