Reef launches in UAE with first-of-its-kind ‘sunken balcony’
CONSTRUCTION NEWS
Reef Luxury Developments, a pioneering real estate developer based in Dubai, has officially launched, planning to unveil 30 projects valued at approximately AED14 billion ($3.8 billion) by December 2025.
The company has acquired a land bank that will bring 5,000 residential units to the emirate, with projects worth around AED5 billion set to launch over the next three months.
All apartments in Reef properties will come with temperature-controlled sunken balconies, an innovation patented by the developer that allows residents to enjoy year-long outdoor living.
Significant impact
With over a decade of industry experience collaborating with renowned developers, Reef is poised to make a significant impact on the real estate sector. Reef Luxury Developments will focus on launching unique projects in fast growing communities to ensure both an exceptional living experience and high return on investment (ROI) for buyers.
Samer Ambar, CEO, Reef Luxury Developments said “Aligned with the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai to establish Dubai as a global hub for innovation. We have introduced the first-of- its- kind ‘Sunken Balcony’ technology transitioning the real estate industry globally.
He added: "Our commitment is to create exceptional properties that not only cater to the needs of today's residents but also anticipate the evolving demands of the future. We are excited to lead the way in shaping vibrant communities that will enrich the quality of life for all."
Making luxury accessible
Reef Developments is dedicated to making luxury living accessible. Its properties will be designed with modern amenities that cater to contemporary lifestyles, featuring plenty of green spaces, smart technology, energy efficient buildings and communal spaces which encourage social interaction.
To enhance its capabilities, Reef Luxury Developments has invested over AED40 million in Research & Development to lead the real estate industry for innovation and providing more value to its customers focusing on technology and design.
The company has confirmed it will launch its first Dubai residential project soon.--TradeArabia News Service
