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 UAE economy’s strength and recovery from the aftermath of the Covid-19 pandemic are evident in the positive projections made by international institutions and banks including the International Monetary Fund (IMF) and World Bank. “The UAE is poised for positive economic growth as it is projected to achieve a 3.6 per cent increase in its gross domestic product this year, driven by...
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...
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...
UAE has once made it again and topped the list for being the country young Arabs prefer to live in the most. For the 12th consecutive year, UAE has been named as the most desirable country to live in according to the Arab Youth Survey. Data and results are based on face-to-face interviews which were conducted with 3,600 young people aged between 18 and 24 across different countries. The...
Ethmar International Holding snaps up Al Raha Beach development in Abu Dhabi A major Abu Dhabi real estate development has been snapped up by a property firm looking to maximise investment in the city’s real estate sector. Ethmar International Holding has announced the acquisition of Lamar Residences, one of the luxury mega projects on Al Raha Beach in the Seef district in Abu Dhabi, with a...
The UAE is expected to attract 4,500 new millionaires this year, according to a report by Henley & Partners, which tracks private wealth and investment migration trends worldwide. The Emirates was ranked second behind Australia, which is expected to attract the highest net inflow of high-net-worth individuals globally at 5,200, Henley & Partners said in the report,...
ABU DHABI & Ras Al Khaimah, UAE: According to leading global property consultancy, Knight Frank, Abu Dhabi has transformed itself into a global tourist and investment hotspot, repositioning itself over the last 15-20 years as a complimentary cultural and entertainment hub to Dubai. In Knight Frank’s Destination Dubai flagship report, the emirate emerged as the second most popular real estate...
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