Egypt - PRE Developments has begun the initial delivery phase of the HADABA compound, situated in the 6th of October City, west of Cairo. Hossam Zaki, the Chairperson of PRE Developments’ board of directors, announced that the HADABA project covers 33 feddan and features a variety of villa models, including standalone, twin homes, and townhouses. Zaki noted that HADABA represents the company’s second successful project delivery, succeeding the Stone Residence project in New Cairo, completed in 2021 with over 4,000 units. PRE Developments anticipates the launch of several new projects in 2024, expanding across New Cairo and Sheikh Zayed City, encompassing residential, administrative, and commercial sectors. Since its establishment in 2017, PRE Developments has created…

British architectural firm Foster + Partners has unveiled the designs of two new residential towers - Vela and Vela Viento (Latin for sails and wind) - being set up by Dubai developer Omaniyat as part of its Marasi Bay project. The development employs the same architectural language as The Lana, Dorchester Collection, Dubai, which is also designed by the practice for Omniyat and located on the waterfront nearby. These towers offer its residents ultra-luxury waterfront living with direct access to the waterfront promenade and marina. On the Vela project, Foster + Partners said rising to 150m, it provides a floor area of 272,860 sq. ft. over 30 floors. The 38 residences range in size from 4,253 sq. ft. to 11,727 sq. ft. (internal area) and encompass penthouses and three-and four-bedroom…

Dubai Janob Real Estate has announced launching the fouth phase of “Janob Bay” project, as a response to the high demand from the investors and buyers side to own in this exceptional project. After selling all the limited units offered earlier, the company has worked to accelerate the launch of new phases to this project. And also announced the hiring of ‘Kharafi Constructions’ to build the third, fourth, and fifth phase for a contract worth AED 1.5 billion. It is planned to finish the fourth phase during the first quarter of 2027, as it will contain 3, 4, 5 bedroom villas. And a limited 5, 6, 7 bedroom lux villas. The company have revealed earlier the hiring of ‘Jinko General Contracting’ earlier this year. Who will be handling the construction…

UAE –  Dubai South Properties has awarded an AED 1.50 billion contract to Al Kharafi Construction Company to build the third, fourth, and fifth phases of the South Bay project. The company launched the fourth phase of the project, which is slated for completion in the first quarter (Q1) of 2027, according to a press release. The fourth phase is set to include 138 units comprising three-, four-, and five-bedroom villas and a limited number of five seven-bedroom mansions.   Nabil Al Kindi, CEO of Dubai South Properties, said: “We are confident that the expertise of the appointed contractor will help us realise this project, which will be an ideal option for those seeking quality living with world-class amenities.” “The sell-out of each phase upon…

    Real estate developer Sobha Group on Wednesday said it has set up a second furniture factory by signing a land lease agreement with Dubai Industrial City (DIC) with an investment valued at Dh450 million.   It is located across an 84,000 square metre land plot with a built-up area of 50,000 sqm. The company will manufacture a range of products including sofas, seats, armchairs, chairs, beds, car and airplane seats, assembled and flat-pack cabinets for the local market and for export customers.   The new facility will reinforce the local industrial sector through initiatives such as ‘Make it In the Emirates’.   “Sobha Furniture at Dubai Industrial City will contribute to Dubai’s and the UAE’s manufacturing landscape in the…

To mark a significant sales milestone reached at its upscale development, The Burj Binghatti Jacob & Co. Residences, Dubai-based developer Binghatti has partnered with internationally renowned high jewelry and watchmaking brand Jacob & Co. Almost 50% of the project has sold out in just nine months since sales launch.   There is a growing amount of market anticipation for the opening of this architectural marvel as construction moves forward quickly. According to the statement, the hyper-tower promises to provide an unrivaled living experience that embodies urban luxury with its sleek design, unmatched lifestyle offerings, and panoramic views of the cityscape.   According to the developer, when the 104-story Dubai building is finished, it will be the tallest…

In a landmark real estate deal, Dubai Sotheby's International Realty has successfully brokered the sale of the third most expensive villa in Dubai this year, commanding an impressive selling price of AED148 million ($40.2 million).   Spanning a 80,000 sq ft area, this extraordinary property is located within the Emirates Hills community known for its luxurious residences and exclusive lifestyle.   The 19-bedroom villa, which has a built up area of 55,700 sq ft, is being being handled by agents Leigh Borg and Timothy Ogunniyi.   Dubai Sotheby's International Realty said this sale also ranked as the fourth-highest sale ever achieved in Emirates Hills.   "Notably, this villa stands out not just for its price but also for its grandeur and scale. It boasts the…

Jubail Island Investment Company (JIIC) has unveiled Bada Al Jubail, an exclusive beachfront community featuring luxurious mansions on Jubail Island, at a development value of AED4 billion, spanking over 446,000 square meters of land with 8 kilometres of beach frontage.   Plot areas on Bada Al Jubail will range from 2,000 sqm to 6,000 sqm, with nine typologies of mansions ranging from 1,100 sqm to 3,000 sqm.   Mounir Haidar, Managing Director of JIIC, said, “Following the soft launch of Bada Al Jubail, which received an overwhelmingly positive response, and with the recent handover of the residential units on Jubail Island, homeowners are beginning to appreciate the island's unique value proposition. This is attracting affluent buyers and investors seeking a unique…

Dubai-based Azizi Developments has announced that work is nearing completion on its Creek Views II - a AED350 million ($95.2 million) luxury development located on the shores of Dubai Creek in Dubai Healthcare City - and is scheduled for handover soon.   Strategically located in the most central part of the city, the development comprises 587 residences across 116 studios and 436 one- and 35 two-bedroom units, and features, among other amenities, two swimming pools, a sauna, a steam room, a fully equipped gym, and a children’s play area.   Creek Views II’s unique design represents Dubai’s journey from its traditional past to a modern, reinvented future, stated the developer.   Structure, blockwork, internal plaster, HVAC, tiling works, the swimming…

Launched on Thursday, La Maison Amal is a new super-prime residential project in Dubai’s Al Barari neighborhood that focuses on wellness. This move is expected to cause a stir in the real estate market of the emirate. The five-bedroom home is praised for its ability to combine luxury living with peace, quiet, and well-being. The CEO and founder of Maria Morris Real Estate, Maria Morris, stated that La Maison Amal was introduced in response to the changing needs of contemporary UHNW purchasers who seek experiences beyond conventional luxury. “Recognising the shift towards wellness post-COVID, this [La Maison Amal] home sets a new standard in the world of ultra-luxury living, where every square foot is an embodiment of wellness and health-conscious living, ” he…

Sheikh Zayed Housing Programme has announced that 4,334 decisions were made in 2023 valued at AED3.34 billion. These included 3,015 housing finance decisions at AED2,380,551,000 and 1,025 housing grants at AED682,300,000.   Mohammed Al Mansoori, Director-General of Sheikh Zayed Housing Programme, said that active loan decisions amount to AED17.502 billion, at 90.6%, while the percentage of closed loan files is 9.4%.   Since its establishment in 1999, Sheikh Zayed Housing Programme has committed to enhancing citizens' well-being and the quality of life for Emirati families through sustainable housing solutions. Owing to the future-oriented vision of wise leadership, the Programme has made notable achievements that have touched the lives of thousands of…

In what seems like taking a leaf out of residents’ book, several local and regional companies in Dubai are increasingly making a shift from renting to owning properties amid rising rentals.   This is similar to the trend prevalent among Dubai residents who for the past few years are keen on buying properties in a bid to beat the rising rentals. In fact, this trend has been one of the key drivers of Dubai’s residential property market in the post-pandemic period.   Real estate industry analysts say the trend of companies looking to own properties rather than renting is prevalent in both office and industrial sectors.   Robert Thomas, head of agency at Cushman & Wakefield Core, said: “We particularly see local entities who know that their growth…