K-Mavins Group Completes $109 Million Residential Development in Dubai

The upscale residential development Terrases Marassi Drive, situated in Dubai’s Business Bay, has been successfully turned over, according to a statement released by the UAE-based business K-Mavins.

In addition to the magnificent views of the Burj Khalifa and Dubai Canal, Terrases Marassi Drive, an AED 400 million ($109 million) property, offers a variety of exclusive amenities created with the highest standards of quality and elegance.

These include of ice rooms, oxygen rooms, Himalayan salt rooms, private pools, and a fully furnished fitness center.

Munther Al Ali, the chairman of the K-Mavins Group, spoke at the event and stated that the company’s investments in the UAE have grown to around AED1 billion ($272 million) in the last three years, indicating growing trust in the Dubai real estate market.

“Dubai’s real estate market has experienced remarkable growth in the early months of 2024, solidifying the emirate’s position as a global investment destination. Reports indicate a 12% increase in total property transactions compared to the same period last year,” he stated.

Al Ali stated that it will shortly begin a new project in Al Jaddaf, which will require an expenditure of AED 340 million ($92.5 million), as part of its development plans. In the fourth quarter of 2027, it will be prepared.

In keeping with its ambitious plan to create new projects that serve Dubai’s booming market, the group is also growing its retail portfolio with the construction of The Villa Square and Liwan Mall, he added.