February 2024

Dubai Real Estate Soars in 2023: Savills Report

By Jan Leo,February 15, 2024February 28, 2024

Dubai’s real estate market peaked in 2023. Transaction activity reached 118,200 units, per Savills. This surge, surpassing 100,000 transactions, credits Dubai’s robust economy.

The report highlights Dubai’s consistent post-COVID-19 demand growth, mainly driven by off-plan properties. While end-user activity decreased, observers noted a shift towards investment properties.

New RERA Rule Simplifies Dubai Real Estate Searches

By Jan Leo,February 14, 2024February 28, 2024

Dubai’s Real Estate Regulatory Authority (RERA) has cracked down on misleading online property ads, reshaping the city’s real estate landscape.

Anticipated to reduce up to 40% of real estate sales listings on digital platforms, RERA’s policy targets agents flooding portals with individual unit promotions, often misusing developers’ No Objection Certificates.

Dubai Lifestyle Real Estate News

DXB Airport Welcomes Record 87 Million Guests in 2023

By Jan Leo,February 13, 2024February 28, 2024

Amidst unprecedented success, Dubai International (DXB) ended 2023 with 87 million annual guests—exceeding projections. DXB’s recovery journey has been successful, establishing its status as the top airport for international traffic.

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, said, “DXB’s 2023 performance is a testament to Sheikh Mohammed bin Rashid Al Maktoum’s leadership and determination.”

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Dubai Customs Smashes Records with 17.15M Visitors in 2023

By Jan Leo,February 12, 2024

In 2023, Dubai Customs hosted 17.15 million international visitors. Handling an average of 128,400 bags daily from 206,396 flights, the department prioritizes traveler satisfaction.

Backed by 77 baggage inspection devices and over 845 officers, Dubai Customs played a pivotal role in achieving the record-breaking visitor numbers. The focus remains on delivering exceptional experiences and positioning Dubai as a premier destination for business and leisure.

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Marjan Unveils RAK Central: Ras Al Khaimah’s Premier Mixed-Use District

By Jan Leo,February 9, 2024February 9, 2024

Marjan, the leading freehold property developer in Ras Al Khaimah, announces RAK Central, a vibrant mixed-use district. This development features Grade A office spaces, tailored commercial properties, and expansive residential opportunities.

Dubai Real Estate Real Estate News

Dubai’s Palm Jebel Ali, Creek Tower, and NEOM Projects Set to Shine in 2024

By Jan Leo,February 8, 2024

The Lumina Cross-Border Insights 2024 report forecasts NEOM, the centerpiece of Saudi Arabia’s Vision 2030, to stimulate foreign direct investment (FDI) and UK-Middle East investments. NEOM’s $500 billion investment, including its inaugural destination Sindalah opening soon, positions Saudi Arabia as a leader in diverse megaprojects like Diriyah, Jeddah Central, and Roshn, driving its economic diversification strategy forward.

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Dubai Real Estate Booms: 1.6M Transactions Valued at AED634B in 2023

By Jan Leo,February 7, 2024February 8, 2024

In 2023, the Dubai Land Department (DLD) marked its strongest performance yet, recording 1.6 million transactions totaling AED634 billion. This represents a significant 16.9% growth compared to 2022.

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Dubai Real Estate: Record Sales Signal Strong Start

By Jan Leo,February 6, 2024February 8, 2024

Dubai’s real estate market kicked off 2024 with Dh35.4 billion in January sales, hinting at a promising year ahead. The demand for off-plan properties continues its upward trajectory.

January 2024 witnessed a remarkable 27% increase from January 2023, setting new benchmarks and reflecting sustained growth.

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Dubai Welcomed 17 Million International Visitors in 2023: Sheikh Hamdan

By Jan Leo,February 5, 2024February 8, 2024

In 2023, Dubai saw an unprecedented influx of 17.15 million international visitors, marking a significant milestone for the city’s tourism sector. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, shared this remarkable achievement, highlighting Dubai’s commitment to becoming a top global destination for both business and tourism.

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Dubai Real Estate Market: Experts Predict 5% Growth in 2024

By Jan Leo,February 2, 2024February 8, 2024

Dubai’s real estate market anticipates 5% growth in 2024, backed by a robust economy and soaring investor interest.

In 2023, Dubai saw a $100 billion investment influx, showcasing its allure as an investment hotspot. CEO Bas Kooijman foresees further growth, with a projected 5% uptick in 2024, paralleling UAE’s anticipated 4.5% economic expansion.

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