Latest news with #Dhs3.5
Gulf Today
14 hours ago
- Business
- Gulf Today
Aldar generates more than Dhs3.5 billion in sales at Fahid Island during launch week
Aldar today announced it has generated over Dhs3.5 billion in sales at Fahid Beach Residences and The Beach House, the island's first residential developments released during launch week. The Fahid Island homes attracted a diverse pool of buyers, drawn by the island's position as Abu Dhabi's first coastal wellness destination, the waterfront lifestyle, and proximity to super-premium education at Kings College School Wimbledon which sits within the wider wellness inspired masterplan. Expatriate residents and overseas buyers account for 67% of total sales, with buyers from the UAE, Russia, the UK, and China making up the top nationalities by sales volume. This strong local and international interest underscores Fahid Island's emerging global profile as a premier lifestyle destination where wellness meets culture, nature, and community. 42% of buyers are under the age of 45, signalling growing demand for luxury wellness-focused living among younger demographics. Notably, 67% of buyers are first-time Aldar customers, demonstrating Aldar's expansive reach and the appeal of the Group's thoughtfully curated destinations. Jonathan Emery, Chief Executive Officer at Aldar Development, said, 'The highly anticipated launch of Fahid Island has resulted in the first homes released generating more than Dhs3.5 billion - and serves as a powerful validation of our vision to place wellness at the heart of community living. The success reflects Abu Dhabi's position as one of the world's most desirable investment and lifestyle destinations and we are expecting continued interest in Fahid Island as Abu Dhabi's first wellness island builds its profile on the global stage.' In response to the overwhelming demand for Fahid Beach Residences, Aldar accelerated the launch of Fahid Island's second residential offering, The Beach House during launch week and sales progress continues at pace. Comprised of 11 elegantly designed towers offering a collection of studios to 3-bedroom + maid apartments, the new development draws on its coastal surroundings and is thoughtfully crafted to evoke a sense of calm, lightness, and relaxed sophistication. Residents benefit from exquisite interiors and breathtaking views of the sea and Abu Dhabi skyline, as well as a state-of-the-art amenities and facilities, direct shoreline access, and seamless connectivity to Coral Drive, the island's boutique retail boulevard. With further residential launches planned, Aldar will continue to deliver on its vision to transform Fahid Island into a vibrant, wellness-focused destination that redefines coastal living in the region. WAM
What's On
10-06-2025
- Business
- What's On
Jumeirah Emirates Towers to launch new luxury residences
A city icon gets a new key… There's a new chapter rising on Sheikh Zayed Road – and if the name rings a bell, that's the point. Jumeirah Residences Emirates Towers is bringing one of Dubai's most iconic addresses into a new era. Not offices. Not hotels. This time: homes. While Sheikh Zayed Road is no stranger to skyscrapers, this one is special. Jumeirah Residences Emirates Towers is the latest addition to Dubai's skyline – a new residential twin-tower that builds on the legacy of one of the city's most recognisable names. Developed by Meraas (under Dubai Holding Real Estate), the project introduces 754 branded homes, with prices starting from Dhs3.5 million. Move-in? Slated for 2030. The design Designed by SCDA Architects, the structure leans into a cantilevered silhouette – futuristic, balanced, and geometric. The shape gives the towers their edge, quite literally. Inside the homes Floor-to-ceiling windows. Minimal layouts. Every residence is shaped for privacy, with breathtaking views over Downtown and the Museum of the Future. Interiors lean modern and clean. Starting at Dhs3.5 million for a one-bed, these homes are built around privacy and pure luxury. The entrance A private drop-off leads to a double-height lobby, a hidden courtyard, and calm, gallery-like spaces that set the tone before you've even stepped inside your home. The terraces There are three of them – perched high, planted with greenery, wrapped around infinity pools and quiet lounges with stunning views all around. Designed for residents only, they're more retreat than amenity. The amenities From a luxury gym with dedicated studios and co-working spaces to a private cinema, family pool, padel courts, and children's play zones – the lifestyle options cover work, play, and everything in between. Life with Jumeirah From 24/7 concierge services to wellness treatments, private chefs, fitness coaching, and car management – residents will have access to Jumeirah's hospitality, only this time, without checking in or out. It's the signature Jumeirah service – just woven into daily life instead of a weekend stay. Also read 6 destination beach clubs to plan your summer around 7 of the best designer hotels in Dubai in 2025 15 of the UAE's most futuristic hotels Location, Location, Location Set in a prime spot near the Museum of the Future, DIFC, and City Walk, with quick access to Sheikh Zayed and Al Khail Roads, residents can easily reach Dubai's hotspots – from J1 Beach to Downtown. Images: Supplied > Sign up for FREE to get exclusive updates that you are interested in
Gulf Today
03-06-2025
- Business
- Gulf Today
Central Bank imposes Dhs3.5m fine on exchange house in UAE
The Central Bank of the UAE (CBUAE) imposed a financial sanction on an exchange house, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its amendments. The financial sanction of Dhs3,500,000 (Dhs3.5 million) has been imposed after assessing the findings of an examination conducted by the CBUAE, which revealed that the exchange house failed to comply with AML/CFT policies and procedures. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff abide by the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the financial transactions and safeguard the UAE financial system. WAM
Hi Dubai
03-06-2025
- Business
- Hi Dubai
Dubai Duty Free Posts Record-Breaking Dhs724.7 Million in May Sales
Dubai Duty Free recorded a strong performance in May 2025, reporting sales of Dhs724.7 million (US$198.5 million) — the highest monthly figure so far this year and a 12.5% increase over May 2024. The figures mark May 2025 as the second-highest sales month ever outside the peak December period, trailing only behind November 2024. Year-to-date revenue has now surpassed Dhs3.5 billion (US$1 billion), reflecting a 6.5% growth compared to the same period last year. Managing Director Ramesh Cidambi attributed the robust performance to consistent category-wide growth and the dedication of the retail team. According to internal estimates, May sales outpaced passenger traffic growth by 7–8%, with daily averages hitting Dhs23.3 million (US$6.38 million). Customer engagement metrics also improved significantly. Penetration rose to 28% from 26.3% in May 2024, and average spend per departing passenger climbed to US$46.7, up US$3 year-on-year. Confectionery led product category gains with an 81% surge in sales, totaling Dhs73.9 million (US$20.2 million), largely driven by the popularity of 'Dubai chocolate.' Perfumes posted a 15% increase to Dhs132.8 million, while cosmetics rose 10.8%. Sales of cigarettes and tobacco, gold, precious jewellery, liquor, electronics, and fashion also saw notable year-on-year growth. Sales by location showed strong gains, with Concourse B in Terminal 3 leading at 17.5% growth. Terminal 2 Departures posted the highest percentage increase at 20.8%, while refurbished Arrivals shops saw a 6.25% uptick. Regionally, all key passenger markets contributed positively, with Europe up 25.9%, and the Middle East and Russian region each posting 14% increases. News Source: Dubai Media Office
Time Out Abu Dhabi
02-06-2025
- Lifestyle
- Time Out Abu Dhabi
Abu Dhabi's new island will include a 10km fitness track, a beach club and a five-star resort
Abu Dhabi's newest island is coming and it's no regular island. Fahid Island, located between Yas Island and Saadiyat Island, has now been formally introduced to the public and we have one word: wow. Set to open in 2029, when phase one of the project is set to be complete, it will include amenities like a 10km running and cycling track, a beach club, a five-star resort and a pedestrian shopping street. Fahid Island has been designed with wellness in mind, with plenty of footpaths connecting all corners of its 2.7 million sqm, designed to get residents and visitors' steps up. While some amenities will be reserved for residents, the general public will be able to access its Berm Park, a 10km wellness and fitness corridor with running tracks and three cycling routes, as well as the 4.6km of beaches and a beach club. Then there's Coral Drive, Abu Dhabi's answer to LA's Rodeo Drive – a shopping destination meant to be walked, not driven through. No shops have been announced yet but we're expecting a high-low mix of big names. The island was also designed to maximise the time Abu Dhabians can spend outdoors throughout the year. To make sure your walks along the island aren't insufferable once the heat kicks in, they're making sure there's enough shade everywhere (from trees but also fabricated shade) and drinking water fountains throughout. Plus, the materials used for the floors will absorb less heat, a move pets will certainly welcome. In fact, Fahid Island is the world's first Fitwel-certified island, a certification that looks at how communities are built to promote and build health. As a self-contained island, Fahid will also have a prestigious British school joining the grounds (which is yet to be announced), a mosque, a waterside fitness centre and a promenade for drinks and bites with sea views. Want to move in? Join the club. The first phase of the project, the Fahid Beach Residences, will be made up of seven mid-rise buildings, with 65 apartments each. They start at Dhs3.5 million for a one-bedroom apartment and will go on sale soon, although an exact date is yet to be announced. Considering how quickly the Abu Dhabi market has been moving, we wouldn't be surprised if this one sells out in a day as well… More Abu Dhabi real estate These are the most popular places to buy and rent in Abu Dhabi right now No gatekeeping round here Modon's Muheira towers on Reem Island sell out on launch day This is pretty cool A new village in Abu Dhabi completely sold out in 24 hours A little slice of Tuscany right in the capital
