Riyadh residential sales values surge 63% year-on-year to SAR65.7 billion

Home builders need to cut costs. They are looking to do so with cheaper cabinets, faucets and countertops. Their cost-cutting is part of a broader effort to offer more affordable homes when buyers are concerned about high prices, elevated mortgage rates and an uncertain economy. The cumulative effect is changing the appearance of newly constructed American homes. “It kind of looks incomplete,” said Erika Phelan, a real-estate agent at Buyers Broker of Florida. Nicholas Miller offers a tour of what today’s new houses look like in this cost-conscious era.

New York City apartment developers have one number on their minds these days—99. That’s because a 2024 city tax program offers certain exemptions for buildings with fewer than 100 units. Now, more developers are assembling complexes with hundreds of apartments, featuring joint facades, interlocking floor plates, and sometimes connecting hallways. But they are slicing them up into 99-unit pieces to qualify for the tax break. Rebecca Picciotto explores how this loophole works and why it’s getting pushback from construction workers.

Flimsier Cabinets and Fewer Windows: Home Builders Are Skimping on the Basics

Whitewill, the international luxury real estate agency for developers and partners across the UK, USA, and UAE markets, has reported strong ultra-luxury residential property demand across Dubai and Abu Dhabi, reflecting investor confidence and continued appetite for high-quality assets in both emirates. This also points to a market that is becoming more selective, with capital continuing to concentrate around prime locations and credible developments.

Olga Pankina, COO of Whitewill Dubai, commented: “The deals we are seeing across Dubai and Abu Dhabi show that demand remains firmly present, but buyers are approaching the market with greater discipline and a clearer investment strategy. In Dubai, we continue to see strong interest in liquid secondary stock and rare waterfront assets, while in Abu Dhabi, demand is more concentrated in branded, concept-led developments with a long-term ownership profile. Across both markets, clients are prioritising legal security, trusted developers, and assets that can preserve value over time. Our role is to guide clients through that process with clear advice, full transaction support, and access to opportunities that match their goals.”

Dubai’s prime market stays active

In Dubai, demand is largely concentrated in the secondary market, with strong interest in studios and one- to two-bedroom apartments in Business Bay, Bluewaters Island, Downtown, Dubai Harbour, and Jumeirah waterfront communities such as Port de La Mer. Most deals fall within the AED 1 million to AED 3 million range, while prime and waterfront assets typically reach AED 4 million to AED 6 million, and ultra-luxury homes exceed AED 40 million. 

One of Whitewill’s standout recent deals in Dubai was the transfer of a duplex penthouse at Bluewaters Residence for AED 90 million. Spanning 875 sqm, the property includes a private terrace, private pool, and panoramic sea views, reflecting continued interest in rare trophy assets in prime waterfront locations. The agency also advised on the acquisition of an ultra-luxury villa at Signature Mansions on Palm Jumeirah for AED 41.9 million. It also shows that buyers remain willing to commit to exceptional homes that combine scale, privacy, and long-term value.

Abu Dhabi’s branded focus

In Abu Dhabi, the structure is more concentrated and largely driven by off-plan activity, with demand centred on Yas Island and particularly on branded projects. Activity there is more heavily weighted toward villas and larger units, alongside select two- and three-bedroom apartments, with most deals falling between AED 3 million and AED 7 million.

Whitewill completed multiple placements at Manchester City Yas Residences by Ohana in Abu Dhabi with a combined value exceeding AED 30 million, reflecting the more concentrated structure of the capital’s market, where activity is centred on the primary segment and focused on villas, larger units, and concept-driven developments on Yas Island. The project itself recorded over $1.6 billion in sales within 72 hours, making it one of the fastest-selling launches in the emirate’s history, while Whitewill secured over $8.7 million in activity within the first days of sales, including multiple off-plan villas. This level of interest highlights the continued appeal of projects that combine strong legal protections, clearly defined delivery structures, and internationally recognised branding.

Stable outlook for 2026

This momentum is driven by experienced, financially stable buyers with a more analytical and long-term approach to real estate investment. The most active segments include investors focused on capital preservation and stable returns, end-users and residents purchasing for lifestyle and relocation, and opportunistic buyers targeting discounted secondary assets in Dubai. Whitewill is also seeing strong interest from European, Indian, and Asian buyers, alongside UAE-based expat professionals in finance and healthcare purchasing for personal use or long-term investment. Compared with previous periods, buyers are paying closer attention to legal protection mechanisms, developer reliability, contract structure, and the long-term value of the asset.

In the near term, Whitewill expects market conditions across both emirates to remain stable, with pricing holding firms in the primary market and buyer activity continuing to centre on quality assets, established locations, and credible developers. The agency maintains a steady deal flow by supporting clients through every stage of the process with a focus on value protection and long-term returns.

Dubai Multi Commodities Centre (DMCC) has announced that Ellington Properties will launch a flagship integrated sales centre at The Atrium within Uptown Dubai. This announcement further strengthens the district’s appeal as a connected lifestyle destination for residents, visitors and investors.

The milestone was marked by a formal signing ceremony led by Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer at DMCC and Joseph Thomas, Co-Founder at Ellington Properties, alongside Paul Ashton, Chief Property Officer at DMCC and Elie Naaman, Co-Founder and CEO at Ellington Properties, underscoring a shared vision to create elevated, customer-focused experiences within Dubai’s evolving real estate landscape.

Spanning over 16,000 square feet, the new facility is curated as an immersive and welcoming visitor environment designed to enhance the customer journey through three interconnected components:

• Experience Centre – an interactive brand environment featuring curated displays and multimedia elements that bring developments to life
• Sales Centre – a client engagement hub for consultations, project presentations and personalised discussions
• Office Space – supporting operational and administrative functions
• Show Units – two fully designed residences offering a tangible experience of Ellington’s design, layouts and materiality

Together, the four components create a seamless ecosystem for meaningful client engagement within a vibrant lifestyle setting.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “The launch of Ellington Properties’ integrated sales centre at Uptown Dubai marks another important milestone in the district’s ongoing development. Spanning 16,000 square feet at The Atrium, this flagship facility strengthens Uptown’s position as a destination of choice for leading real estate and customer-facing businesses seeking visibility and a high-quality environment in which to engage with clients. Uptown Dubai is designed to bring together commercial, residential, and lifestyle elements within a single, integrated district. As we continue to expand the offering across office space, retail, hospitality, and the public realm, we are creating a destination that supports business growth while enhancing Dubai’s broader value proposition as a global investment hub.”

Joseph Thomas, Co-Founder, Ellington Properties, added: “Uptown Dubai offers the energy and connectivity that aligns with how we want people to experience our brand. As a growing hub that brings together retail, dining and lifestyle experiences, it provides the right setting for what we’re creating. This new centre goes beyond a traditional sales environment; it’s a space where people can truly understand how we design, how we think, and how our communities come to life. We wanted to create an experience that allows visitors to engage with our developments in a more intuitive, human way, where projects are not just presented but genuinely experienced.”

Strategically located within Uptown Dubai, The Atrium is emerging as a central lifestyle hub designed to bring together retail, dining and visitor experiences within a contemporary urban setting.

This latest milestone reinforces Uptown Dubai’s continued evolution as a vibrant, integrated destination, becoming a natural choice for customer-facing businesses seeking strong footfall and easy accessibility.

Abu Dhabi real estate market’s current trends indicate a preference for completed, income-generating assets over more speculative opportunities, says a new report.

Investors placing greater weight on asset quality, risk management, and income visibility this year, said a report based on data from Driven | Forbes Global Properties, a leader in the UAE’s luxury real estate market.

Increased activity in ready properties through 2025 had already signaled this direction, and a tightening supply pipeline, combined with sustained demand in established communities, is expected to support continued price stability and reinforce this shift towards fundamentals-led investment, it said.

The company released the report, marking the official opening of its new Abu Dhabi headquarters.

The data from its Abu Dhabi 2025 report and Q1 2026 observations, said in 2025, total real estate transactions reached AED94 billion in the first nine months, with volumes increasing 48 percent year-on-year. Foreign direct investment by individuals totaled AED6.2 billion over the same period, with capital inflows from 97 nationalities.

Residential prices grew approximately 52 percent in off-plan properties and 39 percent in ready units between 2021 and 2025, while gross rental yields reached 7.4 percent.

Early 2026 activity suggests the market is building on that base but shifting in character.

Commenting on the data, Abdullah Alajaji, CEO of Driven Properties, said: “The 2025 data reflects the strength of the market, and our decision to establish a dedicated presence in Abu Dhabi aligns with that momentum. What we’re seeing in early 2026 is capital becoming more selective, with investors prioritizing assets that deliver visible income and long-term value. This points to a more mature and disciplined market environment, which Abu Dhabi is well positioned to support.”

Abdallah Alhusari, Director of Abu Dhabi Branch at Driven Properties, commented: “The opening of our new office reflects our strategic commitment to Abu Dhabi and its long-term growth trajectory. The capital is attracting a high-quality investor base that values stability, strong planning, and sustainable growth, and having a dedicated presence on the ground allows us to serve that demand more closely while contributing to the next phase of Abu Dhabi’s real estate story.”

In expanding to Abu Dhabi with a new branch, Driven Properties reflects its broader strategy of deepening its footprint in key growth markets across the UAE while continuing to strengthen its advisory capabilities for investors, developers, and end users.

The company’s findings were presented during a market briefing by Abdullah Alajaji, CEO of Driven Properties, Abdallah Alhusari, Director of Abu Dhabi Branch at Driven Properties, and Omar Shehata, Head of Broker Management at Aldar. The session was attended by media, industry stakeholders and distinguished guests.

betterhomes says recent regional developments are impacting sentiment rather than fundamentals in the UAE property market, with activity slowing but underlying demand remaining intact.

Speaking during a market update webinar hosted last week, betterhomes’ leadership team, including its CEO, Head of Off-Plan and Capital markets, and Head of Leasing, said recent geopolitical events should be understood as a short-term pause in decision-making rather than a structural shift in the market.

The disruption has slowed decision-making, but not derailed the UAE property market, with off-plan continuing to drive activity, leasing demand beginning to stabilize, and buyers becoming more selective.

While transaction volumes softened in March, this was attributed to a combination of geopolitical and short-term factors, including Ramadan, Eid, school holidays and recent weather-related disruptions, rather than a deeper change in market direction. Daily life and business activity in Dubai remain largely unaffected, with the market response described as measured rather than disruptive.

Off-plan continues to underpin market activity, accounting for approximately 70 per cent of total transactions over the past 12 months. The segment remains aligned with Dubai’s long-term growth agenda, with buyers continuing to favor newer developments, stronger locations and higher-quality product.

Across the market, buyer behavior is becoming more selective, with increased focus on value, positioning and long-term potential. Asking prices have adjusted by approximately 13 per cent, reflecting a market correction following a sustained period of growth rather than signs of distress.

In the leasing market, enquiries declined by around 40 per cent in early March before showing signs of stabilization, indicating a short-term pause rather than a sustained drop in demand. At the same time, an increase in accidental landlords has added supply, contributing to a more competitive rental environment.

betterhomes said the current phase reinforces the importance of strategy, pricing discipline and professional guidance, particularly as the market transitions into a more considered and selective cycle.

The message from the webinar was clear: uncertainty has reshaped behavior, not demand, placing greater emphasis on informed decision-making and realistic expectations.

Residential property sales in Jeddah set a new annual record, with 30,500 transactions collectively worth SAR36.6 billion (US$9.75 billion) in 2025, says real estate advisory and property consultancy, Cavendish Maxwell. 

Total sales values rose by almost 15.4% year-on-year in Jeddah, where the average transaction reached SAR1.2 million (US$320,000), according to Cavendish Maxwell’s 2025 KSA Residential Real Estate performance report. 

Dammam – the rapidly emerging property hotspot in KSA’s Eastern Province – secured sales worth SAR10.7 billion (US$2.85 billion) across 9,500 transactions last year – an increase of almost 30% in values and 19% in volumes. 

In Riyadh, buyers purchased 56,600 residential units in 2025, with a total sales value of SAR96.2 billion (US$25.65 billion). While Riyadh’s average transaction value reached a new high of SAR1.7 million (US$450,000), sales declined 31% compared to 2024. 

Siraj Ahmed, Director, Head of Strategy & Consulting at Cavendish Maxwell, said: “KSA’s three major residential markets – Riyadh, Jeddah and Dammam – delivered contrasting performances in 2025. Jeddah showed resilience with its highest sales volumes for several years and is expected to maintain stable growth in the future. Dammam, where property is more affordable compared to other cities, was the standout performer and is poised for sustained growth supported by competitive pricing and robust economic activity in the region.

“In Riyadh, affordability constraints and elevated financing costs led to a decline in purchasing power and buyer activity. Although transactions were down year-on-year, population growth, urbanization and housing initiatives should support long-term market demand. We expect a recalibration of the market as new supply, the 5-year rent freeze and White Land Tax reforms make property more competitively priced and lead to a recovery in market activity.

“External factors including oil market volatility and geopolitical tensions of course warrant close monitoring, but Saudi’s residential market remains well positioned, supported by strong demographic drivers, ongoing infrastructure investment and a continued commitment to Vision 2030.”

Inventory and future supply

Riyadh’s residential supply continued to expand last year, when 13,000 new units came to the market bringing the total inventory to 1.93 million. Around 63,000 homes are scheduled for completion in 2026 and 2027, but actual deliveries could be lower, as was the case in 2025. 

“The expansion in supply is further supported by the recent rise in White Land Tax, which encourages landowners to develop empty plots of land and accelerate delivery timelines,” said Ahmed. “The full impact of this reform will likely materialize through this year and beyond, with the gap between demand and supply gradually narrowing, in turn easing price pressure and enhancing affordability.” 

Jeddah’s residential property inventory is now just under 1.1 million, after the completion of 4,000 units last year. The city has a pipeline of 18,000 new units this year and another 22,000 in 2027, by which time total residential stock is projected to reach 1.14 million. However, as seen in Riyadh, actual completions may fall short of original forecasts. 

Dammam delivered 500 units last year, bringing its total to 430,000. Around 15,000 new homes are expected by the end of 2027. The city’s residential sector is expected to become even more competitive, giving buyers more choice and better bargaining power

Sales prices and rental rates

Property prices in Riyadh rose last year, with apartments reaching SAR6,245 (US$1,713) per square meter and villas SAR5,640 (US$1,500), an increase of 6.6% and 9.7% respectively. There were similar hikes in the rental market, with apartments up just over 10% and villas 9.6%. The 5-year rent freeze, introduced last September to address affordability concerns, led to early signs of rent moderation in Q4. 

In Jeddah, apartment prices increased by 1.2% to SAR4,385 (US$1,170) per sqm, with villas up 3.2% to SAR5,185 (US$1,382). The rental market saw a mixed performance: the average cost of leasing an apartment jumped 4.7%, while villa rents were down by 0.7%. 

Over in Dammam, apartment prices rose 5.2% compared to 2024 with villas up 2.8%. Apartment rents were up 4.1% and villas 2.1%. 

Saudi Arabia’s new foreign ownership law

KSA’s new foreign ownership law, introduced in January, allows non-Saudi individuals and companies to invest in Saudi real estate.

The changes represent a strategic recalibration of KSA’s approach to foreign investment. By clearly defining who can buy, where, and under what conditions, KSA has transformed its real estate market from a restricted asset class into a legitimate investment destination.

Historically, non-Saudi residents could buy property under a restrictive framework, typically limited to one residential unit and subject to regulatory approval. Now, non-Saudi residents, non-residents, and premium residency holders can acquire property within designated zones. Outside these areas, ownership is limited to residents, who are generally allowed one property for personal use. In Makkah and Madinah, ownership remains tightly controlled and largely limited to Muslims under specific conditions, in line with religious and regulatory considerations.

Saudi companies with foreign shareholders can own real estate, but their eligibility is governed by regulations aligned with the Capital Market Authority, meaning listed companies can participate subject to compliance. Unlisted Saudi companies generally have more flexibility, including acquiring real estate for operational needs such as staff housing or business activities.

A wraparound multi-level pool with ocean views is the star of a stone Tuscan-style mansion in Newport Coast, California, that just sold for $30 million.

Not that the property itself is anything but spectacular. The rugged 13,206-square-foot mansion stands on a half-acre lot on Pelican Point Drive, featuring stone arched loggia, brick-laid barrel ceilings, a glass-walled breakfast room, a theater room with hand-painted murals and a cavernous lounge lit by the blue waters of the lower pool outside, according to a video listing of the property.

Dubai Investments breaks ground on Al Vista, its landmark mixed‑use development in Meydan Horizon.

Developed through its wholly‑owned real estate subsidiary, Dubai Investment Real Estate (DIR), Al Vista is a large‑scale mixed‑use development comprising residential, commercial and retail components within a unified masterplan.

The ground‑breaking ceremony was held in the presence of Khalid bin Kalban, Vice Chairman and CEO, Dubai Investments, Obaid Salami, General Manager, Dubai Investment Real Estate along with other senior representatives and the contractor for the project.

As part of the milestone, DIR also signed the main construction contract with JV Hourie Paramount appointing the contractor to deliver the project in line with the approved execution plan.

Commenting on the ground-breaking, Obaid Salami, General Manager of Dubai Investment Real Estate, said: “Al Vista represents an important addition to DIR’s portfolio and reflects a disciplined approach to development, anchored in quality, execution certainty and long‑term value creation. With main construction now underway, DIR is committed to delivering well‑planned, high‑quality developments in key growth locations across Dubai, positioning Al Vista to emerge as a defining mixed‑use destination upon completion.”

Located within Meydan Horizon, one of Dubai’s most sought‑after mixed‑use districts, Al Vista comprises a 39‑storey residential tower featuring 312 apartments, including one‑, two‑ and three‑bedroom units, alongside a 19‑storey commercial tower offering approximately 120,000 sq. ft. of shell‑and‑core office space, complemented by integrated retail components. The development is designed to support a connected urban environment, with a comprehensive range of lifestyle and recreational amenities serving both residents and commercial occupiers.

Construction is advancing as scheduled, with planned completion targeted for Q1 2028.

Alta Real Estate Development, a boutique Emirati developer shaping Dubai’s evolving skyline through a portfolio of distinctive residential projects, confirmed that construction activity continues across Alta’s portfolio, reflecting continued confidence in Dubai’s long-term growth trajectory.

The update comes as Dubai’s real estate sector continues to demonstrate resilience despite heightened regional attention in recent weeks. Dubai recorded more than $250 billion in real estate transactions in 2025, reinforcing the sector’s role as a key pillar of the emirate’s economy.

Market activity remains steady across the city, with buyer enquiries, property viewings and transactions continuing despite global uncertainty. Industry activity continues to be supported by strong population growth, long-term infrastructure investment and the strategic vision outlined in the Dubai Urban Master Plan 2040, which continues to shape the city’s development and global competitiveness.

Dubai’s real estate market has historically demonstrated an ability to navigate economic cycles, recovering from previous periods of volatility while continuing to attract international capital and long-term global interest.

Giuseppe Noto, Chief Executive Officer of Alta Real Estate Development, said: “Dubai has firmly established itself as a global hub for business and investment, and that position continues to support strong fundamentals in the real estate market.  In our conversations with international owner-occupiers and long-term market participants, the city consistently stands out for its connectivity, regulatory stability, and long-term vision. That confidence is reflected not only in sustained market demand, but also in the pace at which development across the city continues to move forward.”

Alta affirmed ongoing construction across its projects, reflecting the strength, resilience, and long-term vision underpinning Dubai’s continued growth.

Mohammad Al Tayer, Deputy Managing Director at Alta Real Estate Development, added: “Dubai has always been built with long-term vision. Those of us who have grown with the city understand the strength of its foundations and the resilience that continues to shape its growth. That resilience is reflected in the continued momentum we see across the real estate market and in our commitment to keep building for the future.”

Alta Real Estate Development’s leadership is available to provide further commentary on Dubai’s real estate market, investor sentiment, and the city’s long-term development outlook.

Emaar Properties PJSC (DFM: EMAAR) today held its Annual General Meeting (AGM), where the Board of Directors reviewed the company’s financial performance for 2025 and outlined its strategic priorities for the period ahead.

During the AGM, shareholders approved a 100% dividend payout, amounting to AED 8.8 billion (US$ 2.4 billion), reflecting the company’s commitment to delivering sustained value to its shareholders and in line with the dividend policy announced in December 2024. The meeting also included the approval of the auditor’s report for 2025, together with the Board’s report on the company’s activities and financial position.

Emaar’s financial results for 2025 highlighted another year of strong operational momentum and growth across its key business segments. The company recorded its highest-ever property sales of AED 80.4 billion (US$ 21.9 billion), representing a 16% increase compared to 2024. Emaar’s revenue backlog from property sales reached AED 155 billion (US$ 42.1 billion), providing strong visibility for future revenue recognition.

Total revenue for 2025 reached AED 49.6 billion (US$ 13.5 billion), reflecting a 40% year-on-year increase, while EBITDA grew by 33% to reach AED 25.6 billion (US$ 7 billion). Net profit before tax reached AED 25.7 billion (US$ 7 billion), marking a growth of 36% compared to the last year.

Emaar’s diversified portfolio continued to drive performance across its core businesses, including property development, malls, hospitality, leisure, and international markets. The company remains focused on delivering its projects as scheduled while maintaining a strong emphasis on quality, customer experience, operational excellence, and long-term sustainable growth.

Mohamed Alabbar, Founder of Emaar, said: “Our 2025 performance reflects the strength of the UAE’s leadership and the clear vision that continues to shape Dubai as one of the world’s most dynamic and trusted destinations for investment and growth. This environment enables companies like Emaar to plan with confidence, innovate, and deliver long-term value. I would also like to recognize the dedication of our teams whose commitment to quality and execution continues to drive our success.”

Looking ahead to 2026, Emaar will continue to introduce new developments and lifestyle destinations while further enhancing its operational capabilities and expanding its footprint across key markets.

S&P Global expects no liquidity pressures on four of its rated developers amid the US-Israel and Iraq war.

The companies rated include Dubai-listed Emaar Properties, PNC Investments, Omniyat Holdings and Damac Real Estate Development.

Developers were active in the sukuk and debt capital markets to raise funds to finance land acquisitions in 2025-2026, the rating agency said in a new report.

Damac and Omniyat each issued $600 million sukuk in February and March 2026, respectively, while PNC Investments and Omniyat issued $1.25 billion and $900 million, respectively, in 2025.

“Debt maturities remain quite manageable in 2026 for the companies without the need to raise new funding,” S&P stated.

Capital expenditure (capex) needs for pure developers are limited, while investments in small community projects are expected to generate recurring revenue.

“Damac, Omniyat and PNC investments are negligible over our forecast horizon (2024-2027),” the report added.

However, Emaar has sizable, planned annual capex plans of AED10-11 billion ($2.72-3 billion) in 2026-27, much of which is earmarked for Dubai Creek Mall, the Dubai Creek Tower, the development of residential units for leasing and investments in mall assets, especially the expansion of Dubai Mall.

“We think a significant portion of the company’s investment remains flexible as some projects can still be delayed, if needed,” the report said.

Although it is still early to draw definitive conclusions, S&P expects investment decisions to be recalibrated or postponed for all developers.

Commitments for assets nearing completion are likely to proceed, but companies with flexibility will prioritise liquidity and cash flow over new
investments and land purchases, the report said.

Artificial intelligence is opening new avenues of information to home buyers, sellers, and renters. It’s changing the way people shop for real estate—for better or worse.

After 30 years of living in Manhattan, event designer Michelle Rago decided to look beyond the city for a house, ultimately settling on Lambertville, the leafy New Jersey town where she spent part of her youth.

“I was touring the house across the street when my current home popped up on the MLS. My realtor looked at me and said, ‘Michelle, turn around…this house is now available and it’s fabulous,’” she recalled. “I literally jumped up and down, got tears in my eyes and we ran across the street. It was love at first sight. I made an offer the next day and the rest is history.”

Designed entirely around entertaining, flow and light, the house was expanded with a new formal dining room, grand entry foyer, powder room, service spaces, back porch, river-facing balcony, scullery and wine room. The staircase was re-engineered to create vertical drama, and the entire first floor was rebuilt post-lift to improve circulation. Outside, the grounds were reimagined into a park-like setting for gatherings, with a freestanding garage transformed into a late-night dance shack, a wink to Rago’s party-loving spirit.

Throughout construction, measures were taken to protect both the legacy and the landscape, including the preservation of a 150-year-old tree and the decision to return part of the property back to public use for the towpath.

“There was very little about doing a gut renovation of a 100-year-old property that could have been anticipated. The original construction and additions over the years were reflective of the times but certainly didn’t meet the state building codes of today or address the challenges of climate change. But its history is its heart, and makes every challenge worth it,” Rago said. “I am fascinated by the fact that George Washington and his troops were loitering on my stoop. I feel as if I have been entrusted with that history and that informed many of my choices.”

Mansion Global caught up with Rago, 61, who shared a more in-depth look at the renovation.

The one tip I’d offer to someone undertaking a renovation is… it is essential to stay true to what your passions are and ignore trends. Be true to what you enjoy and how you spend your time. Don’t worry if white marble is the “suggested” material for an island or if televisions are expected to be installed everywhere. Design a home and experience that is a reflection of how you spend your time.

The biggest challenge I faced during the renovation was… I did this project on my own so the biggest challenge was trusting my gut and teaching myself about the process. Navigating state codes and the reason something may not be possible takes patience and creativity.

My favorite room after the renovation is… when push comes to shove, my bedroom and bath are my sanctuary. There is nothing more indulgent than waking up on my meticulously designed bespoke bed and being surrounded by the art I have curated while the fire is cracking to my favorite music, cup of tea in hand.

The most dramatic change is… the six-foot addition that runs the length of the house to accommodate a foyer powder room, formal dining room, scullery and elevator.

The one expense I didn’t expect was… When the house was lifted I did not anticipate that the original brick and mortar on the first floor would be compromised. It was immediately apparent that the entire first floor would need to be rebuilt. Although overwhelming at the time, it did create the opportunity for me to rethink the footprint of the first floor.

I decided to renovate instead of buying a different/turnkey house because… it’s not possible for me to accept things as they are. A spec house would honestly be my worst nightmare.

The renovation ended up costing… the purchase of the Sears and Roebuck home was $825,000, and to lift it was another $100,000.

Saudi-based Dar Al Majed Real Estate Company has announced that it has signed an addendum to the credit facilities agreement previously concluded with Banque Saudi Fransi (BSF).

The addendum includes increasing the credit limit of the facilities granted to the company from SAR550 million ($146.4 million) to SAR684.5 million ($182.2 million).

This funding will be mainly used for Dar Al Majed’s expansion plans as well as development of its real estate projects, said the company in its filing to Saudi bourse Tadawul.

The amended financing will run until December 31, 2028, it stated.

The original facilities agreement with Banque Saudi Fransi was signed in November 2023, and disclosed in the company’s prospectus, said the statement.

The new addendum extends that agreement and sets a credit ceiling for project funding, it added.

Access Consult, a Dubai-based architectural and engineering consultancy, is marking a new phase of growth after delivering more than 800 projects across the UAE over the past 27 years. The firm has evolved into a full-service design and engineering consultancy supporting developers and public sector clients with end-to-end delivery, from concept design and authority approvals through to construction supervision and handover.

Access Consult provides fully integrated architectural, structural, MEP, interior design, quantity surveying, project management, and supervision services, all delivered through in-house teams. This one-stop model allows the company to manage projects from A to Z while maintaining direct control over quality, timelines, and regulatory compliance. With a strong footprint across the UAE and a focus on Dubai,  Access Consult has signed 10 new projects, completed three major developments, and grown its team by approximately 30 to 35% in the past year alone. This momentum supports the nation’s We the UAE 2031 vision for future-ready development, as 400,000+ units are under construction or planned for the next four years in Dubai alone.

The company’s portfolio features developers across residential, commercial, retail, healthcare, and mixed-use projects, serving private and public sectors. The firm works closely with government stakeholders, including Dubai Municipality and Dubai Electricity and Water Authority. Landmark developments across Dubai include the Edition Hotel Dubai, DSO Radison Blu Hotel, ALTA Tower, Guzel Towers, the Famous Marina Mosque and many more. Access Consult also supports major organisations such as National Bonds and regional developers across residential and commercial real estate, while also working on selected international projects across the EMEA region.

Arch. Mohamed Salah Seguen, CEO at Access Consult member of Excellence Consortium, said: “At Access Consult, we are very deliberate about how we grow. As a mid-sized consultancy, every project and every client relationship matters. Our focus is to deliver quality design, practical engineering, and dependable supervision from the first concept through to handover. Clients choose Access Consult for our fully in-house delivery, strong regulatory expertise, and speed without compromising standards. Looking ahead, our vision is to strengthen our position as a trusted UAE consultancy while expanding our capabilities to support more complex, design-led developments across the region.”

A core differentiator for Access Consult is its fully digital approach to design coordination and project delivery. By managing architectural and engineering workflows through integrated digital systems and overlapping design phases, the company typically reduces design and approval timelines by 30 to 50%. During construction, its structured supervision processes and on-site engineering teams help shorten delivery schedules by a further 20 to 30%, depending on project scope and contractor performance. This approach is reinforced by Access Consult’s position within a wider group of specialist companies, giving clients access to additional expertise across project management, façade engineering, and technical consultancy when required.

Building on nearly three decades of operation in the UAE, Access Consult continues to position itself as a trusted partner for developers seeking streamlined project delivery, regulatory expertise, and integrated design services under one roof. Looking ahead, Access Consult is prioritising continued investment in digital delivery processes while strengthening its presence across high-growth residential and commercial developments. Longer term, the company will broaden its business model to include project development and management services, building on its technical foundation and market experience.

With more than 800 projects completed and a growing multidisciplinary team, the firm remains focused on shaping practical, high-quality built environments that support the region’s evolving development landscape.