Dubai’s MERED and Mirage have partnered to develop a new residential landmark in the city. The partnership will see the development of what aims to be an ultra-high-end project set to come to completion in three years.
The project will feature 311 apartments and offer residents amenities that include spas restaurants, kids club, BBQ area, yoga areas, retail outlets, and an infinity pool.
Mirage’s portfolio consists of Dubai properties such as Address Grand Creek Hotel and Bluewaters Island.
Ramil Guliev, Chief Executive Officer at MERED said: “Mirage’s extensive experience with both premium residences and 5-star hotel hospitality projects is the driving factor of why they are the perfect fit for this venture. It demands a fresh perspective and vision.
“The combination of Mirage’s deep-rooted local expertise and MERED’s international proficiency promises a residential project that stands out both in terms of high-end finishing and a carefully curated range of world-class amenities focused on the needs of its residents.”
Dubai’s luxury real estate market
In the first half of 2023, Dubai’s luxury real estate market firmly established itself as the leader in the global industry, achieving impressive sales of nearly $850 million (AED3.1 billion).
By the end of July, approximately 335 high-end properties had changed hands. Projections for the second half of the year indicate an anticipated growth rate of prime residential property prices ranging from 6 percent to 7.9 percent, making it the fastest-growing market globally.
