UAE property market braces for record-breaking year as investor interest for mid-market and top-end real estate surges The growth of Abu Dhabi and Dubai’s residential property markets have surpassed expectations during the first half of the year, a spokesperson from real estate consultancy CBRE told Arabian Business. “We expected demand to actually slightly adjust compared to what was a very...
As an industry insider, I believe young people are actively shaping and influencing every aspect of leadership as well as business transformation across industries, and property is no exception. Millennials and Gen Z are out there with more access to information than their parents ever had. Thanks to digital technologies, they have greater control over choices, which makes them...
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...
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...
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...
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...
