Business

Continuous surge in the number of professionals from around the world moving to Dubai for work and lifestyle, coupled with the rising property prices in the emirate are cited as reasons for the expected spike in rentals next yearDubai’s real estate market is anticipated to experience organic growth, signalled by rising property values, an increase in new towers, and higher transaction volumes in both...

Drawn by low taxes, high returns, safety and its status as an international transit hub, the city of skyscrapers - Dubai - has registered rising interest from global investors, including Indian high net worth individuals (HNIs). Since 2021, Dubai's property market has recorded a consistent rise in the average value of residential property transactions, including villas and apartments.Dubai’s property...

Many landlords are becoming flexible in terms of payment from tenants and are also issuing fewer eviction notices, say industry executives.“With demand at an all-time high and rental prices continuing to increase steadily, many landlords are offering more flexible payment terms,” said Lewis Allsopp, chairman of Allsopp & Allsopp.Rental demand in Dubai is increasing rapidly, with over 140,000 new...

In recent years, the global focus on luxury real estate has impacted the urban dynamics in many cities. High-end developments brought higher land prices, higher construction costs, and higher prices for housing in addition to increasing gentrification.While such schemes may offer economic growth and possible improvement of the infrastructure that often comes with it, they can also bring significant...

The purchase brings the Dubai firm’s total investment in the Canal district to AED9 billion, encompassing existing and planned developmentsThe latest acquisition brings Driven Properties' total investment in the Canal district to AED 9 billionDriven Properties has completed an AED 259 million acquisition of two buildings in Dubai’s Canal Front district along the Jumeirah Water Canal, making it the...

Binghatti Skyrise development sells 50 percent of units within 24 hours of launchThe $1.4bn Binghatti Skyrise development in Dubai sold 50 per cent of its units sold within 24 hours of launching.The unveiling event, held at The Meydan Hotel’s Sky Bubble on October 30, attracted more than 5,000 guests, including prominent investors and high-net-worth individuals from the region.Binghatti revealed the...

The latest Royal Institution of Chartered Surveyors’ (RICS) Global Commercial Property Monitor found the UAE continuing to post some of the most elevated results across all nations covered in the monitor, with recent robust impetus showing little sign of easing.Overall occupier demand remained in firm growth territory, recording a +57% result (net aggregate sentiment), with offices leading the pack at...

QUBE Development announces Arisha Terraces in Dubai Studio CityQUBE Development has announced the launch of a new Dubai Studio City project as it looks to expand its AED2.6bn ($708m) property portfolio.Residential development Arisha Terraces is the third project in QUBE’s) portfolio and includes 419 modern units, spanning across four low-rise buildings.It has 122 different apartment layouts and a...

Dubai has solidified its position as a top global city for talent and connectivity, ranking first worldwide for ease of entry for talent in Kearney’s latest Global Cities Index.Known for its forward-thinking immigration and expat policies, Dubai seeks to attract skilled professionals and entrepreneurs to diversify and strengthen its economy. Ranked 24th worldwide in Kearney’s index, Dubai has...

Dubai’s real estate market is witnessing a remarkable surge in land and plot prices, driven largely by booming off plan sales. This is creating new opportunities for investors, but they must be alert in order to capitalise.The off-plan market, which now accounts for approximately 55 per cent of Dubai’s total real estate transactions, has experienced steady growth over the past few years, and currently...