Developer DAMAC Properties has launched DAMAC Bay by Cavalli, a 42-storey, three-tower property that is located in Dubai Harbour.

In a statement, DAMAC said that the development has an aesthetic designed by the Cavalli brand and maintains a design scheme inspired by maritime life, with an interior that includes seashells, pearls, and zebrafish patterns.

While the towers’ exterior pays homage to ocean waves, they will be garnered with a Cavalli-inspired bridge that coils across the rooftops, the developer said. The property offers residents their choice from one-bedroom apartments to five-bedroom super-luxury duplexes across the development’s master plan.

Niall McLoughlin, Senior Vice President of DAMAC, applauded the launch, stating: “Our goal with DAMAC Bay was to bring the wonders of maritime bliss closer to residents than ever before. The property has been constructed in a way all residents can equally enjoy a luxurious, convenient lifestyle accented by the tranquillity of the sea.”

In mid November 2022, DAMAC Properties awarded a US $74.3mn contract for the main works of the Nice cluster at DAMAC Lagoons.

“With an innovative layout specifically designed by Cavalli, the property is assured to keep residents and guests entertained, refreshed and restored.”

The second to 32nd floors will feature luxury one-, two- and three-bedroom units allowing residents to enjoy the comfort of seafront living. The 33rd to 42nd floors will offer a range of unit sizes from three-bedroom to five-bedroom duplexes crafted with details to provide a wonderful seafront lifestyle. In addition, residents will have access to a private white sand beach, as well as a range of food and beverage outlets, and the property’s exclusive Cavalli Lounge. The three-tower property has been built to provide each unit with a beautiful seaside view, the developer explained.

The lobby serves as the property’s welcome point, detailed with high glass window. Further into the property, the towers’ podium level provides a maritime getaway in the form of an elegantly crafted water maze and snorkelling excursions. The podium is also fitted with hammocks suspended above the building’s ground-level infinity pool, offering convenient access to the Cavalli Lounge and its premier menu, the developer said.

Each of the three towers also features a rooftop infinity pool, along with floating workstations. The rooftop area is also fitted with a state-of-the-art opera pavilion that overlooks the Arabian Gulf.

In early December 2022, DAMAC launched Cavalli Couture at Safa Park in Dubai.

The crown-piece of DAMAC Bay is a water fountain located in the central tower. Synced to opera music, the enormous water fountain provides a water show to onlookers that can be enjoyed from within the towers’ vicinity or from miles away. Children residing in the development will have the opportunity to attend a Virtual Reality school with lessons laser-projected onto the property’s water fountain, the developer concluded.

In late December 2022, DAMAC launched a new high-end residential cluster.

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Nasma Luxury Stays said it is starting 2023 positively, on the back of the rising demand for short-term property rentals in the UAE.

Throughout 2022, Nasma grew its portfolio of luxe real estate across the country, ending the year with its successful expansion to Mina Al Arab in Ras Al-Khaimah (RAK), a milestone in its ongoing bid to strengthen its market foothold.

The portfolio-building is said to take place as more homeowners continue to ride the next wave of growth in the holiday home industry. Nasma noted that it will capitalise on this momentum to meet the demand arising from the influx of tourists to the UAE as a result of its reinvigorated tourism and hospitality sectors.

Dani Tabbara, COO of Al Tamimi Investments (parent of Nasma Luxury Stays) commented, “We are confident that we can exceed our performance in 2022, as we step up our efforts to expand our portfolio through mutually beneficial partnerships with property owners. Additionally, this is an opportunity for us to continue our tradition of offering global and local tourists all the luxuries associated with a five-star hotel within a comfortable, warm home environment. We are happy with our achievements in 2022, but we are even more excited this year given the consistent strong support from the UAE Government and its wise leadership.”

In late November 2022, RAK Properties said it broke ground at its Bay Residences development and, in late December 2022, Luxe Developers launched a luxury development in Ras Al Khaimah.

The holiday home market continues to be a major segment in the local property industry. A recent report showed more than 10,766 active listings in Dubai, which accounted for 2% of the total households in the emirate. The figure was the highest percentage compared to all other global hub cities. Additionally, Abu Dhabi and Dubai ranked third and fourth, respectively, in the top 10 best global places to buy a holiday home in 2021.

Nasma was founded to provide end-to-end property management solutions to luxury owners wanting to rent out their properties to vacationers for a short-term stay. To boost the value of their real estate and their profitability prospects, the company also offers other services such as interior design and property maintenance and damage repair.

Part of its unique value proposition is its attractive profit-sharing model, in which 80% of the profit goes to the property owner to ensure they enjoy better rental yields. This is on top of its 12-month revenue forecast report provided to the owners for a more effective business strategy and higher market value of the properties.

In late December 2022, Dubai Investments also broke ground on its $272m Danah Bay community project on Al Marjan Island in Ras Al Khaimah.

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The Dubai Land Department issued a total of 9,047 real estate permits and 6,479 real estate licenses in 2022, a growth of 46.6% and 53% respectively from 2021, according to statistics released by the department.

The high growth in permits and licenses are said to reflect the increasing demand from real estate investors across the world, driven by Dubai’s strong growth outlook and the prospects of high returns in the local market.

The growth also reflects the Dubai Land Department’s efforts to provide high-quality services, further enhance the competitiveness of the real estate market and ensure the protection of all stakeholders.

Maintaining its exponential growth trajectory, Dubai’s real estate sector witnessed transactions worth a record $143.8bn in the past year, a 76.5% increase from 2021, the department said.

In early January 2023, CBRE said that Dubai saw a record total of residential transactions in 2022 and, Zoom Property Insights revealed the top locations for apartment and villa sales in 2022 in Dubai.

The highest number of DLD permits in 2022 were issued for online ads with 7,947 permits, followed by classified ads (180), outdoor advertisements (164), vehicle advertisements (140), billboards (138), open-day announcements (95), text messages (84), real estate promotion platforms (75), printed advertisements (50), and project launch ceremonies (38).

Permits were also issued for real estate seminars, promotional campaigns, real estate exhibitions, advertisements and newspapers, among others.

The highest number of DLD licenses were issued to brokerages buying and selling real estate (2,308), followed by real estate leasing brokerages (1,570), transaction follow-up services (1,273), administrative supervision services for real estate (491), buying and selling land and real estate (299), real estate development (161), and commercial complexes (117), the DLD pointed out.

Other key categories in which licenses were issued included jointly-owned property management services, mortgage brokers and shopping centres, among others.

In late January 2023, Samana said it was going to invest $680mn into 12 new projects in 2023.

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Spurred on by its design activities as master civil engineer on the new Polish airport – Centralny Port Komunikacyjny (CPK) – Dar Al Handasah Consultants (Dar) has opened a new office in Warsaw, Poland.

The opening ceremony was attended by Dar’s Chairman and CEO Talal Shair, Regional Director of Operations Danny Aoun, in addition to key company directors and industry experts. It was also attended by Mikołaj Wild, the CEO of CPK airport and Piotr Kasprzyk, the Director of Aviation at CPK.

A representative from the Polish national airlines LOT and the Lebanese Ambassador to Poland Reina Charbel, also attended the opening, along with senior stakeholders, officials, and subconsultants in Poland’s aviation industry.

“Even as one of the world’s leading aviation design consultants and with our experience in airports around the globe, we were captivated by the sheer vision and ambition of the new airport. And that made it an even greater honour when our company was named the master civil engineer,” said Dar’s Chairman and CEO Talal Shair.

In late January 2023, RINA said it had secured a foothold in the US infrastructure market with its acquisition of Patrick Engineering and, later in the month, Espace Real Estate said it had expanded its operations with two new Dubai offices.

He added, “We are here today to fulfil all of our promises and more, by leveraging our technical excellence and consulting capabilities to help deliver a highly-sustainable, future-fit, and resilient airport that can bolster connections in Europe and position Poland as a continental hub.”

Through its design, planning, engineering, and project management services, Dar says it serves a variety of sectors including buildings and cities, transportation and civil infrastructure, water and the environment.

“We are settling in to establish a local team of experts who can tailor our company’s considerable expertise and global credentials to support projects in Poland and Europe, to deliver even more impact and value to communities across the country,” added Aoun.

He noted that Dar was also the founding member of Dar Group, a global design, engineering, and consulting group. He concluded, “In 2022, Dar Group ranked first among international design firms in the airports market, as well as 10^th among international design firms overall, third in buildings, and sixth in transportation”.

Later in January 2023, Yas Holding launched its property development arm, Taraf.

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Eshraq Investments has announced an update to its shareholders regarding its previously announced sale agreement with Danube Properties, for the sale of two plots in Jumeirah Village Circle (JVC) in Dubai.

Following the announcement of the deal on 6 October 2022, Eshraq has now said that in addition to the initial purchase price of $9.01mn, the sale and purchase agreement provided for an annual profit and an earn-out mechanism, payable to Eshraq tied to the projects’ profits.

Danube recently announced that its $150mn project, ‘Elitz’, on these plots has now been sold out and is expected to be handed over by December 2025. The project, which taps into growing demand for affordable housing in the UAE, was snapped up by investors, buyers and brokers on launch day.

In early July 2021, Eshraq said its Marina Rise project received its Building Completion Certificate and, in early September 2022, Danube appointed Naresco Contracting as the main contractor for Skyz Tower.

The successful launch of the project is said to de-risk Eshraq’s collections from this sale; and the transaction highlights the continued progress of the company’s land monetisation programme, as approved by its board of directors on 2 September 2022.

Jassim Alseddiqi, Chairman of Eshraq Investments congratulated Danube Properties on another successful project launch. He stated, “We remain committed to delivering exceptional value to Eshraq’s shareholders through reputed partnerships that support the efficient execution of our land monetisation programme. We remain confident that our actions will enhance Eshraq’s profitability and shareholder returns.”

Eshraq’s land monetisation programme is being implemented with the goal of fully monetising the company’s land bank over the next three years, through the sale or engagement of partners to develop the land bank and its subsequent sales.

In early November 2022, Eshraq said it sold Reportage Properties a 650,000sqft land plot on Al Reem Island.

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Deyaar Development has announced plans to handover the Mesk and Noor Residential Districts, representing Phase 3 and Phase 4 of its Midtown master development in Dubai. Together, they feature over 900 residential units with a mix of studios, one-, two- and three-bedroom apartments.

The Mesk District handover will begin on 14 February, ahead of its scheduled handover timeline, and move-in for residents will be permitted effective mid-February. The Noor District will be delivered as per schedule by the end of June, said a statement from Deyaar. More than 95% of the units in Noor District have been already sold out, it added.

With this, the Dubai developer will complete the handover of more than 2,200 units across the four districts of the Midtown development.

In early July 2021, Deyaar launched a $272mn 70-storey tower in Business Bay.

Deyaar had earlier completed and handed over Afnan District in 2019, followed by Dania District in 2020. Over 1,100 families are currently living in the Midtown Community, the developer stated.

Located in Dubai Production City near Sheikh Mohammed bin Zayed Road, Midtown is designed with community living in mind, creating a family-friendly environment replete with a wide range of amenities.

CEO Saeed Mohammed Al Qatami said, “The handover of the Mesk and Noor Residential Districts of our iconic Midtown master community is a major milestone, and we are thrilled to reinforce our commitment to deliver ahead of our scheduled timeline of handover for our projects to ensure a world-class service for our key stakeholders, investors and customers. Mortgage solutions with up to 25 years’ repayment plans are available for potential buyers in the Mesk District.”

In early January 2023, Azizi said it would deliver 11,000 units in Dubai in 2023.

An integrated, multicultural residential project, the Midtown Development consists of 24 buildings across various districts, coupled with a retail boulevard with a wide array of 50 retail options spread across an area of 63,000sqft.

The project features convenience stores, laundry outlets, pharmacies, supermarkets, multi-cuisine restaurants, cafés, leisure facilities, health clubs, sports courts, a one-kilometre jogging track, daycare facilities, and a 3,000sqft nursery.

In early January 2023, LIV Developers said it had begun construction of LIV LUX in Dubai Marina.

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Mott MacDonald has announced Rick Hopper as the Managing Director of its business in Saudi Arabia. As part of his role, Hopper will work with key public and private sector clients and partners to drive sustainable development in the Kingdom, building on the consultancy’s track record in the infrastructure, energy, transportation, and building markets.

Having worked in operational leadership and strategic business development roles at Atkins and AECOM, Hopper has a deep understanding of KSA’s vision for growth and development. He has spent the last six years based in Riyadh, the statement from Mott MacDonald explained.

Paul Hilton, Managing Director of Mott MacDonald Middle East business said, “We are delighted that Hopper is joining us at a critical time, as we relaunch our Saudi business as a standalone entity. His local market knowledge, strategic vision and strong leadership will be a major asset, as we seek opportunities to provide strategic support to key clients and help to accelerate economic, social and environmental development in KSA.”

As a Fellow of the Chartered Institute of Building, Hopper has more than 25 years’ experience in the leadership of design and construction supervision teams, with 15 of these years spent in the Middle East and the rest spent in the USA and UK.

In late February 2022, Mott MacDonald said that senior appointments will boost its regional business and, in early November 2022, Compass appointed a new Regional Director of Project Management.

In his new role, Hopper will lead Mott MacDonald’s Saudi business as it enters an important new phase in its development as a newly formed standalone entity, headquartered in Riyadh.

Drawing on Mott MacDonald’s leadership of prestigious infrastructure and development projects worldwide and deep sector expertise, he will be positioning the business to provide key Saudi clients with strategic advice and early-stage engineering consultancy, the statement added.

One of Hopper’s priorities will be to expand the group’s diverse and inclusive team in Saudi Arabia, adding value and sustainability to major projects and the nation by creating career development opportunities for Saudi nationals at all levels.

On the appointment, Hopper remarked, “I am excited to join Mott MacDonald, a company that shares my values and ambition to help support sustainable and inclusive growth in Saudi Arabia. I look forward to creating opportunities for Saudi nationals and international advisory and sector specialists to work side by side sharing knowledge and expertise and driving sustainable development in this fast-changing market.”

In early January 2023, KEO appointed Jason Morris as MD of its Project and Construction Management Division.

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Asset World Corp Public Company (AWC) has announced plans to invest US $30.6mn to renovate and add lifestyle places to The Empire, the group’s largest office tower, which is located in Bangkok. The group said that the launch of the ‘Co-Living Collective: Empower Future’ at The Empire would turn the tower into a revolutionary new lifestyle space that embraces the future of work-life integration, and strengthening Thailand as a world-class destination for the global workforce.

The Co-Living Collective: Empower Future concept is said to be the first – and largest – of its kind to offer co-living space to tenants. It aims to create a ‘wholly integrated collaborative model of co-living workspace that empowers people to achieve the next level of success in life – both professionally and personally.’

“The Empire is set to redefine modern workplaces and serve as a world-class lifestyle workplace destination with 1,500sqm of co-living space, bringing home-like experience and large facilities to the workplace such as a living room, a communal open kitchen and dining area, and a kids’ room and pets’ hotel,” the statement said.

Moreover, it will offer EA Rooftop, which is set to be a world-class rooftop and F&B haven with a variety of international gastronomic offerings, embracing with the hotelisation experience offering through AWC Infinite Lifestyle (AWI), while creating sustainable values for all stakeholders. The project is set to be fully launched in 2023, the conglomerate said.

In late November 2022, Albal Design unveiled the “UAE’s first science-based” interior design concept.

“Today, new generations of working people are increasingly seeking personal value and purpose at work, while striking a balance between work and lifestyle. The roles of physical workplaces have therefore become more multi-faceted to facilitate connection, collaboration and innovation as well as to promote positive employee experiences and retain talents,” said Wallapa Traisorat, Chief Executive Officer and President, Asset World Corp Public Company Limited or AWC.

“As AWC’s flagship lifestyle office complex that continues to evolve, ‘The Empire’, currently valued at $613mn, is launching series of exciting new benchmark with the aim of creating an integrated collaborative model of ‘Co-living Collective: Empower Future’ to help people achieve work-life integration,” Wallapa said.

The Co-Living Collective: Empower Future concept at The Empire is envisioned as being a productive and collaborative space for working people to collaborate with colleagues and make the best of their creativity and increase their efficiency. It also aims to cultivate a diverse community of like-minded people to come together for meaningful and valuable interactions.

Central to the co-living concept is The Residence at Empire Co-living. This is a combination of uniquely designed workspaces on the 53rd floor that is offered as a complimentary service for all tenants, aiming at making employees feel at home in a relaxing atmosphere with features such as a living room, a recreational zone, a breakout area for video games and sports tables like pool and table tennis, a communal open kitchen and dining area, a kids’ room and pets’ hotel, and a nursing lounge for moms and their babies.

In late January 2023, Modon Properties opened a new fish market in Abu Dhabi’s Mina Zayed district.

The design will also include shared communal spaces for individual work, group discussions and meetings as well as a body-mind zone with a nap lounge for a fresh restart, showers and changing rooms. Other features include a swing floor option, fully or partly furnished workspaces with materials and equipment tailored to tenants’ needs, such as flexible partitions, modular furniture, ergonomic furniture, as well as design and decorating advice services for convenience during construction.

With a total area of 1,500sqm spanning across the 53rd floor, the co-living space of The Empire aims to create a new benchmark for the commercial real estate industry in Thailand. The Empire is also unveiling ‘EA Rooftop’, which will be launched later this year. This will be Thailand’s latest and largest landmark rooftop destination, a fully integrated F&B lifestyle destination spanning over 8,460sqm, bringing together the world’s most renowned culinary experiences in one place.

With the design concept under ‘EA’ (eh-ah), The Empire Rooftop derives its name from the meaning of “freedom, air, celebration”. Located on 55th to 58th floors of The Empire, EA Rooftop will be an ultimate dining destination, leading by Nobu and many more restaurants, where visitors can enjoy a great variety of gastronomic experiences that cannot be found elsewhere.

AWC also continues to offer hotelisation to all tenants through the AWC Infinite Lifestyle (AWI) application, which connect tenants to the entire network of AWC affiliated hotels where they can enjoy hotel facilities and the “Office-Home-Hotel-Retail” concept that aligns with the New Normal lifestyle where people can work from anywhere.

Also in late January 2023, Yas Holding launches property development arm, Taraf.

As Bangkok’s most prominent building, The Empire continues to create sustainable values and is on track to achieve LEED Certification, the standard for sustainable green buildings, and WELL standard to promote the health and wellness of occupants and visitors.

“The Empire strives to become an empowering corporate address, with uniquely curated lifestyle spaces where business and recreation become one by blending Bangkok’s dynamism with a wide range of unparalleled service offerings,”

“AWC is committed in building a better future, we believe the Empire will play a key role in driving Thailand as a global destination for international work force. Once the launch is fully completed, the new Empire will become an ideal urban destination that fosters new professional and social circles of like-minded and trend-leading yet socially responsible people and businesses. We will build a better future together with The Empire Co-Living Collective, empower future.” Wallapa concluded.

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The world’s first 3D-printed mosque will be developed over the next two years in Bur Dubai, according to Dubai’s Islamic Affairs and Charitable Activities Department (IACAD). Once complete in 2025, the 2,000sqm facility will house 600 worshipers.

According to a statement from the IACAD, it will take approximately four months to complete the 3D printing of the building’s structure, followed by another 12 months to fully fit out the building with the appropriate facilities.

IACAD Director General Dr. Hamad bin Sheikh Ahmed Al Shaibani said the technology would make the project more sustainable. He explained, “Using 3D printing will reduce construction material waste; it is friendly to the environment. The mosque represents the vision of our wise leadership.”

In late October 2022, the SCIB announced the completion of the first 3D printed house in Borneo and, in early November 2022, Dar Al Arkan completed Saudi Arabia’s first 3DCP villa.

He added that three operators will control the 3D robotic printer, which will print two sqm per hour. He also pointed out that a combination of raw materials and carefully prepared concrete will be used to develop the mosque.

According to Al Shaibani, the cost of building the mosque will be 30% more than usual, as it is the first of its kind in the world.

He concluded, “We expect the cost will be similar in the future with a 30 year building guarantee.”

In late November 2022, GUtech 3D said it printed three structures in eight days in Oman.

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A collaboration agreement has been signed by Saudi Arabia’s Public Investment Fund (PIF) and Engineering & Construction Group. The latter is a key unit of engineering company Samsung C&T Corporation. The deal will see the firms adopt and develop innovative technologies that support Saudi’s real estate and construction projects.

As part of the deal, Samsung C&T Corp will build modular homes in the Kingdom in a joint investment with PIF. These residential units will either be deployed in Neom or in Riyadh, according to a report by The Korea Economic Daily, which cited a senior Korean minister.

The deal was signed by South Korea’s Minister of Land, Infrastructure and Transport Won Hee-ryong at a meeting hosted by PIF Governor Yasir Othman Al Rumayyan in Saudi Arabia.

In early January 2023, PIF and Ma’aden signed a JV to establish new entity to invest in global mining assets and later in the month, it was announced that Saudi’s new Event Investment Fund (EIF) would develop 35 venues by 2030.

“South Korean companies are expanding cooperation with the PIF for various sectors such as green hydrogen production, the Qiddiya project, as well as housing complex and urban development plans. We hope South Korean companies with abundant information and communication technology and urban development experience can contribute to realising Saudi Vision 2030 by participation in the Red Sea and Qiddiya projects,” explained Won.

Later, at a real estate forum organised by the Ministry of Municipal and Rural Affairs and Housing, the minister gave a keynote presentation focused on cooperation between the two countries on smart cities.

Won also signed a separate deal with the ministry on a smart city cooperation execution programme, which included a plan to hold working-level meetings in Seoul and Riyadh twice a year. As part of his Middle East visit, Won also made stops in Qatar and Iraq with the goal of enabling South Korean companies to win deals in the Middle East.

In late January 2023, RSG awarded a US $266mn contract to AL-AYUNI for first phase of development at Amaala.

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