Finance World Magazine| Edition: October 2024

Real Estate News
Dubai Real Estate: $545M City of Arabia Project Set to Launch
UAE-based developer One Development
is launching its flagship
AED 2B project, City of Arabia,
in Dubai. With offices in both Abu
Dhabi and Dubai, the boutique firm
aims to meet the growing demand
from international investors drawn to
the UAE’s resilient real estate market.
Chairman Ali Al Gebely emphasised
the company’s vision to become a significant
player in the sector, focusing
on customer-centric communities that
respond to evolving market needs. The
City of Arabia project, located along
Sheikh Mohamed bin Zayed Road, will
introduce the UAE’s first residential
community featuring advanced AI
integration. By leveraging innovative
prop-tech and striving for exceptional
livability, One Development aims to
create homes that embody clients’
aspirations and adhere to the highest
international standards.
Kasco Developments
Launches Three
Projects in UAE
Property Market
Dubai-based Kasco Developments,
a new initiative by the renowned
Kasco Group, has announced its
entry into the UAE property market
with three projects valued at over AED
1.2 B. Targeting the Business Bay and
Al Jaddaf areas, the company plans
to develop and sell 1 million sq ft of
residential space by 2025. With a strong
background in real estate since 2008,
the Kasco Group boasts a successful
portfolio, including Waves Tower and
Kasco Residence. Drawing on 30 years
of expertise in project execution and
financial management, Kasco Developments
aims to create innovative,
lifestyle-oriented residential spaces.
Chairman Mustafa Al Kaissi emphasised
the company’s commitment to enhancing
client well-being and delivering an
inspiring living experience in Dubai’s
competitive market.
Alphabeta Properties Unveils Q-East Project in
Al Quoz, Dubai
Alphabeta Properties has unveiled
Q-East, a transformative project
in Dubai’s Al Quoz area, aimed
at creating a modern community with
residential, commercial, and retail
spaces. The development will feature a
diverse range of living options, including
luxury penthouses with private pools,
alongside various commercial and retail
outlets. Twelve confirmed concepts will
be part of Q-East, including a fitness
centre, cinema, bistro, and Japanese
restaurant, as well as amenities like
a food hall, arcade, podcast studio,
HRE Development, a leading
player in the UAE real estate
sector, has launched SkyHills
2, committing AED 10B over the next
three years. This premium mixed-use
development in Jumeirah Village Circle
(JVC) aims to redefine community living,
featuring 509 luxury apartments and
17 retail outlets, with completion set
for Q2 2026. Units range from studios
to 3-bedroom duplexes, starting at
AED 680,000, appealing to investors
and event hall. Abdulla Al Shaibani,
the founder, emphasised that Q-East
is pivotal in Al Quoz’s transformation,
showcasing the company’s commitment
to innovation and quality while
enhancing Dubai’s urban landscape.
Notably, 17 penthouses with private
pools will soon be auctioned for rent.
HRE Development Introduces SkyHills 2 in
Jumeirah Village Circle
and homeowners seeking high-end
living in a strategic location. JVC
has witnessed over 10,828 property
transactions worth AED 12.8B in 2024,
establishing itself as a vital area in
Dubai’s real estate market. SkyHills 2
will offer fully furnished apartments
with extensive amenities, including
landscaped areas, fitness facilities,
sports courts, a swimming pool, and
children’s play areas.
40 www.thefinanceworld.com Oct 2024