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
EdgeConneX Appoints SVP of Global Construction Delivery, Vice Presidents for Norway and Germany17.9.2026 14:00:00 EEST | Press release
EdgeConneX®, a global leader in Build-to-Suit and Build-to-Density digital infrastructure solutions, today announced the appointments of Garry O’Leary as SVP, Delivery, Global, Anders Hilt as Vice President of Norway, and Michael Barth as Vice President of Germany. All three hires bring a deep commitment to building strong local relationships and will play a key role in advancing the company's global projects and supporting community engagement and local support efforts. EdgeConneX continues to expand its platform globally, with gigawatts of major projects underway across multiple continents. As SVP, Delivery, Global, Garry plays a critical role in delivering the company's new capacity on time and on budget, overseeing regional construction leadership, contractor and vendor management, site safety, quality assurance, and supply chain. Prior to joining EdgeConneX, Garry was Vice President and Director of Construction Delivery (EMEA) at Compass Datacenters, where he led complex global de
IFF Launches Omni-Bos™ PHY to Help Dairy Producers Get More Value from Feed17.9.2026 14:00:00 EEST | Press release
IFF (NYSE: IFF) — a global leader in flavors, fragrances and health and biosciences — today announced the launch of Omni-Bos™ PHY, a novel phytase enzyme designed specifically for dairy cattle. The technology helps producers improve nutrient utilization and feed efficiency by unlocking nutrients already present in feed, enabling cows to derive greater value from existing feed ingredients. Omni-Bos™ PHY will initially launch in the Middle East, Africa and Asia-Pacific regions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260916599752/en/ IFF has launched Omni-Bos™ PHY, a phytase enzyme developed specifically for dairy cattle, that helps producers unlock nutrients already present in feed to improve nutrient utilization and feed efficiency. “We believe the future of dairy nutrition is helping cows receive more value from the nutrients in their feed,” said Regina Cortada, vice president, Animal Nutrition & Health for IFF Healt
Brushing Well Is Harder Than Most People Think — New Research Confirms Why the Technology Behind Oral-B iO is the Best Way to Help You Get it Right17.9.2026 13:40:00 EEST | Press release
Oral-B, the #1 toothbrush brand used and recommended by dentists worldwide, today announced new evidence reinforcing the superiority of Oral-B iO technology. In an independent 2026 peer-reviewed network meta-analysis of 19 randomized clinical studies involving more than 1,300 participants, the oscillating-rotating technology behind Oral-B iO was ranked #1 for plaque removal and gingivitis reduction. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260911054017/en/ Oral-B iO9 makes a superior clean easier to achieve every day. Most people think they are brushing effectively, but brushing well is harder than it seems. Plaque often remains in the places that are hardest to clean, including along the gumline, between teeth and around molars. In fact, 80% of people miss at least one area when brushing, and 60% miss their molars. Over time, that plaque buildup can impact oral health and well-being. “People brush every day, but brush
Former Colombian President Iván Duque Appointed to Advance ICC and Carbon Measures' Global Product-Level Carbon Accounting Initiative17.9.2026 13:00:00 EEST | Press release
The International Chamber of Commerce (ICC) and Carbon Measures today announced that Iván Duque Márquez, former President of Colombia, has been named Chair of the newly created Technical Expert Panel Advisory Group established to complement the work of the TEP on Carbon Accounting. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260915635710/en/ The TEP, co-convened by ICC and Carbon Measures, brings together recognized experts from academia, financial accounting, industry and civil society to develop a globally applicable carbon emissions accounting framework. The TEP’s work comes amid growing global momentum toward harmonization of carbon accounting. The Advisory Group was created to take the TEP’s technical work to the next level, broadening engagement with policymakers, business leaders, and other stakeholders. While the TEP’s technical conclusions are completely independent, the Advisory Group chaired by former President
Thales Unveils HexaForce: AI-Powered, Sovereign Command and Control for NATO and Allied Nations17.9.2026 13:00:00 EEST | Press release
Thales, a global leader in advanced technologies across Defence, Aerospace, and Cyber & Digital, has announced the launch of HexaForce, its next-generation AI-enhanced multi-domain command and control (C2) system. Purpose-built to support national sovereignty, HexaForce provides a rapid, battle-tested response to the massive growth in operational data and the accelerating pace of conflicts. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260917956437/en/ HexaForce_2026©Thales “Some armed forces require a dedicated data platform, while others need operational cross-domain interfaces to link up with allies and complete their systems, or faster multi-domain command functions leveraging state-of-the-art artificial intelligence. With HexaForce, Thales provides a sovereign solution tailored to each of these operational needs, setting a new benchmark in multi-domain C2 for NATO and allied nations amidst rising high-intensity conflic
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