Satish Sanpal Signals Next Phase for ANAX Developments as AED 2 Billion-Plus Pipeline Takes Shape

Dubai developer moves into a new phase of construction and portfolio growth following the groundbreaking of ELLE Residences Dubai Islands

DUBAI, United Arab Emirates, Aug. 08, 2026 (GLOBE NEWSWIRE) -- Satish Sanpal, Founder and Chairman of ANAX Holding, is outlining the next stage of growth for ANAX Developments as the Dubai-based property company advances construction across its portfolio and prepares a planned development pipeline valued by the company at more than AED 2 billion.

The expansion comes as ANAX moves beyond its initial launch phase and focuses increasingly on construction, delivery and future development opportunities across Dubai.

The company currently reports approximately AED 1 billion of projects in motion, representing more than 1,000 residential units and around one million square feet of gross floor area. Its planned pipeline exceeds AED 2 billion, with more than 1,500 additional units and approximately 1.5 million square feet of GFA expected as the portfolio expands. These figures are company-reported projections.

ELLE Residences Moves Into Construction

A key milestone in that transition is the commencement of construction at ELLE Residences Dubai Islands.

ANAX broke ground on the development in June 2026, with International Foundation Group appointed to carry out enabling works. The project comprises 91 apartments and seven townhouses and is scheduled for completion in Q4 2027.

ELLE Residences is the first ELLE-branded residential development in the Middle East and forms part of ANAX's strategy to build distinctive residential concepts for different segments of Dubai's property market.

Other developments in the company's portfolio include V-Suites in Business Bay and Evora Residences in Al Furjan.

Building for Dubai's Next Property Cycle

Sanpal has previously described Dubai's property market as moving from rapid expansion towards a more mature phase, with buyers placing greater emphasis on pricing, product quality and developer credibility.

That changing environment is influencing ANAX's next stage of development.

“We see the current period of market recalibration as a moment to prepare for the surge that will follow. We are strengthening our operations while ensuring that our launches, construction and deliveries remain on track and executed with precision,” Sanpal said.

The company has also strengthened its senior leadership with the appointment of Raja Alameddine as CEO of ANAX Developments. Alameddine brings more than three decades of real estate experience, including senior roles with Colliers International, Gulf Related, Jeddah Economic Company, Solidere International and Lootah Real Estate Development.

For ANAX, the next phase will place greater emphasis on translating its development concepts into completed properties while continuing to identify opportunities across Dubai's growth corridors.

With construction underway across its portfolio and a planned AED 2 billion-plus pipeline taking shape, the company is positioning delivery, design and long-term development strategy at the centre of its expansion.

About ANAX Developments

ANAX Developments is the real estate development arm of ANAX Holding, founded by Satish Sanpal. Based in Dubai, the company develops residential projects across the emirate, with a portfolio including ELLE Residences Dubai Islands, V-Suites in Business Bay and Evora Residences in Al Furjan.

Media Contact

CEO: Santish Sanpal
Website: https://anaxdevelopments.com/
Email: info@anaxdevelopments.com

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Satish Sanpal

Satish Sanpal