Dubai records $463mln worth of realty transactions Monday
Dubai real estate market recorded 552 sales transactions worth AED1.42 billion and 78 mortgage deals of AED 210.62 million, in addition to 20 gift deals amounting to AED 120.57 million Monday, data released by Dubai’s Land Department (DLD) showed. The sales included 427 villas and apartments worth AED 878.57 million, and 125 land plots […]
CBRE named leasing partner for Jubail Island retail projects
Global real estate advisor CBRE has been exclusively appointed by Jubail Island Investment Company (JIIC) to support the leasing strategy and day-to-day leasing of the retail component within the Phase 1 of Abu Dhabi’s new megaproject – Jubail Island. Developed by JIIC, the Jubail Island development will be an idyllic collection of villages located between […]
Millennials home in on Dubai
A few years ago, Jatin and Sherry Gupta, a young millennial couple, he a banker in his early 30s, she a PR consultant (and founder of Excel Comms) in her late 20s, moved to Dubai from Doha. It was a transfer they had actively sought because they both felt Dubai would be a “good […]
Dubai’s branded residences now rival those in Miami, New York: Knight Frank
A bevy of new luxury properties being brought to the market has made Dubai a global leader in the branded residences market that now rivals favourites of the wealthy like Miami and New York, according to a new Knight Frank report. In recent times, the emirate has seen several launches of residential development projects from […]
Dubai: New project launches surpass pre-pandemic level in first quarter of 2022
The Dubai real estate market witnessed an uptick in new project launches during the first quarter of 2022 as the emirate emerged as a favourite destination for high net worth individuals, including millionaires and entrepreneurs, following a successful handling of the Covid-19 pandemic, pro-business environment and recent visa reforms, according to a latest report. The […]
Demand for office space in Dubai surges as foreign firms expand, relocate staff
Demand for office space in Dubai has surged to a five-year high amid a huge influx of foreign businesses looking to relocate or expand in the UAE, according to the latest data. City-wide office occupancy levels stood at 81 percent during the first quarter of 2022, the highest in the last five years, while rents […]
Emaar Development’s profits up 34% in Q1-22
Emaar Development has recorded net profits attributable to the owners worth AED 1.05 billion during the first quarter (Q1) of 2022, an annual leap of 34% from AED 780.89 million. During the January-March 2022 period, revenues dropped by 7% to AED 3.56 billion from AED 3.84 billion during the same period a year earlier, […]
Emaar Properties’ profits surge 241% in Q1-22
The unaudited interim consolidated financials of Emaar Properties reported a 241% surge in net profits attributable to the owners to AED 2.23 billion in the first quarter (Q1) of 2022, compared to AED 656.86 million in Q1-21. The company generated revenues of AED 6.63 billion in the first three months (3M) of 2022, […]
Brokerage firm to sell Dubai’s first ‘digital mansions’
A Dubai-based brokerage firm is making its foray into the non-fungible token (NFT) space with a new project that is expected to entice investors to put their money in luxury properties created in the metaverse. Union Square House (USH) said it will launch the first “virtual mansions” in the Middle East and North Africa (MENA) […]
Emaar Development to deliver 8,500 residential units in 2022
Emaar Development, the build-to-sell (BTS) assets unit of Dubai master-developer Emaar, has announced that over 24,500 residential units are currently under construction across its various masterplans and is set to deliver around 8,500 units later this year. Announcing this at its Annual General Meeting (AGM), Emaar Development said it has already delivered more than 4,700 […]