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RAK’s Hilton, Al Hamra to Launch 43 Ultra-Luxury Apartments

RAK’s Hilton, Al Hamra to Launch 43 Ultra-Luxury Apartments

May 11, 2024

In an exciting collaboration between global hospitality leader Hilton and esteemed lifestyle developer Al Hamra in the United Arab Emirates, Waldorf Astoria Residences Ras Al Khaimah is set to make its grand debut in 2026, marking the introduction of the first Waldorf Astoria Residences as part of a managed report in the UAE. This landmark development is poised to redefine luxury living standards in the Northern Emirates. Read this also : Record-Breaking Success: Aldar Sells Out First Two Phases of Athlon in 48 Hours, Generating AED 4.1 Billion Situated within the prestigious Waldorf Astoria Ras Al Khaimah resort, the project will offer forty-three ultra-luxurious residences meticulously crafted to provide an unparalleled living experience. Featuring carefully curated furnishings, an array of exclusive amenities, and unique privileges for residents, the development promises to elevate the concept of opulence. The residences boast lavish interiors complemented by sweeping views of the Al Hamra Golf Course and the serene waters of the Arabian Gulf. A highlight of the project is the dedicated private resident lounge situated on the 16th floor, complete with a skylight terrace, cigar salon, bespoke wine storage and tasting room, lounge area, and private dining spaces, all offering breathtaking vistas of the Arabian Gulf. Read this also : UAE Property: Can a Landlord Raise the Rent by Any Amount? Benoy Kurien, Group CEO of Al Hamra, expressed his enthusiasm for the project, emphasizing its reflection of the growing demand for upscale luxury living and premium services in the northern emirates. He highlighted the confidence of global investors in the emirate’s progress and their eagerness to call it home, citing Al Hamra’s expertise in delivering innovative lifestyle experiences in Ras Al Khaimah, combined with Waldorf Astoria’s timeless luxury and impeccable service, as the driving force behind the creation of this exceptional product. Dino Michael, Global Category Head at Hilton Luxury Brands, hailed the launch of Waldorf Astoria Residences Ras Al Khaimah as a significant milestone, setting a new standard for luxury residential projects and underscoring Hilton’s commitment to delivering unparalleled experiences in both the hospitality and real estate sectors. He noted that this development aligns with Hilton’s strategy of expanding its luxury portfolio with branded residential projects in coveted destinations worldwide, including Athens, New York, Costa Rica, and Downtown Dubai. Read this also : Dubai Leads the Middle East with 72,500 Millionaires With an array of world-class amenities, including access to the resort’s acclaimed dining venues, leisure facilities, and a private spa featuring state-of-the-art fitness and wellness amenities, Waldorf Astoria Residences Ras Al Khaimah promises to offer residents a truly exceptional living experience marked by timeless elegance and unparalleled luxury.

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Record-Breaking Success: Aldar Sells Out First Two Phases of Athlon in 48 Hours, Generating AED 4.1 Billion

Record-Breaking Success: Aldar Sells Out First Two Phases of Athlon in 48 Hours, Generating AED 4.1 Billion

May 10, 2024

Aldar Properties (Aldar) recently announced the rapid sell-out of the first two phases of its innovative active living development, Athlon, within just 48 hours of its launch. The sale generated AED 4.1 billion in sales, marking a significant milestone in Aldar’s entry into the Dubai real estate market in partnership with Dubai Holding, a diversified global investment company with investments in 31 countries. Read this also : UAE Property: Can a Landlord Raise the Rent by Any Amount? The development saw over 1,000 villas and townhouses sold, with expatriate residents and overseas buyers accounting for 81% of sales. This highlights Dubai’s growing appeal as a global hub for investment and relocation. Buyers from India, China, and Jordan emerged as the top three nationalities by sales volume. Female buyers represented 21% of total sales, while male buyers made up the remaining 79%. Additionally, 65% of buyers were under the age of 45, demonstrating a robust demand for active, community-oriented lifestyles among younger individuals. Notably, 82% of sales were to first-time buyers of an Aldar property, underscoring the expanding reach of Aldar’s customer base both locally and internationally. Read this also : Dubai Leads the Middle East with 72,500 Millionaires Jonathan Emery, Chief Executive Officer of Aldar Development, commented on the sales performance: “The launch of Athlon has been a resounding success, resulting in Aldar’s highest-ever sales figures at a development launch with two days of intense sales in the UAE and overseas. Our customers, both locally and internationally, expressed their desire to invest in and reside in communities designed for active lifestyles and wellness, and we have delivered on that vision with Athlon. The sales performance reinforces our confidence in introducing more residential concepts in Dubai in the near future.” Aldar’s success with Athlon points to strong demand for properties that prioritize active living and wellness, indicating a positive trend for future developments in Dubai’s real estate market.

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2 Bedroom apartment for sale in Burj khalifa | Full Fountain view

UAE Property: Can a Landlord Raise the Rent by Any Amount?

May 10, 2024

Question: My landlord recently passed away, and now a rental company manages his properties. They sent me a notice stating that my next rent will be Dh65,000 per year, marking an increase of 46%. Is the rental company legally allowed to impose this increase? Please advise. — NA, Dubai. Read this also : Dubai Leads the Middle East with 72,500 Millionaires Answer: Before I address your question, I need to clarify a few points. By saying your landlord expired, do you mean he passed away, or is he still the owner while a rental company now manages the properties? Do they have the power of attorney to act on behalf of the landlord? Have you seen any documents proving they can handle his properties? In any event, rent increases must adhere to specific procedures. First, the notification of the rent change must be communicated in writing (email is acceptable), giving you at least 90 days’ notice. The actual increase in rent is determined by the Real Estate Regulatory Agency (RERA) rental calculator, not solely at the discretion of the landlord or rental company. The law stipulates that the maximum rent increase in a single year is 20%, and this is only permitted if the rental calculator or Decree 43 of 2013 allows for it. Therefore, the rental company cannot request a 46% increase at renewal. Read this also : Aldar Launches Athlon, Dubai’s First ‘Active Living’ Community Question: I rented out my apartment in 2019 for Dh75,000. During the Covid-19 pandemic, my tenant insisted on reducing the rent to Dh50,000 and refused to move. Due to personal circumstances, I agreed. Later, I tried not to renew the lease, but my tenant filed a case with RERA and renewed at Dh50,000 last year. He wants to renew at Dh55,000 now, but I have asked for Dh68,000 as he needs to pay chiller fees that have been unpaid throughout the period. He has also refused to pay the DEWA bill, which now stands at over Dh4,000. Furthermore, he hasn’t paid chiller fees, accumulating Dh100,000 in arrears. Read this also : Emirates to Shift Operations to Al Maktoum Airport in a Single Move by 2034 Can you advise me on how to contact the Rental Dispute Settlement Committee? The tenant has damaged the apartment and denied me access. He also refuses to provide his visa page, preventing me from contacting his employer. Additionally, he has sublet the apartment’s parking. — SH, Dubai Answer: Given your situation, I recommend filing a case with the rental committee to resolve the matter and close this chapter. You can file a case online or in person. Although online applications are more convenient, you may have questions, so visiting the center in Deira to speak directly with them is advisable. Read this also : SHA Emirates Residences Launches on Al Jurf Island, UAE Regardless of your chosen method, filing a case will cost 3.5% of the rental amount in fees. However, this cost is often (but not always) refunded to you if you win the case. To file online, visit the Dubai Land Department’s official website or download the Dubai Rest app. Go to the rent dispute resolution portal page, fill out the necessary information, upload the documents to obtain a judgment with an execution writ seal, and pay the fees online. Alternatively, you can visit the Rental Dispute Settlement Committee (RDSC) at the Land Department building in Deira. Typing centers and translation services are available, as the documents need to be in Arabic. The staff can guide you through the process step by step.

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Dubai Leads the Middle East with 72,500 Millionaires

Dubai Leads the Middle East with 72,500 Millionaires

May 10, 2024

Dubai has emerged as the wealthiest city in the Middle East, boasting a population of 72,500 millionaires according to a report by global intelligence provider New World Wealth and Henley & Partners. The city ranks 21st among the wealthiest cities globally, with a notable increase in the number of millionaires—78%—over the past decade. Read this also : Ohana Development Unveils Elie Saab Waterfront: Al Reem Island’s First Branded Residence The report highlights that Dubai is home to 15 billionaires and 212 centi-millionaires, defined as individuals with a net worth of at least $100 million in investable assets. Dubai’s rising wealth is a testament to its growing appeal as a hub for affluent residents and investors. Abu Dhabi follows closely with a millionaire population of 22,700, making it the next major wealth center in the region. The capital city also boasts 68 centi-millionaires and five billionaires, with a 75% increase in millionaires over the past ten years. Read this also : Damac Properties Unveils Plans for Expansion in APAC Region Sharjah has also experienced significant growth, with a 95% increase in its millionaire population over the past decade. The emirate now houses 4,100 millionaires and 11 centi-millionaires. Riyadh has seen a 40% growth in its millionaire population over the last decade, now home to 18,200 millionaires, 67 centi-millionaires, and eight billionaires. Similarly, Jeddah hosts 7,500 millionaires, 32 centi-millionaires, and eight billionaires. Tel Aviv is the only other Middle Eastern city in the top 50 wealthiest cities globally, with 24,300 millionaires. Read this also : Flydubai to Begin Operations in Jebel Ali Within the Next Few Years “The S&P 500’s 24% gain, along with significant surges in tech stocks and cryptocurrencies, has boosted the fortunes of the wealthy,” commented Juerg Steffen, CEO of Henley & Partners. “Furthermore, advances in artificial intelligence, robotics, and blockchain technology have provided new avenues for wealth creation.” A report from Boston Consulting Group predicted global wealth growth of approximately 5% in 2023, with global wealth reaching $267 trillion. Factors such as China’s economic reopening and the Middle East’s expansion contributed to this trend. Globally, New York City tops the list as the richest city with 349,500 millionaires and a combined wealth surpassing many major G20 nations. The city also houses 60 billionaires and 744 centi-millionaires. Read this also : Emirates to Shift Operations to Al Maktoum Airport in a Single Move by 2034 Following New York are San Francisco Bay Area and Tokyo, ranked second and third respectively in terms of millionaire residents. Other cities like Singapore, London, and Los Angeles also make the top 10 list. Shenzhen leads as the fastest-growing wealthy city globally, with a 140% increase in millionaires over the past decade. In conclusion, Dubai’s rise as a wealthy city highlights its growing appeal for affluent individuals seeking investment opportunities and luxury lifestyles. With its strategic location and forward-thinking policies, Dubai continues to attract and retain high-net-worth individuals from around the world. Top 5 Wealthiest Cities in the Middle East and Their Millionaire Populations: Dubai: 72,500 Tel Aviv: 24,300 Abu Dhabi: 22,700 Riyadh: 18,200 Jeddah: 7,500 Read this also : Bloom Holding Sells Out Sixth Phase of Bloom Living, Olvera Top 10 Wealthiest Cities Globally and Their Millionaire Populations: New York: 349,500 San Francisco Bay Area: 305,700 Tokyo: 298,300 Singapore: 244,800 London: 227,000 Los Angeles: 212,100 Paris: 165,000 Sydney: 147,000 Hong Kong: 143,400 Beijing: 125,600

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Ohana Development Unveils Elie Saab Waterfront: Al Reem Island's First Branded Residence

Ohana Development Unveils Elie Saab Waterfront: Al Reem Island’s First Branded Residence

May 10, 2024

Ohana Development, with the leading associate Metropolitan Capital Real Estate, is launching Elie Saab Waterfront, the first branded residential tower on Al Reem Island, marking a milestone for luxury real estate in Abu Dhabi. Read this also : Aldar Launches Athlon, Dubai’s First ‘Active Living’ Community The Elie Saab Waterfront project represents a groundbreaking development in the luxury market. The 39-story skyscraper will offer 174 lavish residences and 300 parking spaces. Prices range from AED 2 million to AED 45 million, with the project’s completion slated for the first quarter of 2027. Phase one of the project selling out quickly demonstrates the robust demand in Abu Dhabi’s real estate market. Read this also : Damac Properties Unveils Plans for Expansion in APAC Region This exceptional project is a collaboration with renowned fashion designer Elie Saab, blending haute couture with high-end real estate. It combines Elie Saab’s distinct design style with Ohana Development’s reputation for excellence and sustainability in construction. Residents can expect homes featuring Elie Saab’s signature style—elongated lines, rich textures, and timeless elegance. Last year, Metropolitan Capital Real Estate sold over 100 luxury villas in the Ohana by the Sea development, showcasing the company’s efficiency in luxury real estate sales. Read this also : Flydubai to Begin Operations in Jebel Ali Within the Next Few Years “Our collaboration with Elie Saab marks a significant milestone in luxury real estate,” said Husein Salem, CEO of Ohana Development. “Elie Saab Waterfront represents the pinnacle of luxury living and architectural innovation, offering our discerning clientele an enriching experience.” Evgeny Ratskevich, CEO of Metropolitan Capital Real Estate, added, “Elie Saab Waterfront is a unique offering in one of Abu Dhabi’s most exclusive communities, providing stunning views of the Arabian Gulf, Al Reem Island skyline, and the marina.” Read this also : SHA Emirates Residences Launches on Al Jurf Island, UAE Residents will have access to amenities such as a state-of-the-art fitness center, luxurious spa, paddle court, electric vehicle charging stations, and infinity pools with views of the city skyline. These amenities contribute to an opulent yet effortless lifestyle. The interiors, from the grand lobby to the private apartments, feature custom furnishings, premium materials, and a sophisticated color palette, immersing residents in an atmosphere of pure elegance and sophistication.

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Aldar Launches Athlon, Dubai’s First ‘Active Living’ Community

Aldar Launches Athlon, Dubai’s First ‘Active Living’ Community

May 9, 2024

Aldar Properties (Aldar) has introduced Athlon, a groundbreaking “active living” community in Dubai that focuses on holistic wellness and community engagement. This development blends top-notch amenities with an innovative activity schedule curated by wellness specialists, aiming to foster long-term well-being and a strong sense of community among residents. Read this also : Damac Properties Unveils Plans for Expansion in APAC Region Athlon marks Aldar’s second major residential project in Dubai, following the success of Haven by Aldar, which launched in late 2023. Developed in partnership with Dubai Holding, a diversified global investment company with operations in 31 countries, Athlon redefines fitness-oriented living for residents. Strategic Expansion Jonathan Emery, Chief Executive Officer of Aldar Development, commented, “The launch of Athlon is a pivotal step in our ambitious expansion strategy in Dubai, building upon the success of Haven by Aldar. We anticipate high demand for exceptional residential projects from local and international investors, and Athlon’s unique approach is set to appeal to a broad audience of investors and homeowners, setting a new benchmark for active living in the region.” Read this also : Flydubai to Begin Operations in Jebel Ali Within the Next Few Years Prime Location and Features Located adjacent to Global Village in a coveted area, Athlon seamlessly integrates interactive green spaces with vibrant parks, green walkways, and athletic areas. The community offers a wide range of activities suited to all ages and interests. Named after the Greek term for “place of contest,” Athlon features a captivating central park as its core, surrounded by seven clubhouses and four distinct parks: Adventure, Play, Wellness, and Valley. These areas are designed to facilitate social interaction and fitness. The community offers over 10 kilometers of paths and trails, including a cycling loop that connects to Al Qudra’s famous track, providing numerous opportunities for jogging, cycling, rollerblading, and functional training. Read this also : SHA Emirates Residences Launches on Al Jurf Island, UAE Comprehensive Wellness Approach Athlon thoughtfully considers the full spectrum of wellness, encompassing physically demanding activities and those that prioritize well-being, sports, play, and socializing. This focus benefits residents, guests, and employees alike. Within the natural landscape, experiences that promote movement, energy, clarity, flow, and balance can be found. State-of-the-art facilities include a gym, a lively café, luxurious massage rooms, a calming sauna, a tranquil yoga room, and an imaginative kids’ playroom. The community comprises 1,492 residential units surrounding the parks, including three- to four-bedroom townhouses, three- to five-bedroom standard villas, and four- to six-bedroom premium villas. These residences are designed to maximize natural light and use materials and colors that enhance space and well-being. Read this also : Jumeirah Unveils New Brand Identity Amid Major Expansion Plans Commitment to Sustainability Aldar’s commitment to sustainability and net-zero targets is evident in Athlon’s development. The project incorporates low-carbon and locally sourced materials, as well as ethical green building techniques. Smart waste disposal systems, electric vehicle charging stations, water and energy-saving fixtures, and easy access to public transportation contribute to Athlon’s LEED Platinum pre-certification. Additionally, Athlon has earned a 2-star rating from Fitwel, a leading certification system dedicated to building health for all. This reflects the development’s commitment to promoting health, well-being, and active lifestyles. The first phase of sales for the development will commence on May 7, with prices starting at AED 2.8 million. Athlon represents a new era of living in Dubai, focusing on creating a vibrant, sustainable community dedicated to active lifestyles.

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Damac Properties Unveils Plans for Expansion in APAC Region

Damac Properties Unveils Plans for Expansion in APAC Region

May 9, 2024

Damac Properties, a leading international real estate developer headquartered in the United Arab Emirates, has announced its expansion into the Asia-Pacific (APAC) region with the opening of new offices in Beijing and Singapore. This strategic move marks Damac’s commitment to expanding its global presence and investing significantly in the APAC market. Read this also : Flydubai to Begin Operations in Jebel Ali Within the Next Few Years Since its establishment in 1982, Damac has become synonymous with luxury real estate development, having built an extensive and diverse portfolio that spans retail, fashion, capital markets, luxury real estate, and hospitality experiences. The developer’s decision to enter the Chinese market was initially announced in December 2023, with plans to relocate to Shanghai. This move aims to cater to the growing interest from Chinese high-net-worth and ultra-high-net-worth investors in both the UAE and Damac’s portfolio. Read this also : Emirates to Shift Operations to Al Maktoum Airport in a Single Move by 2034 The official ribbon-cutting ceremony for the new offices in Singapore featured key figures, including Mohamed Al Zarooni, UAE Head of Economic Affairs and Media in Singapore; Hany Kotat, VP of International Sales at Damac Properties; Dr. Brian Shegar, President of the UAE Singapore Business Council; and Ambassador Jamal Abdulla Al Suwaidi, UAE Ambassador to the Republic of Singapore. Representatives from leading Singaporean brokerage firms such as Propex, Huttons, ERA, Orange Tee and Tie, and SRI also attended the event. Read this also : SHA Emirates Residences Launches on Al Jurf Island, UAE Redefining Luxury in the APAC Region Abbas Sajwani, Board Member at Damac Properties, expressed his enthusiasm for the company’s expansion into the APAC region: “Damac Properties has been redefining luxury since 2002, and we are thrilled to expand our footprint further into APAC with our new offices in Beijing and Singapore. With excellence embedded in our core, we strive to deliver the highest international standards in our projects.” Sajwani added that discerning investors across the APAC region are seeking premium, high-quality developments for both investment purposes and personal residences. Damac looks forward to collaborating with partners to introduce its esteemed global portfolio to the APAC market. Read this also : Jumeirah Unveils New Brand Identity Amid Major Expansion Plans Damac’s impressive portfolio currently consists of over 75 towers, numerous branded homes, expansive communities, hotels, and hotel apartments across 12 international cities, including Dubai, London, Toronto, and Riyadh. Prominent projects include Damac Tower Nine Elms London, the first Versace-branded luxury residential skyscraper in Europe; Safa Two by de GRISOGONO, which boasts views of the iconic Dubai Canal; Canal Crown by de GRISOGONO; and Damac Lagoons, the UAE’s first pre-certified LEED Platinum community inspired by Mediterranean living. Continued Growth and Opportunity Upcoming developments include a condo in Miami designed by Zaha Hadid Architects and a luxury resort in the Maldives, in collaboration with Mandarin Oriental, set to redefine luxury hospitality. Read this also : Anantara and Arada Announce New Resort and Luxury Residences in Sharjah Anson Tay, Managing Partner at SRI, praised Dubai’s real estate market, emphasizing its allure for investors and residents from Singapore and across APAC. Michael Long, CEO of Senturion Real Estate, cited a 2023 TrendLens report from luxury consulting firm Agility, noting that over 20% of Chinese millionaires planned to visit the Middle East in 2024, with plans to invest in international real estate. Long highlighted Dubai and the UAE’s high yields, safety, stability, and quality opportunities with developers like Damac. As Damac Properties expands its operations in APAC, the company continues to deliver on its promise of luxury craftsmanship and exceptional real estate developments, solidifying its position as a leading developer in the region.

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