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Prospect Signs Strategic Partnership with Mulk Properties and OBG for The LX

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Mulk Properties

Prospect has entered into a strategic partnership with Mulk Properties. The partnership signed is to formalise the development of The LX, valued at AED 350 million, located in the heart of Arjan. The strategic collaboration also brings together One Broker Group, an award-winning, developer-focused real estate agency in Dubai, as the exclusive sales partner for the project.

This landmark agreement marks a significant step toward reshaping Dubai’s commercial property landscape, with the signing ceremony held on 7th May at MayaBay, Jumeirah Al Naseem, Dubai. In 2024, the Dubai commercial property market recorded a 24% jump in growth, with almost 3,000 office units sold, with transactions valued at AED 89.9 Billion*. This double digit YoY growth pattern is expected to continue with more and more companies registering with Dubai Chamber of Commerce and the lack of office spaces to meet this demand.

Dubai’s commercial real estate market is experiencing dynamic growth across all sectors. The city’s strategic location, business-friendly policies, and infrastructure developments continue to attract global investors and companies, positioning Dubai as a leading commercial hub in the region. According to the UAE Commercial Construction Industry Report of 2025, the sector was valued at AED 156 billion in 2024 and is projected to reach AED 207  billion by 2030, reflecting robust growth with a compound annual growth rate (CAGR) of 4.7%**

“At Prospect, we are proud to partner with Mulk Properties — the real estate development arm of the global conglomerate Mulk International, known for their innovation, scale, and leadership across businesses across 4 continents,” said Rohit Verma, Co-founder of Prospect. “Our vision aligns deeply with our partners and together we want to create purpose-built, high-performance workspaces that cater to the next generation of business owners. Arjan is one of the most exciting emerging districts in Dubai today, with a steady pipeline of residential and hospitality developments. We will now bring a unique aspect to the real estate landscape of Arjan with our commercial development catered to a huge market gap for offices and retail spaces. Its central location near major highways, established communities, and key business zones makes it an ideal destination for a future-forward commercial asset. We believe The LX will become a signature address for modern businesses in Dubai and we look forward to this journey with Mulk Properties.”

“It is indeed our pleasure to partner with Prospect as we continue to expand our unique real estate portfolio. After Zim Cyber City, our state-of-the-art mixed-use development in Harare, Zimbabwe and the sprawling  Ajman Sports Complex spread across 1 million square feet, we are excited to explore the Dubai commercial real estate market, which is growing exponentially,” said Nawab Shaji Ul Mulk, Chairman of Mulk International. “With Prospect’s strategic involvement, we are confident that our upcoming project The LX will become a destination of choice for forward-thinking entrepreneurs, retailers, and investors looking for both prestige and practicality.”

Umar Bin Farooq, Founder & CEO of One Broker Group (OBG), added: “We are proud to lead the sales on this landmark project. The LX represents the future of commercial developments, where design meets function, and where businesses can thrive. Arjan’s growth trajectory and connectivity also make this a project of incredible promise. At OBG, we’ve successfully transacted over AED 7 billion in residential sales. We believe this sector is primed for strong demand—especially in underserved locations like Arjan. Businesses are looking for elevated, flexible office environments, and The LX delivers exactly that. With its premium finishes, retail integration, and F&B offerings, it will offer a complete ecosystem for both investors and end users.”

Designed to meet the evolving demands of modern businesses, The LX will feature 71 boutique office and spacious retail units. With generous balconies, refined finishes, and a dedicated F&B hub, the project balances clean, modern design with practical commercial functionality. The development is currently in the off-plan stage, with a targeted handover in Q1 2027. With seamless access to Sheikh Zayed Road, The LX enjoys unparalleled connectivity and visibility, making it an ideal business address in a rapidly expanding community.

The project also aligns with Prospect’s long-term strategy of investing in future-ready, design-led developments with high growth potential across Dubai. This partnership further cements Mulk Properties’ commitment to diversifying its real estate portfolio in the UAE, while reinforcing Prospect’s growing reputation for identifying and enabling landmark investments in emerging neighborhoods.

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Liwan Real Estate Development announces landmark partnerships at Cityscape Global 2025, making its model for living a reality

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Liwan Real Estate Development, one of Riyadh’s leading mixed-use property developers, concluded its participation at Cityscape Global 2025 as a Platinum Sponsor, after announcing two strategic partnerships that signal the next phase of its evolution as a developer of human-centric, mixed-use developments supporting the capital’s urban transformation.

During the four-day event at the Riyadh Exhibition & Convention Centre (Malham), Liwan signed memorandums of understanding (MoUs) with Unified Asset Property Management (UAPM) and STAY, two industry leaders whose expertise will underpin the delivery of Livein Liwan into a flagship mixed-use community. Upon completion, Livein Liwan will encompass 616 units – 470 of which are residential – bringing together residential, commercial, office, and leisure space in a holistic development that blends Salmani design with modern convenience in the heart of Riyadh.

Liwan’s collaboration with Unified, one of the Kingdom’s major retail facilities managers with over 5 million sqm under management, will enhance Livein Liwan’s ample, walkable spaces with curated lifestyle amenities that add leisure and convenience to daily life for residents and visitors alike.

The company’s partnership with STAY on Livein Liwan represents a major step toward establishing high-standard, long-term leasing models for serviced apartments in Building B3. STAY brings proven operational expertise and strong tenant-market performance, in addition to round-the-clock maintenance services, smart-home technologies, and other leading solutions that ensure the highest levels of operational excellence.

“In addition to serving as a platform to demonstrate our bold vision for human-centered, multiuse community living in the Saudi capital, there is no better venue than Cityscape Global 2025 to announce the strategic partnerships helping us see our vision through to fruition,” said Abdulrahman bin Saud Aldhyem, CEO of Liwan Real Estate Development. “Thanks to partnerships like these, Liwan is en route to delivering one of Riyadh’s most exciting developments.”

Further underpinning meaningful progress on Livein Liwan, it was also announced that the development has reached 50% overall completion, with 100% of structural works built, finishing works underway, and 4 million safe working hours logged. The project remains on track for its Q4 2026 completion, when it will welcome residents to a fully integrated community, offering residential, retail, and hospitality.

As seen at Cityscape Global 2025, Liwan is rapidly advancing to the next phase of project execution by turning the next generation of mixed-use urban communities from concepts into living ecosystems.

Reflecting Vision 2030’s goals, Liwan continues to champion a model of urban development that blends innovation, design excellence, and community value creation. With more than 3,000 residential units currently under development and a target of 10,000 units by 2030, Liwan is helping drive Riyadh’s transformation into one of the region’s most livable cities, in-line with the social and economic goals of Vision 2030.

Through its participation at Cityscape Global 2025 and beyond, Liwan continues to engage with investors, partners, and industry leaders to explore new opportunities and share ideas that will shape the future of real estate in Riyadh and Saudi Arabia. One of these was the announcement of the launch of its Liwan Najd development, a 2,500-unit mixed-use project in Granada District, which has now reached the design concept stage.

 

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IKEA OPENS NEW STORE IN AL AIN, BRINGING AFFORDABLE AND SUSTAINABLE HOME SOLUTIONS TO THE COMMUNITY

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Group of business leaders and dignitaries, including men in suits and traditional white robes, cutting a blue and yellow ribbon to celebrate a store opening

IKEA, operated by Al-Futtaim, has officially opened its newest store at JIMI Mall in Al Ain, marking a key milestone in the brand’s ongoing expansion across the UAE. The new location offers customers a memorable shopping experience, reinforcing IKEA’s commitment to providing functional, affordable and modern home furnishing solutions to customers across the Emirates.

The opening was inaugurated by Vinod Jayan, Managing Director of IKEA UAE, Qatar, Oman and Egypt, who commented on the milestone, saying: “Our move to JIMI Mall in Al Ain is a significant step in our mission to make quality and sustainable home furnishings more accessible to people throughout the UAE. Dedicated to enhancing the shopping experience, we’re excited to better serve our customers and continue providing affordable solutions that enhance everyday life.”

A new go-to hub for everyday inspiration and convenience

The new store, the fourth of its kind in the UAE following successful smaller-format launches in Fujairah, Al Wahda Mall and Dalma Mall in Abu Dhabi, offers a more compact and customer-focused shopping experience, spanning 8,200 square meters. The store features tailored offerings to meet the tastes and preferences of Al Ain’s residents, including room settings inspired by the local lifestyle and culture.

The thoughtfully designed layout features both the IKEA market hall and showroom area, offering a curated selection of 3,500 products for immediate purchase, alongside a visually engaging environment with over 4,300 items on display – all designed to reflect real-life living spaces and everyday needs. The store also features over 600 lowered price items and more than 200 pieces of furniture available for immediate take-away.

Sustainable home furnishings tailored to local tastes

Many of the items on display feature sustainable materials, reflecting IKEA’s commitment to eco-conscious living. The store has fulfilled the requirements of the LEED green building rating system and received Gold certification from the US Green Building Council, recognising its sustainable interior design and construction, including reduced energy consumption, water savings and improved air quality. It is powered entirely by renewable energy from EWEC.

Jayan added: “Sustainability remains at the heart of everything we do, and this store reflects our commitment to minimising our environmental footprint while delivering exceptional value. With a spacious layout, an expanded product range and a focus on eco-friendly solutions, we aim to offer great value, leading the way in creating a more responsible and affordable home furnishing industry that benefits every household in the UAE.”

The new IKEA Al Ain store empowers customers to make small, more sustainable everyday changes: create less waste, use less water and energy, reduce single-use items, and love their products for longer.

The IKEA dining experience

Customers in Al Ain can also look forward to visiting the IKEA Restaurant, Bistro and Swedish Food Market, offering a menu that combines Swedish dishes, international flavours and sustainable options including plant-based meals, ASC-certified salmon and UTZ-certified coffee. The Restaurant and Bistro together provide seating for over a hundred guests, with the Bistro featuring a convenient self-serve kiosk. Both the Bistro and Swedish Food Market have dedicated check-out counters to ensure a seamless dining experience.

Commitment to inclusion, equality and affordability

IKEA prides itself on creating a diverse and inclusive workspace, maintaining a near-equal gender ratio among its employees. The store exemplifies IKEA’s democratic design principles, ensuring that well-designed, functional and sustainable products are accessible to everyone.

Comprehensive services for a seamless experience

The new store offers a range of services designed to enhance the IKEA experience, such as Interior Design Services, Assembly, Delivery, Kitchen Services, Installation Services, Measuring Services, Gift Cards, as well as dedicated parking for the Click and Collect service.

IKEA strives to enhance the retail experience at its new location to become an integral part of the Al Ain community, welcoming residents with inspiration, value and practical solutions to enhance their homes and everyday living.

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NEATSMITH OPENS ITS FIRST INTERNATIONAL SHOWROOM IN DUBAI

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Neatsmith luxury bespoke fitted wardrobe with LED lighting, organized clothing, shoe storage, and handmade wooden finishes in Dubai showroom

Luxury British wardrobe specialist Neatsmith proudly announces the opening of its first international showroom in Dubai, UAE, marking a major milestone in the brand’s global expansion. Renowned across the UK for its handmade, fully bespoke fitted furniture, Neatsmith is celebrated for its uncompromising craftsmanship, timeless design, and white-glove service from concept through to installation.

The new Dubai showroom offers a one-of-a-kind destination for discerning clients seeking tailored wardrobe and living solutions that combine functionality with refined elegance. Designed to reflect the brand’s London heritage while embracing Dubai’s modern luxury aesthetic, the space showcases Neatsmith’s most sought-after collections – including the Decorative Glass and Castille ranges, both debuting for the first time in the region.

Each piece is designed and manufactured entirely in-house in Neatsmith’s factories in the UK, ensuring exceptional precision and quality control at every stage. Unlike other brands, Neatsmith does not subcontract the fitting of its product or employ freelance sales teams, thus being able to offer clients a seamless and personalised experience throughout their journey.

“Dubai is a natural next step in Neatsmith’s expansion, a city that shares our passion for innovation, craftsmanship and luxury living. Our new showroom reflects everything Neatsmith stands for: meticulous detail, timeless style and a truly personal service. We look forward to creating spaces that embody our clients’ individuality while upholding the quality and service that define Neatsmith,” says Philipp Nagel, CEO of Neatsmith.

Affectionately referred to by clients as “The Bentley of Wardrobes,” Neatsmith has become the brand of choice for those who value understated luxury and enduring design – including a host of notable public figures and design aficionados who trust Neatsmith to craft their most personal spaces. The brand’s craftsmanship has attracted an impressive clientele, having created bespoke wardrobes for actors, musicians, footballers and even Royalty.

With this international debut, Neatsmith continues to redefine luxury living through handmade craftsmanship, bespoke design and exceptional service – bringing over two decades of expertise to one of the world’s most design-forward cities.

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