LEOS Developments Pioneers AI Innovation in $1.17 Billion Market

Egypt-listed real estate firm Emaar Misr for Development signed a deal to build a tourism development on the Egyptian Red Sea with Saudi Arabian and Emirati partners, saying the project could eventually generate investments worth 900 billion Egyptian pounds ($18.58 billion).

Senior officials from the companies involved – Emaar Misr for Development, Sky Tower for Real Estate Development, and Golden Coast, which is owned by Saudi Arabia’s City Stars – made the announcement at a televised event in Cairo attended by Egyptian Prime Minister Mostafa Madbouly on Sunday.

Emaar Misr, almost wholly-owned by Dubai’s largest real estate developer Emaar, holds a stake in Sky Tower for Real Estate Development.

The project, dubbed Marassi Red Sea, would be launched soon, Hassan el Sharbatly, vice president of City Stars said.

“The project is expected to create revenues of between $100-$200 million annually from tourist activities,” the companies said in a statement.

The project was first announced in February this year.

Egypt has been seeking large-scale investment projects to boost its economy, which has been grappling with a protracted financial crisis and the economic reverberations of the war in Gaza between Israel and Hamas.

Last year Abu Dhabi sovereign wealth fund ADQ led a consortium to invest $35 billion in Egypt to develop a 170-square-kilometre area on the Mediterranean.

Emirati real-estate developers are looking to lure British investors to the United Arab Emirates where a weaker dirham, pegged to the U.S. dollar and battered by Donald Trump’s tariffs, has made property significantly cheaper for buyers with pounds.

Their push to target British investors locally with new London offices comes as UAE developers contend with a domestic market that has been one of the best-performing globally but is now prompting concern about oversupply and too few buyers.

In the past year, UAE developers Binghatti and Danube have established sales offices in London, joining Aldar, Damac and Sobha.

“The currency makes a big difference,” said Danube Chairman Rizwan Sajan, referring to the weak dirham and strong pound. Binghatti CEO Muhammad Binghatti said he had seen more British investors enter Dubai as the dirham weakened.

U.S. President Donald Trump’s sweeping tariffs have dragged down the dollar and, by extension, the dirham. The dirham is down about 8% versus the pound since January – handing British buyers an effective discount to enter the UAE’s property market.

Property agents report a move by some wealthy people out of London due to higher taxes, although the evidence so far is largely anecdotal. Senior London-based agents at CBRE and Knight Frank told Reuters Dubai was among a select group of top destinations for those leaving London, alongside wealth hotspots Monaco, Italy and Switzerland.

In a bid to lure British buyers, Binghatti is offering flexible payment plans and special pricing to UK investors, while Damac has teamed up with Chelsea soccer club to launch branded residences in Dubai that appeal to British buyers.

After a period of decline, British investment in Dubai homes jumped 62% year-over-year in the second quarter of 2025, according to UAE brokerage Betterhomes. That made UK residents the emirate’s top foreign property buyers for the first time since 2023, overtaking Indian nationals, the brokerage said.

Emirati property has emerged an unexpected winner from U.S. tariffs, as investment flows into less-impacted emerging markets. Traditionally reliant on oil revenues that swell when the dollar is strong, the Gulf country is now leveraging sectors like property and tourism to draw in capital.

After a run of soaring prices, some experts, however, predict a downturn in the Dubai market.

In May, Fitch forecast a potential 15% contraction in Dubai property prices through late 2025 and into 2026.

Some see London as a way to diversify operations as well as a sales hub, in another sign UAE developers are turning overseas as the local market becomes tougher.

Damac, Aldar and Modon have all launched development arms for building properties in the UK through subsidiaries or joint ventures — most recently in January 2025.

After setting up their London sales offices, both Danube and Binghatti said they were weighing similar moves into UK property development, despite the weaker dirham denting their buying power.

Aldar’s UK-based subsidiary London Square has secured 15 new land sites and launched six developments since late 2023, according to chief executive Talal Al Dhiyebi.

The UAE developers are using falling UK property prices to try and attract wealthy Emiratis, who now make up 3% of London investors— a fivefold rise from just 0.6% a year earlier, according to Knight Frank.

Aldar announced today the launch of 450 townhomes exclusively for UAE nationals at the family-oriented Al Deem community, located northeast of Yas Island. Set to launch for sale on 12 September, the townhomes are thoughtfully designed to integrate contemporary living with traditional Emirati values.

Comprising three- and four-bedroom townhomes, prioritizing space and comfort, each unit features a majlis and multiple entrances to optimize privacy and convenience. The community features 26 three-bedroom live-work homes that are first of their kind in the UAE with commercial space located on the ground floor and private living quarters on the first floor.

Situated within the wider Al Deem community – formerly known as Balghaiylam – the homes represent the seventh cluster in the masterplan. With more than 1,700 homes being developed across the first six clusters, under Abu Dhabi’s national housing program in partnership with the Abu Dhabi Housing Authority, this launch provides a unique opportunity for Emirati buyers to own a home close to loved ones who purchased in the earlier phases.

Additionally, two new bridges will connect the community to Yas Island, ensuring direct access to its world-class entertainment, dining, and leisure activities, including Yas Mall, Yas Marina, Ferrari World, and Yas Waterworld, as well as a quick commute to Zayed International Airport and the rest of Abu Dhabi.

The Central Bank of Egypt (CBE) announced on Thursday, August 28, 2025, a 200-basis-point reduction in key interest rates during its Monetary Policy Committee meeting. The overnight deposit rate was lowered to 22%, the lending rate to 23%, and both the main operation and discount rates to 22.5%.

This move comes as Egypt’s annual urban inflation eased to 13.9% in July, down from 14.9% in June, amid signs of exchange rate stability and improved foreign currency inflows. The CBE had previously implemented two consecutive cuts in April (2.25%) and May (1%), before holding rates steady in July. Together, these measures aim to ease financing costs for investors and stimulate economic growth.

Mohamed Abdel Monem, Financial Manager and Board Member at LMD, said the latest cut would open broader opportunities for real estate developers to finance new projects, enhancing investor confidence and boosting demand across residential and commercial segments.

“At LMD, we believe this decision provides a genuine opportunity to stimulate activity in the Egyptian market and increase demand for real estate projects. It aligns with our vision to develop integrated communities that support national economic goals. Many Egyptian and foreign investors now share an optimistic outlook on Egypt’s economic trajectory in the coming years,” he explained.

Mohamed Motawea, Chairperson of MG Developments, noted that the CBE’s 2% cut has reinforced real estate as the most attractive investment avenue, describing it as both the safest and most profitable option.

He added that the timing—just ahead of Cityscape Egypt 2025—gives the market a powerful boost. “Lower bank returns reduce the appeal of traditional savings, pushing liquidity into property. Meanwhile, developers gain from cheaper financing, allowing more flexible payment plans. Real estate, as a tangible asset, preserves value and delivers annual returns of 10–15%, significantly outperforming other investment tools,” Motawea said.

He stressed that the decision reflects confidence in the Egyptian economy and will stimulate demand, drive sales, and encourage the launch of competitively priced projects. Despite inflationary pressures and higher construction costs, he expects 2026 to be a milestone year for the property market.

Similarly, Samir Fawzy El Sayed, Chairperson of El Tawfikia Group, stated that the interest rate cut will reinforce the investment climate and ignite a new wave of demand across all segments of the real estate market.

He explained that real estate remains the safest haven for Egyptians. “With lower bank returns, more clients will seek residential and commercial units, which will boost sales in the near term. Developers, including El Tawfikia Group, will directly benefit from reduced borrowing costs, enabling faster execution and expansion of projects,” he said.

Fawzy also predicted short-term price stability, followed by gradual increases due to rising demand and construction costs, stressing that the current period presents one of the best times for buyers to enter the market.

Echoing similar sentiments, El-Sayed Othman, Board Member of the Association of Real Estate Developers (arD) and Chairperson of Tetra Real Estate, emphasised that the CBE’s 2% cut will have immediate benefits for the sector.

“Lower financing costs will stimulate purchasing decisions, particularly among middle-class families looking for affordable housing. It also strengthens property’s appeal compared to traditional savings tools with declining returns,” Othman explained.

He forecast stronger demand for residential and commercial units in the coming months, alongside the launch of new phases by developers encouraged by improved liquidity and investor sentiment. He further predicted relative price stability in the short term, followed by gradual increases, making this period an attractive entry point for buyers.

For his part, Sayed Eliwa, Chairperson of Eliwa Group and member of arD, highlighted that the rate cut enhances clients’ purchasing power, drives sales, and motivates savers to shift from bank deposits to real estate—considered a more secure store of value against inflation and currency fluctuations.

“Developers will also benefit from reduced financing costs, enabling faster execution and broader expansion, which will boost supply and increase product diversity. Flexible payment plans will particularly drive sales recovery in the near term,” Eliwa said.

Meanwhile, Hesham Ibrahim, Managing Director of Winvestor Developments, described the decision as a significant boost not only for real estate but also for the wider economy, as the sector drives dozens of related industries.

“The cut reduces financing burdens for developers, allowing quicker project execution and new launches supported by flexible payment plans. With the state’s ongoing expansion into new cities and infrastructure projects, Egypt remains one of the region’s most attractive property markets,” Ibrahim said.

He concluded that real estate will continue to be the top investment choice for Egyptians, stressing that the CBE’s decision marks a turning point for the sector and will define the next phase of its growth.

As part of its ongoing commitment to shaping future-focused communities, BEYOND Developments has announced the launch of the Middle East’s first Forest District by the Sea, and Talea, the first in a series of residential towers that will bring this vision to life. 

Set in Dubai Maritime City, this pioneering destination is a coastal haven centered on nature, wellness, and sustainability. By championing this nature-first approach, BEYOND Developments supports Dubai’s transformation into a global leader in sustainable, resilient urban living, aligned with the Dubai 2040 Master Plan, Net Zero 2050, and D33 Agenda.

According to Adil Taqi, CEO of BEYOND Developments, this launch marks more than the beginning of a new residential offering. “This project demonstrates how thoughtful design can pioneer solutions to the challenges of climate change and urban wellbeing. As someone who lives and works in the city like everyone else, I understand firsthand the need for spaces that truly support healthier, more connected lives. It’s our responsibility as developers to create environments that inspire wellbeing and sustainability, making a positive difference in people’s everyday quality of life.” 

The Forest District will feature 65,000 square meters of community parks, including an expansive 55,000 square meters of native woodland. With up to 75 percent tree canopy coverage and passive cooling strategies, the district introduces a cooler microclimate supported by green trails, forest-view fitness spaces, and tranquil garden areas, designed to promote wellbeing, mindfulness, and community connection.

Taqi added: “Tomorrow’s cities will be defined by their sensitivity to people, nature, and experience. That’s the ethos shaping our work in Dubai. Talea is the first step, a place where ecology, design, and daily life come together with purpose.”

Talea draws from the rhythms of earth and water. Its flowing architecture with greenery and expansive glazing brings the forest into each home. The tower features 354 residences, from one- to three-bedroom apartments to select four-bedroom penthouses, with interiors in natural tones and sweeping sea, skyline, and woodland views.

Amenities echo the forest, with shaded pools, treetop walkways, fitness zones, and play areas, seamlessly linked to The Forest District for a lifestyle where coastal energy meets woodland calm.

Object 1 has continued its rapid ascent in the UAE’s real estate sector, closing the first half of 2025 with a development pipeline exceeding 4.5 million square feet across more than 294 floors and 16 active projects on sale. The company’s strong positioning in Dubai has been further solidified by its strategic expansion into Abu Dhabi, along with a series of high-impact residential launches and the debut of the N1 Awards to spotlight innovation across the industry.

Since launch, Object 1 has sold over 1,433 units, with sales value in H1 2025 alone growing by 188% and volume by 157% compared to the same period in 2024, according to Dubai Land Department (DLD) data.

“Our performance in H1 2025 reflects both the depth of demand in the UAE and the strength of our product,” said Tatiana Tonu, CEO of Object 1. “With its strong economy, booming real estate sector, tax benefits, and world-class infrastructure, the UAE continues to draw global attention; more than 9,800 millionaires are expected to reside here by 2025. At Object 1, we remain focused on delivering well-designed, future-ready homes that meet the evolving needs of buyers and investors alike.”

The developer’s guiding philosophy is to build homes that not only meet current market demand but also anticipate future lifestyle shifts. Every project is designed to blend long-term functionality with emotionally intelligent design, serving residents not just as homes, but as spaces that evolve with them.

Object 1’s portfolio spans some of Dubai’s most promising neighborhoods. In JVC, the company is developing V1TER, 1WOOD, Ozone1, THE F1FTH, and the newly launched ALTA V1EW, offering premium views and smart-living features. In JVT, Object 1 continues to shape family-friendly living with W1NNER, LUM1NAR Towers, V1VID, and ESSENL1FE—a wellness-focused concept designed for buyers seeking balance, mental clarity, and holistic wellbeing in their living spaces. The biophilic and sustainability-focused EVERGR1N HOUSE in Jumeirah Garden City sold out within a month, leading to the upcoming launch of EVERGR1N HOUSE 2 to meet continued demand for eco-conscious, short-term rental-ready living. In Al Furjan, V1STARA House reflects a modern take on community-focused living, with projects also underway in Dubai Sports City and Dubai Land Residence Complex.

Object 1 continues to lead on green construction practices across all projects, utilizing recycled steel, sustainable timber, and low-impact concrete. Advanced insulation, energy-efficient glazing, and high-performance HVAC systems are standard, in full alignment with the UAE Green Agenda 2030.

In a significant milestone, the developer will open its first Abu Dhabi sales gallery, marking its official expansion into the capital. This strategic move positions the developer to reach new audiences while maintaining its core values of design-led, community-oriented living.

Looking ahead, Object 1 plans to build on this momentum with further project launches, new partnerships, and deeper integration of sustainability and smart living into its offerings.

UAE-based Azizi Developments has announced that 70 per cent of the work has been completed on its premium Beachfront I project in Riviera, its French Mediterranean-inspired waterfront community in MBR City, Dubai.

Giving a project update, Azizi said the project’s structure is fully ready, with blockwork and internal plastering standing at 98 per cent completion. Tiling works have reached 50 per cent, while HVAC and MEP installations stand at 83 per cent and 68 per cent, respectively.

Façade works are at 29 per cent, external works are at 15 per cent, and overall finishes have progressed to 49%, it stated.

Supported by a workforce of 3,200, construction remains firmly on track for completion in Q4 2025, it added.

Group CEO Farhad Azizi said: “Beachfront in Riviera is rapidly taking shape, showcasing our dedication to delivering communities that perfectly blend sophistication with functionality.”

“As we move closer to completion, our focus remains on surpassing the expectations of our valued investors and end-users, while further enriching Dubai’s skyline with developments that will stand the test of time,” he added.

On completion, the Riviera Beachfront will boast three 20-storey developments offering 555 units across studios, one- and two-bedroom homes, and retail spaces.

Each building, set on the shores of Azizi’s 2.7-km-long swimmable crystal lagoon, features direct beach access, swimming pools, landscaped surroundings, fully equipped gyms, barbeque areas, children’s playgrounds and games, and yoga spaces, among other carefully thought-out amenities, it added.

Almal Real Estate Development has recently announced an official partnership with United Football Club (United FC), marking the beginning of a long-term, purpose-led collaboration that goes far beyond traditional sponsorship. Rooted in shared values and a unified vision, this partnership will champion youth empowerment, community upliftment, and establish a legacy of excellence across both real estate and sport.

As a leading UAE-based real estate developer, Almal is known for its progressive approach to building destinations that enrich lives. This new alliance reflects Almal’s continued dedication to using real estate as a tool for positive societal change, creating not only homes of distinction but communities of winners. By joining forces with United FC, the company extends this mission beyond bricks and mortar, investing in the next generation and championing talent, resilience, and unity.

At its core, this partnership is built on synergy. United FC’s motto, “We are United, We are Family, We Develop Class”, echoes Almal’s own belief in creating lasting value and impact. Together, both organizsations aim to inspire young people from all backgrounds to dream big and pursue greatness, both on the pitch and in life. The collaboration will see Almal support United FC’s efforts in developing youth talent, expanding its academy, and enhancing its facilities, reinforcing a culture of high performance and inclusion.

Aiming to build a better future together, Almal and United FC are united in their aspiration to be community leaders, each bringing a global mindset, multicultural spirit, and dedication to social progress. Through initiatives that span player development, community engagement, and inclusive events, the partnership aims to inspire excellence from the grassroots level upward.

Founded in 2022 and based in Dubai Sports City, United FC has quickly risen through the ranks of UAE football, earning promotion to the UAEFA First Division League after a standout 2023 season. With a diverse squad representing countries from Africa, Europe, and South America, and a fast-growing youth academy, United FC is a platform for development, unity, and ambition. Under the leadership of CEO Ilie Cebanu, the club continues to expand its reach with plans for a state-of-the-art stadium and a stronger youth talent pipeline.

With this strategic partnership, Almal and United FC are laying the foundations for a future where champions live, grow, and play. Together, they are investing in people, places, and purpose, bringing to life a shared vision that will echo far beyond the final whistle.

Ras Al Khaimah is witnessing an unprecedented boom in its real estate sector, quickly establishing itself as one of the fastest-growing property markets in the UAE, thanks to the visionary leadership of H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah.

The emirate is moving steadily toward reshaping its urban skyline while building a diversified, resilient economy. This comes as part of its ambitious strategy focused on sound urban planning, sustainability, improving quality of life for citizens and residents, and delivering world-class projects.

Over the past three years, the Emirate has recorded significant increases in real estate sales and prices, supported by landmark developments in hospitality, commercial, and residential sectors. Population growth—expected to rise from 0.4 million to 0.65 million by 2030—is projected to drive demand for around 45,000 additional housing units.

This sustained growth is built on a diversified economy, investor-friendly legislation, and the entry of major global developers such as Emaar, Aldar, and Ellington Properties, alongside local leaders like Marjan, Al Hamra, and RAK Properties.

At the heart of the transformation is Al Marjan Island, a premier coastal destination progressing rapidly under the leadership of Eng. Abdulla Al Abdooli, CEO of Marjan. The island is home to top-tier luxury hotel brands including Wynn, JW Marriott, Nobu, Missoni, and The Address.

As part of its expansion plans, Marjan is developing “RAK Central,” the Emirate’s newest mixed-use economic destination featuring a fully integrated complex for business, residential, and leisure activities. The development is expected to become one of the largest commercial districts in the Northern Emirates, offering premium Grade-A offices and incorporating green building practices aligned with Ras Al Khaimah Vision 2030.

Meanwhile, Al Hamra Real Estate Development, led by CEO Benoy Kurien, continues to raise the bar for integrated living through its flagship “Al Hamra Village,” which includes over 4,000 residential units and a golf course, supporting a vibrant community of more than 10,000 residents. The company is also behind major developments such as Waldorf Astoria Residences, Falcon Island, Al Hamra Waterfront, and “Manar Mall,” the Emirate’s largest and most iconic shopping destination.

On the coast, RAK Properties is enriching the waterfront with its landmark project “Mina,” which currently includes award-winning resorts like Anantara Mina Ras Al Khaimah and InterContinental Ras Al Khaimah. The development is also preparing to welcome upcoming projects such as Nikki Beach, Staybridge Suites, and the planned Four Seasons Hotel.

Abdulaziz Abdullah Al Zaabi, Chairman of RAK Properties, said, “The vision of Ras Al Khaimah is now becoming a reality. We are creating a vibrant and sustainable environment that attracts global investment while preserving the unique culture and natural heritage of our Emirate.”

Sameh Muhtadi, CEO of RAK Properties, confirmed that Ras Al Khaimah is receiving unprecedented global attention due to exceptional efforts over the past two years, expressing confidence in the continued momentum.

The growth of Ras Al Khaimah’s real estate sector is underpinned by robust infrastructure, including eight hospitals such as the advanced RAK Hospital, and a modern education system with private schools regulated by the Ras Al Khaimah Department of Knowledge. The Emirate also consistently ranks among the safest places in the world, reinforcing its appeal as a destination for living and stability.

Tourism is another vital pillar of the Emirate’s development. In 2024, Ras Al Khaimah set a record by welcoming 1.28 million tourists to its extraordinary attractions such as Jais Flight—the world’s longest zipline—Bear Grylls Explorers Camp, and the “1484 by Puro” restaurant, the highest-elevation dining experience in the UAE.

RAK Hospitality Holding, led by CEO Alison Grinnell, plays a key role in this sector, further integrating tourism and hospitality through strategic hotel acquisitions and innovative offerings.

Industry leaders agree that Ras Al Khaimah is one of the region’s fastest-growing markets, with beachfront apartments, luxury villas, golf communities, and lifestyle hubs continuing to attract both investors and residents. The Emirate’s 2030 Vision remains central to this evolution, with its inclusive, sustainable strategy placing people at the heart of progress.

With more developers, investors, and residents joining from across the globe, Ras Al Khaimah is positioning itself as a true benchmark for smart cities, vibrant communities, and opportunity-driven living.

TownX, one of Dubai’s fastest-growing real estate developers with an AED 4 billion project portfolio, today announced that construction of Luma Park Views in Jumeirah Village Circle (JVC) is now 95% complete. The development comprises 600 apartments, offering one- to three-bedroom units with park views, and is on track for handover ahead of schedule. 

All major milestones have been achieved, with the structure and internal works completed, while internal finishes, MEP installations and snagging are in advanced stages.

Luma Park Views blends luxury, smart technology and community living, with features including two sky pools, two Technogym-equipped gyms, and a vast internal garden spanning over 32,000 square feet. Kitchens are fitted with Siemens appliances and integrated smart home systems, complemented by a grand coffee shop and 24-hour security with face recognition systems in lifts. Residents will also benefit from smart home door locks, plate number recognition for parking access, temperature controlled pools, and EV car charging points.

TownX has recently signed an exclusive agreement with global real estate consultancy Knight Frank to lease over 20,000 square feet of prime retail space within Luma Park Views.

Haider Abduljabbar, Executive Director of TownX, commented: “Luma Park Views reflects our vision to create premium residential spaces that blend technology, luxury, and community living. At TownX, we are committed to delivering projects ahead of schedule without compromising on quality. This development embodies our dedication to detail and our belief in creating long-term value for residents and investors.”

Since its inception in 2017, TownX has focused on delivering projects ahead of schedule with exceptional attention to detail. With over 967 units delivered and 1,774 apartments currently under development, the company continues to expand its footprint in Dubai’s real estate market. Key developments delivered by TownX include Easy18, Easy19, Luma21 and Luma22 in JVC, while ongoing projects include 11 Hills Park at Dubai Science Park and Luma Park Views in JVC.

With a focus on family-oriented communities, TownX designs spaces that cater to all generations, prioritizing high-end finishes, energy-efficient designs and spacious interiors. Above all, the company is committed to enhancing the daily lives of its residents through exceptional user experiences.

TownX, one of Dubai’s fastest-growing real estate developers with an AED 4 billion project portfolio, has appointed Ocean Stone as the main contractor for its Ashley Hills project. Located in the heart of Arjan, the AED 662 million development spans over 400,000 square feet of sellable area, marking another milestone in TownX’s commitment to delivering high-quality residential communities.

Ocean Stone, a renowned construction firm with extensive experience in large-scale residential projects, will oversee the construction of Ashley Hills, which includes the development of 616 residential units. The project is designed to offer families and investors a mix of spacious apartments in one of Dubai’s most rapidly developing areas.

Haider Abduljabbar, Executive Director of TownX, said: “We are excited to have Ocean Stone on board as the main contractor for Ashley Hills. Their proven track record of delivering high-quality projects on time and within budget makes them the perfect fit for this ambitious development. With the commencement of construction, we are confident that this partnership will ensure the timely and successful delivery of this landmark project.”

As part of the project’s ongoing efforts, TownX has also begun collecting Expressions of Interest (EOIs) from potential buyers and investors. This step reflects the growing demand for high-quality residential options in Arjan, with Ashley Hills set to become one of the district’s most sought-after developments.

Ashley Hills is expected to be completed in phases, with handover timelines to be confirmed as the project progresses. The development’s strategic location in Arjan offers excellent connectivity to major roads and growing infrastructure, making it an ideal living destination.

Since its inception in 2017, TownX has focused on delivering projects ahead of schedule and with attention to detail. With over 1,774 units delivered and 2,125 apartments currently in development, the company continues to expand its footprint in Dubai’s real estate market. Ashley Hills is another milestone in TownX’s efforts to create residential communities that meet the needs of modern families while delivering long-term value.

Other key developments delivered by TownX include Easy18, Easy19, Luma21 and Luma22 in JVC. Ongoing projects include 11 Hills Park at Dubai Science Park and Luma Park Views in JVC.

Giorgio Armani, in a landmark partnership with RAK Properties, Ras Al Khaimah’s leading community developer, and SIE Group, today announced the launch of Armani Beach Residences Ras Al Khaimah. This exclusive development will feature the first Armani branded villas in the world. 

Nestled within a tranquil, naturally pristine bay on Raha Island – Ras Al Khaimah’s premier residential district within Mina – the development will comprise a highly exclusive and limited collection of beach villas and luxury apartments designed for an elevated lifestyle seamlessly integrated with the environment. Each residence will offer unparalleled direct private beach access and breathtaking, uninterrupted views across the Arabian Gulf.

Designed by Giorgio Armani and his team of architects drawing inspiration from his personal residences, the Armani Beach Residences Ras Al Khaimah embody his signature aesthetic of sophisticated simplicity and timeless elegance. This unparalleled vision sets a new standard for ultra-luxury living, redefining elegance and exclusivity within the emirate. 

Reflecting the very philosophy and values of Armani, the Residences will embody understated elegance and an uncompromising attention to detail. This will be where refined luxury is truly defined, providing a perfect world of physical and emotional harmony at home.

Residents will enjoy an unparalleled suite of bespoke luxury amenities, both indoors and outdoors – including an exclusive members-only beach club. As part of this exclusive community, residents will also be able to access a curated program of benefits and services provided by Giorgio Armani, including special events, private experiences, concierge services, and global privileges. 

This landmark launch coincides with the 25th anniversary of Armani/Casa as well as Giorgio Armani brand’s 50th anniversary, celebrating five decades of indelible influence on global quality lifestyle and design. 

Beyond the residences, the development’s exclusive beachfront setting will offer residents the opportunity to immerse themselves in Ras Al Khaimah’s stunning coastal panoramas and natural beauty, framed by the majestic Jebel Jais Mountain range. This pristine environment, home to turtles, dolphins, and migrating flamingos, further solidifies the emirate’s status as the undisputed nature capital of the United Arab Emirates (UAE). 

This pivotal partnership reflects Armani’s commitment to curating unparalleled living experiences, combining the brand’s signature understated luxury with Ras Al Khaimah’s stunning natural beauty. Crucially, it aligns seamlessly with the emirate’s ambitious Vision 2030, set to make a significant contribution to its economic, social and environmental objectives. 

Giorgio Armani, Chairman and Chief Executive Officer of the Armani Group, said: “New projects related to living fascinate me because I can bring the way of thinking of Haute Couture, that is, the use of precious materials and unique, tailored creations, into the space where we live. The villas developed in collaboration with RAK Properties, a true excellence in the sector, represent an important milestone in this journey and are even more significant because they are designed to integrate into the evocative surrounding marine landscape, offering a unique lifestyle experience.”

Sameh Muhtadi, CEO, RAK Properties commented: “At RAK Properties, we are proud to bring Armani’s iconic design philosophy to life with Armani Beach Residences Ras Al Khaimah. This transformative partnership with Armani is a testament to Ras Al Khaimah’s growing appeal and our shared vision for the future of its premium real estate proposition. This development will not only set new standards for elevated living in the emirate, but will deliver lasting value and create an unparalleled lifestyle experience within Mina.”

Dubai Land Department (DLD) is partnering with Second Century Ventures to launch the REACH Middle East accelerator program and has opened applications for the first cohort of companies. This landmark initiative, led by real estate technology pioneers Siddiq Farid and Karim Helal, invites startup companies from all industries to apply for the opportunity to redefine real estate innovation across the region.

REACH Middle East is a curated, eight-month program designed to empower up to 10 high-potential startups with the tools, mentorship and networks needed to scale locally and globally within the real estate industry. Selected companies will benefit from:

• Direct Funding and Investment: REACH provides up to $250,000 seed capital per company, strategic investor introductions and pathways for follow-on funding
• Real World Access: Work with major real estate developers, government bodies and facility managers to pilot and commercialize solutions
• Expert-Led Mentorship: Learn from industry veterans, successful founders and global thought leaders in PropTech
• Growth Opportunities: Unlock curated connections at major industry events, conferences and trade shows to drive market adoption
• Global Expansion: Plug into REACH’s exclusive global network of over 330 alumni companies

Aligned with the UAE Digital Economy Strategy, Dubai Economic Agenda D33 and the Dubai Real Estate Sector Strategy 2033 – which aim to add more than $27 billion to the economy – REACH Middle East supports the digital transformation of real estate and urban development. It complements other UAE accelerators, such as Abu Dhabi’s Hub71 and regional initiatives under the Saudi Real Estate Development Fund and NEOM Innovation Hub that align with Saudi Arabia’s Vision 2030. By fostering public-private partnerships, REACH Middle East aims to position the region as a global hub for innovation in the real estate ecosystem.

REACH is backed by Second Century Ventures, the most active global fund in real estate technology. As the strategic investment arm of the National Association of Realtors^®, SCV leverages the association’s members and an unparalleled network of executives within real estate and adjacent industries.

“We are proud to collaborate with REACH Middle East to unlock the potential of real estate tech startups across the region. With Dubai as the starting point, this accelerator will provide unparalleled support to entrepreneurs, fostering solutions that resonate throughout the Middle East and contribute to the global real estate ecosystem,” said Dr. Mahmoud AlBurai, Head of Policies and Innovation at Dubai Land Department.

“The MENA region is at the forefront of real estate innovation, and REACH Middle East is committed to empowering startups to solve real-world challenges. Our program bridges cutting-edge technology with practical real estate applications, driving sustainable growth for startups and the industry alike,” added Siddiq Farid, Managing Director of REACH Middle East.

“REACH offers a unique opportunity for startups to be part of a transformative ecosystem. We encourage ambitious startups to apply to join the next generation of PropTech trailblazers and help shape the future of real estate in the MENA region and beyond,” said Dave Garland, Managing Partner at Second Century Ventures.

REACH Middle East seeks revenue-generating startups (seed to Series A) intent on expanding into the real estate, construction, sustainability, or property management ecosystem using emerging technologies like AI, IoT, or blockchain with scalable business models with local and global potential.

Applications are now open and can be submitted at https://www.nar-reach.com/middle-east.

Aldar announced today the record-breaking sale of an eight-bedroom ultra-luxury mansion in Faya Al Saadiyat—an exclusive beachfront community located on one of the last remaining villa plots on Saadiyat Island—for AED 400 million, making it the most valued home ever sold in Abu Dhabi.

The sale reflects the sustained growth of Abu Dhabi’s luxury real estate market, driven by strong demand from high-net-worth individuals (HNWIs), long-term residents, and international investors. It follows the AED 137 million sale of Aldar’s Nobu Residences Abu Dhabi penthouse on Saadiyat Island. With Abu Dhabi’s population surpassing four million, Saadiyat Island has established itself as the most sought-after destination in the emirate. In H1 2025, Aldar recorded AED 5 billion in sales on Saadiyat Island, reflecting exceptional interest from local and international buyers. Expatriates accounted for 86% of buyers, including 46% residents and 40% non-residents, with the top nationalities comprising France, United Kingdom, China and United States. Located directly on Saadiyat Island’s pristine beach and within the award-winning Saadiyat Beach Golf Club, the Faya Al Saadiyat mansion offers the highest standards of luxury and the largest allocation of space on the island, spanning 6,561 sqm. This signature ultra-luxury residence blends architectural sophistication with complete privacy and uninterrupted 360-degree views of water and greenery.

Jonathan Emery, Chief Executive Officer at Aldar Development, said: “This record transaction at Faya Al Saadiyat sets a new benchmark for luxury real estate in Abu Dhabi and underscores the strong demand for ultra-premium, beachfront homes in the emirate. Recognised as the crown jewel of Abu Dhabi’s luxury real estate, Saadiyat Island continues to attract homebuyers and investors from around the world. This sustained momentum reflects the success of Abu Dhabi’s long-term vision, enabled by progressive government policies, long-term residency initiatives, and strategic investment in infrastructure, culture, and entertainment.”

Ghazi Saeed Al Ateibi, Executive Director Real Estate Transactions Sector at ADREC, said: “Abu Dhabi is recognized as a world leading destination for global real estate investments, driven by growing trust in a market that is well-regulated, transparent, and investor-friendly. At ADREC, our role is to safeguard this ecosystem by upholding strong governance, regulatory oversight, and seamless processes across the sector. Transactions of this scale reflect the strength of a maturing market and the effectiveness of a regulatory framework we’ve put in place designed to support and attract responsible, high-value investment.”

Behind the striking contemporary façade, the mansion redefines bespoke living with a collection of world-class amenities, including a private car gallery, a golf simulator, an in-house cinema, and sophisticated wellness and fitness suites, alongside direct access to one of the UAE’s most desirable beaches.

Faya Al Saadiyat is thoughtfully designed by the globally acclaimed 1508 London Interior Design Studio—renowned for crafting the interiors of The OWO Residences by Raffles, part of the iconic transformation of London’s historic Old War Office—and Nordic Office Architects, a homegrown design studio known for reshaping regional skylines with globally informed design.

The design draws inspiration from Saadiyat Island’s natural beauty and distinctive wildlife, combining indigenous materials with minimalist aesthetics and expansive open-plan layouts. This architectural masterpiece features Italian-made kitchens and wardrobes, bespoke joinery, and state-of-the-art appliances. Outdoors, a private beachfront pool anchors expansive living and recreational areas, framing serene views of the surrounding golf course and the pristine shores of Saadiyat Beach.

Faya Al Saadiyat is an exclusive luxury gated community of 21 super-luxury homes, including two eight-bedroom mansions and 19 six- to seven- bedroom villas, scheduled for completion in 2028. Residents enjoy seamless access to Saadiyat Cultural District, home to world-renowned institutions such as the Louvre Abu Dhabi, teamLab Phenomena, and the upcoming Guggenheim Abu Dhabi, as well as a curated mix of premium hospitality, retail, and dining offerings, including the highly anticipated Saadiyat Grove. The development is targeting the Estidama 3 Pearl rating and Fitwel certification, with sustainability embedded across the masterplan through features that promote energy efficiency, water conservation, reduced carbon emissions, and enhanced resident well-being.

Saudi Arabia has officially published the full details of its new law regulating real estate ownership by non-Saudis, following Cabinet approval earlier this month.

The comprehensive law will take effect 180 days from publication and marks a major overhaul in the Kingdom’s approach to foreign ownership of property.

The new system grants non-Saudis — including individuals, companies, and non-profit entities — the right to own property or obtain other real rights over real estate within designated geographic zones to be determined by the Cabinet.

These rights include usufruct (beneficial use), leaseholds, and other real estate interests, but will be subject to a range of controls and restrictions based on location, property type, and usage.

The law preserves all real estate rights that were legally established for non-Saudis prior to the new regulation taking effect.

However, it clearly states that ownership remains prohibited in certain locations and regions, notably in Makkah and Madinah, except under conditions for individual Muslim owners.

A key provision in the law requires the Council of Ministers — upon a proposal by the Real Estate General Authority and with the approval of the Council of Economic and Development Affairs — to define the allowable zones for foreign ownership and set upper limits on ownership percentages and durations for usufruct rights.

Foreign individuals legally residing in Saudi Arabia may own one residential property outside restricted areas for personal housing purposes. This does not apply to Makkah and Madinah.

The regulation also includes provisions for corporate ownership. Non-listed companies with foreign shareholders, as well as investment funds and licensed special-purpose entities, will be permitted to acquire real estate throughout the Kingdom, including in Makkah and Madinah, provided the ownership supports operational needs or employee housing.

Listed companies and investment vehicles may also acquire property in line with Saudi financial market regulations.

Diplomatic missions and international organizations can also own premises for official use and residence of their representatives, subject to Foreign Ministry approval and reciprocity conditions.

To ensure compliance, non-Saudi entities must register with the competent authority before acquiring property.

Ownership or real rights become valid only after formal registration in the national real estate registry.

The law introduces a real estate transfer fee of up to 5% for transactions involving non-Saudis, and outlines a penalty framework for violations.

Sanctions include fines up to SR10 million and, in severe cases such as falsified information, the forced sale of the property with proceeds remitted to the state after deductions.

A dedicated committee under the Real Estate General Authority will be formed to investigate violations and impose penalties. Decisions of this committee can be appealed to the administrative courts within 60 days.

Additionally, the law repeals a prior rule that prohibited GCC citizens from owning property in Makkah and Madinah, effectively standardizing rules for all non-Saudi entities under a single framework.

The executive regulations, which will detail implementation mechanisms and specify geographic boundaries and conditions, are expected to be issued within six months.

The new law replaces the previous foreign property ownership legislation issued under Royal Decree No. M/15 in 2000.