Emaar Properties PJSC reported a considerable increase in first-half profitability, supported by strong real estate sales and improved recurring revenue business performance. This performance is evidence of consumers’ sustained trust in the Emaar brand and of Dubai’s economy’s broader post-pandemic recovery, which was driven by the real estate market. Emaar reported high first-half revenue of...
According to data supplied by Dubai’s Land Department (DLD), the real estate market in Dubai had 436 sales transactions worth AED 971.4 million on Tuesday, along with 101 mortgage transactions for AED 1.38 billion and 17 gift transactions totaling AED 55.13 million. More than AED 2.4 billion has been spent on real estate as a result of sales of 360 villas and apartments for AED 738.88 million,...
The week of August 5, 2022, had a total of 5.3 billion AED worth of real estate and property transactions. 2,247 transactions were made in total. 1,510 flats and villas were sold for AED2.79 billion, while 255 plots were sold for AED1.24 billion. A land in Hadaeq Sheikh Mohammed Bin Rashid was sold for AED106.57 million, coming in the first place, and land in Island 2 was sold for AED90 million,...
According to the Savills Dubai Office H1 2022 – Market in Minutes report, Dubai’s office market has remained resilient over the first half of 2022, helped primarily by the ongoing demand for Grade A office space, which has also resulted in a steep decline in vacancy levels for this segment. According to the research, there has been a high demand for occupants due to a robust local economy, where...
According to Sharjah 24, Sharjah Municipality (SM) reported that the percentage of rental contracts in the city of Sharjah increased by 6% in the first half of this year compared to the first half of last year. The SM has made it easy for dealers to ratify these contracts in a variety of ways, which supports its objective of boosting residential, commercial, and tourist attractions.(Sharjah) In this...
According to data issued by the Dubai Land Department, 2,285 real estate transactions of AED6.8 billion were completed for the week ending July 29, 2022. For a total of AED1.35 billion, 254 plots were sold; for AED3.35 billion, 1,516 apartments and villas were sold. The top three transactions included the sale of land in Hadaeq Sheikh Mohammed Bin Rashid for AED100.53 million, followed by the sale...
RAK Properties reported revenue of Dh193.99 million in the first half of 2022, down from Dh265.10 million in the year-ago period, it reported on Sunday. In the same quarter, net profit decreased to Dh25.55 million from Dh119.81 in H1 2021. In the first half of this year, the company’s (RAK Properties) assets climbed slightly to Dh6.23 billion from Dh6.21 billion in the corresponding time in...
Residents of multiple communities in Dubai have been paying rent cheque-free since 2019. A top official from Dubai Holding Asset Management, which manages 15 communities, said the company rolled out the payment option when it launched the ‘DubaiAM Life app. Communities covered under the scheme include Remraam, Layan, Ghoroob, Ghoroob Square, Shorooq, Dubai Wharf, Manazel Al Khor, and Al Khail...
As buyer interest in Sharjah and the larger UAE real estate markets grows, Arada has seen a 30% increase in the value of properties sold in the first half of 2022. As a result of persistent demand for large, integrated communities surrounded by greenery, the developer achieved AED1.49 billion in sales at its two Sharjah megaprojects, Aljada and Masaar. Arada's first public financing transaction, a...
According to the most recent report from the Department of Municipalities and Transport, Abu Dhabi's real estate sector has been steadily expanding due to investor optimism, with 7,474 property transactions totaling more than AED22.51 billion (DMT). Various types of land, structures, and real estate were bought, sold, and mortgaged, according to the department's half-yearly report.( Abu...
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