220 Suburbs Record $1m-Plus For Every House Sold

Lincoln Star Real Estate Development LLC, an upcoming leading name in the UAE real estate market, announced breaking ground for their new luxury residential project in Dubai South with targeted hand over in Q4 2025.

The project will offer a payment plan for investors which envisages 72-month interest-free payment with monthly 1% installments.  The development will have a total of 48 residential units including townhouses, studio, one-bedrooms and two-bedrooms.

“Lincoln Star Residence is a testament to our belief in the potential of Dubai’s real estate market. We are confident that this project will set a new standard of luxury comfortable living as well as offer a compelling investment opportunity,” said Mr. Ovais Latif, CEO and Founding Partner, Lincoln Star Real Estate Development LLC.

He said the luxurious residential development will focus on sustainability and innovation which will redefine modern living in Dubai with its unique blend of innovative design and world-class amenities.

“We are thrilled to witness the commencement of construction on Lincoln Star Residence. This project represents our commitment to delivering exceptional living experiences to our residents. Our team has worked tirelessly to create a development that not only meets but also exceeds the expectations of buyers,” said Mr. Ankit Alagh, COO and Founding Partner, Lincoln Star Real Estate Development LLC.

Additionally, the project showcased a positive element of sustainability by conducting a plantation drive at the groundbreaking ceremony. The initiative enhances the project’s environmental appeal and foster a sense of community, encouraging residents to contribute to a greener future.

The project’s location in Dubai South, with potential for high ROI is in the proximity to Al Maktoum International Airport, the world’s largest airport. The project is also conveniently located near school, hospital, clinic and shopping mall. Furthermore, the project is in proximity to Expo 2020 Dubai, a world-class exhibition center showcasing innovation and culture.

The development features a range of luxurious amenities, including a state-of-the-art gym, swimming pools, landscaped gardens, event areas, and more. These amenities, combined with the project’s prime location and sustainable features, make Lincoln Star Residence an attractive investment opportunity for those seeking a high-quality, comfortable, and family- friendly lifestyle.

Dubai’s real estate market is renowned for its luxury, attracting investors from across the globe seeking high-end properties. MS Homes Developers, led by CEO Mohsin Sheikhani, has successfully entered this competitive landscape, focusing on creating premium properties that blend exclusivity with accessibility.

With a strong foundation in large-scale residential and commercial projects in Pakistan, MS Homes developers has brought its expertise to Dubai, delivering high-quality developments designed to meet the needs of both local and international buyers.

Mr. Sheikhani shares, in this interview, insights into what drives the company’s success, the challenges they face, and their exciting plans for the future in one of the world’s most dynamic real estate market.

MS Homes is making its debut in Dubai with the launch of ILUKA Residences on Dubai Islands. Can you tell us more about this project and what makes it stand out in the competitive real estate market?

ILUKA Residences represents our commitment to delivering luxury living in one of the city’s most sought-after locations. The project is an eight-floor residential building located on Marina Boulevard, right in the heart of Dubai Islands. It features 57 luxury apartments, ranging from 1 to 4 bedrooms, with a handover scheduled for the third quarter of 2026.

ILUKA Residences stands out for its exceptional luxury and unparalleled amenities. Each apartment comes with its private pool, in addition to the infinity pool we’ve designed to offer an endless view of the horizon, along with picturesque views of the Marina and Dubai skyline, providing a serene escape. There’s a focus on wellness and community, with features like a fitness studio, yoga area, urban forest, cinema, and outdoor barbeque areas. The location is another key aspect—residents will enjoy easy access to Dubai’s top destinations, from business hubs to serene waterfronts. ILUKA Residences combines modern comfort with luxury, creating a truly elevated living experience.

What inspired MS Homes to focus on creating luxurious waterfront properties in Dubai, and how did your previous experience influence this vision?

Dubai is characteristically a luxury market, attracting investors from around the world who seek high-end products and experiences. The city offers a wide range of construction options, with prices varying significantly based on the level of luxury—ranging from AED 100 to AED 2,500 per square meter. As a company our background includes extensive reconstruction work in Pakistan, particularly in Islamabad and Karachi. When we arrived in Dubai, we recognized the city’s demand for luxury properties, particularly in waterfront locations.

This inspired us to leverage our expertise in creating luxurious environments. We focused on designing waterfront properties in areas like Dubai Island, which is strategically located near the old city, close to Sheikh Zayed Road, the airport, and other key locations. The area is well-developed, featuring beaches, golf courses, and communities with hotels, along with the upcoming Al Nakheel Mall, which will be the largest in the area.

Our vision was to design properties that offer luxury while being more accessible compared to other high-end areas. We aimed to create an attractive option for those seeking luxurious waterfront living that balances exclusivity with a convenient location close to the heart of the city. This approach allows us to cater to discerning investors who desire both luxury and proximity to Dubai’s key attractions and amenities.

What differentiates MS Homes from other high-end real estate developers in the market?

In a market saturated with numerous developers offering numerous properties, we set ourselves apart by focusing on delivering the highest quality in every aspect of our projects. One of our key differentiators is the attention to detail in our amenities, which are designed to provide an exceptional experience. Each apartment features its own private pool on the balcony and comes with a fully equipped kitchen, ensuring residents enjoy top-tier amenities that enhance their living experience.

As our first project in Dubai, we committed to delivering higher quality, aiming to exceed the standards set by other developers. Our goal is to offer not just luxury, but also a living environment that reflects our dedication to excellence, making our properties a distinctive choice in the high-end real estate market.

MS Homes has achieved record-breaking sales in Pakistan and now moved into the Dubai market. What do you attribute this success to, and what strategies have driven it?

A home is a fundamental need for everyone. Over the years, we’ve delivered thousands of homes and commercial buildings across various cities in Pakistan. This experience gave us the confidence to expand into Dubai with the same commitment to excellence.

Our success can be attributed to several key factors. First, we focus on delivering top-tier quality in all our projects, ensuring timely delivery and offering flexible payment plans that make luxury more accessible. By combining affordability with luxury and maintaining a strong focus on meeting deadlines, we have built trust with our clients.

What challenges have you faced, and how have you adapted to meet the needs of your clients?

Dubai attracts people from all over the world—Europe, Southeast Asia, Africa, and beyond—drawn by the city’s infrastructure, security, and luxury. The biggest challenges we face are maintaining high construction quality and delivering projects on time. Timely delivery is critical for building trust and meeting our commitments.

As Dubai continues to grow, we see more international interest, and because the city offering more affordable prices compared to other global markets like London or Mumbai, the demand remains strong. We adapt by ensuring we uphold these standards to meet the expectations of a global clientele.

What advice would you give to someone, whether local or an international investor, who is considering purchasing a home in Dubai?

If you’re coming from anywhere in the world, my advice is to first explore the market and understand how it’s moving. Dubai offers different types of markets—luxury, mid-range, and more affordable options—so it really depends on your budget and what you’re looking for. The government’s involvement ensures security.

Moreover, Dubai offers attractive rental income, typically between 7% and 7.5% for our project is specific, which is highly competitive globally. The city also provides a secure environment with strong government oversight, making it easy to invest and manage properties. With the government’s long-term vision extending to 2050, Dubai remains a stable and promising market for real estate investment.

What are your future plans, both short-term and long-term?

In the short term, once we start construction on our current project, we plan to launch up to eight additional projects within the next two years. In fact, we’re aiming to begin another project in just a few months. We’re also looking at opportunities in areas like Dubai South and Meydan, with plans to initiate two to three more projects this year and another four next year, all based on growing market demand.

For the long term, we see continuous growth in the Dubai market over the next five to six years. The city offers diverse opportunities with different types of properties—waterfront areas, central locations like Downtown, and emerging areas like Jebel Ali—all catering to a variety of buyers. We believe that once people experience Dubai, they are drawn back, not just for investment, but for a lifestyle they fall in love with. Our goal is to continue growing with the market, while always adapting to its unique demands and opportunities.

In the fast-paced world of urban development and real estate, Cityscape Global 2024, taking place from November 11-14, 2024, in Riyadh, Saudi Arabia, promises to be a defining moment for the future of cities. This event unites global innovators, architects, and investors to explore revolutionary ideas and transformative urban solutions.

More than just an event, it’s a hub of creativity where groundbreaking projects take center stage, including the cutting-edge Stadiums & Mega Events Zone, showcasing visionary sports and entertainment projects. This year’s event also features exciting house giveaways, alongside insightful discussions on sustainable cities, smart infrastructure, and visionary urban planning that will shape the next era of global real estate.

Attendees can expect to engage with world-renowned speakers, including top government officials, international real estate developers, and architects who are building the world’s most ambitious projects in the Kingdom.

Through various keynote sessions, panels, and exhibits, the event will cover a wide range of essential topics from urban sustainability to the integration of AI and technology in city planning.

One of the major attractions is the exhibit showcasing the NEOM project, a cornerstone of Saudi Arabia’s Vision 2030. This ambitious smart city, designed to be powered by renewable energy and embedded with the latest technological innovations, reflects the future of urban living. In addition, the exhibition floor will feature innovative real estate projects from all over the world, presenting the latest in residential, commercial, and mixed-use developments – each with a focus on sustainability, livability, and resilience.

In addition to the exhibitions and speakers, Cityscape Global 2024 is designed to foster connections between industry professionals. It will provide opportunities for networking, strategic partnerships, and collaboration. The event serves as a meeting point where developers, investors, and urban planners can discuss upcoming projects and forge alliances to bring their visionary ideas to life.

Cityscape Global 2024 is more than just an industry gathering—it’s a glimpse into the cities of tomorrow, offering a platform for the world’s greatest minds in real estate to come together and rethink how urban spaces are designed, built, and sustained for future generations. It’s the place where innovative ideas will take root and inspire the next wave of global real estate transformations.

In a significant development for Dubai’s dynamic real estate sector, a sophisticated new workspace emerges that bridges digital innovation with contemporary design. Unique Properties, a leading real estate agency in Dubai since 2008, has recently unveiled its flagship office, spanning 15,000 square feet and completed in just 100 days. This space sets a new benchmark for innovative workspace design in the GCC region.

Designed by the award-winning architectural firm AVIVA Collective, part of Unique Holdings, the office embodies a fusion of global design influences and functional elegance, telling a story through its carefully curated spaces. The reception area, with its multi-tiered logo crafted from stone, bronze, and chrome, forms a sculptural centerpiece that establishes a sophisticated tone for the entire space.

Innovation at the Heart of Design

Led by AVIVA Collective’s CEO, Dara Young, the project reimagines the modern workplace as a dynamic hub for real estate excellence. The design creates an environment that champions innovation, collaboration, and client service – essential elements for success in today’s competitive market.

“Our vision was to create a space that embodies the future of real estate operations,” said Dara Young. “This office represents a new era in workplace design, establishing a new center for innovation in real estate where innovation, technology, and human-centric spaces converge to create an exceptional environment for both clients and professionals. It demonstrates how thoughtful design can transform the way property professionals engage with clients and conduct business in today’s evolving market.”

Blending Global Design with Local Sensibilities

Drawing on her multicultural experiences, particularly her transition from New York to Dubai, Dara Young has crafted a space that balances international design trends with local cultural elements. Luxurious materials such as Taj Mahal Quartzite, Champagne Bronze Patina, and Chamcha wood adorn the office, reflecting Dubai’s cosmopolitan nature and reputation for opulence.

The office seamlessly integrates various work settings, from elegant management suites to dynamic hot-desking areas, each thoughtfully designed to foster different modes of working. Private meeting rooms, with stippled metal details and droplet lighting, offer floor-to-ceiling views of the city and Arabian Gulf, while open collaboration areas encourage both formal discussions and casual interactions.

Meeting the Demands of Dubai’s Dynamic Real Estate Market

The new office accommodates over 250 brokers and 80 back-office staff, reflecting the robust growth in Dubai’s real estate sector. Spaces for client functions are also integrated, supporting the networking needs essential in this competitive market.

Arash Jalili, CEO of Unique Properties, commented: “Our new office space reflects our commitment to innovation in Dubai’s ever-evolving real estate landscape. As the market continues to show strong growth and attract global investors, we needed a space that supports our team in delivering exceptional service.”

Enhancing Productivity and Well-being

Reflecting the growing emphasis on workplace wellness in the GCC, the design incorporates several features aimed at enhancing both productivity and well-being. Breakout spaces allow employees to relax and recharge, while the abundant use of natural light and plant life creates a healthier, more pleasant working environment, proven to reduce stress and improve overall mood.

Furthermore, Ergonomic furniture throughout the office ensures that employees can work comfortably and efficiently, reducing the risk of physical strain associated with long hours at a desk. These thoughtful elements come together to foster a workspace that supports both professional performance and personal well-being.

“In today’s competitive real estate market, attracting and retaining top talent is crucial,” Young explained. “Our design aims to create an environment where people feel comfortable, inspired, and productive – essential factors for success in Dubai’s dynamic real estate market,”

Setting New Standards in Office Design

The partnership between Unique Properties and AVIVA Collective exemplifies how thoughtful design can create inspiring and efficient work environments that adapt to changing market needs. The space doesn’t just meet the current demands of Dubai’s fast-paced property sector – it anticipates the future of real estate operations. As Dubai continues to position itself as a global business hub, this innovative office serves as a model for future-forward workplace design in the region.

Average asking rents in apartments listed on Qatar real estate platform hapondo have increased in key neighborhoods across Qatar, with the prime apartment markets, including The Pearl, West Bay and Legtaifiya, and Lusail, witnessing the most significant rental rate hike seen during the third quarter of the year, according to the online marketplace.

The average rent for a one-bedroom listed on hapondo in West Bay increased by more than 7% to QAR 9,760/month and by 4.5% to QAR 7,980/month in Marina District, Lusail. In the two-bedroom apartment category, both West Bay and Marina have also seen significant increases in rent quarter-on-quarter.

Meanwhile, rents in The Pearl have remained stable at QAR 8,490/month (one-bedroom) and QAR 11,500/month (two-bedroom). In Fox Hills, the average 1BR rent remained at the QAR 5,800/month level while the average 2BR rent shrunk by nearly 3%.

Unlike Q2 when rents in West Bay and Marina decreased, the latest quarter saw better performance for one-bedroom apartment rents in prime markets and in select downtown areas such as Al Sadd (6.6%) and the Old Airport (3%).

However, several neighbourhoods saw a decrease in 2BR apartment rents, with the largest seen in Al Mansoura, Doha Jadeed, and Najma where the average rents of available apartments listed on hapondo declined by approximately 8%.

Meanwhile, the median rents in key neighbourhoods for medium-size villas (3- to 5-bedrooms) have moved upwards. The Pearl’s median rent increased from QAR 29,930/month to QAR 30,900/month. Median rents of listed mid-size villa properties in hapondo have increased by an additional QAR 500/month to QAR 1,000/month in West Bay, Al Hilal, and Ain Khaled while rents remained stable in Al Mamoura, Old Airport, and Al Waab.

Abdullah Al Saleh, CEO of hapondo’s parent company Sakan, comments: “The rental market continues to be strong in Qatar, especially in the prime residential sector where gross rental yields range from 5% to 8% for prime apartments and 3% to 5% for prime villas. In hapondo, a significant portion of our users search for apartments in The Pearl and West Bay, and they look for villas in places such as Al Waab and West Bay Lagoon, signifying the market’s interest in quality spaces and convenient living.”

With more than 85% of the population considered expatriates, the population in Qatar grew from 2.86 million in June 2024 to 3.05 million in August, according to data from the National Planning Council.

In Q3, the Qatar Real Estate Price Index also bounced back from a 2-year low performance in April. The Index recovered from 202.46 points in April to 215.05 points in August, signifying a gradual recovery of selling prices across the country.

Dubai’s property market recorded 18,038 transactions in September 2024 – a new all-time monthly high – with almost three quarters (73%) for properties under construction having been sold off-plan, according to new insight from leading real estate intelligence and data authority, Property Monitor.

Property Monitor’s monthly analysis of Dubai’s real estate market shows that September transactions surpassed the previous record of 17,139 – set in May this year – by almost 900, highlighting continued growth – and confidence – in the sector, which is on track for 30% year on year growth by the end of the year. 2024 sales have now passed 131,000 just under 2% less than for the whole of 2023.

With 17,151 sales, residential transactions accounted for more than 95% of the September total.

Top of the off-plan sales charts was Emaar, with 2,343 registrations, followed by DAMAC Properties with 1,516 and Sobha with 810, according to the research.

September also set a new record for the highest priced apartment sale of 2024: AED275 million for a five-bedroom apartment at The One on Palm Jumeirah. The lowest recorded sale price was AED124,000 for a studio in Dubai South.

Property prices rose by 1.14% in September compared to August, at an average AED1,448 per sq ft. The median price for an apartment was AED1.3 million, for a townhouse AED2.76 million and a villa AED7 million, according to Property Monitor’s insight.

The research also shows a surge in mortgage activity, with transaction up 16.6% month-on-month. Almost 4,200 registrations took place in September as investors took advantage of lower interest rates.

Henry Bacha, Chief Executive Officer, Property Monitor, said: “September 2024 was yet another ground-breaking month for Dubai’s real estate sector, setting new records in both sales transactions and prices. Our findings underpin the ongoing success and evolution of the property market, which continues to flourish and looks set to end the year on another high, with 30 per cent growth compared to last year. A robust pipeline of new projects and easing mortgage rates continue to drive demand for both off-plan and ready properties.”

The Metropolitan Group has appointed Marcus Andersson as the new head of Penthouse.ae, a Dubai-based full-service real estate agency specializing in serving the needs of Ultra High Net Worth Individuals (UHNWIs).

With his extensive experience and proven track record in the international real estate market, Marcus will play a pivotal role in driving the growth of Penthouse.ae and strengthening its position as a leader in Dubai’s super-luxury real estate sector.

Marcus has over 20 years of experience in sales strategies and market analysis, having worked across four countries. His entrepreneurial spirit and successful ventures, including the establishment of three companies focused on real estate investments, have resulted in impressive sales exceeding USD 1 billion.

“We are excited to have Marcus take the lead at Penthouse.ae as we continue to expand our footprint in the super luxury real estate sector in the UAE,” said Nikita Kuznetsov, CEO of Metropolitan Group. “His deep understanding of the real estate market, coupled with his passion for excellence will be invaluable in driving Penthouse.ae’s continued success. As Dubai’s super-luxury real estate market continues to flourish, Marcus’s expertise will be instrumental in meeting the evolving demands of our discerning clientele.”

Commenting on his appointment, Marcus Andersson said, “I am excited to lead our exceptional team in this vibrant market. Dubai’s super-luxury real estate sector is witnessing remarkable growth, and I look forward to leveraging my expertise to unlock new opportunities for our clients. Together, we will elevate Penthouse.ae’s status as a premier player in the super-luxury segment.”

Under Marcus’s leadership, Penthouse.ae will continue to offer a curated portfolio of luxury properties, including penthouses, villas and mansions, located in the most prestigious neighborhoods of Dubai.

Marcus’ appointment comes at a time of significant growth for Dubai’s super-luxury real estate sector. The city’s strong economy, strategic location and world-class lifestyle offerings have made it a highly sought-after destination for HNWI’s and investors. Penthouse.ae, with its focus on exclusive properties and exceptional services, is well-positioned to capitalize on this thriving market.

This project marks the official sales launch and signifies a new milestone in Jad Global’s development journey. The company plans to launch additional projects in Jumeirah Garden City over the coming months, with total investments exceeding AED 1 billion.

The project offers a suite of premium amenities designed to elevate the resident experience, including an infinity pool, a spacious social clubhouse, a fully equipped fitness center with state-of-the-art facilities, and electric vehicle charging stations.

Jumeirah Garden City’s strategic location, bolstered by modern infrastructure and a planned metro station, ensures it remains a top destination for lucrative real estate investments and high-quality living.

Commenting on the occasion, Mohammed Al Sheikh, Co-Founder of Jad Global, said, “Our team has successfully developed numerous landmark projects across Dubai, cementing the city’s reputation as a global hub for luxury real estate. Our extensive experience in the sector allows us to deliver iconic projects that reflect Dubai’s spirit of innovation and ambition.”

He added, “171 Garden Heights represents our renewed commitment to creating vibrant communities that align with Dubai’s vision of a sustainable and forward-thinking future. This project aims to surpass expectations and bring additional value to Dubai’s dynamic real estate market.”

All units in “171 Garden Heights” come fully furnished with exquisite designs, providing residents with an unparalleled living experience. The project offers an ideal opportunity for both long-term residence and short-term holiday rentals, delivering attractive investment prospects with flexible leasing options and high returns.

Abu Dhabi’s real estate market continues to demonstrate resilience, with both affordable and luxury property segments performing well throughout the third quarter of 2024. According to the latest market report by Bayut, the UAE’s leading property portal, the capital’s real estate market is benefiting from various economic and demographic factors that are shaping its growth trajectory.

Trends in Property Purchases

Among those seeking affordable apartments, Al Reef, Al Ghadeer, and Masdar City emerged as the top locations during Q3 2024. Buyers have been particularly drawn to these areas due to their strategic locations and competitive pricing, offering value-driven investment opportunities.

For those in the market for luxury apartments, Al Reem Island, Al Raha Beach, and Yas Island have remained prominent choices. These areas are known for their upscale living environments, premium amenities, and proximity to some of Abu Dhabi’s key attractions. Saadiyat Island recorded the highest price increase for luxury apartments, with prices per square foot rising by up to 8%, driven by sustained demand.

In the villa market, Al Reef, Khalifa City, and Al Shamkha attracted the most attention in the affordable segment, with prices seeing steady growth. In the luxury villa segment, Yas Island, Al Raha Gardens, and Saadiyat Island led the market, benefiting from the allure of exclusive living spaces near Abu Dhabi’s iconic landmarks. Yas Island villas, in particular, saw price increases of nearly 5%, reflecting the area’s desirability.

Return on Investment (ROI) Trends

For property investors, ROI remains a critical consideration, and Bayut’s data points to strong yields across Abu Dhabi. Al Reef and Al Ghadeer offer attractive returns of 8.86% and 8.20% respectively for affordable apartments, while premium properties on Yas Island and Al Reem Island show returns of up to 7.22%. The affordable villa segment, particularly in Hydra Village and Abu Dhabi Gate City, continues to yield solid returns, with rates reaching 8.06%.

In the luxury villa market, Yas Island once again tops the charts with an ROI of 6.50%, closely followed by Al Raha Gardens at 6.42%.

Popular Off-Plan Projects

The off-plan property market in Abu Dhabi is also gaining momentum, with projects catering to both affordable and luxury buyers. For affordable apartments, Royal Park in Masdar City has garnered significant attention due to its competitive pricing and strategic location. Meanwhile, City of Lights in Al Reem Island continues to attract luxury apartment buyers with its modern architecture and premium waterfront views.

In the villa market, Bloom Living has become a popular choice among families seeking affordable housing with ample green spaces. On the luxury side, Saadiyat Lagoons on Saadiyat Island is a top contender, known for its exclusive waterfront properties and proximity to cultural landmarks.

Rental Market Trends

The rental market in Abu Dhabi has seen dynamic shifts across both affordable and luxury segments in Q3 2024. In the affordable apartment segment, areas like Khalifa City, Al Khalidiya, and Al Shamkha have witnessed significant tenant interest. Rents for 1- and 2-bedroom flats in Al Khalidiya and Tourist Club Area saw the highest increases, driven by a surge in demand.

In contrast, tenants seeking luxury apartments have focused on Al Reem Island, Al Raha Beach, and the Corniche Area, where rents have risen by 2% to 11%. Saadiyat Island remains a hotspot for luxury rentals, with noticeable price hikes in 1- and 2-bedroom apartments.

In the villa rental market, Mohammed Bin Zayed City, Khalifa City, and Madinat Al Riyadh continue to attract tenants looking for affordable housing. However, some areas, such as Shakhbout City and Al Reef, reported slight price decreases. On the luxury side, Yas Island, Al Raha Gardens, and Al Mushrif saw strong demand. Notably, 6-bedroom villas in Al Karamah experienced a price drop, while similar units in Al Mushrif saw a 12.4% increase.

Commenting on the findings, Haider Ali Khan, CEO of Bayut and Head of Dubizzle Group MENA, said: “The Abu Dhabi real estate market is continuing to stay strong this year, thanks to increased transparency and solid investments from both local and international players. If we look at just the last quarter, we have had over 3.5 million visits on our platform for listings in Abu Dhabi, showing just how strong the demand for properties in the capital is even during summer months. The government’s efforts to enhance data accessibility and push forward digital initiatives, like AI-powered services and the comprehensive DARI real estate platform, have definitely contributed to this.

Looking to the future, we can anticipate even better outcomes. The Abu Dhabi Real Estate Centre (ADREC) is set to attract more foreign investments by streamlining regulations and maintaining a strong focus on transparency. By embracing global standards and leveraging trends like smart city projects and sustainability, Abu Dhabi is positioned for even more growth in its real estate sector.”

An imposing Scottish castle that has only had four owners in its more than 200-year existence has hit the market asking for offers above £8 million (US$10.45 million).

Seton Hall, as it’s known, was built in 1789 by architect Robert Adam using stone from Seton Palace, the since-demolished property that was considered to be Mary Queen of Scots’s preferred retreat, according to Savills, which brought the home to the market last month.

“Seton is an absolutely magical castle—from the moment you approach, to the inner courtyard, to the quality of interior design,” said listing agent Jessica Gwyn.

The castle—roughly 10 miles from Edinburgh—remained in the same family from the late 18th century until 2003, which “served to freeze Seton in a protective time warp,” according to the listing.

Castellated features such as slit windows and turrets can be seen from the outside, and inside “secret staircases, curved doors, curved walls, arched windows and hidden doors add to the charming sophistication of the architecture and design,” the listing said.

But the castle has since been refurbished to meet modern standards, and now also boasts a helipad, a full security system, a gym, a playroom, a silk-lined dining room and a billiards room.

The restoration project saw a team of expert stonemasons rebuild the castle’s many chimneys, turrets and rooftop parapets. Plus, ironwork was restored, the dumbwaiter reinstated and the 10,000-bottle wine cellar was brought back to life, Savills said.

Alongside the seven-bedroom home that forms the core of the castle, there are additional residences across the property, including Darnley Cottage and Bothwell Cottage—named after Mary Queen of Scots’s husbands.

The castle’s stables have been refurbished, too, and are adjacent to the “Stable Bar,” the castle’s private pub.

The owner—who Mansion Global couldn’t identify—“feels their time as custodian of this outstanding building has come to a natural conclusion and it is time for this historic home to be loved and cared for by someone else,” Gwyn said.

This article first appeared on Mansion Global

Manhattan’s office-vacancy rate climbed to more than 15% this year, a record high. About 80 miles away in Philadelphia, occupancy also is at historically low levels. But a 24-storey office tower located between the two cities has more than doubled its occupancy over the past five years.

Developer American Equity Partners bought the New Jersey office tower, known as 1 Tower Center, for $38 million in 2019. At the time, the 40-year-old building felt dated. It had no gym, tenant lounge or car-charging stations.  The low price enabled the firm to spend more than $20 million overhauling and luring tenants to the 435,000-square-foot property.

Now, the suburban building is nearly fully leased at competitive rents, mopping up tenants from other buildings after the owner added a new lobby, movie theatre, golf simulator, fitness centre and a tenant lounge featuring arcade games and ping-pong tables.

“Our tenants told us what they needed in order to fill up their offices,” said David Elkouby , a co-founder of American Equity, which owns about 4 million square feet of New Jersey office space.

The new owner also liked the location at the 14-acre hotel and conference-centre complex, off the New Jersey Turnpike’s Exit 9 in East Brunswick. The site is a relatively short commute for millions of workers in central New Jersey and is passed by 160,000 vehicles daily.

The property’s turnaround shows how office buildings can thrive even during dismal times for most of the U.S. office market, where vacancies remain much higher than pre pandemic.

Success often requires an ideal location—one that shortens the commute time of employees used to working at home—and the sort of upgrades and amenities companies say are necessary to lure employees back to the workspace.

One Vanderbilt, a deluxe office tower with a Michelin-star chef’s restaurant and plenty of outdoor space in Midtown Manhattan, is fully leased while charging some of the highest rents in the country.

The 11-story Entrada office building, in Culver City, Calif., is making the same formula work on the other coast. It opened two years ago with a sky deck, concierge services and recessed balconies. A restaurant is in the works. The owner said this month that it has signed three of the largest leases in the Los Angeles area this year.

1 Tower Center shows how the strategy can be effective even in less glamorous suburban locations. The tower is prospering while neighbouring buildings that are harder to reach with outdated facilities and poor food options struggle to fill desks even at reduced rents.

The recent interest-rate cut and reports that some big companies such as Amazon .com are re-instituting a five-day office workweek have raised hopes that the office market might be getting closer to turning.

But with more than 900 million square feet of vacant space nationwide and remote work still weighing on office demand, more creditors are seizing properties that are in default on debt payments.

Rates are still much higher than they were when tens of billions of dollars of office loans were made, and much of that debt is now maturing. The recent interest-rate cut doesn’t mean “office-sector woes are now over,” said Ermengarde Jabir, director of economic research for Moody’s commercial real-estate division.

Lenders are dumping distressed properties at steep discounts to what the buildings were worth before the pandemic. Some buyers are trying to compete simply by cutting their rents.

“Most owners don’t have the wherewithal to do what is required,” said Jamie Drummond, the Newmark senior managing director who is 1 Tower Center’s leasing agent. “Owners positioned to highly amenitise their buildings are the ones who are successful.”

HCLTech, a global technology company, illustrates the appeal. It greatly expanded its presence in New Jersey by moving this year to a 40,000-square-foot space designed for its East Coast headquarters at 1 Tower Center.

The India-based company said it was drawn to the building’s amenities and design. That made possible a variety of workspaces for employees, from quiet nooks to an artificial-intelligence lab. “You can’t just open an office and expect [employees] to be there,” said Meenakshi Benjwal , HCLTech’s head of Americas marketing.

HCLTech also liked the location near the homes of its employees and clients in the pharmaceutical, financial-services and other businesses.

Finally, it didn’t hurt that the building is a short drive from nearby MetLife Stadium. The company has a 75-person suite on the 50 yard line where it entertains clients at concerts and National Football League games.

“All of our clients love to fly from distant locations to experience the suite and stadium,” Benjwal said.

JMJ Group Holding, in partnership with Qetaifan Projects, has officially launched SLS Doha The Grove Residences, an ultra-luxury residential development, at Cityscape Qatar 2024. Designed by the internationally acclaimed Zaha Hadid Architects and situated on the exclusive Qetaifan Island North, SLS Doha The Grove Residences aspires to redefine innovation, sustainability, and luxury living in Qatar.

Real estate investors and enthusiasts had the opportunity to explore SLS Doha The Grove Residences at JMJ Group Holding’s booth, part of the Qetaifan Projects pavilion at the exhibition. Guided by JMJ’s real estate advisors, visitors learned about the project’s standout features, including the spectacular design, smart home integrations, and sustainability initiatives. Visitors also explored investment incentives, such as flexible payment plans and rental assistance, and discovered how SLS Doha The Grove Residences offers a unique blend of luxury living and strong investment potential through interactive displays and models.

JMJ Group Holding also signed a non-binding Memorandum of Understanding (MoU) with Ennismore, the fastest-growing lifestyle and leisure hospitality company, to bring to life the branded residence, SLS Doha The Grove Residences. This potential collaboration enhances the project’s exclusivity, aligning SLS Doha The Grove Residences with SLS’s inimitable brand of immersive extravagance. This collaboration ensures that, alongside the exclusivity, privacy and carefully curated services associated with a branded residence, owners will also have access to an enviable array of dedicated residential amenities, all managed by Ennismore and SLS.

On the occasion, Sheikh Jabor bin Mansour bin Jabor bin Jassim Al Thani, Chairman of JMJ Group Holding, commented: “SLS Doha The Grove Residences embodies our commitment to crafting residences that harmonize luxury, innovation, and sustainability. This project sets a new benchmark for high-end living, offering exceptional design and world-class amenities. We invite investors to explore the unique opportunities SLS Doha The Grove Residences presents, as it promises not just a home but a premium lifestyle investment.”

He continued: “Signing an MOU with Ennismore further enhances this exclusive experience. A name synonymous with world-class hospitality, SLS’s expertise will ensure that residents at SLS Doha The Grove Residences enjoy unparalleled service that truly redefines luxury in Qatar.”.

Chadi Farhat, Brand COO of SLS & Head of Asia Pacific & Middle East at Ennismore, added: “We are honored to be part of SLS Doha The Grove Residences, a project that exemplifies the power of collaboration and forward-thinking design. This partnership will mark an important step for our SLS brand as we expand into the Qatari market, where the demand for high-end, innovative living is growing. This project aligns perfectly with our commitment to creating extraordinary experiences, and we see great potential in contributing to Qatar’s dynamic luxury real estate sector. We look forward to delivering our renowned service and hospitality to create an exceptional living experience for residents wishing to say farewell to the ordinary.”

Set to infuse breathtaking experiences with signature mischievous wit and a playful ambience, SLS Doha The Grove Residences Doha is comprised of 293 lavishly designed residences, from one to four-bedroom apartments, each offering panoramic views of the Lusail skyline and access to an array of premium amenities. Residents will benefit from a waterfront promenade, complete with exclusive boutiques, cafes, and restaurants, as well as access to infinity pools, a state-of-the-art wellness center, a private members’ club, and a marina. With its striking design and cutting-edge facilities, SLS Doha The Grove Residences seamlessly fuses modern architecture with environmental responsibility to deliver an exceptional living experience. Flexible pricing options are available, making SLS Doha The Grove Residences accessible to a range of buyers seeking luxury living in one of Qatar’s most prestigious locations.

Sheikh Nasser Bin Abdulrahman Al Thani, Chairman and Managing Director of Qetaifan Projects, stated, “This partnership with JMJ Group Holding is part of Qetaifan Projects’ ongoing successful collaborations locally, regionally, and internationally. Our partnership with JMJ Group Holding reflects Qetaifan Island North’s role as an attractive investment environment. We are excited to support SLS Doha The Grove Residences, a visionary project designed by Zaha Hadid Architects that caters to the market with more options and enriches Qatar’s positioning as a high-end, sustainable living leader.”

Juan Ignacio Aranguren, Associate Director at Zaha Hadid Architects, stated: “Innovation has always been at the heart of Zaha Hadid Architects’ approach to design. SLS Doha The Grove Residences project exemplifies how architecture can be a catalyst for creating vibrant, resilient communities.”

As SLS Doha The Grove Residences takes its place as a defining landmark on Qetaifan Island North, it sets a new benchmark for luxury living in Qatar. JMJ Group Holding’s collaboration with Zaha Hadid Architects and Ennismore not only elevates the project but also reflects a bold vision for the future of real estate in the region. With its innovative design, sustainable features, and world-class amenities, SLS Doha The Grove Residences is set to redefine the standard of modern living.

ONE Development has appointed AE7, a globally renowned architectural and engineering firm, as the consultant for its AED 2 billion flagship project in Dubai’s City of Arabia. AE7 will be responsible for the project’s master planning, architecture, design, AI innovation integration, and development management. Their role also includes overseeing engineering, interior design, landscape architecture, project management, and implementing sustainability practices. This highly anticipated development is expected to be unveiled soon, marking a significant step for ONE Development.

AE7 is a global top 50 multi-billion-dollar Building, Design and Construction group with a proven track-record of excellence. Established in 2009 by seven internationally renowned American design professionals with over 40 years’ experience designing and creating destinations in the USA, Asia and the Middle East with almost 20 years of experience, the company has grown into a full-service architectural group providing specialty expertise through six offices worldwide, which has designed and managed over US$40 billions of design work over the past five years.

Ali Al Gebely, ONE Development Founder & Chairman, called the appointment a collaborative milestone between two like-minded organizations, saying: “We are in the process of redefining urban living through the integration of cutting-edge AI and its technology, and our City of Arabia project is a flagship enterprise that requires the strength and resilience of a world-leading consultancy that shares our aspirations, and selecting AE7 to be the project consultant aligns with our vision to have a strong world-renowned multi-disciplinary design firm on board. ONE Development and AE7 will offer our community residents a high-tech lifestyle that not only enhances their convenience by enabling them to engage and connect with their devices, homes, surroundings and facilities for a better life, but also upholds our joint commitment to environmental responsibility. From smart home systems to energy-efficient solutions, this development is setting new benchmarks for sustainable living in Dubai.”

Tomas Gulisek, Principal and Design Director at AE7, added: “AE7 is a global design firm with a reputation for breaking traditional boundaries through innovative solutions and comprehensive services. Our partnership with ONE Development on this prestigious project will enable us to jointly reinforce our vision of how a collaboration between two dedicated organizations can result in achieving innovative design solutions that do more than just provide accommodation; we are creating spaces that foster a sense of community while respecting residents’ privacy and honoring their individuality. It’s about balancing innovation with functionality, where design elevates everyday experiences.”

ONE Development is transforming the real estate landscape, setting new standards for excellence fashioning homes that cater for every lifestyle.

The Violet Tower, a prestigious new residential project by Dubai Investments in the heart of Jumeirah Village Circle (JVC), is making remarkable progress. With its foundation work nearing completion, and 99.3% of the piling work already finished, this AED 300 million development is poised to become a standout feature in JVC’s evolving skyline. The project, led by top-tier construction firms, aims to deliver contemporary urban living spaces designed for modern residents.

Having logged approximately 58,000 working hours to date, the project remains on track for key milestones. The enabling works are expected to be completed by the fourth quarter of 2024, and the entire project is projected to be ready for occupancy by Q4 2026. Notably, the construction process has upheld an impeccable safety record, with no reported incidents, highlighting the efficiency and commitment of the team involved.

Strategic Location and Cutting-Edge Design

Positioned in the heart of JVC, Violet Tower is designed to meet the growing demand for modern, well-planned residential spaces. The development will offer 287 units spread across 27 floors, ranging from studios to two-bedroom apartments. Each unit has been meticulously planned to maximize space efficiency and cater to contemporary living standards, making it an attractive option for both professionals and families seeking quality homes in a vibrant community.

In addition to its strategic location, Violet Tower, by Dubai Investments, is packed with innovative features. A distinctive steel canopy roof will crown the building, giving it a unique architectural identity. The entrance area will be multifunctional, featuring a coworking station, perfect for the growing number of remote workers in the city. Moreover, the building will offer 24/7 security, ensuring a safe and comfortable living environment for all residents.

Strong Collaborations Ensuring Quality

The success of Violet Tower is backed by partnerships with some of the region’s most reputable contractors and specialists. Al Ghurair Contracting is overseeing the main construction works, ensuring that the development adheres to the highest standards of craftsmanship and durability. Tech Foundation is managing the enabling works, while the Arab Centre has been entrusted with pile testing, guaranteeing that the project meets rigorous quality benchmarks from the ground up.

A Vision for the Future

Upon its anticipated completion in late 2026, Violet Tower will stand as a major addition to JVC’s rapidly evolving skyline. It promises to offer a unique blend of contemporary living, thoughtful design, and community integration. By addressing the rising demand for modern urban homes, Violet Tower aims to provide its residents with a lifestyle that balances convenience, comfort, and cutting-edge features.

As Jumeirah Village Circle continues to grow as one of Dubai’s premier residential hubs, Violet Tower is poised to become a key player in the district’s transformation. With its forward-thinking design, top-tier amenities, and prime location, this development is not just about building homes—it’s about shaping the future of living in Dubai.