In a momentous event marking a new standard of luxury residential development, MERED, a prominent international real estate developer, joined forces with Dutch Foundation Dubai (DFD), a leading full-service engineering foundation company, to commence the groundbreaking ceremony for the highly anticipated ICONIC Tower in Dubai. The ground-breaking ceremony was attended by distinguished partners, influential stakeholders, and industry leaders, signifying the official commencement of construction.

DFD brings a wealth of experience and a dedicated workforce of over 500 professionals to the partnership, while MERED contributes its strong expertise in construction quality, building standards, and an international team of visionary experts, collectively ensuring a robust foundation for the project’s success. Harnessing the momentum of Dubai’s thriving real estate market, where prime residential capital values soared by 17.4% in 2023 and property demands are projected to rise between 4-59% in 2024, the ICONIC Tower is poised to transform the cityscape and enhance residents’ lives with unparalleled quality and luxury services.

At the ceremony, Diana Nilipovscaia, CEO at MERED said: “The construction journey ahead promises to redefine architectural excellence in Dubai. Our bold vision, crafted from the MERED team’s development expertise and Pininfarina’s renowned design legacy, positions the ICONIC Tower as a beacon of avant-garde design and quality. With total real estate transactions in the emirate increasing by 33.8% annually, and values rising more than 36.7%, the ICONIC Tower is perfectly positioned to meet the growing demand for luxury living in Dubai. This project embodies innovation, beauty, and exceptional living experiences. We extend our gratitude to our esteemed partners: Dutch Foundation, Mirage, and Omnium, whose contributions are invaluable to achieving our shared mission.”

Michel Farah, General Manager of Dutch Foundation Dubai, said: “We are committed to this project and we will finish it on time.”

Post the groundbreaking, key partners in attendance also shared their enthusiastic support for the project.

Amar Tahliani, CEO of Mirage, said: “You gave us an opportunity to work on this project, and we are really proud of it.”

Peter Westeng, Chairman and CFO at Omnium, expressed: “This is the beginning of a really beautiful project.”

Kieran Duckworth, Director, at Omnium, commented: “Hopefully, this is the start of a long-lasting partnership with MERED on this project and in the future.”

Designed to soar to a majestic height of 286.4 meters, the ICONIC Tower will be an architectural marvel. With 311 opulent apartments offering unrivalled luxury living experiences, the tower will also feature an array of world-class amenities, including a private lounge & dining room, state-of-the-art gym, private cinema, infinity pool, jacuzzi, sauna, ice spa and more. Moreover, the tower will provide 423 dedicated parking spaces, including exclusive air-conditioned spots, ensuring convenience and comfort for residents.

As Dubai’s residential market continues to flourish, the ICONIC Tower stands as a testament to MERED’s unwavering commitment to excellence and innovation. With construction slated for completion by September 2027, the tower promises to redefine luxury living in Dubai and leave an indelible legacy on the city’s skyline.

About MERED:

MERED is an international real estate developer that changes peoples’ lifestyles by redefining real estate. The brand fosters strong partnerships with top-tier architects, contractors, and service providers, sharing a commitment to their values. Its international team of visionary experts, driven by strategic cooperation, develops the real estate sector in promising locations. MERED’s projects transcend mere structures, becoming timeless masterpieces that shape cityscapes and enhance residents’ lives with unparalleled quality and services.

About Dutch Foundation Dubai:

Dutch Foundation Dubai (DFD), established in 2000 in the UAE, is a leading full-service engineering foundation company with a distinguished track record in the GCC. Specialising in advanced foundation engineering and construction, DFD boasts over 300 successful projects, leveraging the latest technology, a fleet of heavy machinery, and a dedicated workforce of over 500 professionals. Committed to excellence, safety, and sustainability, DFD continues to exceed client expectations and drive innovation in the industry.

Whitewill, the international luxury real estate agency for developers and partners that operates across the UK, USA, and UAE markets, is strategically expanding its reach within the UAE and GCC countries. Since its establishment in the UAE in June 2021, the agency has demonstrated unparalleled expertise and dedication, rapidly emerging as a beacon of quality and reliability in the real estate sector.

The company has ventured into the UAE market to export its efficient real estate brokerage models globally. Today, the agency has a global footprint that spans across key international markets, including offices in Abu Dhabi, Dubai, London, Miami, and Moscow. Some of its biggest sales include a villa in EOME, Palm Jumeirah, for AED 202 million, a 3-bedroom property at Atlantis The Royal for AED 46.5 million, and a residence at VELA by Omniyat for AED 44.2 million.

With its global property sales reaching a total value of $1.6 billion in 2023, Whitewill serves as a one-stop-shop with a comprehensive suite of real estate-related services, catering to a broad spectrum of needs. Within six months of entering the Dubai real estate scene, its agents achieved sales totalling $124 million, highlighted by the sale of the world’s tallest penthouse at Burj Khalifa. Today, its local team of 149 experienced professionals across its UAE operations continues to achieve remarkable milestones, with a focus on people and technology.

The firm’s strategic expansion aligns with Dubai’s booming luxury market, where sales of homes over $10 million nearly doubled in 2023 to a record 431, making it the world’s largest. In fact, the agency has partnerships with nearly all the major and reliable UAE developers working in business, premium and deluxe housing development projects, including Emaar, Select Group, Damac, Dubai Holding, Aldar, Sobha, Nakheel, Ellington Properties, IMTIAZ, Nshama and MERED.

Recently, the Dubai Land Department noted an increase in non-resident real-estate investors in 2023, who made up 42% of all new investors. Globally, more than 6,000 partners are part of Whitewill’s partnership programme. Each week, they handle about 500 new inquiries from partners in the USA, Europe, Russia, and CIS countries. This network effectively connects foreign customers with Dubai’s real estate market, ensuring quick payments and high satisfaction through the agency’s trusted professionalism. Potential buyers can purchase luxury properties in Abu Dhabi and Dubai for both investment and personal use. Globally, the agency also has off-plan, secondary, rental, and commercial departments providing high-quality services for clients.

Olga Pankina, Chief Operations Officer at Whitewill Dubai, said: “We have seen phenomenal growth in the last three years in Dubai, one of the fastest-growing cities in the world for luxury real estate. As this focus market grows in the capital city, we’ve opened an office in Abu Dhabi to ensure we meet customers’ evolving expectations and provide localised services for new property destinations within the region. With UAE real estate firms targeting ultra-high-net-worth clients, we believe that for successful and efficient operations, it’s crucial to offer local guidance and the highest level of service and care.”

Whitewill distinguishes itself through a commitment to lifelong customer relationships by offering comprehensive services, including mortgages and consulting, fostering quality, respectful relationships without the need for hard selling. The company ensures operational transparency, timely payments, and clear communications with all partners and prioritises brokers’ education.

Leveraging cutting-edge technology, the agency utilises world-class marketing strategies and monitoring technology to analyse every step of the customer journey, ensuring an unmatched experience. These campaigns are targeted at High Net and Ultra High Net Worth customers globally, generating thousands of leads every month.

Looking ahead, Whitewill is set to broaden its reach within the GCC, under the guidance of its Abu Dhabi office. This strategic move has already seen the company begin property sales in Ras Al Khaimah and Oman, with plans to extend their sales operations into Qatar.

To learn more about Whitewill, visit https://whitewill.ae/

About Whitewill Real Estate Agency

Whitewill Real Estate Agency, founded in 2016 by Oleg Torbosov, has swiftly ascended as a high-end leader in the real estate market, focusing on people and technology to achieve unparalleled success. With over 500 dedicated employees worldwide, Whitewill specialises in the sales of apartments and villas within modern housing developments, particularly in Dubai, working alongside prominent developers like Emaar Properties and Damac Properties. The agency boasts over 450 residential sites in its portfolio, over 150 brokers, and a comprehensive approach that includes a unique training system for brokers, an internal quality control department, and a robust partner network of more than 6,000 agents globally. Whitewill’s commitment to innovation, quality, and customer satisfaction has positioned it as a pivotal player in international real estate, catering to high-net-worth individuals with a diverse range of services, from property sales to comprehensive after-sale support.

Real estate investing can be quite profitable, but there are risks and difficulties involved as well. To make sure your investment is a success, you need to think about a few important criteria before getting started. In this post, we’ll go over eight essential considerations for property investors, such as the significance of desirable sites and the benefits of hiring a business coach.

Property Type and Strategy: Understanding Your Investment Goals

Establishing your objectives and plan is essential before making a housing investment. Do you have an interest in either commercial or residential real estate or both? Every form of asset has pros and cons of its own. While commercial properties might generate better returns but come with extra administration obligations, residential homes offer stability and a stable rental income. It will be easier for you to make judgments and reduce your possibilities if you know what your financial plan is. In order to distribute risk and optimize returns, take into account the possibility of diversifying your portfolio by making investments in a variety of markets and asset types.

Budget and Financing: Assessing Your Financial Capacity

Since real estate investing frequently necessitates large sums of money, it’s critical to evaluate your financing choices and budget. As you assess how much you can afford to invest, take into account several aspects such as mortgage rates, down payments, and continuing upkeep expenses. Making the most of your resources can be achieved by investigating various financial choices, such as partnerships or bank loans. Make sure you have a sound financial strategy in place to steer clear of any potential traps and unforeseen costs. Additionally, to make sure your asset is steady financially, think about putting aside a contingency fund for unanticipated repairs or emergencies.

Location: The Foundation of Real Estate Investment

In the context of property investment, the proverb “location, location, location” is incredibly true. Your asset’s potential for appreciation and rental revenue is greatly influenced by its location. To ensure the highest return on your investment, you must invest in desirable areas. The close proximity to facilities, educational institutions, public transportation, and business centers is a common characteristic of prime locations. To find the best apartments for rent, focus on buildings in desirable neighborhoods that continuously draw renters and provide long-term value. Plans for urban development and newly developed areas should also be monitored because they can offer prospects for expansion and investment in the future.

Risk Assessment: Analyzing Potential Pitfalls

There are dangers associated with housing purchasing, and it’s critical to recognize and reduce them as much as possible. Make a comprehensive risk assessment, taking into account variables including market volatility, difficulties with property management, and recessions. Spreading risk in your portfolio can be achieved by diversifying it among several properties or asset types. In addition, to protect your investment, you must have a backup plan in case something unforeseen occurs. Speaking with seasoned financial advisors or real estate specialists might also be a good idea if you want to learn about industry best practices and risk management techniques.

Market Research: Staying Informed and Adapting to Trends

Because the real estate industry is dynamic and ever-changing, conducting market research is essential to making wise purchases. Keep up with the latest trends in the sector, market conditions, and rental prices in the neighborhood of your choice. You can use this information to make well-informed financial decisions and modify your plan as necessary. Attending industry events and establishing contacts with other local real estate professionals can help you succeed by offering insightful information and connections. Also, think about using technology and data analytics tools to improve your market research skills so you can make informed financial decisions.

Tax Implications: Understanding the Taxation Landscape

Investment in property involves a lot of taxation, so it’s critical to comprehend how your choices will affect your taxes. Speak with a tax professional to learn more about the tax advantages, duties, and deductions related to your assets. You may reduce your tax liability and maximize your return on investment by understanding how to take advantage of tax breaks. Remember that tax regulations are subject to change, so it’s important to keep informed and modify your investment plan as necessary. For even greater assurance of compliance and to optimize your tax advantages, think about speaking with a real estate tax specialist who is a licensed tax professional.

Property Management: The Key to Rental Success

A seamless and successful real estate transaction depends on competent property management. Choose if you want to employ a seasoned property management company or manage your properties yourself. Be ready for the duties that come with managing the homes yourself, such as collecting rent, maintaining the houses, and screening tenants. Longer leases, more rental income, and improved tenant satisfaction can all result from well-managed properties. In addition, think about spending money on tools or software for asset administration that can improve productivity and simplify your management responsibilities so you can concentrate on expanding your portfolio.

The Value of Working with a Business Coach

Making investments in housing may be confusing and daunting, particularly for first-time buyers. Think about collaborating with a business coach with expertise in real estate ownership. A business advisor may offer direction, knowledge, and a well-organized strategy to assist you in navigating the complexities of the industry. They can also hold you accountable for your activities and assist you in setting reasonable goals, which will increase your chances of success. In addition, a good coach may help you create a customized investment plan that fits your particular situation and ambitions, enabling you to make wise choices and reach your financial objectives in the property sector. Real estate investing can be a lucrative venture, but it needs to be planned ahead of time and with great thought. You can improve your chances of succeeding in the market by following the advice mentioned above. Working with a consultant can also offer you support and insightful advice at every stage of your investing journey. Never forget that developing a profitable property portfolio requires careful consideration of all options and well-informed decision-making.