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UAE’s First Legal Casino Opening on Al Marjan Island in 2027 with 14 Billion Dirhams

The United Arab Emirates has recently relaxed gaming laws, accelerating plans for the country's first casino. Interestingly, this inaugural casino resort will not be in Dubai or Abu Dhabi, but rather in Ras Al Khaimah. The Dhs14 billion Wynn Al Marjan Island is slated to open in 2027 and is expected to surpass the original Wynn in Las Vegas, the world’s premier gaming destination. As a potential...

Surge in UAE Short-Term Rental Demand: Rates Reach Up to Dh100,000 Per Night!

According to experts, demand for short-term rentals in the UAE is growing due to competitive rates and increased options for visitors. Many property owners are switching from long-term to short-term rentals for higher returns, especially in prime areas like Downtown and Burj Khalifa. Experts believe this surge is driven mainly by digital nomads and visitors from European and Asian countries. Data shows...

With the possible reduction in interest rates, loans, mortgages in the United Arab Emirates will become cheaper

Borrowing costs will drop this week in the UAE as the US Federal Reserve and Central Bank of the UAE (CBUAE) are widely expected to cut interest rates, making it more affordable for consumers to obtain personal, auto, and mortgage loans. With the dirham pegged to the dollar, the UAE will most likely match the interest rate cut as that of the US after the September 18 meeting. This will be the first...

Property Market at Dubai Soars With 17.8% Increase in Transactions in H1 2024

The "H1 2024 Residential Resale Market Review" highlighted a strong performance in Dubai’s real estate market, with transaction volumes rising by 17.8% year-on-year to 27,949 and transaction values surging by 23.1% to AED 76.34 billion. Despite the challenges posed by severe flooding in April, the market bounced back quickly, with May 2024 seeing a record-breaking 17,139 residential resale...

Most villa community prices more than double in four years

A recent report reveals that 85% of all established freehold villa communities in Dubai have more than doubled in value over the past four years. Data from the Dubai Land Department also shows that prices have exceeded the previous peaks of the last decade, with villas on Palm Jumeirah nearly doubling in value since 2014. Dubai's real estate market continues to set new records, with price per...

UAE Free Golden Visa : Some Dubai property developers offer to pay for up to 3 family members

Several developers in Dubai are increasingly offering and covering the costs of multiple Golden Visas for investors and their families as a strategy to attract high-net-worth buyers. The UAE's Golden Visa programme grants a 10-year residency to those who invest Dh2 million or more in property or businesses, providing long-term stability and numerous benefits, which has proven highly appealing to foreign...

Dubai and Abu Dhabi Emerge as Global Leaders in Real Estate Transparency Improvement

The UAE cities secured places among the top five improvers in the transparency score globally, according to JLL’s 2024 Global Real Estate Transparency Index (GRETI). Dubai earned the third spot, and Abu Dhabi secured the fifth position for improvements made from 2022-24 and have been recognised among the top global improvers for: Scaling digital capabilities Implementing strong anti-money...

Dubai’s real estate sector recorded $3.9 billion in transactions last week

The Dubai real estate sector recorded over AED14.41 billion ($3.9 billion) in transactions last week, as reported by the Land Department. Sales were the dominant factor, contributing AED9.04 billion ($2.5 billion) of the total, with 3,542 transactions registered between September 2 and 6. Highlighted sales included: An apartment in Bluewaters Bay sold for AED48.365 million ($13.2...

Dubai’s real estate market sees 40.8 percent rise is sales value to $13 billion in August

Dubai's real estate market experienced a stellar performance in August, with property sales surging by 40.8 percent year-on-year, reaching AED47.3 billion ($12.88 billion). Dubai recorded 16,159 real estate transactions last month, reflecting a 36.9 percent increase compared to the previous year. Additionally, the average price per square foot rose by 6.1 percent, reaching AED1,493. Over the past five...

Dubai Land Department Launches Video Call Services to Simplify Investments

Dubai real estate investors can now access services remotely via video calls or WhatsApp, eliminating the need for in-person office visits, thanks to a groundbreaking new initiative. In a strategic effort to enhance partnerships with the private sector, Eng. Marwan Ahmed bin Ghalita, Director General of the Dubai Land Department (DLD), officially launched the '6005AQARI' platform in collaboration with...

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