The UAE’s non-oil economy is anticipated to expand by 4.7% in 2024, according to a report by Michael Bolliger, Chief Investment Officer of Global Emerging Markets at UBS Global Wealth Management. This growth highlights the UAE's strategic economic diversification and its resilience in navigating global challenges through fiscal surpluses and adaptability. Bolliger emphasized that the UAE's non-oil...
The amended laws in Dubai introduce notable changes, including a new mortgage fee and an extended registration period for off-plan properties. These amendments aim to enhance the property transaction process while aligning with the region's evolving real estate landscape. Changes in Mortgage Registration Fees The Dubai International Financial Centre (DIFC) announced revisions to its Real Property...
Arada has started the development of the highly anticipated Armani Beach Residences at Palm Jumeirah, setting a new standard in ultra-luxury living in Dubai. This branded residence project, crafted in collaboration with Armani/Casa Interior Design Studio and renowned Japanese architect Tadao Ando, promises panoramic views of the Arabian Gulf and Dubai’s iconic skyline. Partnership and Design...
For the first time, Dubai's real estate market has achieved an unprecedented milestone, with total sales exceeding Dh50 billion, as per data released on Thursday. This landmark achievement reflects the city's thriving property sector and its growing appeal to investors worldwide. Unprecedented Growth in Sales Transactions According to the latest report, sales transactions skyrocketed to 19,605,...
BlackRock Inc., the largest asset manager globally, has secured a commercial license in Abu Dhabi, marking a significant step toward its expansion in the Middle East. The firm also plans to seek regulatory approval to operate within the Abu Dhabi Global Market (ADGM), solidifying its foothold in the region’s financial ecosystem. This development follows BlackRock’s recent announcement to...
Rothschild & Co has officially inaugurated its new office in Dubai, underscoring its ambition to strengthen its footprint across the Middle East. This move marks a significant milestone for the global financial services firm as it seeks to tap into the vast opportunities within the region. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and...
Dubai is recognized as one of the world’s top cities, with its reputation reaching new heights. According to the latest Brand Finance Global City Index, released on Thursday, Dubai has climbed four places to secure the fifth position among the world’s top 100 city brands, now positioned just behind London, New York, Paris, and Tokyo. Dubai’s strong performance in the business and investment...
As the appeal of homeownership continues to grow among UAE residents, Dubai is witnessing a surge in new property launches. Driven by unyielding demand from both buyers and tenants, real estate developers remain proactive, consistently rolling out new projects across the city. This trend reflects their optimism that Dubai’s real estate market will maintain its upward momentum. Market Growth Fueled by...
Dubai's property market achieved a remarkable milestone in October 2024, with over 20,000 property units sold—marking an all-time high for monthly sales. According to Property Monitor’s latest report, the majority of these transactions were off-plan or under-construction properties, accounting for 73% of the total activity. This surge demonstrates the market's sustained momentum and highlights...
