Dubai real estate: UK investors flock to luxury branded residences for retirement, investment

British investors are relocating to Dubai in record numbers for retirement and lucrative property investments The luxury real estate market in Dubai is experiencing a surge, driven in part by British investors who are flocking to the UAE in record numbers, seeking properties for retirement and investment, industry insiders said. The branded residences segment is the biggest beneficiary of this...

Development of a global real estate technology roadmap by Dubai Land Department

In support of Dubai’s Economic Agenda D33 and its ambitious goals to transform Dubai into a major innovation hub, the Dubai Land Department (DLD) has launched the Real Estate Evolution Space Initiative – ‘REES’, which will bring together thought leaders and industry professionals to spark a wave of progress capable of redefining the urban landscape. In addition, the Dubai Land Department and...

Dubai’s private developers prepare for a Dh55,000 cash limit in future property deals

Private developers in Dubai anticipate the impending enforcement of rules governing all-cash property sales, with only up to Dh55,000 permitted as ‘physical’ cash in future transactions. Already, two of Dubai’s leading master-developers have implemented the plan, and the impact on the Dubai property market is significant, given that they account for 30-40 percent of property sales in value terms....

Property websites urged to link systems with authorities to avoid fake listings and fines

Property listing websites in Dubai have been encouraged to integrate their systems with the Dubai Land Department’s (DLD) website to ensure that all listings are genuine and not fraudulent. Haider Khan, CEO of Bayut and Dubizzle Group Mena, stated that integrating the platform with DLD’s system significantly benefits all stakeholders in the UAE real estate market. “Firstly, and perhaps most...

Blue Residency Visa announced in the UAE: Who can apply?

The UAE has announced a long-term residency for environmentalists. The 10-year visa, known as ‘Blue Residency’, will be granted to individuals who have made “exceptional contributions and efforts” to environmental protection. This includes sustainability initiatives both within and outside the UAE. The Blue Residency will be awarded to supporters of environmental action, such as members of...

Union Properties makes more progress on its turnaround plan with its Q1-2024 profit report

Union Properties reported another round of quarterly revenue and profit gains, as well as some favorable breaks on some of the other issues that the Dubai developer had been working to resolve for some time. Contracts with customers generated Dh138.1 million in revenue, up from Dh122.1 million last year. The profit increased to Dh16.4 million from Dh12.2 million. Union Properties has been through a...

Emaar Group’s Property Sales increased 47% over the previous year

Emaar Properties PJSC (DFM: EMAAR) has released its financial results for the first quarter of 2024, which show consistent resilient performance and operational efficiency across its various businesses. Key accomplishment highlights Emaar reported revenues of AED 6.7 billion (US$ 1.8 billion) and a net profit before tax of AED 4.3 billion (US$ 1.2 billion), up 16% from the same period last year. The...

Here’s a sneak peak at Dubai’s new airport, which features a monorail, green havens, and mini forests

Al Maktoum International Airport (DWC) will be a city within a city once it is completed. It will have a transportation system, mini-forests, green zones, an entertainment hub, and other amenities like food, beverage, and retail. Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister of the UAE, and Ruler of Dubai, revealed the first photographs of the new passenger terminal in a tweet...

In Dubai, property prices rose for the 15th consecutive quarter, led by the affordable segment

Dubai’s property prices rose for the 15th consecutive quarter in the January-March 2024 period, owing primarily to affordable and mid-market communities. According to analysts, Discovery Gardens, Sports City, and Dubailand apartments experienced the greatest price increases as demand from residents and foreign investors remained strong. To meet demand, villa owners in the city are renovating older...

Demand for office space in Dubai exceeds supply, leading to pre-leasing

Dubai’s demand for office space is outstripping supply, and the emirate may run out of Grade A office space next year. With an increase of foreign companies establishing regional headquarters in Dubai, many landlords and free zones are upgrading older office space to meet rising demand and capitalize on higher rents. According to Prathyusha Gurrapu, director and head of research and consultancy at...

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