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Dubai-based AHS Properties announced its entry into the market in November 2021 with a total asset value of more than US$100 million, including four luxury villas in Emirates Hills and Palm Jumeirah.
The announcement of the successful sale comes at a time when demand for ultra-luxury residences in Dubai is on the rise, with many tourists and end users looking to it as a more attractive destination.
According to AHS, it is developing a fifth mansion on the Palm Jumeirah, valued at $40 million.
“Within less than a year of launching AHS Properties, we have almost sold out of our existing portfolio and we have several pipeline projects to be announced. The ultra-luxury market in Dubai is booming and I am very impressed with what we can achieve Excited about the achievement in such a short period of time,” said its CEO Abbas Sajwani.
According to recent reports, demand for properties in high-end communities such as Palm Jumeirah and Emirates Hill has skyrocketed. Over the past 12 months, the market has recorded a price surge of more than 100% for these high-end homes.
In the third quarter alone, high-end residential values rose 29%, largely helped by overseas high-net-worth individuals looking to make Dubai their second home.
“There are great opportunities in this niche, but savvy business judgment and acumen are required to select the right properties and acquire them at the right price,” Sajwani said.
“AHS Properties has achieved great success less than a year after its launch and hopes to capitalize on this positive momentum in the coming years to become a dominant player in Dubai’s luxury real estate market,” he added.-TradeArabia News Service
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