Crown Prince launches competition to find the best designs for Dh1m homes Sheikh Hamdan bin Mohammed. Photo: Dubai Media Office Dubai's Crown Prince has launched an international design competition to produce affordable housing for the city. Sheikh Hamdan bin Mohammed invited architects and designers from around the world to submit their designs for smart homes that families could mortgage for...
Average rents of properties close to metro stations has risen sharply, CBRE report finds Residential properties in Dubai only a short walk from metro stations have outperformed the wider real estate market in the emirate, both in terms of sales price and rental performance, according to global consultancy CBRE. Residential units within a 15-minute walk of the emirate’s...
The Raining Street is on the Heart of Europe island project, off the coast of Dubai. Photo: Kleindienst GroupThe National Apr 18, 2023 You may have seen it all over Instagram, the Raining Street of Dubai. A quaint European-style pedestrian road, lined with red and white polka dot awnings, where (unlike the rest of the UAE) it rains all year round. The perennially drizzly street is...
The average price of a super prime property in Dubai now stands at $7.9mn, an 11.9% increase from the last quarter In the first quarter of 2023, Dubai’s super-prime residential market had transactions worth $3.8 billion. This is a 21.72% decrease compared to the previous quarter (Q4 2022). This luxury market accounts for 21.7% of the total residential market in Dubai in terms of...
The most recent massive transaction in the United Arab Emirates' luxury market involved an apartment in the Baccarat-branded residences. One area of Dubai's real estate market is becoming more and more popular with wealthy people looking for somewhere to hide their money: flats and townhouses with a brand name, such as Four Seasons, Bulgari, and Cavalli. As foreign purchasers continue to acquire...
Sheikh Mansour bin Zayed and Sheikh Khaled bin Mohamed bin Zayed given top positions In a series of significant appointments, President Sheikh Mohamed selected Sheikh Mansour bin Zayed as Vice President and Sheikh Khaled bin Mohamed as Crown Prince of Abu Dhabi. Sheikh Mansour will now work alongside Sheikh Mohammed bin Rashid, who is Dubai's vice president, prime minister, and ruler. Sheikh...
According to Kearney's 2023 Foreign Direct Investment Confidence Index, the UAE is the top rising market in the Middle East and North Africa and third overall, behind China and India (FDICI). According to the ranking, the fourth-ranked economy in the Middle East is Qatar, followed by Saudi Arabia in sixth place, Egypt in fourteenth place, Turkey in fifteenth place, and Morocco in sixteenth. To give...
The real estate industry in Dubai is thriving, with rising home prices and rents this year. As real estate developers continue to announce new projects around the UAE, the supply does not appear to be slowing down. With the largest apartment in the world planned for the city and the tallest residential tower in the works, Dubai frequently makes headlines, but new projects are also planned for Abu Dhabi...
Dubai: Bring up the subject of any real estate market's ups and downs, and Mohammed Binghatti won't be moved by the idea. even when he is prepared to start work on the project to construct the tallest single-residential tower in the world. In fact, when it comes to designing/constructing a new Dubai tower in collaboration with the upscale watch and jewelry manufacturer Jacob & Co., he won't permit...
Yes, these extended notices are being issued by landlords and property owners as a result of Dubai's extraordinary demand for developed property. These property owners/sellers want to make sure that after a contract is signed with the new buyer/tenant, they won't have to wait around for the property to be vacated by giving 12-month notices. Due to the high demand, villas in Dubai that are "empty on...