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Tag: UAE developers

  • Majid Al Futtaim Signs $3.1 Billion New Cairo Development Deal

    Majid Al Futtaim Signs $3.1 Billion New Cairo Development Deal

    The master-planned development will span approximately 553 feddans—equivalent to 2.32 million square metres—and is set to include around 6,000 residential units, hotel facilities, commercial and entertainment venues, and a dedicated business and services district.

    The agreement was signed at the Egyptian Cabinet headquarters in the New Administrative Capital under the patronage of Prime Minister Dr Mostafa Madbouly. The ceremony brought together senior Egyptian and UAE officials, including Minister of Housing, Utilities and Urban Communities Randa El-Menshawy, Minister of Investment and Foreign Trade Hassan El-Khatib, and UAE Ambassador to Egypt Hamad Obaid Al Zaabi.

    Ahmed Galal Ismail, Chief Executive Officer of Majid Al Futtaim Holding, and Ayman Elkousey, Managing Director and Chief Executive Officer of MIDAR, formalized the partnership.

    “Our strategic partnership with MIDAR marks a proud new chapter for Majid Al Futtaim in Egypt. By bringing our regional expertise in developing integrated, mixed-use communities to Mada City, we are creating an advanced urban model that places quality of life and sustainability at its core,” Ismail said.

    The development will be delivered in phases. The first phase will cover 200 feddans, or 840,000 square metres, over the first four years from the start of implementation. A second phase will encompass 300 feddans, or 1.26 million square metres.

    An additional 60 feddans—approximately 240,000 square metres—have been earmarked for a possible integrated shopping and entertainment destination. This area will be allocated progressively based on the pace of development and occupancy rates, potentially pushing the project’s total development value beyond $4 billion.

    MIDAR confirmed the partnership will operate under a revenue-sharing model, with the expected future value for the company exceeding EGP40 billion. Ayman Elkousey said the deal reinforces Mada City’s position as an attractive urban destination for regional investors and reflects confidence in Egypt’s real estate market.

    Majid Al Futtaim has maintained a presence in Egypt for 27 years, investing approximately $2.8 billion and creating more than 226,000 direct and indirect jobs. The group’s Egyptian portfolio includes Mall of Egypt, City Centre Almaza, City Centre Alexandria, City Centre Maadi, 115 Carrefour and Supeco stores, cinemas, and leisure assets.

    The New Cairo project represents a strategic shift for the Dubai-based developer, extending its regional footprint into large-scale residential communities. Ismail emphasized that the initiative builds on the group’s long-standing investment in Egypt and supports the country’s development priorities, aiming to create meaningful economic value while meeting the highest international standards.

    The move comes as UAE-based developers continue to expand across the region, with Majid Al Futtaim previously announcing a Dh62 billion mixed-use community in partnership with Dubai South. Meanwhile, Dubai’s real estate market is projected to attract over $272 billion in new projects over the next five years, reflecting the strength of Gulf developers’ ambitions both domestically and abroad.

  • Arada Begins London Expansion with Swiss Cottage Apartments

    Arada Begins London Expansion with Swiss Cottage Apartments

    UAE developer Arada has officially started the pre-launch phase of its first London residential project, signaling the company’s strategic expansion beyond the Gulf market. The 172-apartment development at 100 Avenue Road in Swiss Cottage represents Arada’s entry into the UK capital’s competitive prime residential sector through its newly rebranded Arada London platform.

    Construction is already underway at the site, with handovers expected in the fourth quarter of 2028. The project will offer Manhattan, one-, two-, and three-bedroom apartments in one of North West London’s most established residential neighborhoods.

    “There are very few opportunities left in London to buy into an address like this: an established, deeply connected neighbourhood where new development of this scale is exceptionally rare and where long-term capital preservation is as compelling as the lifestyle on offer,” said Ahmed Alkhoshaibi, Group CEO of Arada. “100 Avenue Road is exactly the kind of development Arada was built to deliver, where design, amenity and location work together to create a genuinely unique product, and we look forward to welcoming the first residents in 2028.”

    The development sits directly above Swiss Cottage Underground station on the Jubilee line, providing direct connections to central London, Canary Wharf, and the City. South Hampstead Overground and West Hampstead Thameslink are also within walking distance, offering residents seamless connectivity across the capital.

    Arada confirmed that the building will be the tallest in the Swiss Cottage, Hampstead, St John’s Wood, and Belsize Park area—a strategic positioning in a zone where large-scale residential development is limited. The location places residents within reach of Regent’s Park, Hampstead Heath, Primrose Hill, Hampstead Village, and Lord’s Cricket Ground.

    Premium Specifications and Amenities

    Homes at 100 Avenue Road will range from approximately 422 square feet to 957 square feet, with each unit featuring a private balcony and views across the London skyline. The residences will be offered on a 999-year leasehold basis and designed by Arada London’s in-house team.

    Interior specifications include herringbone oak flooring, underfloor heating, bespoke porcelain bathroom fittings, ambient night lighting, fully equipped kitchens with premium stone worktops, integrated appliances, wine coolers, washer-dryers, and designer fittings.

    The development will feature a comprehensive amenity package including a swimming pool with vitality spa, sauna, steam room, treatment room, fully equipped gym, Technogym Visio Studio, and Reformer Pilates studio. Residents will also have access to a 24-hour concierge, front-of-house team, residents’ lounge and library, private dining room, cinema, and virtual golf simulator.

    Arada London’s Wider Pipeline

    The launch follows Arada’s acquisition of Regal in September 2025, which gave the UAE developer immediate access to a pipeline of more than 17,000 homes across London. Arada London now operates as one of the capital’s major mixed-use developers, with capabilities spanning residential, student accommodation, workspace, and large-scale regeneration projects.

    The company’s work covers development, construction, design, and asset management, positioning it to compete in one of the world’s most established and competitive real estate markets.

    Arada’s London expansion comes as UAE developers increasingly pursue international diversification strategies. The move mirrors broader trends in the region’s real estate sector, where the UAE has emerged as a top global investment destination, creating a platform for homegrown developers to scale internationally.

    With construction already progressing and pre-launch activity underway, Arada is positioning 100 Avenue Road as a flagship project that combines its UAE-developed design and lifestyle approach with Regal’s established London delivery experience. The 2028 completion timeline will serve as a key test of Arada’s ability to execute premium developments outside its core Gulf markets.