Avenew Development

Introduction & Executive Overview

Avenew Development is a dynamic and forward-thinking real estate developer based in Dubai. Founded in 2024 by co-founder Rasha Hassan, the company's mission is to redefine luxury living by crafting exclusive, high-end communities that seamlessly blend modern elegance, technology, and sophisticated design. Avenew is not just about building properties; it's about curating a lifestyle and creating an emotional connection to the spaces it develops. The company's strategic focus is on premium locations and off-plan projects, positioning it as a key player in Dubai's burgeoning real estate market. With a deep commitment to quality and a forward-looking approach, Avenew aims to set new standards for inspired living in Dubai, attracting both end-users and investors who seek long-term value and a refined lifestyle.

A Short History of the Brand

Avenew Development was born in Dubai in 2024, co-founded by Rasha Hassan with a vision to revolutionize residential living. The company was founded on the philosophy that a home should be more than a structure—it should be a cherished experience. Avenew's leadership, which includes co-founder Issam Galadari, brings over 20 years of combined industry experience, with a focus on creating communities that promote social connection and well-being. The company's foundation is also rooted in the legacy of the Libyan company Burger Group, reflecting a history of quality and authenticity. Avenew quickly distinguished itself by integrating cutting-edge technology and art-inspired design into its core identity, aiming to create spaces that transcend ordinary expectations and stand the test of time.

Flagship and Upcoming Projects

Avenew Development has a clear focus on key growth areas in Dubai, with a portfolio of projects that cater to the luxury and mid-market segments.

Flagship Projects:

Rena: Located on the prestigious Dubai Islands, Rena is a premium beachfront development. It is a delicate glass residence designed for those who seek coastal serenity. The project includes apartments, townhouses, and penthouses, with a handover planned for Q4 2027.
Avenew 888: Situated in the rapidly expanding Dubai South district, Avenew 888 is a visionary, community-focused development. The first phase, MODO, was launched with a value of over AED 1.3 billion. It offers a mix of apartments and duplexes and is strategically located near Al Maktoum International Airport. The handover is set for Q1 2028.

Upcoming Projects:

Shoaq: Another project on the Dubai Islands, Shoaq offers apartments with a handover expected in Q4 2027.
Selina: Located on the Palm Deira, Selina is an upcoming project that is set to be announced soon.

2024-2025 Performance Highlights

As a newly established company in 2024, Avenew Development's initial performance has been characterized by strategic project launches and a strong market entry. Key highlights from this period include:

Successful Launch of Avenew 888: The first phase of this flagship project, MODO, was successfully launched with a project value exceeding AED 1.3 billion. This demonstrates strong investor confidence in Avenew's vision and its choice of strategic locations.
Strategic Market Positioning: By targeting both the high-end luxury market with projects like Rena and the more accessible mid-market with Avenew 888, the company has diversified its portfolio and appeal.
Off-Plan Sales Growth: The company has capitalized on Dubai's robust off-plan market, which offers lower entry prices and significant capital appreciation potential.
Emphasis on Technology and Design: Avenew's commitment to integrating smart home features and sustainable systems has resonated with modern buyers, enhancing the value and appeal of its properties.

Market Metrics Buyers & Investors Should Track

For prospective buyers and investors, tracking specific real estate metrics is crucial for making informed decisions. Here are some key metrics to monitor in relation to Avenew's projects and the broader Dubai market:

Capitalization Rate (Cap Rate): This metric measures the potential return on investment for a rental property. Avenew's mid-market units, such as those in Avenew 888, are positioned to offer strong rental yields.
Capital Appreciation: Off-plan projects in developing areas like Dubai South and Dubai Islands are expected to see significant value growth as the districts mature. Tracking the price increase of similar properties in these zones will be a key indicator.
Rental Yields: The annual return on investment from rental income. In Dubai, studio and one-bedroom apartments can see rental yields of up to 12%, while villas may yield around 7%.
Loan-to-Value (LTV) Ratio: For buyers financing their purchase, the LTV ratio is a crucial metric that determines the amount of leverage available and the required down payment.
Vacancy Rates: A low vacancy rate indicates strong rental demand. Projects with attractive amenities and strategic locations, like Avenew's, tend to have lower vacancy rates and higher rental premiums.

Why Investors Like Avenew Development

Avenew Development holds a strong appeal for investors due to several strategic advantages:

Strategic Locations: The company's projects are situated in key growth corridors of Dubai, such as Dubai South and Dubai Islands, which are backed by significant government infrastructure investments, including the expansion of Al Maktoum International Airport.
Investor-Friendly Payment Plans: Avenew's off-plan projects, such as Avenew 888, offer favorable payment structures, often with a 60% construction and 40% on-handover split. This provides excellent cash flow management and allows for capital appreciation during the build phase.
High-Growth Potential: Investing in off-plan developments in emerging districts provides an opportunity for substantial capital appreciation, with projections suggesting a 20% increase by 2030 in areas like Dubai South.
Local Expertise: Unlike some international developers, Avenew's Dubai-based foundation gives it a crucial advantage in understanding local market dynamics, design preferences, and community integration.
Lifestyle-Oriented Amenities: Avenew's projects are designed with modern living in mind, featuring amenities like co-working spaces, fitness centers, and pet parks. These features not only enhance the resident experience but also increase rental premiums and reduce vacancy.
Tax-Free Environment: As with all real estate investments in Dubai, Avenew's properties benefit from the city's tax-free environment, including zero annual property taxes, rental income taxes, and capital gains taxes.

Practical Guidance for End-Users

For those looking to purchase a home for personal use, Avenew Development offers properties that prioritize a high quality of life. Here is some practical guidance:

Focus on Lifestyle and Amenities: Avenew's projects are designed to create a "community" feel. Consider how the on-site amenities, such as gyms, pools, and co-working spaces, align with your daily routine and lifestyle needs.
Visit the Showroom: While buying off-plan, it is essential to visit the developer's showroom or sales center to see models and material samples. This provides a tangible sense of the quality and design.
Understand the Handover Timeline: Be prepared for the handover date, which can be several years in the future for off-plan projects. Avenew's handovers are typically planned for Q4 2027 and Q1 2028.
Review the Payment Plan: Ensure the payment plan, including the initial down payment and subsequent installments, fits within your financial capacity.
Consult with a Real Estate Expert: Engage with a reputable real estate agent who specializes in off-plan properties in Dubai. They can provide unbiased advice, help you navigate the process, and offer insights on the developer's reputation.

Outlook 2025-2030 for Avenew Development

The future outlook for Avenew Development is exceptionally strong, driven by its strategic alignment with Dubai's long-term vision and its own commitment to innovation.

Alignment with Dubai Vision 2030: Avenew is well-positioned to benefit from Dubai's Vision 2030, which includes massive infrastructure investments, population growth projections to 5.8 million, and a growing emphasis on sustainability and smart living.
Continued Growth in Key Locations: The company's focus on Dubai South and Dubai Islands will place it at the center of future real estate demand. As these areas mature and new infrastructure comes online, Avenew's properties are expected to see significant capital appreciation.
Expansion of Project Portfolio: With projects like Shoaq and Selina in the pipeline, Avenew is likely to expand its presence and product offerings, catering to a wider range of buyers and investors.
Technological Integration: The company's commitment to integrating smart technology and sustainable features will ensure its developments remain relevant and highly desirable in a market increasingly focused on modern, eco-friendly living.
Long-Term Value Creation: By focusing on quality, thoughtful design, and a community-centric approach, Avenew is building not just homes but lasting value for its residents and investors. The brand's reputation for excellence and attention to detail will be a key driver of its success in the coming years.