Author: Victoria Dickinson

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…

SOL Properties, the UAE based real estate developer, has announced new plans of projects having the GDV of AED 12 billion ($3. 3bn) that are to be launched in the next six months. These projects are to bring great changes in the UAE real estate market and continue to contribute to the UAE’s economic development. The company has established itself under the SOL Properties with the Bhatia Group having fifty years of real estate background by procuring 4 million sq ft prime land the ultra-luxury and affordable luxury solutions. The major projects are a project in Palm Jumeirah’s West Crescent…

The real estate market in Dubai has shown remarkable stability and increase in the first half of 2024 with the total number of transactions increased by 17. 8% and total value of AED 76. 34 billion said Metropolitan Homes. This rise has come despite some hindrances including the flood that occurred in the month of April, which for a while affected the market. Although, the market improved by the end of May 2024 where 17339 transactions in the residential resale market of Tampa were conducted in a single month, which was the highest in the year. Once again, apartments remain…

Dubai’s Palm Jumeirah island which is already having luxurious touch is having a street called “Billionaires Row which includes 13 exclusive beachfront villas priced from AED 120 million to AED 300 million which makes it one of the richest areas in Middle East. Billionaires Row is a street in the Frond G which is the premium location in Palm Jumeirah. Here every villa comprises sophisticated comfort such as the zen garden, koi pond, home theatre system, and saltwater swimming pool. Due to scarcity of available plots, the ownership of the property here has developed into a symbol of prestige among…

Dubai and Abu Dhabi city has ranked highest among the global cities on JLL’s 2024 Global Real Estate Transparency Index (GRETI). Dubai is identified among the five largest improvers globally while Abu Dhabi ranks fifth in the list. This is a shift in the right direction in their international standings and can easily be attributed to increased liberalization and transparency with real estate practices. Key Areas of Improvement The UAE cities have been applauded for enhancing their transparency through several initiatives: Scaling digital capabilities: Both cities also have grown programmes in digital real estate platforms. Strong anti-money laundering (AML) regulations:…

The new Kuwait embassy in Abu Dhabi was officially launched by Sheikh Abdullah bin Zayed, Deputy Prime Minister and Minister of Foreign Affairs of the UAE in the presence of Kuwait’s foreign minister, Abdullah Ali Al Yahya Monday. The Belgian Embassy is situated in the Embassies District, Al Ma’arid which also depicts the good commensurate and long-standing bilateral relations between the two countries. This is perhaps as good a place as any to reveal many details of the ceremony of the official opening of the embassy, including the placing of the inscription on the commemorative plaque. Specifically, Sheikh Abdullah stressed…

The event launched by the Dubai Youth Council was the Youth Retreat in Dubai immersed the audience in creative solutions of Emirati youth for improvement of the country future. Supported by H. H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, the retreat hosted more than 80 young leaders, officials of the government, fellows, and experts at the Etihad Museum. Some of the main stakeholders to attend the event were, Dr. Sultan bin Saif Al Neyadi, the Minister of State for Youth Affairs; Omar bin Sultan Al Olama, the Minister of State for…

Purchasing and investing in real estate in the UAE has never been easier, especially with the development of fractional ownership by Konvi and investors can now be a part of the luxury property market at $280 only. As Konvi continue to grow and enter the United Arab Emirates, this unique platform provides those interested with an opportunity to invest in the increasingly competitive luxury real estate market of the country while requiring little to no initial capital investment. Fractional ownership allows investors to purchase a part of a property hence reducing the threshold to invest in real estate. This strategy…