Latest news with #DubaiSportsCity
Arabian Business
3 days ago
- Business
- Arabian Business
Acube Developments breaks ground on Vega in Dubai Sports City
Acube Developments announced holding the breaking ground event for Vega, its third residential project in Dubai. With 95 percent of units already sold, Vega has drawn strong demand from homebuyers and investors alike, the company said. The project is scheduled for handover in Q2 2027. Inspired by Vega – the brightest star in the Northern constellation of Lyra – the new 23-floor tower will feature 129 luxurious studios, one-, two-, and three-bedroom residences, each thoughtfully designed to blend comfort, style, and functionality, the company said. 'Breaking ground on Vega marks the realisation of a vision inspired by Dubai's relentless pursuit of innovation and excellence,' said Ramjee Iyer, Chairman & Managing Director of Acube Developments. With construction progressing rapidly and sales momentum at an all-time high, Vega is on track to becoming a defining architectural icon in Dubai Sports City, he said. Acube Developments said it is set to launch 10 new projects over the next two years, including landmark developments along Sheikh Zayed Road. As it continues to expand its portfolio, the company said it has also achieved full backward integration through its subsidiary Acube Industries, which manufactures interiors including woodwork, joinery, interior design, and fit-out.
Zawya
4 days ago
- 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.
Arab News
6 days ago
- Business
- Arab News
Middle East's first professional ice rink to open in Dubai this year
DUBAI: The UAE's sporting scene is set for a major new addition with the opening later this year of the Emirates Sports Arena, the Middle East's first professional ice rink. For the latest updates, follow us @ArabNewsSport Set to open in September, the facility in Dubai Sports City aims to position Dubai as a hub for ice hockey, figure skating and other ice disciplines in the region. The arena, located next to the Emirates Sports Hotel and Apartments, marks a significant milestone in the UAE's sports infrastructure. The state-of-the-art venue will host professional games, international tournaments, training camps and community events. With seating for 600 spectators, the 10,000-square-meter facility has been built to meet the standards of North America's National Hockey League, including maintaining the temperature of the ice surface at between 16-18 degrees Celsius. Its state-of-the-art lighting and sound systems plus high-definition screens and range of dining options means it can also be used for figure skating competitions, concerts and other forms of entertainment. The arena's operators hope it will provide a base for nurturing grassroots winter sports across the UAE and neighboring countries. A dedicated winter sports academy will be established nearby, offering training programs for aspiring athletes, coaching clinics and youth development initiatives. The arena is a major boost to the UAE's previously limited provision of ice rinks, which comprised only smaller venues in Abu Dhabi and Al-Ain. A core element of the project is fostering inclusivity, with the arena featuring dedicated professional spaces for female athletes and coaches, aligning with broader initiatives to promote women's participation in sports. Special events, matches and tournaments for women and girls will be organized regularly, encouraging greater interest and engagement in winter sports disciplines. Vladimir Burdun, CEO of Emirates Sports Group, said: 'We believe that the opening of the first professional ice arena will revolutionize winter sports and hockey development in the Middle East. The Emiratis are showing growing interest in winter sports and this facility will support the national teams' growth and international competitiveness.' Burdun, who owns the Dubai Mighty Camels hockey team and has been instrumental in developing professional hockey in the UAE for more than two decades, said the new arena would be pivotal to the future growth of the sport. 'We are already in discussions with the UAE Winter Sports Federation to designate the arena as the official training base for the national figure skating and ice hockey teams in preparation for major world championships. Our goal is to create a sustainable ecosystem that nurtures talent from grassroots levels to international competitions,' he said. 'This arena is more than just a building. It's a catalyst for dreams, careers and regional sports excellence. We are proud to lead this transformative journey.'
