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UAE Billionaire Hussain Sajwani to Invest $20 Billion in US Data Centre Sector - Seven Luxury Real Estate

UAE Billionaire Hussain Sajwani to Invest $20 Billion in US Data Centre Sector

Hussain Sajwani, the founder of DAMAC Properties and a prominent UAE billionaire, announced plans to invest $20 billion in the rapidly expanding US data centre market. The announcement was made on Tuesday during an event at the Palm Beach, Florida residence of US President-elect Donald Trump. A spokesperson for DAMAC confirmed the news to media agency later that evening. "This is an exhilarating step...

Dubai Launches $1.5 Million Housing Projects to Deliver Over 3,000 New Homes - Seven Luxury Real Estate

Dubai Launches $1.5 Million Housing Projects to Deliver Over 3,000 New Homes

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has greenlit a series of ambitious housing projects valued at AED 5.4 billion. These initiatives aim to enhance living standards for Emirati citizens across various regions in Dubai. The development plan includes the construction of 3,004 new residential units. Among these, 1,181 homes will be built...

UAE Real Estate Market Reaches AED893 Billion in 2024 with Strong Growth Across Emirates

UAE Real Estate Market Reaches AED893 Billion in 2024 with Strong Growth Across Emirates

The UAE real estate market witnessed an impressive performance in 2024, recording a total of AED893 billion in property transactions across 331,300 deals. Key emirates contributing to this milestone included Abu Dhabi, Dubai, Sharjah, and Ajman. Mortgage transactions alone accounted for AED229.3 billion across 50,000 deals, excluding data from Ajman, according to the Emirates News Agency (WAM). Dubai...

Dubai Introduces 2025 Rental Index to Regulate Rents and Foster Market Growth - Seven Luxury Real Estate

Dubai Introduces 2025 Rental Index to Regulate Rents and Foster Market Growth

Dubai's real estate market is set for natural growth, reflected by increasing property values, a surge in new tower developments, and higher sales and rental transaction volumes.   The Dubai Land Department (DLD) has unveiled the Smart Rental Index 2025, a transparent system that will regulate residential rents. This innovative approach incorporates advanced building classification methods to...

BRICS Expansion in 2025: Nine New Nations to Join as Partner Countries

BRICS Expansion in 2025: Nine New Nations to Join as Partner Countries

Starting January 1, 2025, nine nations—Belarus, Bolivia, Indonesia, Kazakhstan, Cuba, Malaysia, Thailand, Uganda, and Uzbekistan—will officially join BRICS as partner countries. This significant development was announced by Yuri Ushakov, a Russian presidential aide, during a press briefing, as reported by WAM. These countries have demonstrated a strong interest in attaining this status, with Moscow...

World's Tallest Observation Wheel Ain Dubai Reopens - Seven Luxury Real Estate

World’s Tallest Observation Wheel Ain Dubai Reopens

The world’s tallest observation wheel, Ain Dubai, has reopened to the public after being closed for over two years due to maintenance. Following a soft launch on Wednesday, December 25, the iconic Dubai landmark officially resumed operations on Thursday, December 26. A Towering Attraction in the Heart of Dubai Soaring to a height of 250 meters, Ain Dubai offers breathtaking views of JBR and Dubai...

Dubai Metro Blue Line: A Cutting-Edge Transit System Designed for 1,000 Passengers Per Train - Seven Luxury Real Estate

Dubai Metro Blue Line: A Cutting-Edge Transit System Designed for 1,000 Passengers Per Train

The Dubai Metro Blue Line will accommodate nearly 1,000 passengers per train, according to a senior official from the Roads and Transport Authority (RTA). This announcement was made during a press conference held on Thursday to launch the highly anticipated Blue Line project. With construction set to begin in April next year, the Blue Line will consist of 28 trains, each designed to hold up to 988...

UAE Central Bank Cuts Rates by 25 Basis Points, Aligning with US Federal Reserve Policy - Seven Luxury Real Estate

UAE Central Bank Cuts Rates by 25 Basis Points, Aligning with US Federal Reserve Policy

The UAE Central Bank has announced a 25 basis point reduction in its benchmark interest rate, mirroring the US Federal Reserve’s recent decision to lower rates in a bid to stimulate economic activity amidst easing inflationary pressures. This adjustment reduces the base rate for the overnight deposit facility to 4.40%, effective Thursday. Meanwhile, the short-term borrowing rate for liquidity remains...

UAE GDP Set for 5% Growth in 2025, Outpacing Global Economy - Seven Luxury Real Estate

UAE GDP Set for 5% Growth in 2025, Outpacing Global Economy

The UAE's GDP is forecast to grow by 5% year-over-year in 2025, surpassing global economic growth, which is projected at 3.2%, according to a recent report. This performance will be driven by robust non-oil economic activity and supported by initiatives aligned with the UAE Centennial 2071 vision, focusing on economic diversification and strategic infrastructure investments. Key Drivers of...

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