Real estate is one of the most vibrant markets in the United Arab Emirates (UAE) and in Dubai, in particular. According to a CBRE report, the city saw a record-breaking number of residential transactions in the first half of this year: 73,618 residential transactions were registered in Dubai — the highest for the first half of any year. This also reflects a 27.6 percent increase from the previous year.
Recognizing this property boom, Amwaj Development sets foot into the thriving landscape. Its inaugural project is Starlight Park, a freehold community in Meydan comprising four buildings with 172 apartments, including one-, two-, and three-bedroom units. With plans to unveil over 1.5 million square feet in new developments this year, the new real estate player is off to a great start.
In this interview, Murad Saleh, CEO of Amwaj Development, discusses what sets them apart and how their experience in the European market influences their strategy for Dubai.
While Amwaj Development is a fairly new entrant in Dubai’s thriving real estate market, it has rapidly established itself as a notable player. Can you talk about what sets the company apart from other developers?
Amwaj Development has positioned itself as a pioneer in the Dubai real estate market by combining innovation, quality, and sustainability in every project. From our flagship Starlight Park to future developments, we are dedicated to delivering projects that go beyond expectations, creating spaces that offer lasting value and an unparalleled lifestyle.
We prioritize integrating innovative architectural design, cutting-edge technology, smart living solutions, and eco-friendly practices to redefine urban living. Our core values of integrity, excellence, and innovation guide us to deliver projects and communities that will thrive for years to come, elevating living standards and ensuring premium quality for our clients.
Starlight Park is your flagship project, and its Phase 1 and Phase 2 units have been sold out since its launch in April 2024. What do you think are the top factors that drove this milestone?
The success of Starlight Park is a testament to our commitment to delivering on our promises of value and quality. We will take this opportunity to celebrate and announce the sale of the entire Starlight project, only five months after its launch, with the help of our strategic sales partner, Zed Capital.
The key drivers include our strategic location in Meydan’s District 11, high-quality finishes, expansive living spaces, and dedicated resident amenities such as EV charging stations, a rooftop cinema, a common garden, sports facilities and wellness amenities. By understanding the needs of modern families and young professionals, we crafted a community that balances convenience, luxury, and sustainability.
Amwaj Development has a development pipeline planned to exceed 1.5 million square feet in new residential projects by 2024 and over 2 million square feet by 2025. It’s an expansive plan. What do you see as the biggest challenges and opportunities in scaling the business in such a competitive market?
One of the main challenges is differentiating ourselves in a saturated market. However, we view this as an opportunity to innovate and set new standards for the mid-luxury residential segment.
Our team’s extensive experience across the UAE and Europe allows us to bring global best practices to our projects in Dubai, making us agile in adapting to changing market dynamics while maintaining high-quality standards. Additionally, sustainability and smart technology integration are areas where we see immense growth potential as Dubai moves toward a greener future.
How do you balance luxurious living with sustainable practices? What initiatives does your company take to reduce environmental impact?
At Amwaj, sustainability is embedded in our development philosophy. We incorporate eco-friendly materials, energy-efficient designs, and smart innovative technology into our projects to minimize environmental impact.
For example, Starlight Park features EV charging stations, solar panels, and energy-efficient appliances to ensure a lower carbon footprint while maintaining a luxurious living environment. In our second project, The Cube Residences, District 11, we have integrated sustainable materials wherever possible, starting with our uniquely fitted designs and smart, adaptable furniture. This ensures optimal use of every square foot of space. The smart home system and low-voltage lighting further enhance energy efficiency, significantly reducing electricity consumption.
By incorporating these sustainable practices, we aim to contribute to both the well-being of the community and the protection of the planet, minimizing the project’s carbon footprint and promoting energy conservation. We believe that luxurious living and environmental responsibility can and should go hand-in-hand.
You have an extensive background in real estate investment and business development across the UAE and Europe. How do these regions differ in terms of real estate development, and what lessons from your international experience have you applied to your projects in Dubai?
Having worked extensively across Europe and the UAE, I have observed distinct approaches to real estate development.
In Europe, there is a strong emphasis on sustainability and integrating residential projects with natural surroundings. We’ve brought these principles to our projects in Dubai, focusing on eco-friendly solutions and creating vibrant community-centric spaces that encourage social interaction. Our goal is to combine the best of both worlds. We want to offer Dubai a unique blend of luxury and environmental mindfulness.
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What are your ambitions for Amwaj Development beyond 2025, and how do you see the real estate industry evolving in the UAE, particularly in Dubai, in the coming years?
Beyond 2025, we envision Amwaj Development as a leader in redefining Dubai’s premium residential segment.
Our strategy includes expanding our footprint with more innovative and sustainable projects while continuously enhancing the living experience for our residents. We aim to contribute significantly to Dubai’s urban landscape by creating iconic landmarks that reflect our values of quality, luxury, sustainability, and community.
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