Latest news with #DAMAC
Arabian Business
a day ago
- Business
- Arabian Business
Dubai real estate: JVC, Meydan, Dubai Marina among top property choices for first-time buyers, experts say
A new report by Chestertons MENA has identified six fast-growing residential communities in Dubai where first-time buyers are finding both affordability and impressive rental yields, with some locations offering returns as high as 7.39 per cent. The real estate consultancy said a combination of improved infrastructure, off-plan pricing, and supportive buyer initiatives is driving demand in areas such as Jumeirah Village Circle (JVC), DAMAC Island, Dubai South, Meydan City, Dubai Marina, and Downtown Dubai. 'These are not just affordable entry points, they're smart long-term investments,' said Mania Merrikhi, Chief Operating Officer and Managing Director at Chestertons MENA. 'The demand is increasingly driven by younger and international buyers seeking lifestyle, value, and long-term growth.' At the top of the list is Jumeirah Village Circle (JVC), which offers yields of 7.39 per cent with average prices around AED 1,238 per sq. ft.. DAMAC Island, an off-plan development, offers similarly high returns at 7.38 per cent, with units priced as low as AED 823 per sq. ft. Dubai South and Meydan City also stand out, with average yields of 6.77 per cent and 7.14 per cent respectively — both benefiting from master-planned infrastructure and growing family appeal. Even in more central and high-end locations like Dubai Marina and Downtown Dubai, yields remain competitive at 6.24 per cent and 6 per cent, highlighting continued investor appetite across price tiers. Market shift favours master-planned suburbs The report points to a broader shift in buyer behaviour, as demand moves beyond traditional luxury hubs into well-connected, suburban-style communities. With central land becoming increasingly scarce, developers like Emaar and Binghatti are doubling down on new master plans, while government agencies such as the RTA and Dubai Land Department continue to invest in long-term growth. 'Full-service communities offering convenience, amenities, and affordability are becoming the new standard,' said Mohamed Mussa, Executive Director of Chestertons MENA. 'We're also seeing a new wave of family-oriented investors entering the market, helped by more flexible lending and policy support.' First-time buyers, in particular, are benefiting from reduced down payment requirements and developer-bank mortgage tie-ups, which have lowered barriers to entry. These developments align with the UAE's broader economic diversification plans, including the emirate's D33 agenda — a roadmap expected to generate sustained urban and financial growth through 2033. While Dubai remains the primary focus, Chestertons also pointed to growing interest in Abu Dhabi, where large-scale infrastructure projects and new residential schemes are attracting cross-emirate investment.
Time Out
01-08-2025
- Lifestyle
- Time Out
London's first ever penthouse designed by Versace is up for sale
Given London's 'i mpossibly unaffordable' housing market, for many of us, a place in the city with a separate living room, a slither of outdoor space or a proper shower cubicle feels like luxury. Somewhere with a spare room or a kitchen island is downright palatial. But if it's real luxury you're after for your next move, how about a penthouse designed by the one and only Donatella Versace? A five bedroom duplex penthouse, with interiors designed by Versace Home is up for grabs. What's more, it's one of a kind. Located between Battersea and Vauxhall, this is the only residential development in London to have been fully designed by the luxury brand. The penthouse, which sits on the 50th floor of DAMAC Tower Nine Elms is listed by London-based estate agents Chestertons. Its listing says that Donatella's 'unique signature is everywhere, from the mosaic walls of the spa influenced by the icon of Versace, to the intricate Greek Key inlay on the bedroom door'. It's certainly an acquired taste. But when you've got your own swimming pool, state-of-the-art gym, a cinema room and a 180 degree views over London's skyline, you can't really complain. There's also two multicoloured kid's play rooms (both with fitted slides), two car lifts and 24-hour concierge service. And you'll get to enjoy the building's communal gardens and the private residents' lounge, spa and steam room. All that could be yours for a modest £10.7 million! Take a closer look at the penthouse below. The best hotel in the UK is in London, according to Muddy Stilettos. .
Fashion Network
31-07-2025
- Business
- Fashion Network
"Roberto Cavalli is not for sale" says owner as it moves to quash speculation
There have been rumours lately that the Roberto Cavalli business is up for sale but its owner quashed them with an official statement on Thursday. See catwalk Owner DAMAC Group, said it was 'addressing recent speculation in the press about Roberto Cavalli ' and wanted to give a 'clear assurance about the future of the business'. It added: 'Since acquiring the Roberto Cavalli business in 2019, DAMAC have invested significantly in the growth and success of the company. Roberto Cavalli is not for sale. As before, we remain interested in strategic partners who can add value to the business.' The statement came after the company last month said it was assessing the 'strategic partnerships' referred to in today's statement as part of its growth options as Italian media began to speculate about a potential sale. Cavalli has faced the same challenges that have hit the rest of the luxury sector in recent years but has been busy this year opening new boutiques and launching regular collections as well as collaborations. This year alone those new stores have included Ibiza, Dubai Mall and Los Angeles, while collabs have included SKIMS and LeSportsac. Launched in 1970, the label's founder died a little over a year ago. The company had been bought just before the pandemic by DAMAC, which is a multi-billion-dollar business conglomerate founded and headquarted in the UAE by Hussain Sajwani. The parent company also invests in luxury real estate, capital markets, hotels/resorts, manufacturing, catering, and data centres.
Fashion Network
31-07-2025
- Business
- Fashion Network
"Roberto Cavalli is not for sale" says owner as it moves to quash speculation
There have been rumours lately that the Roberto Cavalli business is up for sale but its owner quashed them with an official statement on Thursday. See catwalk Owner DAMAC Group, said it was 'addressing recent speculation in the press about Roberto Cavalli ' and wanted to give a 'clear assurance about the future of the business'. It added: 'Since acquiring the Roberto Cavalli business in 2019, DAMAC have invested significantly in the growth and success of the company. Roberto Cavalli is not for sale. As before, we remain interested in strategic partners who can add value to the business.' The statement came after the company last month said it was assessing the 'strategic partnerships' referred to in today's statement as part of its growth options as Italian media began to speculate about a potential sale. Cavalli has faced the same challenges that have hit the rest of the luxury sector in recent years but has been busy this year opening new boutiques and launching regular collections as well as collaborations. This year alone those new stores have included Ibiza, Dubai Mall and Los Angeles, while collabs have included SKIMS and LeSportsac. Launched in 1970, the label's founder died a little over a year ago. The company had been bought just before the pandemic by DAMAC, which is a multi-billion-dollar business conglomerate founded and headquarted in the UAE by Hussain Sajwani. The parent company also invests in luxury real estate, capital markets, hotels/resorts, manufacturing, catering, and data centres.
Fashion Network
31-07-2025
- Business
- Fashion Network
"Roberto Cavalli is not for sale" says owner as it moves to quash speculation
There have been rumours lately that the Roberto Cavalli business is up for sale but its owner quashed them with an official statement on Thursday. See catwalk Owner DAMAC Group, said it was 'addressing recent speculation in the press about Roberto Cavalli ' and wanted to give a 'clear assurance about the future of the business'. It added: 'Since acquiring the Roberto Cavalli business in 2019, DAMAC have invested significantly in the growth and success of the company. Roberto Cavalli is not for sale. As before, we remain interested in strategic partners who can add value to the business.' The statement came after the company last month said it was assessing the 'strategic partnerships' referred to in today's statement as part of its growth options as Italian media began to speculate about a potential sale. Cavalli has faced the same challenges that have hit the rest of the luxury sector in recent years but has been busy this year opening new boutiques and launching regular collections as well as collaborations. This year alone those new stores have included Ibiza, Dubai Mall and Los Angeles, while collabs have included SKIMS and LeSportsac. Launched in 1970, the label's founder died a little over a year ago. The company had been bought just before the pandemic by DAMAC, which is a multi-billion-dollar business conglomerate founded and headquarted in the UAE by Hussain Sajwani. The parent company also invests in luxury real estate, capital markets, hotels/resorts, manufacturing, catering, and data centres.
