Cast your mind back, if you will, to November 2021.
Expo 2020 Dubai had recently opened its doors to the world and the recovery from the COVID-19 pandemic was well underway thanks to careful management on the part of the UAE government.
Dubai’s star was once again on the rise as an attractive destination, both for tourists and permanent residents, with demand for ultra-luxury homes steadily increasing. It was against this promising backdrop that I decided to launch AHS Properties, and I’m pleased to report we have had an excellent first two years in business.
So, as our company celebrates its anniversary, what better time to pause and reflect on all that our team has achieved and learned so far?
Our uber-luxury vision
I launched AHS Properties with a clarity of vision and purpose: to transform high-end properties into uber-luxury homes, redefining luxury in the process. Not only has this ambition remained unchanged, but it is currently stronger than ever.
We understand that the trust of the ultra-high-net-worth individuals (UHNWIs) that make up our customer base is our most important asset. In order to build and maintain this trust, we have made a deliberate and conscious decision to focus on immaculate quality over quantity. Put simply, we want to be the best, not the biggest.
AHS Properties started out with a portfolio of just four villas, with a combined value of $100 million. This commitment to a modest number of high-quality, long-term projects has become a hallmark of our approach and, I believe, will factor heavily in the ongoing success of our business.
A growing portfolio
The results so far speak for themselves. In our first two years, we have achieved a series of important milestones.
In addition to the sale of three villas on Palm Jumeirah – including Sun Rays – for $75 million, we also recently sold the luxurious $45 million Amara villa in Emirates Hills. Sitting on a plot spanning more than 30,000 square feet, this seven-bedroom mansion is typical of the spacious and luxurious living experience we specialise in creating at AHS Properties.
Yet despite high demand for our uber-luxury offerings, our team has remained committed to its original vision, prioritising quality over quantity. To date, AHS Properties’ portfolio comprises only five villa projects and three residential developments. At the same time, we have succeeded in growing the company’s asset value from $100 million at launch to approximately $1.65 billion as of the end of 2023.
New landmarks in luxury residential
Our broader residential offering has also gone from strength to strength over the last 24 months.
One Canal, AHS Properties’ collaboration with Fendi Casa, launched in November 2022 with a GDV of $450 million and experienced rapid sales. In October of this year, the final home in this development was purchased for an unprecedented $50 million – a landmark sale not only for our company but also for the UAE’s luxury real estate market as a whole. The sale of our iconic sky mansion, with views of the Burj Khalifa, Burj Al Arab and Dubai Canal, heralds one of the Emirate’s most expensive penthouse purchases to date.
In January 2023, I was delighted to launch One Crescent, a low-rise residential building on Palm Jumeirah with a development value of $200 million. Continuing our successful partnership with world-famous architect Shaun Killa of Killa Design, the firm behind the design of the Museum of the Future, this project will feature a dedicated chauffeur service, round-the-clock concierge services, a screening room, gymnasium, yoga studios, a cigar lounge, infinity swimming pools, a world-class spa and a residents’ lounge. Naturally, those who live at One Crescent will also enjoy ocean views and direct beach access.
AHS Properties’ latest project, Casa Canal, which has a development value of $850 million, was unveiled in May 2023 to significant fanfare. This ground-breaking development, which sits alongside the beautiful Dubai Water Canal, will combine cutting-edge architectural innovation and sustainable technology with unrivalled luxury. In offering future residents a restful blend of natural beauty and urban sophistication, spacious layouts, state-of-the-art amenities, and breathtaking views, I’m pleased to say that Casa Canal represents everything AHS Properties stands for: an unparalleled luxury living experience.
The future is bright
To sum up, the hard work and dedication of my team here at AHS Properties have paid dividends in our first two years. The company’s successes, including our recent landmark sale at One Canal, are testament to the ever-increasing vitality of Dubai’s luxury real estate scene.
What’s more, with significant numbers of UHNWIs eager to call the UAE and Dubai home, our Emirate’s luxury market has exploded in 2023 and is poised for continued growth over the coming months and years. AHS Properties could not be better placed to answer the call for innovative, world-class uber-luxury residences, and I’m proud to be part of this thriving market.
Guided by our mission to redefine luxury, I’m confident the future will see AHS Properties further cement its position in Dubai’s ultra-premium real estate sector, offering an appealing synergy of prime locations, superior quality and unmatched amenities.
Here’s to the next two years and beyond.
