Latest news with #JumeirahLakesTowers
Zawya
3 hours ago
- Business
- Zawya
DMCC and Signature Developers break ground on W Residences Dubai
DMCC and Signature Developers broke ground on W Residences Dubai – Jumeirah Lakes Towers (JLT), in collaboration with Marriott International. The 38-storey tower will include 33 floors, two podium levels, three basement levels, and a ground floor amenities level, DMCC said in a press statement. Once complete, it will offer approximately 185 branded residences, comprising 1-, 2-, and 3-bedroom apartments and 4-bedroom penthouses, and amenities including swimming pool, Jacuzzi, gyms, co-working spaces, and meeting rooms. Phases I and II of W Residences Dubai – JLT have already sold out, with Phase III preparations underway, the statement noted. DMCC and Signature Developers have previously collaborated on The Residences JLT, completed in 2019. (Writing by Deva Palanisamy; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
Gulf News
30-04-2025
- Business
- Gulf News
Saba Properties unveils luxurious Marriott Residences Jumeirah Lakes Towers
Dubai's reputation as a global hub for luxury living took another step forward this week, as Saba Properties unveiled the Marriott Residences Jumeirah Lakes Towers. The launch event, organised by Evolutions at the Ritz-Carlton DIFC, drew a crowd of more than 1,000 investors, brokers, and real estate professionals, underscoring the growing global appetite for branded residences in the city. The evening offered an immersive preview of the project, with attendees exploring detailed architectural renderings, elegant interior designs, and a curated showcase of the amenities that will define life at Marriott Residences JLT. With Dubai increasingly at the forefront of global real estate innovation, the launch reflected broader trends towards branded, service-oriented living. Designed to set a new standard for premium residential developments, the project comprises 534 apartments spanning one- to three-bedroom configurations. Built across three basement levels, a ground floor, four podiums, and 45 residential storeys, the tower culminates in a rooftop sanctuary offering panoramic views across Dubai's skyline. The development also includes 19,500 square feet of retail space, further blending convenience with luxury. Amenities are central to the project's appeal. Residents will have access to an open-to-sky gym, an infinity pool, dedicated children's play areas, tranquil yoga studios, treatment rooms, and a 24th-floor entertainment hub complete with a games room, theatre, and communal lounge. All facilities will be operated under Marriott's signature hospitality standards, promising a lifestyle that marries private living with five-star service. 'Marriott Residences Jumeirah Lakes Towers redefines premium living in Dubai,' said Behrouz Javaheri, Chairman of Saba Properties, emphasising the significance of the launch for Dubai's evolving residential sector. 'This project is not just about architecture or location — it's about creating an experience where luxury and lifestyle meet seamlessly.' Branded residences, once a niche offering, are fast becoming a defining trend in global real estate, particularly in markets such as Dubai, Miami, and London. Marriott Residences JLT joins a growing roster of developments catering to affluent buyers seeking not just a home, but a globally recognised standard of living.
Arabian Business
23-04-2025
- Business
- Arabian Business
Dubai office market to expand by 415,000 square metres through 2026: Report
Dubai's office space inventory will expand by 415,000 square metres by the end of 2026, with most new developments falling into the A-grade category, according to research from Cavendish Maxwell. The property consultant reports that 185,000 square metres will enter the market this year, followed by 230,000 square metres in 2026. This expansion will increase Dubai's total office space inventory to 9.7 million square metres from the current 6.26 million. Dubai office deals soar The research comes as Dubai's office market recorded 3,150 sales valued at AED6.8 billion in 2024, representing a 36 per cent increase in values and a 7.1 per cent rise in transactions. Business Bay dominated office sales, accounting for 46 per cent of all transactions. Vidhi Shah, Partner and Head of Commercial Valuation, Cavendish Maxwell, said: 'Dubai's office market continues to perform strongly, supported by sustained corporate expansion and increased levels of foreign investment. The city's stable macroeconomic environment, coupled with pro-business legislation, continues to attract both multinational occupiers and a growing base of start-ups and SMEs. This has translated into heightened competition for well-located, prime office space.' The 2024 figures mark four consecutive years of growth since the pandemic, with sales values increasing fivefold from AED1 billion in 2020 to AED6.8 billion last year. Ready offices constituted 92 per cent of transactions, though off-plan sales increased compared to 2023. The market saw 2,900 ready office sales and 250 off-plan transactions in 2024, representing year-on-year increases of 5 per cent and 37 per cent respectively. Rental prices surge sharply Both sales and rental prices rose by nearly 25 per cent last year. Sales prices reached approximately AED1,550 per square foot, while rental rates climbed to approximately AED145 per square foot. Cavendish Maxwell attributes the rental price surge to high occupancy levels, which create market conditions favouring landlords. Business Bay led ready office sales with 1,343 transactions, followed by Jumeirah Lakes Towers (920), Dubai Silicon Oasis (200), Barsha Heights (148) and Motor City (68). For off-plan sales, Jumeirah Village Circle topped the list with 91 transactions, followed by Dubai Maritime City (65), Culture Village (47), Dubai Silicon Oasis (20) and Jumeirah Lakes Towers (15). Rent increases varied across locations, with A-grade premises experiencing the largest year-on-year rises. Downtown Dubai saw rents increase by nearly 42 per cent, while DIFC rates climbed by more than 38 per cent. Barsha Heights recorded the highest increase for non-A-grade spaces at 43.5 per cent. Corporate demand driving growth The business services sector drove demand for new office space, accounting for 45 per cent of requirements. Finance and banking followed at 22 per cent, with technology and innovation companies (6 per cent), creative, media and design businesses (4 per cent), and real estate and property development firms (3 per cent) comprising smaller segments of demand. 'The market recorded significant growth in both sales and rental values over the past year. Looking ahead, as Dubai further enhances its infrastructure, expands free zone offerings, and rolls out additional business-friendly reforms, demand is expected to remain resilient. However, with a substantial volume of new supply due for delivery over the next 18–24 months, it will be important to track how this impacts vacancy levels, absorption rates, and overall market sentiment,' Shah concluded.
Zawya
03-04-2025
- Business
- Zawya
Has Dubai's branded residences boom reached its peak?
Dubai's real estate market, a global stage for architectural ambition and luxury, is moving into a new era with the rapid rise of branded residences. These exclusive developments, created in partnership with top global brands like Armani, Bugatti, and Kempinski, offer more than high-end homes - they promise a lifestyle that resonates with high-net-worth individuals (HNWIs) and seasoned investors. Yet, as the market expands at a breakneck pace, a question lingers: has Dubai's appetite for branded residences reached its limit, or is there still untapped potential? As someone who's spent years working closely with developers and investors alike, I see this sector's appeal up close, stated Sean McCauley, the co-founder and CEO of Dubai-based property consultancy Devmark. In 2024 alone, Dubai launched 17 new branded projects, adding to an impressive lineup of 121 developments and over 39,000 units citywide. The demand is evident: AED28.8 billion in sales came through in just the first six months of this year. With an additional 70 projects anticipated by 2028, it's clear that developers are confident in the segment's growth, though I can understand concerns around potential saturation, he stated. Branded residences popular In my experience, branded residences hold value because they offer buyers more than just property - they provide a trusted name, a community, and an investment in something lasting. Buyers today are savvy; they want security in their investments, and a reputable brand often represents that, explained McCauley. For the HNWIs flocking to Dubai (Henley & Partners reported a 62% rise in this group relocating to the city in 2024 alone), these residences offer not only homes but lifestyle choices aligned with their preferences for luxury, exclusivity, and quality. One of the standout projects we've launched is the W Residences Dubai – Jumeirah Lakes Towers (JLT), known for its energetic brand appeal, which has shown me how much these developments are moving beyond mere luxury. Today's affluent buyers want experiences, convenience, and community wrapped into their lifestyle investments. The project drew strong interest from HNWIs, many of whom were captivated by the brand's contemporary vibe and tailored services, he stated. It reflects the 'hotel at home' concept, where hospitality-inspired amenities - such as concierge services, wellness facilities, and dynamic social spaces - are seamlessly integrated into residential living. When people think of branded residences, they often default to hospitality giants like Four Seasons and Ritz-Carlton. While these brands have defined the segment, the universe of branded residences is far more expansive. Today, lifestyle, automotive, fashion, and even tech brands are entering this space, each bringing its unique identity and appeal. For instance, lifestyle-driven brands focus on creativity, ethos, and cultural identity, offering an experience rather than just luxury, said McCauley. What's particularly exciting is how storytelling plays an increasingly pivotal role in branded developments. A brand doesn't have to be globally recognised to resonate with buyers; it just needs a compelling narrative, he explained. For instance, a lesser-known fashion or tech brand can focus on sustainability, craftsmanship, or innovation, creating an emotional connection with buyers who value those principles. Developers need to think beyond what they consider 'good brand' and instead explore those that offer meaningful, distinctive experiences, he added. Regardless of the brand, one of the key considerations for developers exploring branded residences is time to market. Partnering with a brand requires navigating design approvals, marketing strategies, and legal agreements - all of which can significantly extend timelines. Understanding the parameters of each brand, the expectations around interior design and brand guidelines is key for real estate developers, but as we've seen in projects like Kempinski Marina Residences and W Residences Dubai - JLT, a clear vision and meticulous planning can make all the difference in delivering a project that exceeds market expectations, he noted. Need for differentiation, innovation In a market as competitive as Dubai's, I've seen firsthand that branded residences need more than just a well-known logo on the door - they need a robust and distinctive identity that appeals to the buyers of today. The Kempinski Marina Residences in Dubai, a project we helped launch, underscored this. Selling out in hours and achieving AED1 billion in sales, its success was driven by prime location, thoughtful design, and standout amenities like a private 25-seater movie theatre, golf simulator, and wellness facilities. Projects like this show how powerful it can be when a brand's values are carefully aligned with the property's features, remarked McCauley. There's also a shift in what different generations of buyers want. I see younger, lifestyle-driven clients drawn to branded residences that reflect a modern identity. For many, these homes have become statements of style, self-expression, and ambition, he pointed out. "To capture this audience, I believe the most successful developments will be those beyond traditional luxury, offering experiences that appeal to a more contemporary mindset. Developments like Mama Residences perfectly capture this trend with their vibrant, artistic design led by French architect El Doghaili Benjamin. Every detail, from the mosaic steps to the kaleidoscopic glass accents, creates a dynamic living experience," he noted. It's not just residences that are evolving; commercial spaces in Dubai too are transforming. The concept of office spaces being designed to blend work and lifestyle seamlessly are gaining traction. Today's best commercial towers feature gyms, daycare facilities, premium food and beverage options, and amenity floors to attract tenants and enhance productivity. New hotelification trend This trend of 'hotelification' extends the principles of branded residences into workplaces, further blurring the lines between living and working environments, stated McCauley. Looking ahead, Dubai's branded residence market is maturing, and differentiation will be the cornerstone of its continued growth. Buyers are no longer satisfied with cookie-cutter luxury; they crave authenticity, hyper-customisation, and sustainability. Projects that embrace innovative partnerships, cutting-edge technology, and wellness-oriented designs will continue to lead the market, he added. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
02-04-2025
- Business
- Trade Arabia
Has Dubai's branded residences boom reached its peak?
Dubai's real estate market, a global stage for architectural ambition and luxury, is moving into a new era with the rapid rise of branded residences. These exclusive developments, created in partnership with top global brands like Armani, Bugatti, and Kempinski, offer more than high-end homes - they promise a lifestyle that resonates with high-net-worth individuals (HNWIs) and seasoned investors. Yet, as the market expands at a breakneck pace, a question lingers: has Dubai's appetite for branded residences reached its limit, or is there still untapped potential? As someone who's spent years working closely with developers and investors alike, I see this sector's appeal up close, stated Sean McCauley, the co-founder and CEO of Dubai-based property consultancy Devmark. In 2024 alone, Dubai launched 17 new branded projects, adding to an impressive lineup of 121 developments and over 39,000 units citywide. The demand is evident: AED28.8 billion in sales came through in just the first six months of this year. With an additional 70 projects anticipated by 2028, it's clear that developers are confident in the segment's growth, though I can understand concerns around potential saturation, he stated. Branded residences popular In my experience, branded residences hold value because they offer buyers more than just property - they provide a trusted name, a community, and an investment in something lasting. Buyers today are savvy; they want security in their investments, and a reputable brand often represents that, explained McCauley. For the HNWIs flocking to Dubai (Henley & Partners reported a 62% rise in this group relocating to the city in 2024 alone), these residences offer not only homes but lifestyle choices aligned with their preferences for luxury, exclusivity, and quality. One of the standout projects we've launched is the W Residences Dubai – Jumeirah Lakes Towers (JLT), known for its energetic brand appeal, which has shown me how much these developments are moving beyond mere luxury. Today's affluent buyers want experiences, convenience, and community wrapped into their lifestyle investments. The project drew strong interest from HNWIs, many of whom were captivated by the brand's contemporary vibe and tailored services, he stated. It reflects the 'hotel at home' concept, where hospitality-inspired amenities - such as concierge services, wellness facilities, and dynamic social spaces - are seamlessly integrated into residential living. When people think of branded residences, they often default to hospitality giants like Four Seasons and Ritz-Carlton. While these brands have defined the segment, the universe of branded residences is far more expansive. Today, lifestyle, automotive, fashion, and even tech brands are entering this space, each bringing its unique identity and appeal. For instance, lifestyle-driven brands focus on creativity, ethos, and cultural identity, offering an experience rather than just luxury, said McCauley. What's particularly exciting is how storytelling plays an increasingly pivotal role in branded developments. A brand doesn't have to be globally recognised to resonate with buyers; it just needs a compelling narrative, he explained. For instance, a lesser-known fashion or tech brand can focus on sustainability, craftsmanship, or innovation, creating an emotional connection with buyers who value those principles. Developers need to think beyond what they consider 'good brand' and instead explore those that offer meaningful, distinctive experiences, he added. Regardless of the brand, one of the key considerations for developers exploring branded residences is time to market. Partnering with a brand requires navigating design approvals, marketing strategies, and legal agreements - all of which can significantly extend timelines. Understanding the parameters of each brand, the expectations around interior design and brand guidelines is key for real estate developers, but as we've seen in projects like Kempinski Marina Residences and W Residences Dubai - JLT, a clear vision and meticulous planning can make all the difference in delivering a project that exceeds market expectations, he noted. Need for differentiation, innovation In a market as competitive as Dubai's, I've seen firsthand that branded residences need more than just a well-known logo on the door - they need a robust and distinctive identity that appeals to the buyers of today. The Kempinski Marina Residences in Dubai, a project we helped launch, underscored this. Selling out in hours and achieving AED1 billion in sales, its success was driven by prime location, thoughtful design, and standout amenities like a private 25-seater movie theatre, golf simulator, and wellness facilities. Projects like this show how powerful it can be when a brand's values are carefully aligned with the property's features, remarked McCauley. There's also a shift in what different generations of buyers want. I see younger, lifestyle-driven clients drawn to branded residences that reflect a modern identity. For many, these homes have become statements of style, self-expression, and ambition, he pointed out. "To capture this audience, I believe the most successful developments will be those beyond traditional luxury, offering experiences that appeal to a more contemporary mindset. Developments like Mama Residences perfectly capture this trend with their vibrant, artistic design led by French architect El Doghaili Benjamin. Every detail, from the mosaic steps to the kaleidoscopic glass accents, creates a dynamic living experience," he noted. It's not just residences that are evolving; commercial spaces in Dubai too are transforming. The concept of office spaces being designed to blend work and lifestyle seamlessly are gaining traction. Today's best commercial towers feature gyms, daycare facilities, premium food and beverage options, and amenity floors to attract tenants and enhance productivity. New hotelification trend This trend of 'hotelification' extends the principles of branded residences into workplaces, further blurring the lines between living and working environments, stated McCauley.
