Latest news with #Dh353
Khaleej Times
17-03-2025
- Business
- Khaleej Times
More than 72,365 homes to be delivered in Dubai in 2025
Dubai's real estate market is set to witness a record-breaking year in terms of new property handovers. Developers are expected to deliver 72,365 residential units in 2025 — a staggering 171 per cent increase from the previous year, according to reports. So far two developers – ORO24 and Vincitore Realty – have delivered more than 1,000 units in Dubai in the first two months. All other developers are preparing to handover more than 72,000 units this year. Real estate is driving the economic growth of the emirate of Dubai that has expanded the emirate's urban landscape deeper into the desert and the Arabian Gulf coast where artificial islands attract tourists from all over the world. With 1,180 projects under construction and over 325,000 residential units in development, the city's skyline is transforming at an incomparable pace. Dubai's population has jumped five-fold in the last three decades to reach 3.8 million this year, thanks to the rapid urbanisation powered by the real estate sector. Meanwhile, ORO24 Developments, a futuristic and innovative real estate developer, has delivered its first residential community Torino – that is more like a resort with lots of green and sustainable features – in Dubai's Arjan master community. With a built-up area of 625,718 square feet, the development value of Torino exceeds Dh353 million. Torino is an integrated gated community with 625 well-appointed homes comprising high-quality spacious studios, one bedroom apartments and two-bedroom apartments spread across six low-rising blocks surrounded with the latest community facilities including ample car parking, jogging track, health club with swimming pool, kids pool, kids play area that features latest equipment from Poland, a movie theatre, landscaped gardens, barbecue area, party area, prayer area, office and meeting space for professionals and businessmen to conduct business meetings next to home, among other facilities. Torino comes with an elevated sunset-viewing deck with food and beverage facility for families to watch sunset – that ensures continuous wind circulation 365 days, so that viewers do not feel hot during summer time. This unique feature was added keeping the happiness of the home-owners in mind so that life at Torino becomes more enjoyable. A movie theatre could make community life more enjoyable and help residents to through movie parties for quality time. The homes and the overall project have been meticulously designed with some of the best amenities, facilities, materials and fittings that money could buy and has been hand-crafted to deliver the best quality with matching colours. The project carries the quality mark and signature synonymous with Atif Rahman, Founder and Chairman of ORO24 Developments, who is known for his unwavering commitment and a great vision that is inspired by the visionary leaders of the UAE. 'We don't just build homes, we create legacies,' said Rahman. 'Our goal is to ensure that each ORO24 development is not just a building, but a place where people can live better, thrive, and feel truly at home.' The company is on track to become a global leader in real estate, with plans to expand its footprint beyond Dubai and explore new international markets. 'Success is not just about the end result but the journey it takes to get there,' Rahman reflects. As Dubai continues to evolve into a global hub for innovation, ORO24 is poised to play a significant role in shaping the future of urban living. ORO means 'Gold' in Italian language and 24 represents the level of purity of gold. Like a piece of 24-carat gold, every home built by ORO24 is a piece of gold and that's how the company designs, builds and put the finishing touch – to turn them a piece of gold. Ataur Rahman was so far launched 32 projects involving 16.5 million square feet built-up area. It has sold 11,750 homes to buyers from 150 countries with sales value exceeding Dh11.5 billion (US$3.13 billion) in the last three years, making it one of the fastest growing real estate developers in the UAE. The delivery of the Torino Community comes within three years after launch of the company and the project that reflects the company's customer-centric approach to deliver promises. It is one of the first few projects to be delivered in 2025 – a year when more than 42,000 homes are expected to be delivered in Dubai. Its list of amenities is endless and includes Unwind by ORO24 (Party Hall), the Theatre, Cookout Deck (Barbecue facility), Log Cabin, Lazy River, Squash Court, Padel Tennis Court, Badminton Court, Pet Zone, Flow by ORO24 (Yoga Deck), Wonderland (Children's play area), Trampoline, Patio, Sunset Point, Elderly seating area, Rain Jacuzzi. Torino embraces sustainability with 10,000 trees, green spaces, and a commitment to eco-friendly living, inspired by COP28's focus on sustainability. Special textured paint and porcelain tiles are used exclusively for ORO24, with white quartz counters in the kitchen—top-quality materials in the market. The combination of colours and lights is carefully chosen to create a stylish and comfortable lifestyle.
Zawya
05-03-2025
- Business
- Zawya
ORO24 Developments delivers TORINO – An ahead-of-its-time sustainable community & Masjid Ata Ur Rahman in Arjan
TORINO by ORO24 brings 625 homes spread across six blocks nestled between 1,000s of trees in a gated complex including world-class amenities that make it a resort destination, while Masjid ATA UR RAHMAN stands as a state-of-the-art Mosque – reflecting the company's community-focused approach Dubai, UAE: ORO24, a leading force in Dubai's real estate industry, is setting new benchmarks in the development of modern, sustainable communities. With its iconic project, TORINO by ORO24 and Masjid ATA UR RAHMAN by ORO24 in Arjan, the company is making waves in the industry. ORO24 celebrated the completion of the landmark projects through a grand event attended by top government officials along with industry experts, customers, and brokers. A massive new ball room was erected at the site specially for the celebration along with theme revolving around nature decorated with hundreds of real trees and birds. Delivering homes that blend luxury, affordability, and sustainability in a harmonious way. The completion was marked by a celebration that raised the bar in Dubai's real estate industry, showcasing the culmination of ORO24's vision and commitment to quality and community living. Under the visionary leadership of Mr. Atif Rahman, Founder and Chairman of ORO24, the company is redefining how real estate is experienced in Dubai. Rahman's passion for innovative design and customer-centric development has positioned ORO24 as one of the fastest-growing real estate developers in the region. With a commitment to creating spaces that enhance lifestyles and promote community living, ORO24's impact on the Dubai's skyline is undeniable. TORINO by ORO24 TORINO by ORO24 stands as a testament to the company's ability to deliver exceptional quality and innovative design. This landmark project, originally valued at over Dh353 million, spans a built-up area of 625,718 square feet and features 625 homes across six blocks. It offers a range of spacious studio, one-bedroom, and two-bedroom apartments with world-class amenities designed to cater to modern living needs. It is worth noting that most reputed valuators like Knigh Frank has valued TORINO By ORO24 at AED 480 Million, The project, now completed, is a perfect blend of sustainability and modern living. The development incorporates green spaces, over 10,000 trees, and eco-friendly features that contribute to a cleaner, greener environment. In line with the UAE's commitment to sustainability and COP28's focus on green initiatives, TORINO is a forward-thinking community that combines beauty and functionality while embracing innovative design concepts. The celebratory launch of TORINO was a spectacular affair, showcasing the lifestyle and vision behind this exceptional development. Exceptional Amenities for an Elevated Lifestyle The TORINO by ORO24 project is more than just a place to live – it's a lifestyle destination. The development is packed with a range of amenities designed to enhance the daily lives of residents. From the Unwind by ORO24 party hall and The Theatre cinema to the Lazy River and Sunset Point for unforgettable views, TORINO offers a comprehensive range of activities and relaxation options. One of the outstanding features of TORINO is its focus on creating a sense of community. Residents can relax at the Flow by ORO24 yoga deck or enjoy a barbecue at the Cookout Deck. The Wonderland play area and Trampoline ensure children have their own space to enjoy, while the Elderly Seating Area offers comfort for the older residents. Each detail has been meticulously planned to offer a balanced and harmonious lifestyle. The health club is called Sculpt By ORO24, fully equipped with top of the line machines from Technogym. Masjid Ata Ur Rahman by ORO24: A Spiritual Sanctuary in Arjan ORO24, with the expert leadership of Mr. Atif Rahman, introduces Masjid Ata Ur Rahman in Arjan—a unique tribute to his grandfather. This masjid combines Islamic architectural values with modern design, creating a peaceful space for worship and reflection, open to all of humanity. The masjid, with a built-up area of 13,231.10 square feet, accommodates 466 male and 104 female worshippers, offering 34 parking spaces. It provides a serene escape from daily life, fostering spiritual growth through prayer, Quran recitation, and remembrance of Allah. Designed with sustainability and bespoke planning, Masjid Ata Ur Rahman is not just a place of worship but also a central pillar of the community—fostering unity, peace, and spiritual growth. The opening of Masjid Ata Ur Rahman was a memorable celebration, highlighting its beauty, purpose, and the positive impact it will have on the community in Arjan and beyond. A Visionary Leader Driving Innovation At the core of ORO24's success is the vision of Mr. Atif Rahman. With a deep passion for delivering unparalleled quality, Rahman has redefined real estate development in Dubai. His leadership philosophy is simple: build with purpose, deliver value, and put the customer first. Rahman recalls 'The vision with which I had started ORO24 is quite diverse, and I always found it difficult to narrate in its entirety. It's a reality now and can be experienced at both the projects.' 'We don't just build homes, we create legacy assets,' added Rahman. 'Our goal is to ensure that each ORO24 development is not just a building, but a place where people can live better, thrive, and feel truly belonged.' The company is on track to become a global leader in real estate, with plans to expand its footprint beyond Dubai and explore new international markets. 'Success is not just about the end result, but the journey it takes to get there,' Rahman reflects. As Dubai continues to evolve into a global hub for innovation, ORO24 is poised to play a significant role in shaping the future of urban living. About ORO24 Developments Founded in 2021, ORO24 Developments has positioned itself as one of Dubai's most innovative and forward-thinking real estate companies. With a portfolio that spans luxury, mid-segment, and sustainable developments, ORO24 is focused on creating living spaces that elevate lifestyles while remaining affordable. About Mr. Atif Rahman Mr. Atif Rahman is the Founder and Chairman of ORO24 Developments. With over 25 years of experience in the real estate industry, he has established himself as a visionary leader, driving ORO24 to become a trendsetter in the Dubai real estate market. Known for his commitment to excellence, Mr. Rahman has built a strong reputation for delivering landmark developments that seamlessly combine luxury, innovation, and sustainability. His leadership focuses on creating purpose-driven projects, ensuring each one leaves a lasting impact. Throughout his journey, Mr. Rahman has successfully launched 32 projects, covering a built-up area of 16.5 million square feet. With 11,750 units sold and a network of over 3,500 brokers, his total sales portfolio exceeds Dh11.5 billion. His extensive experience and unwavering dedication continue to shape the real estate industry.
Khaleej Times
19-02-2025
- Business
- Khaleej Times
UAE: Gold hits a high of Dh353, but sales see only slight drop
The persistent surge in gold rates to record highs has triggered divergent consumer strategies with most analysts observing a deep-rooted bullish sentiment among investors amid forecasts of prices reaching over $3,200. According to bullion and jewellery trade circles in the UAE, while many retail investors are doubling down on gold, driven by FOMO (fear of missing out) and expectations of further gains, high-net-worth individuals (HNWIs) continue to boost their holdings. 'Soaring prices have not dampened the appetite of jewellery lovers. Often, as prices surge, we notice a short-term confusion among consumers until they get used to the higher price level. When prices rise sharply, we do normally experience a slight drop in sales volume albeit most outlets manage to maintain the value level," says Joy Alukkas, chairman of Alukkas Jewellery. Chirag Vora, managing director of Bafleh Jewellery, says he has observed varied responses to rising gold prices. 'Cautious buyers tend to hold off, affecting impulse purchases. However, many still view gold as a long-term investment, prompting them to buy high-value pieces.' Vora said his sales volume has seen a slight decline, particularly in spontaneous purchases, but unique, quality items continue to attract interest. 'To adapt, we are promoting more affordable options and emphasising our craftsmanship. Additionally, we're focusing on creating lightweight jewellery without compromising on design, ensuring our pieces remain desirable and accessible. While market conditions may have shifted consumer behaviour, we remain optimistic and dedicated to providing appealing choices for our clientele,' said Vora. Gold has already seen record-high prices within just six weeks since the start of 2025. In the UAE, the yellow metal saw an upward trend on Wednesday, with 24-carat gold rising by Dh2.25 to Dh353. Similarly, 22-carat gold also gained Dh2, reaching Dh328.25 as spot gold decreased 0.2 per cent to $2,928.52 an ounce, just $14 short of its all-time high of $2,942.70 achieved last week. 'Persistent uncertainty and institutional buying patterns justify gold's upward trend. Consumers view it as a lifeline against currency devaluation,' notes Kevin Shahnazari, CEO of FinlyWealth. Analysts point to deep-rooted bullish sentiment, underinvestment by investors, and strong official sector demand as key drivers for the anticipated rally in gold prices. UBS updated its gold prices forecast, projecting that the yellow metal could reach a high of over $3,200 before stabilising at elevated levels in the coming years. "It seems that so much has already happened and it is only February. While this sentiment probably applies across financial markets in 2025, gold in particular has seen unprecedented market dislocations and record-high prices in just over six weeks since the start of the year." UBS strategist Joni Teves said in a note. Gold's rally began in late 2024, driven by heightened demand from central banks, geopolitical instability, and inflation fears. By February 2025, prices hovered near $2,943, with technical indicators like the Relative Strength Index (RSI) signaling overbought conditions. However, the metal's resilience has been tested by mixed signals: the US dollar's strength, Federal Reserve rate-cut uncertainties, and former President Donald Trump's renewed tariff threats on semiconductors and pharmaceuticals "Our latest assessment of market conditions prompts us to update our gold views and revise our price forecasts higher. These changes bring forward the peak to the latter part of 2025, with gold reaching a higher level than what we had before," Teves said. Bullion experts say gold's 2025 trajectory hinges on a fragile equilibrium of inflation, policy, and geopolitics. While bullish sentiment dominates, experts caution against overexposure. As Kristalina Georgieva, IMF Managing Director, states, 'Gold's role in preserving wealth is undeniable, but its volatility demands prudence.' According to market experts, in a world where $300 trillion in global debt undermines fiat currencies, gold remains a timeless hedge. Yet, as prices flirt with $3,000, the adage 'buy low, sell high' has never been more relevant—or more contested.
Khaleej Times
19-02-2025
- Business
- Khaleej Times
UAE: Gold prices continue to rise with 22K above Dh328 per gram
Gold prices rally continued as prices rose over Dh1 per gram in Dubai on Wednesday morning. At 9am UAE time, 24K rose to Dh353 per gram at the opening of the markets on Wednesday, up from Dh351.75 per gram at the close of the markets on Tuesday – an increase of Dh1.25 per gram. Among the other variants, prices of 22K, 21K and 18K increased to Dh328.5, Dh315 and Dh270 per gram, respectively. Globally, spot gold was steady at $2,929.71 per ounce. Gold saw a sharp correction after testing its all-time high of $2,942 on Friday, dropping to $2,877 before rebounding above 2,900. Yassin K. Fawaz, CEO of Raddington Group, said gold prices are seeing a significant rise, fuelled by ongoing trade tensions and increased demand from central banks, all of which are shaped by US President Donald Trump's strong economic leadership. 'Under Trump's administration, his tough stance on global trade — especially his tariff policies targeting China and his commitment to fair trade deals — has created an environment of uncertainty, which is driving investors to seek the stability of gold. This kind of unpredictability has traditionally pushed people toward safe-haven assets like gold,' he said. Fawaz added that despite some cautious comments from Federal Reserve officials about inflation and economic targets, Trump's policies have proven to create an environment of strength. 'With inflation still above the Fed's two per cent target and the economy on solid footing, many are now expecting the Fed to keep interest rates high for a while, which could dampen the appeal of assets like gold, which offer no yield,' he added.
