Palma Development, a real-estate developer, has announced the launch of Serenia District, a Dh5bn ($1.36bn) upscale residential community in Jumeirah Islands, Dubai, United Arab Emirates (UAE).

In another landmark deal in Dubai’s booming real estate market, a residential plot of land has been sold for Dh182 million (approximately $50 million) on the Jumeirah Bay Island. The prime land plot, ...