Dubai's property market is experiencing a surge in mortgage activity, reaching a 14-month high in May according to Dubai Land Department data. This upswing is attributed to two key factors, attractive interest rates and a growing population. Data indicates a significant rise in demand, with the number of financed purchases exceeding cash transactions by over 55%. This trend is likely to continue in the...
Shard, a new Dubai-based real estate platform, is offering a novel approach to property investment. This innovative model allows up to eight investors to jointly own a single property, with each investor's name reflected on the title deed. Benefits of Shard's Co-Ownership Model: Accessibility: Shard lowers the entry point for investors, enabling them to participate in the Dubai property market at...
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,...
UAE's capital was the fastest-growing emerging ecosystem in the region, marking a 28% growth Three UAE emirates — Dubai, Abu Dhabi, and Sharjah — are among the top ten startup ecosystems in the Middle East and North Africa region. According to the Global Startup Ecosystem Report (GSER) 2024, Dubai scored 10 out of 10 in funding, measuring innovation through early-stage funding and investor...
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...
