Ajman’s Real Estate Market Sees Record Growth in 2024

Royal Private Offices (RPOs) in the GCC now control approximately $500 billion in assets and have become one of the key drivers behind the creation of new sovereign wealth funds in the region, according to global consultancy Deloitte.

The emergence of RPOs in the Gulf in recent years has prompted the establishment of additional or parallel entities in states where funds already existed, “which is most evident in the GCC, where new funds linked to specific individuals or extended families have emerged in recent years,” Deloitte said in a report.

Describing these entities as ones that “wield significant assets and their remits often appear to overlap partly with the established players,” Deloitte noted the “line between ruling family offices or state-controlled funds is often blurred”.

Sovereign wealth fund tracker Global SWF has identified 35 RPOs in the GCC, with the UAE home to a vast majority of these offices.

The most significant of them is the Royal Group, a family enterprise that serves as the tentpole to Abu Dhabi’s Sheikh Tahnoon bin Zayed Al Nahyan’s business empire, wielding almost $300 billion in AUM, according to data by industry tracker, the Sovereign Wealth Fund Institute.

The Royal Group is the biggest shareholder of Abu Dhabi’s sovereign backed International Holding Company (IHC), owning a 61% stake in the company, according to LSEG data, which is significantly also chaired by Sheikh Tahnoon.

In 2024, IHC also formed a new holding company 2PointZero with a $27 billion portfolio across industries, from asset management to mining, that was set to be transferred from the Royal Group, Reuters reported at the time.

Such parallel or spin-off funds are also on the rise in the GCC, Deloitte noted, citing the example of the Investment Corporation of Dubai (ICD) which announced the creation of the breakaway Dubai Investment Fund (DIF) in 2023 to hold the emirate’s stakes in utilities and road toll operators, and be responsible for “investing Dubai government funds, surpluses and the general reserve, domestically and abroad”.

Private credit nexus

An inevitable push into the private credit space for these RPOs has also been gaining momentum over the past few years. In 2022, Chimera Capital (now Lunate), an affiliate of the Royal Group’s Chimera Investment, partnered with the US-headquartered Alpha Wave Global to launch a $2 billion open-ended credit fund to make loans to middle-market companies.

Two years later, the $110 billion alternative asset manager Lunate was reportedly interested in acquiring a minority stake in global private credit leader HPS Partners, with Deloitte noting that Abu Dhabi sovereign investor Mubadala had also made moves to form at least seven partnerships with Apollo, Ares, Blackstone, and Goldman Sachs, committing over $5 billion to private credit investments both domestically within the UAE and internationally.

Growing clout

The growing clout of the Gulf has been spearheaded by its SWFs, prompting an industry-wide expansion that pushed total assets under management (AUM) globally to $12 trillion last year, with a forecast to reach $18 trillion by 2030.

Gulf funds now control approximately 40% of global SWF assets and represent six of the 10 largest funds worldwide by AUM, playing an instrumental part in “reshaping investment strategies amid increasing regional competition and evolving market dynamics,” Deloitte said.

The five major players in this region include the Abu Dhabi Investment Authority (ADIA), Abu Dhabi’s Mubadala and Abu Dhabi Developmental Holding Company, Saudi’s Public Investment Fund (PIF), and the Qatar Investment Authority (QIA).

A strategic pivot towards Asia has been gaining momentum, with the report stating that many Gulf SWFs have established new offices throughout Asia-Pacific and substantially increasing allocations to high-growth economies including China, India, and Southeast Asia.

Dubai Holding Real Estate (DHRE) has announced that it has awarded the road and infrastructure development contract to UAE-based Wade Adams for Phase I of Plantation Development located on a prime site between Hamdan Road, Latifah Street and Emirates Road in Dubai.

Wade Adams is a leading construction and project development company in UAE.

The Plantation Development project is located on a 185 HA site between Hamdan Road (D54), Latifah Street (D67), and Emirates Road (E611) in Dubai and is in close proximity to other low density residential villa developments.

Being mostly a desert landscape, the project site challenges conventional arrangements of plotted communities through an environment in which buildings and landscape casually coexist in balance rather than in contrast, said DHRE in a statement.

The contracted scope of work includes installation/construction of infrastructure of the development including the road network, service reservation, storm water drainage, street lighting, traffic control and potable water system.

As per the deal, Wade Adams will also be responsible for providing sewerage collection system, main irrigation system, firefighting system, irrigation and fire reservoir and pump station, electrical power (HV & LV), telecommunication, security ducts, gas ducts, spare ducts and all utility tie-in connections to adjacent packages.

The Dubai Land Department (DLD) launched the pilot phase of the Real Estate Tokenization Project. This initiative, introduced under the Real Estate Innovation Initiative ‘REES,’ establishes the department as the first real estate registration entity in the Middle East to implement tokenization on property title deeds.

The Dubai Land Department expects this groundbreaking initiative to drive significant growth in the real estate tokenization sector, with its market value projected to reach AED60 billion by 2033, representing 7 percent of Dubai’s total real estate transactions.

“Amid rapid technological advancements and the increasing reliance on digital solutions, real estate tokenization emerges as a revolutionary tool driving fundamental change in the real estate sector. By converting real estate assets into digital tokens recorded on blockchain technology, tokenization simplifies and enhances buying, selling and investment processes,” stated Eng. Marwan Ahmed Bin Ghalita, Director General of Dubai Land Department.

Regional and global hub for virtual assets

The Dubai Land Department is implementing the Real Estate Tokenization Project in collaboration with the Dubai Virtual Assets Regulatory Authority (VARA) and Dubai Future Foundation (DFF) through SandBox Real Estate. As part of this initiative, the department organized a specialized workshop on ‘Real Estate Tokenization,’ bringing together leading proptech companies, including top global firms specializing in real estate asset tokenization.

The Real Estate Tokenization Project aims to attract global technology firms and open new investment opportunities for the investor market in Dubai. It also seeks to diversify property ownership by allowing multiple investors to co-own a single property through tokenized real estate assets.

Additionally, the project strengthens Dubai’s position as a regional and global hub for virtual assets, enhancing its competitiveness on both local and international levels. It also promotes investment awareness in virtual asset services and products, encourages real estate innovation, and supports the development of cutting-edge solutions in the sector.

Attracting investments and virtual asset companies to Dubai

Furthermore, the initiative contributes to attracting investments and virtual asset companies to establish their operations in Dubai while ensuring the necessary regulatory frameworks are in place to protect investors and stakeholders.

“This pioneering project is part of the recently launched ‘REES’ Real Estate Innovation Initiative, designed to attract diverse technology firms. It aligns with our strategy to unlock new opportunities for innovative real estate products, enhance property sector innovation, promote transparency and governance, and enable a wider pool of investors to participate in large-scale real estate projects in Dubai,” added Bin Ghalita.

Tokenization to enable fractional property ownership in Dubai

Real estate tokenization transforms real estate assets into digital tokens using blockchain technology. Each asset is divided into shares based on an investor’s budget and financial strategy, enabling fractional property ownership. This innovative approach marks a significant shift by allowing investors to acquire a portion of a property without fully purchasing it, leveraging advanced technology.

Unlike crowdfunding, which grants investors access to the real estate market with small investments through digital platforms, tokenization offers a distinct and more structured model for real estate investment.

Through the launch of the Real Estate Tokenization Project, the Dubai Land Department reiterated its commitment to achieving the objectives of the Dubai Economic Agenda D33, which prioritizes adopting digital solutions. Dubai is shaping a smart and advanced economy built on leadership, sustainability and growth driven by knowledge, innovation and future technologies. This reinforces the emirate’s global competitiveness and solidifies its position as a leading hub for the world’s most thriving digital economy.

Azizi Developments, a prominent UAE-based private real estate developer, has announced a strategic partnership with SAP to implement a comprehensive digital transformation across its operations. This initiative supports Azizi’s rapid expansion in Dubai and the wider region, as it adopts RISE with SAP Private Cloud, featuring SAP S/4HANA and an advanced suite of SAP solutions to streamline services, improve efficiency, and enhance stakeholder experiences.

The partnership was formalized during a signing ceremony held on March 20, 2025, at Azizi’s headquarters in Conrad Hotel, Sheikh Zayed Road, Dubai, attended by Group CEO Farhad Azizi and Sergio Maccotta, SAP SVP for the Middle East and Africa – South, along with senior leadership from both organizations and key stakeholders.

This digital upgrade will establish an integrated digital ecosystem that connects all departments, boosts operational transparency, and enables real-time data access—crucial for fast, effective decision-making as Azizi scales its footprint across the UAE and globally. The transformation will further support Azizi’s plan to develop 150,000 residential units and its recent AED 1 billion investment in 12 new factories in KEZAD, as well as its expansion into hospitality and luxury property management.

Farhad Azizi emphasized the company’s customer-centric approach, stating, “This collaboration with SAP marks a major milestone in our commitment to delivering world-class service and technological innovation. It enhances our ability to operate efficiently while delivering unmatched value to our clients, employees, and investors.”

In addition to RISE with SAP, Azizi will deploy SAP Success Factors to improve human capital management, enabling seamless talent acquisition, employee engagement, and performance monitoring. SAP Business Technology Platform (BTP) will allow Azizi to integrate and extend applications, leverage real-time analytics, and implement AI and automation to unlock new efficiencies.

Azizi will also utilize SAP Sales and Service Cloud components to elevate customer service and enhance client satisfaction. Meanwhile, SAP Field Service Management will improve maintenance operations, optimize resource deployment, and ensure prompt service delivery.

SAP’s selection was based on its robust AI-powered business technology, deep real estate industry expertise, and future-ready upgrade capabilities. According to SAP’s Sergio Maccotta, “This partnership reflects the rising demand for intelligent, cloud-based solutions in the real estate sector. With RISE with SAP, Azizi Developments is investing in a resilient, agile digital foundation to support long-term growth.”

This partnership reinforces Azizi’s commitment to digital innovation, operational excellence, and delivering premium real estate experiences, aligning with its mission to develop high-quality communities and luxury lifestyle destinations across the UAE and beyond.

The Abu Dhabi Fund for Development (ADFD) has announced the launch of the $120 million (AED 440 million) Sofitel Legend Pyramids Giza, a five-star luxury hotel in Egypt, marked by a foundation stone-laying ceremony.

Strategic Luxury Hotel Investment

This high-end hospitality project aligns with ADFD’s commitment to enhancing Egypt’s tourism sector and fostering sustainable economic growth, according to Emirates News Agency (WAM). The hotel will elevate Egypt’s tourism appeal, reinforcing the UAE’s dedication to global economic partnerships and long-term investment in hospitality infrastructure.

The 302-room luxury hotel will feature state-of-the-art amenities, world-class dining experiences, and premium entertainment options, positioning itself as a top-tier destination for luxury hospitality in the Middle East.

The development is backed by a strategic investment partnership between UAE and Egyptian private sectors, with ADFD funding 84.28% of the project through the Abu Dhabi Tourism Investment Company (ADTIC). Accor Group, a leading global hospitality brand, will manage the hotel, ensuring a world-class guest experience.

Key Stakeholders & Investment Breakdown

The project includes investments from Abu Dhabi National Hotels (10.2%), Overseas Tourism Investment Company (0.4%), Misr Hotels Company (2.7%), and Egyptian General Company for Tourism & Hotels (2.4%).

ADFD Director General Mohamed Saif Al Suwaidi, alongside Giza Governor Engineer Adel Al-Najjar, led the foundation ceremony, highlighting the project’s role in attracting international visitors and enhancing Egypt’s tourism infrastructure.

Executive Statements

“The Sofitel Legend Pyramids Giza project is a pivotal investment in Egypt’s tourism industry, reinforcing our commitment to sustainable economic growth in high-potential markets,” said Al Suwaidi.

Governor Al-Najjar emphasized the hotel’s strategic location near Egypt’s iconic archaeological sites, positioning it as a key attraction for global travelers and a landmark addition to Egypt’s luxury tourism sector.

Dubai-listed Emaar Properties is set to invest over AED 14 billion ($3.81 billion) in the development of Creek Tower and Creek Mall, according to S&P Global Ratings. The developer holds the largest land bank among UAE’s rated private developers, with 405 million square feet of land as of December 2024.

Emaar’s strategic investment plan includes AED 65 billion ($18 billion) over the next five years, with a focus on land acquisitions exceeding AED 30 billion ($8.2 billion) to sustain its market dominance and competitive edge. The company is also set to increase capital spending on Dubai Mall’s expansion, a AED 1.5 billion project, given its 99% occupancy rate.

Additionally, Emaar plans to expand its residential rental portfolio to strengthen recurring revenue streams. Projected capital expenditures for 2025-2026 are estimated between AED 7 billion and AED 11 billion annually, excluding land acquisitions.

Emaar maintains a BBB+ rating from S&P, backed by its strong business performance and market leadership in Dubai’s real estate sector.

Corinthia Group, operating under IHI plc, has strengthened its luxury hospitality and real estate portfolio by partnering with Kuwait’s Action Real Estate Company to acquire two boutique hotels in Beverly Hills, California. The acquisition of Maison and Mosaic Hotels, totaling 100 keys, marks a strategic expansion into one of the world’s most prestigious hospitality markets.

According to Corinthia Group CEO Simon Naudi, this move aligns with Corinthia’s global luxury hospitality strategy, bringing elevated experiences to Beverly Hills. “Beverly Hills is an iconic hospitality destination, and we are committed to delivering world-class luxury services while enhancing our brand’s global presence,” said Naudi.

Sheikh Mubarak A. M. Al Sabah, Chairman of Action Real Estate Company, emphasized the significance of entering the U.S. real estate and hospitality market, highlighting the company’s expertise in premium investments across Europe, the Middle East, and Asia Pacific. “This acquisition solidifies our expansion into the United States, a key market for future growth and innovation,” he stated.

For the immediate term, the hotels will be managed by Los Angeles-based operator Palisociety, under existing branding. Corinthia Real Estate Ventures (C-REV), led by Managing Partners Marcus Pisani and Alex Chazkel, will oversee asset management and future value-enhancing opportunities for the properties.

Corinthia continues its rapid international expansion, having recently launched The Surrey, A Corinthia Hotel in New York, featuring 100 guestrooms, suites, and 14 private residences on Manhattan’s Upper East Side. The Group has also completed the €150 million restoration of the historic Grand Hotel Astoria in Brussels and announced plans to operate a 102-story luxury hotel and residential development in Dubai.

This latest Beverly Hills acquisition reinforces Corinthia’s commitment to high-end real estate and luxury hospitality investments, strengthening its presence in key global markets.

The real estate sector in Sharjah is undergoing a major transformation with the launch of the Ajmal Makan City – Sharjah Waterfront project in Al Hamriyah, a coastal development valued at AED25 billion (US$6.8 billion).

The project spans over 60 million square feet and features a mix of residential, commercial, and tourism facilities.

Sultan Al Shakrah, CEO of Ajmal Makan Real Estate Development, provided an update on the project, highlighting that it will accommodate more than 60,000 residents across eight islands, integrating modern urban living with sustainable and eco-friendly practices.

He stated that as construction progresses, Ajmal Makan City will contribute significantly to the expansion of Sharjah’s real estate sector and will continue to create thousands of jobs across various industries, including real estate, infrastructure, retail, hospitality, education, healthcare, entertainment, and services.

He emphasiZed that this large-scale freehold project has already attracted significant interest from local and international investors and plays a key role in Sharjah’s economic diversification strategy.

As the master developer, Ajmal Makan Real Estate Development has launched three new projects: Al Thuraya Island, The View Island, Blue Beach Residence.

Additionally, the first and second phases of Sun Island have been delivered, while the Blue Bay Walk project, developed in three phases, has seen the first phase completed, with phases two and three finished ahead of schedule and currently being handed over.

The project includes 1,500 villas, mid-rise buildings, hotels, retail spaces, a university, schools, a theme park, and other attractions, all of which are expected to make a significant contribution to Sharjah’s real estate landscape.

The development will also extend Sharjah’s coastline by 36 kilometers and will feature: A marina with 800 yacht berths, A 1.6-million-square-foot theme park, A 3-million-square-foot shopping mall, Waterfront restaurants, cafes, and entertainment venues.

Furthermore, 60 percent of the project will be dedicated to green spaces, beaches, and public areas, aligning with Sharjah’s sustainability goals. With its modern infrastructure, eco-conscious design, and waterfront living options, Ajmal Makan City is set to become a key destination for residents, tourists, and investors.

To manage the entire range of asset management for its real estate portfolio and future initiatives, Special Group for Trade and Investment has partnered strategically with Mint Real Estate Asset Management, an Al Ahly Sabbour affiliate.

Special Group’s most recent project in the New Capital, which is scheduled to debut in the market shortly, serves as the foundation for the partnership.

In order to guarantee the project’s market positioning, financial sustainability, and operational success, the agreement—which was formally signed in front of board members from both businesses—marks a critical milestone.

Special Group views this move into real estate development as a logical extension of its more than 25 years of investment experience in a variety of industries. The company hopes to provide a development that is both commercially sound and in line with long-term growth objectives by utilizing its vast experience in large-scale infrastructure and construction projects.

“A successful real estate project is about creating lasting value, not just building,” stated Mohamed Asaad, Special Group Chairperson. “Strategic vision, in-depth knowledge, and the appropriate alliances are necessary for entry into the development industry. We are guaranteeing a market-driven strategy that places a premium on long-term asset performance and strategic planning by working with Mint Real Estate Asset Management.

To ensure that the project is positioned competitively in a changing real estate market, Mint Real Estate Asset Management will assume the lead in strategic planning, marketing, sales execution, and CRM under the terms of this agreement. Long-term success is increasingly being driven by smart asset management and effective differentiation as the supply in the New Capital keeps expanding.

According to Alia El Nagdy, CEO of Mint Real Estate Asset Management, “the market demands more than just prime locations and quality construction—it requires a forward-thinking approach to real estate asset management.” Developments need to be flexible, sensitive to changes in the market, and planned for long-term success. It is our responsibility to make sure Special Group’s foray into real estate development is supported by sound plans, positioning the venture for sustained success.

This partnership highlights the increasing significance of expert asset management in maximizing project performance and bolstering investor trust as Egypt’s real estate market develops. The cooperation is expected to launch a well-positioned, high-value development into the market thanks to Special Group’s industry experience and Mint’s strategic approach.

An exciting new way of living is on the horizon as R.Evolution, the visionary real estate developer with over 25 years of experience, nears the final realization of Eywa. This exciting project, set to be completed in Q2 of 2026, will be a benchmark in reimagined modern living. An acronym for Energy, Youthfulness, Wellbeing, and Ancient knowledge, this opulent and health-focused residential masterpiece marks a new standard in holistic urban living and has been designed to elevate the lifestyles of all its residents. Located in Dubai’s prime Business Bay area, Eywa is not just a property; it’s a sanctuary that expertly combines luxury, sustainability, and community.

Eywa, where opulence goes beyond aesthetics, will encourage both personal growth and overall wellness. Its organic design, resembling a sprawling banyan tree, seamlessly blends natural elements with architectural brilliance. The use of exotic materials and cascading waterfalls on nearly every terrace evokes a sense of an oasis within Dubai’s bustling metropolis, redefining luxury as an experience that connects residents to both nature and themselves.

Inspired by Vastu Shastra and Ancient Wisdom

Throughout its construction, R.Evolution has integrated the ancient principles of Vastu Shastra seamlessly into Eywa’s design. Vastu is based on ancient texts that describe the principles of design, including layout, measurements, and ground preparation. In addition to this, it also aligns with the space arrangement, and spatial geometry, with cutting-edge technology to create a harmonious living environment that promotes mental, physical, and spiritual wellbeing.

Eywa’s architecture balances energy flows and aligns with the natural elements, leading to positivity and good health. The development’s unique Crystal Pyramid, which has been embedded into the structure itself and is at the heart of the building, features 3,355 crystals and semi-precious stones and weighs over 16 tons. This unique addition cleanses the energy of the space, enhances focus, and supports cell regeneration, thereby turning it into a haven for longevity and mindfulness.

Unparalleled Features and Facilities

Eywa offers 50 two- to five- bedroom exclusive residences and two penthouses, ranging from 3,064 to 16,256 sq. ft., each meticulously designed with wellness at its core. Achieving the WELL Platinum Certificate, which ​​measures attributes of buildings that impact occupant health by looking at seven factors, or Core Concepts: Air, Water, Nourishment, Light, Fitness, Comfort, Mind, the building leads in design and technology.

Each unit boasts the world’s most advanced water and air filtration systems, ensuring the highest standards of health and comfort. Every apartment is also designed to be soundproof, and features cascading waterfalls and private plunge pools, delivering complete privacy and serenity. Additional amenities, exclusive for residents’ use, include 24-hour Residential Concierge and Health & Longevity Concierge teams, plus a valet service, security, health and wellness specialists, kids’ play area, vegetable gardens, and an in-house chef – a service included in the service charge, with only ingredient costs incurred by residents.

Sustainability at Its Heart

​​Eywa proudly holds the LEED Platinum Certification, the highest distinction in sustainable building design and construction. This achievement signifies that the development meets the most rigorous standards for energy efficiency, water conservation, and environmental responsibility. By reducing carbon emissions, optimising resource use, and creating a healthier indoor environment, Eywa exemplifies how luxury and sustainability can coexist seamlessly, setting a new benchmark for eco-conscious living.

Further to this, the building’s façade, made of glazed terracotta ceramic, is self-cleaning and eliminates the need for detergents or chemicals while recycled water is utilized to nourish the greenery surrounding the property.

Prime Location in Business Bay

Nestled along the Dubai Water Canal, where it expands into a magnificent lagoon, Eywa offers the most breathtaking views of Downtown Dubai and the iconic Burj Khalifa. Its proximity to The Dubai Mall, Burj Khalifa, and Dubai International Airport ensures convenience while maintaining a tranquil atmosphere. Whether it’s a short drive to the Opera District or a leisurely stroll along the promenade, Eywa provides residents with the best of urban and waterfront living. Designed with the belief that homes should tell a story, Eywa’s architecture goes beyond aesthetics and functionality, embodying an essential part of the city’s image, one that will leave a lasting mark on Dubai’s history for decades to come.

“Eywa is the embodiment of our vision to create spaces that are more than just homes – they are transformative experiences. By blending ancient wisdom, state-of-the-art technologies, and sustainable practices, Eywa represents the next generation of real estate, where luxury meets wellbeing, and innovation meets harmony,” said Alex Zagrebelny, the Founder and CEO at R.Evolution.

R.Evolution has been redefining the way people view real estate for over 25 years. Boasting an extensive portfolio spanning residential, office, hotel, and infrastructural properties across cities like Dubai, Berlin, Riga, and Barcelona, R.Evolution’s projects are characterized by their revolutionary vision and intellectual development, which includes a blend of timeless wisdom and modern technology. This approach creates architectural masterpieces that prioritize sustainability, wellbeing, and community.

With Eywa, R.Evolution has set a precedent in luxury real estate by offering a space that nurtures the body, mind, and soul. More than just a building, Eywa is a symbol of the future of urban living – one where sustainability and wellbeing are at the heart of every design decision.

Ras Al Khaimah’s (RAK) real estate market is poised for significant growth and price appreciation, driven by surging demand and a housing shortage in the next few years, according to Metropolitan Premium Properties (MPP), a full-service real estate agency and part of the Metropolitan Group.

Despite the launch of new projects on Marjan Island, the market is expected to face a substantial deficit of homes by the time the Wynn Gaming resort structure is completed in late 2025.

Maxim Novikov, Head of RAK branch at Metropolitan Premium Properties, said: “Even with new projects underway on Marjan Island, RAK will face a shortage of available homes. Demand is expected to continue to outpace supply, making it an exciting market to watch in the near future. There has been strong demand, particularly for waterfront and beachfront properties in RAK with many new developments selling out quickly. Several projects are selling out during their launch phase or even before they are officially announced.”

According to MPP, while numerous new projects are anticipated to be announced this year, the current delivery timeline is creating a significant gap. The number of new units expected to be delivered in RAK this year remains relatively low. For example, in 2024, very few projects were completed, with only 318 units delivered in Marina Residence at Al Hamra and 89 units in Marbela 2. In 2025, the delivery pipeline is slightly more promising, with two projects set to be completed in Mina (formerly Mina Al Arab). These include 648 apartments and 13 lofts in Bay Residence, along with 146 apartments in Gateway 2.

Despite the additional units coming to the market, the demand is still expected to outstrip supply.

The shortage of ready units has resulted in off-plan property prices increasing on average 15-20% in 2024 and this trend is expected to continue this year as well. The highest demand is for studios and one-bedroom units in waterfront projects near the Wynn Resort.

“We are witnessing exceptionally strong demand, particularly for beachfront properties. Properties close to the Wynn Resort are seeing significant interest, especially smaller studio and one-bedroom units. At the same time, there is a noticeable demand for commercial, retail spaces, as well as villas and townhouses in prime waterfront locations. However, the supply of these types of properties remains limited,” said Mr. Novikov.

Several key factors are expected to drive demand for real estate in RAK over the next few years. The population of the emirate is projected to nearly double, reaching 650,000 residents by 2030. Additionally, the rapid progress of the Wynn Resort construction is fueling excitement and interest in the area.

Ras Al Khaimah’s Economic Zone (RAKEZ) is also attracting entrepreneurs from around the world, boosting demand for both residential and commercial properties. RAKEZ achieved record growth in 2024, welcoming 13,141 new companies, which represents a 66% increase in registrations compared to 2023. Also, the emirate’s forward-thinking approach to cryptocurrency trading and blockchain technology is another factor contributing to its appeal.

While Marjan Island continues to capture much attention, other areas in RAK are also poised for significant growth, according to MPP. Areas such as Mina, Al Hamra and RAK Central are expected to see substantial development, offering high growth potential for real estate investors.

Mr. Novikov concluded, “The real estate market in RAK is set for dynamic growth and entering an exciting phase. Investors and homebuyers alike should be prepared for rising prices and increased competition for the limited available properties.”

Saudi-based Retal Urban Development Company announced that its joint venture, Rimal Al Khobar Real Estate Company, has awarded a SAR450 million ($120 million) construction contract for the Retal Rise and Nobu Hotel projects in Al Khobar City.

Located in the Eastern Province, Retal Rise comprises 129 residential units, while Nobu Hotel includes 101 rooms, 62 residences managed by Nobu, and a Nobu Restaurant and Café. All developments boast a prime location overlooking the Corniche.

Specialized construction company has been contracted for MEP works across the projects, with completion expected within 15 months. Retal anticipates a positive financial impact from the project in 2025 and 2026.

Meraas, part of Dubai Holding Real Estate (DHRE), has unveiled the final phase of The Acres, its premium villa community situated in the heart of Dubailand.

The concluding phase includes 106 villas and 102 mansions, offering a harmonious blend of well-being, nature, and high-end amenities. It features three-, four-, and five-bedroom villas, as well as The Acres Estates, which presents the luxurious Amber and Ivory Collections with five-, six-, and seven-bedroom mansions.

Each home showcases unique architectural styles while maintaining the highest standards of luxury, sustainability, and refined living, according to the developer.

Meraas highlights that The Acres is designed with sustainability at its core, aiming for an 80% reduction in per capita greenhouse gas emissions compared to the national average. The development uses 33% less water than the UAE’s average, with irrigation fully supplied by treated wastewater. The project also incorporates water-saving fixtures, efficient irrigation, and drought-tolerant plants.

The community has received the LEED Gold for Communities pre-certification, a distinctive part of the LEED program, emphasizing Meraas’ commitment to building eco-friendly communities to international standards.

This prestigious certification, the first of its kind for Meraas, was granted by Green Business Certification Inc. (GBCI), the organization responsible for overseeing LEED and other green certification programs.

Khalid Al Malik, CEO of Dubai Holding Real Estate, commented that the launch reflects the group’s dedication to creating sustainable communities that foster well-being and a strong connection to nature, which are essential values for modern homeowners.

He added, “With changing consumer preferences now focused on eco-conscious living, wellness-centered design, and thoughtfully integrated spaces, The Acres is crafted to meet these demands. Achieving the Leed Gold pre-certification highlights our commitment to environmental responsibility and global best practices, offering residents a future-oriented lifestyle.”

The Acres Estates range in plot size from 9,000 to 17,700 sq. ft. across both the Amber and Ivory Collections, featuring private gardens connected by pedestrian-friendly pathways leading to the park and lagoon.

The Amber Collection offers a modern design with sleek lines and natural materials, while the Ivory Collection features a more traditional style with vertical stone-clad walls and minimalist white horizontal lines.

These villas include a seamless blend of indoor and outdoor living spaces, central kitchens that are easily accessible from dining and lounge areas, expansive master suites with private terraces and walk-in closets, large bathrooms with scenic views, and courtyards designed to enhance natural light and privacy.

Residents will enjoy extensive green spaces—2.5 times the global average—with each villa just a three-minute walk from a park. The community is designed with a strong social infrastructure, including the Halo Loop Park, a nursery, school, clinic, mosques, clubhouses, retail area, and an Edible Garden. Active lifestyle amenities include a trail network, outdoor gym, playgrounds, swimming pools, and sports areas.

Nestled in the vibrant heart of Downtown Dubai, Mr. C Residences Downtown redefines what it means to live well. Blending the timeless charm of European hospitality with modern sophistication, this residential tower offers a thoughtfully curated collection of amenities and services designed to elevate everyday life.

Boasting the most extensive selection of amenities in the city, Mr. C Residences Downtown transforms everyday living into an art form. A welcoming Lobby Lounge, adorned with carefully curated art pieces, invites residents into a world of refinement. A golf simulator brings the fairway experience home, while a private cinema room offers a bespoke viewing experience. The billiards and media room with a podcast space provides an interactive social hub, while the dedicated 57th-floor events space boasts breathtaking panoramic views, making it an unrivalled setting for private gatherings. For the creatively inclined, the Residents’ Library and Art Studio serve as inspiring retreats for cultural exploration.

Wellness takes center stage at Mr. C Residences Downtown, with an entire full-floor spa and wellness retreat, designed to provide the ultimate rejuvenation experience. The holistic spa is a sanctuary of relaxation, featuring steam, sauna, salt, and oxygen rooms, alongside dedicated treatment rooms for personalized therapies. A private salon offers a private space for personalized beauty services.

The Bellini Bar by Mr. C offers a space for residents to lounge and unwind. A business lounge provides an elegant and productive space for professionals, while families can enjoy the thoughtfully designed Little C’s Kids Club, ensuring young residents have a space of their own.

Beyond the exceptional amenities, Mr. C Residences Downtown offers a full suite of bespoke services, ensuring effortless living. Residents are able to reserve a private in-residence dining experience with a dedicated Bellini chef for friends and family. From dedicated concierge services and personalized lifestyle management to practical conveniences such as mail and package rooms and a refrigerated delivery holding area, every detail has been meticulously curated to provide a seamless and luxurious lifestyle.

Mr. C Residences Downtown offers amenities that serve as an extension of the home, becoming Dubai’s most desired address for those who seek nothing but the extraordinary.

Invest Qatar, the Investment Promotion Agency of Qatar, and the Real Estate Regulatory Authority (Aqarat) have successfully concluded their participation in MIPIM 2025, the world’s premier real estate exhibition, held in Cannes, France. Through the Qatar Pavilion, global investors and industry leaders explored Qatar’s flourishing real estate sector, gaining insights into the country’s latest developments and diverse investment opportunities.

The pavilion featured leading Qatari real estate developers, including the United Development Company (UDC) and Qetaifan Projects, showcasing innovative projects and Qatar’s commitment to sustainable, smart urban development. This participation aligns with the national real estate promotion strategy, which supports economic diversification and aims to attract foreign investment.

MIPIM 2025 gathered over 20,000 delegates from more than 90 countries, including key decision-makers from the global real estate sector, government leaders and sovereign wealth funds managing a combined €4 trillion in assets under management (AUM).

Qatar’s real estate market has emerged as one of the fastest-growing sectors in the country, witnessing a 34% growth from 2015 to 2023 and a 50% increase in the number of issued building permits. The country’s strategic location, global connectivity and residency incentives, coupled with a resilient economy projected to reach $288 billion by 2027, continue to enhance Qatar’s appeal as a leading real estate investment destination. A transparent regulatory framework and ongoing investments in world-class infrastructure further solidify its position as a global real estate hub.