UAE-based leading developer Omniyat has officially announced the launch of The Alba, an AED7 billion ($1.9 billion) architectural masterpiece in Dubai designed by Zaha Hadid Architects (ZHA). Unveiled in front of a select group of VVIP customers during the recent Monaco Yacht Show, The Alba is being dubbed by Omniyat as the world's first premium garden retreat by the sea. Located on the Eastern Crescent of Dubai’s iconic Palm Jumeirah, it will provide private sanctuaries, offering uninterrupted views of Dubai Marina, Burj Al Arab and Burj Khalifa, said a statement from Omniyat. The Alba, Dorchester Collection, Dubai elevates luxury living, representing Omniyat’s boundless vision through a seamless blend of beachfront hospitality and ultra luxury residential experiences. It…

UAE - Luxury real estate developer AMIS has awarded the main construction contract for its AED425 million ($115 million) Woodland Residences project to Dar Al Aayan Contracting. The project, located within the District 11 of Meydan in Dubai, is scheduled for handover in April 2026. The development, which was 100% sold out within one week of its launch in January 2024, is located 12 minutes away from Downtown Dubai, and offers a 100-m swimmable lagoon reserved exclusively for residents. “We are thrilled to appoint one of the top contractors for this prestigious project,” said Neeraj Mishra, Founder and CEO of AMIS Properties. “With the exceptional cash flow from our quick sell-out, we are on track with our project milestones. The Woodland Residences is a testament to…

Al-Futtaim Real Estate, one of the region’s only private master developers with 60-years of experience as part of Al-Futtaim Group, has announced the launch of Al Badia Living in Dubai Festival City. This premium lifestyle community marks a new chapter for the area, positioning it as a top destination for living, working, and playing.   Al Badia Living offers over 340 generously sized and superbly appointed residential units, including one-to-four-bedroom apartments. With views of Al Badia golf course, Dubai Creek and Burj Khalifa, the development caters to singles, couples, and families, featuring resort-style amenities that set it apart.   Residents can enjoy state-of-the-art health and fitness facilities including an extensive gym featuring Life Fitness equipment;…

Property Finder, a leading real estate portal in the Mena region, has announced the successful divestment of its CRM business, PropSpace, as part of its strategic refocus on delivering enhanced value to its core customer base. This move reinforces Property Finder's commitment to streamlining its operations and doubling down on its core mission: empowering consumers to make informed real estate decisions. PropSpace, will now operate as an independent entity, offering unparalleled solutions to real estate professionals in the UAE. The newly created company will be led by Patrick Caulfield, who joins as Chief Executive Officer. Caulfield was previously Managing Director of Arthur Online, one of the UK’s leading property management CRMs which was acquired by Aareon, Europe’s…

UAE - Domaine Properties, a UAE-based real estate advisory organisation specialising in luxury residential, commercial, and hospitality properties, has announced the opening of its new office in Business Bay, marking a significant milestone in the company’s expansion strategy. The company has built a reputation for delivering high-quality solutions to a diverse clientele, including investors, property owners, and developers. This new office will serve as a hub to better accommodate the growing demand for premium real estate in Dubai and beyond. “The opening of our Business Bay office is a reflection of the incredible growth we’ve seen over the past few years,” said Bassam Abou Kurch, CEO of Domaine Properties. “Our goal has always been to expand our…

Average office lease rates in Dubai's key submarkets have surged by 22.4% in the past year, according to the latest Dubai Office Market Review report for H1 by global property consultant Knight Frank. This growth is driven by rising demand and limited supply across the city's top office submarkets with Dubai Grade A office occupancy levels currently exceeding 90%. Faisal Durrani, Partner – Head of Research, Mena, commented: “Despite concerns that the pandemic would lead to a permanent shift toward remote working, demand has in fact surged, which stands in sharp contrast to many other global cities. Businesses remain laser-focussed on securing best-in-class space, not least because of the proven links between occupying Grade A offices and the ability to attract and retain the…

UAE’s real estate market, which is predicted to reach a value of AED2.5 trillion ($680 billion) by 2024 end, continues to garner strong demand from investors from all over the world. The growing surge is due to various factors with the off-plan market being the major contributor and responsible for 65% of overall sales transactions for the month of August 2024, a 54% volume increase from what was recorded during the same period last year, said QUBE Development, a renowned international real estate developer. This sector’s growth is spearheaded by the increasing influx of high-net-worth individuals (HNWIs), who have entered the market looking for strong investment opportunities with a focus on the luxury property sector, primarily in the off-plan market where a high number of…

The demand for premium office spaces across the UAE has risen thanks to an increasing number of companies in the UAE returning to face-to-face work and a number of overseas companies wanting to set up operations in the country.   As businesses are also increasingly seeking high-quality, well-located office spaces to meet their evolving needs, Bayti Real Estate, a specialist in premium real estate services focusing on providing high-quality commercial and residential spaces across the region, have revealed that they have recently closed a deal for a record-breaking price per square foot of office space in Dubai.   The sale transaction involved a 2,879-sq ft premium office space located at The Opus, Business Bay, which they have sold for AED7,040 ($1,917) per sq ft. This…

UAE-based Azizi Developments has announced that it has sold all the units within Pearl, a premium residential property situated in Dubai’s growth corridor, Al Furjan, which boasts easy access to all of the emirate’s points of interest while still being a comfortable distance away from the bustle of the city.   The premium development comprises 192 studios, 54 one-bedroom apartments and 14 two-bedroom apartments.   Among the 40 nationalities that have purchased units in Pearl so far, buyers from the UAE represent the largest demographic at 25% followed by investors from US, Italy and Germany, which make up a combined 35%, as well as various GCC nations, including Saudi Arabia, that make up a combined 30%. Chief Operating Officer Afzaal Hussain said: "We take…

Sweid & Sweid, an international award-winning real estate company, has announced that it has sold 6 Falak, a newly built Grade A office building located in the heart of Dubai Internet City, to Abu Dhabi-based Aldar Properties.   The recently completed property stands out as one of the highest-quality assets in DIC, offering over 90,000 sqft of institutional-quality commercial office space.   The fully occupied property is positioned on one of the last remaining freehold plots in the free zone and is now home to several multinational blue-chip tenants, including Roland Berger, MSD, and IFS, stated the developer. On the key sale, Maher Sweid, Managing Partner of Sweid & Sweid, said: "The completion of this transaction marks another milestone for the company in…

KASCO Developments has officially launched its business in the UAE property market with an initial investment of AED 1.20 billion, according to a press release.   KASCO Group has run operations in real estate since 2008 and its portfolio delivered projects; such as Waves Tower by KASCO, KASCO Residence, KASCO Tower, and Gulf Oasis.   The development company plans to sell 1 million square feet of residential projects by 2025, boosting its vision of integrating technology with modern design trends.   In the short term, the company seeks to launch, sell, and deliver its first three projects. Dubai areas of particular interest to the new company include Business Bay and Al Jaddaf.   The new venture builds on the KASCO Group's 30 years of experience in project…

LMD, a leading real estate developer with global presence in Spain, Greece, Egypt, and the UAE announced the launch of its latest project, The Pier Residence, in Dubai Maritime City, with an estimated investment of AED 750 million. The company hosted a launch event to unveil the project's details in the presence of numerous strategic partners. The Pier Residence is set to be handed over in Q2 2027 and will feature 274 luxurious homes, ranging from stylish one, two, and three-bedroom apartments, with select units offering private pools. The project offers a sophisticated lifestyle, catering to diverse preferences with its modern elegance and top-tier design finishes. Residents will enjoy breathtaking views spanning Arabian Gulf, and the stunning Downtown Dubai skyline. The Pier Residence…