Royal Majestic Real Estate > Articles by: Jan Leo

Author: Jan Leo

Dubai Rental Prices Set for a 2024 Upward Spiral
CategoriesDubai Real Estate Real Estate News

Anticipated Surge: Dubai Rental Prices Set for a 2024 Upward Spiral

By Jan Leo,

Anticipating a 10% surge in Dubai’s real estate rentals this year, experts attribute this upward trend to investors seeking short-term gains and long-term returns. In the initial half of 2023, rental prices rose by 23%, spiking by 30% in October during the shift from low to high season.

Forecasts for 2024 suggest a 10% increase in short-term rentals and a 15% rise in long-term leases, closely tied to the escalating residential property prices. Property sales transactions surged from 30,000 in 2022 to nearly 50,000 in 2023, indicating market growth.

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Dubai's Dominance in GCC Real Estate Set to Extend Through 2024
CategoriesReal Estate News

Dubai’s Dominance in GCC Real Estate Set to Extend Through 2024

By Jan Leo,

Dubai’s GCC Real Estate Leadership

Dubai emerged as a frontrunner in the GCC real estate landscape in 2023. Demonstrating adaptability amidst imminent challenges expected in 2024, developers in Dubai and Riyadh excelled in the residential sector. They leveraged brand strength and flexible payment plans for a competitive edge.

Intensified Competition: Grade-A Office Spaces

Moreover, competition for Grade-A office spaces in Dubai and Riyadh noticeably increased. This trend was highlighted in Kamco’s GCC Real Estate Update, signaling significant shifts in the cities’ real estate dynamics.

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Ellington-Properties-and-DMCC
CategoriesDubai Real Estate Real Estate News

Ellington Properties Teams Up with DMCC to Introduce Mercer House in Uptown

By Jan Leo,

Ellington Properties, a prominent boutique developer in Dubai known for its design excellence, has joined forces with Dubai Multi Commodities Centre (DMCC) to introduce Mercer House, an upscale residential project in Uptown Dubai. Following the success of their previous collaboration, UH by Ellington, Mercer House is set to be an iconic addition to Dubai’s skyline, featuring two impressive residential towers atop a podium offering various amenities focused on wellness, retail, sports, and hospitality.

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Mercedes-Benz-Places-in-Dubai
CategoriesReal Estate News

Mercedes-Benz Luxury Residences Places in Dubai

By Jan Leo,

Revolutionizing Dubai’s Skyline: Mercedes-Benz Places

Mercedes-Benz Places in Dubai, soaring at 341 meters with 65 stories, redefines Downtown’s skyline, offering unparalleled views of the Burj Khalifa near iconic landmarks like the Dubai Mall.

This collaboration seamlessly merges real estate and automotive excellence, driven by a shared passion for iconic design and innovation. CEO Muhammad Binghatti eagerly anticipates partnering with Mercedes-Benz for more than a luxury residence—a community-focused space integrating mobility, pioneering a novel standard for sophisticated living.

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CategoriesReal Estate News

Dubai’s Sheikh Zayed Road to Host 50-Storey Residential Tower

By Jan Leo,

Dubai’s Sheikh Zayed Road will soon host a 50-storey residential tower by Aqua Properties, meeting high off-plan apartment demand, particularly in Dubai.

Founder Ali Tumbi highlighted Aqua Properties’ innovation, overseeing the towering 50-story building on Sheikh Zayed Road and another on a 300,000-square-foot plot in Arjan.

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CategoriesDubai Lifestyle

Dubai’s Extravagant Vegas-Inspired Island

By Jan Leo,

Dubai is about to witness the emergence of a grand spectacle: The Island. A sprawling expanse off the coast of Jumeirah, this ambitious project draws inspiration from the vibrant energy of Las Vegas, featuring renowned hotels such as MGM, Bellagio, and Aria. It’s all set to redefine luxury and entertainment in the region.

Quiet Beginnings and Recent Developments

First revealed in 2017, The Island’s progress remained relatively muted, nestled near the iconic Burj Al Arab. However, recent developments have reignited excitement. Wasl, the visionary behind the project, finalized a monumental construction deal. The China State Construction Engineering Corporation has been entrusted with bringing The Island to life, sealing a colossal deal valued at USD 1.2 billion (Dhs4.4 billion), marking Dubai’s most significant construction contract since 2017.

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CategoriesDubai Real Estate

Dubai’s Luxury Real Estate Market Shines in October

By Jan Leo,

In recent years, Dubai’s luxury real estate sector has undergone a transformative journey, solidifying its status as the top choice for affluent individuals globally. The city’s adept handling of the COVID-19 pandemic, forward-thinking projects, and an escalating demand for lavish properties have positioned Dubai as a haven of opportunity and stability, attracting families and businesses alike.

Record Surge in Luxury Transactions

October witnessed an impressive surge in secondary luxury transactions within Dubai’s real estate market, setting a record high for the year, as per a Prime by Betterhomes report. While off-plan luxury sales remained constant, secondary sales nearly tripled. From a mere 67 in January, secondary transactions soared to 277 in October, indicating a significant market shift. In terms of value, the total for Oqood transactions stood at Dh1.028 billion, whereas secondary transactions amounted to Dh6757 billion, according to Betterhomes’ data.

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CategoriesDubai Lifestyle

Revolutionizing Dubai’s Real Estate: The Impact of the Blue Line Metro Expansion

By Jan Leo,

Expanding the Dubai Metro’s Blue Line isn’t just about enhancing transportation; it’s a catalyst for significant positive impacts on the real estate market in the region. Here’s how:

Increased Accessibility

The extension brings several new stations, linking previously underserved or less accessible areas. As these areas gain connectivity to the metro network, they become more attractive to potential homebuyers and investors. Properties near these new stations are likely to experience increased demand, potentially driving up property values.

Boost in Property Values

Proximity to efficient public transportation often translates to increased property values. Homes and commercial spaces near metro stations tend to command higher prices due to the convenience they offer. As the Blue Line expansion opens up new stops, properties in these vicinities could experience a surge in value.

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CategoriesDubai Lifestyle

Accelerating Dubai’s Future: Sheikh Mohammed Approves Dubai Metro’s Underground Blue Line

By Jan Leo,

Sheikh Mohammed bin Rashid Al Maktoum approved Dubai’s underground Blue Line, signifying a significant commitment to sustainable urban mobility.

Unveiling the Future of Urban Mobility with the Underground Blue Line Extension

The Blue Line, set to run underground, represents a groundbreaking advancement in Dubai’s Metro system, aligning with the city’s innovation goals.

Sheikh Mohammed’s leadership emphasizes Dubai’s dedication to progress, enhancing transportation and forward-thinking urban planning.

The extension aims to connect city areas seamlessly, improving accessibility and reflecting Dubai’s eco-friendly initiatives.

This ambitious project underscores Dubai’s evolution and solidifies the Dubai Metro as a pioneering transit system.

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CategoriesReal Estate News

Dubai Real Estate: Current Trends and Developments

By Jan Leo,

Dubai’s real estate market remains a dynamic landscape, driven by innovation, sustainability, and evolving consumer preferences. Recent trends and developments showcase the city’s resilience and commitment to redefining luxury living.

Focus on Sustainable Developments

Dubai continues to prioritize sustainability in real estate. The city has witnessed an increase in eco-conscious developments, emphasizing green spaces, energy-efficient designs, and environmentally friendly practices. Projects like The Sustainable City and Al Barari highlight the city’s commitment to eco-friendly living while offering luxurious amenities.

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