25 Degrees launches in Dubai with its first villa on Palm Jumeirah
CONSTRUCTION NEWS
International entrepreneur and investor Dr David von Rosen has announced the launch of 25 Degrees – a new top-end Dubai-based developer co-founded with a Dubai-based family office – and the completion of its first luxury villa on the Palm Jumeirah.
Having invested more than AED500 million ($136.13 million) of his own private capital in 25 Degrees to date, von Rosen says the business will cater for the growing influx of ultra-high-net-worth individuals to Dubai from Europe and the US who are seeking best-in-class, super prime homes built to high European standards, style, and specifications – which are currently in short supply.
Dr von Rosen, a German national living between Dubai and Switzerland, is an international entrepreneur and investor. He is the founder of several gaming and gambling companies around the world with an annual revenue of over $1 billion and has founded numerous other companies across fashion, insurance and fintech.
Renovate and building new
Named after Dubai’s latitudinal location, 25 Degrees will both renovate existing properties and develop new-builds for sale. The developer has partnered with Sotheby’s International Realty to market its first project.
25 Degrees’ first property, which was completed in January 2024, is a 5,800 square foot private beach villa which has been listed on the market at $16.9 million. The developer’s next two properties will be larger private beach villas, sitting at 10,500 square feet.
25 Degrees has a strategic partnership with real estate project management and consultancy expert Carter Hones Associates. The developer is also partnered with renowned local architects and interior designers.
Luxury beach villa
The first completed luxury beach villa is finished with imported furniture and fittings from prestigious European brands, including Minotti, Panzeri, Baxter and Cattelan Italia.
Premium stone sourced from Italy, Greece, and Brazil has also been integrated into the property in various cuts and finishes. These include backlit Italian white onyx in the entrance hall, backlit oyster stone from Italy in the bar area, and white Calacatta marble from Greece, which is integrated into the kitchen alongside Gaggenau appliances.
The launch comes at a time of surging demand for luxury homes in Dubai, with a Knight King report showing the total number of sales in the city over $10 million grew by 92.4% to 431 sales during 2023 (Zawya). The report also showed that during the first 9 months of 2023, Dubai has already sold more than twice as many homes priced over $10 million than New York, its nearest competitor.
Dubai’s property market is growing rapidly, but much of the focus has been on developing new areas further inland. Von Rosen says 25 Degrees will instead focus on units in mature, attractive, and desirable communities where there is existing infrastructure, such as Palm Jumeirah, where there is a real sense of community – and where homes won’t be surrounded by heavy construction for the foreseeable future.
Ambitious plan
Although Palm Jumeirah is the initial focus for 25 Degrees, von Rosen plans to rapidly expand the business to develop super prime properties throughout other key locations in Dubai, with an ambitious goal of selling 100 properties by 2030.
A 2023 report by Henley & Partners revealed that last year 4,500 millionaires moved to the UAE, making it the second most desirable country for the ultra-wealthy, behind only Australia. These HNWIs, defined in the report as those with at least $1 million in investable wealth, will be the key target market for 25 Degrees.
Dr von Rosen said: “Dubai is the best place to be in the world right now, both in terms of lifestyle on offer and the business opportunities. That’s precisely why high-net-worths from across the globe are flocking here in increasing numbers.
“These elites, particularly those from the US and across Europe, are looking for spacious homes built in European style and to the highest specifications of European design. There’s a historic lack of this type of property in Dubai – and that’s the gap in the market 25 Degrees is filling.
Finest materials
“Each of our properties, whether a new build or renovation, is developed to the highest level of specification, using the finest materials imported from all over the world, finished and detailed to the highest level of luxury and specification. We’re bringing the highest level of European standards, craftsmanship, materials, and finish to our properties. This is what HNWIs have come to expect in other global cities but rarely find in Dubai.
“It’s also been a privilege to be partnered with local industry experts with distinguished track records who have been, and will continue to be, instrumental in 25 Degrees’ success.
“Our first property, a private beach villa, hit the market in January 2024 and will be followed by two larger private beach villas later in the year. Our sole focus is now on scaling the business to hit our ambitious target of selling 100 homes by 2030 in the wider region.”--TradeArabia News Service
