Dubai developer aims to invest Dh2.1 billion across projects in UAE
Clédor, a real estate development and investment firm based in Dubai, is aiming to invest Dh2.1 billion across its protfolio of projects across the UAE, the company's CEO said.
The firm recently launched Arthouse Residences in Al Marjan Island, a branded residential project in collaboration with Arthouse Hotel NYC and Prospect. Valued at Dh400 million, this development is the first-ever Arthouse-branded residential project outside of the US and is set to redefine cultural luxury living in the UAE.
'Out of the total investment of Dh2.1 billion, the remaining 1.7 billion will be in Dubai, but only in prime micro markets. We have two projects, one coming up in Meydan 1, and a villa project coming up in Wadi Al Safa. We'll be launching these projects immediately after our RAK launch,' Omar Gull, Founder of Clédor, said.
With a handover scheduled for Q1 2028 and prices starting at Dh925,000, the project is poised to attract both end-users and global investors to Ras Al Khaimah's growing luxury landscape.
Abdulla Al Abdouli, CEO of Marjan, added: 'The exquisite mix of fascinating nature and well-preserved history of Ras Al Khaimah has made Al Marjan Island a magnet for iconic developments and international brands. The launch of Arthouse Residences reinforces our commitment to elevating the island into a world-class destination that offers unmatched lifestyle experiences. We are delighted to welcome a brand like Arthouse, which adds cultural richness, design excellence, and global prestige to our master-planned community.'
The project introduces 201 units to Al Marjan Island, ranging from studios to one-bedroom apartments and one-bedroom duplexes, as well as 4 F&B-focused retail units.
Gull does not envisage the shrinking land bank in Dubai to be a problem for developers. 'Yes it is true that the land bank is shrinking, but there is a lot of land that was sold before 2008 that is still available for development. So there's a lot of opportunity of outright purchase and restructuring,' Gull said.
While most analysts are forecasting a softening of the real estate market this year, Gull remains unphased. 'It's simple mathematics — the UAE's projected population increase is around 160,000 while the total number of units to be delivered is between 30,000 to 40,000. That's four people per apartment, which is actually pretty high. So far there's a shortfall getting created over the last three to four years, so even when we see a higher supply than last year and the previous year's sales, there actually is a pent up demand which has picked up it's going to service that demand, So I don't see supply leading to any sort of softening in the market,' Gull said.
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