Latest news with #AED1.5
Zawya
06-05-2025
- Business
- Zawya
The Luxe Developers' Oceano development sold out
Since launching on Al Marjan Island, the AED1.5 billion luxury development due for completion in 2026, has seen unprecedented demand from global ultra-high-net-worth individuals Dubai, United Arab Emirates: The Luxe Developers, the UAE-based real estate development firm, has announced its flagship twin-tower development Oceano, situated on Al Marjan Island, has now sold out, underscoring the project's global appeal and highlighting the demand for ultra-luxury real estate in Ras Al Khaimah. The announcement follows the historic AED180 million sale of The Celest and The Stellar, two ultra-luxury Sky Villa residences within the development. These residences are the most expensive to be sold in Ras Al Khaimah and are redefining the property landscape in the emirate. Collectively, these exclusive Sky Villa residences span over 43,000 sqft, differentiating them from anything else on the market in terms of space and design. Shubam Aggarwal, Chairman and Co-owner of The Luxe Developers, said: 'Oceano's sold-out status highlights the global appetite for high-design, privacy-first living while underscoring Al Marjan Island's and Ras Al Khaimah's evolution as a luxury lifestyle destination. Oceano was our first project and a first for Al Marjan Island in shaping the skylines of tomorrow in terms of its iconic design, opulent finishes and top-tier detailing. 'We are committed to setting new standards for architectural brilliance, amenity integration, and service excellence, which is why Oceano was the optimal choice of ultra-high-net-worth investors (UHNWIs), which will be showcased when the project is handed over next year.' At Oceano, bespoke amenities mean residents will have access to a cigar lounge, a library, and a business lounge. A chauffeur's lounge will also be available, as will a dedicated retail level featuring the best in hospitality, F&B, and leisure. A private beach, children's play area, and pool area will add to the development's family focus. Designed by the acclaimed Dewan Architects + Engineers and interiors by Hirsch Bedner Associates, Oceano's unique design features floors rotated on a plane, offering panoramic views of the Arabian Gulf. Every unit is configured to ensure total seclusion, including all terraces and balconies. This also extends to the shoreline and beach, providing relaxation in a safe and secure environment. Construction on Oceano is moving quickly, with all enabling works, including shoring, excavation, and pilling, having been completed. China State Construction Engineering Corporation Middle East was appointed as the main contractor in October 2024. The company focuses on delivering The Luxe Developers' vision of an architectural landmark, and construction is moving into advanced civil works and the vertical building phase. Siddharta Banerji, Managing Director and Co-owner, added: 'Our strategy was clear from the outset – create timeless spaces that inspire and retain long-term investment value. Oceano proves that ultra-luxury developments in emerging markets like Ras Al Khaimah are as sought-after as those in global metropolitan hubs. 'Backed by a team of seasoned professionals, The Luxe Developers has set new benchmarks for Ras Al Khaimah with our flagship project, Oceano, and we are committed to building future landmarks designed to elevate the UAE's global real estate profile.' Ras Al Khaimah continues to experience heightened interest from UHNWIs regionally and internationally. With the sale of its most expensive residences, the emirate is holding its own against the more established luxury markets in the UAE. About The Luxe Developers The Luxe Developers is a leading real estate development firm specialising in crafting extraordinary spaces with opulent interiors. At The Luxe Developers, the company believes that exceptional living spaces can inspire and transform lives and are passionate about creating architectural marvels that redefine the concept of luxury and provide an unmatched living experience with a commitment to excellence and attention to detail that ensures every project the company undertakes sets a new standard in urban living. From incredible attention to detail and sourcing the finest materials to seeking out the world's most skilled artisans and handpicking the best-in-class architects and designers, the company's vision is to deliver spaces that elevate the human experience with the belief that extraordinary quality and luxury craftsmanship elevates every living moment. The Luxe Developers aims to bring a sense of individualism to every project and build structures that will become landmarks of tomorrow.
Arabian Business
05-05-2025
- Business
- Arabian Business
Dubai real estate: Azizi Developments announces 58% completion of Riviera Beachfront
UAE private developer Azizi Developments has announced a critical milestone in the construction of Riviera Beachfront I, a French Mediterranean-inspired waterfront community in Mohammed Bin Rashid (MBR) City. As of May 5 th 2025, the project had reached 58 per cent completion. Beachfront I, located in MBR City, is within easy access to key business districts and entertainment hubs making it ideal for both investors and homeowners. The development offers a fusion of French Riviera style with Dubai's luxury lifestyle, delivering a coastal living experience. 'Beachfront in Riviera is rapidly coming to life, with it being a testament to our commitment to crafting communities that embody elegance and functionality. As we move closer to its handover, we remain focused on exceeding expectations and further contributing to Dubai's evolving skyline with projects that offer lasting value and distinction,' said Farhad Azizi, Group CEO of the Azizi group of companies. The Riviera Beachfront I project, currently within the bigger AED1.5 billion community, is making strides, with 99 per cent of the structural work completed, 95 per cent of the blockwork carried out, and 87 per cent of the internal plastering completed. The development consists of three 20-story buildings featuring 555 units, which comprise of studios, one to two-bedroom houses, along with retail space. Each building, situated alongside the beaches of a 2.7-kilometer-long swimmable crystal lagoon, provides direct beach access and an assortment of amenities like swimming pools, landscaped gardens, fully-equipped gyms, BBQ areas, children's playgrounds, and yoga spaces. , inspired from Milan's cultural heritage. The development aims to become the Middle East's fashion capital, dedicated pedestrian-only fashion streets for perfumery, cosmetics, bags, and dress fashion. 'Much like the famed city of Milan, known for its beauty and elegance, Azizi Milan will embody the spirit of Italian living, right here in our home – Dubai. We have put a lot of thought into every detail, thinking about public spaces and community areas as well as creating homes that are as sophisticated and sustainable as they are welcoming,' said Mirwais Azizi, Founder and Chairman of Azizi Developments at the time of the announcement.
Zawya
14-04-2025
- Business
- Zawya
Dubai Municipality awards $408m stormwater drainage projects
Dubai Municipality has awarded contracts worth AED1.5 billion ($408 million) for four major projects under the 'Tasreef' project to develop, rehabilitate, and expand Dubai's stormwater drainage network. The projects form part of Dubai's broader commitment to building sustainable and climate-resilient infrastructure and are aligned with the emirate's ambition to consolidate its position as one of the world's most advanced cities in terms of infrastructure readiness, said the statement from Dubai civic body. The new contracts fall within the scope of the Tasreef project, Dubai's largest unified stormwater collection system and the most operationally efficient in the region. The projects will serve key areas across the emirate including Nad Al Hamar, the vicinity of Dubai International Airport, Al Garhoud, Al Rashidiya, Al Quoz, Zabeel, Al Wasl, Jumeirah, and Al Badaa, it stated. Dubai Municipality said the commissioned works were designed to provide sustainable and innovative solutions to mitigate flooding risks, enhance the efficiency of existing networks, and improve overall service levels. Under this project, more than 36km of new drainage lines will be constructed, linking to the main Tasreef tunnel, which will ultimately connect drainage systems across the emirate. The network's total drainage capacity in the target areas will increase significantly, which will reduce operating and maintenance costs while providing higher service standards to residents and businesses, it stated. Engineer Marwan Ahmed bin Ghalita, Acting Director General of Dubai Municipality, said these efforts were aimed at enhancing the capacity of the drainage system and increase its discharge capacity by 700% over the next 100 years, solidifying the emirate's leadership among the world's most advanced and resilient cities in terms of infrastructure. "Tasreef is a pioneering, strategic, and transformative project implemented by Dubai Municipality as part of its efforts to develop advanced and sustainable infrastructure projects in line with the highest standards of urban and spatial planning," he stated. "It is part of our strategic goals for integrated management of the stormwater and surface water drainage network, and for providing sustainable, resilient, and future-ready solutions. These efforts support our vision of making Dubai a leading, more sustainable, attractive, and liveable city every day," he added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
13-04-2025
- Business
- Trade Arabia
Dubai Municipality awards $408m stormwater drainage projects
Dubai Municipality has awarded contracts worth AED1.5 billion ($408 million) for four major projects under the 'Tasreef' project to develop, rehabilitate, and expand Dubai's stormwater drainage network. The projects form part of Dubai's broader commitment to building sustainable and climate-resilient infrastructure and are aligned with the emirate's ambition to consolidate its position as one of the world's most advanced cities in terms of infrastructure readiness, said the statement from Dubai civic body. The new contracts fall within the scope of the Tasreef project, Dubai's largest unified stormwater collection system and the most operationally efficient in the region. The projects will serve key areas across the emirate including Nad Al Hamar, the vicinity of Dubai International Airport, Al Garhoud, Al Rashidiya, Al Quoz, Zabeel, Al Wasl, Jumeirah, and Al Badaa, it stated. Dubai Municipality said the commissioned works were designed to provide sustainable and innovative solutions to mitigate flooding risks, enhance the efficiency of existing networks, and improve overall service levels. Under this project, more than 36km of new drainage lines will be constructed, linking to the main Tasreef tunnel, which will ultimately connect drainage systems across the emirate. The network's total drainage capacity in the target areas will increase significantly, which will reduce operating and maintenance costs while providing higher service standards to residents and businesses, it stated. Engineer Marwan Ahmed bin Ghalita, Acting Director General of Dubai Municipality, said these efforts were aimed at enhancing the capacity of the drainage system and increase its discharge capacity by 700% over the next 100 years, solidifying the emirate's leadership among the world's most advanced and resilient cities in terms of infrastructure. "Tasreef is a pioneering, strategic, and transformative project implemented by Dubai Municipality as part of its efforts to develop advanced and sustainable infrastructure projects in line with the highest standards of urban and spatial planning," he stated.
Trade Arabia
13-04-2025
- Business
- Trade Arabia
Dewa's new HQ building on track for Q4 completion
Dubai Electricity and Water Authority (Dewa) has announced that work is moving at a steady pace on its new headquarters building - Al Shera'a - located in Al Jaddaf. Al Shera'a, which boasts a built-up area of over 2 million sq ft, is being set up at a total investment of AED1.5 billion ($408 million). Saeed Mohammed Al Tayer, MD & CEO dubbed the new Dewa HQ as a sustainable architectural masterpiece. "Once operational it will be the tallest, largest and smartest energy-positive government building in the world," stated Al Tayer. "The construction, engineering and procurement works are scheduled for completion in the fourth quarter of 2025," he added.- TradeArabia News Service
