Latest news with #Akala
Arabian Post
08-07-2025
- Business
- Arabian Post
Dubai Ultra‑Luxury Property Boom Shows No Slowdown
Dubai's ultra‑luxury real estate market surged in April to June 2025, with transactions for homes priced above $10 million reaching US $2.6 billion, a 37 % rise from the previous quarter and a 63 % increase year‑on‑year, according to London‑based researcher Knight Frank. The emirate recorded 143 such deals in Q2, up from fewer in Q2 2024, underscoring its dominance in the global super‑prime segment. Palm Jumeirah held its status as the top destination for high‑end buyers, with La Mer following closely behind. Both areas have seen robust developer confidence, evident in pipeline projects like Dar Global's Trump Tower and Arada's twin‑tower Akala on Sheikh Zayed Road, aimed at the ultra‑rich. Knight Frank's global data shows Dubai remained the world's busiest market for homes over $10 million throughout 2024 and continued its leadership into Q2 2025. In Q1 2025 alone, 111 such homes sold— the strongest first‑quarter tallies ever recorded. ADVERTISEMENT Experts attribute the surge to a growing pool of ultra‑high‑net‑worth individuals attracted by tax‑friendly policies, infrastructure, and lifestyle amenities. Knight Frank's 'Destination Dubai 2025' report indicates that over US $10.3 billion in private capital, from buyers in India, Saudi Arabia, the UK, and East Asia, is earmarked for Dubai's residential market. Faisal Durrani, Head of Research for MENA at Knight Frank, noted that total luxury home sales value has risen by 282 % since 2020, and that Dubai almost matched London and New York combined in transactions over $10 million in 2024. Villa sales have been especially strong. In 2024, 68.5 % of all homes priced over $10 million were villas—a sharp increase from around 52 % in 2022–23—reflecting UHNWI preference for standalone luxury residences. Despite high demand, supply at this price tier remains limited. Listings for homes over $50 million have plunged—from 37 to just nine—prompting developers to speed up villa construction. Nearly 9,000 villas are expected by the end of 2025, with a further 19,700 slated for completion next year. This supply‑demand imbalance has pushed prices higher: villa values rose approximately 20 % during 2024 and prime neighbourhoods like Palm Jumeirah and Emirates Hills saw quarterly price increases of around 20 %. In Emirates Hills alone, land prices now range up to AED 7,154 per square foot, with some high‑end plots trading at over AED 200 million. Still, despite rising costs, Dubai's luxury home market offers relative affordability. A million dollars buys 91 sqm of prime property in Dubai, compared with just 33 sqm in London and 34 sqm in New York. However, analysts stress that several risks could temper growth. A sharp global economic downturn or a drop in oil prices might undermine demand, potentially deflating the market. Additionally, strains on infrastructure and rising rental costs—up to 20 % in some areas in 2024—highlight challenges in managing Dubai's rapid expansion. Still, momentum remains strong. Much of the surge reflects rising global wealth flows, particularly from India, Saudi Arabia, the UK, and East Asia, and government efforts to enhance Dubai's appeal. High‑net‑worth buyers are favouring off‑plan villas and branded residences in locations such as Dubai Marina, Dubai Hills Estate and Emirates Hills.
Zawya
07-07-2025
- Business
- Zawya
Arada announces sale of key penthouse at $1.4bln Dubai wellness hub
Leading Sharjah developer Arada has announced the sale of The Observatory, the showpiece penthouse at its recently launched AED5 billion ($1.4 billion) wellness-focused branded residences project - Akala - at Dubai International Financial Centre (DIFC). Valued at AED125 million ($34 million), the sale of the signature penthouse ranks as one of the top 10 apartments sold in Dubai so far in 2025, underscoring the strong global investor interest in Akala. Spanning two floors at the top of one of Akala's 220-m twin towers, The Observatory offers panoramic, unblocked views of the Burj Khalifa, Downtown Dubai, DIFC and the Zabeel area. Featuring six bedrooms, The Observatory is also notable for a number of design features including an expansive Grand Room that showcases the views, public and private wings, an art gallery and a rooftop terrace with private pool and jacuzzi, said the developer. At over 23,000 sq ft in size, The Observatory is larger than any apartment ever sold in the DIFC, and is also the biggest apartment sold in Dubai so far this year, it stated. Group CEO Ahmed Alkhoshaibi said: "We have positioned Akala as the world's most advanced wellness residences, and this sale underscores the strength of demand for a new category of real estate, which is intentional, intelligent and focused on long-term wellbeing." "In addition, the high value of this penthouse, which is rare for a non-waterfront property, speaks to the strength of Akala's location, product quality and brand positioning," he stated. Located between Index Tower and Central Park Towers, Akala project is underpinned by a precision wellness ecosystem that integrates advanced diagnostics, performance therapies and a curated hospitality model to deliver measurable health outcomes. The 534 branded residences at Akala, as well as the ultra-luxury five-star hotel located in the same complex, incorporate built-in wellness features, including air and water purification systems, circadian lighting, organic sleep systems and intelligent climate zoning. Shared amenities span more than 13,000 sqm and include a clinical wellness centre, spa, high-performance gym and studios, as well as the Akala Spa. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Arabian Business
04-07-2025
- Business
- Arabian Business
Dubai real estate: Arada sells DIFC's largest apartment in Akala for $34m
Dubai real estate developer Arada has sold 'The Observatory,' a record-breaking AED125m ($34m) penthouse at its wellness-focused Akala development near Dubai International Financial Centre (DIFC). The sale ranks as one of the top 10 apartments sold in Dubai so far in 2025, underscoring the strong global investor interest in Akala. Spanning two floors at the top of one of Akala's 220m twin towers, The Observatory offers panoramic, unblocked views of the Burj Khalifa, Downtown Dubai, DIFC and the Zabeel area. The Observatory in Akala DIFC in Dubai Featuring six bedrooms, The Observatory is also notable for a number of design features including an expansive Grand Room that showcases the views, public and private wings, an art gallery and a rooftop terrace with private pool and jacuzzi. At more than 23,000sq ft, The Observatory is larger than any apartment ever sold in the DIFC, and is also the biggest apartment sold in Dubai so far this year. Located between Index Tower and Central Park Towers, the AED5bn ($1.4bn) Akala project is underpinned by a precision wellness ecosystem that integrates advanced diagnostics, performance therapies and a curated hospitality model to deliver measurable health outcomes. Ahmed Alkhoshaibi, Group CEO of Arada, said: 'We have positioned Akala as the world's most advanced wellness residences, and this sale underscores the strength of demand for a new category of real estate, which is intentional, intelligent and focused on long-term wellbeing. In addition, the high value of this penthouse, which is rare for a non-waterfront property, speaks to the strength of Akala's location, product quality and brand positioning.' The 534 branded residences at Akala, as well as the ultra-luxury five-star hotel located in the same complex, incorporate built-in wellness features, including air and water purification systems, circadian lighting, organic sleep systems and intelligent climate zoning. Shared amenities span more than 13,000sq m and include a clinical wellness centre, spa, high-performance gym and studios, as well as the Akala Spa. Akala also features a unique 'weightless' service environment, combining AI-enabled hospitality, wellness concierges, in-home treatments and curated meal plans. Akala is LEED Gold and WELL Silver precertified and is the first location in a global pipeline of wellness-focused residences and retreats planned under the Akala brand. Construction on Akala will begin in 2026 and is scheduled to be completed by the end of 2029.
Zawya
04-07-2025
- Business
- Zawya
Arada sells signature penthouse at new wellness destination Akala for AED125mln
Penthouse is also largest apartment sold in Dubai so far this year Sale underscores global investor interest in fast-growing wellness real estate sector Dubai, United Arab Emirates: Arada has announced the sale of The Observatory, the showpiece penthouse at Akala, the recently launched wellness-focused branded residences project located adjacent to Dubai International Financial Centre (DIFC). Valued at AED125 million, the sale ranks as one of the top 10 apartments sold in Dubai so far in 2025, underscoring the strong global investor interest in Akala. Spanning two floors at the top of one of Akala's 220-metre twin towers, The Observatory offers panoramic, unblocked views of the Burj Khalifa, Downtown Dubai, DIFC and the Zabeel area. Featuring six bedrooms, The Observatory is also notable for a number of design features including an expansive Grand Room that showcases the views, public and private wings, an art gallery and a rooftop terrace with private pool and jacuzzi. At over 23,000 square feet in size, The Observatory is larger than any apartment ever sold in the DIFC, and is also the biggest apartment sold in Dubai so far this year. Located between Index Tower and Central Park Towers, the AED5 billion Akala project is underpinned by a precision wellness ecosystem that integrates advanced diagnostics, performance therapies and a curated hospitality model to deliver measurable health outcomes. Ahmed Alkhoshaibi, Group CEO of Arada, said: 'We have positioned Akala as the world's most advanced wellness residences, and this sale underscores the strength of demand for a new category of real estate, which is intentional, intelligent and focused on long-term wellbeing. In addition, the high value of this penthouse, which is rare for a non-waterfront property, speaks to the strength of Akala's location, product quality and brand positioning.' The 534 branded residences at Akala, as well as the ultra-luxury five-star hotel located in the same complex, incorporate built-in wellness features, including air and water purification systems, circadian lighting, organic sleep systems and intelligent climate zoning. Shared amenities span more than 13,000 square metres and include a clinical wellness centre, spa, high-performance gym and studios, as well as the Akala Spa. Akala also features a unique 'weightless' service environment, combining AI-enabled hospitality, wellness concierges, in-home treatments and curated meal plans. Akala is LEED Gold and WELL Silver precertified and is the first location in a global pipeline of wellness-focused residences and retreats planned under the Akala brand. Construction on Akala will begin in 2026 and is scheduled to be completed by the end of 2029. About Arada Launched in 2017 and headquartered in the UAE, Arada was created to build spaces people connect with for healthier, happier and more meaningful lives. Arada's scope of operation covers property development, retail, education, healthcare, fitness, wellness and hospitality. The master developer has so far launched nine record-breaking communities in the UAE and has expanded into the Australian market, opening an office in Sydney in 2024. Arada also operates a portfolio of complementary brands and experiences, which includes large-scale gyms, F&B and retail assets, social initiatives and visitor destinations.
Sharjah 24
03-07-2025
- Business
- Sharjah 24
Arada sells signature penthouse at Akala for AED125m
Spanning two floors at the top of one of Akala's 220-metre twin towers, The Observatory offers panoramic, unblocked views of the Burj Khalifa, Downtown Dubai, DIFC and the Zabeel area. Featuring six bedrooms, The Observatory is also notable for a number of design features including an expansive Grand Room that showcases the views, public and private wings, an art gallery and a rooftop terrace with private pool and jacuzzi. 23,000 square feet in size At over 23,000 square feet in size, The Observatory is larger than any apartment ever sold in the DIFC, and is also the biggest apartment sold in Dubai so far this year. Located between Index Tower and Central Park Towers, the AED5 billion Akala project is underpinned by a precision wellness ecosystem that integrates advanced diagnostics, performance therapies and a curated hospitality model to deliver measurable health outcomes. Ahmed Alkhoshaibi, Group CEO of Arada, said: 'We have positioned Akala as the world's most advanced wellness residences, and this sale underscores the strength of demand for a new category of real estate, which is intentional, intelligent and focused on long-term wellbeing. In addition, the high value of this penthouse, which is rare for a non-waterfront property, speaks to the strength of Akala's location, product quality and brand positioning.' 534 branded residences at Akala The 534 branded residences at Akala, as well as the ultra-luxury five-star hotel located in the same complex, incorporate built-in wellness features, including air and water purification systems, circadian lighting, organic sleep systems and intelligent climate zoning. Shared amenities span more than 13,000 square metres and include a clinical wellness centre, spa, high-performance gym and studios, as well as the Akala Spa. Akala also features a unique 'weightless' service environment, combining AI-enabled hospitality, wellness concierges, in-home treatments and curated meal plans. Akala is LEED Gold and WELL Silver precertified and is the first location in a global pipeline of wellness-focused residences and retreats planned under the Akala brand. Construction on Akala will begin in 2026 and is scheduled to be completed by the end of 2029.
