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Amirah Developments will launch at least five new projects in 2025 and 2026 across Dubai and Ras Al Khaimah (RAK) emirates as demand surges for the luxury and mid-luxury segments, Founder Yousuf Jafrani told Zawya Projects.
These projects include a branded residence, a wellness-focused community, and a mid-luxury development, with a total estimated value of 1.8 billion UAE dirhams ($490.13 million), he said in an exclusive interview.
The developer has commenced work on AED 100 million Bonds Avenue Residences on the Dubai Islands, which is scheduled for handover in the first quarter of 2027, Jafrani said.
Interview excerpts:
What market factors compelled you to launch Bonds Avenue Residences on Dubai Islands?
Dubai Islands represents the future of urban coastal living - a master-planned, highly connected destination that aligns perfectly with our long-term vision of building lifestyle-centric communities. The strong demand for waterfront properties, rising interest from international investors, and the strategic initiatives led by Dubai’s government to promote luxury and sustainable living made it an ideal location for our flagship project. Bonds Avenue Residences is our response to the market’s call for high-end living that combines connectivity, leisure, and contemporary design.
What is the construction cost of the project?
The total construction cost for Bonds Avenue Residences is approximately AED 100 million. This reflects our commitment to delivering premium quality development using top-tier materials, modern engineering practices, and a sustainable design approach.
When did you acquire the land for the project?
We acquired the land in the fourth quarter of 2023 as part of a strategic investment in prime waterfront real estate. While the acquisition cost remains confidential due to legal and commercial considerations, it was competitively negotiated in line with prevailing land valuations on Dubai Islands.
What was your tendering process for selecting Shine Square Building Contracting?
We followed a competitive and transparent tendering process. Multiple reputable contracting firms were invited to submit proposals. Shine Square Building Contracting stood out for its strong technical capabilities, proven track record in high-rise residential construction, and alignment with our quality benchmarks and project timelines. Their commitment to innovation and sustainability further reinforced our decision.
What is your project’s USP in terms of design?
The project’s USP lies in its low-density design, skyline views, and integration of resort-style amenities within a residential setting. Every aspect - from the spatial layouts to the façade and materials - has been thoughtfully curated to enhance natural light, ventilation, and functionality while offering unmatched aesthetics.
What was the biggest challenge in terms of the design of the project?
The biggest challenge was achieving a perfect balance between aesthetics, function, and sustainability - especially within coastal parameters. The design had to accommodate high wind loads and saline conditions while maintaining unobstructed views and large open spaces. We worked closely with our consultants to innovate around these challenges and deliver a design that is both resilient and refined.
When do you intend to hand over the project?
We are targeting handover in the first quarter of 2027. We have built in a buffer within the construction schedule to account for external variables, ensuring timely delivery without compromising on quality.
What will be the sustainable elements of the project?
Sustainability is a cornerstone of our development philosophy. Bonds Avenue will feature solar-powered common areas, high-performance insulation systems, LED lighting, low-flow water fixtures, and green roofs. We are also exploring the use of recycled steel, eco-friendly paints, and locally sourced construction materials to reduce our carbon footprint and enhance energy efficiency.
How have you funded the project?
The project is entirely self-funded, supplemented by revenues from off-plan sales. This model allows us to maintain complete control over the development, reduce financial exposure, and build trust with our customers by ensuring financial transparency and construction continuity.
How much landbank do you own in the UAE?
We currently hold a diversified land bank across Dubai and Ras Al Khaimah with a combined development potential exceeding 1.5 million square feet. We are actively expanding our footprint, especially in emerging zones such as Dubai Island, Dubai South, Meydan, Jumeirah Village Circle, and select locations within Dubai and Ras Al Khaimah.
Are there plans to expand into other emirates and markets in the Middle East?
We are actively exploring opportunities in Ras Al Khaimah in alignment with the UAE’s broader development goals. Should promising opportunities arise, we will also consider other GCC markets - particularly Saudi Arabia and Qatar - for potential strategic partnerships and high-value developments in the coming years.
What is your outlook on the real estate market in the UAE, particularly Dubai, over the next two years?
We remain strongly optimistic. Dubai has proven its resilience and maturity as a global investment destination. With continued population growth, infrastructure development, and a transparent regulatory environment, we expect sustained demand in the luxury and mid-luxury segments. Additionally, lifestyle-led developments with strong community features will continue to gain momentum as the market evolves post-Expo and toward Vision 2030.
(Reporting by P Deol; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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