Dubai’s boutique real estate company Pride and Property has successfully facilitated a major AED350 million ($95 million) land transaction in the city’s prime Business District, located along Sheikh Zayed Road. This acquisition underscores the firm’s growing role in the UAE’s thriving luxury real estate market.
A Landmark Achievement
The plot will serve as the foundation for an iconic new luxury tower, adding to the dynamic skyline of Sheikh Zayed Road. Spearheading the deal were Nitin Chauhan and Kunal Singh Sandhu, partners at Pride and Property, known for their expertise in managing high-value real estate transactions. Their recent successes include the sale of a villa plot in Jumeirah Golf Estates for AED300 million ($81.7 million), cementing the firm’s reputation as a key player in Dubai’s high-end property market.
This particular transaction is considered one of the largest land deals in Dubai for 2024, showcasing the city’s continued appeal to global investors and developers.
Perspectives from Leadership
Speaking about the project’s significance, Nitin Chauhan, partner at Pride and Property, said:
“This project embodies the pinnacle of luxury living on Sheikh Zayed Road. Its unparalleled location, offering stunning views of Sheikh Zayed Road and the sea, naturally drew interest from top developers. The upcoming luxury tower will redefine the skyline and demonstrate developers’ confidence in Dubai’s thriving real estate market. The city’s leadership has created a remarkable vision for the sector, which still holds immense growth potential.”
Kunal Singh Sandhu, the firm’s founder, emphasized the importance of this deal for Dubai’s high-end real estate:
“Our team dedicated considerable time and effort to this transaction, which highlights the increasing demand for high-end real estate in Dubai. The luxury property market here is on the rise, and the best is yet to come.”
Dubai’s Luxury Real Estate Momentum
The deal reflects the growing momentum in Dubai’s luxury property sector, which continues to attract international investors seeking premium developments in prime locations. The UAE’s proactive leadership and strategic vision for the real estate market further bolster investor confidence, ensuring that the city remains a magnet for ambitious and innovative projects.
With this latest transaction, Pride and Property has once again showcased its expertise in facilitating premium real estate deals, reinforcing Dubai’s position as a global hub for luxury investments.
