Arada awards AED678m contract to build Armani Beach Residences
Designed in partnership with Armani/Casa Interior Design Studio and the Pritzker-Prize-winning Japanese architect Tadao Ando, Armani Beach Residences at Palm Jumeirah features panoramic views of the Arabian Gulf and Dubai's famed skyline, as well as 90,000 square feet of high-quality amenities and 57 individually designed homes.
Ahmed Alkhoshaibi, Group CEO of Arada, said: 'This appointment marks a key step forward for a project that stands as one of Dubai's most anticipated ultra-luxury developments, and is in line with our promise to work with world-class partners on this landmark project. Set against the iconic backdrop of Palm Jumeirah, Armani Beach Residences reflects Arada's ambition to deliver exceptional design, craftsmanship, and a truly elevated lifestyle experience.'
Launched in 2024
Launched in 2024, Armani Beach Residences at Palm Jumeirah has set a new benchmark for design-led ultra-luxury beachfront living in Dubai, combining minimalism, natural harmony and refined detail with impressive views of the Arabian Gulf and Dubai's skyline from the outer crescent of the iconic man-made islands.
Every beautifully appointed home is defined by a desire to bring extravagant ocean and skyline views into its interior, with a wide array of configurations including including two-, three-, four-, five-bedroom and penthouse residences all offering unrestrained access to the exterior view.
Armani Beach Residences at Palm Jumeirah also includes two presidential suites, which combine numerous different internal function areas – including a contemplative courtyard space with reflective pool, a personalised gym, libraries, a private cinema, and a private parking lounge with space for seven cars – with an opulent mega-terrace featuring an infinity pool.
Buyers of penthouses and presidential suites will have the opportunity to work directly with Armani/Casa to deliver a truly bespoke interior scheme for their homes.
Best Branded Residence at Robb Report's Best of the Best 2024
The project was named Best Branded Residence at Robb Report's Best of the Best 2024 and also won Waterfront Project of the Year at the 2024 Pillars of Real Estate Awards. The show apartment for Armani Beach Residences at Palm Jumeirah is available for viewing at the Arada sales office in City Walk.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
an hour ago
- Gulf Today
Japan's real wage falls for sixth straight month in June
Japan's real wages fell in June for the sixth consecutive month as inflation continued to outpace pay growth, government data showed on Wednesday, raising concerns about consumption-led recovery in the world's fourth-largest economy. Inflation-adjusted real wages, a key determinant of households' purchasing power, fell 1.3% in June from a year earlier, following a revised 2.6% drop in May. While June's drop in real wages was the slowest since January, it highlights broader pressures on consumption. Core inflation has exceeded the Bank of Japan's (BOJ) target, potentially giving the central bank leeway to raise interest rates as it unwinds years of loose monetary policy, but factors such as geopolitics and tariffs are looming economic risks. The consumer inflation rate the ministry uses to calculate real wages, which includes fresh food prices but not rent costs, rose 3.8% year-on-year in June, the lowest in seven months. Although special payments grew by 3% in June from the previous year due to summertime bonuses, they failed to keep up with a rise in inflation, a labour ministry official said. Total cash earnings, or nominal pay, increased 2.5% to 511,210 yen ($3,476) in June, picking up pace from a revised 1.4% rise in May and the fastest rise in four months. Regular pay, or base salary, rose 2.1% in June, while overtime pay edged up 0.9%. Major Japanese firms on average agreed to pay hikes of more than 5% during annual spring wage talks. The labour ministry had said previously the result may not be significantly reflected in the wage statistics until summer. Smaller firms, which lack labour unions, are slower to implement pay hikes compared with larger corporations. Wage trends, crucial to sustaining the momentum in consumption, are among key factors the BOJ is monitoring to determine the timing of the next rate hike. The BOJ last week kept its short-term interest rate steady at 0.50%, and said Japan will see rising wages and prices push underlying inflation towards the central bank's 2% target. At the same time, the central bank downgraded its assessment of consumption for the first time since March last year, and warned it would stagnate for the time being, squeezed by higher prices. A labour ministry panel on Monday proposed a 6% increase in the national average minimum wage for this fiscal year, the biggest such jump since at least 2002. Meanwhile Japan's Nikkei share average reversed early losses to trade higher on Wednesday, as concerns about the US economy receded, prompting investors to continue buying cheap stocks after a heavy sell-off earlier this week. The Nikkei rose 0.62% to 40,802.73 by the midday break, reversing a 0.3% decline earlier in the session. The broader Topix jumped 1.12% to 2,969.55, supported by 2% gains for each of Toyota Motor and Sony Group. "Investors bought stocks because the gains of the Nikkei in the previous session were not enough to recoup declines on Monday," said Naoki Fujiwara, senior fund manager at Shinkin Asset Management. Japanese shares slid the most in two months on Monday as concerns mounted over the US economy and trade, while speculation grew over a potential upheaval in domestic politics. "It is just the declines of heavyweight stocks that are dragging the index today," said Fujiwara. Tokyo Electron slipped 3.46% to weigh the most on the Nikkei. Mizuho Securities analyst downgraded the rating of the chip-making equipment maker to "Neutral" from "Buy". Mitsui Fudosan jumped 6% after the property developer's quarterly net profit nearly doubled from a year ago. Mitsubishi Heavy Industries rose 4.19%, jumping for a second session, after the heavy machinery maker clinched a landmark deal to build Australia's next-generation warships. Of more than 1,600 stocks trading on the Tokyo Stock Exchange's (TSE) prime market, 80% rose, 16% fell, and 2% traded flat. All but one of the TSE's 33 industry sub-indexes rose, with the property sector jumping 3% to become the top performer. The services sector slipped 0.66%, dragged by a 3.49% fall of Recruit Holdings. Reuters
Web Release
16 hours ago
- Web Release
Summit Trading drives growth of Japanese food culture in the UAE and beyond
For nearly fifty years, Summit Trading has been at the forefront of delivering authentic Japanese food to the UAE and the wider Middle East. The company now supplies approximately 70 per cent of all Japanese food distributed in the UAE, strengthening the country's position as a strategic gateway for Japanese ingredients and cuisine throughout the region. At the heart of this transformation is Mr. Shiro Ohkubo, a long-time UAE resident and the region's first Japanese Food Goodwill Ambassador. Under his leadership at Summit Trading, Japanese food and agricultural imports into the UAE have increased from 400 million yen to over 2.6 billion yen over the past decade. This growth reflects not only rising demand but also a deepening cultural appreciation for Japanese cuisine across various communities. 'The UAE is fast becoming a global centre for food logistics, and Summit Trading has worked to ensure the UAE is seen as the key entry point for Japanese food into the Middle East,' said Mr. Ohkubo. A legacy built on logistics and trust Established in the UAE over 47 years ago, Summit Trading imports around 80 per cent of its products from Japan, sourcing directly from food manufacturers, cooperatives, and wholesale distributors. With logistics hubs in both Dubai and Abu Dhabi, the company supplies more than 2,000 clients across the GCC, including national airlines, five-star hotels, high-end restaurants, embassies, celebrity chefs, and major supermarkets. Summit also distributes to over 10 countries, including Saudi Arabia, Qatar, and Oman. It was the first to bring halal-certified Japanese wagyu beef to Dubai in 2014, to Qatar in 2015, and to Saudi Arabia in 2023. The company introduced regular air freight services to deliver fresh Japanese seafood, a category previously limited to frozen options in the region. Promoting Japanese food and culture Summit Trading's impact goes beyond its supply chain. The company regularly participates in flagship food exhibitions such as Gulfood and the Saudi Food Show, offering logistical and promotional support to Japanese producers seeking to enter the region. Collaborations with local chefs and restaurants help showcase regional specialities, while fairs and tasting events introduce new audiences to the diversity of Japanese cuisine. In 2022, Mr. Ohkubo hosted a live-streamed Japanese cooking session in the UAE, with support from Japan's Ministry of Agriculture, Forestry, and Fisheries. He also launched a trilingual website featuring over 20 recipes in Japanese, English, and Arabic, many of which blend Japanese and Middle Eastern flavours. His contributions were most visible during Expo 2020 Dubai, where Summit Trading managed all food logistics for the Japan Pavilion restaurant, Sushiro. The operation encompassed over 500 product categories, resulting in Sushiro achieving its highest monthly sales among its 64 international branches in March 2022. E-Commerce and everyday access Recognising growing local interest in Japanese home dining, Summit launched Hinomaru Shokudo in Abu Dhabi. The restaurant, which expanded in June 2024, offers bento boxes, sushi, ramen, and a variety of Japanese dishes using authentic ingredients. To support home chefs, the company created the Summit WEB Store, an e-commerce platform with more than 2,000 products available for delivery. The platform includes a mobile app, online payment options, and the first Arabic-language Japanese food site in the region. Its customer base now includes a broad mix of UAE nationals, Westerners, Filipinos, Indians, and Arabs. Supporting the community and global events Summit Trading has supported major international events by supplying Japanese food products, including the FIFA World Cup 2022, the World Judo Championships, and the AFC Asian Cup 2024. It also played a key role in diplomatic events and national celebrations, including the Emperor's Birthday reception hosted by the Japanese Embassy and the official luncheon for Prime Minister Kishida's visit to the UAE in 2023. The company has actively collaborated with UAE institutions as well. In March 2024, under the ne'ma food security strategy, Mr. Ohkubo conducted a food waste awareness session for schoolchildren and held a cooking workshop using Japanese and Middle Eastern ingredients. 'Our mission has always been to go beyond just importing food. We are here to introduce the heart of Japanese culture through its cuisine, and to build lasting bridges between Japan and the Middle East through trust, quality, and shared experiences,' said Mr. Ohkubo. Awards and recognition For his contributions to cultural diplomacy and trade, Mr. Ohkubo received the UAE Golden Visa in 2023, recognising his status as a key contributor to the nation's business and cultural landscape. Summit Trading has also received multiple recognitions from JETRO for its efforts in e-commerce and food service, including being the first wholesaler and restaurant in the Middle East certified as 'Japanese Food Supporters.' With over 500 Japanese restaurants now operating in the UAE, compared to just 140 in 2013, Summit Trading's role in shaping this culinary transformation is clear. Through logistics, advocacy, and a passion for cultural exchange, the company continues to deepen the UAE's ties with Japan and redefine what it means to bring a culture to the table. Driving restaurant growth and culinary confidence Mr. Ohkubo has played a pivotal role in supporting the rapid growth of Japanese restaurants across the region. Through lectures, workshops, and promotional events, he continues to raise awareness of authentic Japanese ingredients and cooking techniques, helping demystify the cuisine for both entrepreneurs and consumers. His hands-on guidance has been instrumental for companies seeking to open Japanese restaurants in the Middle East, offering practical insights drawn from decades of operational experience. This has helped lower barriers to market entry and instilled greater confidence in overseas expansion. Beyond the initial setup, Summit Trading ensures these establishments are set up for long-term success, providing reliable logistics, consistent quality control, and access to a comprehensive range of imported Japanese ingredients. Mr. Ohkubo also regularly leads delegations of local chefs to visit farms and production sites in Japan, fostering deeper understanding of the craft and culture behind the cuisine. Through these initiatives, Summit Trading continues to shape not only the availability but the authenticity and appreciation of Japanese food in the region.
Al Etihad
a day ago
- Al Etihad
Stocks rise on Fed rate cut hopes after disappointing jobs data
5 Aug 2025 15:53 TOKYO (REUTERS)Global stocks rose for a second session on Tuesday and the US dollar steadied as investors raised bets the Federal Reserve would act to prop up the world's largest shares rallied on Monday on generally positive earnings reports and increasing bets for a September rate cut from the Fed after disappointing jobs data on prices edged lower after output increases by OPEC+, while gold hovered near a one-week Europe, the STOXX 600 rose 0.4% in early trading, up for a second day, echoing the strength across Asia markets, where MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.8%.In currencies, the dollar edged up modestly, rising 0.35% against the Japanese yen at 147.6, while the euro fell 0.25% to $1.1543. The dollar index, which tracks the greenback against a basket of six other currencies, rallied 0.34% after a two-day concern mounting about the fragility of the underlying economy and the potential for oversupply, oil prices dropped for a fourth day, leaving Brent crude futures down 1% at two-week lows at $68.05 a heavyweights Nvidia, Alphabet and Meta surged overnight, and Palantir Technologies raised its revenue forecast for the second time this year on expectations of sustained demand for its artificial intelligence services.U.S. stock index futures were up 0.2-0.4%, pointing to a modest rise at the start of on Tuesday showed business activity in the euro zone grew at a slightly faster pace in July than in June, but remained sluggish.A separate UK survey showed British businesses recorded their largest drop in new orders in almost three years in July and cutting staff by most in six from Asia's two biggest economies showed resilience in their service sectors. In Japan, the S&P Global final services purchasing managers' index (PMI) climbed to 53.6 in July from 51.7 in June for the strongest expansion since services activity last month expanded at its fastest pace in more than a year. Bitcoin, meanwhile, fell 0.6% to $114,235, while gold rose 0.1% to $3,375 an ounce.
