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...
Just a few future holidays we’re mega excited for… Abu Dhabi has always been a place of truly capital leisure mega projects. Its fractal coastline features a suite collection of beachfront beauties, there are palace-inspired desert oases, urban design masterpieces, wellness wonderlands and family-friendly hubs for forever memories. But there’s always ‘room’ for more. These are the Abu...
The UAE is a young country, and the story of the evolution of real estate in its largest Emirate is short but eventful. The book From Rags to Riches by Mohammed Al Fahim gives us the first fascinating glimpse into how the ownership of real estate really began. It was the wish of Sheikh Zayed bin Sultan that every citizen have three pieces of land. One for a house to live in, one for a shop to make money...
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...
The residences feature 130 units comprising studios, one-bedroom, two-bedroom, and three-bedroom apartments February 13, 2023 MIDDLE EASTUAEREAL ESTATE InterContinental Abu Dhabi has launched its brand-new residences scheduled to open in the first quarter of the year in the neighbourhood of Al Bateen district, a stone’s throw from some of the central business and leisure facilities. The...
The UAE real estate sector continues to grow with off-plan property sales hitting AED12.1bn Dubai’s real estate sector continues to grow with off-plan property sales hitting AED12.1bn ($3.3bn) in the first month of the year, according to ZāZEN Properties. According to a statement from the sustainable property developer, more than 9,800 sales transactions were registered in January. This...
Off-plan residential transactions in Dubai for the first six months of 2018 were down 20 per cent from last year during the same period, according to GCP-Reidin. On the ready property side, sales in the first six months of the year held up well, with an increase of around about 6 per cent year-on-year. Does this mark the end of off-plan sales and a switch back to ready units? Time will tell, but what is...
Lots of residents own their cars in the UAE but far fewer own their houses. Undoubtedly, houses are more expensive than cars so I will not address my thoughts to the people who simply cannot afford a down payment on their own home, but more to those who have the deposit, own a car but do not own their house. On the face of it cars and houses occupy very similar places in our lives. They are both...
Since 2015 the Abu Dhabi Real Estate Market has had a tough time. The fall in the price of oil meant that, unlike the rest of the world who are now in their ninth year of recovery from the 2008 crash, we had a serious “double-dip”. The resulting government spending cutbacks, benefits reductions and job losses in 2016 lead to vacancies across the board and sales and rental prices dropped. 2017 was...
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