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Dubai-based boutique developer Ellington Properties is set to launch its first gated community in the UAE, with plans to expand into the Middle East, Co-Founder and CEO Elie Naaman told Zawya Projects in an interview.
“We are launching our first gated community in the UAE soon, which will feature our signature design and amenities, as well as provide residents with a truly refined lifestyle,” he said without giving the location and cost of the project.
The developer has delivered 13 boutique residences and multi-family communities across Dubai’s prime locations, such as Mohammed Bin Rashid City, Downtown Dubai, Palm Jumeirah and Jumeriah Village Circle.
“We currently have seven projects under construction, including Ellington House, Kensington Waters and Berkeley Place,” Naaman stated.
The company has seen growing demand for its properties, with some projects, such as Ellington House in Dubai Hills Estate, selling out within days of launching.
“This demand is a clear indication that the Dubai market, and the UAE market more generally, is a great market for growth and expansion,” the CEO said.
Middle East focus
Given the recovery of the high-end real estate market, Ellington Properties is working to increase its land bank and develop more projects in Dubai.
When asked about the company’s regional expansion plan, the CEO said that Ellington Properties is continuing on its strong trajectory of growth and intends to expand its footprint in the Middle East, including Saudi Arabia.
Delivery timeline
Giving an update on the ocean-inspired residences of Ellington Beach House on the east crescent of Palm Jumeirah, Naaman said construction is ongoing, with nearly 40 percent of the work completed.
“We anticipate the handover to take place by the end of 2023,” he revealed.
On the other hand, the first luxury villa in the Ellington Collection, comprising beachfront villas on Palm Jumeriah, will be handed over in early 2023, with the second due for delivery by late 2023.
Construction on the other villas will begin early next year, Naaman disclosed.
Managing costs
On the issue of surging commodity prices due to the Russia-Ukraine war, he said the developer had managed the costs through operational efficiencies despite many industries worldwide experiencing the effects of inflation caused by numerous factors.
“We are, however, well-placed to manage these costs through ensuring efficiencies in our operations and optimising our resources while continuing to secure competitive deals with our suppliers.”
Although the COVID pandemic impacted some of its projects, Naaman said they recovered rapidly and construction on its projects is well underway.
Weighing 3D printing
While a few regional developers are considering adopting 3D-printed construction techniques, Ellington Properties is also weighing its benefits.
“We are always exploring the latest technologies available to help us develop the highest quality projects. We are not using 3D-printed technology at the moment, but we are in the process of testing and studying its uses.
"We may utilise it in the future should it suit our needs,” the CEO said.
(Writing by D Madhura; Editing by Anoop Menon)
