According to a market summary of the year’s first quarter by property consultant JLL, approximately 10,000 units were completed in Dubai Q1 2024, increasing the total stock to 729,000.Over the coming nine months, an additional 25,000 units are scheduled for delivery in the emirate, primarily consisting of apartments in prominent areas such as MBR City, Business Bay, Jumeirah Village, and Dubai Land.JLL...
The real estate market in Dubai is flourishing, drawing local and foreign investors keen to invest in property for promising returns.Yet, as demand for Dubai property continues to soar, along with its prices – navigating Dubai's dynamic real estate market is becoming far more challenging.In February this year, apartment prices had already risen by 0.83% compared to January. According to the Property...
A recent report showed that more than 8,000 new properties entered the Dubai real estate market during the first quarter of 2024.According to Cushman & Wakefield Core’s Q1 market report for Dubai, more than 8,351 units were handed over during the first 3 months of 2024, which were “in line with market demand.”Between Q2 and Q4, 29,690 units will be handed over, bringing the yearly prediction to...
Dubai's Booming Real Estate MarketDubai's bellowing real estate space greets a newbie to the market as AMWAJ Development progresses with the launch of Starlight Park in Meydan.Set to be a four-building family-centric community in District 11, the company plans to develop over 1.5 million square feet of new residential projects by 2024 and over 2 million square feet of construction by 2025.Starlight Park...
British investors are driving Dubai’s real estate market. Industry insiders told Arabian Business that they are flocking to the UAE in record numbers to buy properties and settle down, with high rental yields, lured by tax benefits and a luxury lifestyle.Data from top Dubai property agencies shows an exceptional surge in dealings from UK nationals over the past year, outpacing traditionally dominant...
On Sunday, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai announced the expansion of a new passenger terminal at the Al Maktoum International Airport in Dubai South.The planned expansions of the new airport in Dubai are valued at AED128 billion (approximately $34.8 billion) and are expected to be five times larger than Dubai International Airport...
Swank Development Opens Office in DubaiSwank Development, a real estate developer from Portugal, has recently opened an office in Dubai and plans to launch its first project in Meydan, Mohammad bin Rashid City."Dubai is one of the top global destinations for business and living. Its thriving economy, superior lifestyle, advanced infrastructure, and safety and security distinguish it from other regional and...
Transactions Surge 49.9% Compared to 2023 AED 1.46 billion worth of real real was exchanged in 1169 transactions in Ajman in March. This represents a noteworthy growth of more than 49.9% as compared to the identical time in 2023. Al Helio 1 Area Sees Highest Sales Value The Director General of the Department of Land and Real Estate Regulation in Ajman, Engineer Omar bin Omair Al Muhairi,...
The real estate sector in Dubai remains robust, with both off-plan and secondary/existing properties experiencing notable growth in sales.Investors and homeowners alike are witnessing appreciable increases in property values, with yields showing consistent year-on-year improvements, as reported by property specialist Haus & Haus Real Estate.The company has released its Dubai Market Reports for Q1,...
Many landlords in Dubai have begun increasing rents upon renewal of residency contracts after the Real Estate Regulatory Authority (RERA) reworked its rental index, allowing property owners to extend rents to align with the market value.Industry leaders, however, say that many residents in the emirate will only have to pay more increased rents later this year or early next year when their present tenancy...