Aldar and Mubadala Strengthen Strategic Partnership to Drive Abu Dhabi’s Global Growth and Innovation

HRE Development has unveiled its newest project, SkyHills 2, with plans to invest AED 10 billion over the next three years. Positioned in the vibrant Jumeirah Village Circle (JVC), SkyHills 2 is a premium mixed-use development that aims to transform community living through a unique combination of residential and commercial spaces. The project will feature 509 luxury apartments and 17 retail outlets, with completion expected by Q2 2026.

Offering a range of residential options, from studios to 3-bedroom duplexes, and starting prices from AED 680,000, SkyHills 2 is poised to attract a broad spectrum of investors and homeowners seeking upscale living in a prime location. The development is set to cater to the growing demand for modern, integrated communities in JVC, one of Dubai’s most rapidly expanding neighborhoods.

“The launch of SkyHills 2 marks another milestone in our journey of transforming how people live and engage within communities. As JVC continues to grow as a sought-after area in Dubai, we are confident that SkyHills 2 will be a standout choice for investors and residents alike. Our commitment to excellence and innovation has driven us to deliver outstanding real estate developments that not only enhance communities but also set new standards in the industry. Looking ahead, we are excited about the opportunities to further expand our portfolio, with the SkyHills 3 project to be announced soon.  Our dedicated team remains focused on achieving our goals, embracing sustainable practices, and creating exceptional value for our stakeholders to further contributing to the growth and prosperity of the markets we serve,” said Mr. Mohamed Adib Hijazi, Chairman of HRE Development.

JVC has seen a remarkable rise in property transactions, with over 10,828 deals amounting to AED 12.8 billion recorded in 2024. This upward trend reflects JVC’s emergence as a key area in Dubai’s real estate landscape, surpassing established districts such as Business Bay and Dubai Marina. SkyHills 2 is positioned to capitalize on this growth, offering investors an opportunity to be part of JVC’s rapidly expanding community.

SkyHills 2 offers fully-furnished apartments and is equipped with a comprehensive range of amenities aimed at enhancing the lifestyle of its residents and adding value to the community. Key features include landscaped areas and water features, outdoor gym and a state-of-the-art fitness center, basketball and tennis courts, swimming pool and sauna and kids’ play area and peaceful sitting spaces.

Each furnished unit at SkyHills 2 is crafted with meticulous attention to detail, offering top-tier branded finishes and modern technologies such as high-quality sanitary fittings from Nobili, Grohe, and Geberit, premium kitchen appliances from Bosch, Teka, and Elleci, smart home automation powered by HDL and air conditioning by Carrier and elegant interiors with polished porcelain tiles and quartz countertops.

“HRE is committed to pioneering innovative architectural designs that redefine boundaries and result in visually captivating structures. Every detail, from design concepts to material selection, is meticulously planned and executed. With a strong foundation in contracting and construction, HRE understands the critical importance of adhering to rigorous guidelines and maintaining the highest quality control standards. Our well-established systems and processes ensure that every project consistently meets or exceeds industry benchmarks,” said Mr. Sami Diyabi, Executive Director, HRE Development.

Established in 2003, HRE Development has grown from a reliable construction company into a major player in the UAE’s real estate sector. With over 200 projects successfully delivered across the region, HRE has a proven track record of delivering high-quality, luxury developments that enhance urban living. As the company expands its portfolio, projects like SkyHills 2 reflect HRE’s ongoing commitment to creating sustainable, innovative spaces that cater to the evolving needs of modern buyers.

HRE Development’s growing portfolio includes prestigious projects such as Liv Residences, Kempinski Hotel, Lulu Mall, The Gate Tower, and Al Zahia Development, each of which underscores the company’s commitment to quality, innovation, and customer satisfaction.

NABNI Developments announced the completion of the luxurious Avenue Residence 4. Situated in the dynamic Al Furjan district, this 13-storey residential building offers a tranquil retreat, blending elegant design with an unmatched lifestyle and privacy.

The prestigious property comprises 135 apartments, offering an elevated and tailored living experience with 64 one-bedroom, 61 two-bedroom, and 10 three-bedroom units. Avenue Residence 4 is a representation of refined sophistication, featuring architectural brilliance and opulent gold-plated finishes throughout.

Khalid Alsuwaidi, Chief Commercial Officer of NABNI Developments says, “We are thrilled to announce the successful completion of Avenue Residence 4, a testament to NABNI Developments’ unwavering commitment to redefining luxurious living in Dubai. This project represents the pinnacle of our dedication to crafting homes that seamlessly blend elegance, comfort and innovation. At NABNI Developments, we take pride in delivering a signature living experience that sets a new standard for opulence and comfort in Dubai.”

Located just a step away from the Discovery Gardens metro station, Avenue Residence 4 embodies a harmonious lifestyle, crafted with both form and function, for seamless design integration. Each apartment adorns affluent NemoTM chandeliers, 3.20-meter-high ceilings and glass balconies, encompassing picturesque city views of Dubai’s famous skyline. The apartments are meticulously designed with elegant interiors incorporating Italian finishes and fixtures, including a fully equipped Italian kitchen, spacious wardrobes, and built-in SiemensTM appliances.

The extravagant property provides an array of exclusive facilities, such as a state-of-the-art fitness center with TechnogymTM equipment, a temperature-controlled swimming pool, and a dedicated kids’ play area. Residents can also enjoy round-the-clock security, and a G+2 podium parking, for ultimate comfort.

Avenue Residence 4 offers discerning residents a peaceful recluse and the lavish rarity to connect or disconnect from Dubai’s bustling city life. It provides easy access to the city’s famous districts and attractions, including Ibn Battuta Mall, The Beach, Dubai Marina, Bluewaters Island, and Palm Jumeirah. With easy access to Sheikh Zayed Road, Mohammed Bin Zayed Road, and Emirates Roads, residents can effortlessly commute to The Dubai Mall, Downtown Dubai, and Al Maktoum International Airport (DWC).

Avenue Residence 4 by NABNI Developments presents an unparalleled lifestyle with its exquisite amenities, privacy and sophistication, evident in every detail. Residents are promised a tranquil retreat where privacy, prestige, and personalized services await.

Abu Dhabi Global Market (ADGM), the international financial hub of the UAE’s capital, has announced a significant Memorandum of Understanding (MoU) with the Department of Municipalities and Transport (DMT) to streamline the transfer of real estate services within ADGM’s expanded jurisdiction.

With ADGM’s growing presence on Al Reem Island, this strategic partnership with DMT will facilitate the transfer of real estate services, enhancing the quality and efficiency of municipal offerings for both residents and businesses in the area. The MoU clearly defines the responsibilities of both entities, ensuring a smooth transition of real estate management from DMT to ADGM, while promoting continued collaboration on urban planning, infrastructure, and other essential services.

Commenting on the MoU, Hamad Sayah Al Mazrouei, CEO of the ADGM Registration Authority, said: “This collaboration with DMT marks a pivotal step in ADGM’s expansion journey, setting new benchmarks for the real estate sector. Our expansion to Al Reem Island is not only a milestone for ADGM but also a significant benefit to those living and working within our jurisdiction. It reflects ADGM’s unwavering commitment to supporting Abu Dhabi’s exponential growth and fosters a thriving ecosystem for investment. Through this MoU, we aim to leverage our combined expertise to deliver high-quality, efficient services that cater to the evolving needs of the community. Alongside this expansion, ADGM will also introduce a comprehensive regulatory framework to ensure transparent, efficient, and globally aligned real estate practices within the expanded jurisdiction, furthering our dedication to innovation and excellence in real estate regulations”

Reflecting on the significance of the MoU, H.E. Dr. Salem Al Kaabi, Director General of Operational Affairs at the DMT, said: “This Memorandum of Understanding represents a significant milestone in our collaborative efforts to enhance the quality and efficiency of real estate services in Abu Dhabi. By partnering with ADGM, we are facilitating a smoother integration process and reinforcing our commitment to excellence in urban development. This cooperation embodies our shared vision to drive progress, streamline operations, and ultimately deliver exceptional amenities to our community.”

This strategic partnership enables ADGM to spearhead innovation, efficiency, and excellence in real estate and municipal services, further strengthening Abu Dhabi’s position as a leading global financial hub for business and investment.

Al Areen Holding Company, a subsidiary of GFH Financial Group and the developer behind the Al Areen masterplan, has launched a ten-day promotional campaign to showcase its innovative Tilal Residential Project, an upcoming contemporary destination offering a luxurious lifestyle with stunning views of nature and the Al Areen Wildlife Reserve.

Running from September 19th to 29th, the campaign will feature exclusive offers on residential units within the expansive Tilal Residential Project, which covers over 93,000 square meters. The project includes a variety of luxurious villas and townhouses, characterized by modern design, spacious layouts, and options ranging from 3 to 5 bedrooms. Most townhouses offer 3 bedrooms, with designs reflecting contemporary trends. Each unit is crafted with high-quality finishes, paying close attention to modern lifestyle needs and environmental sustainability.

Throughout the campaign, Al Areen Holding Company will provide detailed information on the project’s facilities and services, including shared parks, walkways, and playgrounds, all designed to foster a high-quality, upscale community atmosphere. Additionally, interested buyers will have access to flexible financing options through Khaleeji Bank, tailored to meet their needs.

In this context, Mr. Ahmed Khalfan, Chief Marketing and Sales Officer of Al Areen Holding and CEO of Tilal Residential Project, commented: “We are excited to launch this promotional campaign for Tilal Residential Project, which represents a valuable addition to the real estate market in Bahrain. We believe that this project will be a destination for anyone seeking an integrated and distinctive lifestyle in a scenic natural environment. During this occasion, we will have the opportunity to highlight the singular features embraced by the project.”

He added: “We invite everyone to visit our platform at City Centre Bahrain during the campaign period and benefit from the exclusive offers available, as Tilal Residential Project represents a unique opportunity to own and invest in the heart of nature.”

It is noteworthy that Tilal Residential Project is located in the Al Areen masterplan, within a new city that includes commercial offices, retail units, restaurants, hotels, health and educational facilities, and a range of residential communities. The project is distinguished by its proximity to Al Areen Wildlife Reserve in the southern region of the Kingdom of Bahrain, as well as the Bahrain International Circuit and Al Dana Amphitheater. The masterplan also includes Raffles Al Areen Palace Bahrain and the Lost Paradise of Dilmun Waterpark.

Meraas, part of Dubai Holding Real Estate, has awarded an AED 850 million contract to Dutco Construction Co LLC for the construction of the Bvlgari Lighthouse on Jumeira Bay Island. With marine works on this section of the island now complete, construction will soon begin on the 27-storey luxury residential tower. Designed by the world-renowned architecture firm Antonio Citterio Patricia Viel, the Bvlgari Lighthouse is poised to become one of the city’s most prestigious landmarks.

Inspired by the elegance and luxury of the renowned Italian jeweler, the tower will feature four and five-bedroom penthouses, along with an extraordinary eight-bedroom Sky Villa. This exclusive villa will occupy the top three floors and boast expansive private rooftop gardens, outdoor living spaces, a private pool, and sophisticated lounge areas on both sides of the building.

Scheduled for completion by Q2 2027, the Bvlgari Lighthouse is Bvlgari’s third project in collaboration with Meraas.

Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said: “Meraas remains steadfast in its commitment to creating and delivering some of Dubai’s most distinctive and luxurious residential offerings, and the Bvlgari Lighthouse will soon become a part of this exceptional portfolio. Our partnership with Dutco Construction marks a significant milestone as we advance towards realizing this landmark project. Reflecting Bvlgari’s values of unrivalled craftsmanship and timeless elegance, our most exclusive new address is set to elevate the standard for luxury beachfront living at Jumeira Bay Island and maintain Dubai as a destination of choice.”

Offering uninterrupted views of the Arabian Gulf and the city’s skyline, the Bvlgari Lighthouse features a façade inspired by the gentle movement of marine coral, which not only creates timeless light patterns, but also offers privacy and tranquility by refining both light and air.

As part of the Bvlgari experience, residents will enjoy unlimited access to the exclusive facilities of the neighboring Bvlgari Resort Dubai, complemented by the unmatched Bvlgari service standards. This includes the world’s first Bvlgari Marina and Yacht Club, state-of-the-art swimming pools, landscaped gardens, private parking spaces, dedicated storage facilities and a host of dining options on-site.

Shaped like a seahorse, Jumeira Bay Island by Meraas is not only home to Bvlgari Resort Dubai, but also serves as a refined and exclusive destination for both residents and visitors to enjoy. The island boasts private beaches, fine dining options and peaceful boulevards that lead to some of the world’s most sought-after residences.

Bahrain Marina Development Company, the developer behind the prestigious Bahrain Marina project in the heart of Manama, has announced a major milestone with 25% of Phase I already completed.

As one of the most well-known real estate and tourism ventures in the kingdom, Bahrain Marina is designed to deliver an integrated, luxurious lifestyle experience, blending high-end residential, retail, entertainment, and hospitality elements.

The project will feature an array of luxury residential units, including beautifully crafted apartments offering stunning Gulf views, along with five-star hotels that provide premium hospitality services.

A state-of-the-art yacht marina, offering world-class facilities for marine enthusiasts, will also be a highlight of the development, according to the developer.

Beyond luxury residences and hospitality, Bahrain Marina will feature a high-end shopping mall with a diverse selection of international and local brands. The development will also include a variety of restaurants and cafes catering to different culinary preferences, family-friendly recreational areas, green spaces, pristine beaches, and modern sports facilities, including swimming pools.

On the key achievement, chairman Khalid Najibi said: “We are extremely proud of the tremendous progress achieved over the past year. Reaching 25% completion is a remarkable accomplishment that underscores our commitment to delivering a world-class project.”

“Achieving this while maintaining a strong safety record demonstrates the dedication and diligence of our entire team. This achievement strengthens our confidence in completing Bahrain Marina on time and to the highest quality standards,” he stated.

Najibi said Bahrain Marina was not just a real estate development company, but it represented the company’s vision to create something exceptional for Bahrain and the region.

“We are determined to deliver a project that sets new benchmarks for luxury and quality, enhancing Bahrain’s reputation as a premier investment and tourism destination. As we move forward, we remain committed to contributing to the Kingdom’s economic vision and setting the bar for future developments,” he added.

According to him, Bahrain Marina symbolizes the power of ambition, experience, and vision.

“We are driven to create a project that redefines luxury living and entertainment in Bahrain, making Bahrain Marina a flagship destination. Each milestone increases our determination to exceed expectations, and we look forward to celebrating its completion with the community,” he added.

On the key milestone, Managing Director and CEO Yousef Al Thawadi said: “Achieving 25% completion within the first year is a testament to the efficiency and commitment of our dedicated team.”

“We are moving steadily towards our vision of delivering a project that elevates the standards of quality and luxury in Bahrain, and we will continue to build on this momentum in the upcoming stages,” he added.

Drawing inspiration from the timeless allure of Parisian art and the captivating romance of Paris, HMB Homes Real Estate Development unveils its top project, One Beverly, set to transform luxury living in Dubai. This AED 350 million development is the crown jewel of HMB Homes’ portfolio, offering one of the most prestigious addresses in the city, and promising an extraordinary and inspiring lifestyle.

HMB Homes Real Estate Development, known for its innovation and excellence in the UAE’s real estate sector, continues to raise the bar in luxury living. With a history of pushing the boundaries of residential development, the company is committed to creating iconic and highly sought-after destinations that redefine the standard of living in Dubai. The launch of One Beverly marks a significant milestone in this journey, showcasing HMB Homes’ dedication to delivering not just homes, but truly remarkable living experiences.

Located in the heart of Arjan, one of Dubai’s most distinguished residential communities, One Beverly benefits from a prime location that offers both serenity and convenience. Arjan is known for its modern comforts, close-knit neighborhood feel, and proximity to some of Dubai’s most prominent landmarks. Situated just minutes away from Dubai Miracle Garden and Dubai Butterfly Garden, Arjan effortlessly combines contemporary luxuries with a vibrant community spirit. Its strategic location provides residents with quick access to Dubai’s major highways, including Sheikh Mohammed Bin Zayed Road, making it easy to reach key areas such as Dubai Marina, Mall of the Emirates, and Dubai International Airport.

As the flagship project of HMB Homes, One Beverly stands out with its meticulously designed residences, offering 381 exquisite apartments which include studio, one-bedroom, and two-bedroom units with apartment prices starting from 6,50,000 AED & 8 commercial shops. Each home is crafted with an attention to detail that reflects the timeless elegance of Parisian Art, complemented by the dynamic spirit of Dubai. These residences are not merely living spaces but are designed as sanctuaries where every element from the opulent finishes to the cutting-edge technology has been thoughtfully curated to provide an unparalleled living experience.

“Our vision for One Beverly was to create a space that not only reflects the elegance of Paris but also embodies the dynamic spirit of Dubai,” said the CEO of HMB Homes Real Estate Development. “This project is a celebration of art, design, and the extraordinary lifestyle that Dubai offers. One Beverly stands as a beacon of unrivalled luxury, opulence, and glamor—a masterpiece that not only redefines grandeur but embodies it with every detail.”

One Beverly also sets itself apart with an array of 30+ world-class amenities designed to enhance the everyday lives of its residents. Among these are a state-of-the-art gym that caters to all fitness levels, an infinity swimming pool offering stunning panoramic views, and a beautifully landscaped jogging track for those who appreciate outdoor exercise. Social and recreational needs are equally well addressed, with a residents’ lounge providing a serene space for relaxation, an open-air cinema for entertainment under the stars, and a multi-purpose court accommodating various sports.

By blending luxury, comfort, and a vibrant community spirit, One Beverly truly redefines what it means to live in opulence.

OMNIYAT GROUP introduces BEYOND, an innovative development company aimed at redefining the broader luxury real estate market. As part of this venture, OMNIYAT GROUP has revealed a remarkable 11 million square-foot strategic project along the Jumeirah coastline, with 8 million square feet dedicated to BEYOND. This visionary project promises a breathtaking living experience, seamlessly integrating lush landscapes with cutting-edge luxury, all set against the stunning backdrop of Dubai’s waterfront.

BEYOND, the latest premium brand from OMNIYAT GROUP, will utilize the company’s extensive global talent network to revolutionize urban living. Its mission is to create a community where luxury, nature, and city life harmoniously blend, offering thoughtfully designed homes with exceptional quality and timely delivery. This approach meets the evolving desires of today’s affluent buyers, who are looking for more than financial investment — they seek homes that reflect their personal values and elevate their quality of life. BEYOND will focus on delivering modern luxury with excellence and innovation, catering to the sophisticated needs of the contemporary lifestyle.

The development will combine world-class amenities with interactive technologies aimed at creating a seamless personalization experience for new property owners. Strategically located on the serene Jumeirah coastline, this master development will showcase an innovative approach to urban planning, where natural beauty and contemporary elegance coexist in perfect harmony. With its carefully curated design, the project will feature extensive lush green spaces complemented by world-class hospitality and high-level amenities. This integration of nature with top-tier services ensures that every convenience and comfort is at the residents’ doorstep, enriching their daily lives and promoting well-being.

Mahdi Amjad, Founder and Executive Chairman of OMNIYAT GROUP, “OMNIYAT GROUP is proud to partner with Dubai Maritime City to bring this visionary development to life. This collaboration has enabled us to create an unparalleled destination within the wider master plan of Maritime City, providing the perfect foundation for us to deliver something truly unique and transformative. With BEYOND leading the way in the wider luxury real estate market, this development will set a new standard for urban living where nature, luxury, and innovation seamlessly come together.”

“BEYOND embodies the OMNIYAT GROUP’s relentless pursuit of excellence and our vision of being best-in-class, in every class. By extending our commitment to creating exceptional living experiences in the wider luxury real estate segment, BEYOND strives to raise standards and curate environments that make life better, making exceptional living more accessible. “added Amjad.

Ahmed Al Hammadi, Chief Operating Officer, Dubai Maritime City commented: “We are proud to announce a new milestone within the Maritime City development, working closely with real estate pioneers to deliver a reimagined master plan. OMNIYAT GROUP’s visionary destination within Maritime City represents the pinnacle of this transformation. Our collaboration with OMNIYAT GROUP has resulted in a unique and remarkable project that will set a new standard for Dubai’s waterfront development.”

By combining the expertise and vision of leading industry players, this development stands as a testament to the power of collaborative innovation. The project will redefine residential excellence with the launch of BEYOND, OMNIYAT GROUP’s new real estate brand, which will deliver 8 million square feet of luxury living spaces. Additionally, OMNIYAT GROUP’s other divisions will cover 3 million square feet, ensuring this iconic development offers a unique blend of luxury and ultra luxury living experiences.

Shamal Holding, the owner and visionary behind Dubai Harbour, has unveiled stunning new renderings of its Dubai Harbour Residences project, showcasing a limited collection of premium apartments and penthouses to be built at the heart of Dubai Harbour.

Along with these striking visuals, Shamal has also shared additional details about the development, including the array of amenities available to residents.

A visionary project

Dubai Harbour Residences seamlessly fuses modern architectural design with the timeless appeal of beachfront living. The newly revealed images highlight the thoughtfully crafted exterior, elegant communal spaces, and refined apartments and penthouses, promising an unmatched living experience. With breathtaking views of the Arabian Gulf, Dubai’s iconic skyline, and the magnificent harbour marinas just steps away, residents can enjoy a distinctive beachfront lifestyle in one of the world’s most vibrant cities.

The first beachfront low rise living experience in Dubai Harbour

Dubai Harbour Residences introduces a rare concept in luxury living with its low-rise community-focused design, where apartments are thoughtfully distributed across eight floors. This approach fosters a sense of intimacy and exclusivity, creating a close-knit environment. The low-rise structure allows for more personalized living spaces, abundant natural light, and enhanced privacy, while maintaining a connection to the surrounding maritime landscape. Residents will enjoy the best of both worlds – a tranquil, residential ambiance but with easy access to the vibrant energy and amenities of Dubai Harbour and all it has to offer. Within the residences, there will be 345 units including one, two, three, and four-bedroom apartments, and penthouses.

Modern cutting-edge and curated living spaces

The reception and lobby areas have been designed to impress from the moment residents and guests step inside. With soaring ceilings, sleek marble floors, and carefully curated art pieces, the space exudes a sense of premium living. The lobby’s design blends contemporary aesthetics with warm, inviting tones and nautical color palettes, creating an atmosphere that is both luxurious and welcoming. High-end furnishings, bespoke lighting fixtures and impeccable textures and finishings add to the sophisticated ambiance, while the grand entrance sets the tone for the exceptional living experience that awaits.

World-class amenities

An exceptional array of wellness options, dedicated family spaces, and personalized services will cater to the diverse needs of residents. The development features a rooftop adult-only infinity pool with outdoor dining area, state-of-the-art fitness center, yoga studio, hairdresser, beauty salon, and serene spa facilities designed to promote relaxation and well-being. For families, the community includes specially designed play areas, a children’s pool, learning area, and family lounges where parents and children can bond in a safe, nurturing environment. Residents will also benefit from a range of personalized services, including 24/7 concierge assistance and valet parking, ensuring a lifestyle of convenience and comfort.

Continued enhancement of Dubai Harbour

The Dubai Harbour Residences development is part of Shamal’s long-term investment strategy and commitment to creating new vibrant communities, as it continues to enhance the amenities and facilities in and around Dubai Harbour to bring premium beachfront and maritime lifestyle to residents. Located at the intersection of the iconic Palm Jumeirah and Bluewaters Island, the destination is within easy reach from the city’s world-famous attractions and includes the region’s largest marina, featuring close to 700 berths that can accommodate yachts up to 160m. As well as the new 1500-metre bridge providing direct access on and off the district, Shamal is delivering a range of enhancements across Dubai Harbour as part of its plans to offer the best integrated community in terms of quality of life and the well-being of residents and visitors.

“Dubai Harbour Residences is our first residential project at Dubai Harbour and is a bold statement of our commitment to creating extraordinary living experiences and new vibrant communities. The project promises to provide residents with a beachfront living unlike any other in the market,” said Abdulla Binhabtoor, Chief Executive Officer, Shamal Holding, Owner and Curator of Dubai Harbour. “This development is designed for the discerning buyer who is aspiring for prestige, and demands not just a home, but a lifestyle. Our vision is to create a unique space where residents can feel part of a community, enjoy the best of Dubai’s culture and have maritime experiences right at their doorstep. Dubai Harbour is the region’s most unique lifestyle offering and the new residences will be a perfect addition.”

Leading Dubai-based developer H&H Development has nearly two decades of experience creating upscale projects in the UAE and is working closely with Shamal Holding as the development manager. Miltos Bosinis, Chief Executive Officer, H&H Development, added, “Dubai Harbour Residences is perfectly located in the heart of Dubai, and is designed to cater to both individuals and families seeking a refined beachfront lifestyle with an urban feel. The newly released visuals offer a preview of the development’s exceptional design and comfort, showcasing an exclusive low-rise community. This unique enclave combines the best of both worlds, providing a serene and stylish development amidst the dynamic energy of Dubai Harbour.”

Internationally acclaimed Japanese firm Nikken Sekkei, famed for its innovative approach to architecture, has led on the project design. “Our vision for Dubai Harbour Residences was to create a harmonious blend of modern luxury and the natural beauty of the waterfront,” said Dr. Fadi Jabri, Regional Head/CEO of Nikken Sekkei Dubai FZ-LLC. “We’ve incorporated sleek, contemporary designs that maximise natural light and offer unparalleled panoramic views of the beach and sea. Every element has been thoughtfully crafted to provide residents with a serene and sophisticated living experience that reflects the dynamic spirit of Dubai.”

haus & haus Real Estate has unveiled an exclusive new ‘elevated villa’ in Saheel 1, located within the Arabian Ranches community, now available on the market for AED 16,750,000.

This unique property is an architectural marvel, elevated approximately two meters above a mature park, offering stunning views of lush greenery and creating a tranquil retreat far removed from the city’s hustle and bustle.

Spanning a built-up area of 5,000 sq.ft and set on a generous plot of 6,668 sq.ft, the villa is vacant on transfer, allowing for immediate occupancy. The property unveiled by haus & haus Real Estate features six spacious bedrooms, each with its own ensuite bathroom, along with several other standout features:

• Quiet and Private: Situated on a tranquil cul-de-sac, this villa offers a perfectly quiet and private plot.
• Bijou Outdoor Entertainment: Ideal for hosting gatherings, the outdoor space is designed for entertaining with elegance.
• Double Height Lobby: A grand entrance featuring a large skylight that floods the space with natural light.
• Smart Home Technology: Equipped with an inbuilt Sonos sound system and smart home features for modern living.
• Luxury Amenities:  Sunset cabana, olive tree, hidden outdoor shower, and a heater & chiller for the private saltwater pool

Khaleeji Bank has signed a Memorandum of Understanding (MoU) with Al Areen Holding Company, a major player in the real estate sector. This strategic partnership aims to enhance and streamline real estate financing for Al Areen’s projects.

Through this collaboration, the bank will provide innovative financial solutions tailored to clients interested in purchasing residential units within the “Tilal” Residential Project, part of Al Areen’s master plan. These financing solutions will include competitive profit rates and funding of up to 100% of the property’s value, along with a flexible grace period.

The signing ceremony took place at Khaleeji’s headquarters in the GFH Tower and was attended by Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji, Dr. Ahlam Zainal, CEO of Al Areen Holding Company, Mr. Ahmed Khalfan, Chief Marketing & Sales Officer of Al Areen Holding and CEO of the “Tilal” Residential Project, alongside other officials from both organizations.

On this occasion, Ms. Ameera Ahmed Al Abbasi expressed her gratification in this collaboration, stating “This strategic partnership with Al Areen Holding Company embodies our firm commitment to supporting the growth of the real estate sector in the Kingdom of Bahrain. At Khaleeji, we always strive to provide innovative financing offers that meet our clients’ needs and ambitions, thereby enhancing their experience in the real estate market. Through this partnership, we will ensure the provision of a comprehensive range of financing solutions, including competitive profit rates and a flexible grace period, to facilitate the ownership process for our clients.”

She added “The ‘Tilal’ Residential Project exemplifies quality and modern design, providing an ideal living and investment environment. We are also committed to providing a satisfying and personalized banking experience for every client. We hope that our clients will take advantage of these outstanding opportunities made through this initiative, which reflects our values of innovation and sustainable support for economic growth. We are pleased to invite clients interested in owning units in this leading housing project to visit the promotional stand between 19th – 29th September at City Center Bahrain, to learn about the financing solutions available under this agreement.”

On her part, Dr. Ahlam Zainal, CEO of Al Areen Holding Company, stated: “We are pleased to announce our cooperation with Khaleeji Bank to provide a range of financing options that enable our customers to own a home in the Tilal project, the third residential development within the Al Areen masterplan. This project will serve as an exceptional tourist and residential destination, thanks to its distinguished components and services setting new standards in urban living.”

She added: “At Al Areen Holding Company, we are committed to offering our customers the best services and experiences. Our partnership with Khaleeji Bank reflects our keenness to meet our customers’ aspirations and exceeding their expectations. We pride ourselves on delivering a seamless and personalized experience, from home selection and ownership to building long-term relationships.”

Mr. Ahmed Khalfan, Chief Marketing and Sales Officer of Al Areen Holding and CEO of Tilal Residential Project, commented: “This partnership allows us to provide added value to our customers by simplifying the steps required to obtain their desired residential units, making it a more seamless process. The Tilal Residential Project is a pioneering initiative that underscores our commitment to high standards of quality and innovation in the real estate sector. We believe this agreement will enhance our ability to meet market demands and attract customers seeking their dream homes, especially within the Tilal Residential Project, which presents a unique array of options, including luxury villas and townhouses designed according to the highest international standards, with sizes ranging from 3 to 5 bedrooms, each featuring modern designs aligned with contemporary trends.”

He added: “On this occasion, I extend a special invitation to those interested in our offerings for owning a villa or townhouse in Tilal Residential Project to visit our stand at the City Centre Bahrain (near Debenhams) from September 19 to 29, where they can learn more about the project and book the most suitable options in the masterplan.”

It is noteworthy that “Tilal” Residential Project offers a unique living experience amidst sustainable surroundings, featuring vast green spaces and picturesque views of the Al Areen Wildlife Park. Covering an area of 93,600 square meters, the project includes luxury villas and townhouses designed to meet the needs of Bahraini and GCC families, allowing for customization options. Units are available with the option of 3, 4, and 5 bedrooms, each incorporating modern designs in line with contemporary trends.

Khaleeji is a leading Islamic Bank that strives to achieve clients’ ambitions through an Islamic Banking model that offers a comprehensive range of high quality Shari’a-complaint banking services and investment opportunities to individuals and companies.

Visit Khaleeji Bank’s website at www.khaleeji.bank and follow the bank’s verified social media accounts on Instagram, Facebook, LinkedIn, YouTube, and X platforms to stay updated on the latest news and offers.

Al Areen Holding is a leading real estate development company in Bahrain, dedicated to creating exceptional residential, commercial and hospitality projects. With a commitment to quality, innovation and sustainability, Al Areen Holding strives to exceed customer expectations and contribute to the economic growth of the Kingdom of Bahrain. The company’s diverse portfolio showcases its expertise and vision for the future of Bahrain’s real estate sector.

Sankari, a premier luxury real estate developer in Dubai, is thrilled to announce a groundbreaking partnership with IHG® Hotels & Resorts, one of the world’s leading hospitality companies, to launch the world’s first Regent Residences in Dubai.

This flagship development, Regent Residences Dubai – Sankari Place, will be located in Dubai’s prestigious Marasi Marina neighborhood and will feature 63 full-floor upper luxury residences as well as ten floating homes. This project marks a significant milestone for both Sankari and IHG, being the first Regent-managed standalone residential project of its kind, set to transform the definition of luxury lifestyle. “The best talent from the industry has been brought together to deliver on the Sankari family’s vision,” says Mark Phoenix, CEO of Sankari.

The collaboration between Sankari and IHG marks a landmark moment for both parties, blending the innovative vision of Sankari with the esteemed legacy of the Regent brand under the IHG portfolio. Regent Residences Dubai – Sankari Place is set to become a premier destination, establishing one of the most sought-after residential addresses, embodying true modern luxury, in the UAE. This development underscores the commitment of both Sankari and IHG to elevate the standard of premium hospitality experiences within a residential ecosystem.

Introducing Sankari Place

Situated in the heart of Marasi Marina, Sankari Place is envisioned as an exclusive destination for upper luxury living. This prominent waterfront peninsula offers residents unparalleled views of Dubai Creek and Downtown Dubai, providing a perfect blend of serenity and urban convenience. The concept of Sankari Place is designed to create an exclusive and opulent living experience, with top-tier amenities and services that cater to the refined tastes of modern luxury homeowners.

Mohammed Sankari, Chairman of Sankari, shares his personal connection to the project: “Sankari Place is deeply significant to me and my family. This development is more than just a project; it is the foundation of a legacy we are building in honor of my father. It embodies our family’s commitment to excellence and innovation in real estate, and we are proud to see our vision come to life in such a prestigious location.”

Regent – A Legacy of Luxury

The Regent brand, renowned for its sophistication and elegance, boasts a storied history with iconic properties such as the legendary Carlton Cannes, a destination for Hollywood stars and the global elite. Regent’s portfolio includes 10 properties worldwide, located in some of the world’s most premier urban centers: Beijing, Berlin, Cannes, Chongqing, Hong Kong, Phu Quoc, Porto Montenegro, Shanghai on the Bund, Shanghai Pudong, and Taipei. Regent Residences Dubai – Sankari Place will be their first standalone residential flagship project developed from inception. This landmark project marks the beginning of Regent’s vision to develop their branded residences footprint in the region.

IHG Hotels & Resorts – True Hospitality for Good

IHG Hotels & Resorts, with its vast portfolio of brands, continues to expand its presence in the luxury sector. Haitham Mattar, Managing Director, India, Middle East & Africa, IHG, states, “Regent Residences Dubai – Sankari Place represents a unique opportunity for IHG to strengthen our offering in the branded residential space in Dubai. We trust our partnership with Sankari will drive forward our success in this remarkable city and are committed to elevating luxury living options for Dubai residents.”

Mark Phoenix of Sankari comments, “We are thrilled to partner with IHG, a world-renowned industry leader, to bring this vision to life. This collaboration sets the stage for a state-of-the-art residential complex with the highest service standards in the UAE, offering owners and residents an exceptional hospitality experience in their homes. We proudly introduce this area as Sankari Place.”

Project Information

The Regent Residences Dubai – Sankari Place will feature 63 full-floor residences, each equipped with a private swimming pool and expansive outdoor living spaces. The architectural design, conceived by Foster + Partners, reflects opulent living with a cascading twin-tower structure. Residents will have access to world-class facilities, including health and fitness centers, a golf simulator, a cinema, and gaming room. For sports enthusiasts, there are tennis and padel courts, while lovers of fine dining can enjoy a private dining room, cigar lounge, and cellar. The development also includes a business lounge, a large spa, and a residents’ lounge, ensuring every need is catered to.

Dr. Sankari, Founder and Chairman of Sankari, concludes, “This flagship project is a testament to our vision of creating developments that leave a lasting impact. We are committed to building a legacy that holds value and demands respect, and our collaboration with IHG on Regent Residences Dubai – Sankari Place is a significant step towards realizing this dream.”

Barratt London has introduced a new two-bedroom show apartment at Bermondsey Heights, offering potential buyers from around the world, including the Gulf region, a glimpse into the contemporary lifestyle its homes provide. Ideally located in Zone 2, this 26-storey development draws inspiration from the vibrant and creative atmosphere of southeast London’s thriving business community.

Designed by BLOCC Interiors, one of the UK’s top interior design firms, the show apartment reflects Bermondsey’s unique character, showcasing a diverse selection of local brands, ranging from emerging boutiques to established retailers.

Bermondsey Heights is expected to attract considerable interest from Middle Eastern buyers, many of whom view London’s booming real estate market as a prime investment opportunity. Research by Al Rayan Bank reveals that 89% of investors from Saudi Arabia, Qatar, and the UAE consider the UK a top priority market.

Suzanne Thomas, Creative Sales Director at BLOCC Interiors, commented: “We’ve crafted a space that not only meets but exceeds the expectations of investors and homebuyers alike. Offering a perfect blend of functionality and allure, we have embodied the epitome of London living, where every detail is thoughtfully curated to cater to a wide audience seeking the ultimate urban retreat.”

The UK is currently embracing a wide range of design trends, including global influences from Japan and Scandinavia, biophilic designs with an emphasis on wellbeing, and sustainable interiors equipped for modern life. Interior designers in the UK are focusing more on creativity and innovation, with a strong emphasis on technology integration and natural materials, such as reclaimed wood and eco-friendly composites.

Many of these trends are making their way to the UAE, a region known for its love of luxury and cutting-edge design. According to Suzanne Thomas, these trends are often adapted to suit the unique cultural and environmental context of the UAE.

She said: “The emphasis on sustainability in the UK is resonating in the UAE for instance, but with a focus on energy-efficient cooling systems and sustainable materials that perform well in hot climates. Similarly, the UK’s blend of minimalism and maximalism is being reinterpreted in the UAE with a more opulent and grandiose flair.

“We also foresee an increased fusion of modernity with cultural elements, as well as a greater emphasis on wellness-oriented spaces that cater to the high-end market’s demand for luxury and comfort.”

Barratt London’s Bermondsey Heights homes feature open-plan designs, providing a seamless flow from the kitchens to the dining and living areas. The apartments’ stylish kitchens are replete with integrated appliances, while outdoor winter gardens extend spaces further, offering areas suitable for a range of activities, from entertaining guests to yoga practice.

The main tower at Bermondsey Heights will stand 26 storeys high, bringing 163 private one-, two- and three-bedroom apartments to the market. Residents will enjoy panoramic views of London’s iconic cityscape while benefitting from landscaped courtyard gardens, roof terraces and a children’s play area.

Stuart Leslie, International Sales and Marketing Director at Barratt London, said: “London is known internationally as a leading tastemaker, especially in the Gulf, so it’s important we reflect this with our show apartments. We understand that a first impression can have a lasting impact. By working with BLOCC Interiors, we want to showcase how our homes can highlight the latest interior trends while also creating functional spaces and championing local businesses.”

London’s appeal in the Gulf underscores its reputation as a stable market for property buyers. Analysts from the Bank of London and the Middle East (BLME) predict that investors from the region will contribute $3.2 billion to the UK’s real estate market in 2024.

Several factors contribute to Bermondsey Heights’ appeal to Middle East buyers. Situated in prime position between Lambeth and Southwark, the development is within easy reach of many of the capital’s top destinations, including Tower Bridge, The Shard and Borough Market. Other sought-after districts such as Chelsea and Fulham, meanwhile, are just a short journey across the River Thames.

Bermondsey Heights is also well connected with numerous bus services, and South Bermondsey railway station is only a 10-minute walk away. From there, it’s just one stop to the major travel hub of London Bridge Station, which offers a variety of National Rail services as well as London Underground Jubilee and Northern Line connections, linking with King’s Cross, Brighton and the South Coast, the North of England, and Scotland.

Prices for homes at Barratt London’s Bermondsey Heights begin at £449,000 ($582,500) for a one-bedroom apartment.

Refine announced its appointment as the official representative for the Fairmont Residences Solara Tower in Downtown Dubai. Investors and potential residents are invited to explore this outstanding off-plan development, with the sales center set to officially open on Tuesday, 10th September at Emaar Square Building 6.

This collaboration between Refine, Sol Properties, and the globally renowned luxury brand Fairmont highlights Refine’s dedication to shaping the future of Dubai’s real estate market and offering investors the exclusive advantages of branded residence ownership.

Thomas Wan, Managing Partner of Refine, expressed his excitement about the partnership: “We are honored to represent such an iconic project in one of Dubai’s most coveted locations. The Fairmont Residences Solara Tower Dubai exemplifies our vision of redefining urban luxury, offering residents a blend of nature, elegance, and state-of-the-art amenities. This collaboration further strengthens our portfolio and our mission to bring world-class developments to discerning investors and residents.”

Fairmont Residences Solara Tower represents the pinnacle of urban luxury, combining innovative Japanese design, private gardens in the apartments and Fairmont’s legendary hospitality. Situated just steps away from the Burj Khalifa, Dubai Mall, and Dubai Opera, the Fairmont Solara Tower offers an unparalleled living experience in the heart of one of the world’s most vibrant cities. Fairmont, a byword for exceptional quality, luxury and hospitality, lends its exclusive marque to the exclusive development by Sol Properties, located in the heart of Dubai.

Project Highlights include:

• Prime location: Situated in Downtown Dubai, the Fairmont Residences Solara Tower places residents just minutes away from the city’s most renowned attractions, including Burj Khalifa, Dubai Mall, and Jumeirah Beach.
• Luxurious residences: The tower features 246 residences, including 1-4 bedroom apartments and exclusive 5-bedroom duplex penthouses with private rooftops. Each unit offers panoramic views of Dubai’s most iconic landmarks, including the Burj Khalifa, Dubai Fountain, and Dubai Water Canal.
• Innovative design: The residences are designed with extensive green spaces that bring nature into the living environment. Expansive terraces and large open areas maximise natural light and provide breathtaking views of Dubai’s shimmering skyline.
• Exceptional amenities: Residents will enjoy a 60m swimming pool, private dining options, Zen gardens, aqua therapy, a spa with massage rooms, steam rooms, and saunas, as well as a rooftop pool offering stunning views of Downtown Dubai. Additional amenities include a cinema room, golf simulator, padel court, and indoor/outdoor yoga areas.
• Signature service: Fairmont’s legendary service ensures that every resident’s needs are met with precision and care, enhanced by Accor’s Diamond Global Privileges and Network, offering exclusive access to more than 5,500 hotels and resorts worldwide.

Representing Fairmont Residences Solara Tower highlights Refine’s contribution to the burgeoning real estate market of Dubai, celebrating the city’s vibrant lifestyle and luxury living.

Emaar the Economic City (EEC), the master developer behind King Abdullah Economic City (KAEC), has unveiled a transformative business strategy, approved by the Board of Directors and aligned with Saudi Vision 2030. This strategy will be supported by a SAR 8.7 billion Capital Optimization Plan (COP), which includes the restructuring of EEC’s SAR 3.8 billion bank debt, the full conversion of SAR 4.0 billion in debt owed to the Public Investment Fund (PIF) into share capital, and a new SAR 1.0 billion convertible shareholder facility from PIF. Additionally, EEC plans to pursue a capital reduction to eliminate its accumulated losses.

The COP, developed through thorough assessment and analysis over the past two years, aims to stabilize EEC’s financial and operational platforms, optimize its capital structure, and create a solid foundation for long-term value creation and maximization for shareholders, clients, and stakeholders.

Capital Optimisation Plan to provide a strong platform for holistic turnaround

The COP reinforces EEC’s robust partnership with key stakeholders including i) one of its major shareholders, PIF, and ii) its commercial lenders (Alinma Bank, Saudi Awwal Bank, Banque Saudi Fransi and Saudi National Bank). The COP’s four key components each offer independent and specific benefits to EEC:

1. A restructuring and syndication of all EEC’s existing bilateral credit facilities with Alinma Bank, Saudi Awwal Bank, Banque Saudi Fransi and Saudi National Bank (together the “Banks”) amounting to SAR 3.8 billion. This will re-align the repayment schedules for EEC’s bank debt facilities to match the Company’s investment plan, turnaround strategy and liquidity profile. The debt will be governed under one new syndicated facility agreement and is fully Shari’a-compliant.
2. The full conversion to share capital of SAR 4.0 billion of EEC’s debt, representing a SAR 2.9 billion facility from the Ministry of Finance (“MoF”), which was recently novated to PIF, and a SAR 1.1 billion shareholder loan from PIF. This conversion will significantly de-leverage EEC’s balance sheet and reduce interest expense with the added benefit of shoring up the Company’s share capital position.
3. A new convertible shareholder facility of up to SAR 1.0 billion from PIF to bolster the Company’s liquidity position and provide adequate funding over the short- and medium-term to invest in critical and transformative growth initiatives, which are integral to the successful turnaround of EEC.
4. A capital decrease, to offset EEC’s accumulated losses. The capital decrease will have no adverse impact on the operations of the Company, but is designed to stabilize EEC’s financial position, creating a healthier balance sheet and greater potential for future growth.

It should be noted that both the debt conversion and the capital decrease remain subject to regulatory and shareholder approvals, while the restructuring and syndication of the existing bilateral credit facilities and PIF’s new shareholder loan are not binding at this stage and are subject to finalization of, and entry to, binding long-form documentation with related parties. EEC will make further announcements to the market in due course.

Strategic focus: aligning with Saudi Vision 2030 by enhancing key sectors for development

The COP enables EEC to focus on its strategic priorities for the Company and KAEC, which include industrial and logistics businesses, non-industrial knowledge-based sectors, tourism and residential real estate. With the strategy subject to continual refinement to tap dynamic market opportunities, EEC will prioritise developing an attractive ecosystem for industrial, logistics and non-industrial businesses to flourish by developing sector specialised facilities and services for them to access. In tourism, EEC will focus on enhancing the quality and diversity of visitor services and experiences, attracting events and cultivating diverse entertainment offerings, and establishing a domestic and regional profile for the City as a premier destination to visit. Objectives for residential real estate are to provide a range of quality housing options for a wide range of resident segments and to ensure access to high quality social infrastructure and services.

Key foundations for achieving strategic priorities

Strategic priorities for EEC will focus on both real estate and operations. The three strategic pillars of EEC’s real estate business are city master development, real estate development and asset management. Within these, the Company will focus on attracting and retaining reputable real estate developers and investors and executing a more efficient and optimised master plan for KAEC. EEC will selectively execute signature projects independently or in collaboration with partners, upgrade and monetise current real estate inventory, and improve the performance of assets by partnering with best-in-class operators. For Special Economic Zone (“SEZ”) operations, EEC will seek to leverage reputable Industrial Valley tenants to attract more businesses.

The longer-term focus will be to transform and grow by achieving positive cash flows and investing in residential projects, growing the asset management business to increase exposure to achieve sustainable performance. EEC is prioritizing the continued upgrade of KAEC utilities with particular focus on infrastructure, paving the way for investors to set up and invest in projects, and contributing to a more stable and efficient operating model.

Mr. Fahad Al Saif, Chairman of EEC, commented: “EEC stands at a vital inflection point, as we pivot from a period of transition to one of opportunity. The implementation of the COP, which underpins EEC’s Board-approved strategy, will enable the Company to capitalise on available opportunities to align its direction with Saudi Vision 2030. It also provides the blueprint for a stable platform for growth, focused on unlocking the full potential of KAEC and enhancing the sustainability of our business. We are setting the stage for a transformation that will not only drive value creation, but also redefine our role in the Kingdom to achieve the goals of Vision 2030.”

Mr. Abdulaziz Ibrahim Alnowaiser, CEO of EEC, said: “The implementation of our Capital Optimisation Plan is a pivotal moment. This carefully devised plan does more than fortify our balance sheet; it sets the stage for us to seize opportunities with greater agility. As we undertake the strategic rebalancing of our financial framework, our objective is clear: to improve our leverage ratios and bolster overall financial health.”

“In parallel, we are evaluating a series of further structural and functional measures to ensure EEC returns to full financial health, strengthening our key relationships with various stakeholders, in addition to refreshing our long-term strategy periodically to establish a clear roadmap for reviving the Company’s ability to achieve its core mission of developing this exceptional property and delivering shareholder value.”

Outlook

EEC and KAEC are aligned with the transformative programs and initiatives of Saudi Vision 2030, aligning KAEC’s sectors and businesses with the Vision for all stakeholders, positioning both as dynamic and forward-looking “vision-ready” platforms. The City’s recently granted Special Economic Zone status within the Kingdom is expected to better position KAEC to attract businesses and residents. Meanwhile, the development of the King Abdullah Port, which is located inside the City and a major maritime hub for Saudi Arabia and the wider region, is expected to further support growth at KAEC, and create a positive spillover effect for the KAEC Special Economic Zone contained within the Industrial Valley. The Company has also enhanced its human capital by acquiring top talents, who are mostly Saudi, led by CEO Mr. Abdulaziz Ibrahim Alnowaiser and team members.

Currently, KAEC holds a number of high-end automotive industry players, and one of the most significant Heating, Ventilation and Air Conditioning (HVAC) manufacturing plants in the Middle East, which exports its products to the world through King Abdullah Port and is a hub for some of the top pharmaceutical manufacturers in the region. Moving forward, KAEC plans to offer more facilities to industrial players, including logistical, residential and commercial facilities, further enhancing its business ecosystem and supporting the growth of its partners.

Recently confirmed high-profile projects at KAEC include the King Abdullah Economic City Stadium, a 45,000-seat sports arena set to open by 2032 and taking its design inspiration from the growth and adaptation of Red Sea coral reefs. With the stadium expected mostly to be used for football (including FIFA World Cup 2034), concerts and exhibitions, it will be a multi-functional hub that includes hotels, mixed-use areas, and sports clinics, and significantly boosts KAEC’s potential to become a world-class sports, entertainment and tourism destination.

Meanwhile, key hospitality projects already underway include a partnership with Vivienda to establish a waterfront resort on a 29,000sqm plot; with Envi to develop a 70,000sqm destination; and with FTG Development for the Rixos at Emerald Shores project located in KAEC’s Al Murooj district, which will be built on a 275,000sqm plot and expects to welcome as many as 320,000 visitors annually following an initial ramp-up period.

During the course of the first half of 2024, EEC has made important strides in business development, cultivating a robust pipeline of potential investors in KAEC and building momentum. The Company is also investing in a refurbishment project to bolster the sales of its residential units. Throughout H1 2024, extensive cost controls and cost optimisation mechanisms have been implemented, resulting in material savings in operational and business-as-usual costs, while enabling the Company to invest in structural fixes and performance enhancement activities.

Moelis & Company is serving as independent advisor to EEC on its debt restructuring. SNB Capital Company is serving as Financial Advisor to EEC for its capital decrease and the debt conversion. Khoshaim & Associates is serving as Legal Advisor to EEC in relation to all aspects of the Capital Optimisation Plan.