This week in construction: Key developments shaping the region’s future

As we move closer to the end of 2024, the real estate landscape is buzzing with significant developments and transactions across the region.

This week, Dubai's future real estate forecast for 2025 has become a hot topic for investors, while Luxe Developers unveiled their $627 million luxury project in Al Marjan Island. In Dubai, Aldar Properties made waves with a landmark acquisition of a commercial tower in DIFC, valued at $626 million. Meanwhile, Saudi Arabia continues to captivate with the opening of the Kingdom’s first seven-star hotel in AlUla and the launch of Culture Square in Historic Jeddah.

If you missed any of these exciting updates, catch up with the full stories below!

Dubai real estate forecast 2025: What should you expect as an investor?

As 2024 approaches its end, all eyes are on Dubai’s Real Estate Forecast for 2025. With the city’s property market continuing to draw global attention, both seasoned and new investors are keen to understand the future landscape.

Over the past few years, Dubai has solidified its position as a leading real estate hub, backed by government reforms, population growth, and high-yield opportunities.

But what does 2025 hold for real estate in Dubai?

Click on the link to find out

Luxe Developers launch $627mn project in Al Marjan Island, Dewan Architects in charge of design

The Luxe Developers, a leading UAE-based real estate developer firm, has officially launched La Mazzoni, a $627 million (AED2.3 billion) development on Al Marjan Island in Ras Al Khaimah.

The fully furnished luxury development is set to add another dimension to the real estate landscape in the emirate by combining green and nature-inspired elegance with world-class amenities.

Read the full story here

Aldar acquires landmark commercial tower in Dubai’s DIFC for $626mn

Abu Dhabi-based real estate giant Aldar Properties has announced the acquisition of a landmark tower in Dubai International Financial Centre (DIFC) from H&H Development, marking one of the largest commercial tower transactions in the district. The deal, valued at $626 million (AED 2.3 billion), highlights Aldar’s ambitious expansion into Dubai’s premium commercial real estate market.

Read the full story here.

Royal Commission for AlUla opens 7-star hotel in Saudi’s first UNESCO site

The Royal Commission for AlUla (RCU) and General Hotel Management (GHM) have unveiled their first flagship project, The Chedi Hegra, heralding a new era for AlUla as a premier tourist destination.

Set amidst the ancient Nabataean site of Hegra, Saudi Arabia’s inaugural UNESCO World Heritage Site, this property marks the Kingdom’s first seven-star hotel. It offers an exquisite fusion of heritage, luxury, and cultural immersion.

Read the full story here.

Saudi Arabia unveils Culture Square in Historic Jeddah, a 26,000 sq m cultural landmark

The Ministry of Culture’s Historic Jeddah Program has launched Culture Square, a landmark initiative aimed at revitalising the historic Jeddah district and positioning it as a global destination for arts, culture, and heritage.

Spanning 26,000 square metres, Culture Square blends the area’s historical legacy with modern innovation to create a dynamic space for cultural exchange and artistic expression.

Read the full story here.

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