ROI

UAE interest rates drop: More Dubai property buyers opt for mortgage over cashShift from Cash to Mortgage FinancingDue to declining interest rates both domestically and internationally, more and more Dubai property purchasers are choosing mortgages over cash payments. Betterhomes, a real estate firm, reports that, in contrast to the previous year, when cash purchasers dominated the market, there has been a...

The Dubai real estate market has seen a record-breaking sale as a fully glorified, ready apartment on Jumeira Bay Island has been sold for AED17,000 ($4,600) per Sq.Ft. It symbolizes the highest ever attained for a ready apartment in Dubai. The apartment is on an elevated floor and delivers dual panoramic views of the iconic Bulgari Marina and Dubai skyline. Dubai real estate sales record Real...

The most significant lease contract in Dubai's history was just secured, marking a notable milestone for the ultra-luxury real estate sector in the city. Record-breaking lease details They are leasing the elite Jumeirah Bay Island villa for a year, costing Dh15.5 million. Toni Abou Jaoude, the sales and leasing manager for Betterhomes' local business, acted as a mediator for the deal on behalf of...

DAMAC Properties, a real estate developer in Dubai, has announced the opening of DAMAC Sun City, its sixth master community. Located in Dubailand, the new development promises wellness-focused living, nature, and modern luxury, benefitting physical, mental, and overall resident well-being. Mohammed Tahaineh, General Manager of Projects at DAMAC, said: “These are exciting times for us at DAMAC...

Investment Plan By the end of 2025, Reef Luxury Developments plans to have invested Dh14 billion across 30 different developments in Dubai, delivering 5,000 new residential apartments to the market. The city's newest real estate player announced it has built a land bank in multiple locations and plans to start Dh5 billion worth of projects in the next three months. It will provide affordable pricing...

Project Launch and Market ContextWith the official start of construction, Major Developers has significantly improved Ras Al Khaimah's luxury real estate market with the Manta Bay project.The real estate market in Ras Al Khaimah has been increasing, as seen by the 15% rise in transactions and value in the first half of 2024, which is a sign of strong investor confidence and a healthy market. This coincides...

According to figures from the Land Department, the Dubai real estate market saw transactions totaling more than AED19 billion ($5.2 billion) last week.According to Land Department data, sales dominated the figures, with AED12.48bn ($3.3bn).Between September 23 and September 27, 4,609 sales transactions were registered.Dubai real estate this weekAmong the top sales transactions listed on the Land Department...

Project OverviewIn the center of Jumeirah Village Circle (JVC), the premium residential project The Orchard Palace, designed with European influences, has entered its second phase, according to developer Peak Summit Development of Dubai.The developer said the project's progress is advancing fast, with the construction of a new tower – Tower C – currently underway.Construction ProgressThe first phase,...

Out of all the major cities in the world, Dubai's property market is expected to develop at the fastest rate this year; nevertheless, the high level of new supply may cause a mild correction in the near run.According to UBS Global Real Estate Bubble Index 2024 released on Tuesday, Dubai's score has increased from 0.14 in 2023 to 0.64 this year. Meanwhile, the emirate's ranking in the index has risen from...

Impact of Federal Reserve Rate CutAccording to experts, the US Federal Reserve's decision to cut interest rates by 0.5% will positively impact the UAE property market. Local banks are expected to lower mortgage rates in the coming days and weeks.The Fed's first rate cut since 2020 may result in substantial savings and more affordability for potential UAE homebuyers as mortgage rates decline. Lenders may...

Dubai’s real estate market has stabilized following significant price increases in off-plan properties during 2023, according to a report by Better Homes.The market witnessed a spike in off-plan property prices over the last year, driven by high demand and limited supply in critical areas.Prices in high-demand locations such as Dubai Hills Estate, Business Bay, and Jumeirah Village Circle surged 15-30...

In the first half of 2024, Dubai's residential resale market grew significantly, according to a recent Metropolitan Homes survey.The ‘H1 2024 Residential Resale Market Review 2024’ revealed that transaction volumes increased 17.8% year-over-year to 27,949, while transaction values rose 23.1% to AED76.34 billion.The market soon recovered despite the extraordinary floods that occurred in April, and in...

Project OverviewThe top real estate company in Dubai, Binghatti, unveiled its first project in Al Jaddaf this year: Binghatti Ghost. After a two-year break, Binghatti is returning to the area with this much-anticipated development, spurred by the market's extraordinary demand.There will be 770 residential apartments in the new complex. In addition to these sought-after living spaces, Binghatti Ghost will...

Dubai and Abu Dhabi's real estate markets are among the most improved in the world in terms of transparency, according to a global sector survey.According to JLL's 2024 Global Real Estate Transparency Index (GRETI), the UAE cities achieved spots among the top five global improvers in the transparency score.Dubai took third place for improvements achieved between 2022 and 2024, and Abu Dhabi took fifth...

Global investors are still drawn to Dubai real estate, as evidenced by the 40% increase in sales value in August alone. The percentage of transactions reached 36.9%, or $12.9 billion.A top official stated that astute investors with a long-term perspective now find refuge in Dubai's real estate market. Kashif Ansari —-CEO and cofounder of Juwai IQI, cited the latest report from UBS, which clearly...

A private developer based in the United Arab Emirates, Azizi Developments, has revealed designs for Burj Azizi, a 725-meter skyscraper that is expected to become the second-tallest building in the world.By 2028, the Sheikh Zayed Road project in Dubai will be finished.The more than 131-story building will be up for sale in February 2025. In addition to various amenities like wellness centers, swimming...

The UAE property market will see a touch of upscale London design thanks to Dubai's new real estate development. LEOS Developments has announced the official unveiling of its latest project, Knightsbridge, which has a gross development value of AED1.75bn ($476m) and is located in the heart of Meydan in District 11.Dubai's first climate-adaptive wellness community will officially open with this project,...

Project OverviewDubai-based property developer Binghatti has announced the opening of Binghatti Royale, a new residential complex in Jumeirah Village Circle (JVC) that will cost $600 million (AED 2.2 billion).Increased investor demand for Binghatti developments in the area—some even selling out in less than a day—fueled the debut.Development DetailsThree hundred fifty-four residential units, comprising...

SOL Properties has started constructing Fairmont Residences Solara Tower Dubai, elevating the regional real estate landscape.Fairmont Residences Solara Tower Dubai will offer residents access to integrated services and luxurious amenities, including a private swimming pool, fitness center, and spa, delivering a hotel-like experience in the comfort of their homes and positioning the tower as a significant...

The Dubai law allows one person to have 5.0 square meters of space in villas and apartments in the emirate. Overcrowding and breaking local rules are regarded to occur when more than one occupancy occupies the 5.0 sqm of available area."The minimum space for occupancy, dealt with by Dubai Municipality building code, states that for residential accommodation or shared sleeping spaces purposes, the allocated...