Latest news with #DowntownResidences
The National
11 hours ago
- Business
- The National
Deyaar's ‘royal palace' at new Dubai tower comes with Dh90m price tag
Deyaar Development's plush 'royal palace' at the top of the newly unveiled residential tower near Sheikh Zayed Road will be priced between Dh80 million and Dh90 million ($21.78 million and $24.5 million) amid higher demand from buyers, its chief executive has said. This week, Dubai-listed Deyaar launched 445-metre high Downtown Residences, a 110-floors skyscraper, which is the biggest project the company has launched so far. 'It's a big space,' Saeed Al Qatami told The National in an interview in Dubai on Wednesday. 'We are talking about close to 15,000 square foot in the sky, with swimming pools and other amenities.' Deyaar plans to begin selling the units to clients next week, with a one-bedroom apartments priced at Dh1.8 million. Penthouses and duplexes will also be up for sale. The company expects to generate Dh2 billion from the sale of housing units, with construction scheduled to begin by the end of the year, Mr Al Qatami said. 'We have seen a very good [initial] interest. People are eager to know more about the project, about the pricing, about the payment plan," he added. 'We also have a strong channel partners network ... and they are keen to sell it to their clients.' Apart from Emiratis and residents, the company is also targeting buyers from Europe, China and markets in Asia and beyond. Deyaar expects to sell about 60 per cent of Downtown Residences' 522 units up for grabs this year. The company will fund the construction of the project through the cash generated from off-plan home sales, Mr Al Qatami said. "We also have over Dh900 million of [bank] facilities unutilised as of now. So, if required, we will tap some of those facilities," he said. "These are bank loans approved for us ... but we have not utilised." The property sector in the UAE has been booming on the back of government initiatives such as residency permits for retired and remote workers as well as sustained economic growth that is driven by non-oil sector diversification. The influx of wealthy people to the Emirates is also supporting the market momentum. Last year, 7,200 millionaires arrived in the UAE, building on an influx of 4,700 in 2023 and 5,200 in 2022, property consultancy Knight Frank said, citing data from Henley & Partners. The total number of US dollar millionaires in the UAE reached 130,500 at the end of December, making the Emirates the world's 14th-largest wealth market. Demand for homes continues to remain strong in Dubai as well as across the Emirates as the population is consistently increasing with a large number of people moving to the Emirates to live and work, Mr Al Qatami said. 'People want to relocate from Singapore, the US, UK, Europe as well as from India and Pakistan and some Arab countries as well,' he said. 'People are coming here for different reasons ... [and] they think it's the right place to live. As long as this happens, the real estate sector will continue to be healthy and you will be able to either lease those units or sell them at good rates.' Prices not expected to fall Property prices will "stabilise at a certain level" this year and will not fall as demand remains strong, Mr Al Qatami said. In a recent report, Fitch predicted Dubai property prices to fall by 15 per cent this year on oversupply in the market. The credit ratings agency expects unit deliveries in this year and next to double compared to 2022 to 2024, 'which could cause a price correction'.
Arabian Post
a day ago
- Business
- Arabian Post
Dubai's Skyline Set to Soar with TwinLuxury Heights
Arabian Post Staff -Dubai Deyaar Development PJSC has officially launched Downtown Residences, a twin-tower residential project rising to a striking 445 metres in Dubai's golden triangle where Sheikh Zayed Road meets Downtown Dubai and Business Bay. The development will house 522 units across one- to three-bedroom apartments, duplexes, penthouses and an exclusive Royal Palace perched at the summit, marking a new milestone in vertical luxury living. Dubai is amid a surge of super‑tall skyscraper projects. Alongside Deyaar's venture, Burj Azizi is planned to reach approximately 725 metres, while Burj Binghatti Jacob & Co is projected at around 557 metres. Downtown Residences, with more than 110 floors, will rank among the tallest residential towers in the emirate and is set for delivery in the fourth quarter of 2030. ADVERTISEMENT Deyaar's chief executive, Saeed Mohammed Al Qatami, described the project as a transformation of urban living, combining comfort, style and advanced amenities. He emphasised its potential to attract both residents and investors while enhancing the Dubai skyline. The company signals that the project is part of its strategy, expanding its 2025 pipeline beyond an earlier target of AED 8 billion through new launches. Drawing inspiration from Maslow's Hierarchy of Needs, the design concept organises the residential experience into five vertical zones, each catering to a different level of wellbeing and lifestyle aspiration. The lower zone—Dynamic Avenue—will include family areas such as children's creative spaces, playrooms, and communal lounges, fostering social connection. The Sensory Oasis, positioned midway, will offer floating gardens, air yoga zones, AI-powered meditation pods and an 'invisible spa' combined with fitness amenities. At roughly 100 floors high, Summit Society will provide private dining venues, exclusive lounges, and a screening room. The Residents' Club will include AI-enhanced workspaces, executive pods and networking hubs, while the Sky Pinnacle 360 zone culminating in the Sky Mansion and Royal Palace will represent the architectural pinnacle. Architecture highlights include a dramatic central slit, vertical gardens woven through the structure, and podium-level urban oases. Outdoor terraces and community spaces such as The Collective and Serenity Haven aim to blend urban energy with serenity. Panoramic views of the Burj Khalifa, Arabian Gulf and Sheikh Zayed Road will feature prominently, underscoring the building's centrality and visual impact. The site is also adjacent to the Business Bay metro station, emphasising convenience and connectivity. In context, Downtown Residences forms part of a robust real estate market supported by government initiatives such as long‑term residency schemes and golden visa programmes, along with strong investor interest. Last year, Dubai recorded AED 761 billion in real estate deals, a 20 percent year-over-year increase, while unit prices rose nearly 19 percent. However, recent analysis from Fitch warns of a potential 15 percent price correction in the face of increasing supply as new units deliver in 2025 and 2026. ADVERTISEMENT Within the current landscape, several super‑tall residential towers are either in planning or under construction. For instance, the 557‑metre Burj Binghatti Jacob & Co is expected to top out in 2027. Meanwhile, the 725‑metre Burj Azizi and a host of other vertical developments are progressing. Downtown Residences will complement these, contributing to a vertical growth strategy that increasingly defines Dubai's urban identity. Deyaar, with a 23‑year history in the UAE real estate sector, has previously completed numerous projects across Business Bay and downtown districts. The developer anticipates concluding the current series of launches with AED 4 billion in sales for 2025. Compared with the tallest completed residential towers in Dubai, such as Marina 101 and Princess Tower, Downtown Residences will exceed these heights, adding further prestige to the skyline. In the under‑construction category, towers like Bayz 101 and Six Senses are among peers. Dubbed a 'vertical residential community', Downtown Residences aims to offer more than luxury living; it's intended as a lifestyle destination combining wellness, exclusivity and high‑end design. By aligning with evolving buyer preferences—especially among high‑net‑worth and remote‑worker demographics—the development emphasises contextually relevant amenities, location and architectural prominence. As Dubai positions itself at the forefront of global luxury real estate, Deyaar's Downtown Residences emerges as a test case in balancing scale, innovation and market demand. With units reportedly starting from AED 1.8 million, early indicators suggest strong investor interest in the lower‑priced tiers. Simultaneously, the Royal Palace and sky‑level offerings reflect ambitions to cater to ultra‑luxury buyers. Deyaar's vision, articulated by both Al Qatami and Patrick Bernard Rouse, frames Downtown Residences as more than just a building—it is a calibrated response to hierarchical human needs and emerging market dynamics. By integrating connectivity, wellbeing, community and status across vertical zones, the concept attempts to redefine high‑rise living.
Hi Dubai
a day ago
- Business
- Hi Dubai
Deyaar Unveils World's Tallest Vertical Residences in Dubai
Deyaar Development PJSC has launched Downtown Residences, an ambitious twin-tower project set to become the world's tallest vertical residential community. Strategically located in Dubai's golden triangle—Sheikh Zayed Road, Downtown Dubai, and Business Bay—the development aims to redefine high-rise luxury living with panoramic views, curated lifestyle zones, and architectural distinction. The 522-unit project includes a diverse mix of one- to three-bedroom apartments, duplexes, penthouses, and an exclusive Royal Palace crowning the tower. Designed for both residents and investors, the development integrates innovation and urban mobility, with direct proximity to the Business Bay metro station. 'Downtown Residences is Deyaar's most ambitious project to date,' said Saeed Mohammed Al Qatami, CEO of Deyaar. 'This high-rise is designed to transform urban living, offering residents an elevated experience that blends comfort, style, and cutting-edge amenities.' Conceptually inspired by Maslow's Hierarchy of Needs, the towers are divided into five distinct vertical zones. These include the Dynamic Avenue with family-focused amenities, the Sensory Oasis with AI-powered wellness experiences, the Residents' Club for executive workspaces, the Summit Society for private social gatherings, and the Sky Pinnacle 360—a symbol of self-actualized living at the tower's crown. Patrick Bernard Rouse, Chief Development Officer at Deyaar, said the project reimagines vertical living as an aspirational journey. 'Each segment of the tower is a curated lifestyle experience, designed to address not just functional needs, but emotional and aspirational ones.' The twin towers are connected by a dramatic central slit and incorporate nature through vertical gardens, outdoor terraces, and spaces like The Collective and Serenity Haven—fostering a balanced lifestyle that blends wellness, work, and play. With a 23-year legacy in the UAE real estate market, Deyaar continues to play a central role in shaping Dubai's skyline. Downtown Residences stands as a bold statement of intent, setting a new benchmark for high-rise residential development in one of the world's most dynamic cities. 'This is not just a home—it's a vision of what vertical living can be,' Al Qatami said. 'We are proud to shape the next chapter of Dubai's architectural excellence.' News Source: Gambit
Mid East Info
2 days ago
- Business
- Mid East Info
Deyaar unveils Downtown Residences in Dubai, one of the world's tallest vertical residential communities - Middle East Business News and Information
Soaring to a height of 445 meters across 110+ floors, Downtown Residences is Deyaar's tallest and most ambitious project to date, strategically located within the golden triangle of Sheikh Zayed Road, Downtown Dubai, and Business Bay. · Set to become a new architectural icon in the heart of Dubai, with a completion date of Q4 2030. · Residents can explore immersive amenities tailored to every dimension of elite urban living, from co-working spaces and AI yoga pods to spas and dining concepts. Dubai, UAE-June 2025: Deyaar Development PJSC, one of the UAE's leading real estate companies, has announced the launch of Downtown Residences, a game-changing architectural icon in the heart of Dubai. Downtown Residences, with its twin towers, represents a pioneering vision of luxury living and is set to become one of the UAE's tallest vertical residential communities. Downtown Residences reinforces the company's vision of luxury living by presenting an innovative concept of vertical living. This includes a diverse range of residences, from premium apartments to duplexes, penthouses, and an exclusive Royal Palace. Strategically located within the golden triangle of Sheikh Zayed Road, Downtown Dubai, and Business Bay, Downtown residences offer breathtaking views of downtown Dubai and the iconic Burj Khalifa, complemented by stunning vistas of the Arabian Gulf and the renowned Sheikh Zayed Road. Ideally situated adjacent to the Business Bay metro station, these residences provide an exceptional blend of luxury and convenience. This launch follows the success of Deyaar's previous developments in Business Bay, highlighting how it has shaped Dubai's vibrant urban skyline. With 522 meticulously designed residences, the project includes a mix of one to three-bedroom apartments, duplexes, penthouses, and an exclusive Royal Palace at the tower's summit. Saeed Mohammed Al Qatami, CEO of Deyaar Development, said: 'We are proud to announce Downtown Residences, Deyaar's most ambitious project to date, situated in one of Dubai's most prestigious locations. This luxury high-rise is designed to transform urban living, offering residents an elevated experience that combines comfort, style, and modern amenities. Each floor has been carefully crafted to enhance the quality of life, creating spaces that foster connection and inspiration. He added: 'Our vision for Downtown Residences goes beyond mere construction; it is a commitment to excellence and innovation in real estate. We are confident that this landmark project will not only set a new standard for luxury living but also create exciting investment opportunities. Investors can trust that Downtown Residences will be a vital part of Dubai's ongoing growth and development, aligning with the aspirations of the city and its vibrant community.' Architecture inspired by aspiration 'Downtown Residences reimagines urban living by drawing inspiration from Maslow's Hierarchy of Needs, transforming traditional residential design into a structured journey of luxury, community, and self-actualization. This transformative concept evolves traditional residential design into a structured journey of luxury, community, wellbeing, and self-actualization ,' said Patrick Bernard Rouse, Chief Development Officer at Deyaar Development. From Dynamic Avenue with wellness and social hubs, to Sky Pinnacle 360, a space that represents the pinnacle of self-actualized living, each vertical segment offers a curated lifestyle. Residents can explore immersive amenities tailored to every dimension of elite urban living. Dynamic Avenue features playrooms, multi-function lounges, kids' creative havens, and curated social retreats. A Sensory Oasis midway through the tower, has floating gardens, air yoga zones, AI meditation pods, invisible spa, and luxury fitness spaces. Some 100 stories up is the Summit Society: featuring dining concepts, exclusive lounges, a grand screening room, and Legacy Lounge. Downtown Residences will also have a residents Club with AI-powered workspaces, private executive pods, and networking hubs for business leaders. The vertical haven: The architectural marvel features a dramatic central slit and five vertical zones that ascend from the Urban Oasis at podium level to the ultra-luxurious Sky Mansion. The integrated landscape design blurs the lines between nature and built space, offering serene moments within the high-energy bustle of the city. The design ensures residents are not just surrounded by luxury but also deeply connected to it. Sophisticated outdoor facilities, vertical gardens, and communal realms such as The Collective and Serenity Haven promote a harmonious balance between wellness, work, and play. With 2 3 years of trusted legacy, Downtown Residences offers discerning buyers and investors a rare opportunity to invest in and own units in this ambitious development, built by one of the UAE's most respected developers. Deyaar's new luxurious project highlights the company's commitment to advancing the UAE's real estate sector. As the UAE continues to establish itself as a key player in the global real estate market, Deyaar provides exceptional properties that enhance the urban experience. With this project, Deyaar not only reinforces its role in shaping the future of urban living but also offers a remarkable opportunity for those looking for a premium place to call home.
Gulf Business
2 days ago
- Business
- Gulf Business
World's tallest vertical residences: Deyaar unveils Downtown Residences in Dubai
Credit for images: Supplied Deyaar Development PJSC has unveiled Downtown Residences, a landmark twin-tower development set to redefine luxury vertical living in the heart of Dubai. Positioned within the city's prestigious golden triangle—Sheikh Zayed Road, Downtown Dubai, and Business Bay—the project is poised to become one of the UAE's tallest and most iconic residential communities. Read- With 522 meticulously designed residences, Downtown Residences offers a diverse mix of one- to three-bedroom apartments, duplexes, penthouses, and an exclusive Royal Palace crowning the tower. The development integrates luxury, innovation, and connectivity, with panoramic views of the Burj Khalifa, the Arabian Gulf, and Sheikh Zayed Road. It is strategically located adjacent to the Business Bay metro station, combining prime location with seamless urban mobility. 'We are proud to announce Downtown Residences, Deyaar's most ambitious project to date,' said Saeed Mohammed Al Qatami, CEO of Deyaar Development. 'This high-rise is designed to transform urban living, offering residents an elevated experience that blends comfort, style, and cutting-edge amenities.' He added, 'Our vision goes beyond construction; it's a pledge to excellence and innovation. This landmark project is not just about luxury—it's about creating value for investors and enhancing Dubai's evolving skyline.' Inspired by 'Maslow's Hierarchy of Needs' Downtown Residences draws conceptual inspiration from Maslow's Hierarchy of Needs, reimagining residential living as a layered journey of luxury, wellbeing, and self-actualization. 'This project redefines what it means to live vertically,' said Patrick Bernard Rouse, Chief Development Officer at Deyaar. 'Each segment of the tower is a curated lifestyle experience, designed to address not just functional needs, but emotional and aspirational ones.' The development is divided into five vertical zones, each offering tailored experiences: Dynamic a venue : Lower levels with family-focused amenities including kids' creative havens, playrooms, lounges, and social spaces. Sensory o asis : A mid-level sanctuary featuring floating gardens, AI-powered meditation pods, air yoga zones, and an 'invisible' luxury spa. Summit s ociety : Located approximately 100 floors above ground, this zone includes private dining venues, exclusive lounges, a grand screening room, and the Legacy Lounge. Residents' c lub : Business-centric amenities including AI-powered workspaces, private executive pods, and networking hubs. Sky p innacle 360 : The crown jewel of the tower, representing the apex of self-actualized living. Vertical haven The towers are united by a dramatic central slit and a holistic vertical design that integrates nature and architecture. From podium-level Urban Oasis gardens to the opulent Sky Mansion at the top, the towers blend tranquility with city energy. Outdoor terraces, vertical gardens, and communal spaces such as The Collective and Serenity Haven are designed to foster a balanced lifestyle of wellness, work, and play. Deyaar's 23-year legacy in the UAE real estate market lends further weight to this high-profile project. Known for delivering value-driven developments across Dubai, the company positions Downtown Residences as a bold statement of intent in the global luxury real estate arena. 'With Downtown Residences, we are not just building homes—we are shaping the future of urban living,' Al Qatami said. 'This development is a rare opportunity for both residents and investors to be part of Dubai's next chapter in architectural excellence.' Downtown Residences continues Deyaar's track record of contributing to the UAE's fast-evolving property landscape, offering a new benchmark for high-rise luxury living in one of the world's most dynamic cities.
