$199 Million Ajman Real Estate Valuations in May 2024 | Kanebridge News
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$199 Million Ajman Real Estate Valuations in May 2024

Ajman’s real estate sector witnessed a significant rise in commercial property valuations.

Tue, Jun 18, 2024 2:37pmGrey Clock < 1 min

The Department of Land and Real Estate Regulation in Ajman announced that the department managed to complete 169 real estate valuation processes in May 2024, totaling over AED729.5 million ($199 million).

Ahmed Khalfan Al Shamsi, Director of Real Estate Registration, explained that the valuations covered commercial, residential, industrial, and agricultural properties, with commercial properties accounting for the largest share at AED437.2 million ($119 million), marking a 197 percent increase compared to April 2024. Industrial properties followed with a total value of AED148.45 million ($40.4 million).

Al Shamsi also noted that the May report included individual valuation transactions, valuations for courts and institutions, and valuations for long-term golden residency visas for investors, totaling 142 processes and exceeding AED334 million ($91 million) in value.

Overall, Ajman’s real estate valuations in May saw a 33% increase compared to the previous month.



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MS Homes Developers Launches ‘ILUKA Residences’ on Dubai Islands

ILUKA Residences is the first of many planned developments in the pipeline; aims to build over one million sq. ft. of residential projects in the UAE by 2027.

Fri, Jul 12, 2024 3 min

MS Homes Developers is making its debut in Dubai’s thriving real estate market with the launch of ILUKA Residences on Dubai Islands. This inaugural project is an eight-floor residential building situated on Marina Boulevard, offering a refined lifestyle in the heart of Dubai Islands. ILUKA Residences features 57 luxury apartments, including 1 to 4-bedroom units, with handover scheduled for the third quarter of 2026.

Since its founding in 1983 in Pakistan, MS Homes Developers has successfully delivered over 20,000 residential units and expanded into the United States, the United Kingdom, and the Middle East. Its recent entry into the UAE market with this project on Dubai Islands signifies a long-term commitment, with plans for developing over 1 million square feet by 2027.

“Dubai’s global fame for luxury seaside living has made it a primary destination for residents looking for luxurious homes that offer high quality features and amenities, and an unparalleled lifestyle by Dubai’s crystal waters,” said Mohsin Sheikhani, founder and CEO of MS Homes Developers. “MS Homes Developers wants to create a truly unique living experience at ILUKA Residences, inspired by the shape of the waves and blending seamlessly with the beauty of the Dubai Islands.”

Residents of ILUKA Residences will enjoy 15 exquisite amenities including luxurious private pools in all the apartments and a breathtaking infinity pool with the endless view of the horizon providing a sublime retreat for a truly elevated living experience. Amenities also include a fitness studio, sauna and steam room, yoga area, urban forest, a cinema, splash pads with stylish sun loungers, sky lounge, gaming facility, kids play area, an outdoor terrace and an open-air barbeque area for a delightful dining experience.

ILUKA Residences offer a serene escape from the hustle and bustle of the city while keeping everything residents need within reach. All apartments come with a fully equipped kitchen, exquisite finishing, spacious rooms and breathtaking views. The project seamlessly combines modern comfort with a touch of luxury, creating an ambiance that sets the tone for exceptional living.

Residents will benefit from the project’s strategic location, offering easy access to prominent destinations and to the city center, ensuring residents are always just moments away from the vibrant pulse of Dubai. Dubai Islands community offers a rejuvenating vacation destination for luxury escape, a thriving sports culture and a focus on making wellness a way of living in Dubai. Whether it’s the bustling Downtown district, prestigious business hubs, or serene waterfronts, ILUKA residents enjoy unparalleled accessibility to everything Dubai has to offer, embracing a lifestyle where convenience meets luxury.

With 4 decades of real estate, construction and development experience, Mr. Sheikhani and the management of MS Homes Developers have built a significant portfolio of properties with over US$ 1 billion in sales.  A visionary entrepreneur and industry veteran, Mr. Sheikhani also serves as the Chairman of the Association of Builders and Developers in Pakistan where he also collaborates with the Government of Pakistan to champion initiatives that support the construction industry and the property sector as a whole.

 

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