Rising Costs Amid Market Growth and Competition
The dynamic real estate market of the UAE has seen a rise in tender prices due to increasing raw material costs and more competition, said Shubham Aggarwal, Chairman and Co-owner of The Luxe Developers. Despite the rising costs of projects, Mr. Aggarwal revealed that the company remained committed to partnering with best-in-class contractors and suppliers to continue its deliveries of great quality.
PC: Dubai Daily
La Mazzoni: A Landmark Development on Al Marjan Island
Luxe Developers is expected to hand over La Mazzoni, a 2.3 billion UAE dirham ($626.18 million) residential project on Al Marjan Island in Ras Al Khaimah, by the fourth quarter of 2028. Aggarwal said Al Marjan Island has seen exponential growth, especially after the opening of the Wynn Resort, making it a global lifestyle destination.
Aggarwal commended the immense support provided by RAK authorities and Al Marjan Island’s leadership, which has been pivotal in the success of the company. He further observed that the appeal of Ras Al Khaimah (RAK) is rising with strategic infrastructure developments, economic stability, and an influx of ultra-high-net-worth individuals. All these factors made Al Marjan Island a perfect location for La Mazzoni.
Unique Design and Wellness-Centric Living
The design is headed by renowned architectural firm Dewan Architects + Engineers, which has previously collaborated with The Luxe Developers on their debut project Oceano. La Mazzoni architecture takes inspiration from the fluidity of wind and waves, reminiscent of the RAK coastline.
Lush greenery, thanks to landscape architecture and urban design firm Cracknell, will be one of the defining features of this development. Some of the prominent amenities in the tower include a panoramic rooftop pool, a state-of-the-art wellness center with gym facilities; in addition, there’s a yoga room and a paddle court. A private spa with saunas, hammams, and therapy rooms, and dedicated children’s play areas, round off some of the new developments.
Communal spaces including an outdoor co-working area and a sky deck were incorporated to encourage residents to produce work and imagination through the marriage of luxury with practicality.
Aggarwal reiterated The Luxe Developers’ commitment to delivering high-quality developments amid the UAE’s flourishing real estate market. He noted that the rise in tender prices, driven by increasing material costs and competition, has not deterred the company from prioritizing premium contractors and suppliers.
“We carefully evaluate the contractors’ past work, quality, and reliability to ensure they meet our high standards,” he said, adding that this approach applies across all their projects. The focus on quality ensures that La Mazzoni continues to reflect the brand’s reputation for excellence despite market fluctuations.
Privately Funded for Stability
La Mazzoni is privately funded, giving evidence of The Luxe Developers’ financial security and long-term planning. As a result of this strategy, the company aims at quality while mitigating against the challenges from the rising cost of real estate in the UAE market.
Aggarwal’s focus on quality, strategic location, and market trends has defined The Luxe Developers as the epitome of luxury living in the UAE. The launch of *La Mazzoni* is an effort to consolidate their presence in the high-end real estate market and cater to the growing demand for ultra-luxury residences.
