Latest news with #EgorMaslennikov
Khaleej Times
07-07-2025
- Business
- Khaleej Times
Building More Than Homes: Object 1's mission to transform communities across the UAE
In an exclusive conversation, Egor Maslennikov, chairman and founder of Object 1, shares insights into the company's remarkable growth, community-driven design philosophy, and its future-forward vision that blends sustainability, technology, and livability Edited excerpts: Question: You're currently managing over 15 projects that are already launched for sale within a short timeframe. What factors enabled such fast growth while maintaining quality? Answer: At Object 1, we focus on creating developments that go beyond architecture, emphasising lifestyle, innovation, and community impact. Each project is designed to become a city landmark, transforming the way people live and interact with their surroundings. We prioritise modern aesthetics, sustainability, advanced technology, and exceptional construction quality, while also respecting the history and cultural identity of each location. Question: How do you select areas like JVC, JVT, and Jumeirah Garden City for development? What makes them attractive from both a family and investor perspective? Answer: JVC is one of Dubai's most dynamic and family-oriented communities, known for its landscaped surroundings and extensive amenities. For Object 1, JVC holds strategic importance - it's where we launched our first projects, a deliberate move aligned with our investor-focused vision. The area has consistently demonstrated strong rental demand, validating our approach of designing developments with high investment potential. Building on this momentum, we recently launched ALTA V1EW in JVC. Set to be one of the tallest buildings in the area, ALTA V1EW Skyhomes blends the elegance and amenities of a luxury development with the vibrancy and accessibility of a well-connected community. JVC's location also offers exceptional connectivity. It is within easy reach of Al Maktoum International Airport and provides direct access to Al Khail Road, linking residents to key hubs like Business Bay and Downtown Dubai. JVT, on the other hand, is a sustainable, gated freehold development known for its tranquil, green environment. It's widely recognised as one of Dubai's top family-friendly neighbourhoods, offering modern living alongside abundant open spaces. With convenient access to City Centre Me'aisem and the beach, JVT continues to attract both buyers and tenants. Rental prices have increased by over 20%, with yields averaging around 8% annually. Jumeirah Garden City is centrally located and easily accessible, offering a vibrant, upscale lifestyle. The community balances luxury with relaxation and is close to various dining, cultural, and social venues. It also presents solid investment opportunities, with affordable rents that continue to draw tenants. Beyond these locations, we're developing projects in Al Furjan, Sports City, and Dubai Land Residence. These communities are gaining popularity due to expanding infrastructure, population growth, and rising investor interest. For instance, property transactions in Al Furjan rose by 15% last year. Sports City also remains a top choice for young families and professionals due to its affordability and lifestyle appeal. We take a forward-looking approach to site selection, believing these communities offer a strong balance between comfortable living and long-term investment potential, especially as Dubai's real estate market continues to evolve. Question: What are your main goals for Object 1 in 2025? Can we expect regional expansion or deeper focus within Dubai? Answer: In just two years, we've opened two sales galleries in Downtown Dubai, serving as key hubs for client interaction and support. At the same time, we're taking measured steps toward regional expansion. Earlier this year, we established a branch in Abu Dhabi to explore opportunities and better understand that market's dynamics. Question: EVERGR1N is a concept that merges tech-enabled living with eco-conscious design. Is this the future of mid-tier real estate in the Gulf? Answer: Absolutely. EVERGR1N represents the next generation of mid-tier real estate where technology, sustainability, and lifestyle intersect, aligning with the UAE Green Agenda 2030. The market is shifting, with buyers seeking not just functionality but also environmental responsibility and enhanced living experiences. EVERGR1N incorporates smart energy management, sustainable materials, and wellness-focused design. EVERGR1N House 1 sold out in just one month, and due to the overwhelming demand, we are now developing EVERGR1N House 2. Question: Object 1 has rapidly grown into one of the most active developers in Dubai. What motivated you to establish the company in this market? Answer: Dubai's strategic location and visionary planning - particularly the Dubai 2040 Urban Master Plan - make it one of the world's most promising real estate markets. When establishing Object 1, we saw a clear gap in the market for well-designed, premium residential properties tailored to both end-users and long-term investors. Our long-term development mindset was key to entering this market. With over AED 634 billion in real estate transactions in 2024 - up 20% - Dubai offers a stable, forward-looking environment. We've seen growing demand in areas like JVC and JVT, where residents are drawn to mid-to-high-tier housing with strong infrastructure and amenities. While our foundation lies in delivering practical, sustainable, tech-enabled homes within the mid-market segment, we're now exploring premium locations for luxury developments. Our high construction standards and long-term vision give us the confidence to scale into more upscale, larger-scale projects. This evolution reflects our ambition to contribute meaningfully to Dubai's real estate landscape, delivering refined living experiences while staying true to the innovation and integrity that define the Object 1 brand.
Gulf Business
03-07-2025
- Business
- Gulf Business
Inside Object 1's mission to redefine premium urban living in the UAE
Image credit: Supplied Egor Maslennikov is not just building homes, he's reimagining what urban living can and should look like in one of the world's most competitive and fast-evolving real estate markets. As the visionary chairman and founder of Image credit: Supplied Since the company's launch in 2022, Object 1 has grown at a staggering pace, completing over 15 distinctive projects and recording more than 1000 per cent year-on-year growth in sales volume—a rare feat in an industry defined by scale and speed. From pioneering concepts like EVERGR1N HOUSE, designed to meet the surging demand in the short-term rental market, to unveiling architectural landmarks such as ALTA V1EW, the tallest residential tower in Jumeirah Village Circle, Object 1 is carving out a new standard for aspirational, future-ready living in Dubai. But for Maslennikov, this is just the beginning. His vision extends far beyond bricks and mortar. With a deep focus on community, sustainability, and lifestyle integration, he sees Object 1 evolving into a transformative force in the Gulf's real estate landscape—one that defines how people connect with their homes, their neighborhoods, and the broader urban fabric. In this exclusive interview with Gulf Business, Maslennikov reflects on the founding vision that shaped Object 1, the strategic decisions behind its explosive growth, and what lies ahead for a developer that's not only responding to the demands of today's market, but actively shaping the cities of tomorrow. Image credit: Supplied Gulf Business sat down with Egor Maslennikov, Chairman and Founder of Object 1, to discuss the company's rapid rise in Dubai's real estate market, their vision for reimagining urban living, and what's next for one of the fastest-growing developers in the region. 1-Egor, take us back to the founding vision behind Object 1. What gap in the market were you aiming to address when you launched in Dubai? When we founded Object 1 in 2022, our goal was to address the growing demand for premium yet sustainable housing that meets the evolving lifestyle needs of residents in Dubai. We saw a gap in the market for developments that seamlessly combine innovation, quality, and eco-conscious design, all tailored to create communities that enhance well-being and provide long-term value. Our focus was not just on building houses but on crafting smarter, greener living spaces that align with Dubai's broader vision for sustainable urban growth as outlined in the Dubai 2040 Urban Master Plan. 2- Object 1 achieved over 1000 per cent growth in sales volume year-on-year, how did strategic thinking and market timing play into that achievement? Our growth has been driven by a strategic blend of innovation, market insight, and a strong commitment to quality and sustainability. Timing was critical, we entered the market at a moment when demand for eco-friendly, technology-enabled living spaces was accelerating. By integrating smart home technologies, using durable and sustainable materials, and maintaining a meticulous focus on quality, we built trust with buyers. Our ability to deliver projects that resonate with both investors and end-users, combined with favorable government initiatives and attractive payment plans, positioned us to capture significant market share quickly. 3- Do you foresee Object 1 evolving into a lifestyle brand, given your emphasis on design, community, and customer experience? Yes, that is certainly part of our vision. We are not just building properties; we're creating communities that foster connection, comfort, and long-term satisfaction. Our emphasis on sophistication, sustainability, and tailored customer solutions positions us to become more than a developer, we aim to evolve into a lifestyle brand that defines how people experience urban living. Our focus on customer-centricity, transparency, and innovation will continue to deepen this connection with our residents and investors. 4-If you were to look five years ahead, what role do you want Object 1 to play in the transformation of urban living across the Gulf? Looking ahead five years, I envision Object 1 as a key driver in transforming urban living across the Gulf by setting new standards for sustainable, tech-enabled communities. Guided by this vision, we approach real estate as a form of contemporary art, where every building is a masterpiece—not only in its striking exterior but also in the emotions it inspires the moment you step inside. Our goal is to lead the shift toward future-ready urban living by blending design, innovation, and sustainability to create vibrant, resilient cities that truly enhance residents' quality of life. 5-Dubai's real estate market is highly competitive. How does Object 1 differentiate itself to attract both investors and residents? Our strategy is grounded in understanding market needs and delivering developments with real, lasting value. At Object 1, we focus on creating projects that align with Dubai's demand for smart, sustainable, and investment-friendly living spaces. For example, EVERGR1N HOUSE was designed for the thriving short-term rental market — blending modern architecture with smart technologies to attract both residents and tourists. Meanwhile, V1STARA HOUSE in Al Furjan caters to families, offering spacious layouts, premium finishes, and practical amenities for long-term living. This focused, market-driven approach is reflected in our performance — in Q1 alone, we recorded a 913 per cent year-on-year growth in sales value and a 1059 per cent increase in sales volume, with over 860 units sold. These results show that both investors and residents recognise the value and potential of Object 1 developments. We believe that by combining thoughtful design, smart technology, and a deep understanding of market trends, we continue to stand out in Dubai's dynamic real estate sector. 6-Are there any exciting new launches we should look out for this year? Yes, we're proud to introduce ALTA V1EW, our latest project and set to become one of the tallest towers in Jumeirah Village Circle. Rooted in the concept of 'Life Above It All,' ALTA V1EW redefines modern living with intentional design, panoramic views, and a deep connection to light, nature, and space. Set in District 10 of Jumeirah Village Circle, this striking 54-storey residential tower is designed to offer resort-style living paired with skyline-defining architecture. Featuring floor-to-ceiling windows, smart layouts, and contemporary finishes, the residences create bright, functional spaces. Residents can also enjoy a wide range of amenities — from a lagoon-style pool and landscaped gardens to a gym, clubhouse, tennis courts, and convenient retail outlets. One of the standout features is the Sky Leisure Deck, which includes a Sky Infinity Pool and the Sky Infinity Terrace, offering uninterrupted views of Dubai's skyline and greenery — a true sanctuary above the city. Crowning the development is the Sky Leisure Deck, complete with a Sky Infinity Pool, sunken lounges, and our standout Sky Infinity Terrace — a panoramic viewing deck offering sweeping views of Dubai's skyline and surrounding greenery, creating a true sanctuary above the city. With ALTA V1EW, we continue building on our vision to deliver future-ready, aspirational living spaces that reflect the evolving expectations of Dubai's urban community.
