Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved plans for a comprehensive $8.2 billion (AED30 billion) rainwater drainage network. This ambitious project, named 'Tasreef,' aims to significantly increase Dubai’s rainwater drainage capacity by 700%, thereby bolstering the emirate’s preparedness for future climate...
The United Arab Emirates (UAE) has solidified its position as a leading global competitor according to the recently released 2024 World Competitiveness Ranking by the International Institute for Management Development (IMD). This prestigious ranking assesses economies on a holistic basis, considering factors beyond just GDP or productivity. The IMD prioritizes robust infrastructure, effective...
The UAE moved up three places to seventh position in the annual IMD World Competitiveness Ranking this year, as the Arab world’s second-largest economy continues to grow amid its diversification efforts. The country was rated highly for its business-friendly environment, the dynamism of its economy, reliable infrastructure and its competitive tax regime, the IMD survey released on Tuesday...
Surging demand, that is set to outshine supply, government incentives and a cutting-edge infrastructure give the emirate enough heft to beat economic headwinds Dubai’s real estate market continues to outperform global hotspots like New York, London and Hong Kong, with no signs of a slowdown in sight, with experts saying property prices – and rents – in the emirate will continue to climb in 2025,...
Dubai Property Market Experiences Record-Breaking Performance in May 2024 The Dubai property market hit an all-time peak in May 2024, recording the highest volume and value of transactions ever, data showed on Thursday. As many as 17,713 transactions were recorded during the month, up 53 percent compared to May 2023, real estate portal Property Finder said. Moreover, the value of these transactions...
The extended growth is due to HNWIs' interest in luxury property investment in DubaiThe UAE real estate market is anticipated to reach a value of AED2.6 trillion ($707.86 billion) by the end of 2024, according to recent data from Statista. Luxury demand driving market growth This extended growth is attributed to the increased interest of high-net-worth individuals (HNWIs), particularly their demand...
Majid Al Futtaim announces Ghaf Woods real estate development in Dubai, which will include more trees than residents. You’ll soon be able to live in the forest (without leaving Dubai) Ghaf Woods: A Pioneering Development Integrating Nature and Urban Living Majid Al Futtaim Properties unveils Ghaf Woods, a groundbreaking development poised to become Dubai's first-ever forest-living community. This...
The data revealing that 69% of HNWIs around the world are now interested in owning a branded property in the emirate, up from 59% in 2023 A recent report by Knight Frank, titled "Destination Dubai 2024," reveals a growing interest in Dubai's branded residences among high-net-worth individuals (HNWIs) globally. The study indicates a significant increase in demand, with 69% of surveyed HNWIs expressing...
In 2023, the mall became the most visited place on EarthThe largest mall in Dubai is about to get bigger. Emaar Properties on Monday announced a massive Dh1.5 billion expansion of Dubai Mall, which will include 240 new luxury stores and food and beverage outlets. The contractor is already mobilising on-site for this large-scale project. The largest mall in Dubai is about to get bigger. Emaar Properties...
