Latest news with #JumeirahVillageCircle
Zawya
6 hours ago
- Business
- Zawya
Al Tareq Star officially launches Norah Residence in the heart of Jumeirah Village Circle, Dubai
The project is scheduled for handover by the end of Q2 2027 Dubai, UAE: Al Tareq Star, a leading real estate developer with a wide range of businesses and activities in Saudi Arabia, has announced strategic expansion plans in the United Arab Emirates. These plans include launching a portfolio of real estate development projects across key locations in the country. As part of this expansion, the company has officially launched its first residential project in Dubai – Norah Residence – a smart and contemporary residential development in the heart of Jumeirah Village Circle, one of the city's fastest-growing residential areas. The launch event was attended by key investors, industry stakeholders, and members of the media. The event showcased the project's development vision, design philosophy, and unique features. Located in Jumeirah Village Circle, Norah Residence enjoys a strategic position in the heart of Dubai, making it one of the most desirable residential destinations. The area is known for its high rental returns, increasing end-user demand, and strong appeal as a high-yield investment option for those seeking quality living, comfort, and community connection. The location also provides easy access to key highways including Sheikh Mohammed Bin Zayed Road, Al Khail Road, and Hessa Street, ensuring strong connectivity to Dubai's main destinations. The neighbourhood offers a growing mix of restaurants, cafés, retail centres, wellness and fitness facilities, and is home to popular hospitality destinations such as FIVE JVC. Norah Residence was developed in collaboration with the award-winning architectural firm NAGA Architects, renowned for its distinguished design work. The project includes 183 carefully designed units ranging from studios, one-bedroom, two-bedroom, two-bedroom duplex, and three-bedroom duplex apartments, catering to a wide variety of lifestyle needs. The development combines smart home technologies with refined interior designs and provides a distinctive lifestyle experience. Residents enjoy access to recreational facilities including a cinema lounge, café, gym, yoga hall, and a children's play area. The units offer peaceful views overlooking the pool, Halfa Park, and the panoramic skyline featuring the iconic FIVE JVC hotel. Unit prices start at AED 650,000, with a special 40/60 payment plan, offering an attractive investment opportunity for both residents and investors seeking long-term value in Dubai's real estate market. The project is scheduled for handover by the end of Q2 2027. Mrs. NORAH BINT TAREQ BIN ALI AL TAMIMI, Vice Chairperson of Al Tareq Star, said: 'At Al Tareq Star, we believe that housing goes beyond walls and structures. It creates a complete environment that supports growth and wellbeing. With Norah Residence, we were committed to delivering an urban model that reflects a modern quality of life. This project embodies our vision and mission to build contemporary communities.' With a strong legacy of over 80 years of combined experience in Saudi Arabia, Al Tareq Star continues to lead as a developer that merges cultural depth with innovation in modern design. Norah Residence marks the company's latest milestone and its debut project in Dubai.
Arabian Business
a day ago
- Business
- Arabian Business
Dubai's housing strategy works for the 1% – and the 99%
On one side, a magnet for the ultra-wealthy, Dubai's luxury market dazzles with sky-high towers, private islands, and exclusive communities. On the other, a fast-growing segment of remote workers and digital nomads seek affordable, flexible living arrangements. Distinct yet intertwined, these two worlds shape the city's evolving real estate story in ways that reveal Dubai's unique position on the global stage. A tale of two markets A recent Knight Frank report reveals that Dubai held its title as the world's most active market for homes valued above $10 million for the second year running, recording 435 sales in the luxury segment throughout 2024—almost equal to the combined sales of London and New York. This segment values bespoke experiences, private pools, concierge services, and exclusive golf courses are staples that satisfy buyers craving distinction. Conversely, a new breed of residents has been reshaping demand with radically different priorities. Digital nomads and remote workers, often younger and more mobile, prize flexibility over extravagance. Co-living spaces, furnished apartments, and short-term leases dominate their choices. Dubai's government initiatives, such as the Virtual Working Program launched in 2021, have attracted thousands to settle in the city temporarily. Neighbourhoods like Dubai Internet City, Jumeirah Village Circle (JVC) and Al Quoz thrive as vibrant hubs offering affordable options combined with fast internet and easy access to co-working facilities. Shifting consumer needs redefine value The rise of the digital nomad signals a broader change in how people value real estate. For many in this cohort, location is less about proximity to business districts or landmarks and more about community, lifestyle, and adaptability. Their choices often emphasise shared amenities, social engagement, and urban vibrancy. This contrasts sharply with the ultra-wealthy, for whom exclusivity and seclusion form the essence of value. Developers and investors face a balancing act. Catering exclusively to luxury buyers risks overlooking a swelling demographic seeking attainable options. Meanwhile, focusing solely on affordability without quality and lifestyle risks alienating aspirational residents. Dubai's real estate market is bridging this divide, with mixed-use developments like City Walk and District 2020 integrating high-end residences alongside flexible workspaces and community-driven environments. Balancing exclusivity with inclusivity Dubai's real estate success depends on weaving inclusivity into a fabric historically defined by exclusivity. The city's strategic vision acknowledges that prosperity thrives through diversity. Fostering developments that welcome both the ultra-wealthy and the digital nomad, Dubai leverages the strengths of both markets. Take Bluewaters Island, a luxury destination featuring upscale residences, hotels, and entertainment, yet seamlessly connected to the broader city via public transport and pedestrian-friendly pathways. Such an integration invites a wider audience to participate in the lifestyle while preserving the allure of exclusivity. Meanwhile, districts like JVC cater to mid-income residents and remote workers with affordable villas and apartments that offer community spaces and access to retail and leisure amenities. This dual approach strengthens the city's resilience. It cushions market fluctuations by diversifying demand and fuels innovation as different resident profiles bring varied economic activity and cultural influences. The co-existence of exclusivity and inclusivity becomes a driver of sustainable growth rather than a source of conflict. A bridge between two worlds Few cities combine global luxury appeal with a progressive digital workforce as effectively as Dubai. Its geographic location, robust infrastructure, and open economy create a unique gateway connecting East and West, tradition and innovation, wealth and accessibility. The digital nomad trend, while global, finds fertile ground in Dubai due to supportive policies, a thriving startup ecosystem, and world-class amenities. In parallel, Dubai's luxury real estate maintains its position as a haven for capital and lifestyle investment amid shifting geopolitical and economic tides. Globally, cities like London and New York have witnessed similar dualities but struggle with affordability crises and fragmented policy responses. Dubai's ability to strategically nurture both ends of the spectrum offers a model for sustainable urban evolution. A new social contract The co-existence of billionaire playgrounds and digital nomad havens signals a new social contract where diverse aspirations are validated within one cityscape. Urban planners and developers must embrace this complexity as a strength. Designing spaces that encourage interaction between different socio-economic groups could spark innovation and foster empathy. The future belongs to cities that understand how to weave diverse lifestyles together in a smooth and balanced way.
Khaleej Times
2 days ago
- Business
- Khaleej Times
Nisus Finance considers Dh669 million more investment in Dubai's real estate
Nisus Finance Investment Consultancy FZCO (NiFCO Dubai), a fully-owned subsidiary of Nisus Finance Services Company Limited (NIFCO), announced the investment of Dh183 million in two properties in Dubai while it is currently actively evaluating investment to the tune of Dh669 million in new properties. The company is looking forward to a four-fold growth in its assets under management (AUM) that jumped 55 per cent to Rs15.72 billion ($183.85 million) in the financial year ending March 31, 2025, from Rs10.12 billion ($118.35 million) in FY2024. Around 29 per cent or Rs4.55 billion ($53.21 million) of the AUM came from its operations in the UAE. NiFCO has also engaged M/S Houlihan Lokey to raise global capital for the UAE and India funds, while it has sanctioned $68 million (Dh250 million) for investment in Dubai. It is in advanced discussions for a further $200 million (Dh730 million) credit limit to deploy in the UAE's high-growth real estate market that will fuel the sector's growth. In addition, NiFCO is in advance stage of discussions on the deployment of a further $200 million (Dh730 million) from two prominent global funds. These funds, once deployed, will increase the company's investment by $468 million (Dh1.71 billion) this year. In 2024, NIFCO Dubai invested a total of Dh183.35 million including Dh93.85 million in a project located at the Jumeirah Village Circle (JVC) while it invested a further Dh89.5 million in a property in Furjan Dubai. 'We have already invested Dh183 million in two residential properties in Dubai and are actively evaluating Dh669 million (Rs15.55 billion) in investments across residential and commercial projects in prime Dubai locations like JVC, Al Barsha, Sports City, and DIP. These strategic moves aim to unlock high-yield opportunities and fuel strong growth,' Amit Goenka, Chairman and Managing Director of Nisus Finance Group (NiFCO), says. 'We are currently looking at bigger and more lucrative opportunities in the UAE and the GCC where the opportunities are growing and we want our investor community to benefit from these opportunities.' Nisus Finance meanwhile, reported a 35.5 per cent year-on-year growth in profit after tax reaching Rs325.8 million ($3.81 million) in the financial year ending March 31, 2025, compared to Rs240.5 million ($2.81 million) recorded in FY2024, on Rs673 million ($7.87 million) revenue which jumped 65 per cent, compared to Rs430.4 million ($5.03 million) recorded in the previous year, due to strong growth in its UAE business carried out through its UAE subsidiary Nisus Finance Investment Consultancy FZCO (NiFCO Dubai). The company's total assets jumped to Rs1.79 billion ($20.93 million), up from Rs491 million ($5.74 million) in FY2024. The company reported a 42.3 per cent Return on Capital Employed (ROCE) while Return on Investment (ROI) reached a healthy 33.3 per cent in the last financial year when its Net Worth reached Rs1.61 billion – reflecting a robust performance. The company's Revenue-to-AUM ratio stood at 4.3 per cent while Earnings per Share (EPS) reached Rs16.31 and Net Asset Value per Share reached Rs67.31. Nisus Finance last year made some successful marquee exits. It had earlier invested in one of India's first self-redevelopment project in Mumbai. The project, managed by Trilogy Developers, merges two societies into a mixed-use development. Last year, it exited from the project with 21 per cent IRR while it also unlocked value with high-yield exit under its Real Estate Special Opportunities Fund (RESO) 1 from a wholly-owned subsidiary of Shapoorji Pallonji Real Estate at 18.74 per cent IRR. The company also divested from two projects in Bengaluru, achieving a 19 per cent IRR through its Real Estate Credit Opportunities Fund (RECOF) 1. NIFCO also exited from Plotted Development Project Treasure Hills by Treasure Group in Indore with 19 per cent IRR. 'Our FY25 performance reflects the strength of our core platform—lean, profitable, and execution-focused. With the IPO success, we are well-positioned to accelerate strategic growth in FY26 and beyond,' Amit Goenka says. 'Robust AUM growth, diversification of revenue base and strengthening of the India and UAE team, enhancing execution and delivery capabilities have been our key growth drivers, supported by targeted expenditure in marketing and brand building during the Initial Public Offering ((IPO) phase, supporting long-term brand equity and visibility have helped us to record such impressive growth.' In India, investments worth Rs10 billion are under evaluation across high-growth cities like Mumbai, Pune, Bengaluru and Indore covering both performing credit and special situations. The firm aims to drive strong returns and manage risk through strategic market selection and asset diversification. 'In the FY2026, our objective is to achieve Rs40 billion ($467.81 million) with total income ranging from Rs1.2 billion to Rs1.4 billion ($16.37 million) while we remain on target to become a global asset manager with $$1 billion AUM by 2028 through blue ocean strategies to drive multi-dimensional revenue streams by providing investment opportunities across capital stacks,' Amit Goenka says. Nisus leverages a decade of experience, utilising local market expertise and proprietary data to capitalise on emerging trends and consistently deliver superior risk-adjusted returns. NIFCO specialises in urban infrastructure financing and private capital market transactions. The company, along with its subsidiaries and associates, focuses on two main areas: Fund & Asset Management and Transaction Advisory Services. With over a decade of experience in India, Nisus manages Rs15.72 billion in assets for FY 2025, to deliver gross IRR of more than 19 per cent. The Company's RESO fund has been awarded an 'Excellent' rating by Care Edge Advisory, recognising its strong focus on diversified AIF funds and asset management. The company got listed on BSE SME platform on December 11, 2024.
Zawya
2 days ago
- Business
- Zawya
Solena The Orchard Place, Dubai's Premier European-inspired community with a GDV of AED850mln
A thoughtfully designed community for professionals and families seeking European craftsmanship, timeless elegance, and Mediterranean-inspired living Phase 3 introduces Solena at The Orchard Place, adding over 400 residences and elevating Dubai's largest European-style neighbourhood, with a GDV of over AED 300 million New residences feature rooftop gardens, private plunge pools, and an extensive range of lifestyle amenities for elevated modern urban living Dubai, UAE - Peak Summit Real Estate Development LLC, in partnership with Refine, its associates, and Driven | Forbes Global Properties, has unveiled Solena at The Orchard Place, the third and final phase of the largest European-inspired residential community in Jumeirah Village Circle (JVC). This latest chapter in the development introduces two new residential towers, Towers D and E, adding over 400 European-inspired homes to the heart of District 12 in JVC. Inspired by the words 'Sol' and 'Soleil,' meaning sun and serenity, Solena is a Mediterranean name that evokes warmth, light, and calm, perfectly capturing the spirit of this thoughtfully designed addition to The Orchard Place. It builds on the vision of bringing timeless European design and practical livability to Dubai's residential landscape. With a Gross Development Value (GDV) of over AED 300 million, Solena builds on the successful momentum of earlier phases one and two, which launched in October 2023 and May 2024, respectively. Together, all three phases now represent a combined GDV of AED 850 million with more than 1,100 residential units. Like the previous phases, this new release continues the project's commitment to timeless design, functionality, and quality finishes. Each residence in this new phase has been thoughtfully crafted to balance luxury and liveability, comprising an extensive collection of studios, one and two-bedroom apartments, duplex townhouses, and three-bedroom penthouses. Signature features include private plunge pools in selected one and two-bedroom units, expansive balconies and landscaped terraces, and for penthouses, rooftop gardens that offer panoramic skyline views. The interiors are curated with a harmonious blend of materials featuring wooden finishes, bespoke stonework, warm lighting, and contemporary European fixtures, all designed to reflect timeless sophistication and refined comfort. Set amidst landscaped parkland and surrounded by green open spaces, The Orchard Place offers residents a tranquil escape within one of Dubai's most accessible neighbourhoods. Downtown Dubai, Dubai Marina, Mall of the Emirates, and Dubai International Airport are all just 20 to 25 minutes away. With top-ranked schools, nurseries, and Circle Mall nearby, the development appeals to families and long-term investors alike. Connectivity is set to improve further with the upcoming extension of the Metro Blue Line, which will add a new station in JVC, linking residents directly to key destinations across the city. Sergii Voronovych, CEO and Founder of Peak Summit Real Estate Development LLC, commented: 'Solena represents a pivotal milestone in our vision for The Orchard Place. We have created more than a residential community; we've curated a way of life inspired by the richness of European culture, where architecture, landscape, and community intersect. The response to our earlier phases affirmed that Dubai's market is ready for developments that combine emotional resonance with design integrity. Solena at The Orchard Place is the next evolution of this vision.' Thomas Wan, Managing Partner, Refine Development Management, added: 'What sets Solena apart is how it responds to what buyers in today's market are looking for: liveable layouts, superior European quality finishes, and a location that's both connected and peaceful. Solena at Orchard Place is ideal for both end-users and investors who recognise the value of a luxury home that gets the fundamentals right.' Beyond its residences, Solena will offer a full suite of amenities designed to nurture wellbeing and community spirit. These include a 25-metre infinity pool with sunken loungers, outdoor barbecue areas, children's play zones, landscaped gardens, a fully equipped gym with a yoga terrace, a padel tennis court, steam rooms, a kindergarten, and thoughtfully designed communal areas for residents to gather and connect. Lobby spaces are finished to a hotel concierge standard, setting the tone for a lifestyle rooted in comfort, quality, and understated luxury. Construction at Solena is scheduled to commence this summer, with completion expected by July 2028. Prices for residences in this phase start from AED 720,000, offering a compelling opportunity for buyers seeking both quality of life and long-term investment potential in one of Dubai's fastest-growing residential zones. Driven | Forbes Global Properties Driven | Forbes Global Properties, a leading real estate brokerage based in Dubai, UAE, has consistently demonstrated excellence in acquisitions with a focus on luxury properties. As a member of Forbes Global Properties, an exclusive consortium of the world's top 100 real estate firms, Driven | Forbes Global Properties stands as a trusted partner for investors and buyers in Dubai's competitive real estate market. Refine Empowering development, Refine is the leading fully-integrated development management company in the UAE. Offering a wide range of services to developers across the UAE, GCC and internationally, Refine pioneers the DaaS (Development-as-a-Service) solution, empowering fellow developers and investors with a simpler process for better results.
Mid East Info
3 days ago
- Business
- Mid East Info
Rabdan Developments Accelerates Growth with the Launch of 'Rabdan Gates' After the Resounding Success of 'Gharbi 2'
Building on the exceptional momentum of its 'Gharbi 2' project, Rabdan Developments has unveiled its newest residential offering — Rabdan Gates — which achieved a staggering 80% sell-through rate within the first 24 hours of launch. This achievement underscores Rabdan's strategic vision as a premier Emirati real estate developer, widely recognized for delivering high-caliber developments ahead of schedule and offering flexible payment solutions tailored to today's diverse buyer profiles. In a recent announcement, the company revealed plans to launch two upcoming projects in two of Dubai's most sought-after districts: Meydan and City Walk. These expansions reflect Rabdan's continued commitment to strengthening its portfolio in prime locations that consistently attract high investor interest and lifestyle-oriented buyers. Rabdan is further cementing its presence in Dubai's fast-evolving real estate landscape, particularly in high-growth communities such as Arjan, Jumeirah Village Circle (JVC), and Dubai South. With a steadfast focus on delivering residences that embody architectural sophistication, construction excellence, and dependable service, Rabdan continues to earn the confidence of both local and international investors. For more information please visit:
