Gulf Construction Online

Real Estate

News in brief

01 December 2019

Aldar starts handover of two Saadiyat Island projects

UAE-based Aldar Properties says it has achieved a significant milestone in the delivery of two of its flagship developments on Saadiyat Island, having started phased handovers of Mamsha Al Saadiyat and Jawaher.

Mamsha Al Saadiyat is an exclusive mixed-use development located in the Saadiyat Cultural District offering beachfront residences with access to diverse retail, dining and entertainment features along the beach, while Jawaher is a luxury gated community located in the Saadiyat Beach District, says Aldar.

On the key achievement, executive director (Commercial) Maan Al Awlaqi says the handover of both Mamsha and Jawaher marks a remarkable achievement for Aldar and an exciting moment for the customers on Saadiyat Island.

“Homeowners can now experience luxury living in Abu Dhabi’s crown-jewel destination. We look forward to maintaining this pace of progress on these two prime developments as phased handovers continue,” he notes.

Aldar has also achieved remarkable progress on projects that are currently in various stages of development, across key destinations in Abu Dhabi, he adds.

Damac Hills boosts retail offering with new Spinneys outlet

Damac Properties, a leading luxury real estate developer in the region, has announced the opening of a new Spinneys supermarket at its Damac Hills, a 42-million-sq-ft master development, which now has over 6,000 residents.

The new outlet, which is located near the main entrance of the Trump International Golf Club, was inaugurated by Ali Al Bawardi (chairman), Johannes Holtzhausen (Vice Chairman), and Sunil Kumar (CEO) of Spinneys Dubai along with Ehab AlNajjar, Senior Director, LOAMS.

In October this year, Damac opened a new community centre at Damac Hills that features a wide range of retail outlets such as florists, pet food and supplies, a juice bar, and a gadget repair shop, among others. In September, the Norwegian brand, CreaKids, opened a new state-of-the-art nursery for children at the master community.

Niall McLoughlin, senior vice-president, says: “At Damac, we continuously look for new ways to enhance the living experience of our residents. Being one of the leading retail brands, Spinneys is the perfect addition to Damac Hills, which is now home to over 6,000 residents.”

“In addition to the other retail outlets and dining options, the new store offers more convenience and value to the residents. The Damac Hills community is growing, and we are thrilled to witness the evolution,” he adds.

PH Real Estate brokers largest Dubai villa sale deal

Dubai-based PH Real Estate said it has brokered the largest villa sale within Emirates Hills, a luxury-gated community from Emaar Properties, last month.

The 2,000-sq-m property, which was sold for Dh41.2 million ($11.2 million), represents the third highest real estate transaction in Dubai during the past six months, says the top broker.

Exclusively listed with PH Real Estate Brokers, the luxurious villa sits atop 3,237 sq m of expertly landscaped property. Purchased by an Indian business man, the villa’s new owner hails from Morocco, it states.

Home to some of the most wealthy individuals in Dubai, Emirates Hills boasts private parks, tranquil walking paths and the world-class 18-hole Montgomerie Championship Golf Course, it adds.

CEO Myles Bush says these kinds of high-end transactions show confidence in Dubai’s real estate market. “Selling villas valued at over $10 million right now is a wonderful indication of a market on the up!” he adds.

PH Real Estate has a proven track record of successfully brokering some of the most prestigious real estate deals in Dubai since its inception in 2007.

Riviera Group unveils new luxury tower in Jumeirah Village

Dubai-based Riviera Group has announced the opening of its new La Riviera Apartments, a 22-storey residential building housing 144 stylish one- and two-bedroom apartments and two retail units within the district of Jumeirah Village Circle (JVC).

A key residential and commercial community, JVC features a mixture of Arabian and Mediterranean villas, stylish townhouses and apartments at the heart of new Dubai.

Its 25-ft-high grand entrance lobby with its specially commissioned chandelier and artwork, a convenient car drop-off facility and hotel-style elevators add to the luxury lifestyle feel of the residence, says the developer.

This landmark project takes opulence to the next level, thanks to the efforts of one of the UAE’s longest-standing architectural and construction engineering consultancies, Bel Yohahah. Progressive art and tasteful architecture have been melded to produce a stunning and functional design which is evident in the building and its finishes, it says.