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Dubai-based real estate developer R.evolution intends to introduce at least six projects by 2025 across the residential, hospitality and office segments to address the scarcity of high-quality real estate offerings in the market, Chairman & Chief Executive Officer Alex Zagrebelny told Zawya Projects.
“Our business plan includes starting two new projects in 2023, two in 2024, and two in 2025. Our approach aims to create added value not only in the residential segment but also in mixed-use, office, and hotel segments,” he said.
“When we acquire land suitable for an office building, such as in Dubai International Financial Centre (DIFC), we will develop a new generation of revolutionary work environments,” he added.
The developer launched its maiden project, Eywa, a 19-storey residential project in Business Bay, in July this year. Handover is expected in the second quarter of 2026.
Interview excerpts
What market factors compelled you to launch Eywa in Business Bay? Is this your first project in Dubai?
I admire the speed at which the UAE and Dubai have developed over the last 50 years, especially the last 10 years. I am convinced that no other city in the world has turned into a real centre of business, leisure and art at such a rapid pace. We were motivated by several market factors to choose Business Bay as the location for Eywa.
Firstly, the Dubai Water Canal widens significantly in this area, creating a sizable lagoon. Additionally, it offers close proximity to the city centre, Dubai International Airport, stunning views of Burj Khalifa and Dubai Downtown. On one side, the building is bordered by the canal and a pedestrian promenade, while on the other side is a quiet street.
When did you acquire the land for the project? Are you now seeing an increase in land prices in Business Bay?
We purchased the land plot for the project in the spring of 2022. Land prices in the master development are indeed rising; however, such increases are due to many factors.
What is your project’s USP in terms of design?
The chosen design concept is a testament to the building’s commitment to making the most of nature, embracing the principles of ‘Form, Function, Feeling,’ presented by the conceptual architects OAD. Our lead design consultants are BSBG, responsible for the technical side of the project. A striking aspect of the design concept is the visual Banyan tree façade with roots visible from the outside, symbolising the building’s deep connection to nature. The organic shapes and green spaces evoke a sense of peace and harmony, allowing residents to immerse themselves in nature within an urban setting. With its refreshing biophilic design that promotes a deep connection with nature, Eywa aligns with the Dubai and UAE governments’ manifesto for sustainability and harmony with nature.
What will be the sustainable elements of the project?
We are actively committed to reducing our carbon footprint, minimising waste, and implementing sustainable practices. For example, for façade, we will use energy-saving, noise-insulating, weather-resistant and durable glazed terracotta ceramic tiles, the most energy-efficient glass-aluminium system for the facade.
Eywa will have both LEED Platinum and WELL Platinum certifications. LEED certification recognises the building’s energy and environmental design, leading to cost savings, efficiency improvement, and healthier spaces.
WELL certification, managed by the International WELL Building Institute (IWBI), focuses on improving human health and well-being through the built environment. These certifications complement each other, with WELL emphasising healthy lifestyles and LEED promoting energy/resource efficiency.
At Eywa, we not only promote safe and clean water through proper filtration and testing, but we also restructure, energise, and activate the water. Each apartment will have a centralised supply system that provides functional or activated water, identical in composition and purity to the water of Icelandic glaciers, known as one of the most valuable and expensive drinking water sources in the world. This innovative system is scientifically proven to benefit human well-being.
How much land bank do you own in the UAE?
Currently, we have acquired one land plot and have signed an agreement for a second plot. Our plan is to continue acquiring new land plots every three to six months in various areas in Dubai, Abu Dhabi, and Ras Al Khaimah. We have a positive outlook on expanding into other Emirates and exploring opportunities in different markets within the Middle East.
How do you plan to fund Eywa?
The project will be primarily funded through private investments, with a minimal amount of bank loans.
Do you plan to launch more luxury hotel apartment projects in the UAE?
The launch of new luxury hotel apartment projects depends on the location of the land. Each project requires a unique approach and development plan based on its specific location and environment.
What is your outlook on the real estate market in the UAE, particularly Dubai, over the next two years?
The UAE is similar to Switzerland in its global stature. It is a great country with many entrepreneurial opportunities and remains a secure hub for business. The government’s development plans provide a solid foundation for stable real estate price growth. However, there is still a scarcity of high-quality products in the market.
(Reporting by P Deol; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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