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
Hollywood Chamber of Commerce Expands Into Luxury Hospitality20.7.2026 19:30:00 EEST | Press release
The Hollywood Chamber of Commerce, known for the iconic Hollywood Sign® and Hollywood Walk of Fame®, is expanding into luxury hospitality through a strategic partnership with The Scene Hotels & Resorts to launch Hollywood Hotels & Residences. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260720026178/en/ The Scene Hotels & Resorts, with 40+ years of combined expertise in hospitality, travel, and brand development, will lead the brand’s development and management. The partnership will bring the Hollywood lifestyle to luxury hotels and branded residences around the world, creating immersive destinations inspired by the world's entertainment capital. "This partnership represents far more than an expansion of the Hollywood brand—it reflects our vision of Hollywood as the world's premier hub for entertainment, creativity, and commerce," said Ron Frierson, President & CEO of the Hollywood Chamber of Commerce. "By deepening our in
Epic Flight Academy Agrees to Purchase up to 50 Pipistrel Voyager Aircraft, Supplementing Its Fleet of Trainers as It Supports Continued Pilot Training20.7.2026 18:38:00 EEST | Press release
Pipistrel, a Textron Inc. (NYSE: TXT) company and an affiliate of Textron Aviation Inc., today announced Epic Flight Academy as the launch customer for the Pipistrel Voyager during Textron Aviation’s press conference at EAA AirVenture 2026. The company has signed a purchase agreement for up to 50 Voyager aircraft, with an order for 10 initial deliveries beginning in 2027, and options for up to 20 additional aircraft in 2028 and 20 in 2029, supporting the continued expansion of its training fleet and growing demand for pilot training. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260720003143/en/ Epic Flight Academy agrees to purchase up to 50 Pipistrel Voyager aircraft, supplementing its fleet of trainers as it supports continued pilot training (Photo Credit: Pipistrel, a Textron Inc. company and an affiliate of Textron Aviation Inc.) Epic Flight Academy is a Florida-based flight training provider offering FAA Part 141 and
New Pipistrel Voyager Brings Next Generation Training Capabilities and Access to Flight Schools20.7.2026 16:00:00 EEST | Press release
Pipistrel, a Textron Inc. (NYSE: TXT) company and an affiliate of Textron Aviation Inc., today introduced the Pipistrel Voyager, a next-generation training aircraft designed to expand capability for flight schools while maintaining the efficiency and simplicity owners and operators expect from Pipistrel. Purpose-built for evolving pilot training requirements, the Voyager is designed to align with anticipated Modernization of Special Airworthiness Certification (MOSAIC) regulations. This positions the aircraft to support broader training missions while improving access to pilot development. The aircraft is expected to enter into service in 2027. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260720673571/en/ New Pipistrel Voyager brings next generation training capabilities and access to flight schools (Photo Credit: Pipistrel, a Textron Inc. company and an affiliate of Textron Aviation Inc.) The Voyager is making its world d
Expensify Launches Corporate Card in Europe20.7.2026 16:00:00 EEST | Press release
Expensify, Inc. (Nasdaq: EXFY), the easiest way to manage expenses, corporate cards, and travel, today announced that the Expensify Card is available to businesses of all sizes in the UK and select European markets, including Spain, Ireland, Poland, and the Netherlands. “The Expensify Card works quietly in the background to keep your business spend controlled, compliant, and ready for accounting,” said David Barrett, founder and CEO of Expensify. “It’s a preaccounting assistant that eliminates hours of reconciling transactions, chasing receipts, and reimbursing employees. One of our US customers, Pivot Bio, cut down on their expense report audit times by 90%. We can’t wait to share that same time savings with millions of businesses in the UK and EU.” Key benefits of the Expensify Card include: Real-time spend visibility: Transactions appear instantly in Expensify, so finance teams aren't waiting until month-end to see what was spent. Auto-categorization and receipt matching: Concierge
86% Of Enterprises Have Deployed AI Agents. Just 34% Trust Them, Boomi Study Finds.20.7.2026 16:00:00 EEST | Press release
Boomi, the data activation company for AI, today announced new research conducted by Forrester Consulting on behalf of Boomi showing that despite rapid enterprise adoption of AI agents, trust hasn't kept pace with ambition. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260720652115/en/ Boomi-commissioned independent study finds integration, not smarter models, separates enterprises that trust their AI agents from those stuck in “agentic chaos” The Forrester survey of 409 director-and-above IT and technology decision-makers across North America, Europe, and APAC found that 86% of organizations have moved beyond the AI agent pilot stage, yet just 34% say they trust the actions their AI agents are taking. Among organizations in a state of "agentic chaos" (the bottom quartile for operational readiness across governance, integration, API/MCP management, and other categories), 77% are moving into production anyway, exposing thems
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