Global high-net-worth individuals plan to spend $2.5 billion on property in the emirate this year The total number of $10 million home sales in Dubai for the first nine months of the year has reached a record high of 277, driven by rising demand for luxury homes in the emirate, as reported in a new study by the global consultancy Knight Frank. The emirate registered a 40.7 per cent annual...
Nautica, Select Group's 26th project in the UAE, is a vibrant residential development in Dubai Maritime City, featuring meticulously designed one and two-bedroom apartments tailored to young professionals and savvy investors Select Group, one of the region’s premier real estate developers has announced the launch of Nautica, its latest residential project in Dubai Maritime...
Dubai real estate sees 50 per cent summer sales increase The Dubai real estate sector recorded AED102bn ($27.8bn) of sales this summer, according to data released by W Capital. The real estate brokerage said the value of sales this summer was 50 per cent higher than the summer season of last year, which amounted to AED68bn ($18.5bn). The number of transactions also increased by 30 per...
The project will be located opposite the World Trade Centre on Sheikh Zayed Road Dubai: Azizi is preparing to begin construction on the world’s second-tallest tower in Dubai. The exact height of the tower, expected to be over 700 meters, is yet to be announced. The project will include a six-story shopping mall, over 700 residential units, and a luxury hotel with around 300 suites, operated by the...
The masterplan of the palm-shaped island was unveiled by Sheikh Mohammed bin Rashid Al Maktoum earlier this year Real estate master developer Nakheel has announced the launch of the first villas that are available to purchase on the Palm Jebel Ali island. Spanning a total area of 13.4sqkm, the project is twice the size of the Palm Jumeirah. The masterplan of the palm-shaped island was unveiled by...
Dubai apartment values surged by the most in nearly a decade in August, broadening a property rally that’s transformed the city into one of the world’s hottest housing markets.The city’s housing boom, so far largely driven by larger single-family homes, is now pushing up prices for apartments that make up about 85 percent of the housing supply in the Middle East’s business and tourism...
London property market to face more challenges, sluggish growth in the coming year, says latest AI-based research An artificial intelligence (AI)-propelled analysis on property markets in major cities around the world has predicted a close to 15 percent growth in Dubai real estate market in 2024, while a persistent downturn in the London property market in the coming year. The study...
The city recorded 11,818 real estate transactions last month, a 25 per cent increase in volume compared to 9,450 transactions in August 2022.Dubai recorded a 43 per cent year-on-year (YoY) growth in the value of real estate transactions in August to Dhs33.7bn, according to Property Finder, as demand in the city’s property market remains strong amid robust economic growth.The city recorded 11,818 real...
COP28 is expected to bring an influx of over 70,000 people into the UAE The Dubai real estate market continues to see unprecedented growth witnessing a strong momentum in the off-plan market. During the first half of 2023, the off-plan market made up of over 53 percent of the units sold this year, according to new data by DHG Properties. The continued demand is being driven by several factors...
Entry of investors from Russia led to 47% rise in property costs, data shows A major factor in the surge in Dubai’s property prices has been a huge influx of Russian investors into the sector, data shows.The UAE, especially Dubai, has been an attractive destination for wealthy investors and businessmen from across the globe for years now. These people of great wealth come to Dubai looking for the...