Latest news with #CondorDevelopers
Zawya
29-05-2025
- Business
- Zawya
Influx of global investors to Dubai pushes Condor Golf Links 18 sales to nearly 70%
Luxury developer, Condor Developers, anticipate early completion of its fifth AED 300 million premium golf course facing project at Dubai Sports City before Q1 2026 DUBAI: The homegrown luxury residential property developer, Condor Developers, today said that with the influx of new global investors, particularly from Europe to Dubai, demand for its premium Golf Links 18 project at Dubai Sports City has been surging and nearly 70 per cent of the golf facing development has been sold out. "The sharp rise in European investors entering Dubai's property market over the past year, driven by relocation to the UAE's tax-friendly environment, has created a ripple effect in the real estate sector, providing strong tailwinds to the country's growing economy," said Vidhyadharan Sivaprasad, Chairman and CEO of Condor Developers. He said construction of the project is also moving ahead at a rapid pace with a milestone of nearly 70 per cent of the AED 300 million Golf Links 18 now complete. 'We are looking at early completion of the development before the first quarter of 2026, in line with our reputation of delivering projects even before the scheduled timelines.' Condor Golf Links 18, coming up on a plot area of 47,000 square feet, offering an array of diverse amenities for premium residential living, will have a total of over 250 luxury residential units. The project's range of 18 amenities span a Sky Retreat, two Infinity pools, a rooftop Yoga deck, outdoor cinema, indoor gymnasium, sun and float lounges, jacuzzi, picnic areas, BBQ stations and open cabanas, among others. The property will also have a viewing area, outdoor fitness box, sauna and steam rooms. Investor diversity Sivaprasad said the demographic mix of investors in Dubai's real estate market as well as across its own developments has seen a marked shift with the inflow of new high net worth investors from across Europe, bringing in more diversity to the market. 'These shifts of a large number of people moving from tax-stringent countries of Europe, combined with Dubai's strategic and persistent vision to make the Emirate a global investment destination is amply reflected in the sharp growth of asset values and rental yields in the property market,' Sivaprasad said. According to him, property asset values have increased by 20 to 30 per cent in tandem with the increase in land prices, while rental yields is in the range of 10 per cent respectively depending on the location. A majority of the buyers of the Golf Links 18 residential apartments so far is from the UK, followed by Russia, France, Slovakia and the UAE. Sivaprasad said that for many High-Net-Worth (HNW) families and non-HNW professionals, the UAE real estate market offers an attractive destination of low-tax jurisdiction without the rigors of complex and cumbersome tax machinery, attracting new European investors from across the UK, Germany, Belgium and the Netherlands. It is estimated that 6,700 millionaires moved to Dubai last year as per Henley & Partners' 2024 Wealth Migration Report, which is the highest for any country in the world. The influx is also expected to grow with a New World Wealth report projecting a 39% increase in the number of HNWIs in the UAE by 2026, bringing the total to over 100,000 individuals. Condor which has a pipeline of AED 2.5 billion worth of projects in the next couple of years across Dubai Islands, Al Majan and Jumeirah Village is well-positioned to reap the dividends of the new investor surge, Sivaprasad added.
Khaleej Times
16-04-2025
- Business
- Khaleej Times
Dubai's luxury realty soars as Condor delivers Concept 7
Dubai's luxury real estate market continues to boom, with Condor Developers reinforcing its prominence by completing the handover of Condor Concept 7, a premium residential project in Jumeirah Village Circle (JVC), on schedule. The Dh200 million, 10-floor development underscores the emirate's robust property sector and Condor's reputation for timely, high-quality deliveries, as demand for upscale residences surges. Located in the heart of JVC, near Circle Mall and within 10-20 km of Dubai's iconic landmarks like Burj Khalifa and Dubai Marina, Condor Concept 7 offers 158 residential units. The project, handed over on April 15, 2025, features modern amenities tailored to affluent buyers, including a swimming pool, open cabanas, a gym, a study area, and a unique rooftop pet park. These align with Dubai's growing appetite for lifestyle-driven properties, where luxury and convenience are paramount. 'The handover of Condor Concept 7 marks another milestone in our commitment to excellence in construction, design, and timely delivery,' said Vidhyadharan Sivaprasad, chairman and CEO of Condor Developers. 'Our focus on quality and sustainability has earned us trust in Dubai's competitive market.' Dubai's real estate sector is thriving, with the luxury segment leading the charge. According to Knight Frank's 2025 Wealth Report, Dubai ranks among the top global cities for ultra-high-net-worth individuals, driving demand for premium properties. JVC, once a mid-tier community, has evolved into a sought-after destination, with average property prices rising 12 per cent year-on-year to Dh1,100 per square foot, per Property Monitor data. Realty experts said that as Dubai cements its status as a global luxury hub, Condor Concept 7's completion highlights the resilience and dynamism of the emirate's real estate sector. 'The developer's ability to deliver on time also boosts confidence in a market where delays can erode trust.' Condor Concept 7's strategic location and upscale offerings position it to capitalize on this trend. The emirate's luxury market is projected to grow by eight per cent in 2025, fuelled by foreign investment and government initiatives like the Golden Visa program, which grants long-term residency to property investors. CBRE reports that Dubai recorded Dh135 billion in real estate transactions in 2024, with off-plan sales — a key driver for developers like Condor — accounting for 60 per cent of deals. Condor's timely delivery of Concept 7 strengthens its appeal to investors seeking reliability amid global economic uncertainties. Condor Developers, a 40-year veteran of Dubai's real estate scene, has built a strong portfolio with projects like Condor Castle in JVC and Marina Star in Dubai Marina, both delivered on time. 'Our track record reflects our dedication to responsible development,' Sivaprasad noted. The company is currently advancing two projects: Condor Sonate Residences in Jumeirah Village Triangle (JVT) and Condor Golf Links 18 at Dubai Sports City, both progressing as planned. Looking ahead, Condor is doubling down on Dubai's growth potential, with plans to develop projects worth Dh2.5 billion by 2027. Upcoming developments in prime areas like Dubai Islands and Al Majan signal the developer's ambition to cater to the luxury market's evolving demands. Dubai Islands, a waterfront destination, is expected to attract high-end buyers, with villa prices starting at Dh5 million, according to Savills. Condor's emphasis on sustainability — evident in Concept 7's energy-efficient design and quality materials — resonates with Dubai's push for green buildings under the Dubai 2040 Urban Master Plan. This focus enhances the project's long-term value, appealing to environmentally conscious investors. The developer's ability to deliver on time also boosts confidence in a market where delays can erode trust.
Trade Arabia
15-04-2025
- Business
- Trade Arabia
Condor delivers third premium residential project in JVC
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.
Zawya
15-04-2025
- Business
- Zawya
Condor delivers third premium residential project in JVC
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. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
15-04-2025
- Business
- Zawya
Condor Developers hands over Concept 7 Residential Apartments at JVC on time
The successful completion of the 10-floor development stands as yet another testament to Condor's commitment to delivering high-quality projects on time. DUBAI: Condor Developers, a leading Dubai-based luxury property developer, announced that it has successfully handed over its 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 AED 200 million. '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,' said Vidhyadharan Sivaprasad, Chairman and CEO of Condor Developers. Condor has a strong track record of timely project deliveries, he added, citing previous successful handovers of Condor Castle in JVC and Marina Star in Dubai Marina. Currently, Condor is 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. '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,' said Sivaprasad. Condor Concept 7 features a total of 158 residential units. The development offers a variety of amenities, including a swimming pool, open cabanas, a study area, a gym, and a rooftop pet park, among others. Condor is also expanding its investments in Dubai's thriving real estate sector and plans to develop projects worth over AED 2.5 billion by 2027. In addition to Condor Sonate Residences and Condor Golf Links 18, the company has two more upcoming projects in Dubai's prime residential districts—Dubai Islands and Al Majan.
