|14 September, 2017

Lootah Real Estate Development appoints Asteco as master sales agent for The Waves property

Asteco will oversee the marketing and sales demand for the 175,905-sq. ft. modern, luxurious project.

Lootah Real Estate Development appoints Asteco as master sales agent for The Waves property
The partnership was announced on Tuesday 12th September at City Scape 2017

Lootah Real Estate Development, one of the region’s prominent luxury real estate developers, has appointed Asteco, a leading real estate consultancy and property management firm, as the exclusive sales agent for its residential property “The Waves”. Asteco will oversee the marketing and sales demand for the 175,905-sq. ft. modern, luxurious project.

Located at Jumeirah Village Circle, “The Waves” features Studios, one bedroom and one bedroom loft apartments ranging from areas of 485 Sq. ft. to 2,000 Sq.ft. The property is designed to cater to a specific residential lifestyle with beautifully proportioned units finished to the very highest of standards.

Comprising of two elegantly designed state-of-the-art buildings, the project is conveniently located in Al Barsha South and will offer 135 units in total. The towers are planned to maximize views and community interaction without compromising on personal space and privacy


Saleh Abdullah Lootah, Executive Director of Lootah Real Estate Development said: “We’ve launched “The Waves” based on an understanding of modern trends and the requirements of communities in Dubai. We are committed to the highest quality standards in every aspect of the project and are confident that the Asteco team will communicate and market this successfully. Through Asteco we aim to communicate the variety of flexible payment plans available for Investors and potential buyers and highlight the lucrative proposition for home buyers.”

 “This partnership agreement is part of our vision and strategy to assert our position as one of the key developers in the market. We believe that these strategic partnerships will play a vital role in expanding our market share through utilizing the right channels to reach our target audiences.” he added.

John Stevens, Managing Director, Asteco said: “Modern design and innovation are integral to The Waves market appeal. The cool urban feel, a host of amenities and the short distance to Jebel Ali Free Zone, Dubai Media City, Al Maktoum International Airport and the Expo 2020, will undoubtedly appeal to host of young professionals.  Investors can expect high occupancy rates for their property while end-users have the advantage of an affordable property in a central location.”

The project broke ground on September last year and has successfully completed close to one third of the project.  More information about Lootah Real Estate Development can be found at

About Lootah Real Estate Development:

Since the inception, Lootah Real Estate Development has acted as the pioneering real estate development arm of Lootah Holding. Through a culture of excellence and an unswerving commitment to provide the very highest standards of living, Lootah Real Estate Development’s employees have not only achieved, but exceeded, the most ambitious goals. Already over 1,000 units have been delivered to satisfied occupants, with many more planned for the future.

Lootah Real Estate Development successfully launched Ewan Residences in Dubai Investments Park and Shammal Terraces in Jumeirah Village Circle. Ewan Residences, comprises 85 buildings with up to 12 apartments in each block. The apartment blocks have been designed in a unique manner to make them suitable to own or rent. Ewan Residences is a secure, gated community with beautifully landscaped gardens, a state-of-the-art recreation centre, swimming pools, jogging tracks, and community facilities that include a shopping centre and play areas for children throughout the community.

Recently, Lootah Real Estate Development handed over its new freehold project to numerous proud buyers. The project comprises 259 studios and 1 bed loft apartments. This aesthetically appealing landmark offers a superlative swimming pool, state-of-the-art gymnasium and an invigorating sauna. Winner of the prestigious International Real Estate Award, 2016, Shamal Residences features exceptionally high quality construction, imaginative interior design and a charm and ambiance of its very own.

About Lootah Holding:

Lootah Holding is a family-owned diversified business house with rich heritage and highly ambitious young leaders adorned with new ideas and innovative minds. The several Lootah Holding initiatives and companies are embodiments of the vision of Chairman Saleh Saeed Lootah, the founder and an iconic second generation leader guided by enduring values and global thought leadership.

Lootah Holding leads ventures across key industries: from Construction to Real Estate; Energy to Financial Services; Logistics to FMCG, among several others. The entrepreneurial culture of Lootah Holding has been the catalyst that brought home-grown businesses to the global scene. Lootah Holding is a driving force for the national and regional economic growth, progress and innovation with global reach.

© Press Release 2017

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