Dubai, UAE – 31 January 2024: Teraciel Properties, a distinguished couture property developer, is redefining extravagant living through its design-centric philosophy and unwavering commitment to real estate excellence. As an integral part of the Teraciel Group, founded in 1985, this rapidly growing real estate development company stands out as one of UAE industry leader, transcending current market offerings.
In less than five years since its inception, Teraciel Properties has meticulously crafted each property, reflecting its core values. The recent project, The Imperial in Dubai Hills, secured the record for the highest price per square foot for a non-golf view residence last December. The company’s experienced team, guided by the principle of creating homes they would choose to live in, is spearheading Teraciel Properties’ success.
With the UAE market focused on billionaire buyers and having sold 176 homes for $845 million in H2 2023 and 219 premium homes in the past year, analysts predict continued growth in luxury segments reaching 10-13% in 2024, it indicates a rise in demand for super-prime properties worth $30 million and upwards. Teraciel Properties has entered and cemented itself in the country’s luxury real estate sector, effectively catering to discerning clientele with the highest-quality taste. Distinguishing itself by an all-encompassing approach, Teraciel Properties is set to expand on its progress by further establishing a new standard for craftsmanship by sculpting masterpieces that resonate with unparalleled quality. “We are thrilled to expand Teraciel Properties in the UAE market”, said Ujjwal Goel, Director of Teraciel Group.
He continued, “We identified a niche demand in the UAE real estate sector that we believe Teraciel Properties can fill by providing individuals with a discerning taste, with timeless properties and unparalleled quality for the ultimate lifestyle. We have accordingly carved a niche as an exclusive developer catering to individuals who look for the extraordinary with each residence being a manifestation of precision and bespoke artistry. By leveraging our four decades of expertise in Design and Build as a Contractor of Luxury Properties, we ensure a seamless process from concept to completion with the aim to establish a new standard for Project Delivery in terms of craftsmanship, combined with unparalleled quality. At the end of the day, every property we build is a property that I personally design with the aspiration to live in, this ensures that we cut no corners, and only deliver the best. In Dubai, where luxury is synonymous with the city, adopting this mindset as a principle value will continue guiding us as we serve the vast needs of our clientele.”
Dubai’s super-prime market properties valued at $30 million-plus recorded a surge last year, with 56 deals worth $2.3 billion doubling the previous year’s total. Teraciel Properties is now set to further contribute to the ongoing success of UAE real estate that has been witnessed in recent years. Other notable milestones of the company include logging the highest price per square foot for an office that it built and sold in Boulevard Plaza in 2019, for which it broke the same record in 2021 with a second office in the same area. In the coming months, Teraciel Properties will announce future development plans for Dubai that will further bolster not only the country’s luxury real estate sector but the overall market and economy.
For more information, please visit www.teraciel.com.