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...

In comparison to the same period previous year, real estate transactions in Dubai increased by 44%, totaling 57,700 units With over 57,000 units bought across Dubai during the first half of 2023, the residential sector is on track to becoming the busiest year on record, a new report finds. Global real estate services provider Savills revealed in its latest report that property transactions during...

Dubai real estate: Luxury property market breaks another record as units sold skyrockets Dubai saw a spike in influx of wealthy investors from around the world post-pandemic Dubai has made a record in the luxury property market this year with sales of as many as 335 luxury units till July end, making 2023 the most successful year for this segment, a new market study revealed. Besides, a...

New report forecasts emirate to continue rally in second half of the year with growth between 6-7.9% Dubai led the price growth in the global prime residential market, recording gains of 11.2% in the first half of 2023. According to findings of the Prime Residential World Cities Index, released by real estate services provider Savills, the emirate emerged as the leader in average capital values...

Dubai has emerged as one of the top destinations for real estate investment for global smart investors ahead of New York, London, and Paris. Dubai's real estate market has become a luxury asset class with price standard of $10 million and above. Luxury real estate has become the new global currency. The City of Wonders is on the global sophisticated and smart investor's radar, who want long-term...

Dubai was recently recognised as the top regional destination and the fifth best city to live in by the World’s Best Cities report for 2023 Dubai’s property sector is experiencing a significant surge, according to Unique Properties, a real estate agency in the emirate. Recent data reveals substantial growth in both the residential and commercial markets during the second half of this...

Emaar Properties’ The Oasis by Emaar is one of the largest projects in Dubai covering a total land area of more than 100 million square feet (9.4 million square meters) Emaar Properties celebrated the launch of The Oasis by Emaar, its latest waterfront luxury lifestyle destination, with a gala event held last night at the Armani Hotel in Burj Khalifa, Downtown Dubai. Emaar Properties, known for...

UAE Ministry of Finance issues cabinet decision on corporate tax rules for real estate investment The UAE has issued rules on whether income from real estate investments is subject to corporate tax in the country. The Ministry of Finance announced the rules in a cabinet decision, which clarifies rules on property across the United Arab Emirates. It outlines whether foreign companies and property owners...

AI-enabled proptech firm sees transactions rise 46% this year The Dubai real estate sector is projected to experience a 4.1 per cent growth rate in Q2 2023 and a surge of 46 per cent in transactions compared to 2022, according to recent research. Property prices have seen substantial increases, particularly in areas like Palm Jumeirah and Trade Centre First. The market’s growth is supported by a...

Project will add 110 kilometres of coastline to Dubai, featuring over 80 hotels, resorts Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the new futuristic development masterplan of Palm Jebel Ali. Spanning an area of 13.4 square kilometres and occupying an area twice the size of Palm Jumeirah, Palm Jebel Ali will...