2019 CW Power 100: Saleh Abdullah Lootah of Dubai's LRED is #79
CEO of Lootah Real Estate Development (LRED) secures a place in CW's annual ranking of industry leaders
The chief executive officer of Lootah Real Estate Development (LRED), Saleh Abdullah Lootah, has been busy over the past 12 months as he charts the growth of the Lootah Group company in the UAE.
In June 2019, LRED launched the Senaeyat Industrial Hub project, which comprises pre-built warehouses in Dubai Industrial Park, close to the Expo 2020 Dubai site and Al Maktoum International airport. The property’s units will be sold under a lease-to-own agreement model.
LRED is also set to launch Living Garden homes, comprising studio and one-bedroom units spanning between 28m2 and 111m2, in the Dubai’s Jumeirah Village Circle (JVC) residential neighbourhood, close to the Sheikh Mohammed bin Zayed and Al Khail roads.
Commenting on the project during its launch this May, Lootah described Living Garden as “a reaffirmation of Lootah’s commitment to be the top
lifestyle developer and leader of innovation in the real estate development sector”.
He added: “Lootah remains steadfast to its commitment to providing the highest standard of living for its residents without missing on affordability.”
The project’s launch follows LRED’s handover of its other JVC project called the Waves, in January 2019.
The 135-unit affordable housing property was the first project that LRED handed over in 2019, adding to its portfolio of real estate assets in Dubai’s popular JVC community.
Apartments in the Waves range from studios of 45m² to two-bedroom units and loft apartments measuring up to 185m². The apartment building is equipped with a swimming pool and a gym, shaded parking spaces, and a spacious lobby.
Check out the 2019 Construction Week Power 100 issue here.