The AED1 billion Nordic by fäm development is at the heart of this transformation, featuring 17 villas and mansions near Dubai’s Central Business District and lifestyle landmarks. A new phase of development is underway in Dubai’s Al Wasl District, with AED7 billion worth of villas and mansions being constructed. The area is titled as the ‘Downtown Villas of Dubai’, offering freehold homes in...
OPEC forecasts growth of the UAE economy as real estate, tourism, and manufacturing thrive The UAE economy continues to demonstrate robust growth, particularly within non-oil sectors such as real estate, tourism, and manufacturing, according to the Organisation of the Petroleum Exporting Countries (OPEC). In its Monthly Oil Market Report (MOMR) for August 2024, housing, water, electricity, gas, and...
Villa prices in ten Dubai communities have more than doubled in the past four years, driven by the higher demand from residents and high net-worth individuals who relocated to Dubai. According to the latest data released by global real estate consultancy ValuStrat, Arabian Ranches, Dubai Hills Estate, Emirates Hills, Green Community West, Jumeirah Islands, Jumeirah Park, Palm Jumeirah, The Lakes, The...
Emaar Properties, real-estate developer, on Tuesday launched Dh55-billion The Heights Country Club & Wellness, which will span over 81 million square feet. Located 10 minutes from Al Maktoum International Airport, the project will house townhouses and semi-attached villas, a wellness center, parks, ponds, lush greenways, and a country club. It also features cycling and jogging tracks, expansive...
The UAE’s allowance of 100% foreign ownership of companies and more flexible visa arrangements to contribute to surge in both capital and talent inflow. The rare feat of Dubai top ranking global greenfield FDI (foreign direct investment) projects attraction in 2023 for the third successive year will act as a major confidence booster for investors, triggering increased capital flows into the UAE, driving...
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....
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...
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...
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