Skip to content Skip to Search
Skip navigation

Al Habtoor Group to launch $2.6bn projects in Dubai

WAM
Al Habtoor said the UAE and Dubai have always been a safe haven for many nationalities

Dubai-based Al Habtoor Group (AHG) will launch three residential projects in the emirate next year worth AED9.5 billion ($2.59 billion).

Khalaf Ahmad Al Habtoor, founding chairman of AHG, said the new projects include residential towers, one of which, in Al Habtoor City, will be the “largest in the world in size and number of apartments” and carries a construction cost of AED4.5 billion.

“It is a vertical community that caters to all lifestyle needs with over 20 amenities, including an infinity pool overlooking the Dubai skyline,” Al Habtoor said.

The second real estate project is a AED2.5 billion residential development in the Habtoor Grand Resort in JBR.

Al Habtoor revealed the third project involves the AED2.5 billion re-development of the Habtoor Tower in Dubai Marina, which will be replaced with a larger, ultra-luxurious residential tower.

He added that the expanded portfolio will be financed internally. 

“The UAE, in general, and Dubai in particular, has always been a safe haven for a multitude of nationalities, and we see it being safer than ever with all the enhancements making it the best place globally for investment and attractive returns,” he said.

Sales of off-plan and secondary properties in Dubai reached a 12-year high in the third quarter of this year, both in terms of volume and value, according to a report by Property Finder.

A total of 25,456 sales transactions worth AED69.72 billion ($18.98 billion) were recorded from July to September, marking an increase of 62 percent in volume and more than 65 percent in value, compared with the third quarter of 2021.

Latest articles

UAE France

Climate transition galvanises ties between UAE and France

Climate transition is becoming a central focus of economic cooperation between the UAE and France as the countries agreed to establish a “Bilateral Climate Investment Platform”. The platform aims to accelerate joint projects and investments in clean energy sectors, with a particular focus on advancing the decarbonisation of industries such as steel, cement and petrochemicals. […]

Baghdad South power plant: Iraq generates 80% of its power using fossil fuels

Iraq plans push on solar and green hydrogen projects

Iraq is planning to build solar plants and its first green hydrogen project as part of a strategy to tackle power shortages and reduce its carbon footprint. The country’s cabinet has approved a proposal to install 12 gigawatts (GW) of solar power by 2030, said a National Investment Commission representative, Rahim Al Jaafari. Projects capable […]

Neom wellness Elanan

Neom announces ‘ultra-modern’ wellness resort

Saudi Arabia’s mega-city Neom has announced plans for another wellness resort on the Gulf of Aqaba.  The new site, Elanan, will be a wellness resort with architecture that uses “ultra-modern design techniques to form intricate sculptures that merge with the surrounding natural beauty,” Neom said on its website. The website shows images of a futuristic-looking […]

Muslim pilgrims pray on the Mount of Mercy outside the holy city of Mecca during the annual hajj pilgrimage in 2023

Saudi visas on arrival for European and US pilgrims

Saudi Arabia is offering visa on arrival for pilgrims who are resident in the EU, US and UK, or who possess a valid visa for those countries. The decision is part of efforts to boost religious tourism to the country.   The Saudi ministry of Hajj and Umrah revealed the new regulations for the Umrah pilgrimage […]