In the near future, the UAE will feature several of the most exciting real estate projects. In Dubai’s property market, prices and rental values have surged this year, while development companies continue to launch new residential projects. The emirates of Abu Dhabi and Ras Al Khaimah are also set to see new complexes in the coming years.
The development company, Omniyat Properties, is currently working on a new residential project that will break all records in Dubai’s real estate market. The flagship project on Palm Jumeirah called Orla, will house the exclusive penthouse with a living area of 50,000 sqft. The founder of Omniyat Properties, Mahdi Amjad, calls the giant penthouse a ‘sky palace’. The biggest apartment in Dubai will be distinguished by a private 115 ft infinity pool, its own lobby, a private elevator and an arrival area.
The price for the exclusive property remains top secret, but it is expected that the cost of the unit will be at the very top end of the price range. According to the statement by the developer, the value will only be revealed after it has met with interested investors.
The luxurious complex of Orla, which is a USD 1.3B project, will be managed as part of the Dorchester Collection, and will be located on a 312,153 sqft beachfront plot. Each of the residences in the development will have a unique design and layout, as well as provide amazing 270-degree views of the Arabian Gulf and the Dubai skyline. Omniyat Properties has partnered with the world-famous Foster + Partners, founded by legendary architect Norman Foster, on the design of the Orla complex.
We recommend reading this article about the Dubai property market trends in 2022 in order to better understand which real estate in the emirate is in high demand.
Dubai International Financial Centre (DIFC) launches the DIFC Living and Innovation Two development, which will comprise over 170 units. It will be the first community with independent yet connected residential and commercial projects. The mixed-use space will include DIFC Living residential units, retail and dining, co-working and office spaces. The development offers urban living with the combination of a high-quality environment. The new Innovation Hub will make DIFC the one of the world’s biggest ecosystems dedicated to fintech and innovation.
Phase three of the DIFC Innovation Hub will include 184,000 sqft of co-working spaces and offices, while a further gross floor area for retail use will constitute 107,000 sqft. There also will be modern conference facilities within the development. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE and President of DIFC, announced the original expansion of the Innovation Hub in May 2021. The size will be increased from 80,000 sqft to 315,000 sqft and the anticipated date of completion is set to be the end of next year.
At the moment the DIFC, which is the leading global financial centre in the Middle East, Africa and South Asia (MEASA), is home to over 600 growth-stage tech firms, which include digital labs, innovation companies, educational institutions and venture capital firms.
The development company of Aldar Properties has acquired a prime beachfront plot with an area of 430,556 sqft on Al Marjan Island. This will be Aldar’s first residential community in Ras Al Khaimah, with a mix of more than 2,000 branded and premium residences that will be built here. Units will feature access to a beach club and retail spaces, as well as 1.2 mi of private beach.
The mixed-use neighbourhood will occupy the plot acquired on Marjan and existing land purchased as part of the DoubleTree by Hilton Resort & Spa Marjan Island earlier this year. The anticipated launch date of the project is set to be in 2023.
Al Marjan Island is a world-class leisure and lifestyle destination, which attracts interest from leading regional and international investors. As stated by CEO of Marjan, Abdulla Al Abdouli, Aldar’s first residential community in Ras Al Khaimah is a reflection of its trust in Al Marjan Island as a destination. The emirate has strong market fundamentals and its dynamics represent an attractive market for the developer.
The highest residential tower in the world called Burj Binghatti will be built in Dubai. The development company of Binghatti, in cooperation with the luxury high jewellery company Jacob & Co, will deliver the record-breaking building.
The final height for the skyscraper, which will have a strategic location in Business Bay, has not been released yet. The current record for highest residential-only building is held by New York’s Central Park Tower with a height of 1,548 ft.
The complex of Burj Binghatti Jacob & Co Residences will include over 100 levels and will offer residences with two and three bedrooms, as well as penthouses. Residents will enjoy in-house concierge services including bodyguards, private chefs and chauffeurs. There is also a private member’s club and an infinity pool overlooking the Dubai skyline in the residential building.
The inspiration for the building’s design was taken from the complex horological movements that beat in the Jacob & Co timepieces and will be integrated into the key elements of the complex. The diamond-shaped spires are situated at the peak of the skyscraper and resemble an actual crown inspired by the design of Jacob & Co’s finely cut gems. The estimated date of tower’s completion is 2024.
The development company of Meydan unveils a new luxurious residential complex along the Dubai Water Canal called The Canal Front Residences. The building is one of the few freehold projects launched in Al Wasl, which means both local and foreign investors can purchase a residence here.
Properties in the waterfront complex are presented by one, two and three bedroom apartments and the total number of units will be 165. The starting price of Dubai Canal residences constitutes AED 1.99M (USD 542K), while the minimum property size is 972 sqft.
The residential complex is being developed by Meydan and offers a convenient lifestyle along the Dubai Water Canal. There will be a wide range of amenities in the project such as an art gym, an outdoor swimming pool with sun loungers, a children’s playground, and much more.
Note: By purchasing a property valued at minimum AED 2,000,000 (USD 545,000), owners can get 10-year UAE Golden Visa.
Wasl asset management group announced in a latest construction update that construction works on the 56th level of the Wasl Tower have been completed. The residential tower, with a height of 991 ft and an asymmetrical design will have the tallest ceramic facade in the region and will present an illusion of dynamic motion.
The building will include 64 storeys and offer 229 residences and 258 hotel rooms as part of the second Mandarin Oriental Hotel in Dubai. There are eleven parking floors in the complex and 185,345 sqft of office space.
Residents of the tower will be able to face almost every direction due to the convenient construction around its Z axis. The tower adopts a classic ‘contrapposto’ movement. At the moment the complex is under construction with the estimated date of completion set to be in Q2 2024.
Note: When purchasing off-plan property, developers offer attractive payment plans. The total cost of the residence is divided into several parts, which can be paid during the construction of the project.
One of leading premium real estate developers in the UAE, Sobha Realty, has launched the company’s first signature residential complex called The S Tower. The project will be distinguished by an advantageous location on the Sheikh Zayed Road, which provides fast connectivity to other parts of the emirate.
Residents will enjoy plenty of five-star amenities, different smart features and round-the-clock concierge and security services. The signature complex will feature views of Emirates Golf Club and the open sea. There will be six levels of enclosed podium car parking, a health spa, a bespoke café, a meditation corner and an infinity-edge pool in the building.
The project follows Sobha’s ‘Backward Integration’ model with 62 floors and superlative residences situated on 43 levels. The tower will be equipped with smart features such as window shades, smart lights and other smartphone connectable features.
To find out more about the best properties in Dubai to obtain an Golden or Investor Visa, read this article.
A couple of new ultra-luxury projects by AHS Properties were launched in the sought-after areas of Palm Jumeirah and Dubai Canal. Global architect Shaun Killa from Killa Design, which is the designer of the Museum of the Future, will lead the architecture for both these residential complexes.
There will be nine storeys in each residential building and properties in the complex will be presented by sky villas and penthouses. The amenities within the project will comprise private cinemas, cigar lounges, a state-of-the-art spa, as well as private swimming pools on all balconies.
The projects on Palm Jumeirah and along the Dubai Canal will be priced at about AED 4,040 (USD 1,100) per sqft. The interior designers of the projects will be 1508 London and Hirsch Bedner Associates.
Aldar Properties have launched a new development called Saadiyat Lagoons, which is strategically located on the east side of Saadiyat Island, Abu Dhabi. The real estate is available for sale to UAE national buyers only.
The first phase of the community will include 207 villas and the starting price will constitute AED 6.1M (USD 1.6M). Properties in Saadiyat Lagoons will be presented by 4, 5 and 6-bedroom villas. Residents will enjoy plenty of amenities, including a skate park, an eco-corniche amphitheatre, a dry deck water play area, a volleyball court, paddle courts, a climbing wall, parks, a basketball court and playgrounds. The construction of the development is due to begin in Q2 2023 and has an anticipated date of handover in Q2 2026.
Upon completion, the community will boost the position of Saadiyat Island as a fully developed leisure, cultural and residential destination, which will be in high demand amongst UAE nationals. In addition, the project of Saadiyat Lagoons is distinguished by various sustainability initiatives including solar panels installed across the community and water features, which will reduce water usage by approximately 50%.
Note: Buying an off-plan property is a beneficial investment because the real estate value will only rise as the complex is being developed. In the near future, investors can resell the residence at a higher price.
Alpago Properties develops the new residential project of Palm Flower, which will be located on the West Beach of the sought-after area of Palm Jumeirah. The complex will include eleven storeys and only ten exclusive residences. Each of the units will occupy an entire floor and one mega-penthouse will take up two levels.
The development company of Palm Flower will partner with British architect and designer Norman Foster of Foster & Partners, which is well-known for the design of Alif – The Mobility Pavilion at Expo City Dubai. The construction of the Palm Flower project has already begun.
Residences in the exclusive complex will provide breathtaking views of the Arabian Gulf through panoramic windows. Premium amenities will include a gymnasium, a private cinema, as well as a full terrace with a private swimming pool and a garden. The building will feature an exclusively designed lobby, which will link the extensive basement with parking through private elevators that open directly into the exquisite penthouses.
Floating Seahorse Villas by The Heart of Europe
The project developer, Kleindienst Group, has modelled Floating Seahorse Villas Dubai to give residents a sense of the yacht life. Each of these floating wonders is a tiny island by itself – surrounded by sea, with distant views of the city’s skyline.
Another stand-out feature of the Floating Seahorse Villas Dubai is the submerged level under each villa – pure engineering marvel. It has coral reef installed that provides a home for endangered marine species to live and breed in safety. This eco-friendly element provides residents with spectacular, uninterrupted views of marine life in their natural habitat. It really doesn’t get more luxurious than this.
