For the week ending March 24, 2023, 3,164 real estate transactions of AED8.6 billion were completed, according to figures released by the Dubai Land Department. (DLD). The DLD data shows that 218 plots were sold for AED1.9 billion while 2,177 apartments and villas were sold for a total of AED4.73 billion. The top three deals involved two Palm Jumeirah properties valued at AED 550 million and AED 74...

The real estate market in Dubai had 434 sales transactions worth AED1.83 billion on Tuesday, along with 86 mortgage deals totaling AED426.46 million and 139 gift deals totaling AED123.6 million, according to data provided by Dubai's Land Department (DLD). AED944.57 million worth of 395 homes and apartments were purchased, along with 37 land plots for AED889.15 million. The mortgages were for 66...

Prominent Dubai real estate developer Binghatti recently announced that construction of Binghatti Creek, located in Dubai Healthcare City's Al Jaddaf neighborhood, has been completed far sooner than anticipated. The project's completion date is viewed as excellent considering that the initiative was initially announced on March 25 of last year. Once more, Binghatti Developers completes a sizable...

With the help of new launches including the Cavalli tower and the Lagoons, Dubai master developer Damac declared a net profit of Dh1.4 billion in 2022 (as opposed to a deficit of Dh528 million the year before). The unexpected rise in demand for off-plan real estate purchases in Dubai has been quite advantageous for Damac, with the water-themed Damac Lagoons proving to be an instant hit. Hussain...

Expo City Dubai will begin selling residences priced from Dh1.2 million ($330,000) as developers attempt to transform the former world’s fair site into a lively residential zone. It is anticipated that the first phase of villas and flats will be finished on the site in Dubai South by January 2026. With prices starting at Dh3.4 million, the first phase of Expo Valley will include 165 units,...

Six business groups specifically focused on the real estate sector have been established, according to the Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers. The new groups concentrate on businesses involved in the real estate industry, such as developers, evaluators, renters, facility managers, interior decorators and interior designers, and engineering consultants....

According to a recent survey, 66% of ultra-high net worth people (UHNWIs) who own property in Dubai use it as their primary residence, demonstrating the preference millionaires have for living and taking advantage of the emirate’s high standard of living. There are 830 UHNWIs, or millionaires with assets of $30 million or more (about Dh110 million), who are primary and secondary homeowners, according...

The ultra-luxury St. Regis Residences on Financial Centre Road in Dubai sold out of 70% of its units in the first hour of opening, generating nearly Dh1 billion in sales. The project was in high demand in a market supported by the premium segment and showing no signs of slowing down. "It is safe to state that St. Regis Residences, Financial Centre Road was specifically designed to meet the needs of a...

Dubai once again topped the global Prime International Residential Index 100 (PIRI 100) for 2022 while claiming 16th rank among the most expensive cities for luxury properties, underscoring its growing allure and affordability to the world's super-rich. Prime residential prices accelerated at the world's fastest pace last year. Prime residential prices in Dubai increased by 44.2% in 2022, compared to a...

Dubai is coming up to New York and Los Angeles in terms of luxury real estate. Dubai is the busiest luxury real estate market in the world, followed by New York, Los Angeles, and London, as a result of the influx of wealthy investors looking for safety from the geopolitical and economic upheaval occurring throughout the world. The Middle Eastern economic powerhouse sold 219 properties last year for...