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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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BEYOND THE PRICE TAG

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Exclusive interview with Tahir Majithia, Real Estate Advisor and Founder of Prime Capital

An in-depth look at buying a home in the UAE across different luxury property segments. How are consumer patterns shifting between renting and purchasing, and what are the key considerations for buyers before they commit?

We are seeing two types of buyers at the moment. A lot of people who are new to the city prefer to rent for the first couple of years, until they have settled in and worked out where they actually want to live. Once they know the answer to that, they buy. The second group already knows Dubai well and is moving here, and they tend to arrive with a much clearer idea of what they are looking for.

What both groups have in common is that they want the best of the best, and that is true across every segment. Whether someone is buying a home at AED 5 million, AED 10 million or AED 15 million, they want the best for their money. Quality, design, layouts, facilities, amenities, all of it matters a lot today. There was a time when buyers didn’t really focus on these things and a standard product would do. Now, with the kind of money people are spending, they want something genuinely different. They want the wow factor, especially in the luxury segment.

What changes as you move up the price ladder is the definition of “best.” Around the AED 5 million mark, buyers are usually weighing up location, the reputation of the developer and how the home will hold its value if they decide to sell in a few years. By the time you get into the AED 10 to 15 million bracket and above, the conversation moves on to space, privacy, the quality of the finishing and views, and how well the building or community is actually managed once everyone has moved in.

That same expectation is now shaping the rental market too. We are seeing some very high ticket size rentals, even with the conflict going on in the region. The people who are still confident in this market and want to move here want to arrive somewhere they don’t have to do anything to, homes that are specced and fitted out to the best international standards. If it is something good, tenants are willing to spend serious money on rent, and the top of the market is now well into the millions a year.

The thing that decides it in the end is value. Prices have gone up, yes, but buyers today are smart and they know exactly what they are buying. Over the last few months in particular, people want good value for their money, so there is a lot of negotiation happening, especially given the current situation. But when the value is genuinely there, buyers move quickly.

My advice to anyone about to commit is to look past the headline price. Check what the service charges are and what they actually cover, because that cost stays with you every year. Look at the developer’s track record for delivering on time and to the standard they promised. Read the payment plan and handover terms properly. Ask how easily homes in that community resell, not just what they sell for. And add up the full cost of the transaction, not only the purchase price. Those are the things that decide whether a home still looks like a good decision five years later.

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NEVER NOT SUEDE: PUMA MIDDLE EAST LETS THE SUEDE BLOOM

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The Suede’s new era continues to blossom with the introduction of Suede Bloom, part of PUMA’s “Never Not Suede” campaign.

Following the return of the OG, this new release places the iconic silhouette back in the spotlight while celebrating the qualities that have defined the Suede since the very beginning.

One facet that has defined the Suede since its introduction in 1968 is its ability to reinvent itself alongside changing times, subcultures, and movements, all while remaining unequivocally itself. This latest release brings a unique touch to the Suede. Faux pearl detailing, interchangeable satin and frilled lace options, and soft colorways bring a refined femininity to the timeless silhouette.

Arriving in understated shades like “Powder Pink,” “Vintage Cream,” and “Black,” the release is joined with visuals that capture togetherness and individuality, pairing the Suede Bloom with whimsical styling that evokes spontaneity and lightness.

Bringing the spirit of Suede Bloom to life, PUMA Middle East has collaborated with talents including the Fawaz sisters Rania, Dania and Talia, alongside other style muses from the region. Each talent brings their own perspective and personal touch to the Suede Bloom, showcasing how the silhouette can be styled and interpreted in individual ways.

This new vision for the PUMA Suede is designed to be styled your way, while embracing the idea of blooming as both a seasonal shift and a form of personal expression.

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Inside ORLA: Beachfront Living, Composed by OMNIYAT

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ORLA, Dorchester Collection, Dubai is an iconic beachfront address bringing together exceptional design, private beach access and the legendary service of Dorchester Collection. With fewer than ten residences remaining, ORLA offers a rare opportunity to experience one of Dubai’s most distinguished waterfront destinations.

Residents enjoy an extraordinary suite of private amenities, including a 150-metre beach, infinity and lap pools, a wellness and spa retreat, fitness and yoga studios, private cinema, bowling alley and dedicated children’s spaces, complemented by the discreet, highly personalised service of Dorchester Collection.

ORLA Duplex Show Residence

An exceptional expression of beachfront living, the ORLA Duplex Show Residence unfolds across two levels, offering a remarkable sense of scale, privacy and effortless sophistication. A private lift provides direct access to the four-bedroom residence, while expansive living and entertaining spaces extend towards generous private terraces and a private pool overlooking the tranquil lagoons of Palm Jumeirah.

Crafted by OMNIYAT Atelier, the interiors bring together sculptural forms, refined natural materials, bespoke detailing and a curated selection of art, creating a layered residential experience where design, craftsmanship and indoor-outdoor living converge. Every element has been thoughtfully composed to create an atmosphere of timeless elegance, privacy and exclusivity.

ORLA Simplex Show Residence

Bathed in natural light and framed by panoramic views of the Arabian Gulf, the ORLA Simplex Show Residence unfolds across a single level, creating an effortless continuity between its interiors and the world beyond.

Accessed by private lift, the four-bedroom beachfront residence is distinguished by an impressive double-height living space, bringing exceptional volume and openness to the heart of the home. Crafted by OMNIYAT Atelier, sculptural forms, natural materials, bespoke detailing and a carefully curated collection of art come together throughout, while expansive living spaces extend towards a private terrace and pool.

Ocean horizons frame the residence, creating a profound connection to its beachfront setting and a serene expression of contemporary living.

For high-resolution Images: https://www.dropbox.com/t/qRxs5y7adDhAMbEM

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