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...
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...
Elon Musk, the billionaire entrepreneur and visionary behind Tesla and SpaceX, is planning to establish a groundbreaking $1 billion science institute in Dubai. Dubbed "The Musk Institute," the facility aims to attract some of the brightest minds globally, according to Musk's father, Errol Musk, who shared exclusive details with a media outlet during his visit to the UAE. The institute will focus on...
Investing in offplan properties in Dubai has become significantly more accessible, with certain private developers now offering zero down payment options. These projects, launched recently, are priced from AED 800,000 and are slated for completion between 2026 and 2027. If these innovative offers gain traction, more developers are expected to adopt similar strategies to enhance sales. In such cases,...
Dubai has emerged as a compelling choice in the global real estate market, offering an average sale price of just $438 per square foot—significantly lower than its counterparts in London and New York. Despite its reputation for luxury and cutting-edge amenities, Dubai’s property market remains within reach for a wide range of buyers. This affordability allows investors to enjoy luxurious lifestyles...
Dubai’s real estate market is poised for an 8% price surge in 2025, primarily driven by a shortage of housing supply, according to Knight Frank. The firm’s recent analysis, Dubai Residential Market Review: Special Edition, highlights an ongoing real estate boom, with house prices across the emirate now standing 19.9% higher compared to the same period last year. This growth reflects an extraordinary...
A significant number of homeowners in the UAE have found themselves becoming "accidental millionaires" as property prices surge across the country. Recent analysis by global real estate consultancy Knight Frank reveals that nearly 20% of homes in Dubai are now valued at over $1 million. Knight Frank’s study highlights that many homeowners who originally purchased properties for under $1 million are...
Dubai’s real estate market is poised for another year of price increases in 2025, following a remarkable 20% surge in 2024, according to Knight Frank. Residential property values are forecasted to rise by an average of 8% next year, while luxury properties are expected to see a more moderate growth of 5%. This continuous upward trend has significantly boosted the number of million-dollar properties in...
The demand for branded residences in Dubai is anticipated to drive a significant price increase, with industry projections estimating a surge of 10-20% above the current average price of $1,769 per square foot. Certain prime locations with waterfront access, iconic brand associations, or exceptional service levels could see prices soar by as much as 25%. Dubai's branded residences are...
