Close Menu
Dubai.News: Stay Updated With The Latest UAE & Global News
  • World
  • UAE
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • How to in Dubai
  • About Us
What's Hot

How to Experience the Abu Dhabi Grand Prix 2025: The House Brings Golden-Hour Magic to Yas Marina Circuit

October 28, 2025

Sheikh Mohammed Unveils Dubai’s Floating Museum of Art Above Dubai Creek

October 26, 2025

Mubadala Capital Co-Leads $1.375 Billion Series E Funding for AI Infrastructure Firm Crusoe

October 25, 2025
Facebook X (Twitter) Instagram
Dubai.News: Stay Updated With The Latest UAE & Global News
Facebook X (Twitter) Instagram
  • World
  • UAE
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • How to in Dubai
  • About Us
Dubai.News: Stay Updated With The Latest UAE & Global News
  • Home
  • UAE
  • Middle East
  • World
  • Entertainment
Dubai.News » Home - Dubai - Another Dubai Project from 2005 – Lifestyle City – Gets a New Buyer
Dubai

Another Dubai Project from 2005 – Lifestyle City – Gets a New Buyer

More legacy projects from 2005 find ready buyers as Dubai real estate keeps heating up
Dubai News StaffBy Dubai News StaffMay 23, 20242 Mins Read
Share this post Facebook Twitter WhatsApp Email LinkedIn Telegram
Image Credit: WAM

What To Know

  • This area is in Dubailand and in the recent past there has been a lot of development and infrastructure works to support the sort of development the new buyer of Lifestyle City plans to undertake.
  • “Many of these projects had to be auctioned because of previous problems and creditors’ claims,” Fadi Massouh, the CEO of Ai Real Estate, an advisory firm stated, and added that, investors will be wise to do so to acquire large land banks free of any liabilities.
  • The source of Dubai crisis was also identified with the penthouse of ‘Pentominium’ skyscraper site in Dubai Marina that was bought for $100 million and is being developed into a Six Senses by Select Group branded project.

Dubai: As one of the legacy projects that Dubai implemented in the year 2005, this building is receiving another round of facelift.

The ‘Dubai Lifestyle City,’ that was introduced by ETA earlier than has been sold 68 plots for Dh175. 6 million. This area is in Dubailand and in the recent past there has been a lot of development and infrastructure works to support the sort of development the new buyer of Lifestyle City plans to undertake.

However, what was very surprising was that there was not even any competition in the bidding process as there was only one entity that offered to take on the project. Lifestyle City had previously been listed twice, and its previous listing has failed to draw the interest of any bidders. Originally announced in mid-2000s, it was initially developed with a view to become an upper-tier housing project that was planned to be created by a private player. This position could be attributed to the fact that at that time, the freehold sub-market was mainly occupied by Emaar and Nakheel while other private developers were much interested in the tower projects.

Falcon City Sales

The sale of Lifestyle City displays the second divestment on a project that started during the boom period. Earlier the Falcon City development observed that 794 plot has been sold for Dh1. 2000 after the company had floated at Dh2. 5 billion. This development is also sited in Dubailand.

In the contemporary and modernizing society of Dubai specifically in the real estate sector, old projects are being brought anew. Major conversions and reacquisitions are forecast, though, it may make major sense for the new acquirers. Such troubled assets are especially disposed through sales by auctions so that the sellers can off their debts hence the happy sides.

“Many of these projects had to be auctioned because of previous problems and creditors’ claims,” Fadi Massouh, the CEO of Ai Real Estate, an advisory firm stated, and added that, investors will be wise to do so to acquire large land banks free of any liabilities.

It is the third project out of several launched between 2005 and 2008 to be released for auction. The source of Dubai crisis was also identified with the penthouse of ‘Pentominium’ skyscraper site in Dubai Marina that was bought for $100 million and is being developed into a Six Senses by Select Group branded project.

Related news:

12 Must-Do Activities in Dubai This Week: Dining, Art, and Adventure Await Dubai Metro Increases Minimum nol Card Top-Up to AED 50 at Ticket Offices Emirates Dubai 7s Tickets Now on Pre-Sale with Early Bird Discounts Tyga Set to Light Up Dubai’s Coca-Cola Arena This October
Share. Facebook Twitter WhatsApp Email Copy Link
Previous ArticleAbu Dhabi’s Shorooq Eyes $100 Million Fund with South Korean Backing
Next Article Saudi Arabia Woos Electric Flying Taxi Company Archer Aviation
Dubai News Staff
  • Website

Related Posts

Sheikh Mohammed Unveils Dubai’s Floating Museum of Art Above Dubai Creek

October 26, 2025
Read More

Dubai’s RTA to Launch V2X Smart Traffic System Linking Signals Directly to Vehicles

October 24, 2025
Read More

MECES 2025 to Illuminate Dubai with AI-Powered Smart Living Innovations

October 23, 2025
Read More

Buddha-Bar Hotel and Floating Residences to Transform Dubai’s World Islands

October 23, 2025
Read More
Don't Miss
Things To Do

How to Experience the Abu Dhabi Grand Prix 2025: The House Brings Golden-Hour Magic to Yas Marina Circuit

The countdown has begun for one of the UAE’s most anticipated events — the Abu…

Read More

Sheikh Mohammed Unveils Dubai’s Floating Museum of Art Above Dubai Creek

October 26, 2025

Mubadala Capital Co-Leads $1.375 Billion Series E Funding for AI Infrastructure Firm Crusoe

October 25, 2025

Dubai’s RTA to Launch V2X Smart Traffic System Linking Signals Directly to Vehicles

October 24, 2025
Just In

MECES 2025 to Illuminate Dubai with AI-Powered Smart Living Innovations

October 23, 2025

Buddha-Bar Hotel and Floating Residences to Transform Dubai’s World Islands

October 23, 2025

Mariah Carey Set to Return to Abu Dhabi for Saadiyat Nights 2026

October 23, 2025

OpenAI Launches ChatGPT Atlas — A Revolutionary AI-Powered Web Browser

October 22, 2025

Subscribe to Updates

Get the latest updates from Dubai News.

Explore

UAE

  • Crime
  • Education
  • Emergencies
  • Expo City Dubai
  • Environment
  • Government
  • Legal
  • Transport
  • Weather
  • Opinion

World

  • Africa
  • Asia
  • Americas
  • Europe
  • Gulf
  • MENA

Business

  • Auto
  • Aviation
  • Corporate
  • Economy
  • Energy
  • Finance
  • Markets
  • Property
  • Tech
  • Cryptocurrency
  • Telecom

Sports

  • Cricket
  • Football
  • F1
  • Golf
  • Horse Racing
  • Tennis
  • Local Sports

Entertainment

  • Gaming
  • Movies
  • OTT
  • Music
  • Local Events
  • Things to do in UAE
About Us

Dubai.News is an independent media platform dedicated to capturing the pulse of Dubai — from innovation and finance to culture, lifestyle, and global influence.

Our mission is to tell the stories shaping the world’s most dynamic city — connecting its vision to readers across the Middle East, Africa, and beyond.

Facebook X (Twitter) Instagram
Dubai.News: Stay Updated With The Latest UAE & Global News
  • Home
  • UAE
  • Middle East
  • World
  • Entertainment
A Fame By Sheeraz INC. Media Company. 8367 West Sunset Blvd, West Hollywood, CA 90069

Type above and press Enter to search. Press Esc to cancel.