AN ITP MEDIA GROUP PUBLICATION JANUARY 2025 • VOL. 2 • ISSUE 01 As Dubai’s iconic skyline transforms, KASCO Developments leads the charge with innovative, community-driven projects RETHINKING REAL ESTATE In partnership with KASCO Developments CWPME_Jan2025_00_Cover_13484920.indd 106/01/2025 16:10jubailisland.ae +971 2 448 0011 Elegant by nature Explore the boundless possibilities of island livingExplore the boundless possibilities of island living in the heart of the Emirates.in the heart of the Emirates. Bada Al Jubail - an island within an island,Bada Al Jubail - an island within an island, a retreat within a superb natural setting.a retreat within a superb natural setting. Untitled-5 105/12/2024 13:24EDITOR’S LETTER 3 As we step into 2025, the Middle East real estate sector stands at an exhilarating crossroads of innovation, opportunity, and transformative potential. This year promises to be a pivotal moment for our region’s property landscape, with emerging trends that will reshape how we live, work, and invest. Our cover story featuring Mustafa Al Kaissi and KASCO Developments perfectly embodies the spirit of this exciting era. With ambitious plans to develop 1 million square feet of residential projects and an investment exceeding AED 1.2 billion, KASCO represents the bold vision driving our real estate market forward. KASCO’s journey refl ects our region’s broader narrative: resilience, innovation, and an unwavering commitment to creating spaces that inspire and empower. Moreover, the UAE remains a beacon of stability and opportunity in a globally uncertain market. With policies encouraging foreign investment and a robust infrastructure, our real estate sector is not just growing – it’s leading a global conversation about the future of urban living. So, here’s to a year of remarkable stories, groundbreaking developments, and continued excellence. Happy reading! Yours truly, Shehzin Shaikh Editor CWPME_Jan2025_3_Editor Letter_13485931.indd 306/01/2025 16:18CONTENTS 4 EMERGING MARKETS Amidst the evolving global investment landscape, Ras Al Khaimah is swiftly establishing itself as a favoured investment destination. SPOTLIGHT As XBD Collective approaches its 10th anniversary, Ellen Søhoel, Founder and Managing Director, refl ects on a decade of innovation, collaboration, and growth. CO-BRANDED RESIDENCES Exploring the fusion between luxury real estate and renowned luxury brands. COVER STORY Mustafa Al Kaissi reveals how KASCO Developments balances innovation and sustainability to build vibrant communities across Dubai. DESIGN & ARCHITECTURE Peeking into the world of unique designs and innovative structures in the Middle East’s real estate scene. POWERLIST The list “Top Residential Launches of 2024” celebrates the residential developments that have been launched throughout the year in the UAE. 1612 22 8 8 12 16 22 30 36 CWPME_Jan2025_4-5_Contents_13485014.indd 406/01/2025 16:195 36 30 6880 74 LAVISH LUXURIES Enhancing luxury properties with exquisite fi t-outs, luxe materials and iconic furniture. 68 BROKER BRILLIANCE Revealing the expertise, strategy, and dedication of the professionals who make dreams come true. FINAL KEYS As we approach the end of 2024, the UAE real estate market stands as a testament to resilience, dynamism, and unparalleled growth. 74 80 CWPME_Jan2025_4-5_Contents_13485014.indd 506/01/2025 16:196 PO Box 500024, Dubai, United Arab Emirates Tel +971 4 444 3000 Web: www.itp.com Offices in Abu Dhabi, Dubai, London, Mumbai, Riyadh & Geneva ITP MEDIA GROUP CEO Ali Akawi Managing Director Martin Chambers Head of Digital Media Thomas Shambler EDITORIAL Editor Shehzin Shaikh +971 4 444 3719; shehzin.shaikh@itp.com Associate Editor Julianne Tolentino +971 4 444 3855; julianne.tolentino@itp.com Commercial Editor Angitha Pradeep +971 4 444 3278; angitha.pradeep@itp.com ART Art Director Amjad Ayche amjad.ayche@itp.com Art Editor Tofiq Memon tofiq.memon@itp.com ADVERTISING Group Commercial Director Anup Nagpurkar +971 4 444 3573; anup.nagpurkar@itp.com Commercial Director Moutaz Gadelhak +971 4 444 3177; moutaz.gadelhak@itp.com Commercial Manager Aanchal Sharma +971 4 444 3663; aanchal.sharma@itp.com PHOTOGRAPHY Senior Video Editor Liju Cheruvathur MARKETING Head of Events Eleanor Ashton email: eleanor.ashton@itp.com Events & Marketing Manager Kate Galaktionova Associate Events Manager Vrinali Nazareth Events Administrative Assistant Aronn Pureza Events Administrative Assistant Bobbie Rosario Events Sales Assistant Joyce Salonga email: events@itp.com PRODUCTION Production Manager Balasubramanian P DISTRIBUTION Circulation Executive Rajesh Pillai Distribution Coordinator Avinash Pereira ITP GROUP CEO Ali Akawi CFO Toby Jay Spencer-Davies Website www.property.constructionweekonline.com NOTICE: The publishers regret that they cannot accept liability for errors or omissions contained in this publication, however caused. 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CWPME_Dec2024_6_Flannel_13444575.indd 604/12/2024 18:13Untitled-6 105/12/2024 13:27EMERGING MARKETS 8 RAS AL KHAIMAH: UAE’S NEXT INVESTMENT FRONTIER With property prices set to double by 2026 and the MENA region’s first integrated gaming resort under construction, Ras Al Khaimah is rapidly transforming from a quiet emirate into a global investment hotspot Images supplied by: Wynn R esorts/Shutterstock Words by Shehzin Shaikh CWPME_Dec2024_8-11_Emerging Markets_13456746.indd 804/12/2024 18:14EMERGING MARKETS 9 A midst the evolving global investment landscape, savvy investors are actively exploring fresh opportunities, and Ras Al Khaimah is swiftly establishing itself as a favoured destination. “Ras Al Khaimah (RAK) presents unique advantages for investors when compared to other emirates. First and foremost, the cost of living and property prices are signifi cantly lower than in cities like Dubai and Abu Dhabi, making it an attractive destination for those seeking more aff ordable yet premium real estate. RAK is also emerging as a hub for blockchain and high-tech companies, thanks to its specialised free economic zones and growing infrastructure for digital assets,” explains Yasser Hillayel, Managing Director, YAS Properties. He continues, “Moreover, RAK’s natural beauty, with its pristine beaches, mountains, and year-round cooler weather, appeals to both investors and residents. Most importantly, the emirate is quickly becoming a hotspot for luxury tourism, bolstered by the upcoming Wynn Resort on Al Marjan Island, which will house the region’s fi rst gaming resort and casino.” WYNN RESORT SPARKING GLOBAL INTEREST The government has initiated various projects, with the key one being the Wynn Resort on Al Marjan Island. According to latest reports, the resort is going ahead as planned with 55% of the structural concrete now complete. The concrete structure is complete up to the 26th fl oor of the main resort tower, with walls extending to the 29th fl oor. The construction team is completing one fl oor per week, working toward a topping off in December 2025. In the last 100 days, the resort tower grew by 44 metres. The resort will off er 1,542 rooms and well-appointed suites. To-date, the tower structure has been completed for 1,121 guest rooms, or 73% of the total. Fit out is underway in 820 rooms – including walls, fl oors, and ceilings, as well as all mechanical, electrical, and plumbing services. Hence, the resort is scheduled to open to the public as early as 2027. Moreover, upgrades are underway for the emirate’s road systems, airport, and utilities to improve accessibility and connectivity, particularly for investors travelling between Dubai and RAK, a brief 45-minute drive. “RAK off ers a new opportunity for investors who are looking for higher yields in the future. Many Dubai locations have become saturated with capital values maturing, resulting in lower yields sitting at approx. 6-7%. With the arrival of Wynn, predicted returns are beyond 9% on Marjan Island,” shares Neema Kataria, Managing Partner, Hunt & Harris Real Estate. Overall, the emirate presents considerable opportunities for the luxury residential, hospitality, and tourism sectors, supported by a robust economy and consistently high ratings from reputable agencies like Fitch and S&P. The emirate’s distinctive and low-risk fi nancial environment enables investors to feel secure in a steady and sustainable growth setting that provides appealing returns. Left: The tower will peak at an impressive 300 metres above the sea Right: A well-landscaped swimming pool CWPME_Dec2024_8-11_Emerging Markets_13456746.indd 904/12/2024 18:14Next >