Business

Property investors and landlords in Dubai who had put their faith in short-term rentals have been amply rewarded all through December, with year-on-year rate increases even touching highs of 50 percent, according to market sources. A significant number of these bookings are for an entire week’s worth of stay, with apartment leases averaging Dh1,500-Dh2,500 a day depending on location, scale of demand,...

Dubai and Abu Dhabi saw property price gains in the opening months of 2024 The UAE real estate market continues to thrive with Dubai and Abu Dhabi both recording sales price and rent increases, according to CBRE Middle East’s Residential Market Review for the first quarter of 2024. Dubai villas saw the sharpest increase in sales prices with average prices climbing more than 22 percent year-on-year....

The occupier market in Dubai and Abu Dhabi recorded strong levels of activity in the first quarter, propelled by demand due to an increase in new rental registrations. In Dubai, occupier activity remained robust over the first quarter. Data from the Dubai Land Department revealed that the total number of rental registrations reached 46,850 registering an increase of 35.8 per cent compared to the previous...

Some developers in Dubai are offering and paying for multiple Golden Visas to investors and their family members in order to attract high-net-worth individual buyers. Investors and end-users buying property worth Dh2 million or above are eligible for the 10-year residency programme in the UAE. Damac Properties, the largest private developer in Dubai, has been offering three Golden Visas to buyers of...

Overall residential units sold in Dubai have almost reached the total numbers of 2023, data showed on Monday. According to Emirates NBD’s Residential Market Monthly, total residential units sold year to date (YTD) have reached 104,250, only 14,000 units short of the total transactions recorded in 2023. “We anticipate activity levels to remain relatively stable for the remainder of the year,...

Dubai’s real estate market is booming, but buyers face specific financial requirements and hidden costs – here’s how much you should be earning to buy property worth $1 million, according to experts. Dubai’s real estate market is booming, with property transactions hitting record highs. As local and international investors pour into the emirate, the $1 million price point has become a key...

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 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...