Dubai Real Estate Market Review 11-Jan-2024
Below are the latest real estate news and transactions.
RAK Properties unveils four-tower development at Hayat Island
RAK Properties, a leading UAE developer, has announced the launch of Quattro Del Mar, a luxurious residential project on Hayat Island in Mina Al Arab, Ras Al Khaimah. This premium project features four interconnected towers, offering a unique blend of entertainment, world-class facilities, and serene surroundings. The development includes amenities like a Zen garden, Spa Club, state-of-the-art gym, yoga studio, cinemas, sky pools, dining options, retail shops, a mini-golf course, play areas for kids, sports courts, fitness trails, and pet parks. Designed with AI and dynamic software, Quattro Del Mar provides exclusive lagoon and resort views, with unique floor-to-ceiling windows that reflect the Arabian Gulf's tranquility. It offers various residential options, including studios, apartments, sky duplexes, and garden townhouses. CEO Sameh Muhtadi emphasizes that this project will revolutionize the urban landscape of Ras Al Khaimah, meeting the increasing demand for investment opportunities in the region and aligning with RAK Vision 2030.
Read the full article at Zawya
New Skyscraper To Become “The Crown Jewel of Dubai”
Binghatti and Jacob & Co. have partnered to create the Burj Binghatti Jacob & Co. Residences, set to become the world's tallest residential tower in Dubai. This Hyper-Tower, designed for avant-garde living, combines Binghatti's design excellence with Jacob & Co.'s craftsmanship, particularly in the luxurious interior design. The tower offers various residences, including quarter-floor to expansive two-floor penthouses, named after precious gemstones and Jacob & Co.’s exclusive timepieces. These units feature high-end materials, exquisite finishes, and stunning floor-to-ceiling windows offering panoramic views of Dubai and the Burj Khalifa. The tower's amenities include a café bar, chef’s table, indoor and outdoor pools with pool bars, a private fitness club, sky gardens, a spa, a children's area, and personalized concierge and valet services. Penthouses have private elevators for added privacy and convenience. The architectural and interior design was led by Roman Vnoukov in collaboration with Jacob & Co.
Read the full article at Dubai Chronicle
Starting In Dubai, ANAX Developments Embarks On A Global Investment Journey In Luxury Real Estate
ANAX Developments, a subsidiary of ANAX Holding, aims to reshape the real estate luxury market with groundbreaking innovation fostering community-centric living in the UAE and beyond.
The company is set to launch its first luxury real estate venture, VENTO Tower, a landmark property for luxury living in the heart of Business Bay, Dubai, in Q1, 2024.
Read the full article at Construction Business News
Dubai Real Estate Transactions as Reported on the 10th of January 2024
Dubai Real Estate: Off-Plan Leads Robust Activity
Dubai's property market thrived recently, with off-plan transactions playing a central role:
Significant Off-Plan Demand: A substantial 792.8 million AED in transactions involved off-plan units, showcasing strong investor and buyer interest.
Flat Focus: Smaller living spaces led the off-plan charge, with flats contributing 638 million AED to the total.
Villas Remain Relevant: While a lower share, villas maintained their appeal, bringing in 145.9 million AED in off-plan transactions.
Ready Market Holds Ground: Completed units also saw noteworthy activity, generating 586.4 million AED in transactions.
Flats Dominate Ready Market: As with off-plan, flats held the top spot in the ready market, contributing 418.5 million AED.
Villas Secure Share: Villas continued their presence in the ready segment, with 113.6 million AED in transactions.
Data Source: Dubai Land Department