The Dubai real estate sector recorded AED12.9bn ($3.5bn) of transactions this week, according to data presented by the Dubai Land Department.A total of 1,659 real estate transactions were conducted during the week ending October 13.The report showed that 297 plots were sold for AED5.08bn ($1.4bn), while 1,362 apartments and villas were purchased for AED4.57bn ($1.2bn). Dubai real estate this weekThe...
Alarm bells are ringing loud across businesses in Dubai in the wake of a runaway increase in office and retail spaces rentals – estimated to be up to 300 percent in some of the prime areas in the last 24 months – due to an acute demand-supply crunch in the commercial real estate sector in the city, industry insiders said.The steadily deteriorating situation is said to be giving sleepless nights to...
Growing investor demand from Russia and China has helped fuel exponential market growth in the UAE, especially in Dubai’s luxury real estate segment, industry insiders told Arabian Business. As geopolitical tensions and economic uncertainties persist at home, wealthy individuals from these two countries have turned to Dubai in increasing numbers, chasing high yields and a safe haven for their...
Metropolitan Capital Real Estate (MCRE) has unveiled an exclusive listing for the most expensive luxury villa in Abu Dhabi.Priced at AED98 million, this residence is located within the Ohana by The Sea development, a luxurious coastal community situated conveniently between Abu Dhabi and Dubai.Expected to be handed over in Q4 2025, this seven-bedroom beachfront mansion spans an impressive 32,000 square...
Dubai’s MERED and Mirage have partnered to develop a new residential landmark in the city. The partnership will see the development of what aims to be an ultra-high-end project set to come to completion in three years.The project will feature 311 apartments and offer residents amenities that include spas restaurants, kids club, BBQ area, yoga areas, retail outlets, and an infinity pool.Mirage’s...
Are office rents expected to continue rising? This is a question we are often asked, and the short answer when analysing the current supply and demand is that the only way office rents and occupancy levels are going in the near term is up.Coming off the pandemic dip, Dubai’s office market continues its upward trend in rents and occupancy levels across the city at record levels driven by positive economic...
Long queues of property agents at the launch of villas by Nakheel at Palm Jebel Ali last week reminded us of similar queues that used to be formed during the first property boom in Dubai in the pre-global financial crisis of 2008-09. This proves that Dubai's property market has not lost its steam and the ongoing rally will go a long way.It is not just a high return on investment or capital appreciation...