Metropolitan Premium Properties and Mallorca Properties close Dubai’s biggest residential land transaction for AED 690M
8.12.2022 17:50:00 EET | Business Wire | Press release
Metropolitan Premium Properties (MPP) – a full-service real estate agency and the Metropolitan Group’s flagship property company, together with Mallorca Properties, a boutique commercial real estate firm specializing in high-end and private real estate investment opportunities, have closed Dubai’s single biggest residential land transaction to date – an AED 690M (USD 187.6M) deal for three plots at Dubai Marina.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221208005588/en/
Ahmed Abou El Naga, Head of Institutional Sales of Metropolitan Group (Photo: AETOSWire)
The built-up area of the transaction is over 1.7 million sq. ft. and the total seafront plot is over 100,000 sq. ft. directly on Dubai’s most luxurious marina with unobstructed views of the sea, Dubai Eye and Palm Jumeirah. Ultra-luxury apartments and penthouses are expected to be developed on the plots which were sold to a leading Dubai-based real estate developer.
Ahmed Abou El Naga, Head of Institutional Sales of Metropolitan Group has sourced and orchestrated the deal with the assistance of Fakhreddin Minooeifar, Founder and Chairman of Mallorca Commercial Real Estate Advisory who represented the buyer.
“There are only a handful of seafront plots available in all prime Dubai neighbourhoods and they are completely off the market. We are glad to play such a pivotal role in adding such a flagship development to the iconic Dubai skyline,” said Ahmed Abou El Naga, Head of Institutional Sales of Metropolitan Group. “We are currently witnessing a massive demand from international developers to expand their operations in Dubai market. Most of these multinationals are after prime plots to develop high-end luxurious projects.”
Fakhreddin Minooeifar, Founder and Chairman of Mallorca Commercial Real Estate Advisory said: “This deal further reaffirms Dubai’s leading positioning as a destination for prime plots and properties. We continue to work with an exclusive selection of high-net-worth clients and remain their trusted property advisor throughout the transaction process.”
Metropolitan Group launched its Institutional Sales division in May this year which is exclusively focused on transactions involving buildings, plots and income generating trophy assets. In parallel, Mallorca Properties has a strong track record of strategic transactions and is primarily focused on commercial investment opportunities.
Notes to the Editor
About Metropolitan Premium Properties
Metropolitan Premium Properties (MPP) is the Metropolitan Group’s flagship property company based in Dubai. It is a full-service real estate agency offering customized solutions to developers, owners and investors who are looking to maximize value from their luxury real estate assets. MPP offers a complete real estate solution under one roof and has the UAE's largest premium property portfolio.
About Mallorca Properties
A Family-owned multi-award-winning boutique real estate investment advisory with the clear goal of being a niche service provider and focused on big ticket commercial opportunities.
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221208005588/en/
Contact information
For further information, please contact:
Lejo Johnny
Leidar MENA
Tel: 0097148170394, Cell: 00971504537023
Email: lejo.johnny@leidar.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
‘Concrete in Life 2025/26’ Winners Announced – Spectacular Photographs From Around the World22.4.2026 11:00:00 EEST | Press release
Powerful and striking images from around the world have been chosen as the winners of the Concrete in Life 2025/26 global photography competition, showcasing the essential role concrete plays in daily life, infrastructure, cities, and design. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260422352135/en/ OVERALL WINNER: Pillars Across the Sea by Celbert Palaganas, Cebu City, Philippines Run by the Global Cement and Concrete Association (GCCA), the annual competition received more than 20,000 entries from professional and amateur photographers, as well as smartphone users, spanning every continent. The competition highlights how concrete supports modern life while also offering moments of beauty, creativity and human connection. Thomas Guillot, Chief Executive of the GCCA, said: “The spectacular images submitted this year show concrete’s positive impact on people’s lives all over the world - sometimes practical, sometimes al
Netceed Publishes Its First Environmental, Social and Governance Report22.4.2026 10:30:00 EEST | Press release
Netceed, a global infrastructure supply chain solutions provider, has published our first Annual Environmental, Social and Governance (ESG) Report, marking a major milestone in the Group’s sustainability journey and reinforcing our commitment to transparency, accountability, and responsible business practices. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260422579806/en/ Netceed Sustainability Report 2025 The report presents Netceed’s progress across environmental, social, and governance topics, including the verification of its carbon footprint data by an independent third party and the completion of its first climate risk analysis. Key highlights include: A reduction in Scope 1 and 2 CO2e emissions compared to 2024 Improved gender diversity in senior management positions – we now have 23% of senior management positions filled by women 70% of our suppliers (by spend) are working with us on our climate action priorities A
IONCHI toivottaa AITO:n tervetulleeksi liittymään BMW:n ja Mercedes-Benzin kanssa premium-tason suurteholatausverkostojen kehittämiseen Kiinassa22.4.2026 10:21:00 EEST | Tiedote
IONCHI, BMW:n ja Mercedes-Benzin yhteisyritys suurteholatauspalvelujen alalla, ilmoitti tänään, että SERES liittyy yhtiöön tasavertaisena osakkaana. Tämän omistusjärjestelyn kautta SERES-konsernin premium-brändi AITO tukee IONCHI:n premium-latausinfrastruktuurin kehittämistä. Tämän lisäyksen myötä IONCHI jatkaa korkealaatuisten latauspalvelujen tarjoamista kehittyneen teknologian ja digitaalisten palvelujen avulla kaikille soveltuville ajoneuvoille sekä tarjoaa eksklusiivisia latauskokemuksia BMW:n, AITO:n ja Mercedes-Benzin asiakkaille. Laajentunut kolmen osapuolen kumppanuus merkitsee uuden vaiheen alkua premium-latausverkoston kehityksessä, mahdollistaen lisäkasvun ja laajemman asiakaskunnan. Kukin kolmesta osakkaasta omistaa 33,3 % yhteisyrityksestä. Vuonna 2024 perustettu IONCHI pyrkii parantamaan Kiinan premium-tasoista sähköisen liikkumisen kokemusta huipputeknisen julkisen suurteholatausverkoston avulla. Verkosto keskittyy keskeisiin sijainteihin kaupunkialueilla yhdistäen ultr
Europcar Mobility Group Announces Exclusive Partnership With MIC Co., Ltd. to Expand Presence in Japan22.4.2026 10:02:00 EEST | Press release
Europcar Mobility Group has entered into an exclusive partnership agreement with MIC Co., Ltd., the operator of Japan’s extensive "Niconico Rent-A-Car" network. This landmark agreement marks Europcar Mobility Group’s first exclusive partnership in the Japanese market, aimed at providing seamless mobility solutions for the growing number of international travelers visiting the region. Enhancing possibilities for Inbound Travelers Since April 10, 2026, customers can book car rentals at Niconico Rent-A-Car’s directly-operated airport locations through Europcar’s global booking platform, allowing foreign travelers to arrange their transportation in Japan from overseas using a familiar interface, eliminating common booking hurdles and improving the overall travel experience.To date, the service is available across key gateway locations: Major Airports: Haneda, Narita, New Chitose, Fukuoka, Kagoshima, Nagasaki, and Kumamoto. Key Transit Hubs: Shin-Yokohama Station and Kansai Airport Rinku To
SkySparc Acquires Covarius and Uniun22.4.2026 10:00:00 EEST | Press release
SkySparc, a trusted global provider of digital transformation solutions for treasury and finance institutions, today announced the acquisition of Covarius Group Limited (“Covarius”) and Uniun Technology Limited (“Uniun”). The acquisitions accelerate SkySparc’s European expansion and deepen its specialist support for treasury transformation. Financial terms were not disclosed. Covarius and Uniun operate complementary businesses together enabling a more complete, end-to-end treasury solution. Covarius specialises in the implementation and optimisation of treasury management systems, underpinned by deep partnerships and a well-established global presence. Uniun adds a real-time, API-based integration platform focused on ERP-to-TMS connectivity and cash forecasting, supported by AI and data science. For clients, the combined proposition the two companies bring centres on improved cash visibility and stronger cash flow prediction, with greater automation across treasury workflows, improving
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom