Dar Al Arkan, a leading real estate company in Saudi Arabia, made key announcements last month highlighting its foray into the UAE market with designer homes and into Qatar with a luxury residential development.
In its home country, it has signed a major agreement with Madinat Al Wouroud Housing Development Company to jointly set up a premium residential project at an investment of SR3.7 billion ($985 million) in Taif governorate in the southwest of the kingdom.
The project will be developed on an area of 1 million sq m while fully respecting and preserving the topography and environmental features of Taif. It will offer premium apartments, villas, and townhouses in addition to a variety of commercial facilities and amenities.
While the project targets the residents of Taif and the surrounding area, it will also promote the city across the kingdom as a key destination and a valuable opportunity for customers to purchase exceptional summer homes.
Chairman Yousef Al Shelash says: “We are delighted to be partnering with Madinat Al Wouroud Housing Development, a company experienced in developing and managing high-quality residential communities, to deliver this unique project for the residents of Taif and the citizens of Saudi Arabia.”
“In full appreciation of Taif’s natural elements, Dar Al Arkan will ensure that the new project is environmentally friendly. We expect to see high demand for this project in one of the most desirable cities in the kingdom and Saudi Arabia’s unofficial summer capital.”
In Dubai, Dar Al Arkan has unveiled a new waterfront residential tower – the Urban Oasis – which will feature homes designed by luxury Italian fashion house Missoni (known for its bold colours and iconic zigzag motifs, stripes, and wave patterns).
The launch of the AED800-million ($218 million) development marks two significant firsts for both the companies: Dar Al Arkan’s regional expansion with its first project in the UAE and the Arab world’s first-ever bespoke Missoni-inspired living spaces designed by the fashion brand’s MissoniHome line dedicated to interiors, decor, and furnishings.
Urban Oasis is situated in the heart of the city directly on the Dubai Water Canal in close proximity to Downtown Dubai’s top attractions such as Burj Khalifa and The Dubai Mall, and many other premium lifestyle locations. The deluxe homes of Urban Oasis offer spectacular and uninterrupted views of the Dubai Water Canal
Construction of the tower is currently under way and is set to be completed before the end of 2023.
On the new project, Vice Chairman Ziad El Chaar says: “Its location is in one of the most sought-after areas in the city, and we’re happy to have our first flagship development in the UAE situated in the heart of Dubai. Given its proximity to Downtown Dubai, Urban Oasis assures the best that the city life can offer, making it the ideal place to live. Working with Missoni is a clear indication of our continued dedication to providing our clients and investors with the highest standards of luxury living, while being unique.”
The Urban Oasis consists of 38 floors of high-end one, two- and three-bedroom apartments, offering five-star living and waterfront views, and four-bedroom penthouses. The penthouse apartments, which are accessible via a private elevator, come fully fitted with high-end Missoni fixtures and décor elements.
Missoni CEO Livio Proli says: “We’re delighted to be working with Dar Al Arkan on the Urban Oasis project, our first in the region, and are excited to be furnishing these incredible apartments with the finest fabrics and Miami-inspired design, which will give the homes a unique and original finish.”
Residents will also have access to luxury facilities and services. The tower features a swimming pool, a children’s play area, car parking, an equipped gymnasium, and 24/7 conceirge and security service, he added.
Meanwhile, in Qatar, Dar Al Arkan has signed an agreement with Qetaifan Projects, a leading Qatari real estate company and a unit of Katara Hospitality, to develop a premium project on Qetaifan Island North, thus marking its foray into the Qatari real estate market.
Work on the luxury development, which boasts premium residential units with direct sea views, is set to begin in Q2 next year and total sales are expected to reach over QR1 billion ($272.9 million).
The project will offer residents the timeless appeal of seafront living coupled with modern amenities in addition to access to specialised retail outlets on the ground floor.