07 September 2023, Construction Week Online
Real estate company, MERED, has unveiled its inaugural presence in Dubai, and the launch of its flagship project in Dubai Internet City. An international developer, MERED’s carefully selected team of world-class industry experts, artisans and accomplished craftsmen, are committed to pushing real estate boundaries in the country.
MERED is committed to cultivating premier destinations that not only enhance the quality of life for its residents but also endure across generations through sustained value and unparalleled building standards. The developer is also grounded in the principle of harmonizing innovative technology with a deep regard for environmental sustainability, human experience, and sophisticated design and architecture.
Dubai’s ultra-luxury real estate sector sees second boom this year
The ultra-luxury real estate sector in Dubai is in a second boom this year, not only flourishing but also establishing unprecedented records on a global scale. According to the Dubai Land Department, H1 of this year saw apartment sales more than double to a growth of 63% year on year over 2022 with a total of 46,166 apartments being sold at a value of AED 92.5 billion.
The five most expensive apartments sold in this period range from AED 78 million to AED 410 million, with the Dubai Marina area continuing to feature in the list. The prices of super luxury apartments continue to increase quarter on quarter, with Q1 2023’s fifth most expensive apartment coming in at AED 65 million, versus Q2’s AED 78 million apartment sale.
MERED announces first project in Dubai
In conjunction with the inauguration of its brand, MERED is preparing to unveil its cornerstone development in Dubai Internet City.
The upcoming project highlights MERED’s strategic approach to urban development, featuring high-quality amenities and exceptional architectural design that aligns with the company’s innovative vision for the city. Entrusted to the renowned Pininfarina firm, the architectural execution leverages their transition from a celebrated history in automotive design, with noted collaborations including Ferrari and Alfa Romeo, to a leader in the global lifestyle design and architecture industry, showcasing the peak of Italian design standards.
The upcoming MERED project aims to maintain a strong commitment to quality and precision. Collaborating with a team of international industry experts, the developer aims to create a standout architectural development that will enhance the Dubai skyline significantly. This venture is geared to merge modern aesthetics with advanced technology, marking a significant stride in Dubai’s ongoing development. Further specifics will be disclosed shortly.
Ramil Guliev, CEO of MERED, emphasises: “We are thrilled to mark the launch of MERED in the UAE, a region renowned for its forward-thinking, innovation and grandeur as well as its focus on becoming a global real estate icon. We take great pride in our commitment to building excellence and creating unparalleled living experiences, which is why we formed our team after a relentless search for the world’s best construction, design and development experts.”
“The UAE has earned its reputation as a welcoming world-class destination, and we are excited to contribute to its growth and prestige by introducing our highly crafted real estate developments. Our projects are not just buildings; they are unique places designed around the aspirations and needs of our discerning customers, reflecting our genuine care about the long-lasting impact on the community and the city.
“As we embark on this journey, MERED envisions exponential growth, driven by our unwavering dedication to our customers and to the vision of Dubai. With our team’s focus and history in delivering beyond expectations, we aim to reshape the country’s luxury real estate landscape and leave a lasting legacy of extraordinary living experiences,” added Guliev.
The company also noted that its vision of developing an extensive portfolio of ultra-high-end residential, commercial, and mixed-use developments sits in line with Dubai’s 2040 Urban Master Plan, which will see the emirate continue its global rise.