Dubai achieved a significant milestone in 2023 by establishing itself as the world’s leading luxury property market
Al Habtoor Group, a leading conglomerate in the United Arab Emirates, has raised the benchmark for luxury and comfort through a diverse array of world-class amenities and services to be offered at recently launched, state-of-the-art Al Habtoor Tower. The tower is a prime luxury project owing to its location in one of the most popular spots in Dubai and offers incredible views, including the remarkable Dubai skyline.
The luxury housing market of Dubai is poised for a robust expansion this year, with Knight Frank’s 2023 Prime Prediction’s report stating that the sector will register a significant growth rate of 13.5 per cent, which is the highest globally. The Emirate’s premium real estate market is anticipated to expand significantly owing to the limited supply of new and high-end homes.
Al Habtoor Group aims to significantly contribute to this surge and diversify the Emirate’s property portfolio through its Al Habtoor Tower, an ambitious addition to Dubai’s incredible skyline. Fabricated with meticulous attention to detail and precision, this 82-storey tower, located in the upmarket neighbourhood of the city, will masterfully blend sophistication, luxury, convenience, and privacy, while also transforming perceptions of quality and excellence. The tower, through its unique and world-class amenities spread across three levels, is set to offer unparalleled hospitality to its residents. Scheduled to be completed within three years, this tower will further offer 360° views of the breathtaking Dubai skyline, including the iconic Burj Khalifa, Dubai Canal, Meydan and the Arabian Gulf waters.
Mohammed Al Habtoor, CEO and Vice Chairman, Al Habtoor Group stated: “Al Habtoor Tower project is one of our most ambitious projects that is set to redefine the concept of urban living. By launching this iconic tower, we expect to meet the rising demand for luxury residences in Dubai. The tower is a testament to our unwavering dedication to surpass all levels of customer expectations by creating and providing extraordinary homes and experiences. It also reflects our commitment to setting new benchmarks for opulent living as well as in quality standards, by delivering unmatched services and first-rate amenities.”
Furthermore, according to the Knight Frank’s Destination Dubai 2023 report, Dubai marked a significant milestone in 2023 by achieving the top spot in the global market for luxury real estate. The city surpassed London, New York, and Paris for the first time in the first half of this year by generating around USD 850 million (AED 3.1 billion) from high-end residential units that are valued at more than USD 10 million. By launching Al Habtoor Tower, the Group aims to raise bars in real estate development and thereby make a significant contribution to this growth.
Among the numerous remarkable amenities provided within the tower will include infinity pools with 270-degree views of the Dubai skyline, indoor and outdoor relaxation areas, multiple gym and fitness facilities, paddle tennis courts, opulent spa and sauna facilities, licensed resident cafes and restaurants, library, quiet spaces, networking rooms, etc.
The tower will be situated at one of the most coveted locales of Dubai, the Al Habtoor City, which provides residents easy access to world-class shopping, dining, entertainment, and other iconic landmarks. The building is also expected to become one of the most innovative sustainable landmark buildings. Al Habtoor City is a remarkable multi-use development that offers the best investment opportunity in the area for international buyers.
