AVENEW Development
AVENEW Development is a Dubai-based boutique off-plan residential property developer founded in 2024, with 677+ residential units across Dubai Islands and Dubai South. It serves luxury end-users and international investors via direct sales, branded residences partnerships with Marriott, Hilton, and Cheval Collection, and a Motor City commercial joint venture.
- Company typePrivate
- Founded2024
- HeadquartersDubai, United Arab Emirates
- Headcount1,001–5,000
- GTM typeB2C
- OfferingServices
What AVENEW Development does
AVENEW Development is a Dubai-based boutique off-plan residential property developer founded in 2024 by Rasha Hassan. The company designs, develops, and sells residential projects across Dubai's emerging growth corridors — primarily Dubai Islands, Dubai South, and Motor City — targeting both end-user luxury buyers and international investors seeking UAE freehold property, including through Golden Visa-eligible purchases above AED 2M. Its portfolio spans 677+ confirmed residential units across six projects (Rena, Silena, Lia, Shoaq, and Cheval Residences on Dubai Islands; AVENEW 888 MODO in Dubai South), plus a commercial joint venture (One District) in Motor City. The unit mix ranges from 1-bedroom apartments to townhouses, duplexes, and penthouses, with starting prices from AED 800K to over AED 2.5M. Revenue is generated through direct off-plan unit sales on staged payment plans — typically 10% at booking, 40% during construction, and 50% on handover — backed by RERA approvals and escrow-protected buyer payments, with revenue recognized on a percentage-of-completion basis.
The go-to-market motion is direct-to-consumer: AVENEW sells exclusively through its website (avenewdevelopment.ae), 800-AVENEW hotline, dedicated property consultants, and international roadshows in Beijing, London, and Moscow, without intermediary agents. The company has layered a branded residences strategy atop its core residential portfolio through partnerships with Marriott International (St. Regis Dubai Islands), Hilton (Waldorf Astoria Dubai Islands — 150 hotel rooms plus 120 branded residences), and Cheval Collection (99 serviced residences with Wadeen Developers), enabling entry into the luxury serviced-living segment at premium price points. Leadership includes former Emaar Properties CEO Issam Galadari as Managing Partner alongside founder Rasha Hassan, lending institutional credibility.
Strategically, AVENEW has executed three major expansions within roughly six months: commercial real estate (Motor City JV with Kora Properties/APPCORP Holding), branded residences (Marriott, Hilton, Cheval), and Dubai South mass-market positioning (AVENEW 888 MODO at AED 1.3B GDV). Construction is contracted to Al Tamayoz Contracting (Rena) and Al Masaood National General Contracting (AVENEW 888). Recognition includes Top 100 Real Estate Developers of 2025 and Top 100 Luxury Residences 2025 (Rena) from Luxury Lifestyle Awards. No external equity funding, PE/VC backing, or parent company is disclosed; the company operates as an independent, founder-led LLC (AVENEW Real Estate Development LLC) with headcount reported at 1001-5000 (likely inclusive of project and contractor workforces).
AVENEW Development firmographics
Firmographics- Name
- AVENEW Development
- Legal name
- AVENEW Real Estate Development LLC
- Website
- https://avenewdevelopment.ae
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- AVENEW Development is a Dubai-based boutique off-plan residential property developer founded in 2024, with 677+ residential units across Dubai Islands and Dubai South. It serves luxury end-users and international investors via direct sales, branded residences partnerships with Marriott, Hilton, and Cheval Collection, and a Motor City commercial joint venture.
- Ownership category
- akta.pro rank
AVENEW Development industry classification
Industry- Product category
- Residential Real Estate Development
- NAICS
- Residential Building Construction (23611), Residential Building Construction (2361)
- SIC
- Real Estate (6500)
- akta.pro primary industry
- Residential Affordable Housing Development & Construction (IMAFABAI)
Keywords
Where AVENEW Development is headquartered
LocationHeadquarters
- HQ city
- Dubai
- HQ country
- United Arab Emirates
- HQ region
- Middle East
Offices1 record
Markets served
AVENEW Development business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Personnel, Marketing or Sales, Others
Revenue model
- Off-Plan Residential Property Sales: AVENEW Development generates revenue through the direct sale of off-plan residential properties across its project portfolio. Properties include apartments, townhouses, duplexes, and penthouses in Dubai Islands and Dubai South. Revenue is realized at point of sale with staged payment installments tied to construction milestones, culminating in full payment upon handover. The company operates with RERA-approved projects and escrow-protected buyer payments.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Hybrid | Multi-year contract | Standard 50/50 Payment Plan (10% down, 40% during construction, 50% on handover) |
| Hybrid | Multi-year contract | Avenew 888 — Flexible 60/40 Payment Plan |
| Hybrid | Multi-year contract | Rena — 60/40 Payment Plan |
| Unit Pricing | Multi-year contract | Lia — 50/50 Payment Plan starting from AED 2.2M |
| Unit Pricing | Multi-year contract | Silena — 50/50 Payment Plan, handover Q2 2028 |
| Other | Multi-year contract | One District Motor City — Commercial District |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
AVENEW Development product offering
Product offeringCore offering
AVENEW Development is a boutique Dubai-based real estate developer that creates off-plan residential properties, including apartments, townhouses, duplexes, and penthouses, in Dubai Islands, Dubai South, and Motor City. The company sells directly to end-users and international investors with RERA-approved projects, escrow-protected payments, and flexible installment plans tied to construction milestones. AVENEW also partners with hospitality brands (Marriott International, Hilton, Cheval Collection) to develop branded residences with hotel-style services.
Differentiator
Problem solved
Functional benefit
Products and services
- AVENEW 888 (MODO Phase 1) Five-building residential community in Dubai South with 217 units including 1-3 bedroom apartments and duplexes, located minutes from Al Maktoum International Airport, with community amenities and co-living spaces.
- Rena by Avenew Development 64 beachfront residences on Dubai Islands Island B with direct shoreline access, wave-inspired architecture, refined material palette, and flexible 60/40 payment plan starting from approximately AED 2.5M for 1-bedroom units.
- Silena by Avenew Development Boutique beachfront community on Dubai Islands Island B with 137 residences, 1-3 bedroom apartments, duplex townhouses, sky villas, and signature penthouses with handover in Q2 2028.
- Lia by Avenew Development Boutique 82-residence luxury project on Dubai Islands Island A featuring 1-3 bedroom apartments and exclusive penthouses, with 50/50 payment plan starting from AED 2.2M and handover in Q1 2028.
- Shoaq by Avenew Development 78-residence luxury beachfront development on Dubai Islands with apartments, townhouses, and penthouses, with 50/50 payment plan and Q3-Q4 2027 handover.
- Cheval Residences Dubai Islands 99 beachfront serviced hotel residences on Dubai Islands operated under the Cheval Collection brand, comprising 1-3 bedroom apartments with hotel-style services, marking Cheval's first branded residences entry. Completion anticipated in 2029.
- One District (Motor City) Integrated commercial district in Motor City adjacent to Dubai Autodrome, comprising six Grade A office buildings, a hospital, and an integrated retail mall, developed as AVENEW's first commercial project.
- The St. Regis Residences at Dubai Islands Branded waterfront residences at Dubai Islands operated under the St. Regis brand, offering waterfront living and leisure amenities for the modern connoisseur, reflecting St. Regis's legendary service standards.
- Waldorf Astoria Dubai Islands and Residences Luxury hotel and branded residences on Dubai Islands under the Waldorf Astoria brand, featuring 150 guest rooms and suites plus 120 branded residences, marking AVENEW's second branded residence on Dubai Islands.
Quantifiable outcome
- Over AED 200 billion in revenue generated by founder Rasha Hassan through prior work with leading Dubai developers
- +2 more outcomes
Companies that use AVENEW Development
Customer profileSegments3 records
Ideal customer profiles3 records
AVENEW Development technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AVENEW Development partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered flagship and core.
- Cheval CollectionflagshipAVENEW Development and Wadeen Developers partnered with UK-based Cheval Collection to launch Cheval Residences Dubai Islands — Cheval's first entry into the branded residences market. The exclusive beachfront development on Dubai Islands comprises 99 serviced hotel residences operated by Cheval Collection, marking Cheval's third property in Dubai and fifth in the Middle East, with anticipated completion in 2029. The partnership brings Cheval's five-star hospitality service standards to private residential ownership.
- Wadeen DeveloperscoreWadeen Developers is a co-development partner with AVENEW Development for the Cheval Residences Dubai Islands project. Wadeen is a premier real estate developer with a strong presence in Qatar and a growing footprint in Dubai, specializing in bespoke residential, commercial, and hospitality projects that combine innovative design, sustainability, and modern living.
- Kora PropertiescoreAVENEW Development entered a strategic joint venture with Kora Properties to develop a new integrated commercial district in Motor City, adjacent to the Dubai Autodrome. The partnership combines AVENEW's design-led development philosophy with Kora's fully integrated real estate platform backed by APPCORP Holding. The masterplan will comprise six Grade A office buildings, a hospital, and an integrated retail mall — a fully self-sustaining business and lifestyle destination.
- HiltonflagshipAVENEW Development signed an agreement with Hilton to open Waldorf Astoria Dubai Islands and Waldorf Astoria Residences Dubai Islands — introducing the iconic luxury brand to Dubai Islands. The project features 150 guest rooms and suites plus 120 branded residences. This is AVENEW's second branded residence on Dubai Islands and sixth overall development within the master-planned waterfront community.
- Al Masaood National General Contracting LLCcoreAVENEW Development awarded the main construction contract for AVENEW 888 in Dubai South to Al Masaood National General Contracting LLC. The appointment reflects a shared dedication to precision, quality, and thoughtful execution. Al Masaood brings extensive expertise in delivering complex residential projects to the highest standards, with a strong track record across landmark developments in the UAE.
- Marriott InternationalflagshipAVENEW Development signed an agreement with Marriott International to develop The St. Regis Residences at Dubai Islands — AVENEW's debut into branded residences. The project offers waterfront living and leisure amenities designed for the modern connoisseur, reflecting St. Regis's legendary service standards. The partnership marks AVENEW's first branded residence and represents a strategic expansion into the luxury serviced living segment.
- Al Tamayoz Contracting Co. LLCcoreAVENEW Development partnered with Al Tamayoz Contracting Co. LLC to develop Rena, an exclusive beachfront residential project on Dubai Islands. Al Tamayoz, established in 2014, is a leading UAE contractor known for high-quality developments, building construction, maintenance, and fit-out projects. Their expertise ensures Rena will be built to the highest industry standards with superior quality and craftsmanship.
Scale indicators5 records
Recent moves10 records
Expansion highlights5 records
AVENEW Development competitors and assessment
Company assessmentBroad incumbents
- Meraas: Meraas is a Dubai Holding-affiliated lifestyle developer with projects spanning City Walk, La Mer, Bluewaters, and JBR. It is a comparable lifestyle-led Dubai developer with branded-residences elements and similar design-driven positioning to AVENEW.
- Nakheel: Nakheel is the master developer behind Dubai Islands, Palm Jumeirah, and other landmark Dubai projects. It is both a critical infrastructure partner to AVENEW (as Dubai Islands master developer) and a broad-incumbent competitor in Dubai's waterfront residential market.
- Emaar Properties: Emaar is Dubai's largest and most established developer, operating across residential, commercial, hospitality, and malls. It is the dominant incumbent benchmark for the Dubai property market and serves as the historical employer of AVENEW's senior leadership (Issam Galadari was former CEO).
- Dubai Properties: Dubai Properties is the real-estate arm of Dubai Holding, with a portfolio spanning residential, commercial, and mixed-use assets including Business Bay, JBR, and DUBAILAND. It is a broad-incumbent peer operating across many of the same Dubai submarkets as AVENEW.
Direct peers
- Ellington Properties: Ellington is a Dubai-based boutique developer focused on design-led, mid-to-upper residential communities with a similar emphasis on architectural integrity and lifestyle positioning. Its boutique scale and emphasis on interiors-driven differentiation closely parallel AVENEW's stated value proposition.
- Binghatti Developers: Binghatti is a Dubai-based boutique luxury developer with a comparable design-led, branded-residences strategy, including partnerships with Mercedes-Benz, Bugatti, and Jacob & Co. It is one of the closest direct comparables to AVENEW in terms of scale, boutique positioning, and aggressive branded-residence expansion in Dubai.
- DAMAC Properties: DAMAC is Dubai's leading luxury developer and the most aggressive branded-residences operator in the market, with partnerships spanning Aston Martin, Tiger Woods, Paramount, and Versace. It is a direct comparable to AVENEW in terms of luxury positioning, branded-residence strategy, and international investor outreach.
- Deyaar Development: Deyaar is a Dubai-listed mid-tier developer with residential and commercial exposure across Dubai. While larger and more diversified, it shares AVENEW's Dubai-centric focus and residential product mix at comparable price points.
- MAG Property Development: MAG is a Dubai-based residential developer with a comparable mid-to-upper market positioning and multi-project portfolio across Dubai growth corridors. Its scale and project mix overlap with AVENEW's residential focus.
Regional players
- Aldar Properties: Aldar is Abu Dhabi's largest listed developer, with growing Dubai exposure and a comparable luxury and branded-residences strategy. It is a regional peer operating in the same UAE market but primarily across the Abu Dhabi-Emirate corridor rather than Dubai-specific locations.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks3 records
Key highlights7 records
Customer concentration
AVENEW Development social profiles
Digital presenceAVENEW Development financial estimates
Financial estimateRevenue estimate
Valuation estimate
AVENEW Development leadership team
Management profileNumber of profiles
Profiles2 records
AVENEW Development funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AVENEW Development M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AVENEW Development
What does AVENEW Development do?
AVENEW Development is a boutique Dubai-based real estate developer that creates off-plan residential properties, including apartments, townhouses, duplexes, and penthouses, in Dubai Islands, Dubai South, and Motor City. The company sells directly to end-users and international investors with RERA-approved projects, escrow-protected payments, and flexible installment plans tied to construction milestones. AVENEW also partners with hospitality brands (Marriott International, Hilton, Cheval Collection) to develop branded residences with hotel-style services.
Is AVENEW Development a public or private company?
AVENEW Development is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was AVENEW Development founded?
AVENEW Development was founded in 2024. It employs 1,001 to 5,000 people.
Where is AVENEW Development based?
AVENEW Development is headquartered in Dubai, United Arab Emirates, in the Middle East region.
How does AVENEW Development make money?
One revenue line is on record: off-Plan Residential Property Sales.
Who are AVENEW Development's main competitors?
Broad incumbents on record are Meraas, Nakheel, Emaar Properties and Dubai Properties. Direct peers are Ellington Properties, Binghatti Developers, DAMAC Properties, Deyaar Development and MAG Property Development. Aldar Properties is listed as a regional player.
Does AVENEW Development have an API?
No public API is recorded for AVENEW Development.
What industry is AVENEW Development in?
AVENEW Development's product category is Residential Real Estate Development. Its primary akta.pro industry code is IMAFABAI, Residential Affordable Housing Development & Construction. Its NAICS code is 23611 and its SIC code is 6500.