Almal Real Estate Development, a Dubai-based developer of luxury residential projects, recently broke ground for its second project after the award-winning Harrisoni La Mer luxury villas. The $280 million 'The Unexpected Al Marjan Island Hotel and Residences', located on Al Marjan Island in the emirate of Ras Al Khaimah (RAK), is anticipated to be ready in two years.   Almal Real Estate Development's Founder Dmitriy Starovoitov said the land for the Al Marjan project was acquired in 2023.   He told Zawya Projects that the choice of Ras Al Khaimah for the 422-key luxury hotel and residences project was a strategic decision rooted in the evolving dynamics of the UAE real estate sector.   "While Dubai has traditionally dominated, Ras Al Khaimah is emerging as a key…

Abu Dhabi developer Aldar Properties has announced the sale of more than 660 units at Verdes by Haven - the apartment residence within the Haven by Aldar masterplan in Dubai – within 72 hours of its launch.   Haven by Aldar is the company’s first development in Dubai in partnership with Dubai Holding. Announcing the key achievement, Aldar said it had generated over AED1 billion ($272 million) through its sales events. Construction work on the project is set to begin somewhere in the first quarter of 2025, it stated. The Abu Dhabi developer pointed out that expats and overseas buyers make up 83% of sales, with Indian, Egyptian and British passport holders representing the top three international markets by sales volume. The development also had strong uptake from UAE…

According to a report by Ajman's Land and Real Estate Regulatory Department, these transactions were distributed as follows: 2,039 transactions for citizens, totalling AED2.98 billion, and 5,139 transactions for foreign investors, totalling AED6.048 billion, reflecting an impressive 88 percent growth. Sheikh Abdulaziz bin Humaid Al Nuaimi, Chairman of the Department of Land and Real Estate Regulation in Ajman, highlighted the emirate's significant achievements across various sectors. He emphasised that the real estate sector's alignment with Ajman's continuous development and economic progress, attributing this success to the wise vision of H.H. Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, and the diligent efforts of H.H. Sheikh Ammar bin Humaid Al…

UAE - Marjan, the master developer of freehold properties in Ras Al Khaimah (RAK), has announced the launch of La Mer by ELIE SAAB, the first ELIE SAAB branded residences at the premium destination.   The iconic waterfront property with interiors designed by Elie Saab, will be developed by UAE based ARTE Developments at Al Marjan Island. The landmark property boasts a unique design that provides world-class amenities and unique views, reflective of the premium location and the signature ELIE SAAB style. Constituting three towers connected by an intricate design with a dual lobby and multiple on-site facilities, the exclusive La Mer by ELIE SAAB at Al Marjan Island is bound to elevate the lifestyle of the neighbourhood. Timeless elegance Abdulla Al Abdouli, Chief Executive…

Reportage Properties, the UAE leading real estate developer, headquartered in Abu Dhabi, signed an agreement with Empire Holding Pakistan, the leading residential and commercial real estate company based in Lahore, Pakistan, to launch a joint venture in the booming Pakistani real estate market. The signing ceremony took place during a special event organized by Reportage Properties, on the sidelines of a special sales day on Sunday, June 30, 2024 at the Yas Hilton Hotel in Abu Dhabi. Andrea Nucera, Managing Director signed the agreement on behalf of Reportage Properties, with Faisal Iftikhar, Managing Director of Empire Holding Pakistan. Based on this agreement, which aims to enhance cooperation between the two companies, a new company with the name “Reportage Empire…

Reportage Properties is organizing a special sales event on Sunday, June 30, at the Hilton Yas Hotel in Abu Dhabi. The event will feature exclusive offers on the company's local and international projects, presenting attendees with significant investment opportunities within the UAE and abroad.   Reportage Real Estate reaffirms its commitment to providing special offers and discounts across all projects to meet the expectations of buyers and investors, both domestically and internationally. These initiatives are expected to drive sales for all of the company's projects in the UAE and overseas.   Reportage Projects   Reportage's portfolio comprises 35 projects located in the UAE, Egypt, Turkey, Morocco, and Saudi Arabia.   Last year, Reportage completed the…

RAK Properties today launched the “NB Collection” of exclusive high-end villas situated on Mina Al Arab’s Hayat Island.   NB Collection is located between the pristine shoreline of Angel Bay and Nikki Beach Resort and Spa.   Blending seamlessly with their beachfront surroundings, the 11 villas in the NB Collection are masterpieces of contemporary architectural flair, uniting 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."

Construction Week magazine, the specialized news platform for the construction and contracting sector in the Middle East, has ranked Andrea Nucera, Managing Director of Reportage Properties, on the 2024 list of the 150 most powerful and influential figures in the construction and building sector in the Middle East. Andrea Nucera is one of the prominent leaders in the real estate sector in the UAE and the region. He held his current position since Reportage Properties was established in 2014. Thanks to his extensive experience in the real estate field, Nucera led Reportage Properties to expand and launch many distinguished projects inside and outside the UAE, as Reportage Properties’ portfolio includes 35 projects in the Emirates, Egypt, Turkey, Morocco and Saudi Arabia. Recently,…

AJMAN - The Department of Land and Real Estate Regulation in Ajman will launch the building classification process in the emirate starting July 1st, 2024.   The process will continue for three months and will be carried out by a team of specialised and qualified professionals. This will closely examine the readiness of buildings and real estate facilities and their compliance with standards and regulations. Omar Al Muhairi, Director General of the Department, affirmed the criteria are ready to classify buildings according to international standards and specifications. This classification will ensure the quality of services, and facilitate investors regarding their investment decisions and options related to renting or purchasing any property in the emirate of Ajman. Al Muhairi…

Department of Land and Real Estate Regulation in Ajman completed 169 real estate valuation processes during May 2024 with a total value exceeding AED729.5 million. Ahmed Khalfan Al Shamsi, Director of Real Estate Registration, explained that the valuation covered commercial, residential, industrial, and agricultural units, with commercial property accounting for the largest share, AED437.2 million, up 197% compared to April 2024 and surpassing industrial properties, which had a total value of AED148.45 million.   Al Shamsi pointed out that the May report included individual valuation transactions, valuations for courts and institutions, and valuations for long-term golden residency visas for investors, which numbered 142 processes and exceeded AED334 million in total value,…

The Sharjah Investment and Development Authority (Shurooq) has announced the soft opening of the first phase of the "Najd Al Meqsar" project. Managed by the Sharjah Collection, this project stands as a premier luxury hospitality and heritage tourism destination in Khorfakkan, located in the eastern region of the Emirate of Sharjah.   Phase 1 of the project boasts features that promise an immersive and enriching experience for local guests and international visitors. Accommodations include 7 meticulously restored units within a house that is over 100 years old, each offering breathtaking mountain views. Situated on 17,210 m² offering a glimpse into the past alongside facilities and attractions, including a restaurant, reception area, and a trail to the iconic 300-year-old Al…

According to the “Real Estate Transactions Movement” report issued by Sharjah Real Estate Registration Department, the trading volume of real estate transactions in the emirate reached AED 4 billion during May 2024. It is a noticeable increase compared to the previous month (April), which recorded a trading volume of AED 1.7 billion, and this shows the constant monthly growth in this sector in Sharjah. The report also presented the total real estate transactions, which reached 9,454, with sales transactions covering 13.3 million square feet during the same period.   A perfect real estate environment Over the past years, the real estate market in Sharjah has witnessed a remarkable development and a continuous prosperity, making it at the heart of the real estate map in…