Abu Dhabi is booming with record GDP growth as non-oil contributes 50 per cent The Abu Dhabi economy is the fastest growing in the Middle East and North Africa, with a remarkable 9.3 per cent growth last year. Non-oil sectors contributed 50 per cent of GDP last year, with real estate, healthcare and real estate all contributing to significant growth. The Statistics Centre – Abu...
For the third consecutive time, Abu Dhabi has been ranked as the smartest city in the Mena region, according to the IMD Smart City Index Report 2023. Published by the Switzerland-based International Institute for Management Development (IMD) in collaboration with the Singapore University of Technology and Design (SUTD), the report ranks Abu Dhabi 13th globally out of 141 cities, while Dubai takes the...
Currently in Abu Dhabi and in large parts of Dubai the Owners Associations are not run by the owners. They are run by the Developers. This has created such amazing stories as the developer selling property on the basis of a private beach, then making it public and charging, of them stopping Airbnb type arrangements except through the developer, of forcing owners to use the developer’s real estate...
Earth Day is on its way and “sustainability” is an excellent buzzword in the world, but what does it mean in Real Estate, and how can you fill up your car for free? Aldar even recently launched “Sustainable City” in Yas Island to much fanfare, and it sold exceptionally well off the back of its many sustainable features. And sustainability should be close to the front of our minds here in Abu...
The total support provided by the scheme for the first group of 65 Emirati families amounts to $8.71mln UAE - Authorities in Dubai have launched a social initiative to support citizens with limited income who have received housing grants, but require additional funds for the construction or completion and furnishing of their homes. The ‘Bayti’ initiative aims to support and assist beneficiaries...
Offer is available to both residents and non-residents The Abu Dhabi Islamic Bank (ADIB) has announced the launch of its first-ever plot financing offering. The scheme enables customers to purchase a piece of land for purpose of investment or to fulfill their homeownership goals. The offer, available to both residents and non-residents, allows buyers to purchase property or make plot handover...
630 of the development's 1,050 units will be available for purchase during the first phase of the launch UAE-based Aldar Properties has announced the launch of Reeman Living, a freehold residential development in the Al Shamkha neighborhood of Abu Dhabi, that offers bespoke design elements and colour palettes, efficient storage spaces, and an adaptable environment. Open to buyers of all...
Where in the world is the best place to live as expats? According to a recent HSBC survey, the answer is the United Arab Emirates, which offers the best lifestyle to expatriates. The results were chosen based on factors, such as quality of life, personal finances and ease of settling in. The survey shed light on why people decide to move abroad and what problems they face when they...
New expatriates in the UAE can avail of quick and easy loans and other financial services, thanks to an initiative being billed as a 'credit passport'. The initiative will enable newcomers to leverage their home country's credit history when applying for financial services upon arrival to the UAE. The move is also expected to give a fillip to the retail banking sector. Al Etihad Credit Bureau (AECB)...
A 49.9% increase! That is what off-plan sales grew by in 2022, according to CBRE – and 2023 looks to be even bigger. And it wasn’t the whole market that went up. Secondary transactions were up 25% in 2022, but prices increased only 4%. Off-plan was a rocket ship. So, what is happening, and who is doing it? Before 2022 only Aldar was launching off-plan projects with any regularity, selling out its...
