Dubai's real estate market has become a magnet for global investors, with a noticeable surge in interest from European buyers, particularly those from Germany, France, and the UK. This marks a significant shift in a market traditionally dominated by regional buyers, now diversifying with increased participation from European, Asian, African, and US investors. Global Economic Landscape Shaping...
In the final quarter of 2024, Dubai's real estate market achieved AED116.5 billion ($31.7 billion) in total sales transaction values, marking a 31.1% year-on-year increase, according to a report by Springfield Properties. This milestone underscores the city's robust growth trajectory in the global property sector. Transaction volumes experienced a remarkable 51.8% increase, with 46,844 deals closed...
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...
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...
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'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...
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...
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...
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...
