Real estate and property transactions totaling AED10.9 billion were completed during the week ending July 22, 2022. There were a total of 2,509 transactions. 263 plots were sold for AED1.46 billion, and 1,716 apartments and villas were sold for AED3.67 billion. The top three transactions, according to the DLD weekly report, were a land sale in Burj Khalifa for AED167.09 million, a land sale in Al...
Ras Al Khaimah master-developer Al Hamra is gauging demand for luxury villas with pricing starting at Dh6.2 million and ranging up to Dh15 million at its Dh1 billion Falcon Island development. Early investor feedback indicates that the developer is doing well. "We sold the seven-bedroom Dh15 million villa before the second phase of Falcon Island homes were released," said Benoy Kurien, Group CEO of Al...
After recently exiting a Dubai Marina property investment, SmartCrowd, the MENA region's first and largest real estate crowdfunding platform, delivered its investors a 39.25 percent total net return (rental income + capital gains) over a 17-month period, and a 27.92 percent annualized return. The studio apartment in Marina Bay Central, Dubai Marina, was purchased by 53 investors on the SmartCrowd...
A Dubai Royal Decree provides incentives to property funds that invest large sums of money in the regional commercial real estate market. To be eligible for the benefits, these funds must invest at least Dh50 million in the properties, according to the Decree. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, issued it. According to...
Residential rents in most areas of Dubai continue to rise, with Discovery Gardens, Living Legends, Downtown, Jumeirah, and Dubai International Financial Centre (DIFC) experiencing the greatest increases. According to real estate analysts and industry executives, rents are increasing at the fastest rate in the last eight years, owing to the increase in population following Expo 2020, as well as the...
According to Dubai Land Department data, there were 5.5 billion dirhams in real estate transactions in the week ending July 15. There were 1,614 transactions in the emirate, including the sale of 1,004 flats and villas for Dh2.43 billion and 186 plots for Dh594.72 million.(Burj Khalifa) The top transactions, according to the DLD weekly report, involved a property in Ras Al Khor Industrial First that...
Real estate and property transactions totaled 5.5 billion AED in the week ending July 15, 2022. There were a total of 1,614 transactions. According to Dubai's Land Department (DLD), 186 plots were sold for AED 594.72 million, while 1,004 apartments and villas were sold for AED 2.43 billion. The top three transactions, according to the DLD weekly report, were land in Ras Al Khor Industrial First that...
During the four-day Eid Al Adha holidays from July 8-11, at least 5.6 million Dubai residents and visitors used public transportation to get around the city's landmarks, according to RTA. The Roads and Transport Authority operates public transportation, taxis, and shared mobility systems (RTA). The Red and Green Lines of the Dubai Metro served approximately 2,150,000 residents, while the tram...
His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, issued a directive last week widely regarded as a progressive step toward improving the rights of children born to Emirati mothers by foreign fathers, granting them the same benefits as other citizens in healthcare and education. It is a welcome decision that rekindles the hope of affected families that they will be granted full...
Property Finder, the region's leading proptech firm, has launched 'SuperAgent,' the Middle East and North Africa's (MENA) first AI-driven ranking system powered by an in-house data platform — Agent Data Assistant (ADA). The new mechanism, which debuted at the end of last year, employs millions of data points to assist homebuyers in locating the most responsive agents with up-to-date and proven...
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