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Dubai: Abu Dhabi's freehold property owners had a 6 per cent reduction in their service and community charges during 202...
05/02/2024

Dubai: Abu Dhabi's freehold property owners had a 6 per cent reduction in their service and community charges during 2023, which combined represents a saving of Dh39.7 million from 2022 figures. This was confirmed by the Abu Dhabi Real Estate Centre.

"The lowered fees incentivised investors and potential real estate buyers in Abu Dhabi," said ADREC in a statement. "These reductions are anticipated to streamline property management, cut operational expenses, elevate returns on real estate investments, and uphold competitive pricing for homeowners in Abu Dhabi, both locally and regionally."

Art Bay at Al Jaddaf Waterfront is a new residential development by Ellington Properties lined with exclusive studios an...
05/02/2024

Art Bay at Al Jaddaf Waterfront is a new residential development by Ellington Properties lined with exclusive studios and 1, 2 & 3-bedroom apartments with Dubai Creek Views. This residential haven unveils a new vision of urban living with Dutco's commitment to delivering excellence, seamlessly integrating art, culture, and wellness into the daily lives of its residents.

Situated in the heart of Al Jaddaf, it ensures easy connectivity with its proximity to highways and the metro. Residents enjoy swift access to Al Khail Road, facilitating convenient reach to Zabeel Stadium, Al Wasl Indoor Stadium, Downtown Dubai, Business Bay, and the iconic Burj Khalifa. For those seeking vibrant city life, Downtown Dubai and the Dubai Creek Tower are a short minute's drive away. Additionally, the prestigious Palm Jumeirah beckons within a convenient minute's distance.

Beyond its strategic location, it promises a lifestyle of luxury and convenience with a range of amenities. The development boasts retail spaces, a 24/7 concierge service, a stylish lounge, a well-equipped gym for fitness enthusiasts, and community gardens for tranquil moments. Outdoor working pods cater to professionals seeking an inspiring workspace, while the co-working space adds versatility to residents' daily routines.

Standing as an ode to the symphony of wellness, offering more than just a residence but a sense of place enriched by thoughtful design and cultural integration. As a waterfront development with unparalleled connectivity, stunning views, and a curated lifestyle, it invites discerning individuals to experience the epitome of urban living in the heart of Dubai's vibrant arts and culture scene.

Call : +971 4 548 8716
WhatsApp:+971 58 531 9976
Email: [email protected]

Dubai’s commercial real estate market saw dynamic activity in 2023 that outpaced projections, with particularly strong d...
03/02/2024

Dubai’s commercial real estate market saw dynamic activity in 2023 that outpaced projections, with particularly strong demand witnessed in the office sector.

According to the latest data from the Dubai Land Department, the volume of office space transactions increased 34 percent compared to 2022, while the total value of these deals rose an impressive 48 percent.

Contrary to expectations of a slowdown as businesses widely adopt remote and hybrid work policies, Dubai experienced a notable 44 percent jump in buyer leads for office purchases. While total sales were steady, increased registrations of interest, leads, and engagement indicate the sector retains positive momentum.

Behnam Bargh, Managing Director at CRC, believes that the surge in prospective office buyers “underscores the continued appeal of Dubai’s commercial properties and reflects the enduring confidence investors place in this market.”

Fueling demand is the need for larger premises to meet visa allowance rules linked to office space size as companies grow and hire more employees.

Top leasing areas include Jumeirah Lake Towers (JLT), Business Bay, Sheikh Zayed Road, Barsha Heights (Tecom), and Dubai Media City. The brisk demand has spurred new supply, with certain free zones expanding and projects like 6 Falak, Internet City, and Sweid One launching in JLT.

Some 92,000 square meters of additional leasable area came online in 2023, pushing total stock to 9.2 million square meters, with 44,000 more expected this year.

The strong performance of Dubai’s office sector in 2023 has defied recession risks, recording higher deal volumes and values. This resilience reflects the market’s appeal among investors. With ongoing population growth and recovering economic conditions, further expansion is anticipated in 2024 on the back of rising occupancy requirements.

Call : +971 4 548 8716
WhatsApp:+971 58 531 9976
Email: [email protected]

Sharjah's real estate sector recorded a phenomenal 165 percent jump in investments, driven by a significant surge in non...
02/02/2024

Sharjah's real estate sector recorded a phenomenal 165 percent jump in investments, driven by a significant surge in non-Arab foreign investors in 2023, data released on Wednesday by the Sharjah Real Estate Registration Department shows.

The upswing in investments from 103 nationalities was after a strategic government decision allowing non-citizens and Gulf nationals full ownership rights, the Sharjah Real Estate Registration Department said in a report.

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Dubai: For many property owners in the UAE currently paying mortgage payments – or about to start on these – it’s time t...
01/02/2024

Dubai: For many property owners in the UAE currently paying mortgage payments – or about to start on these – it’s time they started thinking of the ‘one-year’ strategy. If they do, there is a good chance these homeowners will be able to reduce their monthly mortgage payment size to some extent.

This is how it can work – refinance the loan with a fixed one-year term. And UAE banks are willing to offer fairly competitive terms on any such refinance requests.

Ideally, property owners currently on variable rates should be the ones actively seeking out a 1-year refinance option. Because they are the ones who have been most impacted by the 11 interest rate hikes put up by the US Federal Reserve since March 2022 which was reflected on loans in the UAE as well.

For instance, someone with, say, a Dh1 million mortgage payment obligation would be paying Dh2,000-Dh2,500 a month more during 2023 alone from the round of rate hikes. And it gets progressively bigger with higher mortgage exposures. Chances are that the property owner’s income – whether from salary increases or from renting out the unit – would not have matched the EMIs on the mortgages.

Dubai: The Dubai economic zones operator Tecom pulled out a solid 10 percent growth on its top-line numbers, hitting Dh2...
31/01/2024

Dubai: The Dubai economic zones operator Tecom pulled out a solid 10 percent growth on its top-line numbers, hitting Dh2.2 billion for 2023. The gains were led by high occupancy numbers, averaging 89 percent across its portfolio including the likes of Dubai Internet and Media cities, the Dubai Design District, Industrial City, and others.

That in turn delivered a net profit of Dh1.1 billion compared to Dh725 million a year ago. And margins that touched 76 percent compared to 2022’s 68 percent.

In line with its stated dividend policy, Tecom will release a further Dh400 million to shareholders for the second half of 2023, with the payment to be made in April. (On DFM, the Tecom stock had gained 18 percent last year.)

“We have enhanced our position as the preferred destination for investors and entrepreneurs and talent from around the world,” said Malek Al Malek, Chairman. “The Group delivered excellent financial results achieving record revenue and net profit and ended the year with a healthy liquidity position and robust balance sheet.”

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In 2024, the UAE will add 42,000 residential units, with 8,000 in Abu Dhabi and 34,000 in Dubai, as per a JLL report. Th...
30/01/2024

In 2024, the UAE will add 42,000 residential units, with 8,000 in Abu Dhabi and 34,000 in Dubai, as per a JLL report. This follows Dubai's 2023 addition of 36,000 units and Abu Dhabi's 5,000, reflecting strong market demand and rising property values.

Explore the freshest developments in the real estate realm as you navigate through our enlightening carousel.

Informed decisions lead to success, and we’re here to enlighten you!

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According to the World Bank's Global Economic Prospects report, the UAE’s real gross domestic product (GDP) is expected ...
29/01/2024

According to the World Bank's Global Economic Prospects report, the UAE’s real gross domestic product (GDP) is expected to grow by 3.7% in 2024, up from 3.4% last year.

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The UAE revises its Golden Visa framework, removing the AED 1M minimum down payment for property buyers, opening the pat...
27/01/2024

The UAE revises its Golden Visa framework, removing the AED 1M minimum down payment for property buyers, opening the path for a broader range of investors to gain long-term residency.

In 2023, Dubai’s luxury real estate market hit new highs with record-breaking sales, including Palm Jumeirah penthouse f...
26/01/2024

In 2023, Dubai’s luxury real estate market hit new highs with record-breaking sales, including Palm Jumeirah penthouse for AED 500M and significant transactions at Bulgari Lighthouse and Marsa Al Arab.

Dubai-listed developer saw its net triple in 2023 on the back of strong , according to a bourse filing on Monday. ...
25/01/2024

Dubai-listed developer saw its net triple in 2023 on the back of strong , according to a bourse filing on Monday.

The UAE’s market will see the delivery of 42,000 residential units across Dubai and Abu Dhabi in 2024. ...
24/01/2024

The UAE’s market will see the delivery of 42,000 residential units across Dubai and Abu Dhabi in 2024.

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