Dubai real estate to break $107bn record in 2023 for first time in history Dubai remains an appealing destination for investors seeking affordable opportunities with promising long-term returns. The booming Dubai real estate market is expected to see record-breaking numbers this year, W Capital projects the figure to reach AED400 billion ($108.9 billion) for the first time in history, based on data...
Dubai is set to get its first residential clock tower, which is also set to be the tallest residential clock tower in the world, the building’s developers announced on Thursday. The project was unveiled at an event to mark the collaboration between London Gate, UAE’s premium real estate developer and Franck Muller, the Swiss luxury watch manufacturer in Dubai. A global trendsetter in the horology...
Binghatti Mercedes Benz to build luxury residential tower in Dubai The two brands said the collaboration was “brought together by a shared passion for iconic design and innovation” UAE-based real estate developer Binghatti Properties, and German automaker Mercedes-Benz, announced a tie-up to build a towering new branded residence in the emirate of Dubai. The reveal of the groundbreaking project...
Las Vegas hotel brands MGM, Bellagio, and Aria are planned for the plot Dubai is home to Bluewaters Island, Jumeirah Bay Island, Palm Jumeirah, Palm Jebel Ali, Pearl Jumeira, World Islands, and Dubai Islands, and now there are plans for a 10.5-hectare island, named The Island, to join the city’s off-shore line-up. Located off the coast of Umm Suqeim, near the Jumeirah public beach next to the...
Rise in foreign fund inflows fuels a surge in the rally along with tenants turning into property ownership, and availability of ready-to-move-in properties, among others. Property prices rally in Dubai will continue next year, but the pace will slow down compared to 2023, with a growth rate of up to 10 percent projected on the back of strong demand from residents, investors, and high-net-worth...
In 2024, the real estate market in Dubai is expected to expand by about 15%, according to artificial intelligence (AI)-driven research of property markets in key cities worldwide, while the London real estate market is expected to continue to decline. According to the study, Dubai’s real estate industry will be a shining example of growth in 2024. “Fuelled by resilient demand, a buoyant economy, and...
A promising new venture opens the door to huge returns for investors. Experience the perfect blend of luxury living and robust investment potential, nestled in the heart of the United Arab Emirates. The UAE, renowned globally for its breathtaking architecture and booming real estate, is the ultimate destination for discerning investors. Now, a promising new venture is on the...
Real estate costs are likely to rise further over the next 5 years The Dubai property market, which continued its upward march for the 11th consecutive quarter in Q3 2023, will see “substantial price growth” over the next five years as prices remain “very cheap” when compared to other major global cities as well as undersupply in the coming years, said analysts. Property prices in Dubai are...
City is home to 210 people with wealth of $100 million or more, which could rise by 78% by 2023 Dubai is now home to 210 centi-millionaires, individuals worth $100 million or more, a figure which could rise by 78% in 10 years, according to new research. Henley & Partners said the city is ranked 16th out of 50 globally for the number of people who have wealth of $100 million or more and is...
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...