Dubai real estate: Prospect, Mulk Properties launch AED350mn premium commercial development in Arjan

Prospect, in partnership with Mulk Properties, announced the launch of The LX, an AED 350 million boutique office and retail development in Arjan.

Set for handover in Q3 2027, The LX features 71 premium boutique office units and two

curated retail spaces.

Unit prices in the project will be starting from AED2 million, the companies said.

With demand for flexible, high-specification office spaces at an all-time high in Dubai, The LX is positioned to fill a significant gap in Dubai’s evolving commercial real estate sector, the companies said.

 “The LX marks our strategic entry into Dubai’s commercial property segment, and we’ve done so with intention and insight,” said Nawab Shaji Ul Mulk, Chairman of Mulk International.

“With Arjan’s explosive growth and limited premium office supply, The LX provides the kind of asset that can define the district,” he said.

Rajat Verma, Co-founder of Prospect, said the project will be targeted solution to an urgent market demand.

“Our goal has always been to develop where demand is real and rising. Arjan is on the cusp of a commercial renaissance, and The LX will be at the forefront of that transformation,” he said.

The launch comes at a time when Dubai’s commercial market is seeing a paradigm shift – away from generic office towers toward purpose-built, design-led spaces that prioritize community integration, functionality, and long-term investment value.

Arjan, as a well-connected and increasingly sought-after destination, ticks all these boxes, making it the ideal location for Prospect’s newest venture, the companies said.

One Broker Group (OBG) will be the exclusive sales partner for the project.

The companies said their project is already drawing strong interest from investors, SMEs, and entrepreneurs looking to establish themselves in a growth-focused location with excellent ROI potential.

With direct access to major highways, Al Barsha South, Jumeirah Village Circle, and Dubai Science Park, Arjan is one of the few remaining zones offering centrality without congestion.

Besides, with thousands of new residential units being delivered, the demand for adjacent commercial infrastructure is rising sharply, the companies said.