50-storey residential tower to rise on Dubai’s Sheikh Zayed Road soon

50-storey residential tower to rise on Dubai’s Sheikh Zayed Road soon

Dubai: 50-storey tower to rise along Sheikh Zayed Road as Aqua Properties invests Dh3 billion in projects

The real estate company seeks to deliver more than 500 residential and commercial units in the first quarter of 2024

Published: Tue 5 Dec 2023, 9:57 AM

Aqua Properties to invest Dh3 billion in new projects, deliver 500 units in Q1

The UAE-based Aqua Properties will launch two projects in the next six months with a combined valuation of Dh3 billion as new launches have increased substantially due to high demand for off-plan units in the country, especially Dubai.

“Currently overseeing three ongoing projects with two more in the pipeline, including upscale apartments and strategically located mixed-use developments, Aqua Properties stands at the forefront of innovative real estate solutions,” said Ali Tumbi, founder, Aqua Properties.

Among the upcoming projects are a 50-storey-plus tower on Sheikh Zayed Road and a sprawling 300,000sqft plot, marking the largest land parcel in the Arjan area.

Tumbi said the company aims to deliver more than 500 residential and commercial units in the first quarter of 2024.

Reflecting on the UAE realty market, Tumbi said Dubai’s distinctive market dynamics, influenced by cash transactions, continue to position it as a preferred destination for real estate investments, he added.

According