Loutraki Aussie Real Estate Development, operating under Australia’s Nucorp Constructions, has launched an ambitious luxury residential project in Dubai. The development, known as Santorini Residences, is a model of sustainability, featuring modern specifications that align with environmentally friendly practices. This project marks another addition to Loutraki’s portfolio of global luxury developments, building on their successful projects in Australia, such as Woolley Creek, Rosehill and Parramatta, and Merrilands in Sydney, all of which have been implemented since 2011. The Santorini Residences are expected to be completed by July 2026.
Located in District 2 of Jumeirah Village Triangle (JVT), Santorini Residences is designed as a 22-floor building offering a variety of residential units. The project includes studios, one-bedroom, and two-room apartments, providing a range of options to meet the needs of both families and investors. The development aims to cater to the growing demand for luxury living spaces in Dubai, offering a prime investment opportunity in one of the city’s rapidly developing areas.
Ahmed Karim, CEO and Founder of AMK Vision, the exclusive real estate broker for the project, has revealed that the total value of Santorini Residences is AED 200 million. He emphasized that Dubai is an ideal destination for real estate investment, attracting interest from Europe, America, and other parts of the world. Karim predicts that the emirate will experience significant growth in real estate prices, with an expected annual increase of 5% to 7% in 2024 and 2025. This growth is anticipated to be driven by higher demand than the current supply can accommodate.
Santorini Residences offers not only luxury residential options but also significant investment potential. The project is poised to meet the aspirations of investors and families who are seeking high-end living spaces in a market where demand for luxury properties continues to rise. Loutraki’s focus on sustainability in this development further solidifies its position as a global leader in sustainable real estate. The project represents a significant step towards creating vital, environmentally friendly communities that align with global trends in green construction.
In line with Dubai’s vision for sustainability, Santorini Residences is designed to adhere to the principles of green construction. This initiative supports the emirate’s goal of increasing the proportion of green buildings to 25% by 2030. The project not only aligns with Dubai’s ambitious sustainability goals but also sets a new standard for luxury living that prioritizes environmental responsibility, making it a standout development in the region.
