Gulf House Real Estate, the premier luxury real estate developer behind the landmark Olaia Residences on Palm Jumeirah, has announced the appointment of Ashiyana Contracting as the project’s main contractor. The appointment marks a major milestone in the construction journey of what is set to become the newest crown jewel of Dubai’s most iconic island.
Located in the heart of Palm Jumeirah – one of the world’s most prestigious addresses – Olaia Residences is a signature luxury development offering bespoke duplexes and refined apartments with panoramic views of the Arabian Gulf, private beach access and world-class amenities. Metropolitan Premium Properties is the exclusive sales and marketing partner for the project.
Ashiyana Contracting will execute the full scope of construction under a turnkey contract, incorporating advanced smart-home technologies throughout the development. Kitchen systems, wardrobes, elevators and major appliances will be delivered directly by the developer to ensure the highest standards of customization and quality control.
“Olaia represents the next chapter of elevated living on Palm Jumeirah and appointing a contractor with Ashiyana’s expertise ensures every detail will be delivered with precision,” said Eng. Mohammed Mana Sultan Aballala, Founder and Chairman of Gulf House Real Estate. “Their commitment to quality, safety and innovation aligns seamlessly with our vision for this exceptional development.”
Ashiyana Contracting was selected for its strong financial standing, industry-leading track record and long-standing relationship with the developer – key factors that reinforce confidence in on-time delivery and construction reliability.
The project has secured all necessary approvals and civil defence clearances, including safety and sustainability certifications. With all approvals in place, construction activity is advancing according to schedule. Five-six floors are expected to be completed by the end of next year with full project completion and handover on track for December 2027.
Olaia Residences blends architectural brilliance with serene sophistication, offering an exclusive collection of 1–3 bedroom apartments and 3–5 bedroom duplexes. Elevated interiors, floor-to-ceiling glass, spacious terraces, private-pool duplexes and lush views of Al Ittihad Park create a lifestyle where every day feels like an escape.
Amenities include rooftop indoor and outdoor pools, a wellness center, mini-golf, private beach access, 24/7 concierge and security.
Palm Jumeirah’s strong investment profile has already contributed to 20% of units sold prior to launch, driven by limited new supply, premium rental yields and high resale potential.
