- Vincitore Realty Builds Dubai’s First Wellness Cluster
- Union Properties Unveils New Project in Motor City
- Aldar Properties Launches The Magnolias Yas Acres
- ZāZEN Properties’ JVT Project Reaches 50% Completion
- Ruler of Dubai Approves Six Projects in Hatta
The real estate market of the UAE has been buzzing in August, with significant progress made on upcoming projects and several new exciting projects being launched. As we bid farewell to August, it’s time to take a look at the biggest developments that took place in the UAE’s property market during this month. We, at MyBayut, bring you the hottest real estate news in the UAE from August 2021.
TOP UAE REAL ESTATE NEWS FROM AUGUST 2021
Here are some of the latest updates from the UAE’s real estate market from August 2021:
VINCITORE REALTY BUILDS WELLNESS CLUSTER IN DUBAI
Dubai’s leading luxury real estate developer, Vincitore Realty has been making waves with its unique wellness cluster, currently under development. Vincitore Benessere, the developer’s newest project in Arjan, has been meticulously designed to offer a well-integrated and balanced lifestyle in Dubai.
Combining wellness with state-of-the-art technology, the project offers state-of-the-art amenities that promote holistic well being. You can expect a lagoon pool, an island gym, meditation room, soft jogging track, a Zen garden, aromatherapy and an all-sports terrain at Vincitore Benessere. And that’s not all; there will be many other facilities that cater to every aspect of physical, spiritual and emotional wellbeing in the community.
Commenting on Vincitore Benessere, Vir Doshi, director of Vincitore Realty and an ambassador from Dubai for the Global Wellness Institute, said,
As real estate developers, we build spaces where people spend 80 per cent of their life, hence, we believe it’s our responsibility to ensure that the demand for health and wellness is incorporated in every aspect of their life from physical wellness, mental wellness, emotional wellbeing, spiritual wellness, work-life balance and more.
The project is set to be delivered in Q2 2023, increasing Vincitore Realty’s portfolio value to AED 730M, compared to its previous projects: Vincitore Boulevard and Vincitore Palacio. Both projects were valued at AED 135M and AED 230M respectively.
Interested in buying a flat in Vincitore Bennesere? As per listings on Bayut, investors can expect to pay a starting price of AED 492k for these apartments.
UNION PROPERTIES UNVEILS A NEW PROJECT IN MOTOR CITY
One of Dubai’s most popular real estate developers, Union Properties, has recently announced the launch of Motor City Views. This new apartment project will be located in the heart of Motor City.
The sub-community will feature three buildings with seven floors. Each floor will have several residences, comprising studios, one and two-bedroom apartments, imbued with warm colours and contemporary interiors. Collectively, there will be 880 residences, with 313 studios, 427 one-bedroom, 133 two-bedroom apartments and 7 three-bedroom apartments.
The buildings will include several amenities such as air-conditioned sports halls, multiple swimming pools as well as a shaded playground for kids. To offer residents ease of shopping, the buildings will also consist of a retail area with various shops, eateries and leisure facilities.
When asked about the project, HE Khalifa Hassan Al Hammadi, Chairman of the Board of Directors, Union Properties, said,
”The Motor City Views project, the latest in our investment portfolio, is the true embodiment of this innovative concept, which seeks to provide an integrated lifestyle to those who are looking for unique real estate units.”
The construction of the project is expected to begin by the end of this year after getting a seal of approval from Dubai Authorities. Thanks to its strategic location and high quality amenities, Motor City Views has been one of the latest Dubai property news in August 2021.
ALDAR PROPERTIES LAUNCHES YAS ACRES THE MAGNOLIAS IN ABU DHABI
Following the success of Redwoods, Cedars and Aspens, the Abu Dhabi-based developer, Aldar Properties has unveiled another project in Yas Acres – The Magnolias. The construction of the project will begin in the fourth quarter of 2021.
The Magnolias will comprise 312 villas, duplexes and townhouses, along with community pools, retail stores, schools and mosques. The properties will also feature spacious floor plans so that residents can enjoy an extra space to live, eat, work and rejuvenate.
Villas, duplexes and townhouses in Magnolias will be available in multiple configurations. Investors will have an option to choose from three and four-bed duplexes, four to six-bedroom villas and two to four-bed townhouses. Most of the villas will be golf-course-facing, so residents can enjoy stunning views of the sprawling greens.
Aldar plans to open the bookings for the properties from 4th September 2021 and start handovers in Q3 2024.
ZāZEN PROPERTIES’ JVT PROJECT REACHES 50% COMPLETION
Among the latest real estate news in the UAE is ZāZEN Properties’ plans to finish construction of its highly anticipated Zazen One project by the end of the year. ZāZEN One has already crossed the 50% completion mark, with handovers expected to be completed by 31st January 2022.
Spanning 82 to 260 sq. m., ZāZEN One is nestled along the Al Khail Road highway, with Al Khail Avenue Mall located a kilometre away. The project has been thoughtfully-designed, with immense focus on operational sustainability, lighting and internal air quality.
Complying with Trakhees LEED Green Building regulations, the project is set to offer a comfortable and eco-friendly lifestyle in Dubai. Residents will get easy access to schools, play areas and parks located in Jumeirah Village Triangle (JVT).
With half of the infrastructure has been completed, the project will soon begin work on interior work and landscaping.
THE RULER OF DUBAI APPROVES SIX NEW PROJECTS IN HATTA
H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has approved the launch of six new projects, as a part of the Hatta development plan. The projects will include the establishment of a hotel, 1,300 m high mountain peak, chairlifts, sustainable waterfalls and trekking trails to Jebel Umm Al Nisour.
The plan will also feature the development of 200 holiday residences for tourists. The goal of the project is to establish Hatta’s position as one of the most exciting destinations to visit in Dubai and at large, the UAE. Speaking of this exciting project, the Ruler of Dubai said,
“Hatta is a model for small cities in the region. The development and tourism projects in Hatta will have a significant impact on promoting national tourism and providing distinctive tourism and cultural experience for visitors and the community.”
That brings an end to the list of top UAE real estate news in August 2021! These new advancements and projects will help enhance the UAE’s real estate sector, economy and global standing at large.
While we’ve already discussed a couple of new real estate projects being completed within the next four years, here are some of the other upcoming projects in Dubai in retail, entertainment and hospitality sectors!
If you want to learn more about the UAE’s property sector, check out the news and updates from July 2021.
For more real estate insights, updates and news, stay tuned to MyBayut.