Latest news with #LuxuryLiving
The National
3 days ago
- Business
- The National
Developer expects $1bn Trump Tower in Dubai to sell out by end of summer
All units at Dubai's Trump International Hotel and Tower are expected to be sold by the end of summer amid high demand from buyers, the developer has said. The $1 billion development was launched in April by Dar Global, the international property arm of Saudi Arabia's Dar Al Arkan, in partnership with the Trump Organisation, the sprawling conglomerate of the family of US President Donald Trump. The project, which is being built near Downtown Dubai on Sheikh Zayed Road, is expected to be completed in five years. The development features more than 500 homes, with two penthouses costing Dh75 million ($20.4 million) each and three to four-bedroom apartments priced between Dh4 million and Dh5 million. It also has a Trump-branded hotel and a clubhouse. 'Sales have been strong, [there has been] very good reception for the brand, for the mix and the location,' Ziad El Chaar, Dar Global's chief executive, told The National in an interview. He did not say how many units have been sold so far. 'We have approximately 40 nationalities who are investing in the project including people from India, Pakistan, the UK, some investors from Arab countries such as Saudi Arabia, Lebanon, Iraq, Kuwait, Oman and from Eastern Europe, Turkey, Romania and Russia," he added. Dubai's residential sector continues to perform strongly, with the emirate recording 17,504 transactions in May, a 15.1 per cent month-on-month increase, while total sales value for the month surged to Dh54.48 billion, up 18 per cent on the previous month, according to Betterhomes. Average price per square foot also climbed 4.5 per cent on a monthly basis to Dh1,808 in May, data shows. Strong economic growth combined with government measures such as residency permits for retired and remote workers, and an expansion of 10-year golden visa programme has helped boost the property market in the emirate. "Prices are going up because there are a lot of clear fundamentals in the market," Mr El Chaar said. "You have economic demand, you have economic attraction. You have a lot of facilitation on golden visas. These days, you have a big increase in traffic at the airport, which means people are not just speculating online, they are here, they are in the market. "At the same time, we have a lot of people who are flying from high tax areas, coming to domicile in the UAE, plus you also have new activities happening that are bringing more people to the country, especially with the gaming [resort] opening in Ras Al Khaimah." Partnership with Trump Organisation to continue Dar Global, with a property portfolio worth $10 billion in the UAE, Oman, Saudi Arabia, the UK and Spain, plans to continue building new projects in partnership with the Trump Organisation, which is managed by Mr Trump's sons, Donald Jr and Eric Trump. 'We have announced seven projects in two years [with the Trump Organisation] and this successful collaboration will continue,' Mr El Chaar said. Dar Global is currently building two new projects in Oman, a hotel and a residential development, as well as a Trump tower in Jeddah, the Trump International Hotel and Tower in Dubai and a new project in Doha that was unveiled last month. The company has also committed to building two new residential projects in Riyadh with the Trump Organisation and is expected to finalise another in the Saudi capital by the end of the year. Abu Dhabi expansion Dar Global is "aggressively pursuing" entering the Abu Dhabi market. "We are in continuous discussions with a lot of parties in Abu Dhabi to find the right project," Mr El Chaar said. "We are very much interested to launch in Abu Dhabi because we believe the market has now enough attractants to bring in the investors from outside, and some within Abu Dhabi, and we would like to put our flag in the market."
Zawya
10-06-2025
- Business
- Zawya
Driven Properties buys final Bulgari Lighthouse units for $77mln
UAE - Driven Properties, a member of the Forbes Global Properties network, has announced that it has completed the sale of the last two penthouses at the Bulgari Lighthouse on Jumeirah Bay Island in Dubai for a combined amount of more than AED282 million ($77 million). The first five-bedroom residence, spanning 11,657 sq ft, reached a whopping AED146.6 million, while the second, achieved AED136.25 million, said the company in a statement. Designed by Italian architects Antonio Citterio and Patricia Viel, Bulgari Lighthouse blends contemporary engineering with Mediterranean calm. A coral-inspired façade shields each home while framing uninterrupted views of the Arabian Gulf and Downtown's skyline, it stated. The transactions were brokered by Driven | Forbes Global Properties' Lina Allaoa and Kianoush Darban, founders of The Private Collection, the brokerage's specialist team for ultra-high-end property. The duo is well known for setting several records in the area, from the highest price per sq ft, to the most expensive villa in Jumeirah Bay Island. Terraces flow into private infinity pools, and double-height salons are finished in Italian marble, warm oak and hand-laid silk panelling, said the company. A combination of location, craftsmanship and privacy that has made Lighthouse one of the most wanted addresses in Dubai's ultra-prime market, it added. "Dubai offers our international clients two things they value most: a secure place to allocate their capital and an unbeatable way of life. Bulgari Lighthouse unites those advantages in a single address, blending sound investment with everyday opulence," remarked Allaoa. On the strategic deal, Darban said: "Scarcity drives value. With fewer than 40 residences in the tower, and amenities that rival a private resort, Lighthouse is arguably the most coveted address in Dubai." Every detail of Bulgari Lighthouse, from its infinity pool to lush Mediterranean gardens, is run by the neighboring Bulgari Resort, ensuring a highly private, tailored experience complete with a concierge who can arrange everything from sunset-lawn gatherings to a signature chef's meals, he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Arabian Business
10-06-2025
- Business
- Arabian Business
DMCC and developer break ground on 38-storey W Residences Dubai branded real estate tower in JLT
Dubai freezone DMCC has broken ground on the W Residences Dubai – Jumeirah Lakes Towers (JLT), in partnership with Signature Developers and Marriott International. The 38-storey tower will feature 185 branded residences, including one, two, and three-bedroom apartments, as well as exclusive four-bedroom penthouses. The development is designed to deliver a refined, hotel-inspired lifestyle, reflecting the bold spirit of the W Hotels brand. W Residences Dubai – Jumeirah Lakes Towers Residents will benefit from the renowned Whatever/Whenever service and a comprehensive suite of high-end amenities, including: WET deck with swimming pool and jacuzzi State-of-the-art fitness centres Yoga and Pilates studios Spa treatment rooms Barbecue pods and outdoor lounge areas Co-working spaces and a coffee bar Games room, meeting rooms, and more Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, said: 'The groundbreaking of W Residences is another milestone in the ongoing transformation of JLT into one of most dynamic and desirable districts in Dubai – bringing a total of 19 major developments to break ground or begin construction across our flagship districts of JLT and Uptown Dubai in the past 24 months. 'Through our collaboration with Signature Developers and Marriott International, this 38-storey development is set to include 185 exclusive branded residences and premium amenities including state-of-the-art gyms, yoga and Pilates studios, co-working spaces and a coffee bar. 'The introduction of this globally renowned brand to a prime location within the heart of JLT is a statement of intent as we continue to set the benchmark for luxury urban living.' This is not the first collaboration between DMCC and Signature Developers. The two entities previously partnered on The Residences JLT, completed in 2019 to critical acclaim. With Phases I and II of W Residences already sold out and strong demand expected for Phase III, the project is poised to become a defining feature in Dubai's branded real estate segment. Sandeep Walia, Chief Operating Officer, Middle East, and Luxury, Europe, Middle East and Africa at Marriot International, said: 'We would like to congratulate Signature Developers and DMCC on the groundbreaking of the W Residences Dubai – Jumeirah Lakes Towers. 'This residential development in the vibrant JLT neighbourhood combines our renowned luxury lifestyle brand, W Hotels, and experience operating branded residences with Signature Developers' legacy of innovation and exceptional quality in the real estate sector.' Jumeirah Lakes Towers is evolving as a thriving mixed-use community that combines residential, leisure, hospitality, and recreation. With walkable neighbourhoods, a growing cultural scene, and seamless access to major roads and transport, JLT is increasingly recognised as one of Dubai's most liveable communities.
Gulf Business
12-05-2025
- Business
- Gulf Business
Sobha to build massive new towers along Dubai's Sheikh Zayed Road
Sobha Central is a new development along Dubai's Sheikh Zayed Road. (Image: Supplied) Sobha Realty has launched a major new development on Dubai's Sheikh Zayed Road, unveiling plans for a self-contained, mixed-use project featuring six towers, high-street retail, green parks, and premium office space. Dubbed Sobha Central , the landmark project will feature 1,225 new one- and two-bedroom residences housed within its first tower, The Horizon, due for completion in December 2029. Sobha describes the project as a 'vertical urban sanctuary' blending luxury living, workspaces, retail and wellness – all in one central Dubai location. 'Sobha Central is a bold expression of our vision to shape the future of urban living in Dubai,' said Ravi Menon, chairman of Sobha Group. 'Strategically located on the most powerful corridor of the Middle East – Sheikh Zayed Road – this development goes beyond architecture to create a self-sustained high living community.' The development is set to further include: 250,000 sq ft of green park space 175,000 sq ft of leasable office space 160,000 sq ft of retail, including a luxury shopping mall A highlight of the design is an elevated circulation path that links all six towers, offering direct access to a gym, theatre, clubhouse, mall, restaurants, supermarkets and a Grand Hall. Outdoors, the project will feature landscaped terraces, infinity pools and private courtyards nestled within the central park. The location is set to give residents quick access to nearby hotspots such as JBR, Dubai Marina, and Internet and Media City, with Menon pointing to the area's strong real estate fundamentals: 'Recent industry reports highlight Marina, JLT and surrounding corridors among Dubai's most resilient sub-markets, recording rental yields of 7–10 per cent and consistent capital appreciation.' Sobha Central will also incorporate eco-conscious features such as energy-efficient HVAC systems, EV charging stations, double-glazed façades and district cooling. The announcement comes as Dubai's real estate market continues to surge, with developers capitalising on demand for premium, well-located residences. Sobha Realty, whose flagship community Sobha Hartland now houses more than 11,000 residents, is expanding its footprint with multiple new launches, including its first island project, Sobha Siniya Island.
