Prospect Signs Strategic Partnership with Mulk Properties and OBG for The LX – A Premium Commercial Development in Arjan, Dubai

• The LX valued at AED 350 M introduces a new benchmark for boutique offices and curated retail in one of Dubai’s fastest-growing urban enclaves
• Taps into UAE’s commercial construction industry expected to grow to over AED 183 Billion by 2030

Dubai, UAE – 7 May 2025 – Prospect, a Dubai-based real estate investment and advisory firm has entered into a strategic partnership with Mulk Properties, which is a subsidiary of Mulk International, a global industrial conglomerate with diverse businesses, who are expanding their multinational real estate portfolio. The partnership signed is to formalise the development of a one-of-kind, premium, commercial development in Dubai – The LX, located in the heart of Arjan. The strategic collaboration also brings together One Broker Group, an award-winning, developer-focused real estate agency in Dubai, as the exclusive sales partner for the project.

This landmark agreement marks a significant step toward reshaping Dubai’s commercial property landscape, with the signing ceremony held on 7th May at MayaBay, Jumeirah Al Naseem, Dubai. In 2024, the Dubai commercial property market recorded a 24% jump in growth, with almost 3,000 office units sold, with transactions valued at AED 89.9 Billion*. This double digit YoY growth pattern is expected to continue with more and more companies registering with Dubai Chamber of Commerce and the lack of office spaces to meet this demand.