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

Updated 03 February 2017

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.


Ras Al-Khaimah to host Mideast’s first ‘business Oscars’

Updated 16 September 2019

Ras Al-Khaimah to host Mideast’s first ‘business Oscars’

The Stevie Awards, known widely as the “business Oscars,” has reached an agreement for a strategic partnership with Ras Al-Khaimah Chamber of Commerce and Industry (RAK Chamber) for the first annual Middle East Stevie Awards to be held in Ras Al-Khaimah in February 2020.
The Middle East Stevie Awards will recognize innovation in the workplace from across 17 MENA countries and the awards program and gala prize-giving ceremony will be held in Ras Al-Khaimah for the first three years and at least every other year thereafter. The announcement was accompanied by a call from Stevie Awards for entries for the inaugural edition.
“Hosting the inaugural edition of the Middle East Stevie Awards here in Ras Al-Khaimah is a significant accomplishment, and another noteworthy milestone to add to the emirate’s successful track record, continuing on the same path of progress that has been taking place across all sectors, in line with the directives of our wise leadership,” said Mohamed Ali Al-Nuaimi, chairman of RAK Chamber.
“I was extremely gratified when the RAK Chamber approached us about partnering with them on a new Stevie Awards program for the Middle East and North Africa,” said Michael Gallagher, founder and executive chairman of the Stevie Awards. “We have recognized the achievements of executives, entrepreneurs, and organizations across the region for many years in our other programs. The time is right for the region to have its own Stevie’s program. We are excited to launch the Middle East Stevie Awards, and look forward to the first gathering of Stevie Award winners in the program in Ras Al-Khaimah in February.”