The Real Estate Regulatory Authority of Dubai, or RERA, has taken strong action against deceptive online real estate advertisements, which is a big change for the real estate market in the city. Up to 40% less real estate sales advertisements are anticipated on the various real estate portals as a result of the new RERA policy. This action aims to stop agents from mass-promoting individual units by...
According to a recent report, Dubai and Sydney are predicted to have the greatest increases in prime residential property values in 2024, maintaining their status as the best luxury housing markets. The annual Prime Global Cities Index, published by global real estate company Savills, tracks changes in the capital values of upscale residences in thirty major global cities. Dubai topped the list in 2023...
Dubai Customs handled 46,870,957 bags from 206,396 flights in 2023, or 128,400 bags every day on average. Ensuring traveler satisfaction and improving their experience are the main priorities. With the assistance of 77 baggage inspection devices, the Passenger Operations Department employs over 845 inspection officers. Additionally, Dubai Customs was a major factor in the 17.15 million foreign visitors...
The largest publicly traded developer in Dubai, Emaar Properties, announced a 70% year-over-year increase in net profit for the fiscal year 2023. The real estate giant saw growth of 7% and 70%, respectively, in 2023 from the same period the previous year, with revenues of Dh26.7 billion ($7.3 billion) and net profit of Dh11.6 billion ($3.2 billion). “This performance was supported by growth in...
The number of deals recorded in 2023 climbed to 166,400, worth $173 billion Dubai registered a record 1.6 million real estate transactions across market segments, an almost 17 cent jump on an annual basis, as the emirate’s property market continues to strengthen amid robust economic momentum, according to the latest data from the Dubai Land Department. The overall number included real...
Dubai has established itself as a top destination for investors looking for high returns and diversification in its real estate market, which is still thriving. Recent data indicates that investment in Dubai’s real estate market reached a startling $100 billion in 2023, with a projected growth rate of 5% in 2024, according to Bas Kooijman, CEO and Asset Manager of DHF Capital S.A. The economy of the...
A total of 4,123 real estate transactions worth over AED14.2 billion were conducted during the week ending 26th January, 2024, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 312 plots were sold for AED2.95 billion, while 2,696 apartments and villas were purchased for AED5.84 billion. The top three transactions were a land in Al Barshaa South Second sold...
Tourists with special needs or people of determination (PoD) are eligible for free public parking throughout Dubai for a period of up to three months. Additionally, they have the opportunity to obtain special permits that grant them a 50% discount on taxi fares. During the 4th Accessible Travel and Tourism International Conference, representatives from the Roads and Transport Authority (RTA) and Dubai...
Mercedes-Benz and Binghatti Properties have announced the launch of a new luxury branded residence project at the Meydan Hotel in Dubai. The Mercedes-Benz Places | Binghatti project will see the construction of a 65-story residential skyscraper in Dubai, with work scheduled to begin later this year. Rising to a height of 341 meters, this iconic tower will provide residents with a holistic,...
