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Dubai-based developer Al-Futtaim Group Real Estate has announced the launch of a new project of Al-Badia residential complex in Dubai Festival City of the Emirate. Al Badia Terraces project will include residential buildings of medium height. In total, the project will feature more than 350 residences, including: 132 one-bedroom apartments; 193 two-bedroom apartments; 26 three-bedroom residences. The area of the apartments ranged from 69.58 m2 for one-bedroom residences, 109.9 m2 for two bedrooms and 180.42 m2 for three bedrooms. According to preliminary estimates, the project will be fully ready within 24 months. Al Badia Terraces residential complex has been designed to meet the growing demand from buyers in Dubai for upscale housing in developed and vibrant areas of the...

The new offer is available for both residents and non-residents. The Islamic Bank of Abu Dhabi (ADIB) has announced the launch of its first-ever construction financing proposal. The scheme allows clients to purchase a plot of land for the purpose of investing or to achieve their homeownership goals. The offer, available to both residents and non-residents, allows buyers to purchase real estate or make land transfer payments to own vacant residential lots in well-known residential communities. The new offer was made in response to the «growing interest» in buying land among both UAE citizens and foreigners. Due to the rise in real estate and land prices in the UAE since last year, people are increasingly seeking to purchase land as an asset or as a way to build their own home...

Wealthy individuals, millionaires and entrepreneurs will continue to stimulate the growth of the luxury real estate market during the second half of 2022. Due to the limited inventory of premium properties and the inability to meet the growing demand, the luxury housing sector will continue to grow in Dubai during the remaining half of 2022. Market experts and leading analysts say that the demand for first-class apartments and villas in Dubai has been growing since the beginning of the year, as wealthy individuals (HNWI), millionaires and entrepreneurs seek to move or purchase secondary real estate in the emirate. By the end of 2022, it is expected that about 4,000 HNWIs will move to the UAE. Now the country is actively fueling interest and simplifying long-term visa programs for...

The latest Reuters survey of analysts shows an average increase in house prices in Dubai by 7.5% in 2022. According to experts, the cost of housing in Dubai will grow for at least another two years. This is mainly due to stable demand from investors and buyers from abroad. According to Reuters, higher interest rates and a shortage of available facilities may become a deterrent to activity in the future. The economic recovery caused by the rising cost of energy carriers and increased activity in the tourism and trade sector helped the real estate market to survive the falls of previous years and maintain a steady positive trend. According to a Reuters poll of May 11-26 among 13 market analysts, recorded an average increase in prices for residential properties in Dubai by 7.5% in 2022. A...

Rental rates in most areas of Dubai are growing at double-digit rates. The leaders among the areas with the highest rates of price growth were: Dubai Marina, Jumeirah Beach Residence, Jumeirah Lake Towers and Palm Jumeirah. Interestingly, rents in affordable areas such as Deira, Dubai Sports City and Jumeirah Village are also growing at double-digit rates due to an increase in population. Real estate analysts expect rents to continue to rise through the end of this year, albeit at a slower pace, and reach 2014 levels by the end of 2022. The analytical source Property Monitor reports that in the first quarter, rents in these areas changed as follows: Dubai Marina – an increase of 25% compared to the same period last year; Palm Jumeirah – 22 yen%; Jumeirah Beach Residence...

The attractiveness of Arab real estate remains at a fairly high level due to the effect of the last Expo-2020. According to experts, the housing sector in the United Arab Emirates is now sufficiently developed and diverse to maintain the activity of investors and end buyers from abroad who arrived in Dubai to attend Dubai Expo 2020. Vice President of H&S Real Estate, pointed to the «side effect» created by the global mega-event, as it firmly anchored the city, and therefore the UAE, on the world map. Now the whole world has learned for sure that the UAE, and in particular Dubai, can hold major events at the global level. The UAE has shown the world that right now they are in such a position that they can even host the Olympic Games. This is a vision that His Highness...

Sales of residential real estate by Emaar Properties experienced rapid growth in 2021. Dubai's largest developer has successfully mastered the new demand born on the market recovery in the past year. The company's annual revenue increased by 51% to USD 4,800,000,000, which also demonstrates the degree of willingness of wealthy buyers to spend money in the premium real estate sector of the emirate. However, sales of commercial real estate, land and the hotel segment also increased. Sales in the commercial sector increased from USD 1,540,000,000 to USD 3,440,000,000, the hotel segment grew from USD 789,000,000 to USD 1,490,000,000, and real estate leasing and retail increased from USD 4,000,000,000 to USD 5,880,000,000. As of February 2022, the company's annual revenue growth was 80%...

The Arab Emirates have its own reasons to keep a neutral position in the current situation. The country has disagreements with the United States over the conflict in Yemen, besides, the UAE authorities have long been leaning towards China, its economy and investors. Together with European, millions and billions of dollars arrive in the country in the form of both traditional financial assets and cryptocurrencies. However, both the Europeans and their money often get into the country in the most anonymous ways. The main object of interest for European buyers in the UAE is real estate of a wide variety of categories. Premium real estate, of course, is at the forefront: luxury apartments, penthouses, villas and mansions. However, all other assets are also being bought up. What cannot be...

According to a number of sources, from 11,071 to 12,119 residential real estate transactions were completed in January–February 2022. This is the highest start of the year in the entire history of observations. This record is a natural continuation of the explosive growth of the market in 2021. The total value of real estate transactions last year reached USD 35,000,000,000. In the premium sector, off-plan projects play an important role, that is, real estate at the project or construction stage. The key attention is given to properties that market launch should take place in 2024-25. Coastal areas such as Emaar Beachfront by Emaar Properties and Peninsula by Select Group have become the most popular. Despite the assurances of the Emirati authorities about their readiness to...

Not so much in spite of, but Dubai's premium real estate segment showed incredible growth in 2021. Due in no small part to this type of property, the emirate's market has achieved exceptional historical results. By the end of 2021, an average of 17% increase in prices was recorded in Dubai. A record number of new investors and wealthy buyers who want to buy luxury villas and penthouses have arrived on the market. A wide variety of long-term records were broken in price growth, volume and number of sales. Due to the unprecedented demand for real estate of the highest price category, the available supply of such goods on the market has significantly decreased. The developers of the emirate have already planned the launch of many new construction projects in 2022. But buyers should expect...

Five properties from the list of the 100 highest buildings in the world are located in Dubai and in 2024 a new elite hotel «Ciel» will join its list. The height of the skyscraper will be 365 meters. The building is being built by the efforts of The First Group. At the moment, the 52-floor milestone has already been overcome. It is expected that the facility will be commissioned in the IV quarter of 2023 or in the first half of 2024. At the moment, the highest hotel in the world is Evora Hostel, located on the Sheikh Zayed Highway. Its height is 356 meters. Behind Evora is JW Marriott Marquis, whose height is 355 meters. «Ciel» is indeed a top-level hotel. Upon completion, the building will be 1,000 elite guest rooms and suites. All this is complemented by...

The volume and cost of luxury properties in the emirate have reached record levels that Dubai has not recorded since 2015. In total, in 2021, more than 52,000 villas and apartments were sold in the city, the total value of which exceeded USD 31,000,000,000. It is more than the combined results of 2019 and 2020. At the same time, 93 properties of the super-elite category, worth from USD 10,000,000, were sold during the year. Dubai has also experienced a record influx of new and wealthy investors. The growth of the market was determined by «ultrahainets» from India, Russia and Europe, including Switzerland and Monaco. Ultra-rich foreign buyers continue to have a significant appetite for expensive real estate in Dubai. Thus, sales of real estate worth USD 10 million or more in...

In the annual Wealth Report, the international consulting company Knight Frank shared the latest data of their Prime International Residential Index 100 (PIRI 100). Based on data from the world’s 100 largest real estate markets, the company reported that premium house prices rose by 8.4% in 2021. This is 2% higher than in 2020. With a 13% increase in prices, American luxury real estate leads the world. The Asia-Pacific region ranks second, with prices rising by 7.5%. Markets in Europe, the Middle East, and Africa grew by only 7.2%. However, housing prices continue to grow this year. The leaders will be three cities: Dubai, Miami, and Zurich. Prices for premium real estate will increase in these cities by 10-12%. Dubai Last year, PIRI 100 recorded a 44% rise in luxury property...

In 2021, the elite property segment in Dubai grew rapidly among other key world markets. According to a report by the consulting agency Knight Frank, this situation will not happen again this year. Very high growth rates were related to high demand from foreign investors and their confidence and desire to invest in safe assets. These assets were tens of thousands of properties in Dubai and Abu Dhabi. The Emirate effectively coped with the pandemic, implemented a nationwide vaccination program, and carried out several economic reforms, and other reforms to simplify resident visas for foreign nationals, business licenses, etc. The results of 2021 were the consequence of distinctive conditions that intersected simultaneously. But there is no reason to believe that 2022 will recreate the...

Wealth Report 2022, a report by the international consulting agency Knight Frank, indicates that last year’s demand leaders were the United Kingdom, the United Arab Emirates, and the United States. Looking ahead, according to the report, in 2022, super-rich Indian buyers are ready to spend 21% of their total funds on the purchase of residential real estate. Only about 10% of ultra-high-net-worth individuals with $ 30 million or more want to buy new housing abroad this year. They plan to spend 9% on investments in commercial real estate, although not directly, but through REITs or lending. On average, one Indian ultra-high-net-worth individual owns 2.3 houses. In 2021, 32% of this category of Indian citizens rented residential property as their "second home". 22% of the...