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DUBAI/GULF TIME:
W Capital Real Estate Brokers announced the successful sale of 33 apartments for AED 33.6 million in the STAX project in Jumeirah Village Circle, developed by Pasha One. The sale underscores the continued strong momentum in Dubai’s real estate market.
“This achievement confirms that Dubai’s real estate market continues to demonstrate remarkable ability to maintain momentum and resilience in the face of any challenges, despite Iranian attacks targeting UAE territory,” said Walid Al Zarooni, W Capital Real Estate Brokerage CEO.
He added that the figures recorded in recent weeks reflect the market’s strength and the local and international investors’ confidence in the UAE economy and the emirate’s investment environment.
Al Zarooni further stated that Dubai’s real estate market continues to reveal strong signals about investment appeal, reflecting international investors’ confidence in the robust economic environment and institutional stability of the emirate.
“What is happening now is not a market slowdown, but rather a natural transition towards a more rational and selective phase, where investors are focusing more on the quality of projects, developers, and strategic locations. This is a healthy development that enhances the market’s long-term sustainability,” he added.
The CEO pointed out that Dubai remains one of the most attractive real estate markets for global capital, thanks to the absence of property income taxes, on one hand and the freehold ownership for foreigners, and high rental yields compared to other global cities, on the other.
The “STAX” project enjoys a strategic and prime location in one of Dubai’s most prestigious residential areas. The project comprises two towers with a unique, contemporary architectural style that embodies sculptural forms and desert landscapes. With its flowing horizontal lines and calming colors inspired by natural sand, the project has a distinctive identity within Jumeirah Village Circle.
The interconnected design enhances light, ventilation, and privacy, while the landscaped balconies and terraced facades add a dynamic and rich dimension.
Pasha One Real Estate Development announced the launch of its first residential project in Dubai, “STAX” in December 2025, with a total investments of AED 550 million.
Construction works on “STAX” which is scheduled for completion in August 2028, has recently started. The project marks Pasha One’s entry into the Dubai real estate market and reinforces Jumeirah Village Circle’s position as one of the city’s most vibrant and dynamic residential destinations.
The project comprises 528 residential units spread across two towers: 302 units in Tower A and 226 units in Tower B. It offers a variety of options, including studios, one- and two-bedroom apartments, two-bedroom apartments with maid’s rooms, and three-bedroom duplexes. Unit spaces range from 384 to 3,375 square feet, making it suitable for a wide range of clients, from first-time buyers to families and investors. Each unit features spacious, open-plan interiors, floor-to-ceiling windows, and high-quality finishes that balance practicality with contemporary style.
On the ground floor, the STAX project boasts a 40,000-square-foot wellness and leisure hub, offering a social and recreational center with indoor and outdoor gyms, running tracks, yoga and meditation areas, a spa with steam rooms and saunas, and a business center with a co-working space and a multi-purpose hall. Families can enjoy a variety of amenities, including shaded play areas, landscaped patios, and barbecue areas, while leisure facilities include a tranquil river and two rooftop infinity pools with panoramic city views.
Prices start from AED 663,000 for studios, AED 903,000 for one-bedroom apartments, AED 1.44 million for two-bedroom apartments, AED 1.85 million for two-bedroom apartments with a maid’s room, and AED 3.85 million for three-bedroom duplexes. Buyers benefit from flexible payment plans, with the option to include furniture packages starting from AED 35,000.
Pasha One is part of the global BGS Group, established in 1985 and operating in nine countries, with annual sales exceeding AED 3 billion. The company will leverage its strengths – most notably its substantial financial resources and operational expertise in commodities, manufacturing, logistics, and infrastructure – to realize its pioneering vision in Dubai’s real estate market. This vision focuses on innovative projects that raise design standards and build residential communities that combine sustainability, luxury, and creativity.