Deyaar Development, a Dubai-listed property developer, plans to add a 70-storey high-rise to the Dubai skyline as it continues to expand its portfolio in the emirate.
Construction on the Dh1 billion ($272.5 million) Regalia tower in Business Bay will start next month and Deyaar expects to deliver the premium residential project in 2024, it said in a statement on Tuesday to the Dubai Financial Market, where its shares are traded. It did not say how it plans to finance the project.
Regalia will be Deyaar’s “flagship skyscraper that will set a new benchmark for high-end urban living in the heart of the city”, said chief executive Saeed Al Qatami.
“We anticipate that the project will appeal to investors” as it offers smart city technology and seamless connectivity to Dubai’s major arteries such as Al Khalil and Sheikh Zayed Roads, he added.
As the Middle East's commercial and tourism hub, Dubai is home to some of the most famous high-rise buildings in the world, including the Burj Khalifa, the world’s tallest building, and the Burj Al Arab hotel that is built on a man-made island and stands at 321 metres – 14 metres taller than the Eiffel Tower and only 60 metres shorter than the Empire State building.
Some of the other tower blocks in the emirate include Marina 101, Princess Tower, 23 Marina, Elite Residence, The Address Boulevard, Almas Tower, JW Marriot Marquis and Emirates Towers, according to data from the Council on Tall Buildings and Urban Habitat.
The property market in the UAE softened as a result of a three-year oil price slump that began in 2014 and the Covid-19 pandemic, which pushed the global economy into its worst recession since the 1930s.
However, economic support measures and government initiatives, including retiree visas and the expansion of the 10-year golden visa programme to encourage foreign professionals to settle in the UAE, have helped to improve sentiment.
Expo 2020 Dubai and the emirate's new remote working visa are also expected to drive up property demand. The Dubai 2040 Urban Master Plan, which aims to make the city the world’s best to live in, will further boost its property market.
Established in 2002, Deyaar has developed projects in the emirate's Business Bay, Dubai Marina, Al Barsha and Jumeirah Lakes Towers districts.
Earlier this year, it announced the handover of the Bella Rose development, a 478 residential unit project in Dubai Science Park.
Construction of the third and fourth phases of its Midtown residential project, which will add 11 more buildings to the development, is also progressing according to plan, it said in April.
Majority-owned by Dubai Islamic Bank, the biggest Sharia-compliant lender in the UAE, Deyaar reported a five-fold jump in its first-quarter net income to Dh15.1 million ($4.14m) as revenue increased on project deliveries.
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Results
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PAST 10 BRITISH GRAND PRIX WINNERS
2016 - Lewis Hamilton (Mercedes-GP)
2015 - Lewis Hamilton (Mercedes-GP)
2014 - Lewis Hamilton (Mercedes-GP)
2013 - Nico Rosberg (Mercedes-GP)
2012 - Mark Webber (Red Bull Racing)
2011 - Fernando Alonso (Ferrari)
2010 - Mark Webber (Red Bull Racing)
2009 - Sebastian Vettel (Red Bull Racing)
2008 - Lewis Hamilton (McLaren)
2007 - Kimi Raikkonen (Ferrari)
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
STAGE 4 RESULTS
1 Sam Bennett (IRL) Deceuninck-QuickStep - 4:51:51
2 David Dekker (NED) Team Jumbo-Visma
3 Caleb Ewan (AUS) Lotto Soudal
4 Elia Viviani (ITA) Cofidis
5 Matteo Moschetti (ITA) Trek-Segafredo
General Classification
1 Tadej Pogacar (SLO) UAE Team Emirates - 12:50:21
2 Adam Yates (GBR) Teamn Ineos Grenadiers - 0:00:43
3 Joao Almeida (POR) Deceuninck-QuickStep - 0:01:03
4 Chris Harper (AUS) Jumbo-Visma - 0:01:43
5 Neilson Powless (USA) EF Education-Nippo - 0:01:45
Sholto Byrnes on Myanmar politics
COMPANY%20PROFILE
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Yahya Al Ghassani's bio
Date of birth: April 18, 1998
Playing position: Winger
Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
Spider-Man%202
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UAE currency: the story behind the money in your pockets
Heather, the Totality
Matthew Weiner,
Canongate
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
