'K-Mavins' delivers 'Terraces Marassi Drive' with investments of 400 million dirhams - Middle East Business News and Information
Dubai's real estate market has experienced remarkable growth in the early months of 2024, solidifying the emirate's position as a global investment destination. Factors such as economic stability, government-led initiatives, and surging domestic and international demand for residential and commercial properties have contributed to this growth. Reports indicate a 12% increase in total property transactions compared to the same period last year.
According to estimates, the total value of real estate investments in Dubai in 2024 has surged by approximately 15% compared to the previous year. This increase is driven by rising demand from foreign investors, particularly from Asian and European markets, as well as growing interest among local investors in residential and luxury projects.
Munther Al Ali, Chairman of Ki Mivins Group in the UAE, confirmed that the group's investments have reached AED 1 billion over the past three years, reflecting the increasing confidence in Dubai's real estate market.
Amidst this robust market growth, Ki Mivins celebrated the handover of its luxurious residential project, Terrases Marassi Drive, developed with the highest standards of quality and luxury at an investment exceeding AED 400 million. The project is located in the heart of Dubai's Business Bay, offering stunning views of the Dubai Canal and Burj Khalifa. It features a range of unique amenities designed for ultimate relaxation, including private pools, a fully equipped fitness center, oxygen rooms, Himalayan salt rooms, and ice rooms.
As part of its expansion plans, Ki Mivins is gearing up to launch a new project in Al Jaddaf with an investment of AED 340 million, expected to be completed in the fourth quarter of 2027. The group is also expanding its retail portfolio with the development of The Villa Square and Liwan Mall, reflecting its ambitious strategy to develop new projects that cater to Dubai's growing market.
Al Ali commented on Dubai's real estate market growth, stating, 'Dubai's real estate market has shown continuous recovery, with reports indicating an 8% increase in residential property prices in 2023. We expect this trend to continue until 2025, with prices forecasted to rise by 5-7%, reflecting the growing demand from both local and international investors.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CairoScene
11 hours ago
- CairoScene
Inside Bahrain's Newest Spanish Stay: Barceló Hotel & Residences
The 195-room hotel marks the brand's debut in the Kingdom. The Spanish hoteliers behind over 300 dreamy stays worldwide—including in destinations like Marrakech, Istanbul, and Dubai—have just landed in Bahrain, opening their first-ever address in the Kingdom: Barceló Hotel & Residences. Rising 20 storeys high in the historic Seef district of Manama, the new four-star stay blends sleek design with sweeping Arabian Gulf views, best taken in from the rooftop pool or open-air sports bar. Inside, the 195-room property houses two business centres, a spa and fitness studio, a kids club, and interconnected family rooms—plus dining venues that fuse Middle Eastern and Asian flavours. Just minutes from cultural landmarks like Bahrain Fort and The Avenues Mall, Barceló's Bahrain debut taps into the city's dual identity: corporate hub by day, culture-soaked playground by night.
Mid East Info
a day ago
- Mid East Info
After the success of Tower A, HRE Development launches Tower B of SkyHills Astra in response to soaring demand
The stunning residential complex in Dubai Science Park boasts state-of-the-art amenities, skyline views, and embodies the company's ethos of 'building with purpose. Dubai, UAE: Following the overwhelming success of Tower A, and due to soaring demand, HRE has launched Astra Tower B at the stylish SkyHills Astra, strategically located in Dubai Science Park. SkyHills Astra has garnered attention for its elegant design and exceptional accessibility, featuring a connection to a metro station and a prime location opposite Dubai Hills Estate. The building offers a range of amenities to cater to every taste, including a gym, yoga retreat, padel court, pools, and a unique dual-track podium over 500 metres, which provides one lane for running and another for grounding. Each residence comes fully furnished with an attractive payment plan directly from the developer. HRE Development has partnered with Dubai Cares, committing AED 30 million to support its global education programs. That means residents will enjoy state-of-the-art amenities and breathtaking views – all while knowing their investment positively impacts children's education in developing countries. Personalised certificates from Dubai Cares will acknowledge each resident's contribution to this cause. 'Opening Tower B highlights the community's amazing response to our vision,' said Wissam Breidy, CEO of HRE Development. 'The high demand for beautifully designed residences offering a holistic lifestyle has led to this expansion, providing more opportunities for buyers to invest in a purpose-driven community.' About HRE Development: HRE Development L.L.C., founded in 2021 and backed by a leading construction firm, has quickly established a reputation for excellence in shaping Dubai's skyline. With a focus on creating exceptional living spaces, HRE Development has completed over 200 projects, positively impacting approximately 12,000 families. Built on trust, integrity, and a commitment to quality and innovation, HRE Development blends aesthetics with functionality in its state-of-the-art designs. Sustainability is central to its projects, utilising eco-friendly materials and innovative practices to minimize environmental impact. By incorporating the latest technology, HRE creates smart living spaces that enhance residents' quality of life and foster vibrant communities. Beyond financial success, HRE Development is dedicated to creating social value through integrated social initiatives and a strong commitment to Corporate Social Responsibility, including an AED 30 million partnership with Dubai Cares to support education in developing countries. About Dubai Cares: Since 2007, Dubai Cares, part of Mohammed bin Rashid Al Maktoum Global Initiatives, has aimed to provide quality education for children and youth in developing countries through sustainable programs. It has benefited over 116 million individuals in 60 countries. Supporting the United Nations Sustainable Development Goal (SDG) 4, Dubai Cares focuses on early childhood development, access to education, vocational training, and education during emergencies. It employs a school health model that includes deworming, school feeding, and WASH (Water, Sanitation & Hygiene) initiatives. As a registered non-government organization under IACAD, Dubai Cares is authorized to raise funds through donations and campaigns. Volunteerism is crucial for engaging the community in addressing development challenges, and Dubai Cares mobilizes the UAE community through various initiatives aligned with its mission.
Mid East Info
a day ago
- Mid East Info
eClerx Expands Global Outreach with New Delivery Center in Cairo, Egypt - Middle East Business News and Information
eClerx Services Ltd ( a leading productized services provider, today announced the launch of a new delivery center in Cairo, Egypt. This strategic expansion strengthens eClerx's global operations and reinforces its commitment to driving innovation and harnessing top-tier talent in high-growth markets. The Cairo center will serve as a major expansion in technical support operations for one of eClerx's largest telecom clients. Nestled between Africa, Europe, and Asia, this center enables eClerx to serve several of its largest clients in the US and European markets, providing enhanced multilingual support. 'The opening of our Cairo delivery center marks the second new country opening for eClerx this year in line with our mission to deliver seamless, tech-enabled customer care experiences to our clients,' said Kapil Jain, CEO of eClerx. For 25 years, eClerx's deep domain expertise and innovative technology solutions have provided clients access to enhanced customer journeys, improved CSAT, and offered valuable insights that help them remain competitive in their industry. The addition of this center in Egypt will not only enable eClerx to offer these services to more clients worldwide but also allow the company to leverage the wealth of talent and expertise present locally. 'Cairo's rich talent pool, coupled with its thriving tech ecosystem and strategic geographical location, makes it an ideal region to invest in,' said Michael Hutchison, Head of Customer Operations at eClerx. 'We are excited to be in an area so robust with innovation and resilience, and we look forward to creating valuable opportunities for local talent while continuing to drive transformative outcomes for our global partners.' This new delivery center underscores eClerx's commitment to deliver excellence, foster innovation, and strengthen partnerships with both its clients and the local community.
