Dubai has long been known for its impressive skyline and opulent real estate offerings, but a new player on the scene is set to reshape the landscape of affordable housing in the emirate. EssKay Holdings, a Dubai-based business conglomerate, has joined forces with Peace Home Real Estate to establish Empire Developments, a visionary venture dedicated to constructing ready-to-move-in affordable homes across the United Arab Emirates (UAE).
Empire Developments aims to merge the combined expertise of its parent companies, blending residential and hospitality experience with construction and property brokerage backgrounds. This synergy is designed to yield high-quality property assets and competitive returns, ultimately translating into a new realm of affordable luxury for potential homeowners.
At the forefront of Empire Developments’ mission is the creation of mid-luxury yet accessible homes. Beginning in Dubai, the company’s inaugural project, Empire Residence, is nearing the final phases of handover and is located in the desirable Jumeirah Village Circle (JVC) community. This project has already set a precedent, selling out within days of its launch last year and demonstrating the strong demand for quality, affordable housing options in Dubai’s real estate market.
Kamran Ghani, the CEO of Empire Developments, expressed the company’s dedication to both investors and end-users, emphasizing a commitment to a long-term presence in the market. With Dubai’s property market at its peak, the challenge of rising interest rates has become more apparent to both developers and end-users. Ghani believes that expanding and diversifying the property portfolio is the strategic response to these challenges.
Empire Developments is set to unveil key details about Empire Residence soon, providing insights into the project’s design, features, and amenities that align with global standards. Furthermore, the company has an array of other projects in the pipeline for the current year, in addition to a robust regional expansion strategy.
Ahsan Rasheed, CEO of Peace Home Real Estate Group, highlighted the broader mission of Empire Developments in contributing to the affordable housing sector. The aim is to cater to the expanding mid-income and salaried expatriate population in Dubai, offering a pathway for individuals to transition from renting to owning their own homes. Rasheed emphasized the company’s goal of creating projects that are not only luxurious but also on par with international design and living standards while remaining affordable.
Empire Developments is poised to become a significant player in Dubai’s real estate landscape, addressing a critical need for accessible housing solutions. By fusing innovation, quality, and affordability, the company aims to reshape the way people perceive and access homeownership in the UAE. As the real estate market evolves, Empire Developments stands as a beacon of promise for prospective homeowners seeking a harmonious blend of luxury and affordability.