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07 December 2023

Daily Newsletter

07 December 2023

Nine Yards Plus and Jacob & Co to build waterfront residential project

The community is located nearby to various tourist attractions and landmarks.

December 07 2023

Nine Yards Plus, a United Arab Emirates (UAE)-based real estate holding unit of EIH Ethmar International Holding Group has signed a memorandum of understanding with jewellery and watch manufacturer Jacob & Co for a new luxury waterfront residential project in Abu Dhabi.

This project marks the first Jacob & Co-branded residential property in Abu Dhabi, according to a press release issued on Zawya.

The Reem Island Waterfront residential project will offer upmarket apartment units and townhouses.

Construction work is expected to begin next year and to be completed in 2027.

Nine Yards Plus group CEO Ayman Iskander El Gayar said: “We are delighted to have partnered with Jacob & Co to bring a new dimension of luxury and opulence to a premium waterfront destination, on Reem Island, Abu Dhabi.

“This collaboration reflects an ongoing commitment, by Nine Yards Plus Holding, to deliver exceptional living spaces that embody elegance, innovation, and unparalleled craftsmanship.”

Residents will have access to a range of lifestyle amenities at the site such as fitness facilities, spa services, and communal spaces.

The project will offer views of the Abu Dhabi skyline, Louvre Abu Dhabi, and the Arabian Gulf.

It is also located close to several tourist attractions and landmarks.

Jacob & Co founder and chair Jacob Arabo said: “Partnering with Nine Yards Plus Holding allows us to further extend our legacy beyond the world of haute horology and jewellery into the luxury real estate space.

“Together, we will create an iconic residential development that reflects the timeless sophistication and creativity synonymous with the Jacob & Co brand.”

North America Construction market dynamics

Per GlobalData, the North America construction market size is expected to reach $1,772.5 billion in 2023. The energy and utilities construction sector is expected to depict a AAGR of 8.7% in real terms from 2024 to 2027, supported by investments in regional renewable energy and oil and gas projects.

IoT market for construction set to grow at a CAGR of ~16% by 2027

There is a huge opportunity for wearables in the construction industry. Several start-ups operate in this space: for example, Proxxi protects users from getting electrocuted, and Plinx uses proximity sensors for social distancing. Wearables can also improve communication channels between field and desk workers. As digitalization develops, wearables will become synonymous with construction work.

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