Decoding the future: What to expect in UAE real estate in 2024
The UAE's real estate sector, particularly in Dubai, is gearing up for a transformative journey in 2024. Not much of a surprise, given 2023 was such a rising slope for the market with impressive highlights such as Palm Jebel Ali, and DIFC Living selling out in a matter of minutes!
And now, with a slew of groundbreaking projects set to debut, the landscape is buzzing with excitement. So, let us dive into the details of what's in store for investors and residents in the coming year, and we mean another year of successful real estate trends and deals taking place all around.
Burj Binghatti: Touching the sky in Business Bay
In a collaboration that redefines luxury living, big-time developer Binghatti and luxury jewellery company Jacob & Co in a recent collaboration unveiled the plan for the world’s tallest residential structure located in Business Bay. While the final height is yet to be disclosed, it is set to be a 100-storey skyscraper that will house two and three-bedroom residences.
Life at Burj Binghatti would be a little lifestyle marked by opulence. What makes it better is residents will have access to an infinity pool with panoramic views, a spa, a state-of-the-art gym, and a dedicated concierge team offering exclusive services such as bodyguards, chauffeurs, daycare, and private chefs, all at your fingertips!
Branded residences just saw an impressive upgrade with Burj Binghatti, and trust us, the amenities don’t stop short anywhere here. You can expect an aquarium too, with an office lounge for those opting to work from home!
Pricing for these exclusive residences reflects the pinnacle of luxury that this tower is, with two-bedroom apartments starting at AED 8 million and three-bedroom units at AED 10 million. This project signifies a harmonious partnership between real estate innovation and high-end luxury. Trust us, it’ll be setting a new standard in residential living.
Dubai Wasl Tower: Sustainability meets elegance
Dubai Wasl Tower, is an upcoming asymmetrical 64-storey building, that is well set to grace the iconic city skyline. Emphasising on sustainability in alignment with COP28, and the Urban Master Plan of 2040, the tower will stand among the world's tallest structures, and will utilise ceramic fins for energy efficiency.
This sustainable living project spans 167,733 square metres and integrates residential apartments, office spaces, restaurants, and a Mandarin Oriental hotel, all within! The location of this standout tower is strategic, as it sits right by Dubai’s famous Burj Khalifa and the new City Walk Development. Being easily accessible via Sheikh Zayed Road, and Jumeirah, this tower sits in the centre of Dubai (quite literally). Not to mention, this location is great for those who are searching for ease and convenience!
Hesham Abdullah Al Qassim, the CEO of Wasl Group, also shared the urgent need for sustainable construction in the region, as he mentioned Wasl Tower represents a leap towards smarter, more sustainable urban developments, coming in line with the Urban Master Plan of 2040.
Ciel Tower: Reaching new heights in hospitality
Ciel Tower is one many of us have probably already heard of, but if you haven’t yet, then here’s what you need to know: Ciel Tower is set to become the world’s tallest hotel, with plans to surpass the current record-holder, Gevora Hotel on Sheikh Zayed Road.
Set to be 82 storeys and 365 metres high, the tower has unparalleled luxury and breathtaking views, at every corner. The project is designed by NORR, a London-based architect, who has included the tower to feature a 300-metre tall interior atrium, including a rooftop deck, spa, travel concierge, dining options, a swimming pool, and a business lounge, all at the disposal of residents.
Now, Ciel Tower faced a couple of delays during the pandemic but now is on schedule for completion in Q1 2024. So, if you want part of the sale, now’s the best time!
Expo Golf Villas 4: Emaar's growing legacy
Expo Golf Villas 4 is an extension of the Expo Golf Villa project, set to complete in 2024 in Emaar South. The development includes an 18-hole championship golf course right by it, spacious community, retail centres, parks, and more.
Emaar had reported successful sell-outs for the first five phases, with the sixth phase currently available. Investors can choose from contemporary and modern architectural styles.
And who’s to say it's going to be on the market for long? So, we’d suggest you get behind that deal at the earliest!
Marsa Al Arab: Ultra-luxury living by the beach
Is the Burj Al Arab one of your favourite Dubai icons?
Marsa Al Arab, you could say is the sibling of Burj Al Arab, which is set to be under the Jumeirah group portfolio, in a sailboat design-inspired property. The property will be overlooking the Burj Al Arab and is part of a wider development by Dubai Holding. The area will house luxury villas, an 83-berth superyacht marina, and a boardwalk!
Let’s get into the nitty-gritty: The property is set to feature 386 rooms and suites, four penthouses, and 83 luxury hotel apartment suites. And let’s not forget some more luxurious facilities that range from pools, spas, wellness centres, to exquisite dining options.
Earlier this year, Marsa Al Arab witnessed a record-breaking real estate transaction with the sale of a AED 420 million penthouse by Luxhabitat Sotheby’s International Realty. The penthouse, spanning 24,628 square feet, boasts 17,000 square feet of outdoor areas with panoramic ocean views. Now, that’s a dream home!
Want to know more about Marsa Al Arab? Click here to read our blog on all the details about this project.
Impressive, right?
And as we step into 2024, Dubai's real estate canvas promises a vibrant tapestry of innovation, sustainability, luxury, and community living. These projects symbolise the city's continuous evolution, blending modernity with a commitment to redefine the standards of global living.
Keen to call any of these projects your future homes or investments? Get in touch with our Head of Developer Sales; Fintan Flannelly.