Steady Growth Despite Global Softening

Dubai’s real estate sector is poised to deliver around 34,000 units in 2024, solidifying its position as a key driver of the UAE’s economic diversification efforts.

Despite global uncertainties, experts anticipate sustained growth in both Dubai and Abu Dhabi’s real estate markets, with approximately 8,000 units slated for delivery in the capital.

Read more “Dubai Real Estate Outlook 2024: 34,000 Units Expected”

Hamptons International Attributes Decline to Limited Supply

Strategic Plans and Technological Advancements Drive Progress

Vilal Housing is dedicated to enhancing residential services in the UAE, with a recent announcement of plans to build 50 villas slated for completion by 2024.

In a pivotal meeting held at the Emirates Towers in Dubai, the board of directors, chaired by Abdul Rahim Sultan, underscored their commitment to top-notch housing solutions. Members Aarefa Al Falahi, Alia Busamra, Mohammed Al Falahi, and Alia Al Shamlan convened to review past achievements, strategize for 2024, and address sector challenges and opportunities.

Read more “Vilal Housing Boosts Residential Services in UAE”

Rising Demand for UAE Properties as Tenants Transition to Ownership

In Q1 2024, the United Arab Emirates witnessed a surge in demand for ready properties as more tenants opted for ownership over renting.

Contrary to Q1 2023’s surge in off-plan transactions, the first quarter of 2024 showed robust demand for existing projects in Dubai and Abu Dhabi, as per Property Finder data.

Read more “Rising Demand for UAE Properties as Tenants Transition to Ownership”

During Q1 2024, the United Arab Emirates saw a notable rise in the demand for ready properties, fueled by tenants opting for ownership over renting.

Contrary to Q1 2023, which witnessed a surge in off-plan transactions, the property market in Dubai and Abu Dhabi experienced robust demand for existing projects in Q1 2024, as per data from Property Finder.

Read more “UAE Witnesses Surge in Property Ownership as Tenants Transition to Buyers”

Dubai landlords now need a court order for rent re-evaluation. Instead of relying solely on the Rental Index, they can still approach the Real Estate Regulatory Authority (RERA) for higher rents.

Read more “New Procedure for Dubai Landlords: Rent Re-evaluation Requires Legal Order”

Sobha Group, a real estate developer, announced a significant investment of Dh450 million for a new facility in Dubai Industrial City (DIC). This second furniture factory, spanning 84,000 square meters, with 50,000 square meters of built-up space, aims to cater to both local and export markets, manufacturing various furniture items including couches, seats, armchairs, beds, and cabinets.

The establishment aligns with DIC’s initiatives like “Make it in the Emirates,” boosting the regional industrial sector. PNC Menon, founder and chairman of Sobha Group, expressed pride in contributing to Dubai’s and the UAE’s manufacturing landscape. CEO of Sobha Furniture, Carlo Magistretti, emphasized their commitment to surpassing global standards in furniture manufacturing, highlighting the investment’s focus on innovation and quality.

Located in Dubai Industrial City, the facility promises synergies with Sobha Furniture’s existing facility in KEZAD, Abu Dhabi, further bolstering its manufacturing capabilities.