Business

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...

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...

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...

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...

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...

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,...