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Dubai continues to cement its position as a global city with one of the world’s most attractive investment returns, Veer Doshi, Managing Director & CEO, Vincitore Realty, told Zawya Projects.
“The off-plan segment is not just resilient - it is becoming the preferred entry point for both first-time buyers and global investors seeking exposure to Dubai’s long-term growth story,” he stated.
The developer has awarded Luxridge Building Contracting a 2 billion UAE dirhams ($544.51 million) contract to develop two projects each in Arjan and Dubai Science Park.
“We are committed to delivering the project in strategic phases starting 2026, with an estimated 1 million square feet of completed development delivered every year,” Doshi said.
Although the immediate focus remains on Dubai, the developer is exploring opportunities in high-growth markets across the wider UAE and the GCC, which includes Ajman, Umm Al Quwain, and Oman.
Interview excerpts:
What projects will Luxridge Building Construction develop as part of the AED 2 billion contract?
As part of the AED 2 billion strategic alliance, Luxridge Building Contracting has been entrusted with the full-scale construction and execution of Vincitore’s upcoming developments - Vincitore Dolce Vita (Arjan), Vincitore Volare (Arjan), Vincitore Aqua Dimore (Dubai Science Park ), and Vincitore Aqua Flora ( Dubai Science Park).
These designer projects include a series of boutique residences, lifestyle-driven retail spaces, and experiential environments designed to reflect Vincitore’s signature blend of European architecture, innovation, and wellness.
Have all the projects that Luxridge will build been launched?
Yes, all projects under the Luxridge portfolio have been successfully launched and are completely sold out. Construction is in full swing across all developments, progressing at a robust pace.
Why did you choose to go with a single contractor for your projects?
Luxridge Building Contracting, as a strategic partner, shares our long-term vision for timeless construction and legacy-driven development. By aligning with Luxridge, we ensure a seamless synergy between design, vision, and execution - powered by their proven expertise, advanced technology, and a track record of delivering high-end projects across the GCC and MENA region. This partnership enables us to exercise complete control over quality, safety, and timelines, without compromise.
Our decision to entrust the AED 2 billion contract to Luxridge is rooted in our core philosophy to uphold precision, consistency, and uncompromised quality in every square foot we deliver.
More than a business decision, this is a strategic alliance built on trust, transparency, and a shared mission to redefine boutique luxury in the UAE and set new benchmarks for the region.
Moreover, this integrated approach eliminates dependency on external contractors, enabling us to fast-track development while upholding the signature craftsmanship and attention to detail that define the Vincitore brand.
an you share the number of apartments, villas, and townhouses in the project planned?
Across our portfolio of seven residential projects, Vincitore has delivered a total of 3,367 designer apartments. We are now expanding our vision with our first-ever commercial development — a concept currently in the design phase, set to redefine commercial spaces in Dubai.
In addition, we have a curated collection of 100 premium villa plots that are part of our upcoming development pipeline.
How do you intend to fund these projects?
The total investment in these projects is being fully financed through internal accruals and dedicated escrow accounts, in line with RERA guidelines.
When did you acquire the land for projects? Are you now seeing an increase in land prices in Arjan?
We began acquiring land in Arjan between 2013 and 2021, strategically securing prime plots early in the area’s development cycle. Since then, we’ve seen land prices appreciate by at least 5 times, validating our long-term vision for Arjan as a thriving residential and investment destination.
What is the tendering timeline (issue and awarding of the tender) for your projects?
The enabling package will be tendered and awarded within 30 days, while the main contract will follow a 60-day tendering and finalisation cycle. We follow a fast-track execution strategy with strict governance protocols to ensure timely mobilisation and efficient construction workflows.
How much landbank do you own in the UAE?
Vincitore currently holds a landbank exceeding 4 million square feet across Dubai and the UAE. We are actively expanding our footprint in strategic emerging zones across the country, including Ajman, Umm Al Quwain, and Oman, with a focus on unlocking new development potential in line with our wellness and design-driven ethos.
Are there any plans to enter other emirates and markets in the Middle East?
Our primary focus remains on delivering unparalleled quality and innovation within Dubai’s booming real estate market, where we continue to see tremendous opportunity and growth potential. That said, as a forward-thinking designer developer, we are also closely evaluating high-potential markets across the wider UAE and GCC region, including Ajman, Umm Al Quwain, and Oman.
Our strategy is to evaluate new markets carefully and enter when the timing aligns with our commitment to excellence and long-term value creation for our clients and stakeholders.
What is your outlook on the off-plan real estate market in the UAE, particularly Dubai, over the next two years?
The off-plan real estate market in Dubai is poised for continued momentum over the next two years, underpinned by strong fundamentals and progressive government policies like the first-time buyer programme. As we observe, the demand is increasingly end-user driven, supported by rising population forecasts, investor-friendly regulations, and a maturing buyer base seeking quality, value, and long-term returns.
In an environment where capital preservation and wealth creation are top priorities, off-plan properties offer a strategic advantage, enabling investors to enter early at competitive pricing, benefit from flexible payment structures, and capitalise on capital appreciation through project cycles. This is particularly relevant as Dubai cements its position as a global city with one of the highest return on investment (ROI) potentials in the world.
The off-plan segment is not just resilient - it is becoming the preferred entry point for both first-time buyers and global investors seeking exposure to Dubai’s long-term growth story.
(Reporting by P Deol; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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