Staff Report
Dubai, UAE
DHG Properties, a Swiss developer with over three decades of experience, has completed 15 percent of construction of its latest project, Helvetia Residences, in Jumeirah Village Circle. The project is on track for a Q2 2026 delivery, with over 50 percent of 430 units sold.
The UAE’s construction sector has experienced robust growth, with a 54 percent increase in Q2 activity as per RICS Global Construction Monitor. Project values surged from US$31 billion in 2022 to US$87 billion in 2023, driven by economic diversification and investment. The sector is expected to grow by 4.6 percent in 2024, bolstered by significant private housing investments and an 8.3 percent increase in the government’s infrastructure budget, totalling US$708 million. ResearchAndMarkets.com noted that from 2025 to 2028, annual growth is projected at 3.8 percent, supported by continued investments in housing, transport, and renewable energy.
Growing interest in Helvetia Residences reflects a surge in Dubai’s real estate market, with August 2024 transactions reaching Dh8.6 billion. According to The Real Estate Report, the off-plan segment led at Dh5.93 billion or 69.2 percent. In contrast, ready properties accounted for Dh2.63 billion, just 30.8 percent of total transactions. Helvetia Residences’ infrastructure phase is set for completion by December 2024. Designed by European architects, the development aspires to meet high global quality standards seen in projects across Switzerland and Serbia.
Miloš Antić, Vice Chairman of DHG Holding & Founder of DHG Properties, said, “Helvetia Residence is a milestone development for DHG. Marking our entrance into the UAE and rising as our flagship project in Dubai’s flourishing real estate market, the investment interest we’ve received, alongside our standard for continued excellence, are fuelling our construction efforts. While our focus remains on delivering Helvetia in a timely manner and in parallel to the quality of our developments overseas, we remain committed to bolstering Dubai’s overall landscape and MENA’s US$3.9 trillion project pipeline with discussions for future developments underway and new projects set to be announced soon.”
Helvetia Residences offers European flair, enhancing DHG’s portfolio. With 30 years of experience, DHG has completed 300 projects and has more than 1,500 underway, along with developments spanning 2.5 million square metres.
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Also read: DHG Properties signs Dh250 mn contract with Aroma Contracting to construct Helvetia Residences
