Dubai, UAE – Meraas, part of Dubai Holding Real Estate, has awarded a construction contract worth AED340 million to Al Sahel Contracting for the new Riwa phase of Madinat Jumeirah Living, with completion targeted for the third quarter of 2027, the company said.
The project adds another off-plan cluster to Madinat Jumeirah Living off-plan apartments at a time when Dubai’s off-plan sales are accounting for more than two-thirds of residential transactions by volume and value.
The Riwa scheme will comprise three mid-rise buildings of 10 storeys each, bringing 244 premium units to the market, including one- to three-bedroom apartments and a four-bedroom penthouse, according to the developer. The buildings sit within one of Dubai’s first freehold communities in Jumeirah, opposite Burj Al Arab, which has become a magnet for both end-users and yield-focused buyers.
Details Of The Riwa Contract
Meraas said the AED340 million award to Al Sahel Contracting reinforces a long-running partnership between the two firms, with Al Sahel nearing completion of the fifth phase of Madinat Jumeirah Living after delivering four earlier phases. The continuity of contractor and developer is likely to reassure buyers of construction visibility and delivery timelines on Madinat Jumeirah Living off-plan apartments, particularly as project launches accelerate across Dubai.
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The Riwa residences are designed with contemporary façades that echo the community’s modern-heritage aesthetic, alongside light-filled interiors, higher-spec finishes and layouts positioned for family and professional occupancy, the company said. These features align with the wider shift in Dubai’s mid- to upper-tier apartment segment, where buyers increasingly seek walkable, amenity-rich communities close to established coastal neighbourhoods rather than purely speculative locations.
Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said, “Riwa represents the latest chapter in the evolution of Madinat Jumeirah Living, one of Dubai’s most desirable addresses. It encapsulates the city’s ambition to create extraordinary homes that bring together design excellence, comfort and community spirit. This milestone highlights our commitment to shaping neighbourhoods that inspire pride and belonging.”
Off-Plan Demand And Price Momentum
Off-plan schemes such as Madinat Jumeirah Living off-plan apartments are riding a multi-year upswing in Dubai, with off-plan transactions representing about 71% of home sales volume and 72% of value in the third quarter of 2024, according to Knight Frank. Analysts link this strength to flexible payment plans, a surge in project launches and sustained inflows of high-net-worth individuals, particularly into well-located coastal and master-planned communities.
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Average residential prices in Dubai rose about 19% in 2024, with apartments also posting high-teens growth, Knight Frank estimates. In Madinat Jumeirah Living and the surrounding Jumeirah corridor, brokers report robust resale and leasing demand supported by proximity to schools, hospitals, hospitality and retail, with typical gross rental yields on similar apartments in the community quoted in the 4.5% to 5.5% range.
Why Madinat Jumeirah Living Appeals To Indian Buyers
For Indian buyers, Madinat Jumeirah Living off-plan apartments combine freehold ownership in a coastal, villa-dominated district with brand-backed development and a clear handover timeline. The area’s established hospitality ecosystem, anchored by Madinat Jumeirah and Burj Al Arab, offers both lifestyle upside and short-stay rental potential, a combination that has underpinned Indian demand in several nearby prime communities.
At the same time, recent changes to the UAE Golden Visa framework are nudging Indian investors to move from residency-driven purchases toward value-led strategies that emphasise location, developer track record and long-term income or capital growth, according to market experts quoted in Indian and UAE media. In this context, projects backed by Dubai Holding Real Estate and delivered in phases, such as Madinat Jumeirah Living off-plan apartments, may stand out for investors focusing on governance, delivery risk and community depth.
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