Thursday 05, July 2018 by William Mullally

Damac's first Shari'ah-compliant offering near completion

“Ghalia is a special project for DAMAC, as the tower offers residents the option to have their furnished apartments fully serviced,” said Ali Sajwani, General Manager of Operations at DAMAC Properties.

  

DAMAC Properties announced that its first Shari'ah-compliant furnished tower, Ghalia, has entered the final stages of completion. The one million-square-foot project is located in the heart of the Jumeirah Village Circle community and features 727 furnished luxury apartments.

“Ghalia is a special project for DAMAC, as the tower offers residents the option to have their furnished apartments fully serviced,” said Ali Sajwani, General Manager of Operations at DAMAC Properties.

“Furthermore, Ghalia caters to our growing Muslim customers who are seeking luxury living that also complies with Sharia laws. DAMAC strives to provide dream homes and unique living concepts for customers from around the world, and we are thrilled to be completing the tower in 2018, with handover of units starting near the end of the year. “

Ghalia is developed and will operate in alignment with the principles of Shari'ah, according to DAMAC, offering residents and visitors separate leisure amenities for men and women, including separate dining facilities, gymnasium and swimming pools. Ghalia also offers a mix of one, two, and three-bedroom furnished apartments, and caters to the growing demand for Shari'ah-compliant luxury living.

Muslim consumers are expected to make up 26 per cent of the global population by 2030, driving demand for Halal lifestyle products across all sectors, including real estate.

 

Features & Analyses

Wealth Management Why is there no inflation?

  Mark Burgess, Deputy Global CIO & CIO, EMEA, Columbia Threadneedle Investments, writes about one of the biggest questions… read more