June 2024

According to the report, the UAE real estate market will reach a high of AED2.6 trillion by 2024

The UAE real estate market is expected to be worth AED2.6 trillion by the end of next year, according to recent Statista data. The extended growth is attributed to the interest of high-net-worth individuals (HNWIs), specifically their desire to invest in luxury properties in the city. In the first quarter of 2024, Dubai sold 105 luxury homes, bringing the city closer to matching last year’s record...

Majid Al Futtaim launches forest living community concept in Dubai

Majid Al Futtaim has officially introduced Ghaf Woods, a forest-living community concept in Dubai. The development was introduced earlier this year at MIPIM 2024, an international real estate event in Cannes, France. Ahmed El Shamy, CEO of Majid Al Futtaim Properties, said: “The launch of Ghaf Woods represents an important moment for Majid Al Futtaim. As we enter the fourth decade of creating...

Jumeira Bay Island in Dubai breaks another record by selling a villa for Dh175 million

Sales of super-luxury homes in Dubai have increased, with a villa on the Jumeirah Bay island selling for Dh175 million. The 17,500-square-foot, five-bedroom property known as ‘Sea Mirror’ will be ready for occupancy later this year. The buyer is from abroad, following a trend of high-net-worth investors focusing on Jumeira Bay for beachfront properties. According to a recent Knight Frank report,...

Dubai’s branded residences top choice for global high-net-worth individuals

The data revealing that 69% of HNWIs around the world are now interested in owning a branded property in the emirate, up from 59% in 2023 Dubai’s branded residences emerged as a top choice for high-net-worth individuals (HNWIs) around the world, according to Knight Frank’s 2024 Destination Dubai report. The data reveals that 69 percent of high-net-worth individuals (HNWI) around the world are...

Dubai real estate: Driven Properties achieves record $47.6m villa sale on Jumeirah Bay Island

The villa, part of the Sea Mirror project by Lamar Development Driven Properties has achieved a record-breaking transaction, selling the most expensive villa ever on Jumeirah Bay Island. The villa, part of the Sea Mirror project by Lamar Development, was sold by agents Lina Allaoa and Kianoush Darban for AED175 million. The villa occupies a 15,000 sq. ft. plot with a built-up area of 17,500 sq....

Aman Group announces Janu Dubai luxury hotel and branded residences in DIFC

Boutique hotel brand to open properties in Dubai’s DIFC and Jumeirah Beach districts Aman Group has announced Janu Dubai, a luxury hotel set to open in 2027. The hospitality group recently unveiled plans for Aman Dubai which will be set in a prime location directly on Jumeirah Beach. This announcement follows the successful launch in March 2024 of Janu’s inaugural property, Janu...

RAK real estate: Dar Global launches The Astera, Interiors by Aston Martin residences

Positioned near the highly anticipated Wynn Resort, The Astera, Interiors by Aston Martin will bring the carmaker’s signature design and high-performance precision craftsmanship to the interiors of the property. London-listed luxury real estate developer, Dar Global announced the launch of a new branded residential project in Ras Al Khaimah – The Astera, Interiors by Aston Martin. The AED900...

UAE, Saudi investors keen on branded residences: Report

UAE alone has over 50 branded residences across the emirates with a staggering 112 percent increase observed in the last five years alone In a recent trend that underscores the growing appeal of branded residences, the UAE and Saudi Arabia are emerging as major players in this niche market. Over the past decade, the UAE has experienced a staggering 410 percent increase in branded residences, while...

These Dubai areas offer the best rental returns

According to Bayut’s most recent analysis, apartments in Dubai Investments Park, Discovery Gardens, and Liwan provide the best rental returns of up to 11% for affordable property buyers. Dubai Sports City, Dubai Silicon Oasis, and Motor City have emerged as highly appealing options, offering up to 10% return on investment (RoI) based on projected apartment rental yields. Bayut’s first-quarter...

Dubai real estate: Harbour Residences offer rare beachfront property investment opportunity

Shamal Holding introduces Dubai Harbour Residences real estate investment opportunity Dubai Harbour Residences offer a rare beachfront real estate investment opportunity in the city. Shamal Holding has announced its first residential project, Dubai Harbour Residences, featuring a range of apartments and penthouses. Dubai Harbour Residences is designed for superior liveability and will provide a...

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