A set of new luxury residences have been handed over to owners in Dubai.

The lavish homes, on Dubai’s Palm Jumeirah in the Kempinski Hotel Residences section, will add to the surplus of high-end apartments in the emirate.

The property has been built by a leading Dubai-based Ukrainian property developer.

Many of the 240 residential units were sold as part of the US$500 million project at the peak of Dubai’s property boom between 2007 and 2008.