Palace Group, a leading luxury contractor and developer in the UAE, has unveiled its new address in Downtown Dubai, thus setting a new standard for premier living.   Perfectly positioned on Dubai Gardens Main Road and neighbouring Eden House, the key development introduces a lifestyle of elegance with 70 residential apartments that radiate style and reflect the vibrant pulse of Downtown Dubai. "The landmark residence boasts state-of-the-art amenities, including a cutting-edge fitness facility, a luxurious spa, a modern business centre, and an engaging kids' club for the little ones," said a company spokesman. "These features support a resplendent urban lifestyle, offering a comprehensive array of services to meet the diverse needs of its residents, making it the ultimate…

Hassana, the investment manager of the Saudi General Organization for Social Insurance (GOSI), has announced a strategic collaboration with Kinan International Real Estate Development Company for investment in an innovative mixed-use real estate project in the capital Riyadh.   Strategically located in the Al Rimal district of Northern Riyadh over a 2 million sq m area, the key project will incorporate residential, educational, healthcare, entertainment, retail, and office spaces alongside other contemporary amenities. This comprehensive, world-class community is designed to meet the evolving requirements of contemporary Saudi lifestyles, it stated. Hassana, which boasts over SAR1.2 trillion ($320 billion) of assets under management, has been making investments on behalf of all…

Omniyat, Dubai’s ultra-luxury real estate leader, has announced a new corporate structure, led by the newly formed Omniyat Group. Omniyat Group, founded as an umbrella to drive success across its branded companies, has set a total group portfolio target of AED100 billion ($22.7 billion) for the next five years. The announcement is a significant milestone for the Omniyat Group, reaffirming its commitment to reshaping the real estate landscape in Dubai and throughout the region. Omniyat will continue to accelerate its growth trajectory, committed to expanding its presence in the ultra-luxury real estate segment, with a total portfolio worth AED50 billion. Executive Chairman Mahdi Amjad founded it in 2005 to revolutionise the Dubai property market by creating unique living…

RAK Properties has launched the “NB Collection” of exclusive high-end villas on Mina Al Arab’s Hayat Island. The NB Collection is situated between Angel Bay’s pristine shoreline and the Nikki Beach Resort and Spa. The 11 villas in the NB Collection blend seamlessly into their beachfront surroundings, creating masterpieces of contemporary architectural flair that combine elegant design with functionality. Sameh Muhtadi, CEO, RAK Properties, said, “This new exclusive high-end villa community represents the height of refined design and offers a serene retreat where residents can fully immerse themselves in the coastal paradise and natural beauty of Ras Al Khaimah.”

W Capital, a Dubai-based real estate brokerage, expects record sales of more than AED 120 billion in the Dubai real estate market during the summer of 2024. According to a press release, real estate sales are expected to increase by 15-20% this summer season, compared to AED 102 billion in 2023. After surpassing AED 400 billion in 2023, the real estate market is expected to see sales of AED 450 billion to 500 billion this year. During the first five months (5M) of 2024, market sales increased by 25.40% to AED 186.87 billion, up from AED 148.96 billion in the same period the previous year. According to Dubai Land Department (DLD) data, there were 65,890 sales transactions between January and May 2024, a 30.30% increase year on year (YoY) from 50,592. The Dubai real estate sector…

Azizi Developments, a leading private developer in the UAE, has announced having sold more than 61% of the units across its released buildings in its luxury mixed-use development, Azizi Venice, located in Dubai South. Azizi Venice will comprise more than 30,000 residential units across approximately 100 apartment complexes, and over 400 luxury villas and mansions. Azizi Developments is taking on the role of master developer, constructing the buildings, roads, and all the infrastructure. Of the total 116 nationalities who purchased units in Venice so far, buyers from the United Arab Emirates made up the largest demographic, followed by investors from the GCC, Europe, UK, India, Pakistan, and more. Mr. Farhad Azizi, Chief Executive Officer of Azizi Developments, said: “We are…

Real Estate Leader OMNIYAT Announces OMNIYAT GROUP to Lead New Ventures targeting AED 100B total portfolio over the next five years OMNIYAT, Dubai’s ultra-luxury real estate leader, has announced a new chapter in its remarkable journey with the unveiling of a new corporate structure led by the newly-formed OMNIYAT GROUP. Founded as an umbrella to drive success across its branded companies, OMNIYAT GROUP has announced an AED 100B total group portfolio target over the next five years and committed AED 50B in portfolio value for new ventures across diversified real estate sectors.   OMNIYAT was founded in 2005 by Executive Chairman Mahdi Amjad, a visionary pioneer in the Dubai real estate sector. Established with the ambition to revolutionize the Dubai property market by…

Qube Development, a renowned international real estate developer with 30 years of experience, has entered the thriving UAE market with a plan to introduce AED2.6 billion ($680.6 million) worth of inventory into the market by the end of 2025.     The developer is committed to set new benchmarks in sustainable and high-quality developments, covering a total GFA of 2,291,946 sq ft in Dubai, it said.   With a strong focus on durability, reliability, sustainability, and exceptional quality, Qube Development honours its commitment by leveraging collaborations with world-renowned architects for all their projects. In partnership with its local contractor, Qube Development ensures meticulous attention to design and construction, a statement said.   Acting swiftly in the…

The German premium bathroom and kitchen manufacturer will equip Riviera, Beach Oasis, Azizi Vista, Azizi Central, Azizi Grand, and Beachfront with high-end accessories    Azizi Developments, a leading private developer in the UAE, has renewed its partnership with Kludi GmbH & Co. The German firm will now supply various projects in MBR City, Dubai Studio City, and Dubai Sports City with brassware and accessories for its apartments and bathrooms. Kludi GmbH & Co. is a sustainable, leading manufacturer of high-end bathroom and kitchen fittings. Kludi RAK LLC caters to the Middle East, South Asia, and Africa with the best European technology and quality-ensuring processes. In his comments, Mr Farhad Azizi, CEO of Azizi Developments, said: “We are thrilled to be…

UAE-based Samana Developers has announced the launch of its key project, Samana Ivy Gardens 2, being set up at an investment of AED855 million ($233 million) in the Dubai Land Residence Complex within the Dubailand neighbourhood.   Spanning over a 1.5 million sq ft area, the key residential development features several key amenities including private pools, smart homes, gym, a steam and sauna room as well as a kids’ pool, a jogging track and a basketball court. It will also house a leisure pool deck, a barbeque area, a basketball court, table tennis, a cabana area, a shower area, and an aquatic gym. The Samana Ivy Gardens 2 boasts a climate-resilient design and features plenty of plantation to moderate the hot weather and has private pools in every apartment. The 35-storey…

AQUA Properties has announced a significant milestone with the sale of over 900 units in its latest project, The Central Downtown, within just 100 days of its launch.   Demonstrating the robust demand for premium real estate in Dubai, The Central Downtown topped the charts in May, capturing an impressive 40.5% of all transactions in Arjan, according to Property Monitor.   Centrally located in Arjan, the project spreads over a sprawling 7-acre hub, making it the largest development in the community. The Central Downtown comprises four towers offering modern studios, and 1-3-bedroom apartments, featuring a 200,000 sq ft podium level with over 25 amenities. Residents will enjoy a golf simulator, wave pool, basketball court, outdoor cinema, padel tennis, and organic farm among…

Azizi Developments, a leading private developer in the UAE, has extended its collaboration with Xylem, the leading manufacturer of pumps, valves, heat exchangers and accessories for plumbing, wastewater, and HVAC. Xylem will now also supply Azizi’s fourth phase in Riviera, situated in MBR City, as well as Vista and Beach Oasis in Dubai Studio City, with the most technologically advanced, high-quality transfer-, booster-, and chilled-water pumps and sump pumps. Xylem is a prominent, highly accredited global brand for applied-water systems, providing an extensive selection of energy-efficient pumps, boosters, drives, valves, heat exchangers, controllers, and water systems for numerous applications in building services. In his comments, Mr. Farhad Azizi, CEO of Azizi Developments,…