The Finance World Magazine| Edition: October 2023

Dubai Real Estate: Al
Barari Mansion Sells for
$11.4M
Maria Morris Real Estate, a
luxury real estate brokerage
in Dubai, has recently
announced the sale of a
prestigious villa within the city for a
substantial $11.4M (AED 42M). This
fully furnished villa, located in the
desirable Al Barari area, features six
bedrooms, seven bathrooms, and an
impressive 11,646 square feet of living
space built to the highest standards of
luxury. Developed by Farah Realty, a
prominent player in Dubai’s luxury
residential real estate market, this villa
is the first of Farah Realty’s projects to
be completed in the UAE. Maria Morris
Real Estate’s Private Client Advisor,
Evern van Niekerk, represented the
buyer, while the seller was represented
by Andrew Cummings from Knight
Frank Middle East. This transaction
further solidifies Maria Morris Real
Estate’s reputation as the go-to agency
for high-end property transactions in
the Al Barari community, with 46 successful
sales and rental transactions
completed in the area this year.
Dubai’s Business Bay Unveils Latest Project
Launch
GINCO Properties, a prominent
player in the UAE real estate
sector, has unveiled its latest
project, VYB At Business Bay,
with an enticing starting price of AED
1.2M. Each residence within VYB at
Business Bay blends aesthetics with
practicality, offering 1 and 2-bedroom
apartments. What sets VYB At Business
Bay apart is its strategically designed
payment plan, making homeownership
more accessible. With 40% payable
during the construction phase and
the remaining 60% upon handover,
GINCO Properties ensures a seamless
and financially feasible journey for
both investors and future residents.
Anticipated for handover in September
2025, VYB At Business Bay presents
an attractive opportunity for those
seeking affordable luxury in Dubai’s
prime location.
Dubai’s The First Group Unveils New Waterfront
Hotel
The First Group has proudly
announced the completion of
its latest waterfront project located
on the Canal Boardwalk
in Business Bay, Dubai. Anticipated to
open in Q4 2023, this marks the third
property for the esteemed hospitality
group within the city, complementing
their existing establishments in Business
Bay and Jumeirah Village Circle,
collectively catering to a remarkable
850,000 guests annually. The new
waterfront gem, named “The First
Collection Waterfront,” will feature an
impressive 327 rooms and suites, along
with amenities like a rooftop pool, spa,
state-of-the-art gym, diverse dining
experiences, and culinary establishments.
Guests will enjoy complimentary
transfers to Dubai Mall and Mall of the
Emirates, as well as exclusive access
to the Soluna Beach Club, ensuring a
truly exceptional stay.
Dubai’s DMCC Welcomes First Office Tenants to Uptown Tower
Dubai Multi Commodities
Centre (DMCC), a renowned
hub for commodities trade
and enterprise, has achieved
a significant milestone with the arrival
of its first commercial office tenants
at the Uptown Tower. This is a pivotal
moment for the growing business district,
positioned to attract substantial
foreign direct investment (FDI) into
Dubai. A total of 31 businesses will
occupy the Uptown Tower’s 22 floors,
offering 495,000 square feet of Grade
A commercial office space. Notable
tenants include global giants like Invisalign
and Wellbred, with others like
the Gemological Institute of America
(GIA) and Hikvision scheduled to
join in the third quarter of this year.
The tower has also welcomed various
retail and food and beverage outlets,
including allday and Jones the Grocer.
October 2023 www.thefinanceworld.com 59