Loutraki International launches Santorini Residences

DUBAI: Dubai is experiencing an accelerating renaissance in the real estate sector. Since the beginning of 2023 and 2024, it has attracted many international real estate developers, in conjunction with a rebound in the real estate market, which is growing dramatically according to the SAVIllS World Housing Cities Index.

‘Loutraki’ Aussie Real Estate Development, which operates under the umbrella of Nucorp Constructions, launched its international project ‘Santorini Residences’ in Dubai. The luxury residential project is a model of sustainability with modern specifications that serve the green environment.

According to the Australian company’s statement, the Santorini Residences project has been adding to global luxury project models, implemented by ‘Loutraki’ in Australia since 2011, most notably the Woolley Creek project, Rosehill and Parramatta, and the Merrilands in Sydney, along with the Santorini Rezidens expected in July 2026.

The project is located in District 2 of Jumeirah Village Traingel ‘JVT’ and is one of Dubai’s most outstanding residential projects. The project consists of 22 floors, featuring a variety of residential units including studios, one-bedroom and two-room apartments, offering multiple options that suit the needs of all families and investors.

Ahmed Karim, CEO & Founder of AMK Vision, the exclusive real estate broker for marketing the project, said, “The value of the project is AED 200 million. Dubai is an ideal destination for real estate investment from Europe, America and the world, expecting the emirate to experience a dramatic growth in real estate prices of 5-7 percent annually in 2024 and 2025, driven by higher demand than available supply.”

The Santorini Residences project offers investment opportunities and luxury residential benefits that meet the aspirations of investors and families, especially in view of the continued growth in demand for luxury properties, which, according to Ahmed Karim, enhances the position of Loutraki as a global leader in sustainable real estate development.

He also highlighted that the Santorini Residences project was aimed at achieving the principles of green construction. To serve the UAE’s vision for sustainability, the Emirate of Dubai in particular seeks to increase the ratio of green buildings to 25 percent by 2030. The project comes in line with this vision, reflecting Dubai’s commitment to providing sustainable housing projects.

Ahmed Karim also mentioned that the project offers amenities and entertainment such as swimming pools, a fitness centre and green spaces.

Santorini Residences represents more than just a housing project; It is a reflection of Dubai’s future vision in the real estate sector with high demand and investment in luxury residential spaces.