Signature Developers, a pioneering developer of luxury properties in Dubai, UAE said it is committed to realising more real estate aimed at ultra-high net worth individuals.

With an increasing number of multi-millionaires looking to Dubai for its flexible business opportunities and its connectivity with the rest of the world, the opportunities for luxury home ownership is limited, particularly for the multi-centre business person.

The limited scope of high-end, ultra luxury homes, despite a resurgence in new-build activity, means that for the ever-mobile ultra rich, options are few. Despite the continued development of large-scale villas and mansions, the penthouse concept remains in short supply, according to the team at Signature Developers.

Raju Shroff, director at Signature Developers, owner/developers of The 118 in Downtown Dubai, speaking to Dubai’s Business Breakfast on Dubai Eye 103.8, said: “There is a niche out there for quality, those who are looking for their third or fourth home, and when you reach out to a customer of that level, it’s the lifestyle they’re looking for.

“We’ve done a tremendous amount of research over the last decade, we’ve watched the trends, and seen how the sector has developed, and we can see that the super prime category is under-supplied. Despite its young status, the market is dynamic, and expectations from owners are high.”

Shroff’s partner at Signature Developers, fellow director Jayant Ganwani said: “Ultra luxury property consistently outperforms other segments, as its somewhat protected from global economic issues; people will always turn to bricks and mortar when looking for somewhere to invest their money.

“The long-term gains from property investment, and the versatility to use or rent the property for further financial gain, means that no matter what, property is always a viable proposition.

“Every facet of our projects has been done from a personal perspective; such as ‘what would we need in our home, for entertaining, for family, for convenience, for comfort’ and it’s these findings and realisations that have been built in to the finished design,” continued Ganwani.

Signature Developers has completed handover its super prime development in the Downtown Dubai district, The 118, a luxury condominium tower with just 28-residences; 26 single-storey apartments, and two-duplex penthouses.

Signature Developers is currently overseeing the final stages of The Residences JLT, a mixed-use tower in Dubai’s Jumeirah Lakes Towers, providing the city’s largest master-planned community with its first super prime apartments. 80 luxury residential units which will consist of two, three, four and five-bedroom apartments, as well as full floor penthouses, set atop a five-star hotel to be managed by Taj Hotels & Resorts.

“Our development in Jumeirah Lakes Towers will provide the first upscale development for the DMCC, which has largely been known as a work and live space,” said Shroff.

“The area is coming up in terms of quality residences, when you take in to account the recently announced Uptown Dubai, which is situated at the southern end of the community. According to the Knight Frank’s 2017 Wealth Report, Dubai alone will witness a 60 per cent surge in the number of ultra high net worth individuals (those with personal assets of $30 million or more) by 2026; we are certainly well positioned to create properties for this segment of the market,” concluded Shroff. – TradeArabia News Service