In a significant move within the Dubai real estate market, TownX has formalized a new agreement with Knight Frank to lease over 20,000 square feet of prime retail space at the much-anticipated Luma Park Views located in Jumeirah Village Circle. This development not only signifies a strategic partnership but also highlights the growing demand for quality retail options within the vibrant community of Dubai.
TownX, a prominent real estate developer, boasts an extensive project portfolio valued at AED 4 billion.
TownX and Knight Frank Join Forces
As part of this collaboration, Knight Frank will take on the role of leasing partner for the retail component of Luma Park Views. The consultancy’s expertise will encompass all leasing activities for the retail spaces situated in this increasingly popular JVC location.
Luma Park Views is designed with modern amenities, featuring retail spaces that come with dedicated car parking and electric vehicle charging stations. The development places a strong emphasis on sustainability, ensuring that convenience is paired with environmental consciousness.
“Partnering with Knight Frank for the exclusive leasing of retail space at Luma Park Views is a significant step in our vision to deliver integrated, community-focused developments. Our commitment to quality, sustainability, and user experience is reflected not only in our retail offerings but also in our broader project portfolio, including our recent Arjan acquisition which will further enrich Dubai’s evolving real estate landscape,” stated Haider Abduljabbar, Executive Director of TownX.
In addition to the retail space at Luma Park Views, TownX is expanding its horizons with over 30,000 square feet of retail space at 11 Hills Park, located in Dubai Science Park. This impressive development will feature two sky pools, two fitness centers, and 558 residential units, with completion slated for the first quarter of 2027.
Furthermore, TownX has recently acquired one of the land plots in Arjan for AED 110 million. Spanning 400,000 square feet of sellable area, this acquisition aligns with TownX’s strategy to expand into new regions beyond traditional hotspots in Dubai.
“Our exclusive partnership with TownX reinforces Knight Frank’s commitment to providing exceptional retail leasing solutions in Dubai’s rapidly expanding communities. Luma Park Views offers a strategic location with cutting-edge facilities that cater to evolving retail needs, and we are excited to bring quality tenants to this new destination,” said Daniel Rosso, Senior Manager – Retail Commercial Agency at Knight Frank.
Since its inception in 2017, TownX has successfully delivered 967 units and is currently developing 2,125 apartments across multiple projects, including Easy18, Easy19, Luma21, and Luma22 in JVC, as well as 11 Hills Park at Dubai Science Park.