Real Estate News Archives

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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Dubai’s Luxury Residences Double Rents as Market Matures

By Jan Leo,February 1, 2024

In Dubai, branded homes command double rents, driven by luxury amenities and high demand. The influx of high-net-worth individuals is transforming the market, making Dubai a long-term choice. Branded residences see premium rents, with some units doubling non-branded rates. Dubai’s real estate market experiences a surge in branded launches, attracting global elites. Market expert Lewis Allsopp predicts growth until 2025–2027 when off-plan rentals meet demand. Luxury homes, especially in prime locations, show potential for significant price increases.

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Dubai Real Estate Hits AED 3 Billion in Tuesday Transactions

By Jan Leo,January 31, 2024February 1, 2024

In Tuesday, Dubai’s real estate market surged with 530 sales totaling AED 2.35 billion, alongside 135 mortgages at AED 564.27 million and 55 gift deals worth AED 180.68 million. The day’s total transactions exceeded AED 3 billion, including 494 villa and apartment sales (AED 1.15 billion) and 36 land plots (AED 1.2 billion). Mortgages covered 114 properties (AED 284.27 million) and 21 land plots (AED 280 million).

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UAE Eases Golden Visa Requirements for Real Estate Investors

By Jan Leo,January 25, 2024February 1, 2024

Explore the recent changes in the UAE’s Golden Visa program designed to attract investors and citizens. Learn about the elimination of the Dh1 million minimum down payment and the new focus on property value for qualifying investors.

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Dubai Breaks Records with $7.6 Billion in Luxury Home Sales in 2023

By Jan Leo,January 17, 2024

In 2023, Dubai saw a surge in luxury home sales, reaching a record $7.6 billion, a 91% growth over the previous year. Knight Frank’s analysis revealed a 92.4% uptick in sales of homes priced at $10 million or more, totaling 431 transactions. Faisal Durrani, Partner – Head of Research, MENA, highlighted Dubai’s status as the world’s most active $10 million+ homes market.

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Dubai’s 2023 Real Estate Boom and Record-Breaking Transactions

By Jan Leo,January 16, 2024February 1, 2024

Dubai’s luxury real estate market witnessed remarkable expansion in 2023, showcasing unprecedented growth. This year marked the sale of the most expensive penthouse in the UAE to date, accompanied by record-breaking investment volumes.