Local expats accounted for 40% of all property purchases in Dubai last year, and this figure is projected to reach 50% by 2025, industry experts said, Local expats are poised to lead the next property market boom in Dubai and the UAE, driven by the rising rent costs and the increasing allure of the county’s […]
Dubai was recently recognised as the top regional destination and the fifth best city to live in by the World’s Best Cities report for 2023 Dubai’s property sector is experiencing a significant surge, according to Unique Properties, a real estate agency in the emirate. Recent data reveals substantial growth in both the residential and commercial […]
Dubai Land Department (DLD) has introduced the REIT privileges registry, inviting local and international real estate investment trusts (REITs) to register. This initiative aims to enhance Dubai’s global position as a real estate investment hub and provide incentive benefits to encourage REITs to consider projects across the city, thereby increasing market investment and long-term capital […]
The Department of Municipalities and Transport (DMT) has introduced a Unified Contract Template for the sale of units and plots on the master plan in Abu Dhabi’s development areas. The Unified Contract Template is a real estate sales agreement between the developer and the investor that regulates the buying and selling process when the property […]
New connections drive district cooling firm’s numbers; Saudi stake sale helped too Dubai: New homes and offices as well as an expanding resident base are clearly showing up in the district cooling company Tabreed’s numbers, with profits up from Dh88 million to a quite weighty Dh236.4 million for the first three months of 2023. Helping […]
Builder of industrial parks and resort in Ras Al Khaimah scores high on profit growth too Dubai: The operator of industrial parks – and now, a builder of a resort – Dubai Investments has put in some serious bulk into its first quarter net profit, hitting Dh314.5 million from Dh202.55 million in Q1-22. Total income […]
Previous record for the costliest penthouse was Dh410 million, which was sold in Bvlgari Lighthouse, Jumeirah Bay Island Demand for Dubai’s ultra-luxury properties continues to grow unabated and there are no signs of slowing it down as record-breaking deals in the prime segment continue one after the other. On Tuesday, luxury real estate company Luxhabitat […]
