Madar Developments to expand Dubai footprint with 3 new housing projects

Zawya

6 hours ago

Madar Developments is preparing to launch three new residential projects in Dubai with an estimated value of 700 million UAE dirhams ($190.61 million), a senior company executive has told Zawya Projects.
The company aims to hand over the AED 200 million Tulip Oasis X Residences in Majan, which was launched last month, in the second quarter of 2026, said Director Eliyas Faddul.
'As we manage the construction process in-house, this enables us to bypass public tendering processes. This approach gives us a greater flexibility in controlling timelines, quality, and resources,' he said.
Faddul expects Dubai's off-plan real estate market to remain strong and stable through 2025 and 2026, driven by population growth, investor confidence, major infrastructure projects, and continued government support.
Interview excerpts:
What market factors compelled you to launch Tulip Oasis X Residences in Majan?
We identified a clear market opportunity in Majan, an area that had limited high-end residential offerings. The demand for quality living spaces was high, and with our legacy of over 35 years in engineering, construction, and real estate, we saw an opportunity to bring a refined development that sets the benchmark for modern, luxury living in Majan, as it was underserved location and primarily catered to only Emirates cabin crew. We are committed to creating functional yet luxurious spaces, which was a key factor in choosing this location for the project.
When do you intend to deliver/hand over the project?
We are targeting a handover in the second quarter of 2026, with the possibility of completion scheduled for as early as March 2026. Our track record of delivering projects on time, often ahead of schedule, has been a key part of our reputation. We remain dedicated to offering seamless customer experiences, resulting in greater customer satisfaction. This has supported us in selling out projects within two to three months of the launch, predominantly through word of mouth.
What is the tender timeline for the project?
As we manage the construction process in-house, this enables us to bypass public tendering processes. This approach gives us greater flexibility in controlling timelines, quality, and resources. By leveraging our expertise in construction, including MEP, glass & aluminium works, and extra-low voltage (ELV) systems, we ensure that Tulip Oasis X Residences will be executed to the highest standards, maintaining full oversight at every stage of the project.
When did you acquire the land for the project? Are you now seeing an increase in land prices in Majan?
We acquired the land for Tulip Oasis X Residences on 25 July 2022. Since then, we have experienced a significant growth in land values in Majan. With property prices increasing by approximately threefold, there is a growing demand in the area, making Majan an emerging residential hub for families and business professionals.
How do you intend to fund the project?
We typically fund our projects through a combination of internally retained earnings from completed developments and strategic support from our banking partners. This balanced approach ensures financial stability and timely execution throughout the project lifecycle.
Who is the project's architect? What is your project's USP in terms of design?
The architect for the project is Proline Engineering Consultants, which whom we have collaborated with for over 15 years. We are closely involved with Proline at every stage — from floor plan layouts to exterior design — ensuring the project reflects our standards, vision, and attention to detail.
The project's unique selling proposition lies in its lifestyle-focused design, offering spacious interiors and modern amenities that complement our vision of community-centric living.
What will be the sustainable elements of the project?
We are incorporating a dynamic range of sustainable features aimed at reducing environmental impact and enhancing energy efficiency. The spacious apartments are equipped with inverter AC units and fresh air handling unit systems, which significantly reduce cooling energy consumption, with energy-efficient built-in appliances.
In alignment with DEWA's green initiatives, we are also installing EV charging stations to support the growing shift toward electric mobility. These steps reflect our commitment to sustainability and future-ready living and supporting the UAE Vision 2030 initiatives.
Have you seen tender prices rise due to the UAE's booming real estate sector?
We serve as our own contractors and do not engage in the traditional bidding process. However, we have observed an overall increase in construction costs across the UAE, driven by the sector's strong performance and rising demand for materials and skilled labour. Our expertise in utilising in-house capabilities for key systems helps us navigate these challenges, ensuring we maintain high standards.
What are the biggest challenges you see in the coming years?
One of the biggest challenges for any developer is keeping up with the evolving trends in residential design, customer preferences such as changes in layout preferences, unit sizing, and the types of amenities residents expect. We combine focused market research with our decades of experience and valuable customer feedback from both past investors and prospective buyers. Our ability to balance innovation, sustainability, and the needs of the community has supported us in aligning with the evolving market needs and delivering value-driven developments.
How much landbank do you own in the UAE?
Land investment has always been an integral part of our core strategy and decision-making process. We currently own several plots in Majan and are actively exploring additional land acquisitions across Dubai.
How many projects do you plan to launch in 2025 and 2026?
Looking ahead, we are set to launch three additional residential developments with a combined estimated value of AED 700 million. This marks a significant milestone in our continued expansion, reinforcing our commitment to delivering high-quality living spaces and strengthening our market presence. These projects reflect Madar's commitment to quality construction, sustainable development, and community-centric living.
Are there plans to enter other Emirates and markets in the Middle East?
The Dubai real estate sector is booming, and we see tremendous potential to leverage our expertise across the other Emirates. Currently, our focus remains on enhancing our footprint in Dubai. As part of our long-term vision, we aim to bring our value proposition across countries in the Middle East region.
What is your outlook on the real estate market in the UAE, particularly Dubai's off-plan market, for 2025 and 2026?
Dubai's off-plan real estate market is expected to remain strong and stable through 2025 and 2026, driven by population growth, investor confidence, major infrastructure projects, and continued government support. We believe the market will continue to offer a steady and positive environment for developments and investment in the coming years.
(Reporting by P Deol; Editing by Anoop Menon)
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