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
This collaboration heralds a new era of luxury living, seamlessly integrating high-fashion aesthetics with unparalleled lifestyle experiences
2 min
In an exciting new chapter, UAE-based Mira Developments and the ARAV Group, the driving force behind the high-fashion brand John Richmond, are thrilled to announce an exclusive global partnership.
This collaboration heralds a new era of luxury living, seamlessly integrating high-fashion aesthetics with unparalleled lifestyle experiences. The partnership will bring John Richmond’s bold and edgy ethos to life through fully furnished residences, five-star hotels, and elegant cafes.
The first projects will grace prime destinations across the UAE, such as Dubai, Abu Dhabi, and Ras Al Khaimah.
THREE CITIES – ONE VISION OF STYLE AND SOPHISTICATION
Each development will combine John Richmond’s distinctive design philosophy with Mira Developments’ expertise in delivering fully furnished luxury homes, exceptional hotel-style services, and thoughtfully designed community spaces.
Every John Richmond-branded property will embody the brand’s globally celebrated aesthetic, inspired by the rebellious energy of rock ‘n’ roll and a profound exploration of street culture. These residences will showcase bold designs, premium materials, and innovative details that define the brand’s signature style.
Art installations and upscale furnishings, developed in collaboration with FormItalia Luxury Group, will further enhance the environment, seamlessly blending fashion and interior design.
John Richmond commented: “When I was sixteen, I was accepted at Manchester University to study architecture. At the last minute, I changed my mind and went to London to study fashion. I never lost my love of architecture, and to be involved in this venture is like all my dreams come true.”
“We are thrilled to bring John Richmond’s distinctive aesthetic to the world of luxury living,” said Mena Marano, CEO of ARAV Group and proprietor of the brand. “This partnership marks an exciting milestone, showcasing how fashion and lifestyle can converge to redefine sophistication.”
Tamara Getigezheva, Co-founder of Mira Group, stated: “Mira Developments is delighted to partner with John Richmond and the ARAV Group, bringing the brand’s distinctive fashion-forward vision to our luxury properties. Together, we will create spaces that seamlessly blend rebellious energy with refined elegance and exceptional craftsmanship.”
PROPERTIES SET TO STUN
With new properties in Dubai, Abu Dhabi and Ras Al Khaimah, Mira Developments continues to redefine luxury living with its unique approach to fully furnished branded properties and premium services like complimentary valet parking and free housekeeping.
Stay tuned for the unveiling of these prestigious developments, which will set a new standard for branded lifestyle offerings in the region.
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
Naya at District One prioritizes the well-being of residents with a wealth of amenities
2 min
Meydan, a member of Dubai Holding Real Estate, has awarded an AED 529 million contract to Bhatia General Contracting Co. (L.L.C) for the construction of Naya at District One. Nestled in the prestigious Mohammed Bin Rashid Al Maktoum City, this resort-inspired residential development combines tranquil lagoon-side living with sophisticated design and curated amenities.
Naya at District One comprises three green-roof residential towers featuring 456 spacious one-, two, three-, and four-bedroom apartments and lagoon villas. Bhatia General Contracting Co. (L.L.C), an award-winning independent contracting and construction company with over four decades of experience in the region, will undertake the construction of Tower 1 (G+20), Tower 2 (G+12), and Tower 3 (G+16), along with amenities. The project is scheduled to be completed by Q3 2027.
Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said: “With its sophisticated design and curated amenities, Naya at District One sets a new standard for master-planned residential developments in the UAE. Here, residents can connect with nature, enjoy resort-style amenities and experience the very best of upscale living. We are pleased to partner with an experienced company like Bhatia General Contracting Co. on this project to turn our vision for Naya into reality and further enrich Dubai’s vibrant real estate landscape.”
Ajay Bhatia, Chairman, Bhatia General Contracting Co. (L.L.C), said: “We are honored to work with Dubai Holding Real Estate for the construction of Naya at District One and bring our expertise and innovation to a project that epitomizes luxury and precision. Our decades of experience and unwavering commitment to quality will ensure timely delivery of this exceptional development, reflecting our shared vision for excellence.”
Naya at District One prioritizes the well-being of residents with a wealth of amenities, including a state-of-the-art gym, sports courts, sprawling green spaces and a rooftop lounge. Families can enjoy dedicated children’s play areas and pools. Direct access to the 35-hectare Crystal Lagoon and its beaches offers endless opportunities for kayaking, paddle boarding and other water sports. Located in District One, Naya is just 4 kilometers from the heart of Downtown Dubai, 10 minutes from Meydan Racecourse, and 20 minutes from Dubai International Airport.
Located in one of Dubai’s most prestigious areas, District One is a master-planned community that seamlessly blends luxury and nature. District One is designed for indoor-outdoor living, with 60% of the area dedicated to open green spaces, it offers over 8 kilometers of cycling and running tracks as well as 14 kilometers of pristine shoreline living, redefining modern indoor-outdoor lifestyles.
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.
The company aims to design spaces for a community of creatives and ambitious individuals
2 min
Kleek Developments launched its operations in Egypt’s real estate market, leveraging over 20 years of accumulated experience and ambitious investment plans. The company is set to unveil its first real estate project soon, which promises to be exceptional and distinguished in east Cairo.
Walid Soliman, Chief Commercial Officer of Kleek Developments, stated that the company is built on solid expertise stemming from a partnership between Emaar El Delta for Real Estate Investment and Style Home Development. Both companies are shareholders in Kleek Developments and bring decades of experience in construction and real estate development in the Egyptian market.
Soliman said that Kleek Developments is launching with a robust and ambitious action plan aimed at leveraging its accumulated expertise and leaving a distinctive real estate mark in the Egyptian market.
He disclosed that the company will soon announce its first project, which will be located in a prime area and feature innovative investment activities that align with the needs of target customers. It will reflect the creativity, innovation, and quality that Kleek Developments is known for.
He added, “Experience is the driving force behind Kleek Developments. Our extensive experience allows us to truly understand the needs of our customers and transform them into sustainable projects. We specialize in maximizing space to create natural environments that embody the essence of our communities. Our aim is not merely to construct conventional properties, but to craft distinctive communities that blend innovation with environmental harmony, providing inspiring living spaces that nurture creativity, ambition, and connection. These spaces will enable individuals, families, and businesses to thrive together.”
He pointed out that the company aims to design spaces for a community of creatives and ambitious individuals, making choosing Kleek Developments not just about selecting a home or workplace, but a step closer to living in communities that inspire life. The company’s goal is not only to build structures but to create a lifestyle within them.
He concluded that the company has a strong expansion plan aimed at achieving significant diversity in its investment portfolio, meeting the expectations of clients seeking excellence in various new areas and cities. These clients are looking for projects that combine luxury and practicality, providing promising investment opportunities and a range of options that cater to different customer needs.
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.
The strategic collaboration will offer financial engineering solutions to the Real Estate sector and introduce advanced tokenization solutions
2 min
Scintilla, a leading institutional-grade tokenization platform, and Verseprop, a digital platform specializing in tokenized real estate equity and debt, are reshaping the real estate investment landscape. The strategic collaboration will offer financial engineering solutions to the Real Estate sector and introduce advanced tokenization solutions that bring greater efficiency, transparency, and inclusivity to the market, alongside cost savings and distribution.
Verseprop, founded in 2021 by a former senior executive from CBRE and Savills, is a Financial Conduct Authority (FCA) Appointed Representative, headquartered in London, specializing in real estate debt and equity. Its current focus is short-duration, first and second-charge UK real estate debt, which grants strong investor protections at viable yields and is asset backed. Scintilla, licensed by Dubai’s Virtual Asset Regulatory Authority (VARA), brings a powerful tokenization engine and its broker/dealer license and services to the table, solidifying its reputation as a leader in digital asset innovation.
Verseprop, backed by some of the UK’s most influential real estate investors, provides access to opportunities across real estate debt and equity, utilizing its platform to list tokenized assets which digitizes the entire transaction process. It provides real estate owners access to state-of-the-art financial and tokenization services that also streamline the process for raising capital for equity, debt or a hybrid mix. Scintilla will deliver the core tokenization technology and broker/dealer services necessary to facilitate the distribution of these digital tokens in the UAE. For investors, this collaboration unlocks access to diversified real estate opportunities while enjoying the efficiency and lower costs provided by blockchain technology.
The strategic collaboration will look to redefine real estate financing and distribution models with a compliance-first approach aligned to global regulatory standards. The collaboration aims to deliver value for both asset owners and investors. In a recent transaction in London, Verseprop was able to demonstrate a 50% cost saving vs traditional businesses.
The UK and UAE Bridge
The collaboration between Scintilla and Verseprop bridges two dynamic markets: the United Kingdom and the United Arab Emirates. Leveraging the UK’s established, and highly sought after, trillion-dollar commercial real estate sector alongside Dubai’s pioneering approach to blockchain and digital assets, the partnership offers a unique synergy.
“Scintilla is delighted to join forces with Verseprop to redefine how real estate assets are tokenized and traded,” said Tim Popplewell, founder and CEO of Scintilla. “This collaboration marks a significant step in our journey to bring institutional-grade solutions to the digital asset space, opening up new avenues for investors and developers alike.”
“Verseprop is not just tokenizing real estate equity and debt; we are fundamentally reshaping how people access real estate and how asset owners think about distribution,” said Joel Coren, CEO of Verseprop. “Our platform offers a seamless, transparent, and digital way for investors to access high-quality real estate opportunities that were previously out of reach, and asset owners to reach them.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
The emphasis is on creating spaces that embrace natural light and take advantage of the scenic vistas to offer residents a sanctuary of tranquility and exclusivity
4 min
Nakheel, a member of Dubai Holding Real Estate, has announced its collaboration with six locally and globally acclaimed architecture firms – WATG, SAOTA, Whitespace Architects, NAGA Architects, LOCI, and LW Design Group – to deliver a stunning 10 distinct architectural styles for the bespoke villas planned for the Beach Collection at Palm Jebel Ali.
Inspired by the island’s unique blend of oceanfront serenity, vibrant cityscape, and the colors and forms defining its landscape, the architects have crafted an exclusive collection of 10 homes that celebrates the iconic destination’s natural beauty and urban dynamism, delivering a collection of residences that seamlessly integrate indoor-outdoor living and infuse luxury into everyday living. From minimalist elegance to bold contemporary statements, the emphasis is on creating spaces that embrace natural light and take advantage of the scenic vistas to offer residents a sanctuary of tranquility and exclusivity, aligned with Nakheel’s vision for Palm Jebel Ali.
Situated on prime beachfront locations, the five- and six-bedroom villas from the Beach Collection range from 7,300 sq ft to 8,500 sq ft, offering unparalleled privacy and exclusivity. Each villa boasts a unique and contemporary façade, meticulously designed to complement the coastal setting. Grand entryways with double-height volumes lead to expansive living spaces, where floor-to-ceiling windows showcase captivating views of the Arabian Gulf.
Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said: “With its breathtaking oceanfront views and ambitious vision, Palm Jebel Ali has inspired some of the world’s leading architectural minds to design bespoke masterpieces for The Beach Collection. These unique villas embody luxury, sophisticated design and a seamless connection with nature, a testament to the success of our collaboration, showcasing the individual brilliance of each architect while capturing the essence of this extraordinary destination. This collaboration brings to life our vision for exceptional homes that cater to inspired tastes and lifestyles.”
The inspiration behind The Beach Collection
US-based global design firm WATG’s Baia Luna and Crystal Springs villas in Palm Jebel Ali embody three distinct philosophies – ‘Minimal’, defined by purity of form and simplicity with clean lines and open spaces; ‘Elegant’, balancing classic beauty and modernity; and ‘Dynamic’, with fluid architectural lines and daring structural expressions. Set on the family-friendly fronds, these five- bedroom residences effortlessly reimagine a luxury lifestyle for its discerning occupants.
The design inspiration for South Africa’s SAOTA and their Ocean Whisper and Bluejay villas respond to Palm Jebel Ali’s unique location at the intersection of the ocean, the metropolis of Dubai, and the desert landscapes. This is reflected in the use of subtle curves mimicking the form of the waves; a material palette of light plasters, soothing beige tones, and warm metals; and a contemporary and modern design approach aligned with Dubai’s future.
With open spaces, sustainable materials, and energy-efficient elements, Indigo Ocean residences reflect a seamless connection between architecture and nature. Designed by Whitespace Architects (WSA), an award-winning international, home-grown firm headquartered in Dubai, these villas embody a thoughtful balance of artistry and functionality. The design draws inspiration from Palm Jebel Ali’s unique landscape, harmonizing contemporary luxury with the surrounding environment.
Ranked in 2022 as one of the Top 10 Designers and Architects in the MENA region, NAGA Architects has designed Cyan Sky, Blue Horizon, and Pacific Breeze villas on Palm Jebel Ali. The homes embody the spirit of the sea and feature refined materials and finishes to enrich the island lifestyle. Envisioned as an oasis of calmness, the expansive family spaces in each villa invite light and flow while the open kitchens blend functionality with style.
Drawing inspiration from the local context, the Cobalt villas by Dubai-based LOCI are deeply informed by the region’s unique social, environmental, and material characteristics. Each design thoughtfully addresses these elements through a rhythmic composition and layering of spaces, creating a harmonious balance between openness and privacy, environmental protection, and shading, while maximizing breathtaking beach and sea views. The choice of materials reflects local characteristics, with an emphasis on both horizontal and vertical elements that enhance visual flow.
The design approach of LW Design for the Wave Crest villas focuses on sophisticated detailing and layering of the façades and follows three themes to harmonize the expansive views of the exterior with the exquisite interiors. ‘Nature’ villas have a minimal yet considered material palette with natural stone textures layered with warm timber tones; ‘Contemporary’ villas use refined materials and brass detailing for strong and bold contrasts; and the ‘White’ themed villas follow a neutral color palette with refined details, contrasting metals, and marble to enhance the perception of light.
Palm Jebel Ali’s seven islands span 13.4 kilometers, feature 16 fronds and over 90 kilometers of beachfront, and it marks the beginning of a new growth corridor in the Jebel Ali area, underlining the expansion of the emirate, in line with the Dubai 2040 Urban Master Plan and the Dubai Economic Agenda D33. The landmark development is designed with several mixed-use pedestrian-friendly neighborhoods offering panoramic views of the Arabian Gulf. Residents and visitors will enjoy an abundance of recreational spaces, catering to a diverse array of lifestyles and interests with a focus on smart city technologies and sustainable practices.
Nakheel’s projects form an iconic portfolio of master communities and residential developments that are pivotal to realizing Dubai’s vision.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
This landmark development embodies a new beginning in luxury living, rooted in sustainability and designed to foster community and connection.
3 min
Adanté Realty, the real estate arm of the Al Adrak Group, a leading conglomerate in Oman, announced the launch of its flagship project, Yenaier Residences, located at the heart of Sultan Haitham City, Oman’s first smart city.
The official launch of Yenaier Residences occurred on January 13, 2025, at the St. Regis Hotel, Muscat, attended by His Excellency Dr. Khalfan bin Said Al Shueili, Minister of Housing & Urban Planning and prominent guests from the government and private sector.
This landmark development embodies a new beginning in luxury living, rooted in sustainability and designed to foster community and connection. It is named in tribute to His Majesty Sultan Haitham bin Tarik, reflecting the significance of January, the month of his Accession. Yenaier aims to set new benchmarks in the Omani real estate sector as a Freehold project for all nationalities.
His Excellency Dr. Khalfan bin Said Al Shueili highlighted the project’s location within Sultan Haitham City and said: “Yenaier Residences, being located in the heart of Sultan Haitham City, is at the forefront of sustainable urban development, which aligns with the goals of Oman’s Vision 2040 and showcases the nation’s commitment to innovation.”
Yenaier Residences offers more than just an address; it’s a lifestyle destination for discerning homebuyers. Located within Sultan Haitham City in Al Seeb, Muscat, the project is part of a comprehensive transformation championed by the Ministry of Housing and Urban Planning (MoHUP). This eco-city spans 2.9 million square meters and integrates key features, including Green Spaces, Smart City Infrastructure, and Comprehensive Facilities: healthcare, schools, universities, mosques, commercial establishments, souqs, and cultural and daycare centers.
The Yenaier Residences feature six iconic towers interconnected by looping boulevards and greenspaces. The design philosophy is based on Contemporary Fluid Architecture, Eco-Friendly Principles, and Smart Living. The development includes a range of residences: loggia studios, loggia suites (1 BHK), sky residences (2 BHK), and sky villas (3 BHKs) and sky palaces (penthouses), with sizes ranging from 71 sqm to 462 sqm. Yenaier offers a range of amenities that promote an active and connected lifestyle, including Fitness and Wellness, Community and Social Hubs, Convenience, and Leisure.
Adanté Realty, as the development arm of the Al Adrak Group, brings 39 years of experience in the real estate sector in Oman and the UAE. This legacy ensures that Yenaier is built with a strong foundation and a commitment to high-quality materials and craftsmanship. Notably, Al Adrak Group’s expertise has been recognized by Ellington Properties in the UAE, where they are currently constructing two prestigious projects (EH3 and EH4), further solidifying their reputation for excellence. Adanté Realty’s vision is rooted in supporting Oman’s Vision 2040 and contributing to the nation’s infrastructure development.
Regarding Adanté’s entry into the premium real estate market in Oman, Dr. Thomas Alexander, the founder and the Chairman of Al Adrak Group, commented: “Adanté Realty is not just building properties; we are crafting legacies. Leveraging the Al Adrak Group’s 39 years of experience, we are setting new benchmarks for luxurious, sustainable living in Oman. Our commitment to quality and innovation is unwavering as we shape the future of urban spaces.”
Dr. Thomas Alexander added regarding the sustainable design and construction of Yenaier: “Yenaier Residences is a testament to our commitment to eco-conscious living. Through the use of sustainable building materials, innovative technologies, and green design, we are creating a development that is not only luxurious but also environmentally responsible.”
On the unique investment opportunity that Yenaier presents, Dr. Aadil Thomas Alexander, Executive Director of Al Adrak Group and the Chief Executive Officer of Adanté, said, “Investing in Yenaier Residences is not just about buying property; it’s about securing a prosperous future. Oman offers a stable and attractive investment environment, with freehold ownership, no taxes on personal income, property, or inheritance, and residency for investors and their families linked to the property ownership. We are proud to offer a prime opportunity for both local and international investors.”
Dr. Aadil further highlighted the focus on community and lifestyle: “At Yenaier, we are creating a place where people can connect, thrive, and create lasting memories. Our focus on sustainability, community spaces, and premium amenities reflects our commitment to enhancing the quality of life for our residents. The integrated community is a place designed for a ‘new generation’ while appealing to ‘more traditional lifestyles.”
Oman offers a stable and attractive environment for real estate investment, with zero taxes on personal income and 100% property ownership, promising a booming real estate market and supportive business laws. These benefits position Yenaier as a prime opportunity for both local and international investors.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
The five-year floating-rate senior unsecured committed revolving credit facility is the largest syndicated sustainability-linked deal by a real estate company in the Middle East
2 min
Aldar Properties PJSC (“Aldar”) has successfully closed an AED 9 billion (USD 2.45 billion) sustainability-linked syndicated senior unsecured committed multi-tranche revolving credit facility (RCF). The facility represents the largest sustainability-linked, syndicated deal by a real estate company in the Middle East.
The transaction follows Aldar’s successful and inaugural AED 3.67 billion (USD 1 billion) hybrid notes issuance completed earlier this month. Together, these transactions reinforce Aldar’s capital structure, financial flexibility and resilience, ensuring the company remains well-positioned to execute against its ongoing growth initiatives as part of its ambitious growth strategy.
Showcasing Aldar’s ability to scale and execute complex and diverse capital solutions, the facility is six times larger than any other single bank financing the company has done in its recent history. Moreover, the facility, arranged at a historically tight credit spread for Aldar, reinforces balance sheet resilience, providing substantial committed liquidity at a time of rapid growth across the company’s property development and investment platforms.
Faisal Falaknaz, Group Chief Financial and Sustainability Officer at Aldar, said: “This syndicated facility is a significant milestone that underscores Aldar’s financial strength and our ability to attract funding from a wide range of high-quality institutional sources. It reflects the trust and confidence that global and regional banks place in our business model and trajectory of accelerated growth. This facility, together with our recent hybrid issuance, ensures we remain well positioned to drive our strategic initiatives, capitalize on emerging opportunities, and create sustainable value for all our stakeholders.”
Demonstrating Aldar’s strong market standing, credit profile, and growing reputation globally, the syndication attracted orders from 15 prominent international and regional financial institutions, including a number of new financiers to Aldar’s credit panel. Participating banks include Abu Dhabi Commercial Bank, Ajman Bank, Bank of China, Citi, Dubai Islamic Bank, Emirates Islamic Bank (P.J.S.C.), Emirates NBD Bank (P.J.S.C.), First Abu Dhabi Bank, HSBC, Intesa Sanpaolo, J.P. Morgan, Mashreq, National Bank of Kuwait, National Bank of Ras Al Khaimah, and Sharjah Islamic Bank.
The facility, which has a five-year tenor and incorporates both conventional and Islamic tranches across AED and USD currencies is both committed and revolving linked to a floating rate to capitalize on conducive market conditions. It supports Aldar’s operational and financial flexibility, providing additional financial firepower to support its growth ambitions.
This facility is also linked to sustainability-linked KPIs, showcasing Aldar’s firm commitment to measurable ESG targets and responsible business practices. By integrating sustainability into its financing framework, Aldar reinforces its position as a leader in sustainable growth while supporting its broader ambitions of creating long-term value for stakeholders.
In January 2025, Moody’s reaffirmed Aldar’s Baa2 credit rating with a stable outlook. The milestone facility enhances Aldar’s liquidity position further, with available liquidity of AED 26.9 billion (pro forma for this syndication) as of 30 September 2024, comprising free and unrestricted cash and bank balances totaling AED 9.5 billion and undrawn committed revolving credit facilities of AED 17.4 billion (pro forma for this syndication) with an average debt maturity of 5.2 years.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Wasalt has been witnessing significant growth in usage, boasting more than 750,000 registered users, and 100,000 monthly leads.
2 min
Wasalt—the most advanced digital real estate platform specializing in real estate services—has emerged as a transformative leader in Saudi Arabia’s PropTech landscape within a short period of 4 years, redefining the real estate ecosystem with cutting-edge technology, AI-driven solutions, and the recent launch of its innovative digital auction platform licensed by Infath, the Kingdom’s entrustment and liquidation center.
With an anticipated five-fold increase in revenue from 2025 to 2028, Wasalt has been witnessing significant growth in usage, boasting more than 750,000 registered users, and 100,000 monthly leads. Furthermore, through its new auction platform, it has transformed the traditional auction process, providing a seamless and secure experience for buying and selling properties.
Beyond auctions, Wasalt continues to lead the market in transparency with AI-driven verification protocols and an innovative valuation tool, enhancing user confidence. These tools allow users to create personalized property descriptions, generate social media content, access real-time property valuations, predict ROI, and receive quality leads within Saudi Arabia’s booming US$1.25 trillion real estate market.
Ziad El Chaar, Chairman of Wasalt, said: “With the Kingdom’s population surging and requiring 1.5 million new homes, Wasalt was established to modernize the real estate industry. Our rapid growth within four years of launch speaks volumes of our success in addressing the limitations of traditional real estate practices. This also reflects the platform’s ability to deliver value and convenience to the Saudi real estate community which enables brokers, developers, and buyers to focus on what truly matters—closing deals and growing their businesses. Simplifying the complexities of the real estate market by leveraging data analytics and providing users with tools for informed decision-making will be critical as the country braces for homeownership to increase from 47% to 70% by 2030.”
As Wasalt continues to evolve, the company has introduced verification and quality assurance measures to proactively address market gaps, ensuring that listings remain continuously updated and free from inaccuracies, while rolling out new features and services to strengthen the real estate landscape in Saudi Arabia and deliver unparalleled value and efficiency to its users.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
This office will provide personalized investment services tailored to High-Net-Worth Individuals (HNWIs) and Ultra-High-Net-Worth Individuals (UHNWIs).
2 min
Hassi Properties, a premier global real estate advisory firm known for its bespoke services and deep expertise in luxury real estate investments, proudly announces the opening of its new Private Office in Dubai. Strategically located in the heart of one of the world’s most dynamic property markets, this exclusive office will provide personalized investment services tailored to High-Net-Worth Individuals (HNWIs) and Ultra-High-Net-Worth Individuals (UHNWIs).
Dubai’s real estate sector continues to demonstrate remarkable resilience and exceptional growth, particularly in the luxury property segment. Hassi Properties’ Private Office aims to capitalize on this momentum by offering elite clientele bespoke advisory solutions, curated investment opportunities, and exclusive access to the region’s most prestigious properties.
“We are thrilled to expand our footprint with the launch of our Private Office in Dubai,” said Hassan Waqar, Chief Executive Officer of Hassi Properties. “This initiative underscores our commitment to delivering unparalleled service and tailored solutions to our discerning clients. Dubai’s status as a global hub for luxury real estate, combined with its business-friendly environment and lifestyle appeal, makes it the ideal location for this strategic expansion.”
Tailored Services for an Elite Clientele
The Private Office will specialize in:
- • Bespoke Property Advisory: Tailored consultations to identify and secure premium real estate investments, including luxury residences, waterfront properties, and iconic developments.
- • Exclusive Market Insights: Proprietary data and expert analysis to navigate the complexities of Dubai’s evolving real estate market.
- • Off-Market and Private Listings: Access to discreet investment opportunities and confidential listings.
- • Portfolio Diversification Strategies: Comprehensive solutions for building and managing diversified, high-yield real estate portfolios.
The Private Office will also focus on fostering long-term relationships with international investors, family offices, and private wealth managers seeking secure, high-growth assets within Dubai’s luxury property landscape.
Dubai: A Prime Destination for Global Investors
Dubai remains a magnet for affluent investors drawn by its world-class infrastructure, tax-efficient environment, and unparalleled lifestyle offerings. The city’s luxury real estate market has been characterized by robust demand for ultra-prime properties, with record-breaking transactions reflecting a growing appetite among HNWIs and UHNWIs for premium assets.
“With our deep market knowledge, global network, and bespoke approach, Hassi Properties’ Private Office will empower clients to make informed, strategic decisions that maximize their investment returns,” added Hassan Waqar, Chief Executive Officer at Hassi Properties.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
At the heart of this growth lies the off-plan market, which contributed over half of the total transaction value.
2 min
Dubai’s real estate market closed 2024 with exceptional results, further establishing the city as a beacon of innovation, luxury, and strategic investment in the global property sector.
According to Springfield Properties’ Q4 2024 Dubai Real Estate Market Report, total sales transaction values reached AED 116.5 billion, reflecting a 31.1% year-on-year increase, with transaction volumes surging 51.8% to 46,844 closed deals.
At the heart of this growth lies the off-plan market, which contributed over half of the total transaction value, as well as Dubai’s thriving luxury property segment, which continues to attract high-net-worth individuals and institutional investors worldwide. Established communities like Palm Jumeirah, Downtown Dubai, and Dubai Marina remain dominant, offering a blend of exclusivity, lifestyle appeal, and long-term value.
Commenting on the results, Farooq Syed, CEO of Springfield Properties, stated: “Dubai’s real estate market continues to demonstrate remarkable strength and global appeal, underpinned by strategic planning, visionary developments, and investor confidence. This growth is the result of a deliberate focus on meeting evolving buyer preferences while setting new benchmarks in quality, innovation, and sustainability”.
The report highlights the off-plan segment’s pivotal role in driving Dubai’s real estate success, with 30,388 transactions recorded in Q4, supported by innovative payment plans and a strong investor appetite for future-ready assets. Areas such as Dubai South and Jumeirah Village Circle emerged as growth hubs for mid-income buyers, while luxury off-plan developments in Palm Jumeirah and Dubai Hills Estate attracted a global audience seeking exclusivity and modernity.
Simultaneously, the luxury segment reinforced its position as a key driver of market value, with premium properties in Palm Jumeirah achieving the highest average sales price at AED 4,600 per square foot. These numbers underline Dubai’s ability to cater to the highest echelons of global demand, ensuring its status as a leader in the ultra-luxury market.
Syed added: “Dubai’s appeal to high-net-worth individuals is about delivering a seamless integration of lifestyle, security, and strategic value. Buyers and investors see Dubai as a city that not only offers world-class amenities but also understands their aspirations for long-term growth and stability”.
As Dubai’s population approaches 4 million in 2025, demand across all property segments continues to rise. Key areas such as Dubai South, with its focus on inclusivity and strategic infrastructure, are expected to complement the ongoing strength of luxury hubs like Palm Jumeirah and Downtown Dubai. The city’s alignment with the Dubai 2040 Urban Master Plan further highlights its commitment to building a sustainable, forward-thinking real estate ecosystem that appeals to both global investors and end-users.
“Dubai has positioned itself as a global real estate leader by continuously adapting to market dynamics and driving innovation,” Syed concluded. “As we move into 2025, the focus will remain on delivering value-driven projects that reflect Dubai’s unique ability to combine inclusivity with exclusivity, setting the standard for urban living in the years ahead”.
The Q4 2024 results highlight a pivotal year for Dubai’s real estate sector, showcasing its adaptability, resilience, and ability to capture global attention. As the city transitions into 2025, Dubai is uniquely positioned to continue reshaping the real estate landscape with its strategic developments, forward-thinking policies, and unwavering focus on excellence.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Ola Residences is thoughtfully designed to offer an exquisite blend of contemporary aesthetics, natural beauty, and world-class amenities.
3 min
Lacasa Living, the boutique development arm of Lacasa Architects & Engineering Consultants, announced the launch of Ola Residences at Al Marjan Island. This residential project, valued at AED 200 million AED is set to add to the rapidly growing demand for properties in Al Marjan Island Ras Al Khaimah. With an expected handover in Q1 2027, Ola Residences is thoughtfully designed to offer an exquisite blend of contemporary aesthetics, natural beauty, and world-class amenities, making it a true haven for residents seeking tranquility and elegance
With its stunning location on Al Marjan Island and its impeccable attention to detail, Ola Residences offers a lifestyle like no other, with ready-to-move-in apartments that combine the beauty of nature with the finest comforts of modern living. Ola Residences is a meticulously planned development featuring two basement levels, a ground floor, seven apartment floors, and rooftop amenities. The project comprises 96 fully furnished apartments, evenly split between studios and one-bedroom units. The average area for a studio is 390 sq. ft, leading up to one-bedroom apartments sized at 820 sq ft and the more plush one-bedroom apartments with a private pool spanning 1,289 sq ft. The prices start from AED 1.18 million, with a payment plan structured at 40% during construction and 60% upon completion. The anticipated handover is scheduled for the first quarter of 2027.
“We are very excited to launch Ola Residences, which will be our first project for boutique residential apartments. As architects we have always put precision and design at the heart of all our projects and Ola Residences brings the best of our creativity in every element. Each aspect of the space serves a purpose that inspires connection, belonging, and beauty, just as we believe is the core of Lacasa Living” emphasized Emad Jaber, Chairman of Lacasa Living.
Backed by the expertise of Lacasa Architects & Engineering Consultants, Lacasa Living brings over 400 professionals together to craft thoughtfully designed spaces that blend timeless aesthetics with innovative solutions. Ola Residences is a reflection of this dedication, combining superior craftsmanship with a commitment to fostering vibrant communities.
“As with all our projects, we conceptualized Ola Residences to be an epitome of design, destination and delight. We chose to be in Al Marjan Island as the location has a growing focus on tourism and opportunities for residential development, especially near coastal areas. It is perfectly tailored to every preference, whether you are chasing thrills, seeking relaxation, or creating family memories. The project’s design blends nature and artistry. Our amenities are crafted to elevate every aspect of life. Every detail, from the cohesive design to the inspired living experience, reflects our core philosophy of creating spaces that enhance human experiences,” says Eng. Ahmad Jaber, CEO, Lacasa Living.
The design philosophy seamlessly combines elegance and warmth. It imbibes the emirate’s natural beauty and reflects the rhythms of the sea and the majestic mountains. The reception area greets visitors with a striking water-drop feature, a magnificent chandelier adorned with ballerina figures, and a warm colour palette of pearl tones and burnt oranges, creating an inviting and serene ambiance.
Designed for both residents and investors, Ola Residences is equipped with short-term rental readiness, complete with locker storage. Residents can unwind with a host of thoughtfully curated amenities and features like at the rooftop infinity pool and bar, offering stunning vistas where the sea meets the sky. The state-of-the-art fitness centre with large ocean-facing windows, as well as sauna and steam rooms are perfect for wellness enthusiasts. Families can enjoy dedicated spaces such as a kids’ play area and pool, residents can avail co-working spaces, storage facilities, and in-house laundry services for added convenience and flexibility for all residents.
Lacasa Living has partnered with One Broker Group, an award-winning, developer-focused real estate agency to prioritize the sales interest of end users and investors for the newly launched bespoke Ola Residences. Looking ahead, Lacasa Living has outlined an ambitious growth trajectory, with six projects already designed and ready for development. The company projects AED 1.2 billion in project values for 2025, AED 2 billion for 2026, and AED 3 billion for 2027. Each project will emphasize ready-to-move-in properties that combine bespoke design and boutique living in a functionality, community-centric environment.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
The announcement comes on the back of HRE’s recent partnership with Dubai Cares to support the education of youngsters in developing countries.
2 min
As part of its vision of ‘building with purpose’ and empowering citizens both in the UAE and internationally, HRE Development – a pioneering Dubai real estate company – has confirmed it is the main sponsorship partner of the ‘Fazza International Championships for People of Determination 2025,’ joining forces with Dubai Land Department (DLD), along with the Dubai Club for People of Determination and the Dubai Sports Council.
The championships, set to commence on 01 February 2025, will be held under the patronage of His Highness Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Sports Council (DSC) and Chairman of the Higher Committee for the Protection of the Rights of People of Determination in Dubai
This announcement comes on the back of HRE Development’s recent partnership with Dubai Cares, part of Mohammed Bin Rashid Al Maktoum Global Initiatives (MBRGI), whereby it extended a financial contribution of AED 30 million to Dubai Cares’ mission, ensuring that underprivileged children and youth in developing countries gain access to quality education.
As a developer, HRE has set itself a unique mission – Building with Purpose – which aims to give back at every opportunity.
The latest edition of the ‘Fazza International Championships’ features four major sports tournaments, including the 16th Fazza International Para Athletics Grand Prix, with the participation of 1,000 athletes; the first Fazza International Swimming Championship, welcoming 500 athletes; the 16th Fazza International Para-Badminton Championship, featuring 300 athletes; and the ninth Fazza Para Archery World Ranking Tournament, also hosting 300 athletes.
These events aim to create an inclusive competitive environment that brings together athletes from over 70 countries, nurturing values of excellence and inclusivity. Through these championships, which were first launched 16 years ago, Dubai seeks to reinforce its position as a city that is supportive of People of Determination, providing them with all the tools necessary to achieve success and unleash their creativity.
Wissam Breidy, CEO of HRE Real Estate Development, said: “We are honored to be the strategic partner of the Fazza International Championships, reinforcing our mission of purposeful building to leave a positive impact on the community. We are committed to creating spaces that empower individuals, foster inclusivity, and support resilience. By supporting the UAE team for People of Determination, our mission goes beyond constructing structures; it becomes about laying the foundation for dreams, aspirations, and communities where everyone has the opportunity to thrive. This mission aligns with the vision of Dubai, the UAE, and its wise leadership to create a positive impact and build a sustainable and prosperous future for all.”
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.
Property Finder reveals 2024 insights showcasing unprecedented growth and momentum across the region
3 min
UAE’s real estate market continues to soar as Property Finder, MENA’s leading property portal, reveals 2024 insights showcasing unprecedented growth and momentum across the region.
Dubai achieved record-breaking transaction volumes and values, totaling 180,987 transactions worth AED 522.5 billion. This marks a significant leap of 36.5% in volume and 27.2% in value compared to the previous market peak in 2023. The surge was driven primarily by off-plan sales, which accounted for 60.5% of total transactions, up from 43.6% last year.
Meanwhile, Abu Dhabi’s real estate sector demonstrated a moderate performance, with 14,662 transactions valued at AED 47.92 billion the market grew by 4% in terms of volume. Residential properties represented 66% of total transaction volume and 53% of total value, recording 9,707 transactions worth AED 25.6 billion
Key insights included:
Off-plan Market:
- Dubai:
- Off-plan sales in the Emirate demonstrated increased demand, with a year-on-year volume growth of approximately 60.5%, reaching around 109,527 transactions.
- This marked the highest volume of transactions for a year ever recorded. In terms of values, there was a year-on-year surge of around 43.5%, amounting to AED 228.03 billion, compared to AED 159 billion in 2023.
- The market also experienced a remarkable contribution to the total transaction, with its highest proportion for off-plan transactions in the past decade, reflecting a 61% increase.
- Abu Dhabi:
- The off-plan market registered approximately 5,385 transactions, accounting for 55.5% of the total in 2024.
- Values reached AED 16.34 billion, contributing to 63.8% of the total residential sales transaction value.
Existing/Ready Property Market:
- Dubai:
- Existing property related transactions showed a YoY increase of around 10.9% in volume, with around 71,460 transactions.
- This accounted for 39% of the total transactions in 2024. The market also experienced a changing hand for the off-plan market in which the new projects are more attractive to the investors and the home seekers.
- The value of these transactions surged by almost 16.9% YoY, reaching AED 294.5 billion, compared to AED 252 billion in 2023.
- Abu Dhabi:
- Existing property related transactions showed a significant YoY growth of 53.4% in volume, reaching approximately 4,320 transactions in 2024.
- These transactions accounted for 64% of total transactions volume.
- The total value of existing/ready transactions reached AED 9.27 billion, contributing 44.5% of the total sales transaction value in 2024.
- This represented a 34.7% YoY increase in transactional value.
Cherif Sleiman, Chief Revenue Officer, Property Finder commented, “2024 was a defining year for UAE’s real estate sector thanks to a record-breaking volume and value of transactions and it looks set to continue for 2025. It is an exciting time in the industry as momentum continues to grow in Dubai’s off-plan market, as well as in Abu Dhabi’s portfolio of properties. In a market hungry for further trust and transparency, the newly launched Smart Rental Index from Dubai Land Department is just one example of how the UAE constantly strives to raise the bar. We are fortunate to operate in a nation that champions economic diversification, attracts foreign investments and welcomes an influx of talent, creating sustained interest in the property market.
As a lighthouse tech company in the region, Property Finder will continue to spearhead innovation and empower our stakeholders with accurate data and insights to support both home seekers and our customers.”
Adding an external perspective, Mark Richards, Chief Executive Officer, The Network, noted, “Dubai’s real estate market is set for a strong performance in 2025, driven by sustained demand and limited supply in key segments. The emirate continues to attract new residents, with an annual influx of 50,000–60,000 people, reinforcing long-term market stability. Approximately 41,000 new residential units are expected to be delivered in 2025, but only around 5,000 of these will be villas and townhouses, highlighting a significant supply gap in this high-demand sector. These dynamics, combined with Dubai’s position as a global hub, suggest a highly optimistic outlook for 2025 and beyond.”
Sam McCone, Managing Partner, McCone Properties, said, “Private developers have consistently demonstrated their commitment to delivering high-quality real estate, often surpassing expectations. While the major players have focused on creating expansive master-planned communities, private developers have invested time and effort into refining the quality and craftsmanship of individual projects. As a result, buyers and tenants are beginning to raise their expectations. They now seek not only desirable locations but also properties that meet high standards of design, construction, and interior quality. This evolving demand is redefining the competitive landscape and setting new benchmarks across the market.”
Abdullah Alajaji, Managing Director, Driven Properties, highlighted, “In 2024, we saw affordable housing becoming increasingly sought after as rents continued to rise. There was also a noticeable shift toward smaller units in terms of size, which has been a defining characteristic of the market. We observed sustained demand in both the luxury property and off-plan markets, trends that we believe will persist into 2025. The growing interest in off-plan properties indicates strong investor confidence in future developments, a positive sign for the market in the coming year.”
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.
A Year of Growth, Excellence and Giving Back
3 min
2024 was a record setting year for Dubai real estate, and a landmark year for LEOS Development, who solidified its position as a key player in Dubai’s property market. Driven by a strong portfolio of groundbreaking projects, strategic partnerships and a renewed commitment to sustainability, LEOS has set new benchmarks in design, innovation and community. Looking to build further momentum in 2025, LEOS is set to launch Weybridge Gardens 4 during Q1, marking the beginning of another dynamic year, bringing the total up to ninth projects.
Over the past 18 months, LEOS launched an impressive seven projects, including Hadley Heights, Weybridge Gardens (1,2, and 3), Cavendish Square, Knightsbridge, and Kensington Gardens. The company’s operational efficiency was exemplified when two projects were launched within a 10 day window. Achieving over 90% sales across all projects is a clear testament to market confidence and LEOS’ commitment to excellence.
LEOS is redefining Dubai’s real estate landscape with a portfolio of projects that offer timeless contemporary design, world class amenities and meticulously crafted interiors by British and European architects. Knightsbridge redefines wellness, with the first climate-adaptive community, located in Meydan District 11. In the serene community of Greenwood, Kensington Gardens, harmonizes sophisticated design with idyllic nature, perfect for families. In Jumeirah Village Circle, Cavendish Square and Hedley Heights are positioned in the sought after location for seamless city living. Weybridge Gardens 1, 2 and 3 delivering 683 modern apartments and excellent connectivity on Sheikh Mohammed Bin Zayed Road.
In July, LEOS expanded its presence by becoming the official sponsors of AFC Bournemouth who play in the prestigious English Premier League. This collaboration is grounded in shared values and a commitment to growth, aligned with the company’s broader vision of global expansion and community connection. Reinforcing its dedication to giving back, LEOS announced a pledge to donate profits from all future projects to Mr. Adel Alsweedi’s Dubai Charity Association. This milestone reflects the company’s long-term vision to create lasting impact and offer community support.
The UAE’s growing global stature is a key factor in LEOS’ success. Ranked seventh globally in the 2024 IMD World Competitiveness Yearbook, the UAE has seen significant foreign direct investment inflows of $30.7 billion in 2023, with Dubai emerging as a magnet for global investors. The Emirate’s proactive economic initiatives and advanced infrastructure have driven demand, in communities such as Jumeirah Village Circle (1,035 units sold) and Jumeirah Village Triangle (670 units sold), which topped sales transactions in November, according to the latest report from Engel & Völkers Middle East.
As demand for eco-friendly properties grows, developers are increasingly integrating sustainable design features into their projects. LEOS is at the forefront of sustainability. LEOS Knightsbridge development is Dubai’s first climate-adaptive wellness community. The project incorporates a host of eco-friendly features, including hydroponic vertical gardens, solar panels, rainwater harvesting systems, EV charging stations, energy-efficient lighting, and green roof irrigation systems. The demand for health-conscious, wellness-driven communities is intensifying. As residents become more focused on their physical and mental well-being, developers are responding by prioritizing wellness in their projects. Kensington Gardens offers crystal healing lighting, swimmable lagoon, wellness centers, gyms, yoga & meditation spaces and harvest gardens – to promote well-being and provide balanced, rejuvenated lifestyle.
As the real estate industry continues to evolve, 2025 is set to be a year defined by several pivotal trends, particularly in fast-growing and dynamic markets like Dubai. LEOS Developments, a key player in the city’s luxury real estate sector, is positioning itself to lead the charge, aligning its projects with these emerging industry shifts.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
The emirate’s unique advantages and high competitiveness make it an attractive destination.
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The real estate market in Ajman recorded transactions worth AED2.28 billion in December 2024, marking an impressive growth of 102 percent compared to the same period in 2023, according to the Department of Land and Real Estate Regulation’s latest Real Estate Report.
Omar bin Omair Al Muhairi, Director-General of the Department, shared that December witnessed 1,169 transactions, including 935 property trades valued at over AED1.86 billion. The highlight of the month was a property sale in Al Jurf 1, which fetched AED300 million.
Al Muhairi emphasized the remarkable performance of Ajman’s real estate sector, attributing its growth to the quality and diversity of investment opportunities. He noted that the market’s sustained expansion underscores its appeal to investors from various sectors and highlights Ajman as a competitive and attractive destination for business and investment.
The report further revealed that mortgage transactions played a significant role, with 148 deals valued at over AED252.8 million. Among these, the highest mortgage value of AED11.2 million was recorded in Al Jurf Industrial 3.
Ajman’s growing competitiveness continues to position it as a key player in the regional real estate market, offering a dynamic and lucrative environment for investors.
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.
