New Real Estate Projects: Dubai's Ambitions
The leading real estate companies in Dubai vary, having produced residential and service projects that excel in design, decoration, and construction. Residential properties within these projects vary in size to satisfy everyone's preferences and suit all needs. These artistic masterpieces are spread throughout the emirate of Dubai. Occupying a significant position in the list of real estate companies in the emirate is Amanat Company, which opened its doors in 2005 under the management and ownership of Mr. Mahdi Amjad. This company is known for many different real estate projects that have gained great fame, especially as it treats every design, development, and property management as an artistic work through close partnerships with top global architects, artists, and interior designers. Today, in this article, we will shed light on a set of new real estate projects by Amanat Dubai, the leading real estate company in property development in the emirate. Follow along to learn more.
The Impact of COVID-19 on the Real Estate Sector
Before discussing the new real estate projects of Dubai Dreams, it is worth noting the impact of COVID-19, which had a significant push on the demand for real estate. Mehdi Amjad said: "We have seen a very large migration of millionaires and billionaires from all over the world to Dubai, which has played a supportive role in the development of the real estate market and positively driven it, and we would like to believe that we have contributed significantly to attracting this wealth to the real estate market through our projects offered for sale."
Dubai Dreams' New Real Estate Projects
Based on the continuous demand for ultra-luxury real estate, Dubai-based Dreams Group plans to launch three new projects over the next twelve months, as well as embark on a regional expansion program over the next two years.
Mehdi Amjad, Chairman and CEO of Dreams, said, "Dreams seeks to introduce luxurious projects in the market during the first quarter of 2022," adding, "We are working hard to introduce three new projects to the market in 2022."
Dreams' portfolio includes The Opus, designed by the late Dame Zaha Hadid, another in Palm Jumeirah, and three of the emirate's most expensive penthouses, collectively sold for over 260 million UAE Dirhams (70.7 million US dollars).
Three New Projects in the First Quarter of 2022
In addition to Dubai Dreams' three new real estate projects, which have not been detailed yet, Amjad said the company has almost completed one thousand units planned and previously announced to Arabian Business.
He said, "Most of the 1000 units planned have been completed over eighteen months, including The Opus, Anwa, and One Palm. The Opus is located in Dubai's Commercial Bay, adjacent to The Opus project, while Anwa, a 44-story development, is located in Dubai Maritime City, and finally One Palm in Palm Jumeirah located at the beginning of the famous Palm Jumeirah in the emirate, which is one of Dreams' newest additions to its portfolio."
The One Thousand Residential Units to be Delivered in the Second Half of 2021
The second half of 2021 was eventful for Dreams as a super triple penthouse in the Dorchester Residences collection, located on the banks of the Dubai Canal, was sold for 75 million dirhams (20.4 million US dollars).
Amjad said, "Homes at Sterling [a residential project in downtown Dubai] will be delivered between the first and second quarters of 2022."
The Real Estate Market in 2022
We see continued positive price increases in 2022 and an improvement in the real estate market in Dubai with increasing demand from capital heads from all over the world to invest in the emirate of Dubai, which has always satisfied everyone's tastes and desires in terms of property locations, sizes, views, proximity to business districts, and many other factors.
We look forward to more of Dubai Dreams' new real estate projects, which must match the level of their predecessors - The Residences, The Palm, and The Opus, and to the great news about the Arab expansion of Dreams Real Estate.
For more information about these projects and others, follow us on Skyloft's blog, which covers everything new in the real estate market and other topics across the UAE.
