The UAE-based company Aqua Properties is launching two Dh3 billion projects within the next six months in response to the strong demand for off-plan apartments around the nation, particularly in Dubai.
“Aqua Properties is at the forefront of innovative real estate solutions; we currently oversee three ongoing projects and have two more in the pipeline. These projects include upscale apartments and strategically located mixed-use developments,” stated the company’s founder, Ali Tumbi.
Two of the future projects are a tower on Sheikh Zayed Road that is more than fifty stories tall and another that will be constructed on a 300,000 square foot plot of land, which is the largest land parcel in the Arjan district of the emirate.
In the first quarter of 2024, the company hopes to deliver more than 500 residential and commercial units, according to Tumbi.
According to Tumbi, Dubai’s unique market dynamics—which are shaped by cash transactions—keep it a top choice for real estate investments.
In the first nine months of 2023, Dubai registered 116,116 new property transactions valued at almost Dh430 billion, or $117 billion, according to current figures from the Dubai Land Department. The real estate market expanded significantly during that time, with values increasing by more than 36.7% and transactions increasing by 33.8% yearly.
Also Read:
In Sharjah, Sheikh Sultan welcomes the UAE astronauts Al Neyadi and Al Mansoori
