Partnership between Ellington Properties, Shuaa Capital and Sol Development to develop a groundbreaking waterfront residential project on Palm Jumeirah

The partnership underscores the continued expansion of Ellington Properties as a boutique developer

The partnership reflects the continued success of Shuaa’s investment strategy in the property sector and is the launch of property development projects for North Acres Company, which is headquartered in London, in the region.

Seoul Development is committed to creating high quality housing that enriches the lives of its residents

Dubai United Arab EmiratesEllington Properties, a high-end property development company focusing on design aesthetics in Dubai, has signed numerous awards, and SHUAA Capital PJSC, listed on the Dubai Financial Market under the symbol: (SHUAA), the leading platform for property management. Assets and investment banking at the regional level, through its real estate development arm “North Acres” and “Sol Development”, the real estate development arm of the “Bhatia Group” in Dubai, an agreement to develop a new residential project in Palm Jumeirah.

The partnership will bring together three leading real estate investment and development companies to work together to develop an exceptional residential project that enhances the lifestyle of its residents, giving them beautiful spaces enhanced with creative designs aligned with luxury lifestyles.

The Bjarke Ingels Group, which includes some of the most prominent architects in the world and has offices in Copenhagen, New York, London, Barcelona and Shenzhen, was selected to develop the architectural designs for the project. The new project will span 9 residential floors and will include 88 apartments, including two- to six-bedroom apartments, in addition to duplexes. The project will surely reflect the excellent approach of “Ellington Properties”, which focuses on the aesthetics of design, and will include a series of exceptional features and distinctive facilities comparable to tourist resorts, giving residents a lifestyle that exceeds their expectations. surpass.

On this occasion, says Robert Booth, co-founder and managing director of Ellington Properties“This partnership is another step closer to achieving our goals of meeting the growing demand for luxury homes that focus on design aesthetics. By partnering with best-in-class companies, we will be keen to leverage their expertise to develop beautiful residences in prime locations across Dubai that will enrich the lifestyle of its residents.”

In turn, he said Jassim Al-Siddiqi, Chairman of the Board of Directors of North AcresWe look forward to starting this partnership, which will bring us closer to achieving our shared visions of building luxury spaces with contemporary artistic flair, contributing to providing exceptional living experiences and a healthy lifestyle, while on the smallest details within the highest standards of craftsmanship and professionalism.

added Fouad Tariq Khan, Group Chief Executive Officer, Shuaa Capital: “The partnership is in line with Shuaa Capital’s successful investment strategy in the real estate market, which aims to provide shareholders with additional value. This project confirms our commitment to diversify our investment portfolio across key business sectors, including the real estate sector.”

And he said Ajay Bhatia, Founder and CEO, Seoul Developments“We are pleased to announce a new collaboration with Ellington Properties, following our joint venture to develop Oakley Square Residences. Through this partnership, we will continue to advance our shared goals of creating beautiful, quality homes that the lives of our residents enriched.”

The new project embodies the third “Ellington” projects on Palm Jumeirah, following the recently launched Ellington Beach House, which includes 123 residential units, and the “Ellington Collection” project, which includes 9 charming waterfront villas. The new project culminates in Ellington Properties’ growing portfolio of award-winning residential projects in Dubai. Other flagship projects of the company include: Belgravia 1 and Belgravia 2; Belgravia Square; Belgravia Heights 1; Eaton Place; Somerset Mews; Harrington House, all located in Jumeirah Village Circle, in addition to DT1 in Downtown Dubai and Wilton Terraces; and Wilton Park Residences.

Northacre, London’s leading property developer, with a legacy of over 30 years in developing exceptional residential projects, is a subsidiary of Dubai-based Shuaa Capital. SHUAA Capital and Northacre are currently working on $3.6 billion worth of real estate projects being developed across the GCC and UK. Recently, Northacre announced the completion of The Broadway, a contemporary $1.5 billion residential and mixed-use development overlooking London’s most prestigious districts of Westminster and St James’ Park.

It is noteworthy that “Soul Real Estate Development Company” is a leading real estate development company with four decades of experience and more than 250 projects, including the development of residential, hospitality, retail and commercial projects.

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