Real Estate

A Dh25-billion ($6.8 billion) Riviera-style coastal destination that will celebrate Dubai’s maritime heritage while creating a future-ready lifestyle address is set to take shape soon by the historic Dubai Creek in the heart of the city.

Work is in full swing on Abu Dhabi’s latest social dining and entertainment destination, the Al Qana, which is on track for opening in the fourth quarter of 2020. With 2.

UAE-based Azizi Developments said it is bringing the next generation of urban connectivity to life with Connect by Azizi, a well-designed and strategically-located residential development within its Al Furjan community in Dubai.

UAE property developer Emaar has launched its new ‘Creek Edge’ residential project located on the northern tip of Creek Island, which forms part of its 6-sq-km Dubai Creek Harbour mega-development.

Omniyat, a Dubai-based property development group, says it has marked another milestone with the sale of its second penthouse unit in One Palm, thus setting the record once again and making it the second-most expensive penthouse sold in the history of UAE real estate.

OFF-PLAN developments near the Expo 2020 project site in Dubai are garnering a high amount of interest from investors, according to UAE real estate portal Bayut. Dubai South, Meydan City, Mudon and Town Square are some of the areas that prospective buyers and tenants are most interested in, states Bayut in its report.

Al Futtaim, a leading UAE diversified company, says its mall division has started work on a new 22,143-sq-m expansion project at its retail destination, Cairo Festival City Mall, which on completion will add several new luxury brands.

Miral, Abu Dhabi’s creator of destinations, says it has signed land sales agreement with Siadah International Real Estate Development for the development of two residential buildings at Yas Bay.

UAE-based Tebyan Real Estate Development said it has sold over 70 per cent of the luxury apartments at its 373-unit development Sparkle Towers in Dubai Marina, as it prepares for handover. These include studios, one-, two- and three-bedroom units.

Select Group, a leading UAE-based real estate developer, has announced the topping out of Jumeirah Living Marina Gate, the third and final tower within its Marina Gate development in Dubai.

Wasl’s The Nook twin-tower project 50pc sold Dubai-based wasl properties (wasl), a subsidiary of wasl Asset Management Group, says it has received an overwhelming response for its key development ‘The Nook’, which represents the first two buildings within the wasl gate development on Sheikh Zayed Road in Jebel Ali.