Symbolic Developments launches AED 210mln Symbolic Zen Residences in Al Furjan
Symbolic Developments, the real estate division of the Speedex Group, has emerged as a developer that prioritizes more than just brick and mortar. With a sharp focus on community, well-being, and sustainability, the brand continues to build spaces that feel as good to live in as they look.
With Symbolic Zen Residences, Symbolic brings to life homes that nourish physically, emotionally and spiritually. Located along Al Asayel Street in Al Furjan, the project features just 82 exclusive homes, offering 2.5-bedroom apartments and 3.5-bedroom garden residences. The homes are fully furnished, Vaastu-compliant and feature closed kitchen, en-suite bedrooms, panoramic balconies, and expansive 12-foot ceilings that flood the spaces with light and openness. Adding to the sense of serenity are French windows, private garden terraces, and a floor plan that maximizes ventilation and views - all part of what Symbolic calls their 'Zen Garden Residences' theme.
'At Symbolic, we don't just build structures - we craft spaces that resonate with the way people truly want to live,' says Murtaza Moiz, Vice Chairman of Symbolic Developments and Speedex Group. 'Each of our projects reflects our commitment to creating something genuinely meaningful places that promote well-being, foster a sense of belonging, and stand the test of time. Zen Residence s brings that vision to life by offering not just luxury, but a lifestyle rooted in balance, comfort, and community. It's about building homes people are proud to return to every single day.'
'We've designed Symbolic Zen Residences to stand out not just in aesthetics, but in the experience it offers residents,' adds Karan Arora, Head of Sales and Marketing at Symbolic Developments. 'From 12-foot-high ceilings and panoramic balconies to a first habitable floor elevated 50 ft above ground, every element has been chosen to amplify comfort, privacy, and openness. It's a low-density community with just 82 homes each fully furnished, Vaastu-compliant, and equipped with smart home automation. Even the plot itself was carefully selected, a coveted corner plot with roads on three sides, offering unobstructed views and natural light from all angles. Emphasis on these minute details reflect how Symbolic Developments' commitment to redefining what premium city living can truly be."
Symbolic Zen Residences is designed to be a wellness-focused sanctuary. The development includes temperature-controlled pools, a yoga and meditation deck, a jogging track, kids' play area, a jacuzzi, and steam and sauna rooms. Residents can enjoy peaceful areas to relax, recharge, or connect with neighbors fostering a welcoming and uplifting atmosphere.
'Sustainability is woven throughout the project. As part of Symbolic's broader commitment to green development, the residences include EV charging stations, smart energy solutions, and environmentally responsible materials; a forward-looking approach that aligns with the UAE's growing emphasis on sustainable living', affirmed Murtaza Moiz.
Strategically located just 2 minutes away from Discovery Gardens Metro Station, the development offers seamless access to Dubai Marina, Downtown Dubai, DIFC, Expo City, and major airports — making it ideal for both families and professionals. Retail showrooms on the ground floor add convenience, while the elevated podium level ensures privacy and quiet above the bustle of the city.
With Symbolic Zen Residences, Symbolic Developments continues to establish itself as a trusted name in timely delivery, architectural elegance, and community-driven innovation shaping a future where luxury and sustainability live in harmony.
About Symbolic Developments:
Symbolic Developments, a division of the Speedex Group, a Dubai-based multinational conglomerate with a 35-year legacy, specializes in upscale real estate offerings. Focusing on premium residences within family-centric communities, they prioritize delivering top-notch homes that elevate residents' lifestyles. The name 'Symbolic' embodies their projects' fundamental ethos and purpose, signifying the potency of symbols in conveying intricate concepts, emotions, and aspirations. They believe developments should transcend mere physical structures, serving as emblems of our dedication to sustainable living, community integration, and holistic well-being.
www.symbolic.ae
Speedex Group:
Speedex Group is a Dubai-based conglomerate that has been making waves in the retail industry since its inception in 1991. The company was founded by Mr. Moiz Tayebali Lokhandwala, a visionary entrepreneur with a deep-rooted passion for quality and sustainability.
Speedex Tools, the flagship company under the esteemed Speedex Group, is a leading retailer, wholesaler, and distributor of tools, hardware, and home-improvement products in the U.A.E. With a legacy of over three decades, they have pioneered the comprehensive hardware store concept.
Unsfarms, an esteemed division under the Speedex Group, shares the same commitment to building a sustainable future for food production. Its mission is to deliver high quality, farm-fresh produce grown year-round in the UAE, right to your doorstep.
www.speedexgroup.ae
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Business
an hour ago
- Gulf Business
Can the Middle East, Europe replace China in driving luxury fashion demand?
Image: Image for illustrative purposes/ BAV TAiLOR/ Arab Fashion Week Europe is the global epicentre of fashion, blending cultural heritage, luxury craftsmanship, and design innovation. However, over the last plus two decades, China and Chinese consumers have dominated demand in the fashion and luxury segment. Post Covid, this dominance has started to recede, as China grapples with slowing economic growth, falling property prices, changing demographics and falling income levels. Leading European and other global brands are pivoting away from China; however, till recently, they were not able to find a direct substitute for Chinese consumer demand. The US as a market remains a guessing game for these brands due to the dangling sword of tariffs and depleted savings. India has potential but it is probably too early to count it as a meaningful substitute, as GDP per capita is still below $3,000 (nominal, 2025 est). This brings us to the question; can Europe along with the The Middle East is increasing in importance, as affluent, ultra-high net-worth consumers make the region their home. As anecdotal evidence, LVMH, Hermes and few other iconic brands have started to create special collections for the UAE and Saudi Arabia customers and may offer exclusive products tailored to the region. Historically, higher oil prices, fashion and luxury have shown some positive correlation, as shown in the below chart from start date of 2019 to middle of 2022. This trend, in our view, may play out again in the future in the Middle East and therefore push up demand for fashion and luxury. Europe is also potentially back in focus as a possible consumer market. Falling rates and the prospect of large fiscal stimulus could act as a positive trigger to rising disposable income, which in turn often leads to greater spending on fashion and luxury. Other key fashion retail trends impacting the global luxury sector 1. Retailers pivoting to Europe amid rising US tariffs: Growing numbers of retailers and consumer brands are shifting their focus to Europe and other markets from the US, as they expect US tariffs to spark price hikes that will drive American consumer demand down. German clothing brand Hugo Boss has already rerouted China manufactured products away from the US and observed a notable slowdown in American consumer spending. European online fashion retailer Zalando reported a rise in inquiries from global brands looking to expand within Europe, citing declining US demand due to expected price hikes. Adidas noted that while 20 per cent of its revenue comes from the US, it aims to regain momentum in other markets like Europe to compensate for potential losses. This geographic diversification reflects a broader industry pivot toward Europe. 2. Nearshoring gains momentum —Turkey and Tunisia lead Europe's strategic shift: European apparel brands are increasingly shifting toward nearshoring strategies, with Turkey and Tunisia emerging as key sourcing hubs. In 2023, Turkey's share of textile and apparel exports to Europe rose to 6 per cent, surpassing Vietnam, as over 25 per cent of European brands viewed Turkey as a critical partner. Major players like Inditex, H&M, Boohoo, and Asos have expanded operations in the country to ensure supply chain agility and regional responsiveness. Simultaneously, Europe is strengthening ties with Tunisia through a landmark MoU signed in April 2025 between EURATEX and FTTH, which reinforces industrial cooperation and supply chain integration. With EUR2.5bn in textile exports to the EU in 2024, Tunisia is positioned as a strategic nearshoring partner supporting the EU's goals of sustainability, resilience, and reduced dependency on distant markets. 3. Regulatory simplification and compliance realignment: The European Commission's Omnibus simplification package, presented in February, introduces key changes to sustainability-related legislation impacting the textile value chain, including the CSRD (Corporate Sustainability Reporting Directive) and CS3D (Corporate Sustainability Due Diligence Directive). The reforms aim to reduce compliance costs and streamline reporting requirements, particularly benefiting SMEs by limiting excessive data requests from large buyers. This shift reflects the EU's broader effort to balance regulatory ambition with business practicality, offering an opportunity for well-positioned textile firms to gain competitive advantage through transparent, cost-effective ESG strategies. 4. Circularity compliance reshaping the EU textile industry: New EU regulations are accelerating a fundamental shift towards circular business models in the textile sector. With the Ecodesign for Sustainable Products Regulation (ESPR), Waste Framework Directive, and Waste Shipments Regulation now in force, companies must prepare for mandatory eco-design, supply chain traceability, and end-of-life accountability. The writer is a senior advisor and the head of Equity Investments at Abbey Road Investment Group.
Zawya
an hour ago
- Zawya
ADIB advances sustainable finance agenda with $4.7bln in sustainable finance mobilised
ABU DHABI: Abu Dhabi Islamic Bank (ADIB) has reported the mobilisation of over AED17 billion in sustainable finance as of year-end 2024, marking continued progress toward its AED60 billion sustainable finance commitment by 2030. This update coincides with the release of ADIB's 2024 Sustainability Report, which details material advancements in climate alignment, ESG governance, and inclusive growth in line with UAE Net Zero 2050 strategy and UAE 2031 vision. This year's report highlights key achievements, including the publication of ADIB's first sector-specific financed emissions targets, making it the first Islamic bank in the region to set such interim 2030 targets. These cover six high-emission sectors, such as real estate, utilities, and home finance, aligned with IEA Net Zero scenarios and the UAE's national decarbonisation strategy. As part of its commitment to international best practices, ADIB also conducted a double materiality assessment in accordance with the European Sustainability Reporting Standards (ESRS) to evaluate both the financial and societal impacts of its activities, a critical step to understand the material impacts, risks and opportunities (IROs) on the economy, environment, and people. ADIB's Double Materiality Assessment was performed within the context of each of the ESRS topical standards, covering environmental, social, and governance issues. ADIB also published its inaugural Green Sukuk allocation and impact report for its US$500 million Green Sukuk issuance. As of December 2024, 90 percent of proceeds have been allocated toward renewable energy, energy efficiency, and sustainable water infrastructure, contributing to over 607,000 tonnes of estimated annual avoided emissions. Operationally, ADIB reported an 87 percent drop in Scope 1 emissions compared to 2022 and a 3.51 percent reduction in Scope 2. These improvements reflect continued investments in energy efficiency, electrification, and operational optimisation across the Group. Commenting on this, Mohamed Abdelbary, Group Chief Executive Officer at ADIB, said, 'Putting sustainability at the heart of what we do is one of the three key pillars of our 2035 vision. We're proud of the progress we're making, and how we're using our financing to contribute to the transition of our customers and the economy. Our latest sustainability disclosures reflect our steadfast commitment to ethical, inclusive, and climate-aligned banking. From leading the region in green sukuk to setting the benchmark on sectoral decarbonisation, we are taking decisive steps toward a low-carbon future. Abdelbary added, 'Our double materiality assessment reinforces ADIB's commitment to credible, decision-useful disclosure. It ensures we understand not only how sustainability impacts our business but how our business impacts the environment, society and economy. This is central to how we plan, report and act. ADIB continued to strengthen its social impact agenda in, achieving a 44 percent Emiratisation rate, with women comprising 72 percent of UAE national hires and 39 percent of the total workforce.
Zawya
an hour ago
- Zawya
Arabian Gulf Steel gets key sustainable financing from Mashreq
Mashreq, a leading financial institution in the Mena region, has announced the provision of an AED126 million ( ) sustainable financing facility to Arabian Gulf Steel Industries (AGSI) to help the company's smooth transition toward cleaner industrial practices by 2030. One of UAE's largest private sector steel makers, ASGI is also a recycler and a recognised leader in low emission steel production. Its operations are fully based on local recycled raw materials and powered mostly by renewable energy. The transaction will further support AGSI's sustainability agenda and enable the company's transition toward cleaner industrial practices in line with UAE Vision 2030. As one of the UAE's first steel producers to secure a green facility tied to emissions goals, AGSI is setting a precedent for how industrial players can integrate environmental performance into their financing strategy. AGSI's carbon neutrality was verified by DNV, leading global assurance and certification firm, confirming emissions of 0.13 tonnes of CO₂ per tonne of crude steel. Looking ahead, the company plans to produce 5 million tonnes of green steel by 2030 and aims to cut emissions by 95 percent compared to traditional steelmaking. The facility will fund environmentally friendly projects focused on improving production efficiency to help AGSI meet these targets. It will also accelerate the adoption of green technologies, with cost savings expected over time through better energy use and reduced operating expenses. Joel Van Dusen, Head of the Mashreq Corporate and Investment Banking Group, said: "AGSI is setting a benchmark for low-emission steel production, and we are pleased to provide a financing solution that enables them to scale their efforts. Responsible finance is a business imperative for Mashreq, and we are focused on delivering structures that help our clients lead that transition with confidence." Steel industry is currently responsible for 7% of total global CO₂ emissions. This facility represents a significant step forward for green finance in the Middle East, applying sustainable funding to a sector that is traditionally difficult to decarbonise. Faisal AlShimmari, Head of ESG at Mashreq, said: "This transaction reflects a broader shift taking place across the region's industrial sector, where more companies are using finance as a strategic tool to meet their sustainability goals." It is the latest addition to Mashreq's pledge to facilitate $30 billion in sustainable finance by 2030. "Steelmaking remains one of the most resource-intensive industries globally, and AGSI is among the first in the UAE to secure a green facility that directly supports its decarbonisation efforts," stated AlShimmari. "This deal also reinforces Mashreq's leading role in driving sustainable industrial growth in the UAE and the region by aligning finance with tangible environmental outcomes," he added. Asam Hussain, founder and CEO at AGSI said: "Securing this facility reflects both the strength of our business model and the growing confidence in industrial sustainability as a viable path forward. Our partnership with Mashreq marks an important step forward in our growth journey and our shared commitment to a low-carbon future." "It gives us the momentum to keep moving forward, scaling responsibly, and continuing to deliver real value to the UAE's green economy," he stated. The company has achieved net zero carbon emissions per tonne of steel and remains committed to carbon neutrality through 2035 and beyond. By 2030, AGSI aims to produce 5 million tons of low-carbon steel while maintaining a 90% reduction in emissions compared to traditional steelmaking. The company has already eliminated more than 7.28 million tons of carbon dioxide emissions through its current production model.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
