Parisian Hôtel Particulier Revamped Into Dream Home
Alexandre de Betak and his wife are focusing on their most personal project yet.
13 min
Alexandre de Betak, the 52-year-old designer behind some of the most viral fashion shows of the past 25 years, has staged runway spectacles in audacious locales. Through his Bureau Betak creative agency, he’s conceptualised shows from Dior runways in Moscow’s Red Square and under an 18-metre mountain of blue delphiniums custom built in the courtyard of the Louvre to a blue diamond catwalk inserted for Tiffany into Beijing’s Forbidden City.
After a day at the office conjuring another rapidly vanishing show for a client, de Betak wants nothing more than to design space for his family’s personal use. “I’ve spent my life designing for others,” he says, “so in a way designing for us and designing permanent homes is incredibly relaxing, just by the nature of being the same yet the opposite of what I do every day.”
By the time he finished his last home design project in 2016, a playful loft in downtown New York with a stripper pole in a hidden party room, he was already at work on a new place to live, a fixer-upper across the Atlantic on the Left Bank of the Seine.
Four years ago, he began to shift his centre
\of gravity to Paris, returning to the city he grew up in after more than two decades based primarily in New York. (Bureau Betak has offices in both cities, along with Shanghai and Los Angeles.) Alex arrived with his partner in life, his pregnant wife, Sofía, the 36-year-old Argentine creative director, graphic designer and boho-chic style influencer known to her friends and 350,000-plus Instagram followers as Chufy (a childhood nickname). They spent their first 18 months in the city glamping indoors, squatting, essentially, in the beautiful ruin that would become their new home, former offices stripped to the bone—four separate units on three floors of a 17th-century hôtel particulier. “We were sleeping with six hot-water bottles,” says Sofía. “We would get pieces of ceiling just falling on us, holes in the wall.” Adds Alex: “We were cooking in the fireplace, heating by the fireplace. It was very, very fun.”
While inhabiting the space, Alex mapped out plans for what it might soon become, imagining the sculptural staircase, in white gesso, that would wind down through three floors, the secret party room—all of his homes have one—he’d excavate in the basement. “I have to say it was great to design it from the inside,” he says. After Airbnb-hopping during the two years of construction, early last year, Alex, Sofía and their toddler daughter, Sakura, finally moved into the finished space.
Though Alex and Sofía were on the road constantly pre-pandemic, individually and as a unit, they filled their free time—there was rarely much of it—travelling for pleasure, too. Sofía grew up travelling—her mother ran a high-end travel agency in Buenos Aires. The couple named Sakura for the cherry blossoms that were blooming on a trip to Kyoto when they found out they were expecting a girl.
They were just back from a family vacation in Myanmar, and recently moved into their new home, when the first pandemic lockdowns started in autumn of last year. Alex was bedridden in those first uncertain weeks. He thinks it was Covid-19, though reliable tests were hard to come by back then. “I mean, we were lucky—we were in luxury confinement,” says Sofía, “but most people had it really, really tough.”
After spring Fashion Week in Paris wrapped on March 4, Bureau Betak saw its planned roster of shows heading into the summer vanish overnight. “Everything got cancelled,” says Alex.
Sofía launched Chufy, her eponymous line of travel-themed women’s clothing, in 2017, each collection inspired by a new destination, from the Pampas of Argentina to the savannas of Kenya. At the start of the pandemic, her business also came to a halt as the factory in India producing her flouncy blouses and flowy dresses shuttered.
Feeling restless stuck at home, she organized a charity auction online for Doctors Without Borders in April of last year, enlisting her friends to donate objects, expertise and experiences: a private polo class from Nacho Figueras, an online consulting session with Colette founder Sarah Andelman, a signed tennis racket from Maria Sharapova. Getting the auction going “kind of helped me get out of the darker cloud,” she says.
Alex is often dubbed the Fellini of fashion. In a good year, when his business hasn’t been crippled by a global pandemic, Bureau Betak might stage as many as 100 productions, working with young designers and veterans, avant-garde and legacy brands, on blowout presentations and smaller, more cerebral shows. “He’s always thinking about how to make it feel special; it doesn’t always mean it has to be the biggest and the brashest…not just the big extravaganza, although he is great at doing that; you could also have an intimate show,” says Michael Kors, one of Alex’s earliest clients, going back to the mid-’90s when he first set up shop in New York.
In spring of last year, as his health and the weather in Paris both improved, Alex got back to work from a laptop by a window with a view of the Seine. He began to devise a path forward for clients eager to start showing again. “After a couple of months you realize it’s going to be there for a while,” Alex says of the pandemic. “That’s when we started to really rethink the calendars and the format and everything.”
He had plenty of tools in his arsenal ready to go, having launched a creative agency, Bureau Future, a few years earlier, focused on the digital future of the live fashion show. “I believed for a long time that in order to give those great, live, in-person shows a reason to continue to exist, we needed to augment them digitally better, to film them better, to design them with the filming in mind and to transmit that better when we stream them,” he says. “And then, obviously, with Covid we accelerated the process quite drastically.”
Though many designers decided not to show at all last year, a few signed on for virtual shows, filmed with no audience. In July, French label Jacquemus, taking advantage of a moment of relaxed restrictions, opted to invite spectators to its live show outside Paris, shuttling 110 socially distanced VIPs to the winding catwalk Bureau Betak cut through a wheat field. “We bet together that we could do a show with a live audience,” says Alex. “We were very lucky. We caught a very small window.”
Filmed or live-streamed shows with no editors or influencers in attendance followed for Dior in Puglia, for Fendi in Milan and for Gabriela Hearst in the Brooklyn Navy Yard. As France began to open back up last summer, Sofía also got her business going again. From her home office in the apartment’s sun-drenched winter garden, with ivy climbing up lattice walls, she began sketching ideas for a new Chufy collection, inspired by her paternal grandparents’ Romanian heritage. “I just wanted to go through memories, old things from my grandparents; I travelled introspectively,” she says.
Evenings were spent at home, the family gathered around a custom-built kitchen island, Alex at the stove working through his rotation of pastas (“variations of vongole, bottarga and pesto,” as Sofía describes them). His two sons, Amaël, 20, and Aidyn, 17, from an earlier relationship with actress and model Audrey Marnay, would drop in from their mom’s place for a week at a time. At lunch there were picnics outside in the courtyard garden, chatting, socially distanced, with new neighbours in the hôtel particulier.
There were plenty of reminders, throughout the apartment, of Alex and Sofía’s old travelling life, mismatched accents—a pair of Moroccan candelabras here, a black lacquered Burmese pot there—brought home in suitcases or picked up online in hotel rooms in bleary-eyed bidding sprees.
“I can be in Shanghai or Tokyo and I’m jet-lagged and I’m online at an auction that’s in Italy or Eastern Europe and I’ll buy a piece from Japan,” says Alex. “I kind of see no boundaries.”
The building’s last tenants, offices of the museum of the Paris hospital system, stripped it of its historic character. As he planned his gut renovation, Alex imagined the space as it might have been when aristocrats lived there. He laid down new flooring to bring the place back in time, installing black-and-white pierre de Bourgogne stone on the ground floor, wooden parquet de Versailles upstairs above that. A golden hall of mirrors en route to his daughter’s bedroom brought a more theatrical 17th-century touch.
He filled the place with an eclectic mix of contemporary furniture and flea market antiques, pieces of Mario Bellini’s modular Camaleonda sofa across from a leopard-print chair from the 1940s. The seats in the living room, including his favourite Minotaure armchair from Pierre Augustin Rose by the window, were all reupholstered in the same rough-textured white fabric. Next to the master bedroom, antique panels on a Japanese theme, picked up at the Paul Bert Serpette market on the edge of Paris, became the closet doors inside a new dressing room. Much of the contents—mostly in monochrome black and white—were acquired with the new place in mind, after Alex auctioned off almost everything from his last Paris apartment back in 2018: 188 lots of kinetic art, toy robots and Star Wars memorabilia, among other collecting obsessions. “It was a brand-new time in our life,” he says. “I wanted to start from scratch.”
Though there’s some gravitas to the new space—“I wanted to do something very feminine and very romantic in a way and a lot softer than what I used to have,” says Alex—there’s still plenty of his signature whimsy throughout.
The basement nightclub space, hidden behind a mirror, features a night-sky mural inspired by 17th-century star maps with each family member’s zodiac constellation. (They’ve been watching movies there during the pandemic.) Upstairs, an archangel painting in the master bedroom opens into a projection TV screen. A bookcase in the library opens to reveal a secret passage down to the street. “We always have secret doors and secret escapes in every place we design,” he says. “Don’t ask me why.”
Alex lined the walls in his daughter’s bedroom in a classic Japanese motif, a collage of his own creation featuring bamboo, cherry blossom trees and kimono-clad figures that, upon close inspection, turn out to be miniature versions of her parents, grandparents, aunts, uncles and siblings. The French fabric firm Pierre Frey has added the design to their 2022 wallpaper collection, launching in January.
By midsummer of last year, the de Betaks had traded the city for their vacation home by the sea, a villa on Mallorca, which was built and completed by Alex in 2010. And they spent a few weeks of their summer holiday visiting friends on the island of Panarea, north of Sicily. Over an alfresco meal there, Sofía came up with an idea for another Chufy collection, a collaboration with André Saraiva, the graffiti artist known as Mr. A, who sat beside her sketching doodles inspired by their time together in the Aeolian Islands. “I [drew] a little volcano, a pasta—Alex is the king of the pasta with bottarga, so I did a pasta with bottarga—did all those little things we enjoyed during our summer,” says Saraiva, who was one of three best men at Alex and Sofía’s weeklong wedding in Patagonia in 2014. This summer Chufy debuts a capsule collection of caftan dresses featuring those Mr. A sketches on Sofía’s Italian island–inspired prints.
Saraiva, one of Alex’s oldest friends, says he has been to every home he’s designed. “I’m an expert on Betak design,” he says. “[Alex] has got a great sense of décor and space that designers have, but he has something that I really appreciate…there are always details that come from playing around, not everything is serious. He’s a big fan of Star Wars. There’s always little details that remind me of the Star Wars saga—in the new place, the blacks, the whites, the round stairs.”
Alex, who has no formal design training, was just 17 and still finishing high school when he fell into fashion in 1986. That year, on a family trip to Spain, he met a young clothing designer named Sybilla Sorondo who’d been building a cult following from her atelier in Madrid. Taken by her edgy work and the freewheeling scene around her, and by the creative spirit of La Movida that gripped Madrid in the post-Franco years, he found himself drawn to the city and into Sorondo’s orbit.
“At that time my workshop was a place where people would hang out; there was lots of movement,” recalls Sorondo. “All of a sudden [Alex] was the kid who was always there—‘Oh, he’s still here.’ ”
Eventually, Alex got a few fashion editors in Paris to take a look at Sorondo’s pleated frocks. “And that’s how my international expansion started,” she says. He became her official press agent and art director while still studying for his baccalaureate exam. They travelled to Tokyo and Milan together. And after graduation he launched Bureau Betak, still ill-defined as an enterprise, out of a home office, with Sorondo’s eponymous line, Sybilla, as its first official client. He added a Japanese modelling agency, L’Homme et La Femme, to his roster, scouting talent for them in Paris and also hunting for classic cars for the agency’s owner. “There was no name to a lot of what I was doing back then,” he says. The big bash Alex organized for the launch of Sorondo’s Paris boutique in 1991, featuring jugglers, acrobats and a live orchestra along with models showcasing the clothes, set the stage for his future fashion show work.
Shortly afterward Sorondo took a long break from the fashion world to focus on raising a family. Alex decided to move to New York.
With his first clients there, he started to challenge the status quo. In an early show under the tents at Bryant Park he suspended designer John Bartlett in a hammock above the catwalk, instead of dangling the brand logo as everyone else did. “Many creative decisions came to me spontaneously like that,” says Alex.
Very quickly he began to organize shows in offbeat locales, ramping up the spectacle in the process. His first collaboration with Kors, staged in a cavernous loft space in SoHo, featured a travel theme. “We had a train that took models through the Swiss Alps, we had a helicopter landing,” recalls Kors. “It was a really interesting way to present it, to get the feeling behind the collection, rather than doing the traditional fashion show.”
“I mean, nothing is impossible,” says Laura Mulleavy of Rodarte, who staged her first show with Bureau Betak just as her and her sister Kate’s label took off in 2007, of de Betak’s approach. “You can have an idea and then you translate it into a live theatrical experience.”
Many of Alex’s working relationships with designers have endured for decades, following the careers of John Galliano, Raf Simons and Kors, among others. In April Kors unveiled his 40th-anniversary show online, a filmed tribute to Broadway, directed by Alex, in New York’s theatre district. “I try to always have very long and deep relationships,” he says.
In the late ’90s, as Alex’s career was taking off in New York, in Buenos Aires his future wife, Sofía Sanchez Barrenechea, was getting an early start in the fashion world. In 1999, when she was 14 years old, Sofía was approached by a modelling scout while in church for her confirmation. Cast in a national campaign for John L. Cook, a big Argentine clothing brand, she was soon on billboards and shopping bags across the country.
“My picture was everywhere,” she says. “It was quite a shock—I mean, an ego boost but also very hard to handle.”
Sofía went on to study graphic design at the University of Palermo in Buenos Aires before moving to New York on an IMG Models visa in 2008. In between the occasional shoot, she pursued a career in design, working with beauty clients at branding agency Lloyd & Co. Sofía was back in Buenos Aires for the winter holidays in 2009 when Alex showed up at her family home—invited by her older sister, Lucia, a fashion journalist he knew from Paris. Though Alex’s estranged father, whom he didn’t grow up with, is from Argentina, this was his first time in the country.
“He spent Christmas with my family even before we started dating,” says Sofía. “I think first he liked the family and there was only one sister single, and it was lucky me.” They began seeing each other back in New York and were married five years later, surrounded by fashion royalty, the bride in Valentino couture, custom-embroidered in crystal and pearls.
This past March, as Paris prepared to go on lockdown again, Alex got his first AstraZeneca shot. Despite the slow vaccine rollout and surging virus cases in Europe, tentative plans were underway for bringing live audiences back to runway shows.
“Until the last minute everything I’m designing and everything I’m thinking of now has a plan B, with no audience, of course,” he says.
Even when the world finally opens back up, Alex would prefer that fashion didn’t fully return to its pre-pandemic ways. Early last year, just weeks before international borders began closing, Bureau Betak announced a new sustainability pledge, “Ten Commandments” intended to transform the business from the inside, vowing to reuse materials, sort and recycle, reduce nonessential flying and minimize fossil-fuel use.
“I’ve dedicated most of my life to ephemeral events that spend a lot of energy, a lot of carbon and a lot of money for a very short time and for, I hate to say, a useless topic, which is helping luxury brands sell more product,” says Alex. “So, considering all of this, it’s been forever that I’ve wanted to try to use what I can, which is basically the influence we have over our clients and their brands…to create a strong sustainability program within Bureau Betak and use it as a platform.”
And after a year mostly confined to his new Paris apartment, Alex is already thinking about his family’s next permanent home-design project—maybe a country house outside the city or a vacation spot in Patagonia. “I already have a design in mind for Patagonia,” he says.
Reprinted by permission of WSJ. Magazine. Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: May 29, 2021
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Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Running from September 19th to 29th, the campaign will feature exclusive offers.
2 min
Al Areen Holding Company, a subsidiary of GFH Financial Group and the developer behind the Al Areen masterplan, has launched a ten-day promotional campaign to showcase its innovative Tilal Residential Project, an upcoming contemporary destination offering a luxurious lifestyle with stunning views of nature and the Al Areen Wildlife Reserve.
Running from September 19th to 29th, the campaign will feature exclusive offers on residential units within the expansive Tilal Residential Project, which covers over 93,000 square meters. The project includes a variety of luxurious villas and townhouses, characterized by modern design, spacious layouts, and options ranging from 3 to 5 bedrooms. Most townhouses offer 3 bedrooms, with designs reflecting contemporary trends. Each unit is crafted with high-quality finishes, paying close attention to modern lifestyle needs and environmental sustainability.
Throughout the campaign, Al Areen Holding Company will provide detailed information on the project’s facilities and services, including shared parks, walkways, and playgrounds, all designed to foster a high-quality, upscale community atmosphere. Additionally, interested buyers will have access to flexible financing options through Khaleeji Bank, tailored to meet their needs.
In this context, Mr. Ahmed Khalfan, Chief Marketing and Sales Officer of Al Areen Holding and CEO of Tilal Residential Project, commented: “We are excited to launch this promotional campaign for Tilal Residential Project, which represents a valuable addition to the real estate market in Bahrain. We believe that this project will be a destination for anyone seeking an integrated and distinctive lifestyle in a scenic natural environment. During this occasion, we will have the opportunity to highlight the singular features embraced by the project.”
He added: “We invite everyone to visit our platform at City Centre Bahrain during the campaign period and benefit from the exclusive offers available, as Tilal Residential Project represents a unique opportunity to own and invest in the heart of nature.”
It is noteworthy that Tilal Residential Project is located in the Al Areen masterplan, within a new city that includes commercial offices, retail units, restaurants, hotels, health and educational facilities, and a range of residential communities. The project is distinguished by its proximity to Al Areen Wildlife Reserve in the southern region of the Kingdom of Bahrain, as well as the Bahrain International Circuit and Al Dana Amphitheater. The masterplan also includes Raffles Al Areen Palace Bahrain and the Lost Paradise of Dilmun Waterpark.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Designed by world-renowned architecture firm Antonio Citterio Patricia Viel, Bvlgari Lighthouse is set to become one of the city’s most prestigious addresses.
2 min
Meraas, part of Dubai Holding Real Estate, has awarded an AED 850 million contract to Dutco Construction Co LLC for the construction of the Bvlgari Lighthouse on Jumeira Bay Island. With marine works on this section of the island now complete, construction will soon begin on the 27-storey luxury residential tower. Designed by the world-renowned architecture firm Antonio Citterio Patricia Viel, the Bvlgari Lighthouse is poised to become one of the city’s most prestigious landmarks.
Inspired by the elegance and luxury of the renowned Italian jeweler, the tower will feature four and five-bedroom penthouses, along with an extraordinary eight-bedroom Sky Villa. This exclusive villa will occupy the top three floors and boast expansive private rooftop gardens, outdoor living spaces, a private pool, and sophisticated lounge areas on both sides of the building.
Scheduled for completion by Q2 2027, the Bvlgari Lighthouse is Bvlgari’s third project in collaboration with Meraas.
Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said: “Meraas remains steadfast in its commitment to creating and delivering some of Dubai’s most distinctive and luxurious residential offerings, and the Bvlgari Lighthouse will soon become a part of this exceptional portfolio. Our partnership with Dutco Construction marks a significant milestone as we advance towards realizing this landmark project. Reflecting Bvlgari’s values of unrivalled craftsmanship and timeless elegance, our most exclusive new address is set to elevate the standard for luxury beachfront living at Jumeira Bay Island and maintain Dubai as a destination of choice.”
Offering uninterrupted views of the Arabian Gulf and the city’s skyline, the Bvlgari Lighthouse features a façade inspired by the gentle movement of marine coral, which not only creates timeless light patterns, but also offers privacy and tranquility by refining both light and air.
As part of the Bvlgari experience, residents will enjoy unlimited access to the exclusive facilities of the neighboring Bvlgari Resort Dubai, complemented by the unmatched Bvlgari service standards. This includes the world’s first Bvlgari Marina and Yacht Club, state-of-the-art swimming pools, landscaped gardens, private parking spaces, dedicated storage facilities and a host of dining options on-site.
Shaped like a seahorse, Jumeira Bay Island by Meraas is not only home to Bvlgari Resort Dubai, but also serves as a refined and exclusive destination for both residents and visitors to enjoy. The island boasts private beaches, fine dining options and peaceful boulevards that lead to some of the world’s most sought-after residences.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Interior designer Thomas Hamel on where it goes wrong in so many homes.
Bahrain Marina is designed to provide an integrated and luxurious living experience.
2 min
Bahrain Marina Development Company, the developer behind the prestigious Bahrain Marina project in the heart of Manama, has announced a major milestone with 25% of Phase I already completed.
As one of the most well-known real estate and tourism ventures in the kingdom, Bahrain Marina is designed to deliver an integrated, luxurious lifestyle experience, blending high-end residential, retail, entertainment, and hospitality elements.
The project will feature an array of luxury residential units, including beautifully crafted apartments offering stunning Gulf views, along with five-star hotels that provide premium hospitality services.
A state-of-the-art yacht marina, offering world-class facilities for marine enthusiasts, will also be a highlight of the development, according to the developer.
Beyond luxury residences and hospitality, Bahrain Marina will feature a high-end shopping mall with a diverse selection of international and local brands. The development will also include a variety of restaurants and cafes catering to different culinary preferences, family-friendly recreational areas, green spaces, pristine beaches, and modern sports facilities, including swimming pools.
On the key achievement, chairman Khalid Najibi said: “We are extremely proud of the tremendous progress achieved over the past year. Reaching 25% completion is a remarkable accomplishment that underscores our commitment to delivering a world-class project.”
“Achieving this while maintaining a strong safety record demonstrates the dedication and diligence of our entire team. This achievement strengthens our confidence in completing Bahrain Marina on time and to the highest quality standards,” he stated.
Najibi said Bahrain Marina was not just a real estate development company, but it represented the company’s vision to create something exceptional for Bahrain and the region.
“We are determined to deliver a project that sets new benchmarks for luxury and quality, enhancing Bahrain’s reputation as a premier investment and tourism destination. As we move forward, we remain committed to contributing to the Kingdom’s economic vision and setting the bar for future developments,” he added.
According to him, Bahrain Marina symbolizes the power of ambition, experience, and vision.
“We are driven to create a project that redefines luxury living and entertainment in Bahrain, making Bahrain Marina a flagship destination. Each milestone increases our determination to exceed expectations, and we look forward to celebrating its completion with the community,” he added.
On the key milestone, Managing Director and CEO Yousef Al Thawadi said: “Achieving 25% completion within the first year is a testament to the efficiency and commitment of our dedicated team.”
“We are moving steadily towards our vision of delivering a project that elevates the standards of quality and luxury in Bahrain, and we will continue to build on this momentum in the upcoming stages,” he added.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Following the devastation of recent flooding, experts are urging government intervention to drive the cessation of building in areas at risk.
This AED 350 million project not only represents the pinnacle of HMB Homes’ portfolio but also stands as one of the most coveted addresses in Dubai
3 min
Drawing inspiration from the timeless allure of Parisian art and the captivating romance of Paris, HMB Homes Real Estate Development unveils its top project, One Beverly, set to transform luxury living in Dubai. This AED 350 million development is the crown jewel of HMB Homes’ portfolio, offering one of the most prestigious addresses in the city, and promising an extraordinary and inspiring lifestyle.
HMB Homes Real Estate Development, known for its innovation and excellence in the UAE’s real estate sector, continues to raise the bar in luxury living. With a history of pushing the boundaries of residential development, the company is committed to creating iconic and highly sought-after destinations that redefine the standard of living in Dubai. The launch of One Beverly marks a significant milestone in this journey, showcasing HMB Homes’ dedication to delivering not just homes, but truly remarkable living experiences.
Located in the heart of Arjan, one of Dubai’s most distinguished residential communities, One Beverly benefits from a prime location that offers both serenity and convenience. Arjan is known for its modern comforts, close-knit neighborhood feel, and proximity to some of Dubai’s most prominent landmarks. Situated just minutes away from Dubai Miracle Garden and Dubai Butterfly Garden, Arjan effortlessly combines contemporary luxuries with a vibrant community spirit. Its strategic location provides residents with quick access to Dubai’s major highways, including Sheikh Mohammed Bin Zayed Road, making it easy to reach key areas such as Dubai Marina, Mall of the Emirates, and Dubai International Airport.
As the flagship project of HMB Homes, One Beverly stands out with its meticulously designed residences, offering 381 exquisite apartments which include studio, one-bedroom, and two-bedroom units with apartment prices starting from 6,50,000 AED & 8 commercial shops. Each home is crafted with an attention to detail that reflects the timeless elegance of Parisian Art, complemented by the dynamic spirit of Dubai. These residences are not merely living spaces but are designed as sanctuaries where every element from the opulent finishes to the cutting-edge technology has been thoughtfully curated to provide an unparalleled living experience.
“Our vision for One Beverly was to create a space that not only reflects the elegance of Paris but also embodies the dynamic spirit of Dubai,” said the CEO of HMB Homes Real Estate Development. “This project is a celebration of art, design, and the extraordinary lifestyle that Dubai offers. One Beverly stands as a beacon of unrivalled luxury, opulence, and glamor—a masterpiece that not only redefines grandeur but embodies it with every detail.”
One Beverly also sets itself apart with an array of 30+ world-class amenities designed to enhance the everyday lives of its residents. Among these are a state-of-the-art gym that caters to all fitness levels, an infinity swimming pool offering stunning panoramic views, and a beautifully landscaped jogging track for those who appreciate outdoor exercise. Social and recreational needs are equally well addressed, with a residents’ lounge providing a serene space for relaxation, an open-air cinema for entertainment under the stars, and a multi-purpose court accommodating various sports.
By blending luxury, comfort, and a vibrant community spirit, One Beverly truly redefines what it means to live in opulence.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
As part of this venture, OMNIYAT GROUP has revealed a remarkable 11 million square-foot strategic project along the Jumeirah coastline, with 8 million square feet dedicated to BEYOND.
3 min
OMNIYAT GROUP introduces BEYOND, an innovative development company aimed at redefining the broader luxury real estate market. As part of this venture, OMNIYAT GROUP has revealed a remarkable 11 million square-foot strategic project along the Jumeirah coastline, with 8 million square feet dedicated to BEYOND. This visionary project promises a breathtaking living experience, seamlessly integrating lush landscapes with cutting-edge luxury, all set against the stunning backdrop of Dubai’s waterfront.
BEYOND, the latest premium brand from OMNIYAT GROUP, will utilize the company’s extensive global talent network to revolutionize urban living. Its mission is to create a community where luxury, nature, and city life harmoniously blend, offering thoughtfully designed homes with exceptional quality and timely delivery. This approach meets the evolving desires of today’s affluent buyers, who are looking for more than financial investment — they seek homes that reflect their personal values and elevate their quality of life. BEYOND will focus on delivering modern luxury with excellence and innovation, catering to the sophisticated needs of the contemporary lifestyle.
The development will combine world-class amenities with interactive technologies aimed at creating a seamless personalization experience for new property owners. Strategically located on the serene Jumeirah coastline, this master development will showcase an innovative approach to urban planning, where natural beauty and contemporary elegance coexist in perfect harmony. With its carefully curated design, the project will feature extensive lush green spaces complemented by world-class hospitality and high-level amenities. This integration of nature with top-tier services ensures that every convenience and comfort is at the residents’ doorstep, enriching their daily lives and promoting well-being.
Mahdi Amjad, Founder and Executive Chairman of OMNIYAT GROUP, “OMNIYAT GROUP is proud to partner with Dubai Maritime City to bring this visionary development to life. This collaboration has enabled us to create an unparalleled destination within the wider master plan of Maritime City, providing the perfect foundation for us to deliver something truly unique and transformative. With BEYOND leading the way in the wider luxury real estate market, this development will set a new standard for urban living where nature, luxury, and innovation seamlessly come together.”
“BEYOND embodies the OMNIYAT GROUP’s relentless pursuit of excellence and our vision of being best-in-class, in every class. By extending our commitment to creating exceptional living experiences in the wider luxury real estate segment, BEYOND strives to raise standards and curate environments that make life better, making exceptional living more accessible. “added Amjad.
Ahmed Al Hammadi, Chief Operating Officer, Dubai Maritime City commented: “We are proud to announce a new milestone within the Maritime City development, working closely with real estate pioneers to deliver a reimagined master plan. OMNIYAT GROUP’s visionary destination within Maritime City represents the pinnacle of this transformation. Our collaboration with OMNIYAT GROUP has resulted in a unique and remarkable project that will set a new standard for Dubai’s waterfront development.”
By combining the expertise and vision of leading industry players, this development stands as a testament to the power of collaborative innovation. The project will redefine residential excellence with the launch of BEYOND, OMNIYAT GROUP’s new real estate brand, which will deliver 8 million square feet of luxury living spaces. Additionally, OMNIYAT GROUP’s other divisions will cover 3 million square feet, ensuring this iconic development offers a unique blend of luxury and ultra luxury living experiences.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Recently announced bridge in collaboration with RTA will provide direct entry/exit points to the district, cutting down travel time from 12 to three minutes.
4 min
Shamal Holding, the owner and visionary behind Dubai Harbour, has unveiled stunning new renderings of its Dubai Harbour Residences project, showcasing a limited collection of premium apartments and penthouses to be built at the heart of Dubai Harbour.
Along with these striking visuals, Shamal has also shared additional details about the development, including the array of amenities available to residents.
A visionary project
Dubai Harbour Residences seamlessly fuses modern architectural design with the timeless appeal of beachfront living. The newly revealed images highlight the thoughtfully crafted exterior, elegant communal spaces, and refined apartments and penthouses, promising an unmatched living experience. With breathtaking views of the Arabian Gulf, Dubai’s iconic skyline, and the magnificent harbour marinas just steps away, residents can enjoy a distinctive beachfront lifestyle in one of the world’s most vibrant cities.
The first beachfront low rise living experience in Dubai Harbour
Dubai Harbour Residences introduces a rare concept in luxury living with its low-rise community-focused design, where apartments are thoughtfully distributed across eight floors. This approach fosters a sense of intimacy and exclusivity, creating a close-knit environment. The low-rise structure allows for more personalized living spaces, abundant natural light, and enhanced privacy, while maintaining a connection to the surrounding maritime landscape. Residents will enjoy the best of both worlds – a tranquil, residential ambiance but with easy access to the vibrant energy and amenities of Dubai Harbour and all it has to offer. Within the residences, there will be 345 units including one, two, three, and four-bedroom apartments, and penthouses.
Modern cutting-edge and curated living spaces
The reception and lobby areas have been designed to impress from the moment residents and guests step inside. With soaring ceilings, sleek marble floors, and carefully curated art pieces, the space exudes a sense of premium living. The lobby’s design blends contemporary aesthetics with warm, inviting tones and nautical color palettes, creating an atmosphere that is both luxurious and welcoming. High-end furnishings, bespoke lighting fixtures and impeccable textures and finishings add to the sophisticated ambiance, while the grand entrance sets the tone for the exceptional living experience that awaits.
World-class amenities
An exceptional array of wellness options, dedicated family spaces, and personalized services will cater to the diverse needs of residents. The development features a rooftop adult-only infinity pool with outdoor dining area, state-of-the-art fitness center, yoga studio, hairdresser, beauty salon, and serene spa facilities designed to promote relaxation and well-being. For families, the community includes specially designed play areas, a children’s pool, learning area, and family lounges where parents and children can bond in a safe, nurturing environment. Residents will also benefit from a range of personalized services, including 24/7 concierge assistance and valet parking, ensuring a lifestyle of convenience and comfort.
Continued enhancement of Dubai Harbour
The Dubai Harbour Residences development is part of Shamal’s long-term investment strategy and commitment to creating new vibrant communities, as it continues to enhance the amenities and facilities in and around Dubai Harbour to bring premium beachfront and maritime lifestyle to residents. Located at the intersection of the iconic Palm Jumeirah and Bluewaters Island, the destination is within easy reach from the city’s world-famous attractions and includes the region’s largest marina, featuring close to 700 berths that can accommodate yachts up to 160m. As well as the new 1500-metre bridge providing direct access on and off the district, Shamal is delivering a range of enhancements across Dubai Harbour as part of its plans to offer the best integrated community in terms of quality of life and the well-being of residents and visitors.
“Dubai Harbour Residences is our first residential project at Dubai Harbour and is a bold statement of our commitment to creating extraordinary living experiences and new vibrant communities. The project promises to provide residents with a beachfront living unlike any other in the market,” said Abdulla Binhabtoor, Chief Executive Officer, Shamal Holding, Owner and Curator of Dubai Harbour. “This development is designed for the discerning buyer who is aspiring for prestige, and demands not just a home, but a lifestyle. Our vision is to create a unique space where residents can feel part of a community, enjoy the best of Dubai’s culture and have maritime experiences right at their doorstep. Dubai Harbour is the region’s most unique lifestyle offering and the new residences will be a perfect addition.”
Leading Dubai-based developer H&H Development has nearly two decades of experience creating upscale projects in the UAE and is working closely with Shamal Holding as the development manager. Miltos Bosinis, Chief Executive Officer, H&H Development, added, “Dubai Harbour Residences is perfectly located in the heart of Dubai, and is designed to cater to both individuals and families seeking a refined beachfront lifestyle with an urban feel. The newly released visuals offer a preview of the development’s exceptional design and comfort, showcasing an exclusive low-rise community. This unique enclave combines the best of both worlds, providing a serene and stylish development amidst the dynamic energy of Dubai Harbour.”
Internationally acclaimed Japanese firm Nikken Sekkei, famed for its innovative approach to architecture, has led on the project design. “Our vision for Dubai Harbour Residences was to create a harmonious blend of modern luxury and the natural beauty of the waterfront,” said Dr. Fadi Jabri, Regional Head/CEO of Nikken Sekkei Dubai FZ-LLC. “We’ve incorporated sleek, contemporary designs that maximise natural light and offer unparalleled panoramic views of the beach and sea. Every element has been thoughtfully crafted to provide residents with a serene and sophisticated living experience that reflects the dynamic spirit of Dubai.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Offering Tranquil Park Views and Immediate Occupancy.
< 1 min
haus & haus Real Estate has unveiled an exclusive new ‘elevated villa’ in Saheel 1, located within the Arabian Ranches community, now available on the market for AED 16,750,000.
This unique property is an architectural marvel, elevated approximately two meters above a mature park, offering stunning views of lush greenery and creating a tranquil retreat far removed from the city’s hustle and bustle.
Spanning a built-up area of 5,000 sq.ft and set on a generous plot of 6,668 sq.ft, the villa is vacant on transfer, allowing for immediate occupancy. The property unveiled by haus & haus Real Estate features six spacious bedrooms, each with its own ensuite bathroom, along with several other standout features:
- Quiet and Private: Situated on a tranquil cul-de-sac, this villa offers a perfectly quiet and private plot.
- Bijou Outdoor Entertainment: Ideal for hosting gatherings, the outdoor space is designed for entertaining with elegance.
- Double Height Lobby: A grand entrance featuring a large skylight that floods the space with natural light.
- Smart Home Technology: Equipped with an inbuilt Sonos sound system and smart home features for modern living.
- Luxury Amenities: Sunset cabana, olive tree, hidden outdoor shower, and a heater & chiller for the private saltwater pool
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
The new collaboration aims to deliver flexible real estate financing solutions with competitive rates and extended grace periods.
4 min
Khaleeji Bank has signed a Memorandum of Understanding (MoU) with Al Areen Holding Company, a major player in the real estate sector. This strategic partnership aims to enhance and streamline real estate financing for Al Areen’s projects.
Through this collaboration, the bank will provide innovative financial solutions tailored to clients interested in purchasing residential units within the “Tilal” Residential Project, part of Al Areen’s master plan. These financing solutions will include competitive profit rates and funding of up to 100% of the property’s value, along with a flexible grace period.
The signing ceremony took place at Khaleeji’s headquarters in the GFH Tower and was attended by Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji, Dr. Ahlam Zainal, CEO of Al Areen Holding Company, Mr. Ahmed Khalfan, Chief Marketing & Sales Officer of Al Areen Holding and CEO of the “Tilal” Residential Project, alongside other officials from both organizations.
On this occasion, Ms. Ameera Ahmed Al Abbasi expressed her gratification in this collaboration, stating “This strategic partnership with Al Areen Holding Company embodies our firm commitment to supporting the growth of the real estate sector in the Kingdom of Bahrain. At Khaleeji, we always strive to provide innovative financing offers that meet our clients’ needs and ambitions, thereby enhancing their experience in the real estate market. Through this partnership, we will ensure the provision of a comprehensive range of financing solutions, including competitive profit rates and a flexible grace period, to facilitate the ownership process for our clients.”
She added “The ‘Tilal’ Residential Project exemplifies quality and modern design, providing an ideal living and investment environment. We are also committed to providing a satisfying and personalized banking experience for every client. We hope that our clients will take advantage of these outstanding opportunities made through this initiative, which reflects our values of innovation and sustainable support for economic growth. We are pleased to invite clients interested in owning units in this leading housing project to visit the promotional stand between 19th – 29th September at City Center Bahrain, to learn about the financing solutions available under this agreement.”
On her part, Dr. Ahlam Zainal, CEO of Al Areen Holding Company, stated: “We are pleased to announce our cooperation with Khaleeji Bank to provide a range of financing options that enable our customers to own a home in the Tilal project, the third residential development within the Al Areen masterplan. This project will serve as an exceptional tourist and residential destination, thanks to its distinguished components and services setting new standards in urban living.”
She added: “At Al Areen Holding Company, we are committed to offering our customers the best services and experiences. Our partnership with Khaleeji Bank reflects our keenness to meet our customers’ aspirations and exceeding their expectations. We pride ourselves on delivering a seamless and personalized experience, from home selection and ownership to building long-term relationships.”
Mr. Ahmed Khalfan, Chief Marketing and Sales Officer of Al Areen Holding and CEO of Tilal Residential Project, commented: “This partnership allows us to provide added value to our customers by simplifying the steps required to obtain their desired residential units, making it a more seamless process. The Tilal Residential Project is a pioneering initiative that underscores our commitment to high standards of quality and innovation in the real estate sector. We believe this agreement will enhance our ability to meet market demands and attract customers seeking their dream homes, especially within the Tilal Residential Project, which presents a unique array of options, including luxury villas and townhouses designed according to the highest international standards, with sizes ranging from 3 to 5 bedrooms, each featuring modern designs aligned with contemporary trends.”
He added: “On this occasion, I extend a special invitation to those interested in our offerings for owning a villa or townhouse in Tilal Residential Project to visit our stand at the City Centre Bahrain (near Debenhams) from September 19 to 29, where they can learn more about the project and book the most suitable options in the masterplan.”
It is noteworthy that “Tilal” Residential Project offers a unique living experience amidst sustainable surroundings, featuring vast green spaces and picturesque views of the Al Areen Wildlife Park. Covering an area of 93,600 square meters, the project includes luxury villas and townhouses designed to meet the needs of Bahraini and GCC families, allowing for customization options. Units are available with the option of 3, 4, and 5 bedrooms, each incorporating modern designs in line with contemporary trends.
Khaleeji is a leading Islamic Bank that strives to achieve clients’ ambitions through an Islamic Banking model that offers a comprehensive range of high quality Shari’a-complaint banking services and investment opportunities to individuals and companies.
Visit Khaleeji Bank’s website at www.khaleeji.bank and follow the bank’s verified social media accounts on Instagram, Facebook, LinkedIn, YouTube, and X platforms to stay updated on the latest news and offers.
Al Areen Holding is a leading real estate development company in Bahrain, dedicated to creating exceptional residential, commercial and hospitality projects. With a commitment to quality, innovation and sustainability, Al Areen Holding strives to exceed customer expectations and contribute to the economic growth of the Kingdom of Bahrain. The company’s diverse portfolio showcases its expertise and vision for the future of Bahrain’s real estate sector.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
A stunning twin-tower luxury managed residential development designed by Foster + Partners launches in Dubai.
3 min
Sankari, a premier luxury real estate developer in Dubai, is thrilled to announce a groundbreaking partnership with IHG® Hotels & Resorts, one of the world’s leading hospitality companies, to launch the world’s first Regent Residences in Dubai.
This flagship development, Regent Residences Dubai – Sankari Place, will be located in Dubai’s prestigious Marasi Marina neighborhood and will feature 63 full-floor upper luxury residences as well as ten floating homes. This project marks a significant milestone for both Sankari and IHG, being the first Regent-managed standalone residential project of its kind, set to transform the definition of luxury lifestyle. “The best talent from the industry has been brought together to deliver on the Sankari family’s vision,” says Mark Phoenix, CEO of Sankari.
The collaboration between Sankari and IHG marks a landmark moment for both parties, blending the innovative vision of Sankari with the esteemed legacy of the Regent brand under the IHG portfolio. Regent Residences Dubai – Sankari Place is set to become a premier destination, establishing one of the most sought-after residential addresses, embodying true modern luxury, in the UAE. This development underscores the commitment of both Sankari and IHG to elevate the standard of premium hospitality experiences within a residential ecosystem.
Introducing Sankari Place
Situated in the heart of Marasi Marina, Sankari Place is envisioned as an exclusive destination for upper luxury living. This prominent waterfront peninsula offers residents unparalleled views of Dubai Creek and Downtown Dubai, providing a perfect blend of serenity and urban convenience. The concept of Sankari Place is designed to create an exclusive and opulent living experience, with top-tier amenities and services that cater to the refined tastes of modern luxury homeowners.
Mohammed Sankari, Chairman of Sankari, shares his personal connection to the project: “Sankari Place is deeply significant to me and my family. This development is more than just a project; it is the foundation of a legacy we are building in honor of my father. It embodies our family’s commitment to excellence and innovation in real estate, and we are proud to see our vision come to life in such a prestigious location.”
Regent – A Legacy of Luxury
The Regent brand, renowned for its sophistication and elegance, boasts a storied history with iconic properties such as the legendary Carlton Cannes, a destination for Hollywood stars and the global elite. Regent’s portfolio includes 10 properties worldwide, located in some of the world’s most premier urban centers: Beijing, Berlin, Cannes, Chongqing, Hong Kong, Phu Quoc, Porto Montenegro, Shanghai on the Bund, Shanghai Pudong, and Taipei. Regent Residences Dubai – Sankari Place will be their first standalone residential flagship project developed from inception. This landmark project marks the beginning of Regent’s vision to develop their branded residences footprint in the region.
IHG Hotels & Resorts – True Hospitality for Good
IHG Hotels & Resorts, with its vast portfolio of brands, continues to expand its presence in the luxury sector. Haitham Mattar, Managing Director, India, Middle East & Africa, IHG, states, “Regent Residences Dubai – Sankari Place represents a unique opportunity for IHG to strengthen our offering in the branded residential space in Dubai. We trust our partnership with Sankari will drive forward our success in this remarkable city and are committed to elevating luxury living options for Dubai residents.”
Mark Phoenix of Sankari comments, “We are thrilled to partner with IHG, a world-renowned industry leader, to bring this vision to life. This collaboration sets the stage for a state-of-the-art residential complex with the highest service standards in the UAE, offering owners and residents an exceptional hospitality experience in their homes. We proudly introduce this area as Sankari Place.”
Project Information
The Regent Residences Dubai – Sankari Place will feature 63 full-floor residences, each equipped with a private swimming pool and expansive outdoor living spaces. The architectural design, conceived by Foster + Partners, reflects opulent living with a cascading twin-tower structure. Residents will have access to world-class facilities, including health and fitness centers, a golf simulator, a cinema, and gaming room. For sports enthusiasts, there are tennis and padel courts, while lovers of fine dining can enjoy a private dining room, cigar lounge, and cellar. The development also includes a business lounge, a large spa, and a residents’ lounge, ensuring every need is catered to.
Dr. Sankari, Founder and Chairman of Sankari, concludes, “This flagship project is a testament to our vision of creating developments that leave a lasting impact. We are committed to building a legacy that holds value and demands respect, and our collaboration with IHG on Regent Residences Dubai – Sankari Place is a significant step towards realizing this dream.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Designed by BLOCC Interiors, the show apartment celebrates Bermondsey’s eclectic charm.
3 min
Barratt London has introduced a new two-bedroom show apartment at Bermondsey Heights, offering potential buyers from around the world, including the Gulf region, a glimpse into the contemporary lifestyle its homes provide. Ideally located in Zone 2, this 26-storey development draws inspiration from the vibrant and creative atmosphere of southeast London’s thriving business community.
Designed by BLOCC Interiors, one of the UK’s top interior design firms, the show apartment reflects Bermondsey’s unique character, showcasing a diverse selection of local brands, ranging from emerging boutiques to established retailers.
Bermondsey Heights is expected to attract considerable interest from Middle Eastern buyers, many of whom view London’s booming real estate market as a prime investment opportunity. Research by Al Rayan Bank reveals that 89% of investors from Saudi Arabia, Qatar, and the UAE consider the UK a top priority market.
Suzanne Thomas, Creative Sales Director at BLOCC Interiors, commented: “We’ve crafted a space that not only meets but exceeds the expectations of investors and homebuyers alike. Offering a perfect blend of functionality and allure, we have embodied the epitome of London living, where every detail is thoughtfully curated to cater to a wide audience seeking the ultimate urban retreat.”
The UK is currently embracing a wide range of design trends, including global influences from Japan and Scandinavia, biophilic designs with an emphasis on wellbeing, and sustainable interiors equipped for modern life. Interior designers in the UK are focusing more on creativity and innovation, with a strong emphasis on technology integration and natural materials, such as reclaimed wood and eco-friendly composites.
Many of these trends are making their way to the UAE, a region known for its love of luxury and cutting-edge design. According to Suzanne Thomas, these trends are often adapted to suit the unique cultural and environmental context of the UAE.
She said: “The emphasis on sustainability in the UK is resonating in the UAE for instance, but with a focus on energy-efficient cooling systems and sustainable materials that perform well in hot climates. Similarly, the UK’s blend of minimalism and maximalism is being reinterpreted in the UAE with a more opulent and grandiose flair.
“We also foresee an increased fusion of modernity with cultural elements, as well as a greater emphasis on wellness-oriented spaces that cater to the high-end market’s demand for luxury and comfort.”
Barratt London’s Bermondsey Heights homes feature open-plan designs, providing a seamless flow from the kitchens to the dining and living areas. The apartments’ stylish kitchens are replete with integrated appliances, while outdoor winter gardens extend spaces further, offering areas suitable for a range of activities, from entertaining guests to yoga practice.
The main tower at Bermondsey Heights will stand 26 storeys high, bringing 163 private one-, two- and three-bedroom apartments to the market. Residents will enjoy panoramic views of London’s iconic cityscape while benefitting from landscaped courtyard gardens, roof terraces and a children’s play area.
Stuart Leslie, International Sales and Marketing Director at Barratt London, said: “London is known internationally as a leading tastemaker, especially in the Gulf, so it’s important we reflect this with our show apartments. We understand that a first impression can have a lasting impact. By working with BLOCC Interiors, we want to showcase how our homes can highlight the latest interior trends while also creating functional spaces and championing local businesses.”
London’s appeal in the Gulf underscores its reputation as a stable market for property buyers. Analysts from the Bank of London and the Middle East (BLME) predict that investors from the region will contribute $3.2 billion to the UK’s real estate market in 2024.
Several factors contribute to Bermondsey Heights’ appeal to Middle East buyers. Situated in prime position between Lambeth and Southwark, the development is within easy reach of many of the capital’s top destinations, including Tower Bridge, The Shard and Borough Market. Other sought-after districts such as Chelsea and Fulham, meanwhile, are just a short journey across the River Thames.
Bermondsey Heights is also well connected with numerous bus services, and South Bermondsey railway station is only a 10-minute walk away. From there, it’s just one stop to the major travel hub of London Bridge Station, which offers a variety of National Rail services as well as London Underground Jubilee and Northern Line connections, linking with King’s Cross, Brighton and the South Coast, the North of England, and Scotland.
Prices for homes at Barratt London’s Bermondsey Heights begin at £449,000 ($582,500) for a one-bedroom apartment.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
This collaboration highlights Refine’s dedication to shaping the future of Dubai’s real estate market.
2 min
Refine announced its appointment as the official representative for the Fairmont Residences Solara Tower in Downtown Dubai. Investors and potential residents are invited to explore this outstanding off-plan development, with the sales center set to officially open on Tuesday, 10th September at Emaar Square Building 6.
This collaboration between Refine, Sol Properties, and the globally renowned luxury brand Fairmont highlights Refine’s dedication to shaping the future of Dubai’s real estate market and offering investors the exclusive advantages of branded residence ownership.
Thomas Wan, Managing Partner of Refine, expressed his excitement about the partnership: “We are honored to represent such an iconic project in one of Dubai’s most coveted locations. The Fairmont Residences Solara Tower Dubai exemplifies our vision of redefining urban luxury, offering residents a blend of nature, elegance, and state-of-the-art amenities. This collaboration further strengthens our portfolio and our mission to bring world-class developments to discerning investors and residents.”
Fairmont Residences Solara Tower represents the pinnacle of urban luxury, combining innovative Japanese design, private gardens in the apartments and Fairmont’s legendary hospitality. Situated just steps away from the Burj Khalifa, Dubai Mall, and Dubai Opera, the Fairmont Solara Tower offers an unparalleled living experience in the heart of one of the world’s most vibrant cities. Fairmont, a byword for exceptional quality, luxury and hospitality, lends its exclusive marque to the exclusive development by Sol Properties, located in the heart of Dubai.
Project Highlights include:
- Prime location: Situated in Downtown Dubai, the Fairmont Residences Solara Tower places residents just minutes away from the city’s most renowned attractions, including Burj Khalifa, Dubai Mall, and Jumeirah Beach.
- Luxurious residences: The tower features 246 residences, including 1-4 bedroom apartments and exclusive 5-bedroom duplex penthouses with private rooftops. Each unit offers panoramic views of Dubai’s most iconic landmarks, including the Burj Khalifa, Dubai Fountain, and Dubai Water Canal.
- Innovative design: The residences are designed with extensive green spaces that bring nature into the living environment. Expansive terraces and large open areas maximise natural light and provide breathtaking views of Dubai’s shimmering skyline.
- Exceptional amenities: Residents will enjoy a 60m swimming pool, private dining options, Zen gardens, aqua therapy, a spa with massage rooms, steam rooms, and saunas, as well as a rooftop pool offering stunning views of Downtown Dubai. Additional amenities include a cinema room, golf simulator, padel court, and indoor/outdoor yoga areas.
- Signature service: Fairmont’s legendary service ensures that every resident’s needs are met with precision and care, enhanced by Accor’s Diamond Global Privileges and Network, offering exclusive access to more than 5,500 hotels and resorts worldwide.
Representing Fairmont Residences Solara Tower highlights Refine’s contribution to the burgeoning real estate market of Dubai, celebrating the city’s vibrant lifestyle and luxury living.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
The COP is intended to provide a comprehensive solution to stabilize the Company’s financial and operational platforms
6 min
Emaar the Economic City (EEC), the master developer behind King Abdullah Economic City (KAEC), has unveiled a transformative business strategy, approved by the Board of Directors and aligned with Saudi Vision 2030. This strategy will be supported by a SAR 8.7 billion Capital Optimization Plan (COP), which includes the restructuring of EEC’s SAR 3.8 billion bank debt, the full conversion of SAR 4.0 billion in debt owed to the Public Investment Fund (PIF) into share capital, and a new SAR 1.0 billion convertible shareholder facility from PIF. Additionally, EEC plans to pursue a capital reduction to eliminate its accumulated losses.
The COP, developed through thorough assessment and analysis over the past two years, aims to stabilize EEC’s financial and operational platforms, optimize its capital structure, and create a solid foundation for long-term value creation and maximization for shareholders, clients, and stakeholders.
Capital Optimisation Plan to provide a strong platform for holistic turnaround
The COP reinforces EEC’s robust partnership with key stakeholders including i) one of its major shareholders, PIF, and ii) its commercial lenders (Alinma Bank, Saudi Awwal Bank, Banque Saudi Fransi and Saudi National Bank). The COP’s four key components each offer independent and specific benefits to EEC:
- A restructuring and syndication of all EEC’s existing bilateral credit facilities with Alinma Bank, Saudi Awwal Bank, Banque Saudi Fransi and Saudi National Bank (together the “Banks”) amounting to SAR 3.8 billion. This will re-align the repayment schedules for EEC’s bank debt facilities to match the Company’s investment plan, turnaround strategy and liquidity profile. The debt will be governed under one new syndicated facility agreement and is fully Shari’a-compliant.
- The full conversion to share capital of SAR 4.0 billion of EEC’s debt, representing a SAR 2.9 billion facility from the Ministry of Finance (“MoF”), which was recently novated to PIF, and a SAR 1.1 billion shareholder loan from PIF. This conversion will significantly de-leverage EEC’s balance sheet and reduce interest expense with the added benefit of shoring up the Company’s share capital position.
- A new convertible shareholder facility of up to SAR 1.0 billion from PIF to bolster the Company’s liquidity position and provide adequate funding over the short- and medium-term to invest in critical and transformative growth initiatives, which are integral to the successful turnaround of EEC.
- A capital decrease, to offset EEC’s accumulated losses. The capital decrease will have no adverse impact on the operations of the Company, but is designed to stabilize EEC’s financial position, creating a healthier balance sheet and greater potential for future growth.
It should be noted that both the debt conversion and the capital decrease remain subject to regulatory and shareholder approvals, while the restructuring and syndication of the existing bilateral credit facilities and PIF’s new shareholder loan are not binding at this stage and are subject to finalization of, and entry to, binding long-form documentation with related parties. EEC will make further announcements to the market in due course.
Strategic focus: aligning with Saudi Vision 2030 by enhancing key sectors for development
The COP enables EEC to focus on its strategic priorities for the Company and KAEC, which include industrial and logistics businesses, non-industrial knowledge-based sectors, tourism and residential real estate. With the strategy subject to continual refinement to tap dynamic market opportunities, EEC will prioritise developing an attractive ecosystem for industrial, logistics and non-industrial businesses to flourish by developing sector specialised facilities and services for them to access. In tourism, EEC will focus on enhancing the quality and diversity of visitor services and experiences, attracting events and cultivating diverse entertainment offerings, and establishing a domestic and regional profile for the City as a premier destination to visit. Objectives for residential real estate are to provide a range of quality housing options for a wide range of resident segments and to ensure access to high quality social infrastructure and services.
Key foundations for achieving strategic priorities
Strategic priorities for EEC will focus on both real estate and operations. The three strategic pillars of EEC’s real estate business are city master development, real estate development and asset management. Within these, the Company will focus on attracting and retaining reputable real estate developers and investors and executing a more efficient and optimised master plan for KAEC. EEC will selectively execute signature projects independently or in collaboration with partners, upgrade and monetise current real estate inventory, and improve the performance of assets by partnering with best-in-class operators. For Special Economic Zone (“SEZ”) operations, EEC will seek to leverage reputable Industrial Valley tenants to attract more businesses.
The longer-term focus will be to transform and grow by achieving positive cash flows and investing in residential projects, growing the asset management business to increase exposure to achieve sustainable performance. EEC is prioritizing the continued upgrade of KAEC utilities with particular focus on infrastructure, paving the way for investors to set up and invest in projects, and contributing to a more stable and efficient operating model.
Mr. Fahad Al Saif, Chairman of EEC, commented: “EEC stands at a vital inflection point, as we pivot from a period of transition to one of opportunity. The implementation of the COP, which underpins EEC’s Board-approved strategy, will enable the Company to capitalise on available opportunities to align its direction with Saudi Vision 2030. It also provides the blueprint for a stable platform for growth, focused on unlocking the full potential of KAEC and enhancing the sustainability of our business. We are setting the stage for a transformation that will not only drive value creation, but also redefine our role in the Kingdom to achieve the goals of Vision 2030.”
Mr. Abdulaziz Ibrahim Alnowaiser, CEO of EEC, said: “The implementation of our Capital Optimisation Plan is a pivotal moment. This carefully devised plan does more than fortify our balance sheet; it sets the stage for us to seize opportunities with greater agility. As we undertake the strategic rebalancing of our financial framework, our objective is clear: to improve our leverage ratios and bolster overall financial health.”
“In parallel, we are evaluating a series of further structural and functional measures to ensure EEC returns to full financial health, strengthening our key relationships with various stakeholders, in addition to refreshing our long-term strategy periodically to establish a clear roadmap for reviving the Company’s ability to achieve its core mission of developing this exceptional property and delivering shareholder value.”
Outlook
EEC and KAEC are aligned with the transformative programs and initiatives of Saudi Vision 2030, aligning KAEC’s sectors and businesses with the Vision for all stakeholders, positioning both as dynamic and forward-looking “vision-ready” platforms. The City’s recently granted Special Economic Zone status within the Kingdom is expected to better position KAEC to attract businesses and residents. Meanwhile, the development of the King Abdullah Port, which is located inside the City and a major maritime hub for Saudi Arabia and the wider region, is expected to further support growth at KAEC, and create a positive spillover effect for the KAEC Special Economic Zone contained within the Industrial Valley. The Company has also enhanced its human capital by acquiring top talents, who are mostly Saudi, led by CEO Mr. Abdulaziz Ibrahim Alnowaiser and team members.
Currently, KAEC holds a number of high-end automotive industry players, and one of the most significant Heating, Ventilation and Air Conditioning (HVAC) manufacturing plants in the Middle East, which exports its products to the world through King Abdullah Port and is a hub for some of the top pharmaceutical manufacturers in the region. Moving forward, KAEC plans to offer more facilities to industrial players, including logistical, residential and commercial facilities, further enhancing its business ecosystem and supporting the growth of its partners.
Recently confirmed high-profile projects at KAEC include the King Abdullah Economic City Stadium, a 45,000-seat sports arena set to open by 2032 and taking its design inspiration from the growth and adaptation of Red Sea coral reefs. With the stadium expected mostly to be used for football (including FIFA World Cup 2034), concerts and exhibitions, it will be a multi-functional hub that includes hotels, mixed-use areas, and sports clinics, and significantly boosts KAEC’s potential to become a world-class sports, entertainment and tourism destination.
Meanwhile, key hospitality projects already underway include a partnership with Vivienda to establish a waterfront resort on a 29,000sqm plot; with Envi to develop a 70,000sqm destination; and with FTG Development for the Rixos at Emerald Shores project located in KAEC’s Al Murooj district, which will be built on a 275,000sqm plot and expects to welcome as many as 320,000 visitors annually following an initial ramp-up period.
During the course of the first half of 2024, EEC has made important strides in business development, cultivating a robust pipeline of potential investors in KAEC and building momentum. The Company is also investing in a refurbishment project to bolster the sales of its residential units. Throughout H1 2024, extensive cost controls and cost optimisation mechanisms have been implemented, resulting in material savings in operational and business-as-usual costs, while enabling the Company to invest in structural fixes and performance enhancement activities.
Moelis & Company is serving as independent advisor to EEC on its debt restructuring. SNB Capital Company is serving as Financial Advisor to EEC for its capital decrease and the debt conversion. Khoshaim & Associates is serving as Legal Advisor to EEC in relation to all aspects of the Capital Optimisation Plan.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Alexandre de Betak and his wife are focusing on their most personal project yet.
This will help developers navigate the competitive landscape.
2 min
Engel & Völkers Middle East has introduced its new Development Services department, designed to address the distinct requirements of developers, builders, and investors in the region.
As Dubai’s real estate market continues to grow at a rapid pace, the need for specialized services to help developers navigate this highly competitive sector is more crucial than ever. Engel & Völkers Development Services is equipped to provide expert guidance throughout every phase of the development process, from land acquisition and project conceptualization to sales, marketing, and branding strategies.
Daniel Hadi, CEO of Engel & Völkers Middle East, emphasized the importance of this launch, stating, “As Dubai’s real estate market continues to grow with new launches happening daily, we saw the growing need for a specialized service that could help developers navigate this competitive landscape. The timing is ideal for our Development Services department to offer the expertise required to create projects that not only stand out but also meet the high standards of quality and innovation that the market demands.”
“Our focus is on partnering with those who are committed to building a reputation for excellence in the industry. Whether it’s an emerging developer with a great vision or an established firm looking to build their portfolio, Engel & Völkers Development Services is equipped to provide the guidance and support necessary to bring their projects to life with exceptional results,” added Hadi.
The new department stands apart within Engel & Völkers by offering a comprehensive range of services that cater specifically to the needs of developers. Unlike the Residential and Commercial divisions, which focus on sales and rental transactions, Engel & Völkers Development Services provides expert guidance throughout the entire development process. This includes strategic planning, market analysis, and innovative marketing approaches, ensuring that each project not only meets but exceeds market expectations.
This is a strategic extension of Engel & Völkers Middle East’s mission to be the leading consultant in all aspects of real estate. By introducing this department, the company is leveraging decades of experience in both the residential and commercial sectors to provide comprehensive support to real estate developers. This new division will solidify Engel & Völkers’ position as the go-to partner for all real estate needs in the region, contributing to the sustainable growth and development of the Middle East’s real estate landscape.
Engel & Völkers Middle East’s Development Services department is committed to setting new standards for quality, innovation, and profitability in the UAE’s real estate market. The division aims to drive a shift towards more thoughtful, well-executed developments that align with market demands and consumer expectations.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Sydney’s prestige market is looking up, here’s three of the best on the market right now.
The Republican nominee says it would help bring down home prices, though these buyers account for a fraction of U.S. home sales
3 min
Former President Donald Trump said he would ban undocumented immigrants from obtaining home mortgages, a move he indicated would help ease home prices even though these buyers account for a tiny fraction of U.S. home sales.
Home loans to undocumented people living in the U.S. are legal but they aren’t especially common. Between 5,000 and 6,000 mortgages of this kind were issued last year, according to estimates from researchers at the Urban Institute in Washington.
Overall, lenders issued more than 3.4 million mortgages to all home purchasers in 2023, federal government data show.
Trump, the Republican presidential nominee, made his comments Thursday during a policy speech to the Economic Club of New York in Manhattan.
Housing remains a top economic issue for voters during this presidential election. Rent and home prices grew at historic rates during the pandemic and mortgage rates climbed to levels not seen in more than two decades. A July Wall Street Journal poll showed that voters rank housing as their second-biggest inflation concern after groceries.
Both major candidates for the 2024 presidential election have made appeals to voters on housing during recent campaign stops, though the issue has so far featured more prominently in Vice President Kamala Harris ’s campaign.
Trump has blamed immigrants for many of the nation’s woes, including crime and unemployment. Now, he is pointing to immigrants as a cause of the nation’s housing-affordability crisis. Yet some affordable-housing advocates and real-estate professionals said Trump’s mortgage proposal would fail to bring relief to priced-out home buyers.
“It’s unfortunate that given the significant housing affordability crisis that is widely acknowledged across most partisan lines, we are arguing about a minuscule segment of the market,” said David Dworkin, president of the National Housing Conference, an affordable-housing advocacy group.
Gary Acosta, chief executive of the National Association of Hispanic Real Estate Professionals, a trade organization, said, “It’s just another effort to vilify immigrants and to continue to scapegoat them for any issues that we have here in the United States.”
A Trump campaign spokeswoman didn’t immediately respond to a request for comment.
Undocumented immigrants in the U.S. can obtain an obscure type of mortgage designed for taxpayers without Social Security numbers, most of whom are Hispanic. The passage of the USA Patriot Act of 2001 allowed banks to use identification numbers from the Internal Revenue Service as an alternative to Social Security, extending a number of financial services to people without legal status for the first time.
Mortgage loans for undocumented immigrants are typically higher interest and borrowers include legal residents who have undocumented spouses, Acosta said. Lenders include regional credit unions and community-development financial institutions.
In his speech, Trump said that “the flood” of undocumented immigrants is driving up housing costs. “That’s why my plan will ban mortgages for illegal aliens,” he said.
Trump didn’t elaborate on how he would enact a ban on such loans.
Though mortgages for undocumented people living in the U.S. are relatively rare, residential real-estate purchases by foreign nationals are big business , especially in expensive coastal cities such as New York and Los Angeles. These sales have declined in recent years, however.
Close to half of foreign purchases are made by people residing abroad, while the other half are made by recent immigrants or residents on nonimmigrant visas, according to an annual survey by the National Association of Realtors. Many affluent foreigners buy U.S. homes with cash instead of obtaining mortgage financing.
In his Thursday speech, which focused mostly on other economic matters such as energy and taxation, Trump proposed other measures to bring down housing costs, including cutting regulations for builders and allowing more building on federal land. Similar ideas appeared in the housing policy outline Harris released in August .
The former president has spoken on housing-related issues in speeches at other recent campaign stops, including in Michigan last month, where he touted his administration’s 2020 overturn of a policy that had encouraged cities to reduce racial segregation .
“I keep the suburbs safe,” Trump said. “I stopped low-income towers from rising right alongside of their house. And I’m keeping the illegal aliens away from the suburbs.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Offering a distinctive mix of investment opportunities across residential and hospitality segments.
2 min
Ras Al Khaimah (RAK) is quickly gaining recognition as a premier destination for real estate investors in the UAE, offering a distinctive mix of natural beauty, strategic positioning, and forward-looking development strategies.
The emirate’s real estate sector is on the cusp of a major growth phase, presenting a range of investment opportunities across both residential and hospitality markets, with the promise of strong returns and a high quality of life.
In the last 12 months, RAK has seen a consistent rise in property values, delivering impressive returns on investment. Apartment capital values have climbed by as much as 35%, with internal rates of return (IRR) ranging from 20% to 30%.
Al Marjan Island has emerged as a particularly desirable area, providing rental yields above 9%, outpacing other emirates. This shift highlights RAK’s increasing appeal to investors seeking lucrative returns in less saturated markets, solidifying its position as a key destination for maximizing real estate investments.
Oliver Mitri, Co-Founder of Imobiliare Dubai, which has been at the forefront of promoting RAK’s real estate potential to the global market, says, “Ras Al Khaimah offers a fresh perspective for real estate investors, combining high returns with untapped potential. The emirate’s strategic developments and supportive government policies create a unique environment where growth and innovation thrive. At Imobiliare Dubai, we are excited to showcase RAK’s emerging opportunities to our global investors, emphasizing the region’s compelling combination of natural beauty, economic stability, and robust returns.”
The opportunity presented by RAK, has seen developers from around the UAE announce new properties in the emirate, one of which has been DAMAC’s first branded project in RAK, in partnership with Babolex. The luxury development is set to attract high-net-worth individuals and international investors, adding a new layer of sophistication to RAK’s real estate landscape. The project signals a broader trend of luxury developments that cater to discerning buyers looking for exclusivity and high-end amenities.
But the real estate opportunities in RAK are not limited to residential properties. The hospitality sector is also poised for substantial growth, driven by the emirate’s commitment to becoming a leading tourism and leisure destination. A key highlight of RAK’s growing appeal is the upcoming Wynn Al Marjan Island, a multi-billion-dollar integrated resort development set to open in 2026. Positioned on Al Marjan Island with its unparalleled sea views, the resort is expected to drive significant tourist traffic and boost occupancy rates, creating a ripple effect of increased demand for real estate in the vicinity.
As Ras Al Khaimah continues to build on its strengths and attract more global interest, the real estate sector is set to remain a cornerstone of its economic landscape. With new projects on the horizon and a strategic focus on growth and diversification, RAK offers unparalleled opportunities for investors and residents alike, promising a vibrant future filled with potential and prosperity.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Self-tracking has moved beyond professional athletes and data geeks.
