February 2024

Short-term rentals are emerging as a major second income for UAE residents as they are high in demand and offer much higher returns. Industry executives say that many first-time property owners are listing their properties for short-term rentals to earn a second income. Similar to other sectors, the short-term rental market also took a hit during the coronavirus pandemic in 2020 but recovered sharply...

For UAE residents, rents are one of the biggest costs that they bear every month. For some of the residents, it accounts for the highest expense of their monthly or yearly budgets. Rents have been consistently on the rise across the UAE over the past three years due to the massive influx of foreign workers into the country as the economy expanded at a strong pace. In the last quarter of 2023,...

Dubai’s real estate market stands out as a lucrative investment destination, offering a range of benefits for investors. Its performance and rebound since the pandemic has put it among the top global performers in the real estate prime residential assets class. Dubai recorded its strongest ever performance with 1.6 million transactions (from sale-purchase to lease-rental agreements), with 166,000...

Dubai: The number of Dubai residential property listings on online real estate platforms is starting to come down drastically after the RERA (Real Estate Regulatory Authority) crackdown and bring in extra layers of transparency on what’s being sold and by whom. This has effectively meant that ‘multiple’ listings of the same property and often showing different asking prices are getting removed...

Dubai: The Dubai Metro Blue Line project will commence this year and will encompass 14 stations, including three interchange stations, connecting key areas of Dubai, the Dubai Roads and Transport Authority (RTA) said on Sunday. “The year 2024 is set to mark the commencement of the Dubai Metro Blue Line project, which will stretch over a total of 30 km, with 15.5 km running underground and 14.5...

With top speeds of 320 km/hr, air taxis in the UAE could cut travel time between Dubai Airport and Palm Jumeirah from 30-45 minutes to 10 minutes. That is according to Ahmed Bahrozyan, CEO of the Public Transport Agency at Dubai’s Roads and Transport Authority. “With the speed, range and limited charging time, these vehicles can take passengers from Dubai Airport to the vertiport in Palm Jumeirah...

Dubai’s regulatory authority imposed fine of Dh50,000 each to 30 real estate companies for failing to comply with the terms and conditions specified in real estate advertisements. The Real Estate Regulatory Agency (Rera), the regulatory arm of the Dubai Land Department (DLD), established terms and conditions to govern advertisements and curb negative practices within the industry. The authority asked...

Dubai: For many expats, owning a home is a long-term goal, and a mark of financial stability, to which many assume huge amounts need to be saved/invested for years. However for UAE residents, it might actually be better – and cheaper – to buy instead of renting. Paying Dh6,000 for 20 years in rent sums up to around Dh1.4 million – this is without accounting for inevitable rental increases. In the...

Dubai has secured third place among Top 10 prominent global cities – besting NewYork, London, Tokyo, Sydney, Johannesburg, Paris and San Francisco – based on therecent rankings by UK-based The Economist. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai andChairman of The Executive Council of Dubai, tweeted about this achievement onFriday, saying: “Dubai secured the third...