Article attributed by: Sara Aji, Managing Partner of Alma Developments

Beyond The Skyline

In recent years, the Dubai real estate market has dazzled with headlines about record-breaking penthouses, ultra-luxury investments, and international capital flows. But behind the glitter, there’s a quieter story unfolding, one that I believe is equally, if not more, important to the future of the city.

Dubai is home to families, working professionals, teachers, entrepreneurs, and healthcare workers, who are looking not for a speculative asset but for a well-designed and enduring place to live. And therefore, our built environment must reflect this reality.

Wisdom In Design

As someone who’s spent the past two decades in the design and interiors space through my family business, Al Meera, I’ve seen firsthand how good design can change the way people live. But I’ve also watched with concern as investors are drawn into the return-on-investment (ROI) trap, buying off-plan homes at inflated premiums, only to discover after handover that they require significant refurbishments, lack basic storage, or aren’t fit for long-term family living. It’s a cycle that erodes value, especially for seasoned buyers who expect more from their investment.

The Real In Real Estate

When Alma Developments was launched, it wasn’t to compete in the luxury arena; it was to help fill a widening gap in the mid-market segment. Homes that are liveable from day one, thoughtfully designed, and built with long-term residents in mind are surprisingly rare in a city as advanced as Dubai. With our debut project, Alma Gardens, in Liwan, we wanted to create something different, homes that you don’t just own, but truly live in.

That starts with getting the basics right. Take storage, for example. Most Dubai apartments aren’t designed with families in mind. We’ve changed that by delivering apartments that offer up to 75% more dedicated storage space than comparable units. That’s not a gimmick; it’s a necessity, especially for families with children or multigenerational households where space matters.

From Cement To Sentiment

Layout is another area where too many developers cut corners. A one-bedroom apartment with a study can be the difference between chaos and calm for a couple working from home. Two- and three-bedroom apartments with dedicated laundry rooms and maids’ quarters provide functional zoning that allows for privacy, routine, and organisation. At Alma Gardens, these are standard, not optional extras.

But beyond design specs, the wider question we’ve been asking is, who are we really building for? There’s a growing cohort of end-users in Dubai who don’t fit the typical investor profile. They are women, they are parents, they are long-term residents who want quality without complication. These buyers aren’t interested in trophy assets; they want homes that are built to last, don’t require immediate fixes, and provide a real sense of belonging.

Local design thinking, rooted in the real needs of Dubai residents, is finally starting to shape this new wave of development. For example, at Alma Gardens, we’ve integrated rooftop wellness spaces, multipurpose fitness studios, and communal zones that foster interaction. It’s not just about amenities, it’s about lifestyle. We’ve also taken a hands-on approach to quality control. By managing the entire construction and fit-out process in-house through Al Meera, we’ve ensured that the homes we deliver are truly turnkey, with no need for post-handover patch-ups or costly upgrades. Importantly, our commitment to liveability doesn’t come at the expense of luxury; it redefines it.

Luxury In Living

We’ve selected premium materials, elegant finishes, and custom-crafted joinery that rival, and in many cases exceed, the so-called ‘luxury’ offerings that dominate the market today. For us, true luxury is not marble floors and glossy brochures; it’s about thoughtful craftsmanship, durability, and refined simplicity that make daily living feel effortless and beautiful. That’s the standard we hold ourselves to.

In parallel, infrastructure upgrades such as the upcoming Dubai Metro Blue Line extension are opening up previously overlooked areas like Liwan to residents who want better value without sacrificing connectivity. It’s a pivotal moment for smart, mid-market development in the city, and one we’re proud to be part of.

Ultimately, the conversation about real estate in Dubai needs to evolve. Luxury and high yields will always have their place. But we also need to celebrate the projects that deliver genuine value, sustainability, and liveability. As developers, we have a responsibility to stop treating housing like a commodity and start designing it like a service. Because at the end of the day, homes should be for living, not flipping. That belief, that housing is a service, not just an asset, is what will define the next chapter of Dubai’s property market.

By Sara Hoteit, Regional Sales Lead, Backbase Middle East

For decades, white-glove banking in the Middle East relied on personal trust. High-net-worth individuals (HNWIs) and family offices turned to relationship managers (RMs) for access, expertise, and discretion. However, today’s digital-first generation of clients is inheriting wealth, and they expect faster, more transparent, and more personalised service than traditional models can deliver.

Why are younger clients walking away?

Recent surveys show a dramatic shift. Capgemini reports that 81% of affluent heirs plan to change their wealth managers. The reason is not a lack of expertise, but dissatisfaction with slow, opaque, and disconnected experiences.

Traditional private banking often resembles a black box: clients see limited transparency, receive quarterly reports, and rely on infrequent meetings. In contrast, new generations want data, control, and insights at their fingertips. EY research confirms this gap, noting that only 7% of Gen Z trust bank advisers for financial guidance. Digital-first wealth platforms like Sarwa and StashAway are stepping in to meet these demands.

The human role in private banking

Despite this shift, the human element remains essential. Relationship managers still play a critical role in building trust and offering tailored advice. However, many spend most of their time on administrative tasks rather than client-facing work. McKinsey estimates up to 70% of RM time goes to back-office processes.

For banks, the solution lies in rethinking the role of advisers and empowering them with technology that eliminates inefficiencies while elevating client engagement.

Digital tools that elevate wealth management

Digitisation should enhance, not replace, personal service. Clients now expect customisable dashboards that reflect estate planning, performance analytics, or ESG-focused investments. Both advisers and clients benefit when these tools deliver real-time insights that support collaboration.

In addition, clients want flexible access to their advisers. EY notes that 85% still value personal advice, but they prefer it delivered on their terms—through secure chat, video calls, or collaborative digital platforms.

How AI empowers relationship managers

Technology can give RMs the edge they need. AI tools identify risks, recommend diversification, and flag liquidity needs. When embedded in RM workspaces, these insights keep advice timely and proactive.

Automation further reduces administrative work, allowing advisers to spend more time building meaningful client relationships. This shift restores the core value of wealth management: trust, loyalty, and personalised advice.

From products to financial journeys

Wealthy clients no longer want just products; they want holistic support. They expect advisers to guide them through succession planning, family governance, philanthropy, and alternative investments. Global disruptors like Robinhood proved how fast expectations can change, and regional players such as Baraka are echoing this trend.

Reinventing the white-glove model

Private banking is not obsolete, but it must adapt. Banks that reinvent white-glove banking for digital-first clients will combine AI-driven efficiency with human empathy. By empowering advisers, streamlining processes, and blending digital convenience with trust, banks can keep this premium model relevant.

In the end, successful institutions will prove that strong relationships, enhanced by smart technology, remain the most valuable currency in wealth management.

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MERED, the award-winning international real estate developer, has partnered with Reflex Angelo, the global Italian luxury furniture brand, to provide Pininfarina branded furniture able to enhance the one of a kind living experience at ICONIC Residences Design by Pininfarina, the developer’s flagship project in Dubai. This collaboration marks Reflex Angelo’s debut partnership with a real estate developer in the UAE.

Apartments in ICONIC Residences will feature custom-design built-in furniture by Pininfarina. As part of collaboration with Reflex, residents will have the option to complete their homes with a Pininfarina furniture premium collection, enjoying exclusive perks and benefits that bring the full Italian experience throughout their living space. Located in Dubai Internet City, the 290-metre tower will be the tallest in the area, offering 310 luxury apartments with sea views and convenient access to hotspots like Palm Jumeirah and Dubai Marina.

Reflex Angelo and Pininfarina have been collaborating since 1997, delivering masterpieces such as the Vela Armchair and the Orizzonte collection, a modular seating system that balances form and function. This long-standing relationship ensures that the optional furniture offered at ICONIC Residences reflects the same design language as the apartments themselves, creating a cohesive look throughout the home.

Michael Belton, CEO of MERED, commented: “Our partnership with Reflex Angelo is part of our goal to deliver genuine quality and design consistency and full Pininfarina experience at ICONIC Residences. We want to ensure that residents experience a fully integrated premium home, from structure to interior. As Dubai’s elite lifestyle sets new benchmarks for global luxury, our project reflects both the city’s ambition and the expectations of a global, design-conscious audience.”

Luciano Lucatello, Chairman of Reflex Angelo added: “This project stands out in our global portfolio, not only as our first collaboration with a real estate developer, but also because of the shared commitment to design integrity and material quality. Working alongside Pininfarina and MERED gives us a meaningful platform to bring our Italian craftsmanship into a market that values sophistication.”

Dubai’s luxury property market is set to outpace all others in price growth in 2025. A recent Knight Frank survey found that 69 percent of high-net-worth individuals are interested in purchasing a branded residence in Dubai, underlining strong demand for projects associated with established design and architectural firms. At the same time, the UAE’s residential market is on track to exceed $400 billion in 2025, reflecting sustained investment in high-end, design-driven developments.

As MERED expands its footprint in the Middle East, the company remains focused on delivering projects that reflect international design standards and long-term impact.