MGS Development, a renowned real estate company, has announced the launch of a new phase of the Edgewater Residences, an exclusive waterfront development located in the serene Dubai Islands. Nestled within the iconic Dubai Islands, the development offers residents access to 40km of new coastline, 21km of sandy beaches, nine exclusive marinas, 80 world-class hotels, a championship golf course and ultra-luxury villas. MGS Development has partnered with Ayenk, a Miami-based architectural firm known for its expertise in luxury waterfront design. Together, they have created a masterpiece that perfectly balances elegance and functionality. For this project, Metropolitan Premium Properties, the flagship property company of the Metropolitan Group, is the exclusive sales and marketing…

Dubai real estate prices fell by 0.57% in January 2025 – the first decline since summer 2022 – signalling a market shift towards stabilisation, according to leading real estate intelligence authority Property Monitor. While the first month of 2025 was the strongest January on record for transactions with 14,413 sales, average prices dropped to AED1,484 per sq ft. Sales volumes were down 4.6% compared to December 2024, stated Property Monitor in its monthly market report. Off plan launches continued to soar in January, with 53 launches from 37 developers bringing another 12,400 units to the market. Mortgage transactions also rose 6.8% month on month, with 4,134 loans secured. Loan to value (LTV) ratios also held steady despite stricter enforcement of UAE Central Bank…

Soho, a lifestyle brand specialising in creating hospitality-inspired living spaces, has appointed New System Engineering (NSE) as the main contractor for The Berkeley, its premium residential project in Dubai Hills Estate. The appointment marks a significant milestone in the development’s timeline, moving the highly anticipated project closer to groundbreaking in the coming weeks, said the developer in a statement. With 90% of units already sold, The Berkeley has seen overwhelming demand, reinforcing SOHO’s reputation for delivering high-quality, hospitality-inspired residences, it added. Soho CEO Sahil Khosla said: "Appointing NSE as our main contractor is a significant step forward as we bring The Berkeley to life. Their proven track record in delivering high-end…

UAE-based Damac Properties is showcasing some of its prime luxury waterfront projects - such as the Couture by Cavalli, Damac Bay and Damac Bay 2 - at the ongoing Dubai International Boat Show, a premier yachting and luxury lifestyle event, being held at Dubai Harbour. A leading luxury real estate developer based in UAE, Damac said these developments set an elevated benchmark for seafront living in Dubai’s most sought-after maritime destinations thanks to their prime locations. These projects not only offer homes but also high-end experiential-seaside living to its residents, it added. Designed for a discerning clientele who appreciate architectural excellence and the allure of waterfront living, these projects reflect Damac’s vision of integrating luxury real estate with…

Dubai’s reputation as a magnet for luxury living and exclusivity continues to soar as international football star Aymeric Laporte becomes the latest global icon to acquire a luxury penthouse in the iconic Bugatti Residences by Binghatti. Laporte is the third international celebrity to own a penthouse in Bugatti Residences by Binghatti, following legendary global opera singer Andrea Bocelli and the world famous football star Neymar Jr..   Laporte, a professional footballer who plays as a centre-back for Saudi Pro League club Al-Nassr and the Spain national team, is celebrated for his exceptional defensive skills, leadership, and composure on the field.   Bugatti Residences by Binghatti, the world’s first and only Bugatti-branded residential development, hosts some…

Amwaj Development, a key real estate developer in the UAE, has announced an official collaboration with Octa Properties for a luxurious new project in Meydan’s District 11, which will be Dubai’s first-ever low-rise, lagoon-facing development. The new five-floor project offers its residents a choice of one- and two-bedroom apartments along with other key amenities such as top retail spots, chic cafés and much more. This is the third project to be developed by Amwaj Development in Meydan after the successful launches of Starlight Park and The Cube Residences. It will also feature a luxurious roof terrace and swimming pool with spectacular views facing the lagoon, stated senior company officials at the official signing ceremony. The exclusive park-facing community…

UAE-based Reef Luxury Developments has broken ground on its key project - Reef 1000 - located in the heart of Dubai Land Residential Complex (DLRC), featuring a first-of-its-kind Sunken Balcony with outdoor cooling, thus laying the foundation for a visionary development that seamlessly aligns with Dubai’s vision for innovation. The groundbreaking ceremony included the planting of the first olive tree, symbolizing Reef 1000’s commitment to sustainability and longevity. It is the first of 126 olive trees that will be part of Reef 1000, highlighting a strong connection to nature and timeless value to the project, said the developer. Reef 1000 is introducing a world-first feature—the patented Sunken Balcony with Outdoor Cooling. This groundbreaking technology transforms…

Cheval Collection’s latest property in the Middle East, Cheval Maison – Expo City Dubai, is set to open in March 2025 with 151 luxurious, serviced apartments and a host of top-flight business and leisure amenities. One of the award-winning, UK-based hospitality brand’s largest properties, Cheval Maison – Expo City Dubai is a reimagining of the showpiece Leadership Pavilion that hosted world leaders during Expo 2020 and Cop28. The prestigious building, which has been extensively refurbished, is located alongside the iconic Al Wasl Plaza, five minutes’ walk from the Expo City Metro station. Its opening will mark a key milestone in Cheval Collection’s Middle East expansion, which includes more properties in the UAE and a move into Saudi Arabia. The…

Emaar Properties registered a 72% year-on-year (YoY) surge in property sales to AED 70 billion ($19 billion) in 2024, the highest ever it said. Revenues reached an all-time high of AED 35.5 billion in 2024, a 33% increase YoY, bolstered by record property sales, the Dubai-listed company said. The group’s revenue backlog from property sales surpassed AED 110 billion as of December 31, 2024, rising 55% from 2023, which indicated “robust revenue growth for the coming years”. Net profit attributable rose 16% to AED 13.51 billion in 2024 compared to AED 11.64 billion in 2023. Emaar acquired 141 million square feet of development land in a prime area in Dubai with a total development value of AED 96 billion. Last December, the company announced a new dividend policy and…

UAE-based Kasco Developments, the real estate arm of the Kasco Group, said it has partnered with Evolutions, a leading real estate intelligence hub, for official launch of Volna, its third residential project in Dubai. Following the success of Onda and VAL, this new development further strengthens Kasco’s presence in the UAE property market since its debut in September 2024, said a statement from the UAE group. Strategically located along Al Jaddaf Waterfront, Volna is an 11-floor residential building featuring 65 meticulously designed homes. The project offers a diverse selection of residences, including studios (up to 912 sqft), one-bedroom apartments (up to 1,480 sq ft), two-bedroom apartments (up to 1,620 sqft), and three-bedroom apartments (up to 3,407 sqft). Designed to…

Doha: Dubai’s real estate market has made a strong start to 2025, with property sales in January totalling AED44.4bn, a 24.1% increase in value on the same month last year. A market update issued today by fäm Properties reveals that last month’s total of 14,236 transactions also represented a 23.2% increase in volume over January 2024. Land sales for January showed the biggest increase, with 811 plots - a 151.9% month-on-month leap in volume - selling for AED8.6bn. Villa sales totalling AED16.4 billion also climbed sharply in volume by 89.6% to 3,117 compared with January last year, and apartment sales worth AED18.2bn were up 7.1% in volume to 9,945. A total of 363 commercial property transactions amounting to AED1.2bn represented a 17.9% increase in volume over…

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, reviewed the progress of the Sheikh Rashid Bin Mohammed Bin Rashid Al Maktoum Housing Project for Citizens in the Wadi Al Amardi area in Dubai. The project features 672 villas under construction at a total cost of AED1.4 billion, in addition to endowment markets, a mosque, a public park, and service facilities designed to meet the needs of Emirati families. The new residential project is directly overseen by H.H. Sheikha Hind bint Maktoum bin Juma Al Maktoum, wife of H.H. Sheikh Mohammed bin Rashid Al Maktoum. It was named in memory of the late Sheikh Rashid bin Mohammed bin Rashid Al Maktoum. The project supports the Sheikha Hind bint Maktoum Family Programme, launched by her to…