The ambitious multi-country project is estimated to have a land value alone of $6 billion.
ARA Real Estate Development and DECA Properties, both based in Dubai, are teaming up with a land-owning company to initiate a series of extensive residential projects across Dubai, Abu Dhabi, the North Emirates, and Europe, with an estimated value of tens of billions of dollars.
The land value alone for this ambitious multi-country project is estimated at $6 billion (AED22 billion).
The project, named Arabian Hills Estate, will be developed over 14 phases, with the collaborators announcing the first phase in Abu Dhabi, encompassing a massive 244 million sq ft development.
Arabian Hills Estate LLC holds the land ownership for this collaboration, while ARA will exclusively handle development and management, and DECA Properties will oversee sales and marketing.
Aamad Jalil, Senior Executive Officer at DECA Properties, stated that the investment for these projects is significant, reflecting their scale and ambition, although he did not disclose specific figures.
He also mentioned that the project will include various types and segments of housing developments.
Jalil added that DECA’s involvement is currently finalized only for the Abu Dhabi project but expressed optimism about collaborating with ARA on future projects.
From ultra luxury to affordable
Senior executives, associated with the project, have stated that segment classification will vary based on the property’s locations.
“In Abu Dhabi, the focus will lean towards luxury offerings. For the Northern Emirates, the emphasis will be on affordability to cater to a broader demographic, while European projects will be tailored towards ultra-luxury experiences,” they noted.
These executives have mentioned that although ARA has the capability to independently undertake these projects, it may also consider partnerships with reputable institutions interested in investing or financing such large-scale ventures.
ARA, the real estate arm of Core International Holding PJSC, is renowned for its ability to leverage extensive resources and expertise in delivering innovative real estate developments.
UAE’s Arabian Hills to cater to diverse needs and preferences
The Arabian Hills Estate project has already generated significant excitement in the market, with top-tier executives in real estate consultancies anticipating that the ambitious collaborative development will establish new benchmarks for luxury and sustainable living in the UAE.
Its projects in the UAE are set to offer a range of plot options, including villa plots, mansion plots, mega mansion plots, and estate plots, catering to a wide array of needs and preferences.
The development also encompasses several luxurious amenities such as swimmable lagoons, man-made beaches, verdant parks, and extensive equestrian facilities.
Sustainable living features will include solar lighting, water conservation systems, and natural landscaping, all aimed at enhancing the community’s ecological footprint.
The project to offer potentially high investment returns
Jalil emphasized that Arabian Hills Estate presents a compelling investment opportunity with competitive pricing starting at AED 110 per square foot and an attractive 5-year payment plan. He highlighted the potential for significant capital appreciation.
The strategic locations of its projects in Dubai and Abu Dhabi, two real estate hotspots in the UAE, ensure quick access to city centers while offering a serene escape from urban life, Jalil noted.
The Abu Dhabi project, launched on Monday, April 22, is a master-planned, gated community emphasizing innovation and sustainable living.
Open, freehold ownership is available, making it appealing to a diverse clientele seeking a modern lifestyle. It is designed to enhance the quality of life for both primary residents and those on short staycations, company executives added.
Jalil expressed gratitude for the collaboration with ARA in bringing this visionary project to fruition. He reiterated the team’s dedication to delivering exceptional results, leveraging market insights and decades of sales experience to showcase the unique value proposition of Arabian Hills Estate to discerning buyers.
