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Dubai: Reef to invest Dh14 billion in property market, add 5,000 units

All apartments will have temperature-controlled sunken balconies that allow residents to enjoy year-round outdoor living

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by

Waheed Abbas

Published: Thu 3 Oct 2024, 10:42 PM

Reef Luxury Developments will invest Dh14 billion across 30 developments in Dubai, bringing 5,000 residential units to the market by the end of 2025.

The latest entrant into the city's property market said it has acquired a land bank across various places and will launch projects worth Dh5 billion over the next three months. It will launch its first Dubai residential project in the coming days, and it will offer competitive prices.

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Dubai has seen a lot of foreign and local new players entering into property market to cash in on unprecedented demand.

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All apartments in Reef properties will have temperature-controlled sunken balconies, a developer-patented innovation that allows residents to enjoy year-round outdoor living.

"We have introduced the first-of-its-kind' Sunken Balcony' technology transitioning the real estate industry globally… Our commitment is to create exceptional properties that not only cater to the needs of today's residents but also anticipate the evolving demands of the future. We are excited to lead the way in shaping vibrant communities that will enrich the quality of life for all," said Samer Ambar, CEO, Reef Luxury Developments.

To enhance its capabilities, the developer has invested over Dh40 million in research and development to lead the real estate industry for innovation and provide more value to its customers focusing on technology and design.

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Waheed Abbas

Published: Thu 3 Oct 2024, 10:42 PM

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