By Saifur Rahman
Bricks N Woods (BNW) Developments, a Dubai-based new property developer, is planning to roll out 18 new real estate projects including a master-planned community collectively worth upto Dh40 billion (US$11 billion) this year, Gulf Property can reveal.
Of these, the company is going to develop seven residential projects in Al Marjan Island and a further seven projects in RAK Central in the emirate of Ras Al Khaimah. It is preparing to launch two projects in Al Furjan, one in Jumeirah Village Circle and one in Dubai Island, a top company official told Gulf Property in an interview.
The development value of the master-planned community is estimated to be around Dh16 billion, Ankur Aggarwal, Chairman and Founder of Bricks N Woods (BNW) Developments, part of the BNW Group, tells Gulf Property in an exclusive interview.
Bricks N Woods Real Estate, which started its journey as a real estate brokerage firm in 2021, generated substantial wealth that is now being invested in developing residential projects. The company last year launched Aqua Arc in Al Marjan Island – that is currently being developed.
Famous Bollywood actor Vivek Oberoi is a Co-Founder and Managing Director of the company who is an active partner and works tirelessly with the team management in day-to-day activities.
“These projects will have inventory value of Dh10-12 billion and we are going to launch these in 2025,” Ankur Aggarwal says.
“We are also working on to develop a master-planned community that will have inventory value of Dh16 billion and we will announce it when we finalise the project perhaps later this year. So, in total, our project portfolio value could range anywhere between Dh36 to Dh40 billion – for the next three years.
“These new projects will be sold and developed over the next three years – nearly doubling the average monthly sale volume. Which means, we will achieve a monthly sale of Dh1 billion for the next 36 months, up from Dh550 million a month currently.”
Bricks and Woods Real Estate started its journey as a property brokerage firm with a handful professionals that has now grown to a group of companies that is directly employing 400 professionals including 200 involved in selling properties through 17,000 real estate brokers in the UAE. It has an interesting business model that grows through partnerships.
The group companies are involved in real estate consulting, property development, wealth management, vacation homes, valuation and advisory, financial market advisory, and entertainment.
“At BNW, our mission is clear: bridge the gap between investors and the most lucrative opportunities in the real estate landscape. We’re dedicated to maximising returns on investment (RoI) by providing tailored guidance and in-depth market insights,” he says.
“With our personalised approach, we empower clients to navigate the dynamic real estate market effectively, ensuring they capitalise on the best investments available.”
Ankur Aggarwal brings a wealth of professional experience spanning 17 years to the helm of the group’s real estate venture. With a decade-long career as a Chartered Accountant, Ankur‘s expertise in financial management laid the groundwork for his transition into real estate in 2021.
Driven by a commitment to ethical guidance, Ankur established BNW, swiftly transforming it into a reputable 360-degree real-estate consulting and development organisation boasting a group of multi-talented consultants, Certified Public Accountants (CPAs), and legal advisors. In just 3 years, BNW‘s Assets Under Development (AUD) has reached a striking Dh20 billion.
As the consultancy business expanded, Ankur Aggarwal embarked on exploring development avenues to sustain its growth trajectory. Consequently, in 2023, he established BNW Buying and Selling LLC to procure land and plots in the UAE. In 2024, he initiated BNW Developments, marking the launch of luxurious mixed-use developments in Ras Al Khaimah and Dubai.
The group has architectural design consultancy, project management consultancy, property development arm and real estate brokerage arm – all under its roof. Half of the 400-strong team are involved in project design, project development, construction and project management activities.
“As a brokerage, Bricks and Woods worked with the entire real estate brokerage eco-system to sell properties and share the commission with the brokers,” Ankur Aggarwal explains. “So, we grow with our partners and with the industry. The wealth that we generated by selling properties from 2021 to 2023, we started co-investing in real estate projects with partners that helped us to grow faster.
“With our strong relationship and partnership with the key industry stakeholders including land owners, property brokers, developers, we then started to co-develop projects with partners and sell the inventory through our network of real estate brokers. This way, we would sell the projects faster and with high margin and this would benefit all the stakeholders and make them financially strong.
“We then launched our development arm, BNW Developments one year ago and unveiled our first project – Aqua Arc – a super-luxury project in Al Marjan Island in Ras Al Khaimah, where lots of projects are being developed as we speak.”
Al Marjan Island will host the Gulf region’s first licensed gaming resort when the project gets completed in the next two years. Due to this, demand for properties have accelerated in Al Marjan Island and Ras Al Khaimah in general.
Talking about the real estate market, Ankur Aggarwal says, the property market in the UAE will continue to grow as the demand will outpace supply.
“The UAE property market will jump 3-4 times in the next four years, to catch up with the European real estate market,” Ankur Aggarwal says. “If you take the London market, for example, it is four times higher than the property market in Dubai – in terms of maturity and pricing. However, when it comes to infrastructure, Dubai is on par or in certain cases better than London. So, people will continue to invest in Dubai where it has room to grow for the next foreseeable future. That’s why, we are bullish about the future of the real estate market here and that’s why we will continue to invest here.”
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Also read: UAE real estate records Dh893 bn transactions in four emirates
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