Richmind, a premium developer specialising in ultra-luxury real estate projects and a flagship business vertical of Richmind Holding has announced the complete sell-out of Phase 1 of its flagship development, Oystra, located on Al Marjan Island. Following an unprecedented response from buyers and investors, the developer has launched Phase 2, which is now open for sale.

Designed by the visionary Zaha Hadid Architects (ZHA), marking the firm’s first residential development on Al Marjan Island, Oystra by Richmind has witnessed exceptional demand from overseas markets. Data from Phase 1 reveals that over 50% of buyers hail from Europe, underscoring the project’s appeal to sophisticated global investors. Significant interest was also recorded from key markets including the USA, Canada, China, Australia and Turkey. As part of Phase 2, Richmind also teased the upcoming release of limited edition ultra-luxury penthouses. Expected to list for around AED 75 Million, these exclusive residences will set a new benchmark for pricing and exclusivity on Al Marjan Island.

To celebrate this milestone, Richmind hosted a spectacular Phase 2 launch event on January 27th at Ain Dubai. The evening was headlined by world-renowned DJ Shimza, who curated an immersive sonic experience for a select guest list of investors, dignitaries, and industry elites, mirroring the avant-garde spirit of the Oystra development.

Mohammad Rafiee, CEO of Richmind, commented, “The sell-out of Phase 1 is a resounding validation of our vision to bring art into living. Oystra has resonated deeply with the international community, particularly those in Europe who value the fusion of iconic Zaha Hadid architecture with functional luxury – at an evergrowing lifestyle destination like Al Marjan Island. Our Phase 2 launch will see even more exclusivity, premium offerings and limited edition homes, setting this new standard of UAE living to the world. The interest from global investors to buy property in the UAE is a trend we will continue to cater to. Our recent expansion into China with a sales office in Shanghai and our collaboration with Harrods in London in February are strategic steps to be closer to our global clientele.”

Responding to this global appetite, Richmind has expanded its presence in key global markets, with the recent opening of a sales office in Shanghai, to serve Far Eastern investors. Furthermore, Richmind is bringing Oystra directly to European investors through a series of high-profile roadshows scheduled for February, including stops in Manchester, Hamburg, and an exclusive showcase at Harrods in London.

The stunning development offers residents access to over 50 world-class amenities, including a 150-metre crystal-clear lagoon, a branded Luxe European spa, dedicated yoga pavilions, and a state-of-the-art golf simulator, collectively designed to elevate the living experience. Richmind will also be announcing a collaboration with a luxury hospitality brand this year, bringing curated serviced residences and exclusive high-end F&B offerings to the community.

The crown jewel of the development’s leisure offerings is Ras Al Khaimah’s first and only 360° infinity pool, offering some of the most dramatic views on Al Marjan Island. This is complemented by a world-renowned Beach Club and a dedicated 24-hour, 5-star concierge service, ensuring a hotel-standard lifestyle for all residents.

Christos Passas, Director of Design at Zaha Hadid Architects, added, “With Phase 2, we continue the narrative of fluid elegance. The architecture of Oystra is designed to engage with the elements,the sea, the wind, and the light. We are thrilled to see how well the design has been received globally. It confirms that there is a universal language for beauty and innovation, and we look forward to seeing this second phase come to life, offering residents a spatial experience that is both grounding and limitless.”

During the launch event, Richmind also took the opportunity to recognize its top-performing partners, presenting awards to key brokers who played a pivotal role in the success of Phase 1.

As construction progresses toward the 2029 handover, Oystra continues to embody Richmind’s vision for design-led, artful living that enhances the UAE’s coastal landscape while delivering lasting value for residents and investors. Operating across the UK, Germany, China, and the UAE, Richmind Holding is well positioned for continued international growth in the year ahead.

One of India’s leading real estate developers, Casagrand, has officially broken ground on Casagrand HERMINA, a premium residential development that marks Casagrand’s eagerly awaited expansion into the Middle East.

Located on the rapidly transforming Dubai Islands and valued at AED 420M, Casagrand HERMINA blends coastal serenity with city living. A place where the calm of the sea meets the dynamism of Dubai, Casagrand HERMINA provides residents a lifestyle that balances retreat, tranquility, and connection. Dubai Islands is one of the fastest-growing areas in Dubai, recording a 156 per cent increase in transaction volumes in 2025, reflecting strong and rising demand for premium residential properties.

Casagrand HERMINA comprises 131 residences, with prices starting from AED 1.92 million and a 60/40 payment plan. Designed by Casagrand’s in-house architectural team, with experience delivering homes for over 55,000 families, the development brings together efficient layouts, practical design and a community-led ethos, offering considered living in one of Dubai’s most promising waterfront destinations. The project is also ideally positioned for buyers seeking a second home in Dubai, offering a premium lifestyle, long-term residency options, and attractive investment potential in a growing market.

Arun Mn, Founder and Managing Director, Casagrand, said: “The groundbreaking of Casagrand HERMINA marks a defining moment for us and the first milestone of our journey in the UAE. This expansion reflects not only our growth strategy, but our confidence in bringing a level of design, quality and delivery that exceeds global benchmarks.

“Casagrand HERMINA represents what we stand for: thoughtful planning, liveable design and trust built over time. For over two decades, families have entrusted us with one of the most important decisions of their lives and we look forward to carrying that responsibility forward for generations to come in the UAE.”

Designed to reflect a forward-looking approach to seaside living, the project features open-water views and sweeping vistas across the Dubai and Sharjah skylines. Signature double-height balconies frame panoramic views of the waterfront, Burj Khalifa and the Creek, bringing light, openness and a seamless connection between city and sea.

Luthfullah K, Director, Dubai, Casagrand, said: “Casagrand HERMINA reflects our long-term commitment to the UAE and our confidence in its evolving residential landscape. Located in a destination that mirrors both our ambition and values, this development builds on our global experience and sets the foundation for what we plan to deliver in the market. With construction now underway and completion on track for Q2 2028, Casagrand HERMINA is only the beginning.”

Founded in 2003, Casagrand brings over 22 years of excellence and a portfolio of 160+ residential ongoing & completed projects across India to the UAE. Renowned for its disciplined approach to planning, execution and delivery, the developer enters the Dubai market with a proven track record that distinguishes it from new and emerging players.

Casagrand remains focused on long-term growth in the UAE and is actively evaluating land parcels across major masterplans and emerging communities. Over the next three years, the developer plans to deliver more than 6 million sq. ft. of premium residential and mixed-use developments that continue to showcase Casagrand’s  design intelligence, build quality and modern, lifestyle-led approach to urban living.

Have you ever wondered why real estate commissions never seem to change? In the UAE, agent commissions are typically 2 percent of a property’s price and up to 5 percent of rental value. In many other countries, it’s the same story — commissions are generally fixed, without regard to the quality of the property, its size and value, or even the quality of service.

Is this a fair deal? Opinions may differ, but over the years many experts have often cited this practice as one of the enduring inefficiencies and limitations of the developer–agent–buyer chain. Traditionally, in this model, buyers make decisions largely based on what is presented to them by intermediaries, while developers rely on the same agents to gather market feedback. One party, the intermediary, acts as gatekeepers of the flow of information, and consequently holds more insights than both developers and buyers.

Analysts say this set-up has led to information frictions in the market, a term they use to describe information that is imperfect, costly, or asymmetric. It’s a system prone to distortions, delays, and inefficiencies that ultimately result in mispricing, misaligned offerings, slower feedback, and missed market insights.

But for years things have remained largely unchanged. Amid one of the real estate market’s most dynamic phases, we would be tempted to think otherwise — that the conditions for change have never been stronger. In Dubai, the property market reached a value of AED 761 billion in 2024, shattering records according to the Dubai Land Department. The entire city is buzzing with new projects, including a much-awaited third metro train line. But as they say, developers build quickly yet adapt slowly.

So while we’re seeing skylines transform at breathtaking speed, many business practices, e.g. how properties are marketed, sold, and priced, have largely remained the same. Pricing structures and commission models have been left untouched. Countless studies have exhaustively discussed why this is so, e.g. the real estate and construction industries being historically change-averse. The usual excuses: they’re asset-heavy, heavily regulated, and have a strong reliance on long-standing relationships and legacy processes.

But change is becoming a competitive necessity. While maintaining the status quo preserves certain best practices, the conventional developer–agent–buyer set-up has also entrenched inefficiencies that no longer serve today’s developers or buyers. Breaking the status quo means rethinking how knowledge moves through the property value chain. But who will take the first step?

Direct-to-owner model

Disintermediation, the process of removing middlemen between developers and buyers, is an alternative approach that overcomes many of these inefficiencies. From the outset, this model is seen to greatly benefit real estate consumers as it completely removes the need for agent commissions. But developers and many individual home sellers also stand to gain from engaging directly with homebuyers as it gives them complete control over the sales process and market data – two critical factors for maintaining a competitive edge in a rapidly evolving market.

This is not a totally new concept. Disintermediation was coined in the 1960s when consumers started to invest directly in securities such as stocks, bonds, hedge funds, and mutual funds, instead of depositing their money in banks. Technology was key to unlocking this shift, not just in finance but in other industries such as real estate.

In the age of the internet and artificial intelligence, disintermediation has taken on a far more practical and transformative role, particularly in real estate. The modern buyer’s journey increasingly begins, and many times ends, online, with AI influencing every stage. In fact, the UAE has now achieved 100% internet penetration, according to a report by the Telecommunications and Digital Government Regulatory Authority (TDRA), effectively making online platforms a default starting point for most property seekers.

Meanwhile, there has been a big shift in the homebuyer profile towards a younger, more tech-savvy generation. The average age of homebuyers has significantly dropped from 53-54 in 2017 to 42-44 in 2025. Moreover, 36-45-year-olds now account for up to 40% of off-plan sales and 44% for ready and re-sale transactions. An even younger cohort, the 21-25 age group, is becoming increasingly active in the property market, buying 38.6% and 33.3% more off-plan and ready property, respectively, over the previous year.

This shows a clear shift in who is buying as well as in the potential of data-driven and algorithm-assisted decision-making as younger real estate consumers increasingly turn to online platforms to buy and gather insights. Yet, in the traditional developer–agent–buyer chain, that data, enriched with AI insights on buyer behavior and preferences, is filtered through layers of intermediation before reaching the developer.

Giving back control to those who create value

Direct-to-owner platforms are now changing that dynamic entirely. Instead of relying on agents to interpret the market, developers and sellers can engage directly with their customers, gaining complete visibility and control over their data and customer interactions. They see first-hand how buyers respond to pricing, visuals, and messaging, and can adjust their strategies accordingly in real time. In our experience at Gllit, a direct-to-owner property listing platform, the efficiencies gained from direct customer engagement are significant — giving developers and sellers critical customer insights that allow them to respond faster to trends and design more inclusive, market-aligned projects and strategies.

Disintermediation is ultimately about restoring balance in the flow of information and of the real estate transaction process. Developers gain agility and data ownership, while buyers benefit from transparency and fairer pricing. In the age of the internet and AI, platforms that allow direct engagement with buyers offer a practical and more efficient alternative to the conventional model that puts control, data, and insight back into the hands of those who create real value.