Dubai-based developer reviving UAE property market with high-end project

Updated 03 February 2017
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Dubai-based developer reviving UAE property market with high-end project

A leading Dubai-based Russian property developer is reviving the UAE property market with the launch of a one-of-a-kind ultra luxury mega project on the Palm Jumeirah.
Driven by the robust demand for luxury homes in the city, XXII Carat, part of the Forum Group, is the latest player to enter the ultra-luxury market and has ambitious plans for the future with a number of other projects in the pipeline.
The project comprises 22 ultra-luxury villas of different styles and architecture — Emerald, Ruby and Sapphire. The developers have already sold around 30 percent of the units with construction due to be completed in late 2017. The company launched the large-scale residential project last year and is targeting wealthy buyers from the GCC as well as Russia, India and Europe.
“Demand for luxury properties is on the rise far exceeding supply in the higher price spectrums of the market and there is always a market for high-end one-of-a-kind properties,” said Anton Yachmenev, managing director of the Forum Group.
“We were keen to capitalize on this trend by offering developments that take luxury living to the next level. Buyers are on the lookout for modern, vanguard and expertly appointed villas and we want to give them what they want.
“We have a simple mission, which is driven by the belief that luxury is about more than just the address. We specialize in exquisite developments using the most stringent European building standards and finishes to provide each resident with privacy and unique views of beach and skyline. We have also scoured the globe for the best of the best for our interiors.”
According to the recent Dubai Real Estate Market Report Q3 2016 by global consultancy JLL, the luxury real estate sector remained active for the first nine months of 2016, despite the looming economic downturn and the slowdown in the real estate market.
With Dubai’s real estate sector still outperforming many other global cities, experts are predicting further growth and strong overseas interest by 2020. Key factors driving this growth include attractive rental returns, flexible payment plans and industry regulation. Apartment rental returns in Dubai offer returns of 7.6 percent which dwarfs yields in leading investment locations such as London (3.5 percent), Hong Kong (2.82 percent) and Singapore (2.83 percent).
“Dubai’s luxury real estate market is fast becoming an attractive proposition to a multitude of international buyers and we have invested a considerable amount of resources to ensure that our properties exceed expectations,” added Yachmenev.


Record-breaking attractions at LuLu Food Carnival

Updated 25 March 2019
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Record-breaking attractions at LuLu Food Carnival

LuLu Hypermarket is hosting a two-week food festival offering a wide variety of products and culinary treats inspired by flavors from around the world.
Food Carnival 2019 was launched on Sunday at the LuLu Hypermarket Murabba branch in Riyadh and runs until April 6.
On offer are a number of special deals on food products and exciting in-store activities such as cooking competitions, live cooking demos, free sampling, quiz contests and gigantic displays of food.
LuLu has partnered with Almarai and Guinness World Records to offer customers a chance to be the next Guinness World Records title holder. Customers can make an attempt to break up to nine world records, such as the fastest time to drink a 250-ml quantity of milk through a straw or the fastest time to stack cheeses. The Guinness World Records events will be held on March 29 at LuLu Hypermarket, Atyaf Mall, Riyadh; on March 30 at LuLu Mall Dammam; and on April 5 at LuLu Hypermarket, Marwah, Jeddah.
LuLu Director for Saudi Arabia Shehim Mohammed said: “LuLu has once again transformed into a culinary destination. This year, we have brought together a well-chosen product selection that will satisfy the lifestyle requirements of our customer base. This festival also celebrates the innovative spirit of our culinary talents with the support of top chefs in the country. People will have a chance to interact with celebrity chefs during the festival’s live cooking demonstrations. Super offers, such as product of the day, daily surprise, hourly offers, and so much more awaits our shoppers for the entire 14-day promotion.”