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...
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...
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...