TOP-10 Most Anticipated Real Estate Projects in The UAE in 2023 – 2024

1. The Largest Apartment in Dubai

The development company, Omniyat Properties, is currently working on a new residential project that will break all records in Dubai’s real estate market. The flagship project on Palm Jumeirah called Orla, will house the exclusive penthouse with a living area of 50,000 sqft. The founder of Omniyat Properties, Mahdi Amjad, calls the giant penthouse a ‘sky palace’. The biggest apartment in Dubai will be distinguished by a private 115 ft infinity pool, its own lobby, a private elevator and an arrival area.

The price for the exclusive property remains top secret, but it is expected that the cost of the unit will be at the very top end of the price range. According to the statement by the developer, the value will only be revealed after it has met with interested investors.

The luxurious complex of Orla, which is a USD 1.3B project, will be managed as part of the Dorchester Collection, and will be located on a 312,153 sqft beachfront plot. Each of the residences in the development will have a unique design and layout, as well as provide amazing 270-degree views of the Arabian Gulf and the Dubai skyline. Omniyat Properties has partnered with the world-famous Foster + Partners, founded by legendary architect Norman Foster, on the design of the Orla complex.

We recommend reading this article about the Dubai property market trends in 2022 in order to better understand which real estate in the emirate is in high demand.

2. First Live-Work-Play Destination in DIFC

Dubai International Financial Centre (DIFC) launches the DIFC Living and Innovation Two development, which will comprise over 170 units. It will be the first community with independent yet connected residential and commercial projects. The mixed-use space will include DIFC Living residential units, retail and dining, co-working and office spaces. The development offers urban living with the combination of a high-quality environment. The new Innovation Hub will make DIFC the one of the world’s biggest ecosystems dedicated to fintech and innovation.

Phase three of the DIFC Innovation Hub will include 184,000 sqft of co-working spaces and offices, while a further gross floor area for retail use will constitute 107,000 sqft. There also will be modern conference facilities within the development. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE and President of DIFC, announced the original expansion of the Innovation Hub in May 2021. The size will be increased from 80,000 sqft to 315,000 sqft and the anticipated date of completion is set to be the end of next year.

At the moment the DIFC, which is the leading global financial centre in the Middle East, Africa and South Asia (MEASA), is home to over 600 growth-stage tech firms, which include digital labs, innovation companies, educational institutions and venture capital firms.

3. Beachfront Residential Community by Aldar in Ras Al Khaimah

The development company of Aldar Properties has acquired a prime beachfront plot with an area of 430,556 sqft on Al Marjan Island. This will be Aldar’s first residential community in Ras Al Khaimah, with a mix of more than 2,000 branded and premium residences that will be built here. Units will feature access to a beach club and retail spaces, as well as 1.2 mi of private beach.

The mixed-use neighbourhood will occupy the plot acquired on Marjan and existing land purchased as part of the DoubleTree by Hilton Resort & Spa Marjan Island earlier this year. The anticipated launch date of the project is set to be in 2023.

Al Marjan Island is a world-class leisure and lifestyle destination, which attracts interest from leading regional and international investors. As stated by CEO of Marjan, Abdulla Al Abdouli, Aldar’s first residential community in Ras Al Khaimah is a reflection of its trust in Al Marjan Island as a destination. The emirate has strong market fundamentals and its dynamics represent an attractive market for the developer.

4. Beachfront Residential Community by Aldar in Ras Al Khaimah

The highest residential tower in the world called Burj Binghatti will be built in Dubai. The development company of Binghatti, in cooperation with the luxury high jewellery company Jacob & Co, will deliver the record-breaking building.

The final height for the skyscraper, which will have a strategic location in Business Bay, has not been released yet. The current record for highest residential-only building is held by New York’s Central Park Tower with a height of 1,548 ft.

The complex of Burj Binghatti Jacob & Co Residences will include over 100 levels and will offer residences with two and three bedrooms, as well as penthouses. Residents will enjoy in-house concierge services including bodyguards, private chefs and chauffeurs. There is also a private member’s club and an infinity pool overlooking the Dubai skyline in the residential building.

The inspiration for the building’s design was taken from the complex horological movements that beat in the Jacob & Co timepieces and will be integrated into the key elements of the complex. The diamond-shaped spires are situated at the peak of the skyscraper and resemble an actual crown inspired by the design of Jacob & Co’s finely cut gems. The estimated date of tower’s completion is 2024.