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Northacre, the UK-based real estate development arm of Dubai-listed Shuaa Capital, is to develop a luxury residential development on the Palm Jumeirah in partnership with Ellington Properties and Sol Properties.
The 88 two-to-six bedroom homes, which will include single floor properties as well as duplexes, will be located on The Crescent, The Palm, and designed by architects Bjarke Ingels Group (BIG).
The complex will be on the plot between the Anantara The Palm Dubai Resort and the Waldorf Astoria Dubai Palm Jumeirah and is in partnership with Ellington Properties and Sol Properties - the real estate development arm of Bhatia Group.
A statement issued to Dubai Financial Market (DFM) today said the project marks the arrival of Shuaa’s London-based real estate arm Northacre in the region.
It will be the third Palm Jumeirah development for Ellington Properties, which is behind Ellington Beach House and The Ellington Collection.
Shuaa announced in July that it was merging its real estate operations with UK-based Northacre, to develop a $3.6 billion portfolio of projects across the UK and GCC.
Northacre was acquired by Abu Dhabi Financial Group in 2013, which merged with Shuaa Capital in 2021.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
