Experts warn that the UK government must fully revoke its controversial tax policies to prevent London’s decline as a prime hub for business, investment, and high-stakes legal matters. Without decisive action, Labour’s current approach could further accelerate the exodus of high-net-worth individuals (HNWIs) from the country. UAE: A Growing Destination for the UK’s Super Wealthy Dubai and Abu...
Starting February 1, 2025, property buyers in the UAE who opt for mortgages will face higher upfront costs. This change comes as banks will no longer finance the Dubai Land Department (DLD) fee, which is 4% of the property value, and the 2% brokerage commission. Previously, these fees were included in the total mortgage amount, but under the new regulations, buyers will need to pay these costs out of...
The Dubai Land Department (DLD) has unveiled a significant initiative, allowing property owners in the Sheikh Zayed Road from the Trade Centre Roundabout to the Water Canal and in Al Jaddaf to convert their ownership status to freehold. This opportunity is open to all nationalities, further enhancing Dubai’s appeal as a global real estate hub. A total of 457 plots are eligible for this conversion,...
Dubai's real estate market has become a magnet for global investors, with a noticeable surge in interest from European buyers, particularly those from Germany, France, and the UK. This marks a significant shift in a market traditionally dominated by regional buyers, now diversifying with increased participation from European, Asian, African, and US investors. Global Economic Landscape Shaping...
In the final quarter of 2024, Dubai's real estate market achieved AED116.5 billion ($31.7 billion) in total sales transaction values, marking a 31.1% year-on-year increase, according to a report by Springfield Properties. This milestone underscores the city's robust growth trajectory in the global property sector. Transaction volumes experienced a remarkable 51.8% increase, with 46,844 deals closed...
Over the past 15 years, Dubai's Burj Khalifa has established itself as a beacon of real estate triumph, recording a staggering AED 8.8 billion ($2.4 billion) in home sales from 1,862 transactions. In 2024 alone, the Burj Khalifa achieved AED 467.1 million ($127.2 million) in home sales, according to Knight Frank's market analysis. Despite a 27% reduction in available inventory, the tower's sales were...
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has greenlit a series of ambitious housing projects valued at AED 5.4 billion. These initiatives aim to enhance living standards for Emirati citizens across various regions in Dubai. The development plan includes the construction of 3,004 new residential units. Among these, 1,181 homes will be built...
The UAE real estate market witnessed an impressive performance in 2024, recording a total of AED893 billion in property transactions across 331,300 deals. Key emirates contributing to this milestone included Abu Dhabi, Dubai, Sharjah, and Ajman. Mortgage transactions alone accounted for AED229.3 billion across 50,000 deals, excluding data from Ajman, according to the Emirates News Agency (WAM). Dubai...
Dubai's real estate market is set for natural growth, reflected by increasing property values, a surge in new tower developments, and higher sales and rental transaction volumes. The Dubai Land Department (DLD) has unveiled the Smart Rental Index 2025, a transparent system that will regulate residential rents. This innovative approach incorporates advanced building classification methods to...
