Shaun Killa, a veteran of Dubai’s architecture sector and designer of the Museum of the Future, has been appointed as lead architect for the projects
AHS Properties – the luxury real estate company owned by entrepreneur Abbas Sajwani – has added two more projects to its portfolio, bringing the company’s gross development value to US $550mn (between projects sold and under development).
Specialising in selling premium high-ticket properties, AHS Properties acquired two low-rise apartment building plots – one in Palm Jumeirah and another on Dubai Canal. The buildings – both nine stories high – will contain 25 penthouses and sky villas, offering residents exclusivity and privacy. The projects will feature state-of-the-art spas private cinemas, cigar lounges and private swimming pools on all balconies, a statement from AHS Properties said.
Shaun Killa, from Killa Design, a veteran of Dubai’s architecture sector and designer of the Museum of the Future, has been appointed as Lead Architect, the firm pointed out.
AHS Properties entered the Dubai real estate market in November 2021 with a total asset value of more than $100mn, comprising four luxury properties in the Palm Jumeirah and Emirates Hills. Since then, the company notes that it has sold three villa projects on the Palm, with a combined value of more than $75mn.
With Dubai’s ultra-prime residential properties seeing strong demand, as investors look to invest in the emirate’s niche housing segment, prices are being pushed on the higher side by at least 15% this year. Leading property consultants have also noted that the demand for the city’s most desirable neighbourhoods, combined with restricted supply, is driving the record price growth.
Middle East Construction News (MECN) spoke to Abbas Sajwani ahead of the announcement to discuss his thoughts on AHS Properties’ performance over the last year, and understand how the company intends to position itself within an increasingly competitive market space.
- Following the launch of AHS Properties in 2021, what has been the response to the company’s offerings?
AHS Properties was established in early 2021 with an impressive development value of $115mn. This has now grown to more than $500mn. I am extremely proud of what we have been able to achieve in such a short period of time.
Our properties do not sit on the market very long because we are offering premium mansions to a niche market. Our customers know what they want and have the resources to snatch up properties quickly. We will continually add projects to the AHS portfolio, and you will hear about our new acquisitions before the year’s end.
- How does AHS Properties differentiate itself in the market space?
I bring on board the best of the best in the industry, from world renowned architects, designers, and brands to give AHS products an edge in the market.
Also, aside from the traditional luxury property areas such as Palm Jumeirah and Emirates Hills— AHS also has a new property along the Dubai Canal. We continue to give luxurious options for our clientele who are looking for a premium product but with stunning city views.
- What are the company’s plans for 2023 and what’s in the project delivery pipeline?
We have taken on two new product launches with our low-rise buildings on Palm Jumeirah and Dubai Canal and will be ready for the market by December 2024 with a GDV of $400mn. The exclusive projects each will have 25 sky villas and penthouses with incomparable city views.
- With regards to the project launch – what sort of response do you anticipate for the project?
We have already received a lot of interest in these properties. The market is ripe for luxury property sales as high-net-worth individuals from around the world are looking to buy a second home in Dubai.
We also have clients who have bought properties from AHS and are referring others to our brand because they are happy with the product and the premium offerings that AHS offers.
- How will this project establish AHS’ Properties brand in the market?
This will really set us apart from our competition with Shaun Killa as Lead Architect and with interior designs by 1508 London and Hirsch Bedner Associates. Already, we have disrupted the luxury property market and more and more people are taking notice of AHS Properties.