Latest news with #DamacProperties
Time of India
4 days ago
- Business
- Time of India
Private helipads, yacht berths, and beachfronts: How Amali Island earned the title ‘The Maldives of Dubai'
Amali Island, famously dubbed the 'Maldives in Dubai,' blends private beaches, yacht berths, and resort-style villas for the world's elite/Image: amaliproperties TL;DR: Amali Island is a newly launched, ultra-luxury development by Amali Properties , nestled on The World's Uruguay and São Paolo islands. Co‑founded by Ali and Amira Sajwani, the project merges exclusivity, resort-style luxury, and private island living into a single 'Maldives-meets-Dubai' concept. Of 24 villas launched in April 2024, 22 have already been sold, attracting ultra-high-net-worth buyers from the UK, India, and beyond. Each villa includes private beachfront, yacht berth access, a floating helipad, clubhouse, and resort-class amenities. With a total value of approximately AED 2 billion (~USD 545 million) and full sales in record time, Amali is a bold statement in luxury GCC real estate. A New Definition of Private Island Luxury Once overlooked and forgotten, the islands of Uruguay and São Paolo within Dubai's famed The World archipelago lay dormant for years, witnesses to an ambitious vision stalled in time. But in April 2024, these reclaimed islands were reborn as Amali Island, a boutique ultra-luxury gated enclave that has swiftly become Dubai's most exclusive private island address. Home to just 24 bespoke villas, each offering up to 50 meters of private beachfront, direct yacht-access berths, and a suite of world-class amenities including a clubhouse, spa, gym, and a floating helipad, Amali Island redefines what it means to live in paradise. Dubbed the 'Maldives of Dubai,' the island's design is inspired by the Ombu tree symbolising shelter and resilience, across seven unique architectural themes. Founded in 2023 by siblings Ali and Amira Sajwani as a boutique offshoot of their family's Damac Properties legacy, Amali Properties was born from a personal desire to create an exclusive resort-quality island lifestyle. The name 'Amali,' derived from the Arabic word for 'hope,' reflects their mission to transform dreams into architectural excellence and set a new standard for ultra-luxury living in the Gulf. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why seniors are rushing to get this Internet box – here's why! Techno Mag Learn More Undo A Race to Sell Out Amali launched sales in late April 2024 with villa prices ranging from AED 50 million to AED 125 million, with a 'crown-jewel' villa at AED 250 million (~USD 68 million). Within a month, 22 of 24 villas had sold, totalling approximately AED 2 billion (~USD 544.5 million) in transactions. Among the buyers are ultra-high-net-worth individuals from the UK, India, and even internationally renowned footballers, illustrating the global appeal. A Strategic Location: Between Uruguay and São Paolo The project involved merging two separate islands, Uruguay and São Paolo—in The World's layout. These islands, acquired via private negotiations (one reportedly from a Qatari concern), were chosen for their panoramic blockbuster views of Dubai's skyline, Palm Jumeirah, Burj Al Arab, and Atlantis The Royal. Connected by a bridge and accessible by boat in under ten minutes from the mainland with helicopter option via floating helipad, Amali offers an exclusive 'sail-in, sail-out' lifestyle. Amenities Worth a Resort Residents gain privileged access to: A 10,000 sq. ft. clubhouse with spa, gym, saltwater pools, and swim-up bar Gourmet dining, cigar lounge, yoga decks, and a floating padel court Private berths and dedicated boating infrastructure Floating helipad and marine logistics planning Beach fire pits, Jacuzzis, rooftop terraces Luxury Real Estate Market Context Dubai recorded 431 real estate transactions above USD 10 million in 2023, more than any city worldwide. The World Islands, once stalled post-2008, are now reviving thanks to global investor demand and innovative luxury offerings, such as Amali. The Sajwani siblings opted for this project precisely because prime beachfront plots have become scarce on Dubai's mainland—The World islands represent one of the city's last untouched luxury frontiers. Verdict In many ways, Amali Island reflects Dubai's evolving identity as not just a global business hub but also a home for the world's elite. The blend of privacy, design excellence, and exclusive amenities redefines what it means to own a piece of paradise in the Gulf. As the city continues to push the boundaries of luxury living, developments like Amali Island show that Dubai's allure lies not just in its skyline, but in its ability to create unique, dreamlike experiences that few other places can offer.
Time of India
06-07-2025
- Business
- Time of India
Where to find affordable housing and studio rentals in UAE 2025: Best picks for bachelors, newcomers
In 2025, bachelors and newcomers can find studio rentals in the UAE ranging from Dh20,000 to Dh40,000 annually in key affordable areas./ Image composite: Property Finder, Marketplace With its ever-growing appeal to young professionals, job seekers, and first-time expatriates, Dubai continues to experience a surge in demand for affordable living options. In particular, bachelor-friendly studio apartments have become a top choice, offering newcomers a cost-effective way to settle in the UAE's bustling metropolis. However, with rental regulations tightening, especially on illegal partitioned spaces, finding affordable yet legal housing is becoming a challenge. Experts from Damac Properties and Keycraft Real Estate recently shared their perspectives on where to find affordable housing in Dubai and its neighboring emirates, such as Sharjah and Ajman. These insights will help those new to the UAE and budget-conscious individuals navigate their options in 2025. Key Affordable Studio Rentals in the UAE: What You Need to Know As rental prices continue to climb in Dubai, the search for budget-friendly housing can feel overwhelming. In a conversation with Gulf News, two industry experts, Roel Lacuesta, General Manager at Keycraft Real Estate, and Zaid Hamed El Khatib, Executive of Business Development at Damac Properties, shared their insights on affordable studio rentals for bachelors and newcomers in 2025. Lacuesta explained that studio apartments in Dubai generally range from Dh28,000 to Dh37,000 annually, offering a reasonable entry point for those looking to start fresh or job-hunt in the city. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why seniors are rushing to get this Internet box – here's why! Techno Mag Learn More Undo Meanwhile, El Khatib noted that studios in more budget-friendly areas typically range from Dh20,000 to Dh40,000 per year. These areas offer a mix of affordability, accessibility, and livability, making them attractive to young professionals and first-time renters. Lacuesta also emphasized that, with Dubai continuing to attract young professionals, it's essential to choose neighborhoods that offer both budget-friendly rents and good connectivity to the city. Some of the most popular and cost-effective areas for studio rentals include: International City: Dh26,000 – Dh36,000 – Known for its diversity and affordability. Deira: Dh20,000 – Dh35,000 – Offers central location and vibrant cultural experiences. Al Warsan & Al Warqaa: Dh22,000 – Dh32,000 – Quieter, emerging areas with affordable studio options. Dubai Sports City: Dh24,000 – Dh35,000 – Popular with students and active professionals. Dubai Silicon Oasis (DSO): Dh28,000 – Dh45,000 – A tech hub offering modern infrastructure. Al Nahda, Al Qusais & Bur Dubai: Dh32,000 – Dh40,000 – Well-connected areas with central access. Even in more premium neighborhoods like Damac Hills 1 and Jumeirah Village Circle (JVC), where amenities are more luxurious, studios still remain relatively accessible at about Dh50,000 annually. The Importance of Location and Public Transport Accessibility Location plays a crucial role when selecting affordable housing. Lacuesta emphasizes that proximity to public transport is one of the most important factors for budget-conscious renters. 'Affordable options for bachelors and job seekers tend to be in older or outer communities, where rents are lower. However, access to public transport is still essential. Living near a Metro or bus station can make a significant difference in convenience and reduce commuting costs,' said Lacuesta. He highlights the following neighborhoods for their excellent transport connectivity: Dubai : International City – Affordable, with good bus access. Al Qusais – Close to the Metro, older buildings with lower rents. Muhaisnah (Sonapur) – Very affordable, with many labor accommodations. Satwa, Deira, Al Rigga – Central locations offering shared accommodations. Sharjah : Al Nahda, Al Majaz, Rolla, Al Qasimia – Popular with newcomers commuting to Dubai. Ajman : Al Nuaimiya, Rashidiya, Al Jurf – Some of the cheapest rents in the UAE. Affordable living in these areas allows renters to maintain proximity to the heart of the city while reducing their transportation expenses. Flexible Living and Shared Spaces: Catering to Newcomers and Expats In 2025, flexible leases and shared living spaces are becoming more common, providing a viable option for newcomers who may not yet want to commit to long-term contracts. El Khatib mentions that co-living operators are filling the gap in the market for transient workers and expats. Areas like Dubai Marina, JLT, and Business Bay now feature monthly or quarterly rental agreements that often include furnishings, Wi-Fi, and utilities. 'Startups like Hive Coliv, Nomad Homes, and The Cohost are addressing the growing demand for flexible, community-based living options,' said El Khatib. "These setups are especially attractive to young professionals and expats who need short-term housing without a long-term commitment." Lacuesta agrees, noting that platforms such as Dubizzle, Property Finder, and Facebook Marketplace are flooded with listings for shared apartments, rooms, and even weekly stays. For those who are not yet ready for an annual lease, these options offer much-needed flexibility. For those seeking furnished, serviced co-living spaces, Nest by Arada and Uninest in Sharjah and Ajman offer fully furnished units with flexible terms. These spaces cater specifically to students and young professionals, providing a hassle-free living experience. What to Expect in Budget Studio Rentals When renting a budget studio, tenants can expect basic amenities and furnishings. According to both experts, typical budget-friendly studios include: Basic furnishings such as a bed, wardrobe, and kitchenette. Air conditioning (either split or window units). Utilities such as DEWA and internet are usually not included and are charged separately. Some buildings may offer shared amenities like gyms or swimming pools. Renters may need to pay a security deposit equal to one month's rent, which is usually refundable. A typical unfurnished budget studio can cost anywhere from Dh1,500 to Dh3,500 per month, depending on the location. For instance, Deira offers studios ranging from Dh2,800 to Dh3,500, while Sharjah's Al Nahda offers more affordable options, starting at Dh1,800 per month. One great deal found on Property Finder is a studio in Al Murar, near Diplomat Hotel, available for Dh26,000 per year. This unit is just 10 minutes away from the Metro and is surrounded by essential services like banks, restaurants, and clinics, making it ideal for job seekers looking for convenience and affordability. Key Considerations: Avoiding Illegal Partitions Both experts caution against opting for partitioned rooms, which are often found in high-density neighborhoods but may not meet safety standards or municipal regulations. These makeshift setups typically involve curtain partitions, violating housing codes and presenting safety risks. 'Always ensure that the property is Ejari-registered,' said Lacuesta. "If you're renting a full unit, confirm with the landlord whether partitions are officially approved." Final Thoughts: Balancing Budget and Accessibility Dubai's rental market continues to evolve, offering a wide range of affordable housing options, flexible lease terms, and community-focused living spaces. Whether you're a bachelor, job seeker, or newcomer, there are plenty of affordable neighborhoods and rental solutions available to suit your needs in 2025. Quick Tips for Newcomers: Use reliable platforms like Dubizzle, Property Finder, and Bayut to find verified listings. Prioritize living near Metro stations or bus routes for easy commuting. Consider co-living spaces for short-term flexibility. Always verify that shared rooms or units are Ejari-registered and meet safety codes. By being mindful of location, rental terms, and the amenities offered, you can find the right balance between budget and convenience in your new home in the UAE.
Daily Mail
24-06-2025
- Business
- Daily Mail
Families of Surfside victims furious over luxury condo plans
The furious families of the Surfside victims have torn into plans for an ultra-luxury condo tower on the site of the collapsed complex. Ninety-eight people were killed when Champlain Towers South crumbled on the night of June 24, 2021, in Miami, Florida , sending shockwaves across the world. But new plans for a $15million-per-unit apartment block just four years later has sparked rage from loved ones still getting over the tragedy. Families say they have been ignored and shut out of plans for The Delmore, an ultra-luxury high-rise being constructed on Collins Avenue. Dubai-based developer Damac Properties is moving ahead with the mammoth project after purchasing the land for $120million less than one year after the collapse. They are marketing it as part of Miami's 'Billionaires Triangle', and buyers will have a sky pool, Michelin-star dining and over 55,000 sq ft of spa and garden space. What $15M will buy you at The Delmore Designed by world-renowned Zaha Hadid Architects, The Delmore will feature a futuristic twin-tower design with sculptural sand-colored concrete wrapping around floor-to-ceiling glass walls. The towers are split by a dramatic 'flow-through canyon' - and bridged at the top by a 75ft suspended pool, floating 125ft above Collins Avenue. Each of the 37 units will span at least 7,000 s1 ft, with penthouses topping 10,000 sq ft. All residences will be fully furnished, with four and five-bedroom layouts, private elevators, and sweeping views of the Atlantic Ocean. Despite the glitz, Langesfeld says the project's foundation is built on 'pain and profit'. 'There's an ongoing federal investigation,' he said. 'And they still can't say whether this land is even safe. 'I've asked NIST (National Institute of Standards and Technology) point blank. They refuse to confirm it. And yet they're building anyway.' What really caused the Surfside collapse? Federal investigators say they're closing in on what triggered the horror collapse at Champlain Towers South - and all signs point to major structural weaknesses lurking beneath the pool deck. In their latest update on Monday ahead of the fourth anniversary today, the NIST revealed three key failure points that may have set off the chain reaction that killed 98 people in Surfside, Florida. The top suspect is a vertical support beam directly under the pool deck. Investigators believe the concrete slab sitting on top may have suddenly 'punched through' - dropping like a trapdoor and triggering the building's eastern wing to fall like dominoes. Another likely weak spot was where the pool deck connected to a concrete wall, according to NIST. If that joint gave way, it could've caused the slab to buckle and compromise the structure around it. A similar flaw may have existed near the southern edge of the deck - and if that section also pulled away, it might have sparked the same catastrophic collapse, NIST states. According to the report, all, all three areas were decades old, possibly water-damaged, and no longer met modern building standards. NIST says further testing is still underway - but these structural flaws are now the leading suspects in one of the deadliest building failures in U.S. history. Market crash and 'mass exodus' in wake of collapse Compass real estate agent Nick Green, who works in both New York and Miami, says the Surfside tragedy has had a lasting and devastating impact on the Miami condo market - especially in Brickell and other high-rise neighborhoods . 'The current state of the condo market in Miami – it's completely crashed,' Green told Daily Mail. 'About 40 percent of Brickell is for sale right now. Clients who bought a place for a million dollars two years ago are now looking at $800,000, maybe $850,000. You're seeing buildings with 40 units for sale in them. It's pretty bad times.' Green said the aftermath of the collapse triggered sweeping changes to insurance and structural safety laws - changes that have disproportionately impacted older and mid-tier buildings. 'Insurance is higher, the laws changed. Now you have to fund two years of capital for the building upfront,' he explained. 'The super luxe buildings can afford that, but older ones are really getting hit. Some can't even get loans.' He described a 'total mass exodus' from older towers, adding: 'Developers are circling like sharks trying to get things cheap. But the actual owners just want out. There's so much leverage as a buyer right now.' Buyers are increasingly flocking to new construction to avoid structural uncertainty. 'They don't want to deal with assessments or worry about the building's bones,' Green said. 'They want something fresh and solid.' When it comes to The Delmore, Green said many of his clients won't go near the site. 'Foreign buyers still see it as a good investment. But locals? They won't touch it. They think it's going to be full of ghosts.' Despite working in luxury real estate, Green said he personally believes the site should have been preserved as a tribute. 'Honestly, I wish they had done more to memorialize the victims,' he said. 'Even as a realtor, I'd have rather seen a memorial park than another high-rise. Something like what New York did with the 9/11 memorial.' But for Langesfeld and other grieving families they will attend a remembrance even in Surfside today. 'We still don't have justice. We still don't have answers. And now, we don't even have a memorial,' he said. Pictured: Real estate agent Nick Green. 'If this building collapses again, who will be held accountable?' he asked. 'Because no one was the first time.' When Champlain Towers South collapsed four years ago rescue crews worked for nearly a month to recover and identify the 98 victims. It remains one of the deadliest structural failures in U.S. history. In Monday's release The NIST said the team is finalizing its analysis and has begun drafting its investigation report, which is expected to be completed in 2026. Daily Mail has gone to Damac properties multiple times for comment by phone and email since Friday and is awaiting their response.
Khaleej Times
09-06-2025
- Business
- Khaleej Times
Dubai: Second tokenised property to be offered at discounted rate this week
The second tokenised property will be launched in Dubai this week, allowing residents to invest in the red-hot real estate market from as low as Dh2,000. Launched at Prypco Mint, the first tokenised unit from Damac Properties was fully funded in just one day last month, setting a regional benchmark for speed, demand, and investor confidence. The property attracted 224 investors from over 40 nationalities, with an average investment amount of Dh10,714. The second tokenised property will go live on Wednesday, June 11, at 11 am on the Prypco Mint. 'Following the remarkable success of the debut property, which was fully funded within 24 hours, we're excited to launch our second tokenised property on June 11, 2025. This listing features a one-bedroom apartment at Kensington Waters in Mohammed Bin Rashid City, developed by Ellington,' said Amira Sajwani, founder and CEO of Prypco. As an open, industry-first platform, she said Prypco Mint works with leading developers across the market to give investors access to the best opportunities in real estate, beyond any single developer affiliation. The new property is priced at Dh1.5 million, below its independently assessed market value of Dh1.9 million. 'We're focused on finding great deals and high-quality properties for our community, and this is another example of us delivering strong value for our investors,' she added. With a market value of Dh3 million, the first property was offered at a discount rate of Dh2.4 million. The Dubai Land Department said the waitlist exceeded 6,000 requests after the launch of the first tokenised property. 'It's clear there's a strong and growing demand for this new model of real estate investment. We're confident the second tokenised property will see an equally positive response. It's exciting to see investors embrace the benefits of liquidity, transparency, and accessibility, qualities that are transforming real estate from a traditionally static asset class into something far more dynamic and inclusive,' said Amira Sajwani. As awareness around tokenised property continues to grow, Prypco's founder said the biggest beneficiaries will be everyday residents who have traditionally been priced out of real estate investment. 'It's about financial inclusion, flexibility, and control. Residents can now start building their property portfolio in a smarter, more accessible way, whether they're investing for the first time or looking to diversify their assets,' she added.
Khaleej Times
23-05-2025
- Business
- Khaleej Times
Adopt AI or lose job: Employees learning new tech are not at risk, says Dubai executive
Do you fear losing your job to artificial intelligence (AI)? It is not AI that will take your job, but people who learn and embrace the new technology will. This stark warning came from Dr Deepak Renganathan, vice president of digital marketing at Damac Properties, who also authored a book on AI. 'We are basically in a catch-22 situation with the speed at which AI is going. There are about 5-10 per cent of people embracing it. They are running forward and learning AI. They are embracing AI in their organisation. Around 90 per cent of people are left behind, either because they don't know, are afraid and sceptical, or are theorists. When something new comes, there is always a fear. But it's important to understand that all of these have paved the way for new industries and more jobs. But those who succeeded it, they embraced it. People don't lose jobs to AI, but to people who embrace AI,' said Dr Renganathan during TRIBE – The CMO Connect 2025 event hosted by Khaleej Times on Wednesday. The key highlights of the one-day conference were the exclusive announcement of the GCC's Most Influential Marketing Leaders, recognising excellence, innovation, and leadership in the field. The conference also provided opportunities for attendees to foster strategic partnerships and engage with top marketing visionaries. While giving a presentation, he noted that there are numerous roles that AI agents play for various departments. 'An HR agent, which is already in place in many organisations, can actually auto-generate job descriptions, post the listings across platforms, sync all the requisitions in place, do resume parsing, shortlist candidates, conduct interviews by themselves with the candidates and the interview feedback is transcribed which goes into the system,' said Dr Renganathan, author of AI – The Ultimate Marketing Game Changer. "The next level can also be another AI, you know, specifically focusing and screening the candidate and then it can even give an offer to the candidates. It can track all the reporting metrics. This is exactly what it can do,' he said, adding that this is not specific to HR, but applies to marketing as well. He pointed out that there are autonomous learning-based models. 'Autonomous models are very risky unless you have a very sophisticated process in place and you clearly set aside the rules where the AI can actually make decisions for the company. Sometimes it's really good because it saves time and clears the hierarchy as well,' he added.
