Driven Properties Acquires Dh505 Million Commercial Property in Downtown Dubai

Tuesday, 12 November 2024

In a landmark real estate transaction, a commercial property in Downtown Dubai was acquired for Dh505 million. Here’s a breakdown of the key details:

• Ahead of Schedule: “The early handover is a significant accomplishment, reflecting our dedication to meeting customer aspirations with innovative design and exceptional service standards.”
• Investment Appeal: Saad believes this milestone strengthens Ajman’s appeal as a vibrant investment destination, adding fresh energy to the emirate’s real estate sector.
• Vision for Al Zorah: “Our vision is to establish Al Zorah as a premier beach and golf destination in the northern emirates, a focal point for real estate, tourism, and community wellness,” Saad adds.

Statements from Key Figures:

• Abdullah Alajaji, Founder and CEO of Driven Properties: “Our investment reflects our commitment to excellence and a proactive approach to meeting market demands. Expanding with this landmark building strengthens our portfolio and supports the ambitions of Dubai’s dynamic businesses.”
  • He also shared that moving their headquarters to Emaar Square 3 is a significant milestone, placing Driven Properties in the heart of innovation and opportunity.
• Hadi Hamra, Managing Partner: The acquisition was made through a dedicated fund, with Hamra noting that relocating the headquarters to Emaar Square 3 signifies growth and solidifies Driven Properties’ standing as a trusted and influential player in Dubai’s competitive market.

Market Insights:

• According to Property Monitor, Dubai’s real estate market saw a surge in transactions, surpassing 20,000 sales in October—a 13% increase from the previous month. The majority of these transactions involved off-plan and under-construction properties.

This strategic acquisition marks a major step in Driven Properties’ growth, reinforcing its presence in one of the most sought-after commercial neighborhoods in Dubai.