It is projected that the UAE will see a 95 percent increase in per capita income over the next decade between 2023 and 2033 The UAE residents have the highest wealth per capita among the BRICS countries, making it the richest nation in the bloc. The average per capita income in the UAE is $103,500 (Dh380,000), more than double that of the second-ranked neighbouring Gulf country Saudi Arabia with a...
A 75,000 sqft photovoltaic façade will generate electricity to charge 40 electric vehicles daily. On Wednesday, luxury developer Binghatti Properties, based in Dubai, introduced a new $1 billion branded residence in Downtown. The development will feature duplex and triplex apartments. The ultra-luxurious project, Mercedes-Benz Place by Binghatti, is a collaboration with the German luxury carmaker...
DMCC and Danube Properties are partnering for the development of new residential towers in Dubai’s Jumeirah Lakes Towers, with a total investment of AED2 billion. The project will feature two 65-storey towers, comprising a total of 1,200 residential units and covering a built-up area of 1.7 million square feet. DMCC, the free zone authority in Dubai, has teamed up with the prominent private...
Studio apartments start at AED1.2 million, featuring a 30/70 payment plan option. Vento Tower, a residential skyscraper located in Dubai's Business Bay neighborhood, is in the final stages of completion. Developed by ANAX Developments, the tower is expected to deliver 225 apartments by the fourth quarter of 2025. Soaring 19 floors high, VENTO Tower promises luxurious living in Dubai, offering...
During 2023, both primary and secondary residential markets in Dubai experienced significant growth in transactions. The real estate sector in the UAE showed resilience in the face of challenging global economic conditions, resulting in robust growth across major asset classes in 2023, as reported in JLL’s A Year in Review UAE report. Faraz Ahmed, Research Director at JLL MENA, emphasized the...
