A Dubai-born residential developer

AVENEW Development was founded in Dubai in 2024 by Rasha Hassan. The company's current portfolio focuses on residential projects across Dubai Islands and Dubai South, combining boutique beachfront addresses with a larger multi-building community.

Current projects and partnerships

On Dubai Islands, AVENEW's residential projects are Rena, Shoaq and Silena. Rena comprises 64 beachfront residences with handover planned for Q2 2027. Construction updates for Rena, Shoaq and Silena were published in February 2026.

AVENEW 888 is a five-building community in Dubai South, with MODO introduced as its first phase. The company appointed the main contractor in January 2026 and published Q1 2028 as the planned handover at launch. Two separate schemes follow: Cheval Residences on Dubai Islands, 99 serviced hotel residences with Wadeen Developers and operated by Cheval Collection, announced 20 April 2026; and O1NE District in Motor City, six commercial towers with KORA Properties, launched 8 July 2026 with its first tower DAWN. Dubai Islands projects with Marriott International and Hilton were announced separately.

Sources

Company and project facts: AVENEW 888, Rena and the AVENEW media centre.

Boutique and branded residences across Dubai Islands and Dubai South

BoutiqueBranded residencesWaterfrontDubai

Who owns AVENEW Development?

AVENEW Development is privately held. Its homepage and its own structured data state that the company was founded in Dubai in 2024 by Rasha Hassan, who carries the title Managing Partner in every dated press release from April 2025 onward. Hassan spent close to two decades in banking and real estate before AVENEW, including a spell at Emaar from 2004 to 2018 and Chief Commercial Officer roles at Meraas and Nakheel. The second Managing Partner, Issam Galadari, is also Director and CEO of Ithra Dubai; earlier in a 30-year career he was CEO of Emaar Properties during the development of Downtown Dubai and Burj Khalifa, and later delivered Atlantis The Royal and One Za'abeel. The entity that signs is AVENEW Real Estate Development LLC, printed in the Marriott trademark-licence disclaimer alongside Prime Properties Holding Limited. LinkedIn records the company as privately held with 51–200 employees. No shareholder register, audited accounts or exchange filing has been published, so no percentage is given here.

Source: AVENEW Development — official website · Khaleej Times — Marriott licence disclaimer naming AVENEW Real Estate Development LLC · Arabian Business — Why the past points to the future for Issam Galadari · The Org — Rasha Hassan, Chief Commercial Officer at Nakheel

Track record

Buildings that made the name

  1. 01 Rena Island B of Dubai Islands and the first project AVENEW put under contract: 64 residences, from one-bedroom apartments of about 898 sq ft to beachfront duplex townhouses and a single penthouse past 3,300 sq ft. Al Tamayoz Contracting Co. LLC was appointed main contractor on 7 April 2025. Payment plan 60/40, handover Q2 2027. Under construction, due 2027
  2. 02 AVENEW 888 Dubai South, five minutes from Al Maktoum International Airport. Five buildings of 11 floors each, arranged around co-living space, two adult pools, a children's pool and an amphitheatre. The first phase, MODO, launched on 14 July 2025 with 217 apartments and duplexes. The developer puts the project value above AED 1.3 billion. Handover Q1 2028. Under construction, due 2028
  3. 03 The St. Regis Residences at Dubai Islands The company's first branded residence, announced on 4 December 2025 under an agreement with Marriott International. Stirling Hospitality Advisors was appointed at the end of that month to run feasibility, operator selection and pre-development. No unit count, price or handover date has been published. Announced 2025
  4. 04 Waldorf Astoria Dubai Islands and Residences Announced with Hilton on 27 January 2026: a hotel of 150 rooms and suites, and 120 branded residences beside it. Hilton's release calls the signing AVENEW's second branded residence on Dubai Islands and its sixth development inside that master plan. Announced 2026
  5. 05 O1NE District Motor City, on a plot next to the Dubai Autodrome. A joint venture with KORA Properties, announced 24 February 2026 and launched on 8 July 2026 with DAWN, its first office tower. The masterplan is six Grade A office towers, an integrated retail destination and a healthcare facility, at a stated development value of AED 6 billion. Launched 2026
  6. 06 Cheval Residences Dubai Islands Announced on 20 April 2026 with Wadeen Developers: 99 serviced hotel residences of one to three bedrooms, operated by Cheval Collection. Cheval's managing director calls it the brand's first seafront property in the Middle East. Announced 2026
  7. 07 The Ritz-Carlton Residences Dubai, The World Islands Announced on 20 July 2026 and the second collaboration with Marriott International. It sits in the Hawaii Islands cluster of The World Islands, four kilometres off the Jumeirah coast, and is planned as villas plus two- and three-bedroom low-rise residences. Sales are scheduled to commence in 2027. Announced 2026

AVENEW track record

Projects announced since 2024
9
Rena, Shoaq, Silena, AVENEW 888, St. Regis Residences, Waldorf Astoria, Cheval Residences, O1NE District, The Ritz-Carlton Residences
Homes handed over
0
The earliest handover date published is Q2 2027, at Rena
Developments inside the Dubai Islands master plan
6
Hilton's own figure, stated 27 January 2026
Development value, O1NE District
AED 6bn
The joint venture's own figure, 8 July 2026
Project value, AVENEW 888
AED 1.3bn+
The developer's own figure, 14 July 2025

AVENEW is two years old, so the figures below are published construction milestones — a named contractor, a payment plan, a handover quarter — rather than delivery counts; the earliest, Rena, is due Q2 2027.Homes, hotel keys, office towers and office units are separate measures and are not added together.

What AVENEW is known for

Projects announced since 2024
9, across Dubai Islands, Dubai South, Motor City and The World Islands
Developments inside the Dubai Islands master plan
6, per Hilton, January 2026
AVENEW 888, Dubai South
Five buildings of 11 floors, AED 1.3bn+, first phase 217 units
O1NE District, Motor City
Six office towers plus retail and healthcare, AED 6bn
Waldorf Astoria Residences Dubai Islands
120 branded homes beside a 150-key hotel
Cheval Residences Dubai Islands
99 serviced residences, 1–3BR
Marriott collaborations
Two — St. Regis in 2025, The Ritz-Carlton in 2026
The World Islands present a real estate opportunity that is genuinely rare. Limited by design, recognised around the world and continuing to evolve with every passing year.
Rasha Hassan Managing Partner, AVENEW Development Khaleej Times — on The Ritz-Carlton Residences Dubai, The World Islands, 20 July 2026

Where AVENEW builds

Silena, Dubai IslandsApartments in DubaiTownhouses in DubaiDubai SouthHandover by 2027

Current projects via GRAF

Silena — Dubai Islands

Silena

Dubai Islands

From AED 2.6M

View project →

How AVENEW differs from other Dubai developers

AVENEW Development is two years old and has put nine projects into the market in that time, six of them inside one master plan. The buildings are small — 64 to 137 homes each — and three of the nine carry a global hospitality name licensed from its owner. Every selling project publishes its unit mix, its payment plan and its handover quarter.

Six of nine projects sit on Dubai Islands
Rena, Shoaq, Silena, the St. Regis Residences, the Waldorf Astoria pair and Cheval Residences are all inside the same waterfront master plan. Hilton counted them at six in January 2026.
Boutique unit counts, not towers
Rena is 64 residences, Silena 137. The developer describes both as low-rise and low-density, with duplex townhouses at beach level and sky villas or a penthouse at the top.
The hotel brands are licensed, not owned
St. Regis and The Ritz-Carlton are Marriott trademarks used under licence; Waldorf Astoria is Hilton's; Cheval Collection operates the Cheval residences. AVENEW is the developer in each case.
One commercial joint venture
O1NE District in Motor City is built with KORA Properties, whose chairman Nilesh Ved also owns Apparel Group. It is six Grade A office towers, a retail destination and a healthcare facility, at AED 6 billion.
Payment plans are published per project
60/40 at Rena and at AVENEW 888, 50/50 at Shoaq and Silena, with 10% on booking in each case.
One managing partner comes from the largest developer in the market
Issam Galadari is Managing Partner of AVENEW and, separately, Director and CEO of Ithra Dubai; he was previously CEO of Emaar Properties and Real Estate Director at the Investment Corporation of Dubai.
Why GRAF recommends AVENEW

GRAF sells Silena — AVENEW Development suits a buyer looking for a low-rise beachfront building on Dubai Islands, from a compact apartment up to a duplex townhouse or sky villa.

What the record shows
  1. Silena publishes a unit count, a plan and a handover quarter137 residences from 730 to 12,000+ sq ft — apartments, duplex townhouses, sky villas and one penthouse — on a 50/50 payment plan, with handover stated as Q2 2028.
  2. It sits inside a master plan Hilton independently countsSilena is one of six AVENEW developments inside Dubai Islands, a count Hilton itself published in January 2026, not just the developer's own claim.
  3. The developer's other Dubai Islands work is dated and sourcedRena, AVENEW's first project on the same island cluster, already has a named main contractor (appointed April 2025) — a track record a buyer can check independently of Silena's own listing.

GRAF editorial team

AVENEW — frequently asked questions

Who owns AVENEW Development?

AVENEW Development is privately held. Its homepage and its own structured data state that it was founded in Dubai in 2024 by Rasha Hassan, who is titled Managing Partner in every dated release; Issam Galadari is the second Managing Partner. The signing entity is AVENEW Real Estate Development LLC. LinkedIn lists the company as privately held with 51–200 employees. No shareholder register, audited accounts or exchange filing has been published, so no percentage is stated.

Source: AVENEW Development — official website

What has AVENEW Development built?

Nine projects announced since 2024: Rena, Shoaq and Silena on Dubai Islands, AVENEW 888 in Dubai South, the St. Regis Residences and the Waldorf Astoria hotel and residences on Dubai Islands, Cheval Residences Dubai Islands, O1NE District in Motor City and The Ritz-Carlton Residences on The World Islands. All are under construction or pre-construction; the earliest handover date the developer publishes is Q2 2027, at Rena.

Source: AVENEW Development — media centre

When was AVENEW Development founded and by whom?

In Dubai in 2024, by Rasha Hassan. The homepage says so in prose and the site's structured data carries the same founding year and founder name. Hilton's newsroom words it as co-founded by Rasha Hassan. She spent nearly two decades in banking and property before AVENEW; the company's own awards post puts her career at over 25 years.

Source: About Avenew Development — official site

What is AVENEW 888?

A residential community in Dubai South, five minutes from Al Maktoum International Airport: five buildings of 11 floors each, arranged around co-living space, two adult pools, a children's pool, an amphitheatre and a dog park. The first phase, MODO, launched on 14 July 2025 with 217 apartments and duplexes. The developer puts the project value above AED 1.3 billion. Handover is stated as Q1 2028.

Source: Khaleej Times — AVENEW Development launches Dh1.3 billion mega project in Dubai South

Which hotel brands work with AVENEW Development?

Three. Marriott International licensed the St. Regis name for a Dubai Islands project announced in December 2025 and The Ritz-Carlton name for a World Islands project announced in July 2026. Hilton signed the Waldorf Astoria Dubai Islands hotel and residences in January 2026 — 150 rooms and suites, 120 branded homes. Cheval Collection operates the 99 serviced residences launched with Wadeen Developers in April 2026. AVENEW is the developer in each case; the brands are licensed.

Source: Hilton — AVENEW Development and Hilton announce Waldorf Astoria Dubai Islands

What is O1NE District?

A commercial masterplan in Motor City, next to the Dubai Autodrome, built by AVENEW with KORA Properties under a joint venture announced in February 2026. It comprises six Grade A office towers, an integrated retail destination, healthcare facilities and landscaped public space, at a stated development value of AED 6 billion. The first tower, DAWN, went on sale on 8 July 2026; the remaining five towers, the retail destination and the healthcare facility follow in later phases.

Source: TradeArabia — Avenew, Kora unveil $1.6bn mixed-use destination at Dubai Motor City

Has AVENEW Development delivered any homes?

No. Every project is off-plan and none has reached handover. The earliest date the developer publishes is Q2 2027, for Rena on Island B of Dubai Islands, followed by Q3–Q4 2027 at Shoaq, Q1 2028 at AVENEW 888 and Q2 2028 at Silena. Two main contractors have been appointed: Al Tamayoz Contracting for Rena in April 2025 and Al Masaood National General Contracting for AVENEW 888 in January 2026.

Source: Middle East Construction News — Al Masaood awarded contract to develop AVENEW 888

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Official sources
Official websiteAVENEW Development — official siteAVENEW Development — About UsAVENEW Development — media centreAVENEW 888 — official project siteAVENEW Development — LinkedIn
About this profile

Maintained by the GRAF editorial team from public sources and our own project data. Updated 21 August 2026. Contact us

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