Azizi Developments has said that 80% of the released units at Azizi Ruby in Jumeirah Village Circle (JVC) have been sold-out. The project offers studio, one-, two- and three-bedroom homes complemented by amenities such as a clubhouse, cinema, swimming pools, a gym, and children’s play areas.

Of the 20 nationalities that have acquired units, Emiratis are said to account for the the largest demographic share at 9%. Investors from Western and European countries such as the United Kingdom, United States, Italy, and Portugal comprise 29%, while those from South Asian nations, notably India and Pakistan, make up 27%. Buyers from the GCC and MENA region, including the Kingdom of Saudi Arabia, Egypt, and Lebanon, represent 15%, reflecting Azizi Ruby’s regional and international investors, said the statement.

Farhad Azizi, Group CEO of the Azizi group of companies said, “We are pleased with Azizi Ruby’s strong uptake, with 80% of the released units having sold so swiftly, within just months of its launch. This reflects the growing demand for ideally situated, thoughtfully designed homes and the trust our investors and end users continue to place in us. Ruby exemplifies our commitment to creating integrated, lifestyle-oriented communities in key growth corridors, such as Jumeirah Village Circle. We now look forward to completing the construction in a timely and quality-prioritising manner.”

Azizi Ruby, a contemporary, nature-inspired residential tower in  JVC, was designed to balance tranquility with modern convenience. It offers connectivity to Dubai’s business, entertainment, and retail hubs, all while being surrounded by greenery and over 30 landscaped parks. Benefiting from its proximity to highways, and easy access to destinations like Dubai Marina, Internet City, and Media City, Azizi Ruby offers urban comforts, convenience, and nature, the statement concluded.

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Corinthia Group, trading as IHI plc, announced its recently formed partnership with Action Real Estate Company of Kuwait has acquired two boutique hotel properties totalling 100 keys in Beverly Hills, California. The acquisition of the neighbouring Maison and Mosaic Hotels by the Action Corinthia joint venture, in which IHI plc owns a minority stake, is part of a broader strategy for the Beverly Hills market.

The Corinthia Group’s primary focus is on high-end real estate projects and operations. Last December, the group announced a strategic partnership with Kuwaiti-based Action Real Estate Company to explore investment opportunities in luxury hotels and real estate at prime locations across the Americas and beyond.

Simon Naudi, Corinthia Group CEO said, “This is an important step forward for Corinthia. Beverly Hills is one of the world’s foremost hospitality destinations and we are determined to add value and create luxury products and services to the benefit of the local community and our Corinthia brand’s global positioning.”

Action Real Estate Company Chairman Sheikh Mubarak A. M. Al Sabah said, “We are thrilled to announce our entry into the prestigious Beverly Hills market, marking a significant milestone in our strategic partnership with Corinthia. As a company with a strong track record in global real estate and hospitality investments, this transaction represents an exciting new chapter for us. With decades of experience in markets around the world, including Europe, the Middle East, and Asia Pacific, we are now expanding into the United States, which remains a key market for future growth and innovation.”

The hotels will be operated in the immediate term by a specialist Los Angeles operator Palisociety under current branding arrangements, under the supervision of Corinthia’s development arm Corinthia Real Estate Ventures (C-REV) and its Managing Partners Marcus Pisani and Alex Chazkel. C-REV will also handle asset management and explore opportunities for future value creation.

Corinthia marked its entrance into North America as a hotel operator with the opening of The Surrey, A Corinthia Hotel in New York, which has been transformed into a signature property featuring 100 guestrooms and suites and 14 private residences, bringing a new design and luxury experience to the Upper East Side of Manhattan.

The group said it also recently completed the redevelopment of Brussels’ historic Grand Hotel Astoria, following a rebuild and restoration of the landmark property and announced plans to operate a landmark 102-storey hotel and residential project under development in Dubai.

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Tanmiah Food Company has announced a partnership with Emerge, a distributed solar, battery storage, off-grid solar and hybrid solutions for commercial and industrial clients, a joint venture between Masdar and the EDF Group.

As part of this collaboration, Emerge will develop a three megawatt-peak (MWp) solar power plant at Tanmiah’s facility in Haradh, reinforcing its commitment to sustainability and supporting the Kingdom’s clean energy objectives. The agreement was signed at the Ministry of Environment, Water, and Agriculture by Zulfiqar Hamadani, Group CEO of Tanmiah Food Company, and Michel Abi Saab, General Manager of Emerge, a statement outlined.

Under the agreement, Emerge will provide a full turnkey solution for Tanmiah, including finance, design, procurement, construction, operations, and maintenance of the installation for 25 years. The solar power plant will provide 35% of the electricity required to run the agriculture processing facility, avoiding more than 3,850t of CO₂ annually. This is equivalent to more than 800 households’ electricity usage for a year, the firm explained.

Zulfiqar Hamadani, Group CEO Tanmiah commented, “At Tanmiah, sustainability is at the heart of our business strategy. The signing of this project with Emerge marks a significant milestone in our journey towards a more sustainable future. By investing in renewable energy, we are not only reducing our carbon footprint but also taking a crucial step toward our broader sustainability ambitions. By scaling these successes, we’re redefining what’s possible and inspiring meaningful change across the company and the sector aligned with Vision 2030 targets related to renewable energy.”

Michel Abi Saab, Emerge General Manager added, “Saudi Arabia’s agriculture sector is on the right track to transform its energy supply. At Emerge, we are committed to supporting the ecosystem and businesses such as Tanmiah, which are ready to adopt more sustainable and environmentally friendly operations. Tanmiah’s sustainability ambitions are industry-leading and powering this production facility with solar will play a key role in achieving these objectives. We are excited to support their energy transformation through our full turnkey solution with no upfront costs. This approach facilitates smooth and easy installation for our customers in commercial and industrial industries across the region.”

Sustainability is embedded in Tanmiah’s operations, with the company’s vision to become the global halal sustainable healthy protein company by 2030. This renewable energy partnership with Emerge will support the company in making this vision a reality. The solar power agreement with Tanmiah underpins Emerge’s ambitions to help the agricultural sector adopt clean energy sources at no upfront cost. This is the second project for Emerge supporting the decarbonisation of agricultural operations in the GCC, the statement concluded.

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Developer The Luxe Developers said it has experienced an increase in interest for its latest development, La Mazzoni, due to the growing global demand for real estate with health and well-being amenities.

As the UAE continues to attract ultra-high-net-worth individuals (UHNWIs), the demand for premium residential properties has also witnessed growth. Recent reports have highlighted a shift in buyer preferences towards homes that promote well-being, privacy and sustainability.

According to research from Transparency Market Research, the global wellness real estate market where developers prioritise lifestyle, health, and environmental sustainability stood at US $438.3bn in 2023 and is expected to grow at annual growth rate (CAGR) of 14.8% between 2024 and 2034, and will quadruple in size to $2tn by 2034. The growth highlights the shift in consumer preferences toward living and working environments that are focused on health, well-being and sustainability.

Shubam Aggarwal, Chairman and Co-owner of The Luxe Developers commented, “La Mazzoni offers a compelling proposition: a state-of-the-art luxury residence incorporating a modern design and holistic lifestyle. We have seen a shift in demand from investors who are increasingly looking for a more balanced lifestyle, with wellness-integrated residences now becoming a prerequisite for many. La Mazzoni was designed in direct response to this. By aligning a luxury living experience with well-being, we offer our clients a value proposition beyond traditional real estate investments.”

Taking inspiration from Ras Al Khaimah, themes relating to nature, sand, sea, and the mountainous landscape will be recognisable from the property’s exterior. Features at La Mazzoni will include wellness facilities, health programs, and biophilic designs. An indoor play area for children, outdoor and adventure park will also be provided.

Siddharta Banerji, Managing Director and Co-owner added, “The Luxe Developers has always been at the forefront of anticipating market trends and addressing the evolving needs of niche investors seeking a work-life balance. La Mazzoni reflects this philosophy by integrating health-focused amenities, sustainability, and exclusivity into its design. It is a prime example of how we aim to deliver long-term value for residents and investors. As the luxury real estate market evolves, developments that combine wellness, sustainability, and exclusivity are becoming increasingly valuable. La Mazzoni exemplifies this trend, offering a unique opportunity for investors seeking premium real estate in one of the UAE’s most dynamic regions.”

Residents will have access to indoor and outdoor gym, yoga studios, walking and jogging tracks, paddle courts, rooftop infinity pools, spa equipped with saunas, hammams, and therapy rooms. In addition to outdoor exercise facilities the development will also include water oases.

La Mazzoni will incorporate co-working spaces within the open-air outdoor areas, designed to inspire creativity and productivity. Two dedicated lounges, Sky Lounge and Connoisseur’s Corner, will provide additional meeting and working areas within the two-tower development, a library to undertake work in a quiet environment, the developer explained.

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GE Vernova and Saudi Electricity Company (SEC) have successfully completed the first gas turbine outage; the works were planned and executed by GE Vernova’s Saudi engineers and specialists.

The project at SEC’s eighth power plant in Riyadh is said to highlight both companies’ commitment to fostering local talent and promoting localisation within Saudi Arabia’s energy sector, in alignment with Saudi Vision 2030.

This achievement comes just months after GE Vernova, in the presence of HRH Prince Abdulaziz bin Salman, Minister of Energy, celebrated the successful rollout of the first H-class gas turbine unit completed at the GE Saudi Advanced Turbines (GESAT) facility in Dammam, the firm said in a statement.

Engineer Abdulaziz Saeed Al-Shumaila, Head of Power Generation Operations in the Central Region, Saudi Electricity Company said, “We are committed to providing reliable and stable power supply for the Kingdom. GE Vernova’s Saudi-led outage at the eighth power plant marks a new era in the Saudi power sector, underscoring our commitment to driving innovation and developing local talent. Through our strategic collaboration with GE Vernova, we aim to empower more Saudi engineers and specialists to assume advanced leadership and technical roles within the Kingdom’s robust energy ecosystem. This collaboration will also contribute to local skills development initiatives, supporting the achievement of Vision 2030 goals.”

The maintenance, led by GE Vernova’s Gas Power One Field Services team in collaboration with SEC’s teams, was crucial for ensuring the reliability and efficiency of the power generation assets. It required meticulous planning and execution, demonstrating the culmination of a decade of comprehensive training, certifications, accreditations, practical experience, and professional development for Saudi talent, the firm said.

Male and female Saudi engineers and specialists at the eighth power plant prioritised rigorous safety protocols and successfully completed the project on schedule, supported by GE Vernova’s Live Outage platform. This digital tool enhances field execution through standardized procedures, streamlined tasks and safety best practices, it added.

Hisham Al Bahkali, President of GE Vernova, Saudi Arabia noted, “Our successful maintenance project at Riyadh’s eighth power plant showcases the Kingdom’s local talent in driving a more sustainable energy future, directly supporting Vision 2030. This achievement demonstrates Saudi engineers’ capabilities in managing complex energy projects. Our ongoing collaboration with SEC will further advance the Kingdom’s energy transformation and cultivate national competencies.”

He added, “This accomplishment caps a remarkable year for GE Vernova in Saudi Arabia, notably the rollout of the first H-Class gas turbine at the GESAT facility. This advanced turbine is set to power the Jafurah Cogeneration Independent Steam and Power Plant (ISPP), highlighting our commitment to supporting national strategies, including Vision 2030.”

The eighth power plant in Riyadh is a strategic facility that plays a crucial role in addressing the growing electricity demands of the capital. With a production capacity exceeding 1,700MW, it significantly enhances the stability of the electrical grid in Riyadh and its surrounding areas. The plant comprises several blocks, one of which is equipped with four of GE Vernova’s 7F gas turbines, collectively capable of producing close to 500MW.

GE Vernova’s power plant outage services team brings extensive experience in optimising power plant performance through expert maintenance, repairs, and upgrades. This Saudi-led initiative marks a pivotal step in enhancing plant efficiency and the long-term reliability of power units, the firm said.

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Ras Al Khaimah’s (RAK) real estate market is poised for substantial growth and price appreciation in the coming years, driven by a surge in demand and a housing shortage, according to Metropolitan Premium Properties (MPP), a full-service real estate agency and a subsidiary of the Metropolitan Group. Despite the launch of new projects on Marjan Island, the market is projected to experience a significant shortage of homes by the time the Wynn Gaming resort structure is completed in late 2025, said MPP.

According to MPP, new projects are expected this year but the current delivery timeline creates a gap. The number of new units expected to be delivered in RAK this year remains relatively low. In 2024, only 318 units were delivered in Marina Residence at Al Hamra and 89 in Marbela 2. In 2025, two projects in Mina are promising, but demand will likely exceed supply.

Maxim Novikov, Head of RAK branch, Metropolitan Premium Properties said, “Even with new projects underway on Marjan Island, RAK will face a shortage of available homes. Demand is expected to continue to outpace supply, making it an exciting market to watch in the near future. There has been strong demand, particularly for waterfront and beachfront properties in RAK, with many new developments selling out quickly. Several projects are selling out during their launch phase or even before they are officially announced. We are witnessing exceptionally strong demand, particularly for beachfront properties.”

The shortage of ready units has resulted in off-plan property prices increasing on average 15-20% in 2024, and this is expected to continue this year as well. The highest demand is for studios and one-bedroom units in waterfront projects near the Wynn Resort.

“Properties close to the Wynn Resort are seeing significant interest, especially smaller studio and one-bedroom units. At the same time, there is a noticeable demand for commercial, retail spaces, as well as villas and townhouses in prime waterfront locations. However, the supply of these types of properties remains limited. The real estate market in RAK is set for dynamic growth and entering an exciting phase. Investors and home-buyers alike should be prepared for rising prices and increased competition for the limited available properties,” added Novikov.

Several key factors are expected to drive demand for real estate in RAK over the next few years. The population of the emirate is projected to nearly double, reaching 650,000 residents by 2030. Additionally, the rapid progress of the Wynn Resort construction is fueling excitement and interest in the area.

Ras Al Khaimah’s Economic Zone (RAKEZ) is also attracting entrepreneurs from around the world, boosting demand for both residential and commercial properties. RAKEZ achieved record growth in 2024, welcoming 13,141 new companies, which represents a 66% increase in registrations compared to 2023. Also, the emirate’s approach to cryptocurrency trading and blockchain technology is another factor contributing to its appeal, said the statement from MPP.

While Marjan Island continues to garner considerable attention, other regions in Ras Al Khaimah are also poised for substantial growth, as per the Ministry of Planning and Public Works (MPP). Areas like Mina, Al Hamra, and RAK Central are anticipated to witness substantial development, presenting lucrative opportunities for real estate investors.

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Qatari Diar Real Estate Investment Company has launched waterfront townhouses at The Seef in Downtown Lusail, located in Lusail’s waterfront district. The luxury residences offer sea views and “exceptional lifestyle” for both investors and residents.

The Seef provides freehold ownership and residency making it a viable option for foreign investors, with mortgage financing options available through local banks, along with direct payment plans offering 0% interest from Qatari Diar—spanning up to six years for apartments and four years for townhouses.

The project is said to represent a blend of modern design and integrated services that meet the aspirations of investors seeking quality. The ready-to-move-in townhouses offer contemporary living, sea views of the Qetaifan Islands and the skyline of Lusail City. Lusail is known for its infrastructure and designs, a place that combines smart and sustainable living in urban areas offering a residential experience that blends luxury and innovation, said a statement.

Additionally, the project features a range of amenities, including sky bridge swimming pools, a fitness club, children’s playgrounds, squash courts, beach access, and peaceful walking paths.

The project’s location offers access to public transportation, shopping centres, healthcare facilities, and educational institutions in Lusail. It is also close to key attractions in Qatar and Lusail, such as Meryal Waterpark, Lusail Marina, and Place Vendôme Mall, all said to be minutes away from some of the most modern destinations in Qatar.

The Seef exemplifies Qatari Diar’s commitment to sustainability, incorporating energy-efficient infrastructure and green landscaping to meet sustainability standards. Architectural and engineering innovations, such as sky bridges with swimming pools connecting the towers, set The Seef apart from other residential developments, the developer noted.

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Developer MERED will support the inaugural Pininfarina Academy, an educational initiative by the Italian design firm, Pininfarina. The academy is crafted to nurture excellence in architectural design among emerging industry professionals by providing them with an exclusive opportunity to learn from experts and captivating design concepts at Pininfarina’s headquarters in Turin, Italy. MERED said that it is honored to sponsor four students at the Pininfarina Architecture Summer School.

The exclusive 3 x 3 x 3 Summer School launches this July with a course integrating advanced design techniques and Design for Manufacture and Assembly (DfMA) in contemporary architecture. The program is tailored to equip architects with the skills and expertise to redefine modern architecture and urban development. Participants will engage in hands-on workshops, keynote lectures by industry leaders, and practical applications of technology, including AI-driven design, parametric modelling, and immersive VR/AR tools.

By sponsoring four students, MERED reinforces its mission to redefine premium developments through visionary design and strategic partnerships by nurturing next-generation talent. The developer’s portfolio includes the 290m ICONIC Residences in Dubai Design by Pininfarina, an upcoming waterfront project in Abu Dhabi, and it has recently entered the Saudi market. The developer said it is dedicated to having an expert team that can push the boundaries of design in the real estate landscape.

The Pininfarina Architecture Summer School will be held from 14 to 25 July of this year, and instruction will be given in English. Applications are open to 12 aspiring architects, offering them learning experience, the chance to connect with like-minded peers, and the opportunity to collaborate with industry leaders.

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Meraas has launched the final phase of ‘The Acres’, its standalone villa community project. It comprises of three-, four- and five-bedroom villas in addition to ‘The Acres Estates’, featuring the Amber and Ivory Collections with five-, six, and seven-bedroom mansions. Each residence has a distinct architectural style upholding sustainability and refined living, the developer said.

The Acres villas feature blend of indoor and outdoor living spaces, centrally located kitchens with easy access to dining and lounge areas, master bedroom suites with private terraces and walk-in closets, bathrooms with views of the surrounding landscape, and courtyard designs maximising natural light and privacy. Private gardens that are directly connected to pedestrian pathways surrounded with greenery lead to the park and lagoon. The Amber Collection has contemporary aesthetic with clean lines and natural materials, while the Ivory Collection presents a traditional design with vertical stone-clad walls and minimalist white horizontal lines, the developer explained.

Khalid Al Malik, Chief Executive Officer, Dubai Holding Real Estate said, “The launch of the final phase of The Acres reflects our commitment to creating sustainable communities that promote well-being and a strong connection with nature, values that are increasingly important to today’s homeowners. With evolving consumer preferences prioritising eco-conscious living, wellness-focused design, and thoughtfully integrated spaces, The Acres is designed to meet these changing needs. Achieving LEED Gold pre-certification further underscores our dedication to environmental responsibility and global best practices, ensuring a future-focused lifestyle for our residents.”

The Acres is designed with sustainability in architecture and the community is committed to an 80% reduction in greenhouse gas emissions per capita compared to the national average and utilises 33% less water than the UAE average, with 100% of irrigation demand covered by treated wastewater. The project incorporates water-saving fixtures, efficient irrigation systems, and low-water plants.

Residents can benefit from an abundance of green spaces, with every villa said to be a three-minute walk from a park. The community is designed to feature social infrastructure including the Halo Loop Park, a nursery, school, clinic, mosques, clubhouses, retail area, and an Edible Garden. Lifestyle amenities include a trail network, outdoor gym, playgrounds, swimming pools, and sports areas.

The community was awarded with LEED Gold for Communities pre-certification,  a unique aspect of the LEED programme that showcases commitment to building environmentally responsible communities from the ground up and to international standards, with sustainability at all of its operation, said a statement from the developer.

This pre-certification, a first for Meraas, was awarded by Green Business Certification Inc. (GBCI), the administrative body responsible for verifying LEED and other green certification schemes, following a review of The Acres’ early design stage documentation. LEED, or Leadership in Energy and Environmental Design, is the world’s most widely recognised green building rating system.

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