Business

DAMAC Properties – one of Dubai’s largest private developers – has launched its own luxury airline on Monday, DAMAC Air, stated an official announcement by the company on its website.The developer has been posting teasers of the upcoming airline on Instagram with information about destinations and a promotional offer to win a free trip.The website describes the new airline as redefining luxury travel...

Dubai is a developing economy showcasing promising potential, thanks to its government’s visionary leadership. The past years have seen sustained investments in infrastructure as well as regulatory improvements. And for Atif Rahman, founder and chairman of ORO24 Developments, this solid foundation is essential for robust economic growth, and for the continuing success of Dubai’s freehold real estate...

Second-quarter growth brought the total GDP in H1 2024 to AED231 billion, a 3.2 percent rise over the first half of 2023 The real estate sector experienced a growth of 2.6 percent in the second quarter of 2024, accounting for 8.7 percent of Dubai’s GDPDubai’s GDP in the second quarter of 2024 grew 3.3 percent year-on-year to reach AED116 billion ($31.6 billion), His Highness Sheikh Hamdan bin Mohammed...

The last available statistics from Land Sterling show that Dubai’s property sector clocked more than 47,300 transactions in the third quarter of 2024 for AED 116.8 billion, approximately $31.8 billion. Transaction volume increased by a stunning 42 percent during the same period last year, while the value in terms of transactions saw an approximate 33 percent growth.This volume and value growth highlights...

Damac Properties, one of Dubai's largest private developers, is set to launch its own luxury airline, Damac Air.The upcoming airline has announced six sought-after holiday destinations: Seychelles, Maldives, Bali, Bora Bora, Fiji, and Hawaii.Damac has been been sharing teaser videos and content on its social media channels, and Khaleej Times has reached out to the company for further details.“We offer...

Dubai: Developers in Dubai are in a rush to launch their latest projects or release more offplan units at their existing ones – but this time it’s not just about trying to meet demand.A recent report by global rating agency S&P spoke about the chances of likely price corrections in the Dubai property market at some point in the next 18 months or so, which could ‘lead to lower prices and...

The Dubai real estate market has set a new milestone, with AED 61.5 billion ($16.7 billion) in transactions recorded in October, marking a 56% increase over the same period in 2023. This surge in activity represents the highest monthly transaction value ever recorded in the city, supported by 20,670 transactions—a significant 71% increase from October of last year, according to Property Finder.Rising...

UAE strategies for transport, investment and real estate, Qatar tourism, Bahrain Golden Visas and more of the biggest stories this weekThe UAE has announced strategies for investment, transport, savings and education in the past week as it looks to outline an environment for growth in the region.Elsewhere Bahrain has given an update on its Golden Visa scheme, Qatar is welcoming tourists from across the GCC...

UAE-based Reef Luxury Developments, a pioneer in innovative real estate solutions, has announced the launch of Reef 1000, a transformative boutique project featuring 125 unique homes located in the Dubai Land Residential Complex.An AED175 million project, Reef 1000 offers a variety of floor plans, including studio units with four different ranges, a one-bedroom unit with eight types, two-bedroom units with...

Camilla Dell, Managing Partner and Founder of Black Brick, a premier buying agency specializing in London real estate, is gearing up for a notable visit to Dubai and Riyadh in November. This strategic trip aims to connect with Middle Eastern investors and shed light on the enduring appeal of London's property market, even amid shifting economic landscapes.London continues to capture the interest of Middle...