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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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ARABIAN ACRES DELIVERS LANDMARK AED 400M COASTAL LAND ACQUISITION, SETTING NEW RECORD FOR RESIDENTIAL LAND TRANSACTIONS IN THE UAE

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Arabian Acres, a Dubai-based luxury real estate brokerage and development advisory firm specialising in super-prime residential and commercial transactions, has concluded the acquisition of three adjacent freehold plots in Jumeirah Coastline for a collective value of AED 400 million (approximately USD 109 million). The deal represents one of the most significant private coastal land assemblies in Dubai and marks the largest residential land transaction completed in Dubai.

This transaction comes at a time when global capital is increasingly seeking resilient, well-regulated markets. The UAE’s policy stability, strong governance and long-term growth fundamentals continue to reinforce its position as a preferred investment destination

“Large-scale land acquisitions of this nature reflect steady institutional and private wealth confidence in the UAE’s regulatory transparency, economic resilience, and long-term growth trajectory. Sustained capital inflows into Dubai’s prime and super-prime real estate segments continue to reinforce the UAE’s position as one of the world’s most stable and resilient investment destinations. At Arabian Acres, our role goes beyond brokerage. We work closely with local & international clients to navigate and execute complex, high-value opportunities in Dubai’s evolving real estate market.” Issa Atiq, CEO, Arabian Acres.

The consolidated landholding spans over 113,000 sq. ft, with a stretch of 160 metres of private beachfront along the Arabian Gulf, forming one of the last remaining contiguous coastal development opportunities of this scale in the Emirate. The transaction was completed in March 2026 and registered through the Dubai Land Department as three coordinated unit transfers. Arabian Acres structured, sequenced, and executed the entire acquisition, acting as exclusive broker for both buyer and seller. 

The combined site is projected to deliver a gross development value exceeding AED 1 billion, driven by its extreme scarcity, scale and the planned integration of Dubai’s only residential land opportunity combining private beach access with a dedicated residential yacht marina. The development will comprise three ultra-luxury villas, each with direct beachfront access and private marina docking.

According to Dubai Land Department data, the three plots have appreciated between 255% and 335% over the past three years, underscoring both the scarcity of prime coastal land and the sustained demand for ultra-luxury residential assets. As contiguous beachfront plots become increasingly rare, structured land assemblies are expected to diminish further, amplifying the strategic significance of this transaction.

“This was a tightly structured transaction that required all three plots to move together. The window to secure this site was exceptionally narrow, as these were the last adjacent beachfront plots of this scale. Once developed, this combination of site, beach and planned marina access will be exceptionally difficult to replicate, making this one of the most strategically significant land transactions we have led to date” Added Issa Atiq.

While global markets continue to navigate heightened uncertainty, the fundamentals underpinning Dubai’s investment appeal remain firmly intact. Finite by nature and impossible to replicate, prime beachfront and waterfront land continues to attract significant capital from ultra-high-net-worth investors seeking long-term value, stability and asset security. Supported by strong regulatory frameworks, freehold ownership protections, RERA oversight and long-term economic planning, Dubai continues to reinforce its position as one of the world’s most transparent and resilient real estate markets.

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WESTERN FURNITURE EXPANDS PORTFOLIO WITH NEW BRANDS ‘CIERRE’, ‘ZANOTTA’, AND ‘DESALTO’

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While Showcasing Global Partnerships at Salone del Mobile 2026

Western Furniture Brands, one of the UAE’s leading luxury home and lifestyle retailers in UAE, recently captivated attendees at the prestigious Salone del Mobile 2026 in Milan, the world’s most prestigious design and furniture exhibition. Renowned as a global benchmark for innovation and craftsmanship, the annual event brings together the industry’s most influential brands and design visionaries.

Marking a significant milestone in its growth journey, Western Furniture announced the acquisition of ‘Cierre’, ‘Zanotta’, and ‘Desalto’, the newest addition to its distinguished portfolio in the UAE. This strategic expansion reflects the company’s continued commitment to curating world-class brands and elevating the region’s luxury interiors landscape.

With a rich and diverse portfolio, Western Furniture proudly represents some of the most renowned names in international design, including Tonin casa, Tomasella, Draenert, Cierre, Natuzzi italia, Unopiù, Miniforms, Calligaris, Adriani rossi, and Reflex , each embodying excellence in craftsmanship, innovation, and timeless aesthetics.

A key highlight of this year’s participation was Natuzzi Italia, exclusively represented by Western Furniture in the UAE for over 15 years. The brand, which operates a flagship store in Dubai, showcased its latest collections, reaffirming its leadership in contemporary Italian design.

Mr. Mikdad Babhrawala, CEO of Western Furniture LLC, expressed his pride in the longstanding partnership, emphasizing its strength and continuity. He noted that Natuzzi Italia, as a globally recognized brand with a rich heritage, has maintained a strong and enduring presence in the UAE market for many years.

Mr. Mikdad continue “the presence of our brands at Salone del Mobile reflects our long-term vision to continuously bring the finest global design experiences to the UAE. The addition of ‘Cierre’, ‘Zanotta’, and ‘Desalto’,  to our portfolio marks an exciting new chapter, reinforcing our commitment to innovation, exclusivity, and growth. We take great pride in our enduring partnerships with globally respected brands like Natuzzi Italia, which have played a pivotal role in shaping the luxury interiors landscape in the region.”

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MILANO BY DANUBE INTRODUCES “GLOBAL DIRECT” STRATEGY AT CANTON FAIR AMID GLOBAL SHIPPING UNCERTAINTY

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Milano by Danube, a leading global lifestyle and home solutions brand, has introduced its new “Global Direct” logistics strategy at this year’s Canton Fair, responding proactively to ongoing geopolitical tensions and disruptions across key shipping routes impacting global trade. Global Direct model stands as the most agile logistics strategy that allows the brand to ship products directly from its international hubs to partners across global markets and bypass traditional transit routes.

The move comes at a time when conflict-driven disruptions across major shipping corridors have created delays, rising freight costs, and operational uncertainty for businesses that rely heavily on conventional shipping networks. Recognizing the urgency of the situation, Milano has adapted quickly by restructuring its supply chain model to ensure uninterrupted deliveries for its partners worldwide.

Through its Global Direct approach, orders placed at Canton Fair are fulfilled directly from Milano’s global hub in China and routed straight to destination markets, eliminating dependency on congested Middle Eastern transit points and significantly reducing delays which will ensure faster and more reliable deliveries.

Speaking about the strategy, Mr. Sahil Sajan, Director of Milano, said, “The current global environment has made businesses rethink how they operate and move products across borders. We recognized early that waiting for traditional shipping channels to stabilize was not an option. Our Global Direct model ensures that our partners continue receiving products on time while maintaining cost efficiency and supply continuity.”

Milano’s presence at Canton Fair received an overwhelmingly positive response from international traders, distributors, and partners who are increasingly exploring alternative logistics solutions to sustain their businesses amid growing uncertainty.

The company observed a significant shift in conversations at the event, with traders from across regions actively seeking dependable alternatives to conventional shipping routes in order to avoid prolonged delays and operational disruptions.

Despite ongoing geopolitical challenges, this year’s Canton Fair witnessed remarkable global participation. The event remained as vibrant and crowded as ever, drawing visitors, buyers, and business leaders from across Asia, the Middle East, Europe, Africa, and beyond, underscoring the resilience of global trade and the determination of businesses to adapt.

Mr. Anis Sajan, Vice Chairman of Danube Group, added, “What stood out at Canton Fair this year was the resilience of global businesses. The fair was packed with buyers from around the world, and a common concern among many was finding faster, more reliable ways to keep their businesses operational. Our Global Direct strategy directly addresses that need and positions Milano as a reliable partner during uncertain times.”

As businesses continue to navigate an evolving global trade landscape, Milano’s strategic shift reflects its commitment to innovation, adaptability, and ensuring that partners remain competitive regardless of external challenges. With Global Direct now in motion, Danube Group’s Milano is reinforcing its position not just as a leading lifestyle and home solutions brand, but as a business partner equipped to solve modern supply chain challenges.

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