World's super rich 'to spend $2.5 billion' on Dubai property in 2023 The emirate’s transport infrastructure, tourism hub credentials and pandemic recovery are main drivers of investment, Knight Frank says The Palm Jumeirah is one of the most preferred areas for wealthy investors seeking to buy property in Dubai. Global high-net-worth individuals (HNWIs) plan to spend $2.5 billion...
Binghatti unveils new exclusive Bugatti Residences for wealthy buyers. The ultra-luxurious residences in Dubai is nothing less than a “megaproject,” Binghatti chief tells Arabian Business. Bugatti, the renowned French luxury car brand, has joined forces with Binghatti, a prominent UAE real estate developer, to unveil a vision that will redefine luxurious living: the world’s...
Dubai Metro Transports 2 Billion Passengers Dubai Metro reaches historic landmark as it transports more than two billion passengers Dubai Metro has transported two billion passengers since it first opened on September 9, 2009. The RTA revealed the metro’s Red Line transported 1.342bn commuters, while the Green Line served 673.531m commuters. Additionally, the Dubai Metro has...
SLS Residences The Palm Dubai on the way in 2026 SLS Residences The Palm Dubai opens in 2026 as Ennismore expands beyond hotels Ennismore – known for its all-out lifestyle hotels – has announced its first solely residential project in Dubai. SLS Residences The Palm Dubai is coming in 2026, without hotel rooms. The new-build SLS Residences The Palm Dubai will be perched on Palm Jumeirah’s...
Dubai property, all signs already point to 2023 being a ‘Year of Off-plan’ It Is luxury-primed homes leading the charge in off-plan In just over 45 days, developers in Dubai have seeded the market with a range of luxury home options. Extending to super-luxury ones too. Dubai has always had a strong off-plan property market. A city constantly building for the future, it offers great...
Sheikh Mohammed bin Rashid announces Cabinet reshuffle Prime Minister confirms series of ministerial appointments. Shamma Al Mazrui becomes Minister of Community Development, after previously serving as Minister of State for Youth. Chris Whiteoak / The National Omar Al Olama has been appointed director general of the Prime Minister's Office, while retaining his position as...
Tenants can pay rent automatically through the Noqodi Ejari Direct Debit Service (DDS) Tenants in Dubai can now make their rental payments by direct debit, according to a circular shared by the Dubai Land Department on Monday. The new Ejari update features the Noqodi Ejari Direct Debit Service (DDS), which will allow tenants to pay rent automatically, via direct debit. The Direct Debit...
Dubai Real Estate Back in Demand; Prices to go Up The Dubai real estate market is gaining momentum as the emirate emerges from a Covid-19 induced slowdown and will stage a strong rebound in second half due to stimulus packages, visa reforms and strong demand from end-users and investors, experts say. Leading developers, executives and analysts said residential segment has already bottomed out and...
Palm Jumeirah scores hat-trick of Dh100m+ sales in first-half of 2021 Palm Jumeirah make up seven of Top 10 home sales in Dubai as luxury grows in demand. The Palm easily holds on the title of being Dubai's most coveted choice for super-premium homes. Dubai: Dubai’s property market recorded three Dh100 million deals in the first six months of 2021, with all three being on...
Sheikh Mohammed orders Dubai district to be renamed Hind City Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has ordered that a district in the emirate be renamed. Al Minhad and its surrounding areas will now be known as “Hind City”. The city includes four zones, Hind 1, Hind 2, Hind 3, and Hind 4, and spans an area of...
Dubai Real Estate Topped $144B in 2022, 76.5% Hike ! Dubai real estate deals topped AED500bn for the first time last year. Dubai’s annual real estate transactions crossed half a trillion dirhams for the first time in 2022, according to official statistics. The Dubai real estate sector saw transactions worth a record AED528bn ($143.8bn) last year, a 76.5 percent increase from...
Dubai Tower to Feature Moving Walls, Fog Forest, Hanging Garden DAMAC’s mega-project will be located in Al Safa with futuristic amenities and views of the Dubai skyline Dubai developer DAMAC has launched a new 83-storey building, branded by the Swiss luxury jeweller, de GRISOGONO. The development is to be located in Al Safa. The building boasts futuristic and luxurious amenities...
No bubble in UAE real estate: Prices are going higher Dubai real estate is still affordable relative to global markets and supported by the UAE’s positive economic outlook Contrary to popular belief, the UAE’s economic activity in the real estate industry has been resilient, suggesting that growth prospects for the upcoming year remain positive. Prices are steadily rising, and the landscape...
The Rise of Dubai’s post-pandemic real estate market While the pandemic took its toll on the global real estate sector, the industry in Dubai recovered fast. An unprecedented event, Covid-19 impacted every sector of society – real estate included. In 2019, the year before the outbreak, Dubai’s residential market experienced supply-demand issues and an excess of residential...
Mohammed Bin Rashid approves Phase II of Dubai 2040 Urban Master Plan with 20-Minute City Policy. Plan aims to develop a 20-minute city allowing residents to 80% of their daily needs His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, during the launch of the new phase Dubai; His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice...
10 upcoming UAE Real Estate projects: Dubai’s biggest apartment, world’s biggest tower, luxury villas and moreDubai’s real estate market is booming, with property prices and rental values surging this year. Supply shows no side of slowing down as real estate developers continue to launch new projects around the UAE. Dubai tends to grab the headlines, with the city’s largest apartment planned...
Dubai’s new $5 billion ‘Moon’ proposed as UAE shoots for the stars. Moon Dubai’s lunar surface, surrounded by a “lunar colony,” is designed to handle 2.5 million guests, annually Image source: Moon World Resorts Inc. Dubai’s new $5 billion ‘Moon’ proposed as UAE shoots for the stars Dubai could have a $5 billion (AED18 billion) moon building in the form of destination resort,...
Dubai property sales hit $6.6 billion in AugustAugust was recorded as the highest performing month in terms of sales transactions volume and value in 12 years. Dubai’s real estate market recorded 9,720 total sales worth AED24.3 billion in August, global property digital business Property Finder said. August was recorded as the highest performing month in terms of sales transactions volume and...
Why it’s the right time to buy luxury property in Dubai ? Dubai’s residential property market is continuing its remarkable turnaround since the UAE caught the world’s attention through its excellent management of the Covid-19 pandemic, with the luxury segment registering its highest proportion of transactions last year. In Dubai’s Covid Comeback - 2022 report, Knight Frank says prime property...
UAE Tightens Real Estate Investment Rules; Brokers to report cash deals worth Dh55k and above Emirates issues new reporting requirements for transactions as part of its efforts to strengthen regulatory framework. The UAE has tightened real estate investment rules and asked the property agents, brokers, and law firms to report cash transactions worth Dh55,000 and above to the UAE’s Financial...
