Developer MAG promises to bring a world-famous brand to the branded residential real estate sector.
The Dubai real estate sector continues to develop on an upward trajectory.
In one day, 309 sale and purchase transactions were registered in the Dubai real estate market for AED 976.42 million ](US$ 258.83 million). The number of funds issued for mortgages in the aggregate amounted to AED 458.97 million (US$258.83 million) as evidenced by data published by the emirate's Land Department (DLD) the day before.
Sales included 259 villas and apartments worth AED 614.88 million (US$167.4 million) and 50 plots worth AED 361.54 million (US$98.43 million).
Such figures are achieved mainly due to the unwavering interest of super-wealthy people in Dubai's luxury real estate market. And soon, another project will be added to this category, which needs to be added in Dubai as the luxury capital. Super-luxury hotel brand The Ritz-Carlton Residences in UAE will soon introduce residential residences to Dubai.
The first of the brand's signature residence projects - and all will be mansions - will be located on the side of Dubai Creek as part of the wellness-oriented Keturah project from Dubai-based developer MAG.
The Ritz-Carlton Residences will overlook the Ras Al Khor Wildlife Sanctuary. MAG will start selling the eight-bedroom mansions on February 15th. They are divided into three architectural themes - earth, sky, and water.
The creator will also sell two- and three-bedroom flats and penthouses as part of The Ritz-Carlton Residences. MAG of Life is MAG's wellness real estate division.
The residences will incorporate wellness creation and provide residents with a "luxurious and healthy lifestyle in Dubai." The complex will have a private club for residents, a wellness center, Michelin-starred restaurants, and a shopping promenade.
The project will be the first in the region to receive a "WELL Health and Safety Rating" for its buildings.
The Ritz-Carlton Residences is Dubai's first residential development managed by the legendary Ritz-Carlton hotelier and the first in the Middle East to meet WELL's highest health and safety standards. The hallmark of the Ritz-Carlton is the Delos wellness system based on evidence-based medicine. Delos certification in the UAE is available only at the Google and Sheikh offices.
For your comfort - service and residential apartments, a hotel and villas with a pier and storage space for yachts, a private promenade with a beach, marinas, Keturah Wellness Center with a fitness area, a yoga area, a spa and an indoor pool, an indoor club Ritz- Carlton Residents Club, children's paradise - Indoor & Outdoor Kids Club, Residential Neighborhood Park, five pools, Michelin star restaurants.
The Ritz-Carlton is sheltered from prying eyes by the quiet natural beauty of Ras Al Khor Nature Reserve. From all residences' windows, stunning views of the mangroves, pink flamingos, Dubai Creek, sunsets, and sunrises open up. The air is saturated with oxygen. Exotic landscapes complement the residences - works of art from premium natural materials and designer items.
Your comfort will be taken care of by The Ritz-Carlton, one of the leading luxury hotel brands, the only one in the world to have twice been awarded the Malcolm Baldrige Award, presented by the President of the United States for excellence. For all residents - club memberships and discounts at the Ritz-Carlton. A special privilege - admission to the Swiss school without waiting in line!
According to the latest data, the average rental rate in Dubai increased by 10.1% year-on-year by January 2022. At the same time, the cost of villas and apartments increased by 22.8% and 8.3%, respectively.
Analysts are forecasting a solid increase in rents in the first half of 2023 as foreign citizens become more active, including due to the easing of travel restrictions. In the second half of the year, rental growth may slow, but the cost of renting a pitchfork will continue growing.
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