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Dubai real estate: Infracorp launches AED600m California residences in Wadi Al Safa
Dubai real estate: Infracorp launches AED600m California residences in Wadi Al Safa

Arabian Business

time23-06-2025

  • Business
  • Arabian Business

Dubai real estate: Infracorp launches AED600m California residences in Wadi Al Safa

Infracorp has launched sales for California Residences, a new AED 600 million residential development located in Wadi Al Safa, Dubai. The project offers a mix of apartments, villas, and townhouses designed around green living principles and community-centric planning. Positioned near major attractions such as Global Village and IMG Worlds of Adventure, California Residences features a gated community with landscaped gardens, a central park, walking trails, and communal facilities intended to promote social interaction and well-being. The launch, which began on 11 June 2025, introduces a range of units starting from AED 1 million, with handover scheduled for Q2 2028. The available configurations include: 1-bedroom apartments (approx. 750 sq. ft.) starting from AED 1 million 2-bedroom units (approx. 1,200 sq. ft.) from AED 1.6 million 3-bedroom homes (ranging from 1,300 to 1,800 sq. ft.) from AED 1.8 million The project incorporates a clubhouse, fitness facilities, multiple swimming pools, and dedicated social lounges, offering residents access to both privacy and shared lifestyle amenities. The development also aims to integrate the convenience of apartment living with the openness of a villa community. 'California Residences reflects our long-term vision of building communities that prioritise quality of life, sustainability, and social connection,' said Majed Abdulla Al Khan, CEO of Infracorp. 'Wadi Al Safa is one of Dubai's most promising growth areas, and we're proud to bring a development that offers not just homes, but a holistic lifestyle.' Nada Alkoohiji, CFO of Infracorp, described the project as a strategic investment opportunity. 'Starting from just AED 1 million, the project offers a rare opportunity to own a home in a well-planned community near major attractions. We're confident this launch will appeal to both end-users and investors looking for solid returns in a high-demand area,' she said. California Residences marks the latest addition to Infracorp's regional real estate portfolio, which spans more than 250 million square feet across the GCC, North Africa, and South Asia. The company, with a capital base of $1.2 billion, manages assets valued at nearly $3 billion.

Hong Kong's Northern Metropolis can benefit from EU firms' expertise: John Lee
Hong Kong's Northern Metropolis can benefit from EU firms' expertise: John Lee

South China Morning Post

time23-06-2025

  • Business
  • South China Morning Post

Hong Kong's Northern Metropolis can benefit from EU firms' expertise: John Lee

Hong Kong's leader has called for more cooperation with European businesses on the Northern Metropolis, a key initiative aimed at driving future growth and sustainability for the city, a day after a top Beijing official urged expediting the megaproject. Advertisement Chief Executive John Lee Ka-chiu said on Monday during his opening remarks at the sustainability event Greenway 2025 that Hong Kong and the European Union could work together to find new solutions to climate change. 'I look forward to the expertise and support of EU companies in the Northern Metropolis, our new engine for growth, dedicated to green living and the area's long-term green development,' Lee said. On Sunday, Lee revealed that Hong Kong and Macau Affairs Office director Xia Baolong had called on the city's authorities to speed up work on the megaproject by removing barriers. The Northern Metropolis scheme, which includes an innovation hub called the San Tin Technopole, aims to turn 30,000 hectares (74,132 acres) of land into a new engine for economic growth, with a population of about 2.5 million and providing around 650,000 jobs. Advertisement Monday's event was organised by the EU Office in Hong Kong and the city's European Chamber of Commerce under the theme of 'accelerating changes'. Both Hong Kong and the EU have set ambitious sustainability goals as they each seek to achieve carbon neutrality by 2050.

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