logo
Condor delivers third premium residential project in JVC

Condor delivers third premium residential project in JVC

Trade Arabia15-04-2025

Dubai-based Condor Developers has announced that it has handed over the third premium residential development - Condor Concept 7 - at Jumeirah Village Circle (JVC) within the committed timeframe.
The 10-floor Condor Concept 7, situated in the heart of JVC near Circle Mall and well-connected to key landmarks within a 10-20 km radius, was developed at a project cost of AED200 million ($54.4 million).
It features a total of 158 residential units along with a variety of amenities, including a swimming pool, open cabanas, a study area, a gym, and a rooftop pet park, among others.
"The handover of Condor Concept 7 is yet another milestone in our journey of delivering projects within the stipulated timeframe while ensuring excellence in construction, architecture, aesthetics, and material quality," remarked its Chairman and CEO Vidhyadharan Sivaprasad.
"Over the last four decades of our presence in Dubai's real estate market, Condor Developers has built a reputation as a responsible and sustainable developer, committed to quality and timely delivery. This has resulted in an overwhelming response to our projects," he stated.
Sivaprasad said Condor had a strong track record of timely project deliveries, the major ones being Condor Castle in JVC and Marina Star in Dubai Marina.
"Currently, we are developing two new projects - Condor Sonate Residences in Jumeirah Village Triangle (JVT) and Condor Golf Links 18 at Dubai Sports City—both of which are progressing on schedule," he added.
In addition to these two, Condor has two more upcoming projects in Dubai's prime residential districts - Dubai Islands and Al Majan.
Sivaprasad said the group is boosting its investments in Dubai's real estate sector and will be spending over AED2.5 billion by 2027.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Nasdaq Dubai welcomes Mashreq's $500m sukuk listing
Nasdaq Dubai welcomes Mashreq's $500m sukuk listing

Trade Arabia

time2 days ago

  • Trade Arabia

Nasdaq Dubai welcomes Mashreq's $500m sukuk listing

Nasdaq Dubai welcomed leading Dubai-based bank Mashreq debut listing on the exchange with the admission of a $500 million sukuk issued by Mashreq Al Islami Sukuk Company. The Trust Certificates, due in 2030, were issued under Mashreq's $2.5 billion Trust Certificate Issuance Programme and are being admitted as a secondary listing following strong demand in the primary market. This marks an important milestone for Mashreq as it expands its access to international capital markets and strengthens its presence in the Islamic finance space. It also reflects Nasdaq Dubai's continued role in connecting regional issuers with a global investor base through a well-regulated and diversified platform. Senior officials from Mashreq, including Ahmed Abdelaal, Group Chief Executive Officer; Joel Van Dusen, Group Head of Corporate & Investment Banking; and Salman Hadi, Group Head of Treasury & Global Markets, attended the market opening ceremony at Nasdaq Dubai to celebrate the listing. The bell was rung by Ahmed Abdelaal in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). On the debut sukuk, Mashreq Chairman Abdul Aziz Al Ghurair said: "This sukuk listing marks an important step in Mashreq's commitment to strengthening the global Islamic finance landscape. It is a clear demonstration of Mashreq's long-term commitment to Islamic finance, the deepening of cross-border capital flows, and the UAE's continued emergence as a global nexus for ethical and Sharia-compliant financing." "Through this programme, we are proud to reinforce investor trust and contribute meaningfully to the maturing of Islamic capital markets," he stated. Abdelaal said the debut listing on Nasdaq Dubai marks a new chapter in Mashreq's capital markets journey. "This sukuk issuance not only attracted strong investor interest, but also affirms our disciplined approach to funding, even in a complex macro environment. As we continue to diversify our capital structure through Sharia-compliant channels, we remain committed to delivering strong fundamentals, market transparency, and sustainable value for all stakeholders," he added. Welcoming the Mashreq listing, Ali said it reflects the bank's growing ambitions in the Islamic finance sector and underscores DFM's role as a leading marketplace that connects regional issuers with global investors. "As Dubai continues to strengthen its capital markets infrastructure, we at DFM remain committed to providing an efficient and transparent platform that supports diverse financing needs and promotes sustainable growth across the financial ecosystem," he stated. With this listing, the total value of sukuk listed on Nasdaq Dubai has reached $97.2 billion, further strengthening the exchange's position as one of the world's largest centres for Islamic fixed income. The overall value of debt securities listed on Nasdaq Dubai now stands at over $140 billion, across 163 issuances, said Ali.

Falcon Elite achieves exceptional Growth in aircraft movements
Falcon Elite achieves exceptional Growth in aircraft movements

Trade Arabia

time2 days ago

  • Trade Arabia

Falcon Elite achieves exceptional Growth in aircraft movements

Falcon, part of Alex Group Investment, has reported a 150% growth in aircraft movements between August 2024 and May 2025, positioning itself as one of the fastest-growing players in the region's private aviation sector. In less than one year, Falcon Elite has transformed from a promising terminal into a dynamic, high-traffic hub for elite clientele. This performance highlights Falcon Elite's ability to anticipate and respond to key seasonal peaks, while also reflecting the trust clients place in the private terminal's exceptional services, the company said. When Falcon Elite first debuted, it started with a modest 6.92% increase in traffic. Fast forward to May 2025, the terminal saw a remarkable 33.81% growth compared to the previous months. This increase was driven by new clients, a rise in diplomatic flights, and the start of the summer season. Prior to that, November 2024 saw a 52.75% increase, coinciding with Dubai's high season, including major events like the Formula 1 Abu Dhabi Grand Prix, a boost in regional business traffic & holiday travel. This growth is a result of consistently going beyond expectations and seizing every opportunity, the company said.

Ritchie Bros. gears up for major auction in Dubai
Ritchie Bros. gears up for major auction in Dubai

Trade Arabia

time2 days ago

  • Trade Arabia

Ritchie Bros. gears up for major auction in Dubai

Ritchie Bros., Europe's largest global asset management and disposition company, is preparing to host another major unreserved auction in Dubai from June 17 to 18. With over 1,500 items from trusted global brands across key sectors - including construction, transportation, and lifting - this event offers an unmatched opportunity for buyers around the world to secure quality equipment. Every item will be sold to the highest bidder, with no minimum bids or reserve prices, ensuring fair competition and full transparency for all participants. Bidding will take place exclusively online, said a statement from Ritchie Bros. This upcoming auction will feature a wide range of equipment to suit various needs and budgets. Key categories include: *Excavators: More than 100 units for sale *Backhoe Loaders: Over 45 units, 14 of which are unused *Cranes: Over 55 units, including truck cranes, crawler cranes and rough terrain cranes *Wheel Loaders: More than 40 units available The other highlighted equipments include 2020 CAT 980M Wheel Loader; 2020 Sany SYM5446THB 56M Concrete Pump Truck on Volvo FMX500 8x4 and 2020 Komatsu D155A-6 Crawler Tractor. Ritchie Bros. said the Dubai yard will be open for in-person inspections from June 12 to 16. "Visitors can view and test equipment on site. To ensure a comfortable experience despite the summer heat, shaded workstations and courtesy cars will be available throughout the yard," said company spokesman. The upcoming Dubai auction takes place against the backdrop of some market signals from Europe, where demand for specific equipment types - such as crawler excavators and articulated dump trucks - has risen significantly, according to Ritchie Bros.' latest European Used Equipment Market Trends Report for Q1 2025. As per the report, crawler excavators have recorded a 33% increase in buyer demand on Mascus compared to Q1 2024, indicating a more optimistic outlook for 2025.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store