Record development sales and recurring income portfolio delivers 21% increase in revenue to $870 million Driven by record sales and strong contributions from its recurring income portfolio, Aldar Properties reported a 52 percent increase in net profit to AED1.3 billion ($350 million) in the second quarter of 2023. Revenues increased nearly 21 percent on an annual basis to about AED3.2...

Dubai-based businessman Najam-us-Saqib bought a studio apartment in one of the affordable areas on the outskirts of Dubai. He has rented it out and now he is staying in the Al Qusais area in a rented apartment. He has opted for this choice because his children’s schools and his office are nearby. Najam is among thousands of residents who turned tenants into owners, saving not only thousands of...

Abu Dhabi is looking to consolidate key real estate assets under a single entity, establishing a Dh44 billion ($12 billion) property giant, in a move to support the emirate’s economic transformation efforts. Under the proposed deal, Abu Dhabi’s investment and holding company ADQ and a unit of local conglomerate International Holding Company have submitted an offer to combine...

Leasing Activities through the portal & application Launched on the 13th of October 2018, TAMM application is a one-stop platform providing direct access to all Abu Dhabi Government services. Abu Dhabi citizens, residents, businesses and visitors can apply for services online, interact with their customer service and track the status of the application. The app provides direct access to a wide...

Abu Dhabi, UAE – Bayut, the UAE's leading property portal, has rolled out its Abu Dhabi real estate market reports for H1 2023. According to the data observed on Bayut, the sales prices of apartments and villas in the affordable category have become increasingly competitive, while prices for luxury properties have witnessed a decline. Conversely, the rental prices for budget apartments and villas...

Abu Dhabi, UAE: Foreign direct investment (FDI) by individuals into Abu Dhabi’s property sector soared to Dh834.6 million during the first half of 2023, the Department of Municipalities and Transport (DMT) has announced. This remarkable figure represents an astounding increase of 363 percent compared to the same period in 2022, setting a new record. Dr Adeeb Al-Afifi, Executive Director of the...

Investing in property can be a lucrative venture, but timing is crucial. If you're considering investing in the real estate market in Abu Dhabi, it's natural to wonder whether the current conditions are favorable. We will delve into the factors that can influence your decision and help you evaluate whether it is a good time to invest in property in Abu Dhabi. Economic Stability: Abu Dhabi, the capital...

Abu Dhabi: Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has launched Balghaiylam, a new residential development located north-east of Yas Island, which is being developed by Aldar. The Dh8 billion project, to be completed by 2026, will offer 1,743 ready-built homes to citizens who have received housing loans from the Abu Dhabi...

The value of real estate transactions in Abu Dhabi during Q1 2023 has increased by 147% compared to the same period last year, while the number of transactions rose by 67%. The real estate indicators released by the Department of Municipalities and Transport (DMT)showed that the sector has recorded 3,518 property sales worth AED16.2 billion ($4.41 billion), compared to 1,722 transactions worth AED4.4...

The preference was attributed to factors such as government initiatives, dynamic society and ambitious infrastructure projects Abu Dhabi was recognised as an excellent place to live by industry expert, Carlos Wakim, CEO of Bloom Holding. The attractiveness of the capital as a residential hub was attributed to several initiatives including Golden Visa, freelance visas, ambitious infrastructure...