Dubai developer Union Properties (UPP) has announced an AED 1.159 billion ($315 million) project starting at the end of the month, which it says will turn a profit of AED 200 million. The Takaya project overlooking Dubai Autodrome in Motor City, which is is scheduled for competition in October 2027, will include residential towers, villas and commercial space.  (Writing by Imogen Lillywhite; editing by Seban Scaria)

Abu Dhabi developer Aldar has announced an AED 1.75 billion ($476 million) joint venture with Expo City Dubai as part of Expo City’s recently announced development masterplan. The six-building project next to Dubai Exhibition Centre will be developed by the 50:50 JV and will include residential, office and retail space, a bourse filing said. Abu Dhabi Securities Exchange (ADX)-listed Aldar will be responsible for the asset management of the completed development. Last year, Aldar announced a JV with Dubai Holding to develop residential communities and has also announced developing a logistics park with Dubai ports and logistics company DP World, as well as an office project in Dubai International Finance Centre (DIFC).

Leading Dubai developer Binghatti Properties is embarking on a portfolio expansion that will almost double the size of its portfolio within the next 18 months to AED 100 billion, compared to the current AED 40 billion. This comes after Binghatti had recently displayed strong performance in the market in the first half of the year. Muhammad Binghatti, the Chairman of Binghatti Properties, commented recently to the media in Dubai, stating that his company which has recently partnered with global brands including automotive legends Bugatti and Mercedes-Benz, as well as horology and jewelry brand Jacob&Co. is planning to launch 12,000 units within the next three months. This is in tandem with the developer receiving cashflows from projects that will be handed over during the next three…

Binghatti, the leading Emirati real estate developer has signed a sponsorship agreement with Shabab Al Ahli Football Club, one of the UAE's top professional football teams. The sponsorship, will see Binghatti’s logo featured on the club’s team jerseys, with the company becoming the title sponsor for the UAE football club starting from the 2024-2025 season. This partnership highlights Binghatti’s commitment to supporting local youth and sports development. Through this sponsorship, Binghatti aims to empower young talent, providing Shabab Al Ahli with the resources necessary to achieve continued success on both national and international stages. Muhammad Binghatti, Chairman of Binghatti Holding, expressed his enthusiasm: “We are honored to sponsor Shabab Al Ahli,…

UAE-based MAG Lifestyle Development has announced the launch of MAG 777, a AED350 million ($95.2 million) cutting-edge residential tower located in a lakefront setting in Dubai Sports City, which is already 60% complete. MAG 777 combines the tranquility of a serene lakefront setting with the vibrancy of Dubai’s dynamic city life. The development offers easy access to some of the city’s most renowned shopping malls, dining outlets, entertainment venues, medical facilities, and schools, making it a prime choice for both families and professionals. Additionally, the project is in proximity to world-class sports facilities, such as stadiums and golf courses, enhancing its appeal for those seeking an active lifestyle. The 22-storey building offers 261 fully-fitted units,…

Reef Luxury Developments – a pioneering real estate developer based in Dubai – has officially launched, setting its sights on reshaping the emirate’s residential landscape through innovative concepts and community focused projects and introducing the first-of- its- kind ‘Sunken Balcony’ technology transitioning the real estate sector globally. The company has set an ambitious target to unveil 30 projects worth AED14 billion ($3.8 billion) by December 2025. All apartments in Reef properties will come with temperature-controlled sunken balconies, an innovation patented by the developer that allowsresidents to enjoy year-long outdoor living, it stated. Reef Luxury Developments said it has acquired a land bank that will bring 5,000 residential units to the…

Dubai's real estate market recorded total sales worth AED141.9 billion ($38.6 billion) in Q3 2024, setting an all-time high for a single quarter. This eclipsed the previous quarterly sales record of AED124.07 billion in Q2 this year, and represented a 30.1% year-on-year rise in value. A market update issued by fäm Properties reveals there were 50,423 overall sales transactions in Q3, a 37.9% year on year increase in volume and a 16.6% rise on Q2. 39,058 apartment sales The 39,058 apartment sales worth AED70.5 billion represented 77% of the total Q3 transactions, and showed a 43.9% increase in volume on the same period last year. Meanwhile, 8,156 villas sold for AED39.2 billion, a rise in volume of 16.6% over Q3 2023 and an increase of 18.4% on the previous quarter. Rising…

UAE - Samana Developers, an award-winning Dubai-based real estate developer with a growing international portfolio, has unveiled the AED220 million ($60 million) Samana Park Meadows project in Dubai Land Residence Complex in Dubailand.   With a sellable area of 160,461.31 square feet, Samana Park Meadows offers a premium lifestyle and is scheduled for handover in March 2028. The project comprises 221 units spread across 14 floors – studios, one-bedroom and two-bedroom apartments - with all units featuring private pools, resort-style living and high-quality finishes. Unit prices start from AED694,000.   Situated at the crossroads of E66 Dubai-Al Ain Road and E611 Emirates Road, the new project offers easy access to Dubai's sought-after destinations, including city…

  Sofitel, a pioneer of French luxury hospitality, has launched its first branded residences in the UAE, Sofitel Residences Downtown Dubai, introducing 70 residences that feature the combined services of a five-star hotel with the comfort of a home. Launched with Azha Development and Dubai Sotheby’s International Realty, the project is a stone’s throw from Burj Khalifa and Dubai Mall. Sofitel Residences Downtown Dubai provides access to world-class restaurants, cultural attractions, and renowned boutiques. Residents will experience a unique blend of Middle Eastern culture and modern French aesthetics, integrated into every living space.   "As we celebrate the 60th anniversary of the Sofitel brand throughout 2024, this project marks an exciting new chapter for…

Dubai-based Signature Developers has partnered with Devmark, the UAE’s leading real estate project sales and marketing consultancy, for the launch of the branded W Residences Dubai - Jumeirah Lake Towers.   Situated in the heart of Jumeirah Lake Towers - Dubai’s distinguished community known for its dynamic lifestyle - the project marks a significant contribution to the city’s luxury branded residences landscape and will set new standards for extraordinary modern living.   Developed by Signature Developers, The Residences are the latest addition to Marriott International’s W Residences portfolio, epitomising branded luxury living. With over 180 well-designed apartments, each offers a sanctuary of elite comfort, with 360-degree panoramic views…

Amaal, a pioneering real estate developer powered by Ayana Holding, has announced the launch of its debut development, Amaal 8, a high-rise residential project featuring 512 residences spread across 48 levels.   These include one- to four-bedroom apartments and luxurious Infinity Collection residences on the upper floors, each boasting superior quality finishes and thoughtfully planned layouts that epitomise elegance and functionality.   Located in the dynamic Meydan Horizon within MBR City, this mixed-use residential tower will set a new standard for elevated urban living that merges sophisticated design with environmental sustainability and unparalleled comfort, said the developer. Positioned against the tranquil backdrop of the Ras Al Khor Wildlife Sanctuary, Amaal 8…

With initial investments of $600 million RMS Capital Investment, the real estate developing alliance of three partners including an Emirati, Azerbaijani and Turkish companies, announced the launch of their first project from Dubai, which is a new phase of the Verdana project that Reportage Properties is developing in Dubai.   The alliance, which includes Reportage Properties from the UAE, the Turkish Mesa Holding and the Azerbaijani Sabah Investment Group, plans to pump initial investments estimated at $600 million in the three markets. The new move was disclosed at an international press conference held in Dubai this week to announce the future plans of RMS Capital Investment Real Estate, as the new company intends to launch their second project on the shores of the Caspian Sea…