< PreviousPROPERTY GIANTS 10 AB Property Giants — January 2024 Led by founder, owner, and chairman of the board Alex Zagrebelny, R.evolution Group stands at the forefront of the luxury real estate sector and is leading the sector into new realms of innovation. With operations spanning Latvia, Spain, Germany, and, more recently, the UAE, the rm’s creative acumen, leadership, and strategic foresight have propelled it to the forefront of the high-end real estate market. Zagrebelny’s ground-breaking approach encapsulates all facets of the R.evolution Group, merging meticu- lous attention to detail with a vision that integrates the latest advancements in architecture, construction, sales, market- ing, and company philosophy. With over 24 years of experience in real estate devel- opment, including two years in the UAE, Zagrebelny brings a wealth of expertise to the table. His leadership style is characterised by a commitment to pushing bound- aries and exploring new possibilities. He holds positions on several boards, including as the board member of LEGEND. Jurmala; Lofts&Rosegold; Bulduru Investment; TAL Residence; Philosophers Residence; Villa Milia; Hoft; R.evolution Nami; R.Evolution City GmbH; and R.Evolu- tion Strategy. His pioneering spirit and strategic vision have been integral to the R.evolution Group’s expansion and success. With an equally impressive academic back- ground, Zagrebelny earned a Master’s degree in Finance & Credit from Riga Aviation University, Latvia, contrib- uting to the group’s sustained growth and excellence in the luxury real estate market. Widely recognised for shaping architectural master- pieces for over 20 years across Europe covering residential, hotel, o ce, and infrastructural projects, R.evolution will enrich Dubai’s thriving real estate landscape with its uncon- ventional and innovative living environments that integrate nature into well-de ned architectural spaces. As a company that invests in intellectual developments, it has pioneered an inimitable approach to creating assets that impact human senses and promote a balanced emotional state of mind as well as a productive spirit among residents. This is re ected across its portfolio, which is built on the foundations of R.EVOLUTION GROUP Zagrebelny's leadership style is characterised by a commitment to pushing boundaries and exploring new possibilities UAEarabianbusiness.com 11 PROPERTY GIANTS ancient science and wisdom, world-class architecture, and modern technology, catering to the growing need of today’s consumers for wellbeing and a balanced lifestyle. With a legacy spanning over two decades, R.evolution is poised to make an indelible mark on Dubai’s skyline with their debut project, Eywa in Business Bay along the Dubai Water Canal. Located in close proximity to the city’s nest restaurants, shopping centres, Dubai airport, and other attractions, Eywa enjoys a distinctive competitive advantage. This strategic positioning ensures residents easy access to a vibrant lifestyle and seamless connectiv- ity to key amenities, enhancing the overall appeal of the location. This collection of exclusive waterfront residences spans 22,000 m2 and the project comprises 19-storey tower hosting 48 residences with two, three, four, and ve bedrooms. The smallest two-bedroom apartment spans 200 m2, excluding the balcony. Each apartment features its private jacuzzi, while the two penthouse levels boast individual swimming pools. Prioritising a new standard of sustainable and health-centric living, the project aims for LEED Platinum, Well Platinum, and WiredScore Platinum certi cations. The lead concept and design architect are Open AD, while Brewer Smith Brewer Group (BSBG) takes on the role of executive architect and lead design consultants. Christie’s Interna- tional Real Estate Dubai, part of a network spanning nearly 50 countries across 6 continents, will be the exclusive real estate broker for R.evolution’s rst project in the UAE Chris- tie’s International Real Estate Dubai are the exclusive real estate broker for Eywa. R.evolution Group merges meticulous attention to detail with a vision that integrates the latest advancements in architecturePROPERTY GIANTS 12 AB Property Giants — January 2024 Eywa epitomises a unique lifestyle rooted in the compelling concept of ‘Wild luxury’arabianbusiness.com 13 PROPERTY GIANTS Named after and inspired by the ‘tree of life’ in James Cameron’s movie Avatar Inspired by the sacred Tree of Life and the Southern Sky Column, the renowned quartz sandstone mountain located in Zhangjiajie National Forest Park in Hunan, China, Eywa’s architecture is a testament to the deep connection with nature it seeks to foster. Eywa epitomises a unique lifestyle rooted in the compelling concept of ‘Wild luxury,’ helping to empower residents to forge an authentic connection with themselves and their surroundings. Eywa’s architecture showcases open round columns and intertwining branch and trunk elements, echoing the symbolism of the Banyan tree. Using the knowledge and experiences of Vastu Shastra, a holistic concept that unifies science, art, astronomy, and astrology to enhance wealth, health, prosperity, and happiness, 1,450 specially selected crystals, gemstones and geodes will be installed into the structure of the building, which will make it a ‘well-being generator’. This structure is the first of its kind, promising to bring positive energy to each floor while purifying and eliminating any negative energy. Resi- dents will benefit from well-being effects, which include reducing conflict, boosting concentration, and promoting the development of mental and physical good health, especially in children. Scheduled for completion by 2026, Eywa will serve as a gateway to extraordinary lifestyle experiences in the heart of Dubai. R.evolution’s nature-inspired development in Dubai will be designed as an integral part of Dubai’s evolving built envi- ronment, setting a new benchmark for luxury and sustain- able living in the UAE. It will represent a revolutionary gener- ation of 21stcentury buildings that will bring alive the unique concept of “Wild Luxury” in the heart of the metropolis. Its architectural aesthetics will be governed by the highest level of energy e ciency, powerful interaction with nature, and unprecedented material quality, all rooted in ancient human knowledge. Rather than simply being a sound investment, the property will also be serving as a manifestation of the residents’ life vision. Positioned to make a lasting impact in Dubai, the company is pioneering a paradigm shift in residential living, emphasising innovation and sustainability at its core. Furthermore, the company’s steadfast commitment to intel- lectual development extends beyond construction, fostering a community that encourages continuous learning and growth. This holistic approach aims to create living environ- ments that not only meet physical needs but also promote a sense of connection, well-being, as well as lasting ful lment among its residents. R.evolution’s nature-inspired development in Dubai will be designed as an integral part of Dubai’s evolving built environmentPROPERTY GIANTS 14 AB Property Giants — January 2024 RAK Properties is a leading property developer in Ras Al Khaimah, UAE. Founded in 2005 under the visionary leadership of Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, the company is dedicated to creating exceptional and sustainable communities that enhance lives and contribute to Ras Al Khaimah's development goals as outlined in RAK Vision 2030. One of RAK Properties’ most successful projects to date is Cape Hayat, a luxury residential development located on Hayat Island in Mina Al Arab, Ras Al Khaimah. When phase one of Cape Hayat was launched, it sold out on the very rst day, demonstrating strong demand for properties in this upscale waterfront location that o ers direct beach access and panoramic views of the Arabian Gulf and Hajar Mountains. Cape Hayat comprises four residential towers ranging from nine to 20 stories in height and metic- ulously designed units providing spacious living spaces and breathtaking coastal vistas. In addition to its residential o erings, Cape Hayat and the broader Mina Al Arab destination provide residents and visitors access to renowned ve-star hospitality brands. This includes the InterContinental Mina Al Arab Resort, Anantara Mina Al Arab Ras Al Khaimah Resort, as well as the newly announced Nikki Beach Resort & Spa. The proximity to these amenities was a big draw for buyers of Cape Hayat. RAK Properties has expanded its hospitality portfolio further through strategic partnerships with leading inter- national operators. In December 2023, the company announced plans to open Staybridge Suites Mina Al Arab in partnership with IHG Hotels & Resorts. The 156-room extended stay hotel will be located on Hayat Island and cater to both business and leisure travellers seeking apart- ment-style accommodations. When open, it will bolster Mina Al Arab's position as a top destination for both short and long-term visitors to Ras Al Khaimah. Financially, RAK Properties has seen tremendous growth over the past year on the back of strong sales and multiple new project launches. According to its third quarter 2023 results, revenue increased 137 percent year-on-year to AED 685.56 million while net pro t more than doubled to AED 105.17 million, up 282 percent from the same period last year. This performance exceeded targets and was driven by robust demand across the company's portfolio of recently launched projects in both Ras Al Khaimah and Abu Dhabi. Going forward, RAK Properties aims to focus investments on opportunities that leverage current operations and address macro trends in areas like changing demographics, technology and consumer behaviour. Under the leadership of CEO Sameh Muhtadi, the company appears well placed to continue deliv- ering exceptional residential and mixed-use communities that will strengthen Ras Al Khaimah's competitive edge in the UAE real estate sector for years to come. RAK PROPERTIES UAE RAK Properties has seen tremendous growth over the past year on the back of strong sales and multiple new project launchesarabianbusiness.com 15 PROPERTY GIANTS Naaman Atallah serves as the CEO of Nakheel, bringing nearly three decades of extensive professional experi- ence to his role. Under his leadership, he oversees a team of over 1,200 employees, collectively striving to create innovative developments that o er exceptional residential, retail, hospi- tality, and leisure options to customers. He assumed his position at Nakheel in Q4 of 2020 and has played a pivotal role in elevating the company's reputation as a global leader in master development. As a key industry gure and strategic visionary, Atallah places a strong emphasis on customer-centricity as a foundational element for driving busi- ness excellence and growth. Among his many achievements, he successfully restructured Nakheel’s business strategy, focusing on e cient delivery and customer satisfaction. This strategic shift resulted in a signi cant surge in market demand and exceeded sales targets in less than a year. Moreover, he has fostered an inclusive workforce that embodies Nakheel’s core values and principles. Prior to his tenure at Nakheel, Atallah held high-ranking leadership positions at some of the real estate industry's most prominent companies. His previous roles include serving as the CEO of Piramal Realty in India, CEO of Dubai Properties, COO of Emaar, and COO of Qatari Diar. He has also been actively involved in various real estate industry organisa- tions and has provided advisory insights to real estate funds' investment commit- tees. Currently, he also serves as a board member of the real estate division of the Misk Foundation, dedicated to advanc- ing Saudi youth. He earned a Bachelor of Science in Civil Engineering from the University of Texas and a Master of Busi- ness Administration (MBA) from Pepperdine University. Nakheel is a renowned master developer celebrated for its iconic projects that contribute signi cantly to Dubai's vision. They have extended Dubai's coastline by over 300 km through waterfront developments like Palm Jumeirah, creating seafront homes, resorts, hotels, and attractions. Spanning 15,000 hectares, Nakheel's master communities, including Palm Jumeirah, Jumeirah Islands, and more, o er diverse destinations and facilities for Dubai’s residents and tourists. Nakheel Community Management (NCM) is a custom- er-centric company delivering exceptional services to approx- imately 700,000 residents across 18 master communities. Nakheel also operates world-class retail destinations such as Nakheel Mall, Ibn Battuta Mall, and upcoming projects like Al Khail Avenue. Their hospitality portfolio includes luxury hotels like The St. Regis Dubai, The Palm, and family-friendly resorts. Nakheel Home Rental manages over 16,500 villas and apart- ments across various developments. In September 2023, Nakheel introduced its visionary project, Palm Jebel Ali, to the market. This development follows the unveiling of a futuristic masterplan by Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, earlier this year. This includes four fronds featuring Coral villas and Beach villas, each available in eight unique styles. These villa types are inspired by nature's beauty, designed to shape the future of Palm Jebel Ali as a sought-after residential and lifestyle destination. NAKHEEL UAE Nakheel is a renowned master developer celebrated for its iconic projects that contribute signi cantly to Dubai's visionPROPERTY GIANTS 16 AB Property Giants — January 2024 ORO24 Developments, head- quartered in the heart of one of the world’s most dynamic cities Dubai, stands as a beacon of innovation, luxury, and unparalleled quality in the real estate sector. With a legacy spanning over two decades, the company is committed to reshaped the skyline of Dubai, craft- ing iconic structures that not only de ne luxury living but also repre- sent the visionary spirit of the UAE. ORO24 stands as a beacon of innova- tion and luxury in the global real estate sector, particularly in the vibrant cityscape of Dubai. Established with a vision to rede- ne urban living, ORO24 has seam- lessly integrated modern architecture, sustainable practices, and luxury amenities to create masterpieces that resonate with the desires of the modern homeowner. Headquartered in the iconic city of Dubai, ORO24 has rapidly ascended the ranks of the real estate industry, earning a reputation for excellence, integ- rity, and innovation. With a diverse portfolio that spans resi- dential, commercial, and mixed-use developments, the company has solidi ed its position as a market leader, setting new benchmarks for quality and design. Core values • Integrity: Upholding the highest standards of ethics and transparency in all business dealings. • Innovation: Continuously pushing boundaries to introduce groundbreaking designs and technologies. • Excellence: Commitment to delivering projects that surpass expectations in quality and craftsmanship. • Sustainability: Championing environmentally responsible practices to create a greener future. Portfolio: ORO24’s diverse portfolio spans across resi- dential, commercial, and mixed-use developments. Each project is a testament to the company's dedication to crafts- manship, attention to detail, and understanding of evolving market trends. From luxurious waterfront residences to avant-garde o ce spaces and vibrant retail hubs, ORO24's developments cater to a wide spectrum of clientele, setting new benchmarks in the industry. Team and expertise: At the helm of ORO24 is Atif Rahman with a team of seasoned professionals, each bring- ing a wealth of experience and expertise to the table. From architects and engineers to marketing and sales specialists, the company boasts a multidisciplinary team that collab- orates seamlessly to bring visionary projects to life. Contin- uous training and development initiatives ensure that the team stays abreast of the latest trends and technologies, ORO24 DEVELOPMENTS ORO24 is a journey committed to changing people's lives, said Rahman UAEarabianbusiness.com 17 PROPERTY GIANTS driving innovation and excellence in every endeavour. Commitment to sustainability: In an era marked by environmental challenges, ORO24 remains steadfast in its commitment to sustainable development. The company prioritises eco-friendly construction practices, leveraging renewable energy sources, and implementing energy-ef- cient systems to minimise its carbon footprint. With a vision to create developments that harmonise with nature, ORO24 integrates green spaces, water conservation meas- ures, and waste management solutions in its projects, setting new standards for eco-conscious development in the region. Customer-centric approach: Central to ORO24’s success is its unwavering focus on customer satisfaction. The company adopts a holistic approach to customer service, ensuring seamless communication, transparent processes, and timely delivery. With a dedicated customer support team, ORO24 maintains open channels of dialogue with its clientele, fostering trust and long-lasting relationships. Corporate Social Responsibility: Beyond business, ORO24 is committed to giving back to the community through its corporate social responsibility initiatives. The company is involved in various philanthropic activities, including education, healthcare, and environmental conser- vation, aiming to make a positive impact on society and create a lasting legacy for future generations. Future outlook: As Dubai continues to evolve as a global hub for commerce, tourism, and innovation, ORO24 remains poised to play a pivotal role in shaping its future. With a robust pipeline of projects in the o ng and a vision to rede- ne urban living, the company is geared up to introduce more iconic developments that resonate with the aspirations of the modern-day discerning consumer. ORO24 Real Estate Development stands as a paragon of excellence in the realm of real estate development. With a rich legacy of delivering iconic projects, a commitment to sustainability, and an unwavering focus on customer satis- faction, the company continues to chart new horizons, setting benchmarks in innovation and quality. As Dubai’s skyline continues to transform, DRED remains at the fore- front, shaping the city's future and leaving an indelible mark on its landscape. ORO24 stands as a beacon of innovation and luxury in the global real estate sectorPROPERTY GIANTS 18 AB Property Giants — January 2024 ANAX Developments is a real estate development company that is part of the larger ANAX holding group operating in hospitality, real estate, and media. The company aims to redefine the future of real estate, setting unprecedented stand- ards for modern living through a commitment to innovation, quality, and community building. ANAX Devel- opments’ vision is to craft lasting lega- cies, embodying the perfect fusion of luxury, convenience, and a strong sense of belonging as it expands into Dubai and beyond. ANAX Developments adheres to sound principles that guide the company’s decisions, ensuring prudent and sustainable growth. The rm’s customer focus is paramount and it is dedicated to understanding and meeting the unique needs of each client. By balancing these strategic and rela- tionship elements, ANAX Developments navigates the intri- cacies of the nancial landscape while cultivating enduring relationships and solidifying its position as a trusted partner in the journey to nancial success. The company’s brand narrative unfolds as a harmonious blend of passion, skillful craftsmanship, and groundbreak- ing innovation. Rather than simply constructing properties, ANAX Developments aspires to “breathe life into dreams and aspirations, shaping them into tangible reality.” Each home crafted by the company is a vibrant canvas, an artistic mani- festation, and a living testament to its unwavering dedication to rede ning the concept of a ordable luxury. ANAX Developments strives to provide unsurpassed services and a living experience that de nes the essence of a ordable luxury, setting the stage for the company’s success and its clients. The company is driven by passion, thrives on innovation, and pledges to cultivate con dence through trust and sustainability. In terms of destinations, ANAX Developments’ strategic vision revolves around meticulously selecting prime loca- tions that epitomise re ned living. The company is commit- ted to craft properties that seamlessly merge luxury, comfort, and strong investment potential. Currently, ANAX has developments in Business Bay, Meydan, Furjan, and Dubai Maritime City in Dubai. Its rst development is Vento Tower in Business Bay, described as an “architectural masterpiece in the heart of Dubai, where modern luxury is de ned by a living experi- ences that transcends beyond material possessions.” The tower is said to invite owners to fully embrace the present moment and experience luxury in its full essence with its ANAX DEVELOPMENTS Sanpal’s diverse portfolio spans across sectors, including real estate and hospitality UAEarabianbusiness.com 19 PROPERTY GIANTS visionary design that exudes the essence of luxury and a profound sense of wellbeing, creating a sanctuary of seren- ity amidst the bustling city. ANAX Developments embraces corporate social respon- sibility as a cornerstone of its values. The company strives to contribute to societal well-being through sustainable practices, community engagement, and ethical business conduct. Its chairman, Satish Sanpal, says the company thrives on a strategic investment approach and steadfast principles with an unwavering commitment to customer focus at its core. Under his leadership, ANAX Developments navigates its diverse ventures with precision while cultivating rela- tionships and ensuring sustained growth to shape “a future where excellence and dedication converge for the benefit of all.” Dubai’s real estate market provides an attractive opportunity for investment due to factors like its repu- tation for safety and stability, strong returns on invest- ment, position as a global strategic hub, tax-free envi- ronment, and the government’s initiatives for digital transformation and sustainability. Population growth, expatriate influx, and booming tourism drive robust rental demand and escalating property prices. Rental yields in Dubai are among the highest in the world, ranging from 5-8.4 percent, while the emirate’s reputation positions it as the best city in the world to live and work. The Dubai Economic Agenda aims to launch innovative projects to achieve the vision of Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, UAE vice president, prime minister and minister of defence, while the Dubai Land Department’s instant sale feature utilising smart eval- uation technology streamlines property purchases. Overall, Dubai’s real estate thrives based on its strategic location connected to one third of the world’s population and economic growth is fueled by e orts to attract foreign investment and innovation. These attributes lead to Dubai providing a unique opportunity for pro table and secure real estate investment. Sanpal reiterated that ANAX Developments thrives on a strategic investment approach and steadfast principles with a focus on putting customer focus at the core to ensure sustained growth and shaping a future where excellence and dedication converge for the bene t of all. With luxury in mind, Vento Tower's private balconies are designed according to individual unit plansNext >