UAE - SOL Properties launched a series of high-end projects with an anticipated gross development value (GDV) of AED 12 billion in the next six months, according to a press release.   The development schemes are expected to anchor the UAE real estate market, reflecting new standards for luxury and efficiency, while contributing to the Gulf country’s overall economic growth.   SOL Properties, a leading real estate developer in the UAE and the premier real estate development arm of the Bhatia Group, has acquired 4 million sq. ft. of prime land for ultra-luxury projects and affordable luxury projects.   They include a new esteemed project in the West Crescent of Palm Jumeirah and the prestigious Fairmont Residences Solara Tower Downtown Dubai at a combined value of…

The Dubai-based developer behind the $204 million Bugatti-branded penthouse is looking into tokenising real estate purchases to allow investors with as little as AED 500 to access the market.   Muhammad BinGhatti, chairman of developer BinGhatti, said at the Sharjah Investment Forum that the company had started accepting cryptocurrency payments in 2021, and took AED 500 million ($136 million) in payments in digital currencies within the first nine months.   He said the organisation is now “toying with” tokenising real estate, to allow anyone, regardless of their wealth, to access the real estate market. “We are working on as organisation, tokenising real estate to be able to trade it in a similar fashion as the stock market,” he said.   He…

The biggest real estate developer in Dubai has disclosed intentions to challenge one of its own largest projects. Arabian Business reports claim that Emaar plans to construct a massive structure that will be able to compete with the Burj Khalifa in height. When completed, the tower will surpass current planned projects like the Burj Azizi to become the second-tallest building in the world. When completed, the 725-meter Burj Azizi will stand just over 100 meters short of the 828-meter Burj Khalifa on Sheikh Zayed Road. Four very intriguing and very different designs have been considered, including a glass-tube sculpture, a rocket-shaped tower, and a design that uses gothic spires, even though the exact height and location have not yet been disclosed. Although there are plans for…

Nine Yards Real Estate Development, a subsidiary of EIH Ethmar International Holding, has appointed Züblin Construction as the main contractor for the Yas Bay ‘Sea La Vie’ project, on Yas Island, Abu Dhabi.   With 125 years of experience in the construction industry globally and 41 years locally, Züblin is recognised as one of the top general contractors in the UAE, renowned for delivering exceptional projects. With a broad-ranging expertise in construction, the company offers comprehensive services across various sectors, including turnkey building construction and infrastructure, said a statement.   The appointment of Züblin ensures showcasing EIH’s consistent dedication to the highest standards of quality and project execution, it…

UAE - SOL Properties, a leading real estate developer in the UAE and the premier real estate development arm of the Bhatia Group, has announced plans to launch a series of high-end projects with an anticipated gross development value (GDV) of AED12 billion ($3.27 billion) in the next six months. These projects are expected to significantly impact the UAE real estate market, setting new standards for luxury and efficiency, while contributing to the country’s overall economic growth, said the company. The ambitious expansion builds on the 50-year legacy of the Bhatia Group in the UAE. The company is a pioneering force in Dubai’s property development and construction sector, driven by the vision of Ajay Bhatia, Chairman of Bhatia General Contracting, and Founder and CEO of SOL…

Meraas, a member of Dubai Holding Real Estate, has awarded an AED850 million ($231.42 million) contract for construction work of the Bvlgari Lighthouse on Jumeira Bay Island to Dutco Construction Co.   With marine works now completed on this section of Jumeira Bay Island, construction will soon commence on the 27-storey luxury residential tower. Designed by world-renowned architecture firm Antonio Citterio Patricia Viel, Bvlgari Lighthouse is set to become one of the city’s most prestigious addresses and an exquisite highlight of the island.   Inspired by the timeless elegance and luxury of the Italian jeweller, Bvlgari Lighthouse comprises four and five-bedroom luxury penthouses. Additionally, it will feature a one-of-a-kind eight-bedroom Sky Villa crowning its top…

Reno, the all-in-one interior design and renovation platform for residential and commercial projects, has launched in the UAE.   Reno is the first solution of its kind in the region, offering a flexible financing option for renovation projects, it said.   The platform is accessed through the Reno app, which combines technological innovation with human expertise. It connects end users – whether that be businesses or consumers – to a network of leading interior designers, seasoned project managers and trusted contractors, for a seamless and straightforward end-to-end renovation experience, it said. From initial design to project delivery, every step of the renovation process can be tracked and managed via the Reno app. Ultimately, Reno ensures quality craftsmanship…

UAE - Azizi Developments, a leading private developer, has partnered with Dubai’s Multiplast, which offers a diverse range of plastic products and solutions, for the supply of high-end PVC conduits across various projects. The projects include those in Dubai South, MBR City, Dubai Studio City, Al Furjan, Dubai Sports City, and Dubai Healthcare City, including Azizi Venice, Riviera, Azizi Vista, Azizi Central, Azizi Grand and Creek Views III.   Multiplast’s product range features PVC conduits for electrical installations, custom packaging solutions, and durable plastic components for construction and manufacturing. Using advanced technology, Multiplast tailors its solutions to meet client needs while maintaining a strong focus on sustainability. The company is committed…

LONDON - British property surveyors expect sales to continue to grow in the coming months after a gauge of house prices turned positive for the first time in nearly two years, though concerns remained about affordability despite easing borrowing costs. The Royal Institution of Chartered Surveyors said on Thursday that its main house price balance, which measures the difference between surveyors seeing falls and rises in house prices, moved into positive territory for the first time since October 2022. Its house price balance rose to +1 in August from -18 in July, and well above the -14 forecast by economists in a Reuters poll. A measure of expected sales over the next three months was the strongest since January 2020, before the COVID-19 pandemic struck Britain. Other indicators of…

Dubai’s real estate sector sees a positive outlook in the 2024/2025 business season, with strong sales figures, increasing property values, and the rapid absorption of new inventory expected to drive continued expansion. Analysts at Elite Merit Real Estate also project sustained growth in the overall UAE real estate market, underpinned by robust demand across multiple sectors, a significant influx of new property developments, and the integration of advanced technologies. This growth is expected to be supported by both domestic and international investors, reflecting the market's resilience and strategic importance in the region. Market performance and trends Dubai's real estate market is on track for another strong year in 2024, with record sales volumes and values. In July…

DUBAI - Dubai South Properties has announced the appointment of Al Turath Al Aseel Contracting for an AED150 million contract towards the construction of South Living Tower, a luxury apartment development at The Residential District in Dubai South. The project was launched in June this year with an attractive post-handover payment plan, following the huge demand for spacious apartments in Dubai South. The project is expected to be completed by Q1 2027 and will feature 209 units, including studios, 1-, 2-, and 3-bedroom apartments. Nabil Al Kindi, CEO of Dubai South Properties, said, "The demand for residential apartments at Dubai South has been steadily growing over the past few years. Following the announcement of the new passenger terminals at Al Maktoum International Airport in…

UAE - Sankari, a premier luxury real estate developer in Dubai, has announced a partnership with IHG Hotels & Resorts, one of the world’s leading hospitality companies, to launch the world’s first Regent Residences in Dubai. This twin-tower flagship development, Regent Residences Dubai - Sankari Place, will be located in Dubai’s prestigious Marasi Marina neighbourhood and will feature 63 full-floor upper luxury residences as well as 10 floating homes, said a statement. Expansive living spaces Each of the Regent Residences Dubai - Sankari Place's residences are equipped with a private swimming pool and expansive outdoor living spaces. The architectural design, conceived by Foster + Partners, reflects opulent living with a cascading twin-tower structure. Residents…