Author: Victoria Dickinson

The total sales turnover has now hit AED 142bn ($ 38.7bn) in the Q3 2024, making it the best performing quarter in the market history for Dubai Real Estate, the report of Property Finder said. The emirate recorded 50,439 transactions which is the highest number that has been recorded in a quarter. Purchases of off-plan properties alone contributed to this surge, contributing to 63 per cent of total deals. Off-Plan Properties dominate the Market Off-plan sales also buying by specification rose year-on-year by 58.7 per cent to reach 31,800 transactions in Q3 2024, the highest on record for a quarter.…

Growing property sales in Dubai, in which the value of transactions with real estate reached AED 120 billion ($32.7 billion) by Q3 of 2024, according to Bayut’s data report. These include the total number of sales transactions, which stood at 48,082 for the three months up to September, reflecting the market buoyed by demand and supply of new stocks. In Bayut, for property rates’ and rents high across the board, the areas promising the highest ROI have been recognized and the speed at which rent is rising is highlighted. The report shows that a villa costs 13% more inside Arabian…

Abdulla Lahej, former Group CEO of largest Mumbai based property developer Emaar Properties has unveiled Amaal 8, a new landmark real estate project in Dubai. This is the first project of Ayana Holding that was formed with Lahej as one of its developers intent to play a big role in the growing property sector in Dubai. Sited in Meydan Horizon, Mohammed bin Rashid, Amaal 8 is a tower for mixed-use residential property comprising of 48 stores which provides 512 residences. Due to its position next to the Ras Al Khor Wildlife Sanctuary, the development is situated in a rather unusual…

Dubai has moved a step closer to improving its standing on the international arena, thanks to getting the green light for a $2.7bn master plan for Expo City, spearheaded by Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE. This grand plan seeks to repurpose the area of the 2020 World Expo granting it the status of an innovational, Green City, and Living Lab. Located over an area of 3.5 sq km, Expo city is estimated to support more than 35000 population in the city and nearly 40000 professionals which make it a global…

Florida-based real estate firm Globe Trade Centers, in which Eric Trump has a stake, is opening two new offices in Dubai, an area his son referred to as `a developer’s dream. Speaking in an interview with Arabian Business, the Republican nominee for US president noted that Dubai is the type of place that makes it possible for developers to build memorable buildings, which makes it the perfect location for high risk real estate projects. In the lifetime of this grand city, this is the time for developers ‘build something incredible’ and this is the location to do it, according to…

Buth despite this tough situation, Dubai still remains attractive for investments into housing real estate sector; prices for residential properties were up by 17 percent last year and by 40 percent to the level of 2020 in particular, as per data of UBS. However any new emerging market seen with upliftment in the real estate sector the question arises is that we are having a bubble. It looks at the risks of such phenomenon through the UBS Global Real Estate Bubble Index, cities such as Dubai, Singapore, London and New York. Although many cities no longer have a housing bubble,…

A Dubai-based property management company, Keyper, recently opened a new business frontier through the rent now, pay later (RNPL) service to reorient the property leasing market in the UAE. This cost effective service, enables the tenants to pay their Annual Rent in Twelve equal instalments as opposed to the usual One Off amount. Keyper presents the RNPL Marketplace offering only the best properties by the most reputable real estate companies in Dubai. Every every listing on the platform will be priced for a total monthly subscription of 12 months – a fully digital rental model. This approach, therefore, reduces the…

It is now common to see Russian and French buyers investing in Dubai real estate market due to high mortgage rate in Russia thereby making property investment domestically a herculean task. The recent cancellation of the 8% preferential mortgage rate in Russia moreover the hike in housing interest rates by 18% is forcing the Russian buyers to look for better options abroad and the most preferred location being Dubai. Olga Poletskaya, the head of investment at Colife Invest noted that Russian investors are focusing their attention to Dubai since housing is becoming too expensive in their home market, which has…

MERED, the Dubai based real estate developer has announced its plan to buy two beach side plots in Al Reem Island Abu Dhabi. This signifies MERED’s direction towards expanding its inventory in the portfolio which comprises of the luxurious residential and commercial buildings in the UAE. The obtained two contiguous plots, 23,433 sq.m., are the first MERED’s successful step into”,- said Mr. Sergey Ashurbekov, the CEO of MERED, while the capital’s real estate market remains active. Al Reem Island, which is a part of ADGM and emerging luxury property hotspot, is located at an end of a bridge and has…

Among other things, the 0. 5% rate cut is expected to positively impact Dubai’s real estate through the monetary policy angle initiated by US Federal Reserve. Analysts posit that a positive domino effect is imminent in the UAE because the local banks are likely to reduce the mortgage rates in the coming weeks hence creating more affordability to the potential home buyers and investors. As per Sameer Vaya, the founder and managing director at Mortgage Simplified UAE two banks have already cut the rate and more banks are likely to do so in the near future. This development is considered…