Latest news with #commercialrealestate
Zawya
an hour ago
- Business
- Zawya
Omniyat unveils $980mln ultra-luxury project in Dubai
UAE - Omniyat, a leading developer in Dubai's luxury real estate landscape, has launched Lumena, an ultra-luxury commercial development located on Sheikh Zayed Road in the Burj Khalifa district, at the intersection of Business Bay and Downtown Dubai. A work of architectural mastery where every line draws upward, and every space is designed to inspire clarity, confidence, and command, the 48-storey tower will set a new benchmark for workplace environments in the region upon its completion in Q4 2029. Lumena, which boasts a Gross Development Value of AED3.6 billion, was yesterday (June 18) launched at the Museum of the Future with a stunning sound and light show. Its architectural model will be on display at Studio 12 at The Opus by Omniyat from 19-22 June, providing a glimpse into the future of Dubai's commercial spaces, it stated. Founder and Executive Chairman Mahdi Amjad said: "Lumena is the future of commercial real estate in Dubai. With its location, design, and integrated amenities, we are creating a new paradigm for commercial real estate that aligns with how the next generation of leaders want to work and live." "Leveraging technology, innovation and future-proof design, Lumena's sculpted form reflects both architectural brilliance and the effortless flow of ideas, ambition, and enterprise. This exceptional project reflects Omniyat's ongoing commitment to shaping the commercial landmarks of tomorrow," he stated.. Drawing from the Latin word 'lumen' for illumination and 'ena', a Japanese word suggesting blessing, Lumena symbolises clarity, purpose, and forward momentum. The tower's design integrates panoramic views with natural materials and biophilic elements, bringing light, greenery, and airflow into the workspace to promote wellbeing, productivity, and performance. Every element, from its sculpted façade to double height glazing and natural textures, is engineered for both form and function. With its slender form and elevated architectural profile, Lumena is strategically designed to maximise views of Burj Khalifa, Downtown Dubai, and Jumeirah Beach. A series of cantilevered structures throughout the tower introduces unique vantage points and shared amenities that enhance the experience for all occupants. Uniquely located near Business Bay metro station, it is well connected to Dubai's prime business, retail and lifestyle hubs. Close to Downtown and Burj Khalifa, it is minutes away from major attractions, yet with its soaring form, also boasts Jumeirah, Burj Al Arab & ocean views. Lumena brings together functional precision and spatial sophistication. The tower comprises 91 shell-and-core office units across three categories: 59 offices (three per floor plate), 30 half floor offices (two per floor plate), and 2 full-floor offices, said Amjad. With an internal office area of 582,184 sq. ft., Lumena is engineered for optimal efficiency, featuring flexible floorplates with minimal columns, a rear-core layout, and clear ceiling heights of 3m within office spaces. Units are offered with full fit-out flexibility, so buyers and tenants can customise layouts, while a palatial use of space, including high ceilings and full height windows, ushers openness and light, he stated. Lumena is strategically located just 10 minutes from Burj Khalifa and 13 minutes from Dubai International Airport, with dual vehicular access points. It offers over 1,000 parking spaces, including designated areas for office use, retail operations, and visitors.
Bloomberg
2 hours ago
- Business
- Bloomberg
Stanhope, Cheyne Near Deal to Buy LandSec's Prime London Project
Land Securities Group Plc is in discussions to sell Red Lion Court, a prime London commercial development, as part of its plan to dispose of £2 billion ($2.7 billion) worth of office assets and redeploy those funds into retail and housing instead. Alternative asset manager Cheyne Capital Management and developer Stanhope are expected to team up to buy the Southwark property overlooking the City of London, people familiar with the matter said, asking not to be identified discussing non-public information.
Arabian Business
16 hours ago
- Business
- Arabian Business
OMNIYAT redefines Dubai's commercial landscape with the launch of ultra-luxury project
Dubai's iconic and constantly evolving skyline gets a new addition. Known for its artistic and visionary projects, OMNIYAT, one of the leading developers in the country, unveiled its latest project, Lumena, at the Museum of the Future. With a Gross Development Value of AED 3.6 billion, Lumena is the latest in a series of high-end developments by OMNIYAT. 'Lumena is the future of commercial real estate in Dubai. With its location, design, and integrated amenities, we are creating a new paradigm for commercial real estate that aligns with how the next generation of leaders want to work and live,' said Mahdi Amjad, Founder and Executive Chairman at OMNIYAT. Located on Sheikh Zayed Road in the Burj Khalifa district, at the intersection of Business Bay and Downtown Dubai, Lumena aims to offer executive-grade office space that caters to what OMNIYAT describes as the next era of business leadership. 'Sheikh Zayed Road, particularly the Burj Khalifa District, is emerging as Dubai's new power corridor and Lumena is designed to lead that transformation,' said Amjad. 'With Lumena, OMNIYAT isn't just observing the shift—we're defining the next centre of gravity for business in the city'. Ultra-luxury offices with panoramic views The tower comprises 91 shell-and-core office units across three categories: 59 offices (three per floor plate), 30 half floor offices (two per floor plate), and 2 full-floor offices. With an internal office area of 582,184 sq. ft. Designed with flexible floorplates, high ceilings, and floor-to-ceiling glazing, the building emphasises openness and adaptability. The structure features a series of cantilevered elements designed to offer panoramic views of Dubai's landmarks, including the Burj Khalifa and Jumeirah Beach. The building also integrates biophilic elements, natural textures, and airflow mechanisms aimed at enhancing the interiors. Innovation and sustainability are at the core of Lumena's design. The project is targeting multiple world-class certifications, reflecting its commitment to sustainability, occupant well-being, and technological integration, including LEED Platinum certifications, Platinum WELL Building Standard™, Platinum WiredScore, and SmartScore. 'Leveraging technology, innovation, and future-proof design, LUMENA's sculpted form reflects both architectural brilliance and the effortless flow of ideas, ambition, and enterprise. This exceptional project reflects OMNIYAT's ongoing commitment to shaping the commercial landmarks of tomorrow,' said Amjad. Luxury is incomplete without the amenities that follow. It's not just architecture that sets Lumena apart. Its amenities rival five-star resorts: a Sky Pool suspended above the city, an Executive Wellness Suite for elite performance and recovery, private lounges, concierge-run meeting rooms, and a Sky Theatre poised to host high-level forums and product launches, all signal a future where work and well-being are inseparable. A curated retail podium will also include fine dining, wellness services, and retail outlets aimed at both building tenants and the surrounding Business Bay and Downtown Dubai communities. Amjad said the launch of Lumena follows a growing demand for high-specification workspaces. 'At OMNIYAT, we follow the signals of global capital and regional ambition. The success of Enara confirmed a clear appetite for workspace environments that match the elevated lifestyle of today's decision-makers. Lumena is our answer to that, a tower crafted for the next era of business leadership'. As per Amjad, these developments are aimed at a clientele that includes senior executives, family offices, and innovation-driven enterprises. 'Clients that value discretion, design, and digital readiness. These are C-suite visionaries, family offices, and innovation-driven enterprises. At AED 3.6 billion GDV, Lumena meets a demand that's not defined by budget, but by belief in quality and long-term value'. OMNIYAT's latest landmark in Dubai The tower's location near Business Bay Metro Station and its proximity to Dubai International Airport (13 minutes by car) are key selling points. With direct vehicular access and over 1,000 parking spaces, the development is positioned for connectivity. 'Connectivity is one of the project's strongest USPs: we're at the nexus of Business Bay and Downtown, directly linked to the metro, minutes from the airport, and surrounded by Dubai's most strategic commercial, retail, and lifestyle destinations,' said Amjad. As Dubai continues to attract global investors, high-net-worth individuals, and multinational corporations, demand for premium office space with integrated amenities is increasing. OMNIYAT's recent developments, including The Opus and Enara, have tapped into this trend by offering commercial real estate that combines architectural design with lifestyle features. Lumena appears to be an extension of this strategy, emphasising design, wellness, and service. 'Lumena is more than a building, it's a vision sculpted in light, wellness, and future-proofed ambition,' said Amjad. 'It reflects the values that define OMNIYAT: precision, purpose, and pushing the boundaries of what's possible. As with every masterpiece we deliver, we're not here to follow trends, we're here to set new standards'. Lumena's architectural model is available for public viewing at Studio 12 at The Opus by OMNIYAT from June 19–22. Brand View allows our business partners to share content with Arabian Business readers. The content is supplied by Arabian Business Brand View Partners.
Zawya
17 hours ago
- Business
- Zawya
India's central bank eases provisioning rules for infrastructure loans
India's central bank said on Thursday it would require lenders to set aside 1% of the value of loans for under-construction infrastructure projects to cover potential losses, easing its earlier draft proposal that envisaged provisioning rising up to 5%, following an appeal by lenders. The requirement will come into effect on October 1. Long delays in implementing projects and optimistic revenue projections have led to large loan defaults in India and made lenders wary of the infrastructure sector. The Reserve Bank of India proposed in May last year that lenders should set aside 5% of the loan value for an infrastructure project being built to cover risks. However, lenders said that could dampen a recovery in project finance. The RBI, under governor Sanjay Malhotra, has taken several steps to ease credit requirements to try to stimulate growth. Since January, the central bank has partially reversed tighter rules for bank loans to small borrowers and non-bank lenders, eased rules for small-ticket gold loans, and begun unwinding curbs on non-bank financial companies and banks. Under the new rules, lenders will also have to set aside 1.25% of the value of loans for under-construction commercial real estate projects. The rules also limit extensions to project completion deadlines, or the date of starting commercial operations, to three years for infrastructure projects and two years for non-infrastructure projects. Lenders have the flexibility to approve extensions within these limits based on commercial assessments, the RBI said. Projects that have already secured financing will continue under the existing provisioning regime to ensure a smooth implementation, the RBI added. A M Karthik, senior vice president and co-group head, financial sector ratings, at ICRA, said the new rules were likely to have a limited impact as provisioning levels are comparatively close to the new requirements, and they do not apply retrospectively. (Reporting by Siddhi Nayak and Swati Bhat. Editing by Rachna Uppal and Mark Potter)
Yahoo
a day ago
- Business
- Yahoo
Talonvest Secures $17.8M in Financings for a Four-Property Portfolio
Tierra Corporation NEWPORT BEACH, CA, June 18, 2025 (GLOBE NEWSWIRE) -- Talonvest Capital, Inc., a boutique commercial real estate mortgage brokerage firm, is pleased to announce the successful closing of a $17,800,000 refinance loan on behalf of Tierra Corporation for a four-property self storage portfolio located across high-demand markets in Southern California and Arizona. The portfolio includes properties in Riverside, Redlands, and Indio, California, as well as Yuma, Arizona. In total, the facilities span 377,939 net rentable square feet and comprise 2,252 non-climate-controlled drive-up units, 25 climate-controlled units, 4 manager units, and 198 RV parking spaces. The non-recourse, CMBS execution loan was structured with a sub-6% fixed interest rate and 10 years of interest-only payments. Art Flaming, Principal of Tierra Corporation, commented, "Talonvest's deep lender relationships and expert execution were critical in securing favorable terms in a shifting market environment.' The Talonvest team responsible for this assignment included Eric Snyder, Britt Taylor, Mason Brusseau, and Lauren Maehler. About Talonvest Capital Inc. Talonvest Capital is a commercial real estate advisory firm specializing in sourcing cutting-edge lending programs and advising on capital market trends for industrial, self-storage, multifamily, office, and retail property owners. Talonvest Capital offers a unique boutique approach by leveraging the company's collective institutional knowledge and remaining highly engaged throughout the entire assignment, including the closing process, to deliver tailored capital solutions for their clients. Learn more at Contact:Carole StanleyTalonvest Capital, Inc.949.251-9900cstanley@ A photo accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
