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...
Majid Al Futtaim announces Ghaf Woods real estate development in Dubai, which will include more trees than residents. You’ll soon be able to live in the forest (without leaving Dubai) Ghaf Woods: A Pioneering Development Integrating Nature and Urban Living Majid Al Futtaim Properties unveils Ghaf Woods, a groundbreaking development poised to become Dubai's first-ever forest-living community. This...
The data revealing that 69% of HNWIs around the world are now interested in owning a branded property in the emirate, up from 59% in 2023 A recent report by Knight Frank, titled "Destination Dubai 2024," reveals a growing interest in Dubai's branded residences among high-net-worth individuals (HNWIs) globally. The study indicates a significant increase in demand, with 69% of surveyed HNWIs expressing...
In 2023, the mall became the most visited place on EarthThe largest mall in Dubai is about to get bigger. Emaar Properties on Monday announced a massive Dh1.5 billion expansion of Dubai Mall, which will include 240 new luxury stores and food and beverage outlets. The contractor is already mobilising on-site for this large-scale project. The largest mall in Dubai is about to get bigger. Emaar Properties...
Palm Jebel Ali Infrastructure Development CommencesNakheel, a leading Dubai property developer under Dubai Holding, has awarded contracts for the construction of critical infrastructure at Palm Jebel Ali. Enhanced Accessibility: DBB Contracting, a prominent UAE civil and marine contractor, will construct a new public access road. Stretching nearly six kilometers, this landscaped route will provide a...
The city remains the number one destination for the global HNWI community and millionaires clamor for the 'Dubai life' Dubai's Property Market Attracts Significant Investment A projected influx of over AED 16 billion (USD 4.4 billion) from high-net-worth individuals (HNWIs) in 2024 solidifies Dubai's position as a leading investment destination. This trend is echoed by global real estate consultancy...
our city has been named one of the best global cities to work in, making the top five. London topped the list for another year (it has retained the top spot since 2014), but Dubai came in at third place and Abu Dhabi in at fourth. The two UAE cities are the only ones in the Middle East to make the top 10, according to a report by management consultancy Boston Consulting Group. Other cities in the...
A total of 36.5 million passengers travelled through the UAE's airports in the first quarter of 2024. The General Civil Aviation Authority (GCAA) said this figure marks a 14.7 per cent increase compared to the same period last year. The breakdown includes 10,874,232 departures, 10,723,639 arrivals and 14,944,466 transit passengers. Meanwhile, the UAE's airports handled a total of 1.1 million...
