In a move that signals strong confidence in Dubai’s commercial real estate sector, Prospect – a leading Dubai-based investment and advisory firm – has formed a strategic partnership with Mulk Properties (a subsidiary of multinational conglomerate Mulk International) and One Broker Group (OBG) to develop The LX, a premium AED 350 million commercial development in Arjan.
Key Project Highlights:
📍 Prime Location: Heart of Arjan, with direct access to Sheikh Zayed Road
🏢 Unique Offering: 71 boutique office and retail units with premium finishes
📈 Market Potential: Targets Dubai’s 24% YoY commercial growth (2024: 89.9B AED transactions)
🔄 Future-Ready Design: Integrated F&B hub, spacious balconies, modern workspaces
🏗️ Completion: Targeted for Q1 2027
Strategic Significance
The partnership brings together:
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Prospect – Specialists in high-growth real estate investments
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Mulk Properties – Global developers with projects across 4 continents
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OBG – Award-winning brokerage with over AED 7B in sales
“This collaboration allows us to address the critical shortage of quality office spaces in emerging districts,” said Rohit Verma, Co-founder of Prospect. “Arjan’s central location and growth trajectory make it ideal for a project like The LX.”
Nawab Shaji Ul Mulk, Chairman of Mulk International, added: “After successful developments in Zimbabwe and Ajman, we’re excited to enter Dubai’s booming commercial sector with this landmark project.”
Why This Matters
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Dubai’s commercial construction sector is projected to grow to AED 207B by 2030 (CAGR: 4.7%)
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Arjan is emerging as a key mixed-use hub, with growing demand for flexible, high-quality workspaces
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The LX fills a gap for boutique offices and retail in underserved locations
Umar Bin Farooq, CEO of OBG, noted: “Businesses want elevated, functional spaces – The LX delivers exactly that, making it a compelling investment opportunity.”
With construction underway, The LX is poised to become a benchmark for modern commercial developments in Dubai.
