Over the past three years, through a period of global uncertainty, the UAE’s real estate market has remained buoyant. Low interest rates, an ample supply of homes and policies that encouraged long-term residency in the UAE meant more people were considering buying a home in the country. While Dubai continues to lead the domestic real estate market, Abu Dhabi,...
Rent prices for budget apartments and villas in Abu Dhabi rose since January 2023, new Bayut report finds Abu Dhabi’s real estate market is at “one of its best stages ever,” Bayut’s CEO said, attributing the UAE capital’s market boom to an increase in investment activity by high net-worth individuals (HNWIs). “The much-discussed millionaire migration is a very real factor, with HNWIs...
Average prices remain 25% cheaper than the 2014 peak and values have remained relatively unchanged for three-and-a-half years now, Knight Frank said Residential values across Abu Dhabi's freehold areas experienced 1.6% growth in Q2, and rents in general continue to reduce, according to global real estate consultancy Knight Frank. The total value of transactions during Q2 across Abu Dhabi rose to AED...
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...
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...
Aldar, IHC and Adnec team up to create property and facilities management giant Aldar, IHC and Adnec are set to team up to form a new property and facilities management giant with a portfolio of 135,000 properties in the region. Eltizam Asset Management Group, which is jointly owned by IHC and ADNEC Group, will merge with Aldar Estates. Aldar will hold a majority stake and retain control of...
RAK Properties plans to launch four new residential projects and a hotel project in Ras Al Khaimah this year and aims to surpass last year’s profitability on the back of higher sales, its chief executive has said. The value of the projects will be “in the billions of dirhams”, Sameh Al Muhtadi told The National in an interview. The new projects consisting of branded...
The UAE real estate market, in particular in Abu Dhabi, continues to grow. The emirate demonstrates a high rate of development, which directly affects the economy of the capital. A wide range of properties with different pricing categories are offered in Abu Dhabi by some of the most sought-after developers, in the most attractive locations. The government is determined to attract highly skilled and...
Abu Dhabi has the fastest-growing economy in the Middle East and GDP growth is at a nine-year high Abu Dhabi’s booming economy hit a nine-year high in the first three months of this year, according to official Statistics Centre statistics. This growth was driven by the robust performance of non-oil economic activities in the emirate. Statistics Centre – Abu Dhabi (SCAD) released...
Leading real estate development company, Bloom Holding, has signed an agreement with Rotana Hotel Management Corporation (Rotana), to manage Bloom Arjaan by Rotana. The property is located in Bloom’s prestigious Park View development on Abu Dhabi’s Saadiyat Island. Commanding a prominent location in the heart of the capital’s cultural district, and across from the world-renowned New York University...
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