Day: September 20, 2023

The groundbreaking for Taraf’s future property, Luce, an exquisite residential complex situated on Dubai’s Palm Jumeirah, has been completed. Taraf is the real estate division of investment holding company Yas Holding, which has its headquarters in the UAE.

The building phase officially begins with the groundbreaking, moving the project one step closer to completion. Asasat Aldhafra APCC Building Contracting, a construction company that began enabling activities in August, and award-winning MZ Architects are partners in Taraf.

“Luce represents an innovative viewpoint on luxury living tailored for discerning local and international investors,” said Low Ping, CEO of Yas Holding Group. We exhibit our dedication to providing top-notch products in the real estate business by using Taraf’s distinctive and distinctive approach. We offer an invitation to see the seamless fusion of exclusivity, luxury, and unmatched design that will transform contemporary living when we start work on Luce.

The CEO of Taraf, Ahmad Shibel, stated: “We’re excited to be beginning development on Luce, Taraf’s first iconic property. With this groundbreaking, we are making progress toward our goal of redefining residential property standards in order to influence the future of luxury living. We’re honored to collaborate on this with partners who are each industry leaders.

The successful launch of Luce has piqued consumers’ curiosity in a distinctive living environment. In order to give inhabitants the utmost comfort and refinement, the development offers a variety of residential units, including roomy flats. Each apartment promises an unrivaled lifestyle in the center of Palm Jumeirah with its cutting-edge amenities, modern décor, and expansive waterfront views.

Private beach access to powdery white beaches is available at Luce, along with luxurious lifestyle facilities, roomy 2-, 3-, and 4-bedroom homes with views of the ocean, a duplex, and a penthouse. The graceful curves and organic lines found in nature, on the beach, and in the sand, as well as the fluidity found in Dubai’s desert and waterscapes, served as the basis for the building’s design.

With the groundbreaking ceremony for the first of several planned opulent residential buildings over the following three years, ACUBE Real Estate Development LLC makes its entrance into Dubai’s booming real estate market. On schedule to be completed by Q1 2025, Adhara Star, a 17-story luxury residential skyscraper in Arjan, will have 113 completely furnished 1-, 2-, and 3-bedroom flats in addition to retail spaces.

ACUBE is a brand-new division of ACUBE SFO DMCC, a single-family-owned group of businesses with more than 20 years of experience in international commercial and residential development, including significant building projects around the GCC.

Adhara Star skyscraper is the first of two constructions that Acube will launch in 2023, and the company is on track to develop and sell 1 million square feet of residential property in Dubai by 2025.

Ramjee Iyer, Chairman and Managing Director of ACUBE Real Estate Development, stated, “Our mission is to create exceptional living spaces that transcend the ordinary, enrich lives, and reshape the concept of modern living; we are committed to crafting developments that mirror our unwavering dedication to excellence and integrity. “The executive team of ACUBE has more than 20 years of experience in building and investing in real estate in Europe, India, and the Middle East.

We have a clear vision for our part in Dubai’s ongoing transition to better, smarter, more sustainable developments, as well as a profound understanding of global real estate dynamics.

The developer’s first tower, Adhara Star, in Arjan – Al Barsha South, will be a symbol of ACUBE’s dedication to fashion, excellence, and affordability. The 17-story tower’s completely furnished units include with the finest materials and equipment, including high-quality porcelain and ceramic tiling, Bosch whitegoods, and Roca sanitary ware for the bathrooms. The skyscraper also complies with vastu. Adhara Star provides residents with all the conveniences of communal living, including pools, a playground for children, a basketball court, a paddle tennis court, a running track, indoor and outdoor gyms, saunas, jacuzzis, steam rooms, and yoga studios.

AED 999,000 is the starting price for a one-bedroom apartment, AED 1.3 million for a two-bedroom, and AED 1.7 million for a three-bedroom.

The demand for high-end, well-constructed residential apartments will continue to be high as Dubai’s growing momentum and appeal as one of the world’s happiest, safest cities continue to draw foreign investors. By designing spaces that capture the spirit of luxury, functionality, and elegance, we have the chance to showcase our abilities and accelerate Dubai’s urban progress,” continued Iyer.

According to the finance minister of the United Arab Emirates (UAE), revenue increased by 31.8% in 2022, contributing to a general budget surplus the previous year.

The UAE, one of the most economically diverse countries in the Gulf, has been expanding its non-oil sectors, putting particular emphasis on industries including trade, tourism, manufacturing, logistics, and financial services.

The finance minister, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, was quoted by state news agency WAM as saying that spending climbed 6.1% year over year in 2022 to reach over 427 billion dirhams ($116 billion).

It added that the surplus will enable greater fiscal buffers to reduce potential financial risks. “In spite of the rise in revenues, the UAE continues to follow a cautious and sensible spending policy,” it stated.

It did not provide a figure for the budget surplus for the entire year, but in May the central bank reported that the surplus for the first nine months of 2022 reached $46 billion, helped by robust growth in oil and non-oil revenue as well as high oil prices. Non-financial asset purchases increased, rising 94.5% year over year in 2022.