Last Month in Real Estate – UAE property news from November 2022

• Arada Launches A New Project in Dubai
• Omniyat Rolls Out A New Project in Dubai
• Aldar Announces Villas At Yas Park Views
• Danube Properties Announces A New Residential Project
• Sharjah Islamic Bank’s Real Estate Launches An Exciting Project

As we step into the last month of 2022, it’s time to take a look at the ambitious ventures and exciting developments that took place during the last month. To help you stay in the know, we bring you the top UAE real estate news for November 2022.

TOP UAE REAL ESTATE NEWS FOR NOVEMBER 2022

Let’s dig into our monthly segment of the latest real estate news in the UAE for November 2022.

ARADA LAUNCHES A $544M PROJECT IN DUBAI

Arada, one of the UAE’s leading property developers, rolled out the Jouri Hills community, which is an AED 2 billion ($544 million) project in Dubai.

Nestled in Jumeirah Golf Estates, Jouri Hills will feature around 294 high-end villas and townhouses.  This will be the first ever Arada project in Dubai.

In a recent conversation with the media, Prince Khaled bin Alwaleed, Vice Chairman of Arada, shared a few tidbits about the project:

“The construction will start in six months and it [the project] will be done in two years.”

OMNIYAT LAUNCHES A NEW PROJECT IN DUBAI

This is another exciting UAE real estate news from Dubai’s property sector in November 2022. Investors will be happy to know that luxury real estate developer, OMNIYAT, has launched a new project — ORLA, Dorchester Collection in Dubai.

Situated in Palm Jumeirah, ORLA will offer a sophisticated lifestyle in the city. This will be spread over 29,000 sq.m, featuring around 86 exclusive 2 to 4-bedroom residences, 3 grand sky palaces and one of the biggest mansions on Palm Jumeirah — replete with oversized terraces, European appliances and double-height ceilings.

Talking about ORLA, Mahdi Amjad, Founder and Executive Chairman of OMNIYAT, said: 

“Our development philosophy is to create iconic, best-in-class projects through collaborations with industry luminaries. ORLA, Dorchester Collection, Dubai, is a signature property like no other that represents the epitome of style and will set the new standards for uber-luxury real estate.” 

Built by Foster + Partners, ORLA will feature exceptional amenities such as a private cinema, a state-of-the-art gym, a private 300 sq.m beach club and cigar lounges, to name a few.

ALDAR ROLLS OUT YAS PARK VIEWS COMMUNITY IN ABU DHABI

Aldar Properties (colloquially known as Aldar) has been constantly making waves with its frequent project launches. This month is no exception. In November 2022, Aldar launched the Yas Park Views community, featuring 341 standalone houses in 3 to 5-bedroom layouts starting from AED 2.84M.

Homes in this development will have beautiful Mediterranean architecture and an increased private outdoor space.

Talking about the project, Rashed Al Omaira, Chief Commercial Officer at Aldar Development, said: 

“The strong response to Yas Park Gate from both resident buyers and local and international investors is a testament to the continued appetite to live and invest in Yas Island’s communities. Yas Park Views offers customers a final opportunity to own a single-family home in one of the capital’s most desired locations. Each aspect of Yas Park Views has been carefully planned in response to our customer’s changing needs, so we expect to see significant demand for this exclusive community.”

Once the development is completed, it will include swimming pools, gyms, clubhouses, multipurpose rooms, outdoor areas and several themed parks. The project will offer easy access to Yas Park, Yas Mall and Noya Community Hub.

Construction of the project will start in Q2 2023, with handovers expected to start in the second quarter of 2026. 

DANUBE PROPERTIES ANNOUNCES A NEW RESIDENTIAL PROJECT IN DUBAI

Dubai-based real estate developer, Danube Properties has launched an AED 550 million twin-tower project Elitz in the city. Located opposite Circle Mall in Jumeirah Village Circle (JVC), the project will comprise 550 units in studio to 3-bed layouts.

Rizwan Sajan, Founder and Chairman of Danube Group revealed a few key details about apartments:

“The best part about the apartments is that there is a swimming pool in most of the apartments. We also introduced the ‘Presidential Studio’ which comes with a swimming pool, and there are around 25 units of these. [They also have] indoor pools, outdoor infinity pools, basketball and kids areas and many other amenities.”

The cost of studios will start from AED 550k, whereas 1 and 2-bedroom units will be priced around AED 1M and AED 1.4M respectively.

SHARJAH ISLAMIC BANK’S REAL ESTATE ARM INAUGURATES THE SECOND PHASE OF A COMMERCIAL LANDS PROJECT

Investors of Sharjah are in luck as Sharjah Islamic Bank’s real estate arm, ASAS Real Estate Company has rolled out the second part of the Al Rahmaniyah commercial lands project in November. The project will be spread over 1.2 million sq. ft., featuring 318 commercial plots for sale. 

Strategically placed in Al Rahmaniyah, the project will boast easy access to Sharjah Airport, Emirates Road (E611), Rahmania Mall and Sharjah University City, along with government buildings and schools.

According to Ahmed Al Amiri, General Manager of ASAS Real Estate, 

“The project will strengthen Sharjah’s position as an ideal destination for local and international investors and owners.”

ASAS Real Estate will reveal more details about the project soon. Keep an eye out for more announcements on their social media pages.

FAQs ABOUT UAE REAL ESTATE NEWS & MORE

ARE THERE ANY NEW PROPERTY LAUNCHES IN DUBAI?

Marbella, Palm Flower and Ciel Tower are some of the hottest property launches in Dubai in November 2022.

WHAT ARE THE MOST AFFORDABLE AREAS TO RENT APARTMENTS IN ABU DHABI?

Khalifa City A, Al Muroor and Al Mushrif are some of the most popular areas to rent reasonably-priced apartments in Abu Dhabi.

That ends the list of top UAE real estate news for November 2022. As evident from these updates, the previous month saw many project launches across both residential and commercial spheres. A similar trajectory can be seen in Bayut’s UAE real estate news segment for October 2022.

Are you planning to invest in the UAE’s property sector anytime soon? Let us know in the comments below.

For more real estate industry news in the UAE, stay tuned to MyBayut.