Latest news with #GeorgeAzar
Mid East Info
3 days ago
- Business
- Mid East Info
Diriyah Company Launches London Experience Center at One Hyde Park, Knightsbridge - Middle East Business News and Information
Diriyah House Experience Center to operate through a co-branding partnership with Sotheby's International Realty DIRIYAH,June 2025: Diriyah Company is launching a new marketing initiative at one of London's most prestigious locations to showcase the project. The Diriyah House Experience Center will be hosted at One Hyde Park, a premier business address in Knightsbridge near Harrods. It will provide an immersive experience for those interested in opportunities in Diriyah, one of Saudi Arabia's giga-projects located on the outskirts of Riyadh. The Diriyah House Experience Center's official opening is scheduled for the beginning of July 2025. The center will operate as a co-branded hub operated by Sotheby's International Realty, the UK company originally founded by Sotheby's art dealers. Sotheby's International Realty has recently entered the Saudi market and chosen Diriyah as a key launchpad, already marketing branded residences for prestigious hospitality names such as The Ritz-Carlton, Corinthia, and Baccarat—all part of the landmark developments taking shape in Diriyah. The Diriyah House Experience Center will include a state-of-the-art marketing suite featuring a masterplan model and flexible model display. It will bring The City of Earth to life for a wider global audience. Diriyah Company Group CEO Jerry Inzerillo said 'We are delighted to open this high-profile and prestigious experience centre in the heart of London.' 'This prestigious London address enables us to share Diriyah's story on a global stage in a truly world-class setting, strengthening our international outreach as we build one of the world's greatest gathering places, rooted in the history, heritage and culture of the Kingdom.' George Azar, Chairman & CEO of Dubai, United Kingdom, and Saudi Arabia Sotheby International Realty, added: 'We are proud to collaborate with Diriyah Company on this landmark initiative and to support the launch of the Diriyah House Experience Center at One Hyde Park. As their partners, we are pleased to offer our experience and expertise in presenting ultra-prime real estate to a global audience. With a strong foothold in the UK's super-prime market, this collaboration allows us to do what we do best — represent the world's most exceptional properties while acting as local experts with global reach. Through this partnership, we look forward to connecting discerning investors and stakeholders in the UK with the extraordinary vision and opportunities emerging in Diriyah.' The announcement of the Diriyah Experience Center follows a successful month-long activation by Diriyah Company at Harrods in London in July 2024. The campaign featured a showcase of Diriyah's masterplan models and a supporting out-of-home marketing campaign across the city. This international engagement reflects the growing global appetite for investment in The City of Earth and reinforces Diriyah's commitment to connecting with the international investment community. Located on the outskirts of Riyadh and backed by Saudi Arabia's Public Investment Fund, Diriyah is an integrated urban development project covering 14 square kilometers. It includes building homes for around 100,000 residents and is expected to create nearly 180,000 jobs. Its ambition is to attract approximately 50 million visits annually, contributing an estimated SAR 70 billion (£16.6 billion) to Saudi Arabia's GDP. Diriyah Company does not have any permanent establishment or a place of business in the UK. The Diriyah House Experience Center is operated by Sotheby's International Realty for the sole purpose of marketing Diriyah' s projects. About Diriyah: Diriyah, Saudi Arabia's premier historical, cultural, and lifestyle destination, is a key component of Saudi Arabia's 2030 Vision. A short 15-minute drive from Riyadh's city center, this 14-square-kilometre development holds historical significance as the birthplace of the Kingdom of Saudi Arabia, dating back to 1727. Currently being developed by Diriyah Company, Diriyah is undergoing a transformation into an authentic Najdi-style mixed-use urban community. Diriyah's centerpiece is At-Turaif, the UNESCO World Heritage Site inscribed in 2010, showcasing the ancient adobe capital city of the First Saudi State, dating back to 1766. Upon completion, Diriyah will host 100,000 residents, workers, students, and visitors, offering a diverse range of cultural, entertainment, retail, hospitality, educational, and residential spaces. The first of those spaces include Bujairi Terrace, Riyadh's new premium dining hub with over 20 global and local restaurants and cafes that enjoy uninterrupted views of At-Turaif. Bab Samhan, a Luxury Collection Hotel is the first hospitality offering in Diriyah, providing a tranquil experience with panoramic views of Wadi Hanifah. Diriyah's development provides a dynamic environment that celebrates Saudi Arabia's rich cultural history. About Diriyah Company: Diriyah Company was established in 2023 and joined the Public Investment Fund's (PIF) portfolio of giga projects. The Company is responsible for developing the Diriyah project, the birthplace of the Kingdom of Saudi Arabia and its foremost historical, cultural and lifestyle destination. A dynamic mixed-use developer, Diriyah Company is redefining urban planning to develop Diriyah, 'The City of Earth', while adhering to the highest design, development, and preservation standards. The company ensures Diriyah's cultural landmarks are complemented by world-class retail offerings, fine-dining experiences and leading hospitality brands. As a PIF company, its mission focuses on opportunities in development, hospitality, investment, retail and office leasing, along with strategic asset management, underscoring the commitment to ensuring successful business outcomes and sustainable growth under the strategic direction of Vision 2030. The Diriyah Company actively forges long-term partnerships to realize its vision of establishing Diriyah as one of the world's greatest gathering places. About Sotheby's International Realty: United Kingdom Sotheby's International Realty takes pride in upholding a name renowned for its expertise and successful sales of prestigious properties. Part of the Sotheby's International Realty network of 1,100 offices worldwide and 26,100 global property experts, United Kingdom Sotheby's International Realty possesses unique insights into international real estate markets. The network provides a powerful marketing and referral programme for luxury properties worldwide, which gives United Kingdom Sotheby's International Realty an unparalleled advantage in operating in the top-tier markets to represent the most luxurious homes in the UK. Building on quality and heritage, United Kingdom Sotheby's International Realty has emerged as a thought leader in the luxury property market with a singular and bespoke offering.
Zawya
3 days ago
- Business
- Zawya
Rare $100mln Palm Jumeirah land plot brokered by Dubai Sotheby's International Realty
Dubai, United Arab Emirates – In a significant moment for Dubai's luxury real estate market, Dubai Sotheby's International Realty has successfully brokered the sale of a prime residential plot on Palm Jumeirah for a staggering AED 365 million (USD 100 million). This transaction marks the highest-value land deal recorded on the iconic island in 2025, underscoring its enduring appeal to the ultra-high-net-worth market. Spanning an impressive 90,036 sq. ft., this exceptionally valuable plot occupies a coveted 'frond tip' position – a truly rare find on Palm Jumeirah, where most land has already been developed and freehold plots are tightly held. Boasting sweeping, uninterrupted views across the Arabian Gulf, Bluewaters Island, and the glittering Dubai Marina skyline, the property offers an unparalleled blend of absolute privacy and breathtaking, iconic panoramas. George Azar, Chairman & CEO of Dubai Sotheby's International Realty, commented: 'Palm Jumeirah unequivocally remains the ultimate address for Dubai's global elite. The sale of this exceptionally rare frond tip plot emphatically underlines the enduring prestige of the island and the intense demand for unparalleled ultra-prime waterfront living. As prime inventory continues to tighten, we anticipate land values and bespoke mansion prices will appreciate significantly in the years to come.' This landmark deal is indicative of a broader trend witnessed throughout 2025, as Dubai continues to achieve unprecedented milestones in its real estate sector. In December 2024, Dubai Sotheby's International Realty notably facilitated the sale of a five-bedroom beachfront Signature Villa at Six Senses Palm Jumeirah for AED 130 million (USD 35.4 million), a transaction that ranked among the top ten most expensive branded residences sold globally in 2024. Land plots, in particular, are experiencing exceptionally robust demand as both developers and Ultra-High-Net-Worth Individuals (UHNWIs) seek to create bespoke residences within Dubai's most prestigious enclaves, driven by the continued influx of UHNWIs to the emirate. According to Dubai Sotheby's International Realty, for January-May 2025, Palm Jumeirah has seen prices surge by 18.92%, despite a 14% dip in transaction volume, highlighting the intense value appreciation in this exclusive market. Data from the Dubai Land Department reveals that over 7,700 plots were transacted within the first 100 days of the year alone, underscoring this intense market activity. Leigh Borg, Executive Partner at Dubai Sotheby's International Realty, exclusively represented the seller in this significant transaction. The discerning buyer, 25 Degrees, is a premier luxury property developer renowned for crafting architecturally significant, ultra-bespoke residences across Dubai's most elite enclaves. 'The demand for super-prime real estate in Dubai is truly extraordinary, and the appetite for exclusive, meticulously crafted residences has never been stronger,' stated Leigh Borg. 'In today's highly competitive market, developers must differentiate themselves through unparalleled originality and visionary design. This extraordinary plot presents 25 Degrees with a once-in-a-generation opportunity to deliver a truly iconic residence, poised to set a new benchmark for ultra-luxury living on the Palm.' Dubai Sotheby's International Realty continues to lead the luxury real estate market, setting new benchmarks and facilitating unparalleled transactions that underscore Dubai's enduring appeal as a global hub for prime and ultra-prime property. About Dubai Sotheby's International Realty Dubai Sotheby's International Realty is a leading luxury real estate broker specialising in the prime and super-prime markets. The agency brings expertise to a discerning clientele across Dubai's most sought-after areas, including Emirates Hills, District One, Palm Jumeirah, and beyond. As part of the global Sotheby's International Realty network, it offers unrivalled access to a global audience across 84 countries and territories. For media enquiries, please contact: Burson META Tiffany Dickinson – Shirin Zemmo –
Gulf Business
4 days ago
- Business
- Gulf Business
$100m plot sold in Dubai: Here's where its located
Image credit: Supplied Dubai Sotheby's International Realty has brokered the sale of a residential plot on Palm Jumeirah for Dhs365m ($100m), setting a new record for the island's most expensive land transaction in 2025. The 90,036 square feet freehold plot occupies a coveted frond tip position — among the rarest land sites on Palm Jumeirah — with unobstructed views of Bluewaters Island, and the Dubai Marina skyline. With most of the island already developed, prime land opportunities have become increasingly scarce, fueling demand from developers and ultra-high-net-worth individuals (UHNWIs). Read: George Azar, Chairman and CEO of Dubai Sotheby's International Realty, said the deal underscores Palm Jumeirah's status as a premier destination for global wealth. 'The sale of this rare frond tip plot highlights the enduring prestige of Palm Jumeirah,' he said. 'As supply continues to tighten, we expect both land and ultra-prime residence prices to rise further.' Image credit: Supplied The buyer, 25 Degrees, is a boutique developer known for producing architecturally distinctive luxury homes in Dubai's most elite neighborhoods. The company is expected to build a custom-designed residence on the site, targeting the emirate's growing market for bespoke ultra-luxury homes. Surging prices, strong investor confidence Leigh Borg, Executive Partner at Dubai Sotheby's, represented the seller in the transaction. 'This site offers a rare opportunity to deliver a landmark property,' Borg said. 'In today's competitive luxury market, originality and visionary design are crucial.' The landmark deal follows a record-setting trend in Dubai's high-end real estate market. In December 2024, Dubai Sotheby's also facilitated the Dhs130m ($35.4m) sale of a five-bedroom Signature Villa at Six Senses Palm Jumeirah — one of the world's top ten most expensive branded residences sold that year. According to Dubai Sotheby's data, Palm Jumeirah has seen land prices climb by 18.92 per cent between January and May 2025, even as transaction volumes declined by 14 per cent. The surge in value reflects growing interest from both developers and international buyers seeking secure investments and waterfront living. Data from the Dubai Land Department supports this upward trend, with over 7,700 plots transacted in the first 100 days of 2025 alone. The figures highlight strong investor confidence and sustained momentum in Dubai's luxury market, particularly in limited-supply zones like Palm Jumeirah. Dubai Sotheby's International Realty continues to lead the ultra-prime property sector in the region, facilitating marquee transactions that reflect Dubai's position as a global hub for elite real estate investment.
Khaleej Times
4 days ago
- Business
- Khaleej Times
Dubai: Mega Palm Jumeirah plot sells for staggering $100 million
In another record in Dubai's booming ultra-luxury real estate market, a prime residential plot on Palm Jumeirah has been sold for a staggering Dh365 million ($100 million). This transaction marks the highest-value land deal recorded on the iconic island in 2025, underscoring its enduring appeal to the ultra-high-net-worth market. Dubai Sotheby's International Realty. Spanning 90,036 sq. ft., the plot occupies a coveted 'frond tip' position – a rarity on Palm Jumeirah, where most land has already been developed and freehold plots are tightly held. Boasting uninterrupted views across the Arabian Gulf, Bluewaters Island, and the Dubai Marina skyline, the property offers an unparalleled blend of absolute privacy and breathtaking, iconic panoramas. George Azar, Chairman & CEO of Dubai Sotheby's International Realty, which brokered the sale, said: 'Palm Jumeirah unequivocally remains the ultimate address for Dubai's global elite. The sale of this exceptionally rare frond tip plot emphatically underlines the enduring prestige of the island and the intense demand for unparalleled ultra-prime waterfront living. As prime inventory continues to tighten, we anticipate land values and bespoke mansion prices will appreciate significantly in the years to come.' This landmark deal is indicative of a broader trend witnessed throughout 2025, as Dubai continues to achieve unprecedented milestones in its real estate sector. In December 2024, Dubai Sotheby's International Realty also facilitated the sale of a five-bedroom beachfront Signature Villa at Six Senses Palm Jumeirah for Dh130 million ($35.4 million), a transaction that ranked among the top ten most expensive branded residences sold globally in 2024. Land plots, in particular, are experiencing exceptionally robust demand as both developers and ultra-high-net-worth individuals (UHNWIs) seek to create bespoke residences within Dubai's most prestigious enclaves, driven by the continued influx of UHNWIs to the emirate. According to Dubai Sotheby's International Realty, for January-May 2025, Palm Jumeirah has seen prices surge by 18.92 per cent, despite a 14 per cent dip in transaction volume, highlighting the intense value appreciation in this exclusive market. Data from the Dubai Land Department reveals that over 7,700 plots were transacted within the first 100 days of the year alone, underscoring this intense market activity. Leigh Borg, Executive Partner at Dubai Sotheby's International Realty, exclusively represented the seller in this significant transaction. The buyer, 25 Degrees, is a premier luxury property developer renowned for crafting architecturally significant, ultra-bespoke residences across Dubai's most elite enclaves. 'The demand for super-prime real estate in Dubai is truly extraordinary, and the appetite for exclusive, meticulously crafted residences has never been stronger,' stated Leigh Borg. 'In today's highly competitive market, developers must differentiate themselves through unparalleled originality and visionary design. This extraordinary plot presents 25 Degrees with a once-in-a-generation opportunity to deliver a truly iconic residence, poised to set a new benchmark for ultra-luxury living on the Palm.'
CBS News
30-05-2025
- Business
- CBS News
1 year later, how is Sacramento addressing backyard encroachments onto city property?
SACRAMENTO — It's been one year since a viewer reached out to CBS Sacramento about the encroachments on city property happening along the Niños Parkway in south Natomas. The area is between San Juan and West El Camino Avenue, where people have been extending their backyards beyond their backyard fence lines. "There's one guy that always takes his lawn mower and goes up and down trying to keep Niños Parkway trimmed up, at least," said Annette Emery, who lives along the parkway. Many neighbors' main concern with the space has been over fire danger, but they have extended their backyards to the point where some have poured concrete to create basketball courts and batting cages. "Back in the day, the City of Sacramento allowed us to do planter boxes," Vice Mayor Karina Talamantes said. Talamantes told CBS13 that after reviewing the long history of the parkway, she wants to bring that program back, where they will charge people a yearly property tax fee to plant beyond their fence lines. They would not be allowed to create permanent structures, and anyone on the path would need to have access to the space. "What's most important to me is figuring out a solution that can work for the city, the city park's department and for neighbors," said Talamantes. Early in June 2024, Talamantes told CBS 13 that the city would be sending enforcement letters to neighbors with encroachments. She claims those letters were sent, but neighbors told CBS13 they never received them. George Azar has an encroachment along the parkway and spoke with us last summer. "I think, if anything, they should maybe be reimbursing some of these homeowners who are maintaining and allowing the public to use it," said Azar last July. Back then, he showed CBS13 his backyard extension that pretty much looked like a park with a bench and concrete from where a basketball court once was. CBS13 spoke with him again, nearly a year later, and he said he finds the plan to have them pay a fee to maintain city property "ridiculous." "We're in a budget deficit right now, the City of Sacramento," said Talamantes. "If people are willing to step up and plant some beautiful mustard seeds or plants, then why not?" Talamantes plans to submit the proposal by next week. She said the fee used to be $25 a year and expects it could range from that to $75. The city attorney will need to look over liability concerns. Neighbors are highly concerned about fire danger and said that city crews mowed down the brush about a month ago, but it is already growing back quickly. CBS13 put in a request with the city to see if it plans on doing any more vegetation management along the parkway before the summer heat.
