Latest news with #NawabShajiUlMulk
ME Construction
3 days ago
- Business
- ME Construction
Prospect & Mulk Properties launch ‘The LX' in Arjan, Dubai
Property Prospect & Mulk Properties launch 'The LX' in Arjan, Dubai By The LX is set for handover in Q3 2027 with 71 premium boutique office units and two retail spaces Prospect and Mulk Properties have launched 'The LX', a US $94.5mn boutique office and retail development in Arjan, Dubai. The project was unveiled at a launch event held at the Waldorf Astoria, Palm Jumeirah and aims to meet the growing demand for premium commercial spaces in the city. One Broker Group (OBG) will be the exclusive sales partner for The LX, the statement confirmed. The LX is set for handover in Q3 2027 with 71 premium boutique office units and two retail spaces. The offering is said to represent a rare opportunity for modern businesses and discerning investors to own commercial assets in a location experiencing 'unprecedented growth'. With Dubai witnessing an all-time high demand for flexible, high-specification office spaces, The LX is poised to fill a significant gap in Dubai's commercial real estate sector. Mulk Properties brings international development expertise and long-term vision to the partnership. Dubai's commercial market is undergoing a significant shift, moving away from generic office towers towards purpose built, design-led spaces that prioritise community integration, functionality, and long-term investment value. This launch coincides with this transformative trend, the statement explained. 'The LX marks our strategic entry into Dubai's commercial property segment, and we've done so with intention and insight,' said Nawab Shaji Ul Mulk, Chairman of Mulk International. 'Our focus has always been on high-impact, future-proof developments. With Arjan's explosive growth and limited premium office supply, The LX provides the kind of asset that can define the district. Together with Prospect and OBG, we're setting a new benchmark for what boutique commercial development in Dubai should look like.' 'The LX isn't just another commercial development it's a targeted solution to an urgent market demand,' added Rajat Verma, Co-founder of Prospect. 'Our goal has always been to develop where demand is real and rising. As Dubai grows, so does the need for smart, well-located business infrastructure. Arjan is on the cusp of a commercial renaissance, and The LX will be at the forefront of that transformation. This project exemplifies Prospect's vision of delivering high-return assets in high-potential areas.' 'What sets The LX apart is not just its design or pricing – it's how perfectly it aligns with the market's future,' remarked Umar Bin Farooq, Founder & CEO of One Broker Group. 'We're witnessing a major shift in how commercial real estate is being utilised in Dubai. Businesses want flexibility, quality, and connectivity. Arjan offers all three, and The LX delivers on them at a premium standard. We're proud to represent a development that understands what the market truly needs.' With direct access to major highways, Al Barsha South, Jumeirah Village Circle, and Dubai Science Park, Arjan is one of the few remaining zones offering centrality without congestion. With thousands of new residential units being delivered, the demand for adjacent commercial infrastructure is rising sharply. The LX directly supports this growth by offering a professionally designed, investor-grade asset that balances prestige with practicality. The project exemplifies how visionary partnerships between developers and expert sales strategists can reshape Dubai's commercial real estate future. The LX, drawing strong interest from investors, SMEs, and entrepreneurs seeking a growth-focused location with ROI potential, is led by One Broker Group, which holds the exclusive sales mandate, the statement concluded.
Arabian Business
30-05-2025
- Business
- Arabian Business
Dubai real estate: Prospect, Mulk Properties launch AED350mn premium commercial development in Arjan
Prospect, in partnership with Mulk Properties, announced the launch of The LX, an AED 350 million boutique office and retail development in Arjan. Set for handover in Q3 2027, The LX features 71 premium boutique office units and two curated retail spaces. Unit prices in the project will be starting from AED2 million, the companies said. With demand for flexible, high-specification office spaces at an all-time high in Dubai, The LX is positioned to fill a significant gap in Dubai's evolving commercial real estate sector, the companies said. 'The LX marks our strategic entry into Dubai's commercial property segment, and we've done so with intention and insight,' said Nawab Shaji Ul Mulk, Chairman of Mulk International. 'With Arjan's explosive growth and limited premium office supply, The LX provides the kind of asset that can define the district,' he said. Rajat Verma, Co-founder of Prospect, said the project will be targeted solution to an urgent market demand. 'Our goal has always been to develop where demand is real and rising. Arjan is on the cusp of a commercial renaissance, and The LX will be at the forefront of that transformation,' he said. The launch comes at a time when Dubai's commercial market is seeing a paradigm shift – away from generic office towers toward purpose-built, design-led spaces that prioritize community integration, functionality, and long-term investment value. Arjan, as a well-connected and increasingly sought-after destination, ticks all these boxes, making it the ideal location for Prospect's newest venture, the companies said. One Broker Group (OBG) will be the exclusive sales partner for the project. The companies said their project is already drawing strong interest from investors, SMEs, and entrepreneurs looking to establish themselves in a growth-focused location with excellent ROI potential. With direct access to major highways, Al Barsha South, Jumeirah Village Circle, and Dubai Science Park, Arjan is one of the few remaining zones offering centrality without congestion.
