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Dubai-based developer TownX will continue to roll out high-quality projects in the emirate, given the healthy demand in the market, Executive Director Haider Abduljabbar told Zawya Projects.
The 662-million UAE dirhams ($180.24 million) Ashley Hills residential complex in Arjan has crossed the 20 percent completion mark, with handover slated in the first quarter of 2027.
However, Abduljabbar admits that tender prices have shot up due to the property boom in the country.
“Contractors are extremely busy due to so many projects in progress. This has driven up the cost of construction materials and labour,” he said.
Interview excerpts:
What market factors compelled you to launch Ashley Hills in Arjan?
The decision to launch Ashley Hills was primarily driven by the growing demand for high-quality homes in Dubai. As a location, Arjan has become a sought-after investment destination in recent years. It has evolved from a peripheral area to a rapidly developing residential hub, with strong infrastructure, increasing demand for family-friendly amenities, and a vibrant community atmosphere.
We see immense potential in Arjan, not just for today, but in the future, especially with its proximity to key roads like Sheikh Mohammed Bin Zayed Road and Al Khail Road. The growing interest in the area confirms that now is the perfect time to introduce a project like Ashley Hills, which offers a mix of modern, spacious homes in a high-demand neighbourhood.
How is work progressing on the project?
Ashley Hills is already more than 20 percent into its construction timeline, which is quite impressive considering we have only just launched the project. The entire tendering process, from issuance to awarding the main contractor, took about six months. This timeline allows us to maintain the level of attention to detail we are known for, while ensuring we are also keeping the project on track for an on-time delivery.
When do you intend to deliver/hand over the project?
The estimated completion is scheduled for the first quarter of 2027. However, we have built a reputation for delivering projects ahead of schedule, and we believe we can meet this deadline, just as we did with Luma 21 and Luma 22. We are also on track to complete Luma Park Views on schedule.
Meeting the handover deadline is always a priority for us because we understand how critical it is for our buyers to move into their new homes without unnecessary delays. It’s part of our commitment to quality and customer satisfaction.
When did you acquire the land for the project? Are you now seeing an increase in land prices in Arjan?
We acquired the land for Ashley Hills in 2024. Since then, we have seen a noticeable 20 percent increase in land prices in the Arjan area. This price increase is a reflection of the growing demand and the area’s rapid development. It’s great to see the area gaining such momentum, as it confirms that we made a smart investment decision and that our project will likely see an increase in value as Arjan continues to develop.
How do you intend to fund the project?
Ashley Hills is being funded through resources arranged internally, in line with our broader philosophy of maintaining independence and agility in project execution.
This approach allows us to retain strategic control, streamline decision-making, and remain focused on delivering the project to our standards - without the constraints that can come with external financial commitments. It reflects our commitment to long-term value and operational flexibility.
What is your project’s unique selling proposition (USP) in terms of design?
We have an in-house architects’ team for the design of Ashley Hills. Their expertise and innovative approach to architecture were key reasons we chose them. The USP of Ashley Hills lies in its thoughtful design and commitment to creating an elevated lifestyle for our residents. We’re integrating spacious gardens spanning a significant area, along with two signature beach-style swimming pools and two fully equipped signature fitness centers. These amenities are designed to offer residents a sense of luxury, community, and well-being.
What sustainable elements will be incorporated into the project?
Sustainability is a cornerstone of our development philosophy. The project will feature several eco-friendly elements, including electric vehicle (EV) charging stations for residents who own electric cars, promoting cleaner transportation. In terms of materials, we are committed to using energy-efficient and sustainable materials throughout the construction process, although we are still finalizing the specifics on some of the newer "green" materials we’ll be using. Sustainability is not just about the materials we choose, but also about creating spaces that encourage a sustainable lifestyle for our residents.
Have you seen tender prices rise due to the UAE’s booming real estate sector?
Yes, there has been a rise in tender prices, largely due to the UAE’s booming real estate sector. With so many projects in progress, contractors are extremely busy, which has driven up the cost of construction materials and labour. When compared to just two years ago, we are seeing higher construction costs, especially for prime materials and specialised subcontractors. This has certainly impacted our budgeting, but we factor this into our financial planning to ensure that we maintain the quality we’re known for without compromising on the end product.
What are the biggest challenges you foresee in the coming years?
One of the biggest challenges we face is securing prime plots of land at reasonable prices. As demand grows, land prices continue to rise, which makes finding affordable plots in prime locations increasingly difficult. Construction material costs are also a challenge, as they are rising due to global supply chain constraints. To overcome these challenges, we are constantly scouting for new opportunities, even if it means paying a premium for quality land or materials. We also work closely with a strong network of reliable subcontractors and suppliers to ensure that quality is never compromised, even as costs rise.
How much land do you own in Dubai/UAE?
We have a strategic and focused approach to land acquisition. Rather than holding extensive reserves, we prioritise securing well-located plots that align with our development pipeline and project timelines.
We are continuously working to expand our land portfolio in a selective and disciplined manner, targeting high-potential areas that support our growth strategy. This approach enables us to move swiftly from acquisition to development, maintaining strong market momentum and staying responsive to demand.
How many projects do you plan to launch in 2025 and 2026? Can you share the value of the proposed investments?
In 2025, we announced Ashley Hills, marking a strong start to the year. Looking ahead to 2026, we are planning to launch several new projects that are currently in the pipeline. While we are still finalising the specifics, these developments reflect our continued growth trajectory and strategic expansion. We are enthusiastic about what lies ahead, as these upcoming projects represent significant investment opportunities and value creation for us.
Are there any plans to expand into other emirates or markets in the Middle East?
At the moment, we don’t have any immediate plans to expand into other emirates or Middle Eastern markets. Our focus remains on continuing to develop high-quality projects in Dubai. However, we are always exploring opportunities for growth, and we may consider expanding into other regions when the time is right.
What is your outlook on the real estate market in the UAE, particularly Dubai’s off-plan market, for 2025 and 2026?
The real estate market in Dubai is very healthy, and I believe this will continue into 2025 and 2026. There is strong demand for all upcoming supply, but locations and quality will remain key drivers of demand, regardless of the broader market conditions. We also see room for price increases, as Dubai’s property prices are still relatively lower compared to other global cities, making it an attractive investment destination. Government initiatives, such as the Dubai Real Estate Sector Strategy 2033, provide further reassurance that Dubai’s real estate market will remain a safe, transparent, and sustainable investment landscape.
(Reporting by P Deol; Editing by Anoop Menon)
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