Meraas Properties Review of the Developer

Developers Meraas Properties Review of the Developer
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~12 min
10/04/2023
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Introduction

Meraas Properties, a prominent name in the real estate market of Dubai, has firmly established itself as a leading developer in the region. With a diverse portfolio of exquisite properties and a commitment to contemporary design and the finest materials, Meraas has become synonymous with luxury and innovation in the Middle East's real estate landscape. From sought-after locations like City Walk and La Mer to the breathtaking views of Dubai's skyline offered by projects such as Bluewaters Island and Dubai Marina, Meraas consistently delivers properties that redefine modern living. The company offers an extensive range of options, each designed to provide residents with an exceptional and vibrant community experience.

Under the visionary leadership of the Group Chairman, Meraas continues to transform Dubai's urban landscape with iconic developments like Ain Dubai, the world's largest observation wheel. With flexible payment plans and a commitment to asset management, Meraas makes luxury living accessible to a diverse range of residents and investors, making it a popular choice in the Dubai real estate market.

History

Meraas Properties, a dynamic conglomerate based in Dubai, has a rich history dating back to its establishment in 2007. Under the visionary leadership of Group Chairman Sheikh Ahmed bin Saeed Al Maktoum, Meraas has ventured into diverse sectors, including real estate, retail, hospitality, food and beverage, leisure and entertainment, and healthcare.

Within the realm of real estate, Meraas has left an indelible mark on Dubai's landscape. Their portfolio encompasses property development, sales, and asset management. Notable projects include the iconic Port de La Mer, the urban oasis of Central Park at City Walk, the family-friendly Cherrywoods, the luxurious Bluewaters, the prestigious Bvlgari Residences, the coastal charm of Nikki Beach Residences, and the elegant Villa Amalfi.

In 2019, Meraas introduced Dubai Harbour, an ambitious development set to become the Middle East's first yachting community hub and the largest marina in the Middle East and North Africa, boasting an impressive 1,100 berths and the iconic 135-meter Dubai Lighthouse.

In 2021, Meraas Properties unveiled the largest ferris wheel in the world named Ain Dubai. It is a towering landmark standing over 250 meters tall and constructed with more than 9,000 tonnes of steel. Ain Dubai is located on the vibrant Bluewaters Island further cementing Meraas Properties' reputation for pushing the boundaries of innovation and excellence in construction development.

Average Prices for Properties

Meraas offers a diverse range of properties with varying price points to cater to different preferences and lifestyles in Dubai. Here's a glimpse of the average prices for some of their remarkable developments:

  1. Elara at Madinat Jumeirah Living. As part of the Urban Edition, Elara presents an exclusive central address with modern architecture and interiors. This development offers 1 to 3-bedroom luxury apartments and 4-bedroom penthouses for sale, providing residents with an extraordinary lifestyle experience. Prices for these residences start from AED 2.3 million.

  2. Design Quarter at D3 (Dubai Design District). This unique community features duplexes, premium penthouses, and 1 to 3-bedroom homes. Design Quarter offers a distinctive living experience, it is an attractive choice for those seeking a contemporary urban lifestyle. Prices for these properties start at AED 2.02 million.

  3. Bluewaters Bay. Nestled on the iconic Bluewaters Island, Bluewaters Bay offers an exclusive seafront living experience. This development features 1 to 4-bedroom apartments, and prices start from AED 2.56 million. Residents can enjoy breathtaking views and a vibrant island atmosphere.

  4. Sur La Mer. This development provides a diverse selection of luxurious coastal properties, to those who prefer a seaside lifestyle. Sur La Mer offers a range of villas and townhouses, with prices spanning from AED 9 million to AED 20.4 million.

Property prices can vary based on several factors, including the type of real estate, location within Dubai, the number of bedrooms, and additional amenities and features. Meraas Properties strives to offer a wide range of options to suit the diverse preferences of residents and investors in the dynamic Dubai real estate market.

The Key Projects

City Walk

City Walk, also known as City Walk Dubai, stands as a vibrant urban precinct nestled within the Al Wasl Community of Dubai, United Arab Emirates. This unique development offers a partially pedestrianized environment, combining shopping and leisure experiences for residents and visitors alike.

City Walk was opened to the public in February 2016, quickly establishing itself as a dynamic destination in Dubai's bustling landscape. Meraas, a prominent developer in the region, plays a pivotal role in shaping the City Walk area, contributing to its growth and allure.

Spanning over an impressive 900,000 square meters of prime land, City Walk has been meticulously developed. It seamlessly blends commercial and residential spaces, creating a multifaceted destination that appeals to tourists and locals alike. Situated in close proximity to key thoroughfares such as Al Safa Road, Al Wasl Road, and Sheikh Zayed Road, City Walk enjoys excellent connectivity within the city, enhancing its status as a sought-after hub in the heart of Dubai.

Al Seef

Al Seef, also known as Al Seef Khor, is a picturesque 1.8-kilometer waterfront promenade that gracefully lines the banks of Dubai Creek. Situated in the historic Al Fahidi neighborhood of Dubai, United Arab Emirates, this charming destination holds a unique blend of heritage and modernity.

This stunning promenade was thoughtfully brought to life through the efforts of the renowned Dubai-based real estate company, Meraas. Their commitment to innovation and quality is evident in every aspect of Al Seef's design and construction.

The project reached its completion in 2017 and offered both residents and visitors an enchanting setting to explore the rich cultural heritage of Dubai while enjoying modern amenities and stunning views of the creek. Al Seef is a testament to Meraas' dedication to creating iconic and vibrant spaces within the city, making it a sought-after area for those seeking an authentic yet contemporary Dubai experience.

Bluewaters Island

Bluewaters Island is a captivating artificial island located just 400 meters off the coastline of Jumeirah Beach Residence, near Dubai Marina. It is one more of Dubai's unceasing quest for innovation and luxury.

Approved by Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and unveiled on February 13, 2013, this ambitious project was brought to life by Meraas Holding.

The island, constructed on reclaimed land, showcases the world-class expertise of Van Oord, a renowned Dutch firm famous for its work on the iconic Palm Jumeirah. The project, including the famous Ain Dubai (the Dubai Eye), came at an estimated cost of AED 6 billion (approximately 1.6 billion USD).

The island's residential offerings consist of ten mid-rise buildings, each with 15 stories or fewer. Bluewaters Island is a symbol of Meraas' commitment to creating iconic and vibrant spaces, redefining the essence of luxury living in Dubai's dynamic landscape.

Bluewaters Residences

Bluewaters Residences is a prestigious collection of residences situated on the captivating man-made island of Bluewaters in Dubai. This luxurious development offers a diverse range of one to four-bedroom apartments, penthouses, and townhouses, setting a new standard for upscale living in the city.

These exceptional properties are thoughtfully designed and strategically positioned over a podium, offering residents breathtaking views of the majestic Persian Gulf. The architectural brilliance of Bluewaters Residences ensures that every resident can savor the beauty of the surroundings, making it a truly remarkable place to call home.

The delivery of these exquisite residences began in February 2019, marking the commencement of a new era of luxury living on Bluewaters Island. Bluewaters Residences exemplifies the commitment of Meraas to crafting iconic and sophisticated spaces that redefine the essence of modern urban living in Dubai.

Bvlgari Residences

Bvlgari Residences, nestled within the exclusive enclave of Jumeira Bay, represents the epitome of luxury living in Dubai. This prestigious development offers an exquisite selection of one to three-bedroom apartments, four-bedroom penthouses, and grand three to six-bedroom mansions, providing a diverse range of opulent residences.

The architectural marvel of Bvlgari Residences is a vision of Italian architect Antonio Citterio. Known for his exceptional design sensibilities, Citterio has crafted a masterpiece that seamlessly blends sophistication and comfort, setting a new standard for upscale living in the city.

What makes Bvlgari Residences even more exceptional is its exclusive status as one of only six Bvlgari-branded residences globally, adding an unparalleled level of prestige to this remarkable development.

The delivery of Bvlgari Residences commenced in February 2018, heralding the arrival of a select few residents to experience the epitome of luxury, sophistication, and world-class design. This development perfectly embodies Meraas' commitment to creating iconic and luxurious spaces that redefine the essence of modern living in Dubai.

Other Projects

The company holds several real estate parcels in Dubai, encompassing notable locations such as Jebel Ali Hills, Dubai Hills Estate, Jebel Ali Industrial Development, Jumeira Bay, La Mer, Nad Al Sheba Gardens, Al Mamzar Front, Al Satwa, Al Warsan First Redevelopment, Bvlgari Marina Lofts, Nikki Beach Resort, Al Qusais Residences, Outlet Village, Dubai Cruise Terminal and Al Warsan Industrial Plot.

Awards

Meraas Properties has garnered a prestigious array of awards and accolades that reflect its excellence and innovation across diverse sectors. Some of the noteworthy awards that Meraas has received include:

  1. Best Mixed-Use Development - Dubai Properties Group Awards. Meraas' commitment to creating exceptional mixed-use developments has been recognized with the prestigious Best Mixed-Use Development award from Dubai Properties Group. This accolade highlights their dedication to crafting integrated spaces that cater to various lifestyle needs.

  2. Best Hospitality Project - Arabian Property Awards. Meraas' endeavors in the hospitality sector have not gone unnoticed, as evidenced by their receipt of the Best Hospitality Project award from the esteemed Arabian Property Awards. This recognition underlines their commitment to delivering world-class hospitality experiences.

  3. Best Sustainable Project - Middle East Architect Awards. Sustainability is a core value for Meraas, and their efforts in this regard have been acknowledged with the Best Sustainable Project award at the Middle East Architect Awards. It is a confirmation of their dedication to environmentally responsible and sustainable development practices.

  4. Best Real Estate Developer - Arabian Business Awards. Meraas has earned the title of Best Real Estate Developer at the Arabian Business Awards. This award highlights their role as a key player in shaping Dubai's urban landscape.

  5. Best Leisure and Entertainment Destination - GCC Economic Awards. Meraas' commitment to creating vibrant leisure and entertainment destinations has been celebrated with the Best Leisure and Entertainment Destination award at the GCC Economic Awards. This recognition underscores their role in enhancing the region's entertainment offerings.

Conclusion

Meraas Properties has undeniably left an indelible mark on Dubai's real estate landscape. With visionary leadership under the guidance of Group Chairman Sheikh Ahmed bin Saeed Al Maktoum, this dynamic conglomerate has continuously pushed the boundaries of innovation, setting new standards of excellence. Their diverse portfolio, featuring iconic developments such as City Walk, Bluewaters Island, and Bvlgari Residences, showcases a commitment to contemporary design, luxury, and sustainability. The company's notable awards, including Best Mixed-Use Development and Best Hospitality Project, underscore their dedication to excellence.

Sources

Meraas Properties

FAQ

  • 1.

    Are there any family-friendly options among Meraas projects?

    Yes, most of the company's projects are suitable for family living and are equipped with all the necessary amenities for a comfortable and elite life.

  • 2.

    Are there any projects specifically designed for those seeking a private and luxurious lifestyle?

    Yes, the Bvlgari Residences offer exclusivity with one to three-bedroom apartments, four-bedroom penthouses, and six-bedroom mansions, designed by renowned Italian architect Antonio Citterio.

  • 3.

    What can residents expect from Meraas' beachfront properties?

    Meraas' beachfront properties like Nikki Beach Residences and La Cote provide residents with the ultimate private beach experience, offering a unique blend of luxury and tranquility.

  • 4.

    Who is the owner of Meraas Properties?

    Meraas Properties is owned by His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the United Arab Emirates and the Ruler of Dubai.

  • 5.

    Is Meraas part of Dubai Holding?

    Yes, Meraas became part of Dubai Holding following a directive from Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai.

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Update date: 12/07/2023