According to Ahmed Baghoum, CEO of Masdar City, there are projects targeting vital industries like energy, artificial intelligence, space exploration, life sciences, and agriculture that are currently in the design phase and have an investment cost of Dh3–4 billion.   Speaking on the sidelines of the opening day of the World Future Energy Summit, which Abu Dhabi Future Energy Company (Masdar) is hosting, Bakhoum said that the projects currently being built at the city are expected to be worth a total of about Dh1 billion. These projects include “The Link,” which is expected to be completed in the middle of 2025, and the Masdar City Complex.   He stressed that Masdar City is currently focusing on vital sectors including energy, AI, space, the life sciences…

At 160 meters high, the mixed-use Infinity Tower has seen more than 70% of its construction completed, according to Infinity Towers for Urban Development. This substantial advancement exceeds the timetable established by the Administrative Capital for Urban Development. This significant event coincides with the start of President Abdel Fattah Al-Sisi’s second term in office and the first phase of the New Administrative Capital (NAC). Infinity Tower, which stands in the center of the NAC’s Central Business District (CBD), is a shining example of sustainability and modernity. Founder and Managing Director Assaad Salama disclosed that the tower’s design was a result of cooperation with the well-known Canadian company NORR Group. This collaboration has produced a…

According to industry insiders and recent research, the first quarter of 2024 saw a significant shift in investment trends in Dubai’s residential real estate sector, with Indians once again overtaking British investors as the most popular nationality. Apart from Indians, Americans are also becoming interested in Dubai’s real estate market. They, along with other major investor groups like British and Russians, are driving up demand, which in turn is driving up property values and rentals, especially in the luxury market. Along with other reasons like rising end-user demand and alluring investment yields in Dubai’s housing sector, the 5-year multiple-visit visa facility is cited as the main driver of the Indian investment boom. “The 5-year multiple visit visa has…

UAE-based Al Habtoor Group said it has achieved a major milestone in the construction of its iconic 87-floor tower at Al Habtoor City, Dubai, with more than 23% of the work completed in addition to the piling phase.   Located in the prime area of Sheikh Zayed Road, on the picturesque banks of the Dubai Water Canal and in proximity to the Burj Khalifa and Dubai International Financial Centre (DIFC), Al Habtoor Tower is witnessing rapid development.   This progress underscores Al Habtoor Group's commitment to delivering unparalleled luxury and innovation, building on decades of experience and the successful development of iconic projects such as Burj Al Arab, Dubai International Airport Terminals, and the Armed Forces Officers Club in Abu Dhabi, said the Emirati group in a…

  Istanbul - ELIE SAAB, one of the World’s leading names in Haute Couture and esteemed luxury lifestyle brand and TOR HOLDING, a Turkish real estate developer known for its innovative projects and global collaborations, announce their partnership for the launch of two real estate projects in Turkey.   The collaboration marks a significant milestone in Turkey’s real estate sector, as the local luxury segment is undergoing a dynamic evolution with the presence of more joint partnerships combining international expertise with innovative regional approaches. The partnership aims to redefine luxury living in Turkey by blending Tor Holding’s expertise in property development with ELIE SAAB’s iconic design heritage.   The two ELIE SAAB branded…

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…