dubainews

Off-plan sales have been going up since the beginning of the year 2024. According to QUBE Development, the real estate market in the UAE is expected to reach AED 2.5 trillion, or $681 billion, by the end of this year due to the strong off-plan property market. This market has become a prevalent market and accounted for 65 per cent of total real estate deals last August.The off-plan sales market, wherein...

UAE real estate sector driven by off-plan market as investors seek value from property pipelineThe UAE real estate market is anticipated to reach a value of AED2.5tn ($681bn) by the end of 2024, according to QUBE Development. The growing surge is due to various factors with the off-plan market being the major contributor and responsible for 65 per cent of overall sales transactions for the month of...

Gift Solomon left her home in Nigeria to find better prospects in the UAE and she now heads a company worth over Dh15 million.When Gift Solomon arrived in Dubai in 2015, she was a 23-year-old with dreams of making it big in Dubai, a city known for opportunities. Like many who seek greener pastures, Solomon left her home in Nigeria to find better prospects in the UAE. But the journey wasn’t as easy as she...

In a global ranking, the real estate markets of Dubai and Abu Dhabi have made the biggest strides in transparency, landing in 3rd and 4th place for improvements. That is according research from JLL.The improvements in these UAE real estate markets is largely linked to increased government focus on data transparency and major digitalization efforts. Those include technology-focused initiatives designed to...

Keyper introduces rent-now-pay-later Dubai real estate service to spread cost of renting property in the UAE.A Dubai real estate firm has announced a rent-now-pay-later (RNPL) service as it looks to transform the property rental market in the UAE. Keyper said the RNPL Marketplace gives tenants the option to pay rent in 12 monthly instalments instead of upfront for the year.The marketplace curates a...

The consistent rise in rentals over the past three years has boosted property owners’ incomeProperty owners in Dubai on average earn over Dh13,000 or 41 per cent more than tenants, reflecting a significant difference in income, according to a new study.Released by real estate consultancy Betterhomes, 'The Future Living: The Dubai 2024 Edition' showed tenants’ average income is Dh32,303 while property...

Centi-millionaire communities have grown globally by 54 percent over the last decade America and China have experienced a centi-millionaire boom, significantly outperforming their European counterpartsCenti-millionaire communities currently include 29,350 individuals worldwide with liquid investable assets of $100 million or more, according to the Centi-Millionaire Report 2024 by Henley & Partners....

Many owners will put their properties on short-term rental platforms as demand increases due to tourist inflow, according to Danube Properties chiefDubai property market is unlikely to experience an oversupply over the next four to five years, even with numerous launches in recent years, as high demand is expected to absorb the new supply.Rizwan Sajan, founder and chairman of Danube Properties, said there...

The Dubai real estate sector saw $3.6bn of transactions last weekThe Dubai real estate sector recorded more than AED13.36bn ($3.6bn) of transactions last week, according to data from the Land Department. Sales dominated the figures, with AED10.01bn ($2.7bn), according to Land Department data.In total there were 4,243 sales transactions recorded between September 16 and September 20. Dubai real estate...

MERED expands into Abu Dhabi with Al Reem Island properties make most of ADGM ecosystemDubai real estate developer MERED is strengthening its footprint in Abu Dhabi by acquiring two adjacent prime waterfront plots on Al Reem Island. This acquisition highlights MERED’s continued success and strategic growth, delivering state-of-the-art residential and commercial developments across the capital...