Construction & Real Estate

Top Dubai brokerage drives sale of biggest plot in Business Bay

Driven Properties, a leading real estate brokerage in Dubai, said it has orchestrated the sale of one of the largest plots in Business Bay, paving the way for the building of a new, sustainable, premium office park by Lamar Development.

The office park will serve as a welcome addition to the area, addressing the critical shortage of Grade A office spaces in Business Bay and the city at large.

This investment on the canal strip puts the Gross Development Value for Lamar’s existing and upcoming developments across the canal to over AED12 billion ($3.26 billion).

With neighbouring off-plan office developments seeing prices that exceed AED7,000 per sq ft, the sale solidifies Driven Properties’ position as a trusted provider, even in the face of short supply.

The plot, sitting at the cusp of an extension of Marasi Drive, spans 333,000 sq ft with a gross floor area (GFA) of 1.02 million sq ft and is widely considered the most desirable location in Business Bay.

Nestled within the Dubai Canal, its prime positioning and 270-degree waterfront views contribute to its exceptional appeal.

Abdullah Alajaji, Founder and CEO of Driven Properties, said: "This landmark deal in Business Bay exemplifies Driven Properties' expertise in navigating complex, high-value transactions.

“We're proud to have facilitated the sale of this plot, which will pave the way for a sustainable office park project that aligns with Dubai's vision of a vibrant and sustainable city,” he noted.

The office park will feature a range of amenities, including a vibrant culture district, a performing arts theatre, and ultra-high-end office spaces.

This project is poised to become a landmark destination in Business Bay, attracting businesses and professionals seeking a dynamic and modern work environment.

As the biggest plot in the area, this latest transaction adds to Driven Properties’ impressive track record of facilitating high-value real estate deals in Dubai, particularly in the ultra-luxury sector.

Driven Properties continues to be at the forefront of catering to the growing demand for premium real estate, guided by its unwavering commitment to professionalism and expertise.-TradeArabia News Service

Construction & Real Estate

Alef Group unveils new neighbourhood community in Sharjah

Alef Group, a leading real estate developer in Sharjah, has announced the launch of Al Mamsha Hamsa at the ongoing Acres 2025, following the exceptional success and high demand generated by its Nama and Darb clusters. 
 
Al Mamsha Hamsa comprises three buildings with a total of 420 units spanning 50,000 square meters of built-up area, featuring one- to three-bedroom apartments, said the developer. 
 
Designed to blend modern living with serene, landscaped surroundings, each residence offers carefully planned interiors and access to a vibrant retail area, ensuring comfort and convenience for families, professionals, and investors.
 
This new neighborhood is poised to further solidify Al Mamsha as a sought-after destination in Sharjah’s real estate landscape, it added.
 
On the key project, CEO Issa Ataya said: "This launch underscores our commitment to creating premium residential communities in Sharjah, where contemporary design meets tranquil landscapes to provide a refined lifestyle experience."
 
"Strategically situated on the left edge of Al Mamsha, the neighborhood boasts a dedicated podium level offering open views, swimming pools, landscaped gardens, and calming water elements that promote a sense of natural tranquility," he noted. 
 
"We look forward to further enriching Sharjah’s booming real estate market with this exciting addition," he added.
 
With its proximity to Sharjah International Airport, the University City of Sharjah, and major highways, Al Mamsha Hamsa ensures seamless connectivity and ease of living. 
 
By integrating premium amenities, sustainable design, and a prime location, Alef Group continues to redefine modern living in the Emirate of Sharjah, stated the developer.-TradeArabia News Service

Construction & Real Estate

Reef Luxury Developments launches $81.68m project in Al Furjan

Reef Luxury Developments, a pioneer in innovative real estate solutions, has launched its second luxurious project Reef 999, located in Al Furjan, Dubai, a vibrant and family-friendly area.
 
The new AED300-million ($81.68 million) residential project, which builds on the success of its Reef 1000 project, will feature the developer’s patented climate-controlled sunken balcony and unique winter gardens making it a standout addition to the real estate landscape.
 
Reef 999 offers 142 units, including 108 one-bedroom apartments, 20 two-bedroom apartments, four three-bedroom apartments, and 10 exclusive villas with private winter gardens. 
 
The anticipated handover of the project is Q1, 2027. 
 
“We are thrilled with the response that we have received for our projects and furthermore excited to launch Reed-999 continuing to focus on outdoor living in the UAE. Our project offers an exceptional luxury experience and investment value by maximizing livable spaces and integrating innovative design elements that cater to the modern lifestyle,” said Samer Ambar, CEO, Reef Luxury Developments.  
 
Residents will enjoy a wide range of innovative features and luxurious amenities that cover  60,000 sq ft of the total project size, including climate controlled sunken balcony, winter garden, indoor technology, yoga area, vegetable garden, BBQ areas, cricket pitch, pickle ball, badminton, volleyball court, jogging track, tennis, paddle court, Jacuzzi, swimming pool, Baja shelf, sitting areas, co-working space, open cinema, decking area, kids play area and more. 
 
Reef Luxury Developments is committed to sustainability, incorporating cutting-edge sustainable practices and technologies to enhance environmental responsibility reflected in the use of energy-efficient systems and the integration of green spaces throughout the community, it said. 
The developer offers a convenient payment plan for potential buyers with prices starting from AED1,158,000.  – TradeArabia News Service