
REEF Luxury Developments launches REEF 998 in DubaiLand
By
The project will offer 323 residences ranging from studios to three-bedroom apartments, and each unit features REEF's region-first patented outdoor cooling technology
REEF Luxury Developments has unveiled its new US $122.5mn REEF 998 project, which is billed as an architecturally advanced residential community. Spanning 355,663sqft, REEF 998 is designed to be a contemporary living focused project and is scheduled for handover in Q2 2028.
The project will offer 323 residences ranging from studios to three-bedroom apartments, each unit features REEF's region-first patented outdoor cooling technology and Sunken Balconies, ensuring year-round outdoor living comfort. Dubailand's growth potential is significantly enhanced by the anticipated metro connectivity and its alignment with Dubai's 2040 Urban Master Plan. REEF 998 emerges investment opportunity at this opportune moment, offering investors and homeowners a rare combination of innovation, luxury, and sustainable value in one of the UAE's most promising communities, said a statement.
'These elegant homes in DLRC are long-term investment assets that answer a clear market need,' said Samer Ambar, CEO of REEF Luxury Developments. 'In Dubai's thriving property market, REEF 998's livable innovation and design resilience really sets it apart. From energy efficient systems and smart technology to exclusive outdoor spaces with integrated outdoor cooling technology, we're delivering a product that meets both lifestyle aspirations and investor expectations.'
Residences range from 477 to 1,397sqft, and every home will include Bosch appliances and Grohe fittings, while the project offers resort-style amenities, home tech, and a masterplan built around community connection and green space. REEF 998 will take shape in DLRC on Hamdan Bin Zayed Road, and will enjoy dual frontage – one facade will overlook the main road, while the opposite side will overlook community parks.
REEF 998 also places sustainability at its core, using a recyclable steel structural system to boost energy efficiency and long-term durability along with REEF's patented sunken balconies with outdoor cooling – delivering value to both residents and investors, the statement concluded.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Zawya
5 hours ago
- Zawya
Fifth Avenue Financial celebrates third consecutive year as a Best Place to Work and first year as a Best Place to Work for Women in 2025
NEW YORK, US - Media OutReach Newswire - 20 August 2025 - Fifth Avenue Financial (FAF) is proud to announce its recertification as one of the Best Places to Work for the third consecutive year, as well as its inaugural recognition as a Best Place to Work for Women in 2025. These prestigious honors underscore the firm's ongoing commitment to fostering an inclusive, supportive, and empowering workplace culture. In a statement from Scott Greenfield, CEO, he shared his thoughts on the achievement:"Being recertified as one of the Best Places to Work — and earning special recognition as one of the Best Places for Women — reflects the culture we've built together. We believe that when people feel valued, supported, and inspired, they can achieve extraordinary things for our clients and for each other." Christina Mantzaris, CFO-COO, said:"This recognition means a lot to us because it's about our people. We've worked hard to build a place where everyone feels respected, supported, and able to grow. Knowing that women in our firm feel they can truly thrive here is especially meaningful." FAF continues to prioritize employee well-being and professional development, ensuring that all team members have the resources and encouragement needed to excel. The Best Places to Work certifications validate the firm's dedication to cultivating a workplace where diversity, equity, and inclusion are at the core of its values. The Best Places to Work certification is a global recognition awarded to companies that excel in creating exceptional workplace cultures where employees feel engaged, valued, and motivated. The certification process combines anonymous employee surveys with an in-depth HR assessment to evaluate both the employee experience and the organization's HR practices. Companies that meet the program's rigorous standards are certified for one year, benefiting from enhanced employer brand credibility, valuable benchmarking insights, and international visibility as a trusted and attractive workplace. For more information, about Fifth Avenue Financial visit: For more information about the certification program, please visit LinkedIn: Twitter: Facebook: Hashtag: #BestPlacestoWork The issuer is solely responsible for the content of this announcement. Best Places To Work


Zawya
5 hours ago
- Zawya
UAE group invests in $100mln funding round for US nuclear tech company
CE-Ventures, the corporate venture capital platform of Crescent Enterprises, has announced its participation in the $100 million Series B funding round for leading US nuclear technology company Aalo Atomics. Aalo's fundraise was led by Valor Equity Partners with participation from CE-Ventures alongside Fine Structure Ventures, Hitachi Ventures, Crosscut Ventures and others. Aalo has experienced significant momentum since its incorporation in 2022 and was recently selected by the US Department of Energy (DOE) for fast-tracked testing of its advanced nuclear technology. The successful completion of its Series B funding will support Aalo in building its first nuclear power plant for which it is aiming to reach zero-power criticality by July 2026, an important step towards demonstrating how their mass-manufactured modular reactors can provide the most effective solution to powering AI data centres. This process of expedited technology demonstration is set to significantly de-risk and accelerate commercial readiness as the US looks to advance next-generation nuclear and meet the rising energy demands of the AI era. Sudarshan Pareek, Senior Vice President at CE-Ventures, said: "We are at a pivotal moment for advanced nuclear technology, and we view Aalo Atomics as a true leader in this new atomic age." "The surge in AI adoption is driving unprecedented demand for reliable energy, and nuclear power can play a crucial role in meeting this demand with clean, scalable solutions. At CE-Ventures, we take pride in our long-standing track record of investing in pioneering companies. With this latest capital deployment, we are strengthening our position as a global partner of choice for entrepreneurs building frontier technologies," he stated. CE-Ventures has built a diverse global portfolio of strategic investments in early- to late-stage high-growth companies and select venture funds, including long-standing positions in frontier technologies such as AI and its ecosystem infrastructure. Its parent entities - Crescent Enterprises and Crescent Group - have a strong legacy of unlocking impactful capital and championing responsible growth opportunities across technology, energy, and UAE-US infrastructure. Matt Loszak, CEO, Aalo Atomics said: "We are beyond excited to announce Aalo's $100 million Series B. We now have the capital to build our first nuclear power plant, the Aalo-X, which we're aiming to turn on next summer. This could be the first advanced nuclear power plant to achieve criticality in the US in decades." "The Aalo team is extremely grateful to all of our backers for giving us this once-in-a-generation opportunity to help nuclear energy fulfil its potential," he added. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (


Zawya
7 hours ago
- Zawya
South Africa: MTN faces new US investigation into Afghanistan conduct
South African mobile network operator MTN Group is facing an investigation by a US Department of Justice grand jury into its conduct and that of its former subsidiary in Afghanistan and an Iranian cellphone carrier it partly owns, the company said. The news and a slight downward revision of its medium-term service revenue outlook for its domestic market sent its shares tumbling 9% on Monday, overshadowing results showing it made a half-year profit following a loss a year earlier. Group CEO Ralph Mupita told reporters that Africa's biggest telecoms operator had been informed by its external US counsel of the DOJ grand jury investigation, adding that it was cooperating and voluntarily responding to requests for information. Mupita declined further comment on the case MTN faces other ongoing legal cases in the United States filed on behalf of American service members and civilians who were injured or killed in Iraq and Afghanistan between 2005 and 2010 who accuse it of violating the US Anti-Terrorism Act. "The plaintiffs' complaints allege that MTN supported anti-American militias in Iraq and Afghanistan through its participation in Irancell," the company said in a statement. MTN owns 49% of Irancell. "Jurisdictional discovery in the cases, ordered in July 2023, has now closed and the plaintiffs filed an amended complaint on 6 August 2025," the company said. "The amended complaint now includes additional claims against MTN, which are similar to those asserted in the three other pending ATA (US Anti-Terrorism Act) cases in which MTN is involved. MTN will file a Motion to Dismiss the amended complaint." MTN shares fell as much as 9% before closing down 8.4%. "(The) shares have done very well coming into these (half-year) results so part of the selloff could also be profit-taking by short-term investors, given the US investigations could be an overhang," said Peter Takaendesa, chief investment officer at Mergence Investment Managers. MTN is also facing challenges in growing service revenue in its home market due to pricing pressures, intense competition and weak consumer spending. Based on assumptions regarding market conditions and outlook in South Africa, it revised its medium-term guidance for service revenue growth in South Africa to low to mid-single digits from mid-single digits. It reported headline earnings per share of 645 cents in the six months to 30 June, compared to a headline loss of 256 cents a year earlier, as macroeconomic conditions, inflation and foreign exchange rates in Nigeria and Ghana showed improved stability. Group service revenue grew by 23.2% to R105.1bn ($5.97bn) as data and fintech revenues increased by 36.5% and 37.3%, respectively. ($1 = R17.6063)