Latest news with #AlRowaiyah
Khaleej Times
5 days ago
- Business
- Khaleej Times
Fäm Properties appointed exclusive master agency for Phase 1 of Dh60b Keturah Ardh master community
Fäm Properties has been appointed as the exclusive master agency for phase one of the Dh60 billion Keturah Ardh master development, Dubai's first heritage-wellness integrated luxury community. The first phase introduces a rare opportunity for investors and end-users to buy residential plots with permits to build luxury townhouses, a category of property that has become one of the most scarce and sought-after asset classes in Dubai's luxury market today. Located in the Al Rowaiyah First District, the project from MAG Group combines traditional Arabic architectural principles with comprehensive modern wellness innovation. Including 93 planned clusters and 558 luxury townhouse plots, Phase One is being brought to market with attractive payment plans. The wider master plan will combine Arabic heritage with advanced wellness to create a self-contained lifestyle community unlike anything else in Dubai. The name 'Ardh,' meaning 'earth' or 'land' in Arabic, reflects its strong ties to culture and nature. More than 9,800 millionaires are expected to relocate to the UAE this year. Dubai in particular is a beacon for wealthy investors, so the demand for new luxury property is very strong. Dubai's property market continues on its record-breaking path, with the first half of 2025 reaching new highs of 98,603 property sales worth Dh326.7 billion. H1 sales value rose 40% year-on-year, driven by the strongest-ever quarterly performance of 53,118 transactions worth Dh184 billion in Q2. The Q2 sales value was 25% higher than the previous peak of Dh147.2 billion set in Q4 2024, while transaction volume rose 5.39% above the earlier high of 50,400 deals recorded in Q3 last year. Firas Al Msaddi, CEO of fäm Properties, said: 'We're excited to team up with MAG Group on such a distinctive project. Keturah Ardh is a great fit for our expertise in off-plan sales, land advisory, and creating flexible payment solutions that meet the needs of today's buyers. This isn't a typical real estate launch, and it isn't a typical product. We're introducing Dubai's most exclusive heritage-wellness opportunity: freehold plots with luxury townhouse permits, ready for those who want to build, design, and invest in generational value while honouring authentic Arabic cultural heritage.' The Keturah Ardh project reflects MAG Group's 45-year commitment to excellence and innovation, with a focus on Arabic design and premium wellness amenities, including spa and sauna, yoga and pilates, running and cycling tracks and green areas. Mature landscaping features trees from Italy, Spain, Thailand, and Africa, all within a masterplanned community focused on long-term value creation. Infrastructure delivery is scheduled for Q1 2026, with construction beginning in Q4 2026 and full community completion by 2030. This community marks the fourth major project in the Keturah luxury portfolio.
Zawya
6 days ago
- Business
- Zawya
Fam named master agency for Phase 1 of $16bln Dubai wellness project
UAE-based fäm Properties has announced that it has been appointed as the exclusive master agency for Phase One of the AED60 billion ($16.3 billion) Keturah Ardh, Dubai's first heritage-wellness integrated luxury community. Located in the Al Rowaiyah First District, the groundbreaking project from Dubai master developer MAG Group authentically combines traditional Arabic architectural principles with comprehensive modern wellness innovation. True to its name Ardh (meaning earth in Arabic), it reflects its strong ties to culture and nature. The wider master plan offers a new vision for luxury living, combining Arabic heritage with advanced wellness to create a self-contained lifestyle community unlike anything else in Dubai, it stated. According to fäm Properties, the first phase introduces a rare opportunity for investors and end-users to buy residential plots with permits to build luxury townhouses, a category of property that has become one of the most scarce and sought-after asset classes in Dubai's luxury market today. Including 93 well-planned clusters and 558 luxury townhouse plots, Phase One is being brought to market with attractive payment plans. fäm Properties officially launches the project to brokers at an official briefing event at the Madinat Jumeirah Johara Ballroom tomorrow morning (July 23). On the appointment, CEO Firas Al Msaddi said: 'We're excited to team up with MAG Group on such a distinctive project. Keturah Ardh is a great fit for our expertise in off-plan sales, land advisory, and creating flexible payment solutions that meet the needs of today's buyers.' 'This isn't a typical real estate launch, and it isn't a typical product. We're introducing Dubai's most exclusive heritage-wellness opportunity: freehold plots with luxury townhouse permits, ready for those who want to build, design, and invest in generational value while honouring authentic Arabic cultural heritage,' he explained. 'Genuine heritage-wellness integration is limited, and plots for luxury townhouses in such communities are by far the most in-demand, hardest-to-find asset in the market today. For the last four years, this segment has been leading in both performance and investor interest,' he added. The Keturah Ardh project reflects MAG Group's 45-year commitment to excellence and innovation, with a focus on Arabic design and premium wellness amenities, including spa and sauna, yoga and pilates, running and cycling tracks and green areas. Mature landscaping features trees from Italy, Spain, Thailand, and Africa, all within a masterplanned community focused on long-term value creation, it stated.-TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
7 days ago
- Business
- Zawya
Fäm Properties appointed exclusive master agency for phase one of AED60bln Keturah Ardh master community
Dubai, UAE: fäm Properties has been appointed as the exclusive Master Agency for Phase One of the AED 60 billion Keturah Ardh master development, Dubai's first heritage-wellness integrated luxury community. The first phase introduces a rare opportunity for investors and end-users to buy residential plots with permits to build luxury townhouses, a category of property that has become one of the most scarce and sought-after asset classes in Dubai's luxury market today. Located in the Al Rowaiyah First District, the groundbreaking project from master developer MAG Group authentically combines traditional Arabic architectural principles with comprehensive modern wellness innovation. Including 93 meticulously planned clusters and 558 luxury townhouse plots, Phase One is being brought to market with attractive payment plans. fäm Properties officially launches the project to brokers at an official briefing event at the Madinat Jumeirah Johara Ballroom tomorrow morning (23 July). The wider master plan offers a new vision for luxury living, combining Arabic heritage with advanced wellness to create a self-contained lifestyle community unlike anything else in Dubai. The name 'Ardh,' meaning 'earth' or 'land' in Arabic, reflects its strong ties to culture and nature. Firas Al Msaddi, CEO of fäm Properties, said: ' We're excited to team up with MAG Group on such a distinctive project. Keturah Ardh is a great fit for our expertise in off-plan sales, land advisory, and creating flexible payment solutions that meet the needs of today's buyers.' 'This isn't a typical real estate launch, and it isn't a typical product. We're introducing Dubai's most exclusive heritage-wellness opportunity: freehold plots with luxury townhouse permits, ready for those who want to build, design, and invest in generational value while honouring authentic Arabic cultural heritage.' 'Genuine heritage-wellness integration is limited, and plots for luxury townhouses in such communities are by far the most in-demand, hardest-to-find asset in the market today. For the last four years, this segment has been leading in both performance and investor interest.' The Keturah Ardh project reflects MAG Group's 45-year commitment to excellence and innovation, with a focus on Arabic design and premium wellness amenities, including spa and sauna, yoga and pilates, running and cycling tracks and green areas. Mature landscaping features trees from Italy, Spain, Thailand, and Africa, all within a masterplanned community focused on long-term value creation. Infrastructure delivery is scheduled for Q1 2026, with construction beginning in Q4 2026 and full community completion by 2030. This community marks the fourth major project in the Keturah luxury portfolio, following the success of Keturah Reserve, Keturah Resort, and Keturah Bahar, establishing Keturah as one of the top luxury real estate brands globally. Key project specifications: Total Investment: AED 60 billion master community Phase One: 558 luxury townhouses across 93 clusters Plot Sizes: 142.5 to 423.2 square meters (1,534 to 4,555 square feet) Payment Plans: Three flexible options with 20% down payment Architecture: Authentic Arabic design with modern luxury amenities Timeline: Q1 2026 infrastructure, Q4 2026 construction start About MAG Group: Founded in 1978, MAG Group has established itself as a leader in luxury real estate with a $25 billion portfolio of developments and communities. The company's 45-year track record includes successful developments across the UAE and internationally. The Keturah brand, launched in 2022, has rapidly positioned itself as a leader in luxury real estate with a $5 billion asset portfolio. For further press information please contact: Tony Lewis / Narayan Marar Total Communications Email: tony@ / narayan@
The National
28-05-2025
- Business
- The National
Mag Group and China's Citic to develop $6bn Keturah Ardh luxury project in Dubai
The UAE's Mag group and Chinese conglomerate Citic have signed an initial agreement to develop a $6 billion luxury real estate project in Dubai, amid continued property and construction boom in the emirate. Keturah Ardh will span 18.47 million square feet in Dubai's Al Rowaiyah First District, with completion timelines of the phased project between two and seven years, Mag Group Holding said in a statement on Wednesday. The first phase, launched under the Keturah Ardh Couture Art brand, will start in the fourth quarter of 2025. The second phase is expected in the first quarter of next year, with subsequent phases being carried out into 2027. "Keturah Ardh exemplifies what the future of living in Dubai should look like," said Moafaq Al Gaddah, founder and chairman of MAG Group Holding. "Our aim is to create a place where people feel deeply connected to their surroundings, with nature and community embedded into daily life." The companies will develop a mixed-use residential project that includes plots, villas, residences, educational institutes and hotels, Mr Gaddah told The National. Infrastructure works will start immediately, followed by launch of the first phase. More contracts will be given in the following months, he said. Mag is the latest company to launch a mega development in the Dubai, the commercial, tourism and financial hub of the Middle East, amid sustained momentum in the emirate's luxury property market. Both the off-plan and secondary segments of Dubai's real estate market have performed well, a report this month by Cavendish Maxwell said. In the first quarter of this year, nearly 590 transactions were recorded for properties priced at Dh20 million ($5.4 million) and above, highlighting robust demand from high-net-worth individuals (HNWIs) and cementing Dubai's reputation as a global destination for luxury property, Cavendish Maxwell said. "This demand is fuelled by favourable tax policies, long-term residency incentives and the city's exceptional global connectivity, all of which continue to attract HNWIs and contribute to the luxury market's sustained growth and resilience," the report said. The influx of wealthy people to the Emirates is also helping create the boom. Last year, 7,200 millionaires arrived in the UAE, building on an influx of 4,700 in 2023 and 5,200 in 2022, property consultancy Knight Frank said in a report. The number of dollar millionaires in the UAE stood at 130,500 at the end of December, ranking the Emirates as the world's 14th-largest wealth market. Strong demand has resulted in a shortage of luxury homes in Dubai, with the number of homes available for sale for $10 million or higher falling 40 per cent to only 2,491 last year. The number of homes available for $25 million or more also fell 85 per cent, to 86 properties in 2024, Knight Frank said. Mag International Investment will be the master-developer of the luxury project, involving collaboration with leading architects, designers, fashion brands and artists from across the globe. Citic will undertake the procurement and construction of the development. Mag, established in 1978, has a portfolio valued at $3 billion, ongoing sales worth $5 billion and developments estimated at $17 billion. The group's portfolio includes real estate, contracting, engineering, industrial and commercial trading; freight services and hospitality. With the Keturah Ardh project, Chinese state-owned Citic, which manages total assets exceeding $1.67 trillion, marks its first entry into Dubai's luxury property sector, a statement said. "By leveraging Citic's wealth of expertise in advanced manufacturing, innovative materials, sustainable infrastructure and real estate, we want to shape a destination that welcomes all generations and sets new benchmarks for sustainability in the region," said Yang Jianqiang, chairman of Citic. Plot sizes within the development will range from 50,000 square feet to 200,000 square feet and the site will feature more than 100,000 trees, Mag said.
Bloomberg
28-05-2025
- Business
- Bloomberg
China's Citic, MAG Group to Work on $6 Billion Project in Dubai
Chinese state-owned conglomerate Citic Ltd. signed a memorandum of understanding to help finance the development of a planned 22 billion dirham ($6 billion) development in Dubai that's set to add thousands of homes to the city's booming market. Dubai's MAG Group and Citic will develop Keturah Ardh, which spans 18.47 million square feet in Dubai's Al Rowaiyah First District, according to a statement. The development will include low-rise towers, villas, offices, retail space as well as an AI university and a school, according to Talal Al Gaddah, senior executive vice chairman of MAG Lifestyle Development. He said the plan was for Citic to provide some of the construction financing.
