Dubai, United Arab Emirates, 25 October 2023: In a move representing the pinnacle of luxury real estate, AHS Properties has marked an industry milestone with the sale of an iconic penthouse in One Canal for an unprecedented $50 million. The ultra-luxury residential building along the Dubai Canal was sold to the family office of a European billionaire, making it one of Dubai’s most expensive penthouse purchase.
This milestone agreement follows closely on the heels of the company’s collaboration with Fendi Casa in November 2022, which heralded the launch of the One Canal project. With a gross development value of $450 million, the project experienced rapid sales, and the penthouse sale represents the final piece of the available inventory.
Everose Properties, under the representation of Karl Shehfe and Gregory Mathieu, acted as the wealth management entity overseeing the transaction. The 30,000-square-foot penthouse at One Canal stands as a magnificent sky mansion, ingeniously merging four rooftop units. This architectural marvel boasts state-of-the-art amenities: a dedicated gym, steam room, sauna, an exclusive rooftop garden accompanied by a pool, two additional private pools, grandiose high ceilings, and dual parking spaces. Residents can revel in breathtaking panoramic views, capturing the majesty of iconic landmarks, including the Burj Khalifa, Burj Al Arab, and the serene Dubai Canal.
Dubai, United Arab Emirates, 25 October 2023: In a move representing the pinnacle of luxury real estate, AHS Properties has marked an industry milestone with the sale of an iconic penthouse in One Canal for an unprecedented $50 million. The ultra-luxury residential building along the Dubai Canal was sold to the family office of a European billionaire, making it one of Dubai’s most expensive penthouse purchase.
This milestone agreement follows closely on the heels of the company’s collaboration with Fendi Casa in November 2022, which heralded the launch of the One Canal project. With a gross development value of $450 million, the project experienced rapid sales, and the penthouse sale represents the final piece of the available inventory.
Everose Properties, under the representation of Karl Shehfe and Gregory Mathieu, acted as the wealth management entity overseeing the transaction. The 30,000-square-foot penthouse at One Canal stands as a magnificent sky mansion, ingeniously merging four rooftop units. This architectural marvel boasts state-of-the-art amenities: a dedicated gym, steam room, sauna, an exclusive rooftop garden accompanied by a pool, two additional private pools, grandiose high ceilings, and dual parking spaces. Residents can revel in breathtaking panoramic views, capturing the majesty of iconic landmarks, including the Burj Khalifa, Burj Al Arab, and the serene Dubai Canal.
In a new milestone in the Dubai real estate market, a penthouse on the Dubai Water Canal has been sold for a whopping $50 million (Dh183 million).
The penthouse, in the ultra-luxury residential building One Canal, was sold by AHS Properties to the family office of a European billionaire, making it one of Dubai’s most expensive penthouse purchases.
This agreement follows closely on the heels of the company’s collaboration with Fendi Casa in November 2022, which heralded the launch of the One Canal project. With a gross development value of $450 million, the project experienced rapid sales, and the penthouse sale represents the final piece of the available inventory.
Everose Properties, under the representation of Karl Shehfe and Gregory Mathieu, acted as the wealth management entity overseeing the transaction.
The 30,000-plus square-foot penthouse at One Canal stands as a sky mansion, merging four rooftop units. The unit includes amenities like a dedicated gym, steam room, sauna, an exclusive rooftop garden accompanied by a pool, two additional private pools, high ceilings, and dual parking spaces. Residents will have panoramic views of the Burj Khalifa, Burj Al Arab, and the Dubai Canal.
The Fendi-branded project blends the spaciousness of a luxury villa with city vistas. The acclaimed interior design firm, Hirsch Bedner Associates, was entrusted with the design of One Canal’s interiors, while the architecture was executed by Shaun Killa, a world-famous architect and the brains behind the unique and stunning Museum of the Future.
Abbas Sajwani, CEO and Founder of AHS Properties, said: “This mega sale to a European buyer is a testament to the vitality of Dubai’s luxury real estate scene. This niche sector is poised for continued growth, with the UAE consistently drawing high networth individuals eager to call Dubai home. Guided by our mission to elevate and redefine luxury, AHS Properties is further cementing its position in the emirate’s premium property sector as a beacon for global investors, offering a synergy of prime locations and unmatched amenities. The One Canal penthouse exemplifies this, reflecting the height of luxury.”
Since launching in November of 2021, AHS Properties has quickly become a leader in the ultra-luxury real estate landscape, from acquiring, renovating and reselling mansions in premium locations, such as the Palm Jumeirah and Emirates Hills, to evolving into the property developer it is today.
Earlier in January, AHS Properties launched One Crescent on the Palm Jumeirah, a low-rise residential building designed by Killa Design, the firm behind the design of the Museum of the Future. Offering similar top-of-the-line amenities as One Canal, residents of One Cresent wake up to ocean views and vistas of Dubai’s most iconic landmarks.
Dubai-based luxury property developer AHS Properties said Wednesday it had completed sale of an ultra-luxury penthouse along the Dubai Canal for a record $50 million to the family office of an unspecified European billionaire, making it one of Dubai’s most expensive penthouse purchases ever.
The penthouse, spanning over 30,000 square feet and merging four rooftop units, was the final unit of the $450 million One Canal project, which AHS developed alongside Italian developer Fendi Casa in November 2022, the Dubai firm said in a statement.
The luxury unit has “a dedicated gym, steam room, sauna, an exclusive rooftop garden accompanied by a pool, two additional private pools, grandiose high ceilings, and dual parking spaces,” the company added.
Everose Properties acted as the wealth management entity to manage the transaction.
“This niche sector is poised for continued growth, with the UAE consistently drawing high-net-worth individuals eager to call Dubai home,” said AHS CEO Abbas Sajwani.
Founded in November 2021, AHS Properties has ultra-luxury real estate units in Dubai’s premier locations such as the Palm Jumeirah and Emirates Hills.
In May, the company revealed that it had sold three of its luxury villa projects on the Palm Jumeirah for more than $75 million.
In January, AHS Properties launched One Crescent on the Palm Jumeirah, a low-rise residential building designed by Killa Design, the firm behind the Museum of the Future.
Sajwani’s father, billionaire Hussain Sajwani, who chairs Dubai-based luxury real estate developer Damac Properties, has a net worth of $4.5 billion as of October 25, 2023, according to Forbes estimates.
Dubai: A penthouse at One Canal in Dubai was sold for $50 million to the family office of a European billionaire. The sale came after a collaboration with Fendi Casa in November 2022, launching the One Canal project with a gross development value of $450 million. The 30,000-square-foot penthouse is the final piece of available inventory, and Everose Properties, represented by Karl Shehfe and Gregory Mathieu, managed the transaction.
The penthouse is a combination of four rooftop units and offers amenities such as a gym, steam room, sauna, rooftop garden, multiple pools, high ceilings, and dual parking spaces. It provides panoramic views of iconic landmarks including the Burj Khalifa, Burj Al Arab, and the Dubai Canal.
Exclusive: Developer is optimistic about the luxury property market in the emirate as the prices continue to increase, its chief executive says…
Dubai-based AHS Properties, the luxury real estate company founded by Emirati entrepreneur Abbas Sajwani less than a year ago, has acquired two low-rise apartment building plots in Palm Jumeirah and Dubai Canal. The two nine-storey buildings, comprising a total of 25 penthouses and sky villas, offer residents an exclusive and private experience, complete with stunning city views. With the addition of these two projects to its portfolio, AHS Properties’ gross development value has now reached $550 million between projects sold and under development. The properties will be priced at $1,100 per sq ft and feature interior designs by 1508 London and Hirsch Bedner Associates. State-of-the-art facilities include spas, private cinemas, cigar lounges, and private swimming pools on all balconies. The prestigious projects will be designed by global architect Shaun Killa, a veteran of Dubai’s architecture sector, and the designer of the Museum of the Future. “We are working with world-renowned architects and brands to revamp these properties to meet the growing demand for ultra-luxury living. AHS Properties aims to set the highest bar for delivering unique and quality ultra-luxury homes for our clientele and giving them the best of the best.” AHS Properties announced its entry into the market in November last year with a total asset value of AHS Properties, made its debut in the market in November of last year, boasting a total asset value of over $100 million, including four luxury villas located in Palm Jumeirah and Emirates Hills. Since then, the company has already sold three of its luxury villa projects on Palm Jumeirah with a combined value exceeding $75 million. As the company sets its sights on further growth, it plans to put up another mansion in Emirates Hills with an estimated value of $45 million, which will be available in Q4. Additionally, AHS Properties is also developing a fifth mansion in Palm Jumeirah, valued at $40 million. The company’s continuous expansion and increasing success in the market has positioned them as a major player in the high-end real estate industry in Dubai.
For centuries, the Arab world has been home to many influential individuals who have left their mark on the global stage. From politics to business, arts to sports, Arab personalities have made significant contributions to society and have earned recognition for their achievements.
Arabian Business has sought to highlight the achievements of such influential Arabs through our annual 100 Most Influential Arabs list. The list features individuals who have made a significant impact in their respective fields and have influenced the Arab world in a positive way.
While by no means exhaustive, no edition could capture in one snapshot the entirety of inspirational and influential Arabs working hard to make their mark, the list is instead a curated look at individuals who are influencing, either overtly or subtly, the region.
There are public sector figures, there are CEOs, founders and presidents, educationalists and financiers, healthcare leaders and entrepreneurs. Some names will be familiar, others will be new, but we hope you find this snapshot informative and inspiring.
This list is a celebration of Arab excellence and a testament to the region’s potential, and we hope you enjoy reading it as much as we did putting it together.
Abbas Sajwani, founder of AHS properties, reveals the mindset behind one of Dubai’s newest, and most successful, real estate firms
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Abbas Hussain Sajwani, the Founder and CEO of AHS Properties, a leading real estate company specializing in ultra-luxury properties, has informed Aviamost that market prices in this segment are set to continue their growth trajectory. Mr. Sajwani highlighted that the demand for exclusive and bespoke living spaces in Dubai currently surpasses the supply, contributing to a favourable market outlook for investors and buyers alike.
