MERED wins ‘New Market Entry’ at Construction Innovation Awards 2023

26 October 2023; Dubai, UAE: MERED, the reputed international real estate developer, has announced its coveted win for the New Market Entry category at the Construction Innovation Awards 2023.

The awards ceremony held at Sofitel Dubai The Palm, MERED received recognition for its impactful entry into the UAE market with the aim of pushing the boundaries in the design and engineering of high-end destinations, and for its cohesive strategic direction aligned with the government’s goals for the country’s development. The company brings together industry expertise from around the world to craft exceptional lifestyles that enrich and prosper customers while remaining relevant for today and tomorrow.

Inspired by the Dubai 2040 Urban Master Plan, MERED masterfully designs and develops unique destinations that become an integral part of customers’ lives. The brand is backed by a global portfolio and strategic real estate partners known for their dedication and expertise in creating cities’ landmarks. Their approach merges innovative design with contemporary urban trends, ensuring unmatched quality and elevated living standards within well-located developments. MERED works closely with world-class architects, contractors, and service providers, bringing its ambitious vision to life.

In 2023, Dubai’s upscale property market continued to shine, generating nearly $850 million (AED3.1 billion) in H1 through the sale of approximately 335 luxury properties by July. Anticipated growth in prime residential property prices is set to soar between 6% and 7.9% for the latter part of 2023, marking the world’s fastest-growing rate. Furthermore, the market saw a significant 40% year-on-year increase in Q3 2023, reaching AED97.5 billion in sales. In H1 2023, apartment sales surged by 63% compared to the previous year, indicating the success of MERED’s forward-thinking luxury real estate strategy.

Starting the UAE chapter in Dubai, MERED announced its first project in Dubai Internet City, an ultra-high-end residential project that is set to become a landmark visible from across Dubai. Located in a key area connected to hotspots like Palm Jumeirah and Dubai Marina, the project showcases top-notch architecture and world-class amenities that spotlight the company’s visionary approach to destination building. With architecture crafted by Pininfarina, a reputed name in architectural design across the world, the project blends technology and aesthetics, presenting a development that will leave its mark on Dubai’s urban scene.

For its flagship project, MERED has teamed up with Mirage, a consultancy known for projects such as the Address Grand Creek Hotel and Bluewaters Island. The combination of Mirage’s deep-rooted local expertise and MERED’s international experience promises a residential project that stands out in terms of high-end finishing and offers a carefully curated range of world-class amenities tailored to the needs of its residents.

“Dubai is a city renowned for its entrepreneurial spirit, visionary leadership, and highly attractive real-estate landscape, making it an opportune time for MERED to enter the UAE market. We are incredibly proud to have been awarded the New Market Entry award,” said Ramil Guliev, CEO of MERED. “It is a testament to our team’s hard work and dedication. We are honored to be recognized in anticipation of the world-class projects we are developing in this dynamic city. “