New Launch Announcement Expo City Dubai has launched the first phase of Sidr Residences, a new three-tower development of one- to four-bedroom apartments priced from AED1.88m ($512,000) and ready to move in by 2027. Project Background After Mangrove Residences and Sky Residences sold out earlier this year, Expo City's third residential apartment complex, Sidr Residences, gives prospective homeowners and...
Transaction Volume and Value The first 9 months of 2024 saw a 47% rise in Sharjah's real estate transaction volume over the previous year. With 69,078 transactions overall, the value of these transactions totaled Dh28 billion, representing a 16.5% increase over the same period the year before. International Investment Profile Sharjah real estate has attracted 114 different nationalities in the same time...
A record number of apartments are anticipated to be handed over in the final quarter of this year, indicating that Abu Dhabi's secondary real estate market is poised to flourish, according to Metropolitan Capital Real Estate (MCRE). According to MCRE, leading developers are anticipated to produce up to 4,000 villas and townhouses in Q4 2024, with Yas Island alone making about 40% of all units available...
Property prices and rents in Dubai will remain stable over the next 18 months and could decline afterward due to increasing supply following many new project launches after the pandemic, analysts at S&P Global on Monday. A note issued by the international ratings agency said that Dubai's property market will remain resilient, and there has been no impact of the regional geopolitical conflict on the...
With a total investment of AED 250 million ($68.1 million), Dubai real estate developer Jad Global Real Estate Development has announced the groundbreaking of its latest project, "171 Garden Heights." The project is part of an AED1 billion ($272 million) planned investment in the area and is situated within the Meraas-led Jumeirah Garden City development. There are 171 wholly furnished residential...
A Marvel of Slender Design The Muraba Veil, Dubai's newest architectural marvel, will draw notice due to its skinny shape rather than its towering height. Standing 380 meters tall and only one unit wide, this skyscraper will be among the thinnest ever constructed. Prime Location This remarkable 22.5-meter-wide tower, which challenges traditional skyscraper aesthetics and makes a powerful statement in...
Out of all the major cities in the world, Dubai's property market is expected to develop at the fastest rate this year; nevertheless, the high level of new supply may cause a mild correction in the near run.According to UBS Global Real Estate Bubble Index 2024 released on Tuesday, Dubai's score has increased from 0.14 in 2023 to 0.64 this year. Meanwhile, the emirate's ranking in the index has risen from...
Impact of Federal Reserve Rate CutAccording to experts, the US Federal Reserve's decision to cut interest rates by 0.5% will positively impact the UAE property market. Local banks are expected to lower mortgage rates in the coming days and weeks.The Fed's first rate cut since 2020 may result in substantial savings and more affordability for potential UAE homebuyers as mortgage rates decline. Lenders may...
Dubai’s real estate market has stabilized following significant price increases in off-plan properties during 2023, according to a report by Better Homes.The market witnessed a spike in off-plan property prices over the last year, driven by high demand and limited supply in critical areas.Prices in high-demand locations such as Dubai Hills Estate, Business Bay, and Jumeirah Village Circle surged 15-30...
In the first half of 2024, Dubai's residential resale market grew significantly, according to a recent Metropolitan Homes survey.The ‘H1 2024 Residential Resale Market Review 2024’ revealed that transaction volumes increased 17.8% year-over-year to 27,949, while transaction values rose 23.1% to AED76.34 billion.The market soon recovered despite the extraordinary floods that occurred in April, and in...