A Closer Look at Dubai's Market Growth, Sharjah's Appeal, and Major Development Projects and Rental Market Dynamics.

Recent Real Estate Developments in the UAE

7 Key Developers Gain Direct Access to DLD Systems: Revolutionizing Real Estate Transactions in Dubai

DLD Signs Landmark Agreements with 7 Leading Dubai Developers

Sobha Realty is thrilled to unveil its latest and most ambitious venture yet—Sobha Siniya Island, a luxury real estate development on Al Siniya Island in Umm Al Quwain, UAE.

Sobha Realty Announces Private Island Real Estate Project: Sobha Siniya Island

A total of 43,075 sales transactions were recorded for ready properties, both residential and commercial, collectively valued at AED 122.9 billion.

Dubai Real Estate Market Continues Strong Growth in July 2024

A Premier Recreational Destination with Environmental Prioritizationenvironmental development by approving an ambitious plan to transform Jebel Ali Beach in Dubai

UAE Approves Jebel Ali Beach Development Plan

Despite Speculation, Property Prices and Transactions Reach Record Highs.

Dubai real estate market saw record-breaking activity in Q2 2024

Sobha Realty, a leading real estate developer in Dubai, has announced plans to build a new AED 210 million mall within its flagship Sobha Hartland community.

New AED 210 Million Mall to Transform Sobha Heartland Community in Dubai

Unveiling 240 new luxury stores and dining outlets, with innovative design ensuring smooth construction, this expansion solidifies Dubai's status as a global retail hub and enhances Dubai Mall's allure as a premier destination.

Dubai Mall Expansion: A Grand New Chapter for the World’s Largest Shopping Mall

First Quarter of 2024 Breaks Records, with Southeast Submarkets Leading the Growth

Dubai Real Estate Market Soars: Prices to Continue Rising in 2025

TrinityHomes Offers Exclusive Opportunities in the Alghadeer Master Community.

Aldar's Athlon Project Sets New Benchmark in Abu Dhabi's Real Estate Landscape

Transforming Dubai South: The Dawn of a New Era in Real Estate Development

Al Maktoum International Airport Expansion Set to Drive Real Estate Demand in Dubai South

Luxury Redefined: Diamondz Unveils Exclusive "Being Strong" Gym in Dubai

Diamondz Unveils Exclusive "Being Strong" Gym in Dubai

Navigating Dubai's Real Estate Market: Unveiling Hidden Costs and Essential Steps

Dubai Real Estate Buyer's Guide: Understanding Costs and Fees

Revolutionizing Air Travel with Cutting-Edge Technology

Dubai's $35 Billion Megaterminal: Redefining Air Travel

Abu Dhabi, led by True Gamers, is revolutionizing the eSports industry with its pioneering project to construct the world's inaugural eSports island, valued at over $280 million USD. With a thriving gaming community and strategic location.

Abu Dhabi's Visionary Leap: Building the World's First eSports Island

Accompanying the announcement was a striking visual rendering, showcasing the towering Emirates Residences against the iconic backdrop of Dubai's skyline, with a runway elegantly encircling its facade.

Emirates Announces Emirates Residences: April Fool's Day Surprise?

If a homeowner wants to rent out the property again, they need to offer the old tenant the first right of refusal

UAE Property: ‘Can a landlord evict a tenant and re-let the unit?’

Strategy is also expected to boost employment, with 4.3 million new jobs created each year by 2035, report says

Sustainable construction could help Mena region cut emissions by 60%

Demand is underpinned by economic momentum and the growth of businesses

Middle East smartphone shipments grow 21% in third quarter to outpace global peers

They can offer good yields and resale value because of the quality and brand name associated with a development

Are branded homes a better investment for property buyers?

Net income of the developer in the first nine months of the year rose nearly 6 per cent to more than $110 million

Saudi Arabia's Dar Al Arkan reports 91% rise in third-quarter profit

Orders could range from 300 to more than 400 aircraft, according to estimates by industry analysts

Dubai Airshow set for jet deal bonanza as airlines clamour for new planes

The emirate's property market could start to cool over the next 12 to 18 months, S&P Global Ratings says

Cash-rich Dubai developers expected to withstand cyclical downturn

Dubai developer's three-month profit rises to $32.4 million

Deyaar's third-quarter profit more than triples on revenue boost

Dubai developer reports $2.2 billion profit for the period

Emaar’s nine-month profit surges 42% on property sales boost

An off-plan project by Tiger Properties, the tower is located at Jumeirah Village Triangle

40-storey Tiger's Volga Tower redefines residential luxury at JVT

Property sales during the period reaches Dh28.9 billion in the first nine months of 2023

Emaar Development posts 43% increase in 9-month net profit

Recurring revenues records growth of 26% in the first nine months of 2023

Real estate demand drives 42% growth in 9-month net profit at Emaar Properties

Business hub operator's 9M-23 net profit zooms 20% - and stock is a 15% gainer this year

Dubai's Tecom Group turns in 20% gain in 9M-2023 net profit as occupancy nears 90%

Net income in the three months to the end of September rose to $216 million amid record sales

Aldar's third-quarter net profit surges 43% on higher revenue

Kingdom's expanding tourist sector will place it in the major leagues, challenging France and Spain

Saudi tourism chiefs in confident mood at World Travel Market

Number of transactions up 33.8 per cent to 116,116 amid continuing economic growth

Dubai records $117bn of property deals in first nine months of year

Corporation managing the financial district is negotiating planning permissions an area equivalent to the size of 70 football pitches

City of London optimistic about sustained demand for office space

The Summit will highlight the contribution of universities to sustainability

UAE: Top education leaders to feature at Mena Universities Summit at NYUAD

From its bustling food scene to accessibility and proximity to business centres, expats can list many reasons why they love this neighbourhood

Al Barsha Heights: All the convenience of Dubai life at an affordable price

Foreign investors and expat residents buy 77% of the project

Dubai: Haven by Aldar sold out

Swap a 'win-win deal' for both parties, adds to careful planning and management of real estate supply

Abu Dhabi govt, Aldar Properties agree to strategic land exchange transaction

Buyers in this space are looking for a mix of luxury, amenities, and affordability, in both ready and off-plan properties

Dubai mid-market properties see strongest demand and gains

The ceremony honoured 300 graduates from various disciplines

Skyline University College (SUC) wraps up the 33rd graduation ceremony

Having made a mark in Grenada and Greece, ORA Developers expands to new markets

ORA’s hospitality projects exemplify luxury living and great service

Al Maryah Tower is expected to be operational in the first quarter of next year, developer says

Aldar reports high office occupancy as demand for Abu Dhabi commercial space soars

Abu Dhabi powerhouse sees 9M-23 net profit hit Dh3 billion - that's 41% up

After Dubai, UAE mega-developer Aldar wants to expand reach into Europe

Abu Dhabi, UAE

A villa deal worth Dh98 million is claimed to be Abu Dhabi’s most expensive

Following what the London airport has called a 'super' summer, the new chief executive says 'best days still lie ahead'

Heathrow reports significant reduction in losses as summer passenger numbers surge

The Residences at One Za’abeel stand tall at 235 meters and encompass 59 stories

Dubai’s new super tower One Za’abeel takes in first residents

A huge price advantage over the UAE city and the Saudi government’s big push to woo international investors through financial incentives are cited as drivers for Riyadh’s emergence as the new regional hotspot for real estate investment

Dubai real estate market faces Riyadh challenge as Saudi property popularity surges

920 solar modules at leisure destination will generate 524 kW

Abu Dhabi's Yas Bay Waterfront to get clean energy from solar project by Miral, Emerge

The value of mortgages in this period amounted to Dh4.4 billion

Sharjah records Dh19 billion in real estate transactions during first nine months of 2023

Year-on-year visitation to the region climbed three digits

Chinese tourists flock to Dubai during Golden Week on free visa

October 18, 2023 in Dubai, New Development, Reports and Updates, UAE

A residential project inspired by a resort is launched by Meydan

As bank deposit rates hit 5.5%, investors find 2-year lock-ins are just right for them

UAE Golden Visa: Dh2m bank deposit scheme turns popular with freelance professionals, retirees

Company planning new projects and acquiring assets as part of its growth strategy, chief executive says

Dubai’s Omniyat aims to boost its property portfolio to $15bn in next two years

Developers hopeful sales will remain strong over coming weeks, as festive season kicks off peaking with Diwali next month

How India plans to sustain property boom on back of growing economy

Model achieves up to 89% accuracy in screening, with tech used to detect changes in the patient's voice

AI-powered voice analysis tool could detect Type 2 diabetes

in Dubai, UAE, World

In 2024, Dubai among the world’s 10 most prosperous cities

in Business, Dubai, UAE, World

Property in Dubai: Russian investors lead the rise of 47% in property costs

Top communities in Dubai for leasing includes Jumeirah Lake Towers (JLT), Barsha Heights, Business Bay, Sheikh Zayed Road, and Al Barsha, continued to attract businesses

Dubai real estate: Commercial property market demand rises in Q3 2023

in Dubai, New Development, Reports and Updates, UAE

South Bay construction begins; new phase launched

The market’s 10% annual capital increase is the highest recorded in a decade, according to ValuStrat report

Dubai’s apartments record higher price gains on strong demand in August

Fly Red Sea will initially operate four Cessna Caravan 208 seaplanes using sustainable aviation fuel, with plans to expand the fleet in phases

Saudi Arabia's Red Sea Global launches seaplane company to ferry visitors between resorts

Total sales in the emirate outpace other big cities including New York, Singapore and Hong Kong

Dubai tops second-quarter sales for $10 million-plus homes

Dh98m is sale value for 7-bedroom mansion in Ghantoot community

A Dh98 million home lays claim to being Abu Dhabi’s priciest villa deal

In all, 'Pentominium' receives 46 bids to buy and revive 22.34% completed toer

Auction for Dubai Marina's delayed Dh2b, 122-storey 'Pentominium' luxury tower has 46 bidders - who will win?

Eligible first-time home buyers can now pay just 10 per cent down payment for properties under construction

Hong Kong relaxes mortgage rules to support property market

The company currently owns shopping and community centres worth $408 million in Al Ain and Abu Dhabi

Abu Dhabi's Makani Real Estate plans to buy and build new malls in expansion push

The first delivery in the consignment of more than 300,000 gallons will begin before the end of the year

Emirates airline links up with Shell for sustainable aviation fuel supply at its Dubai hub

The owner first tried raising the rent but then served the tenant a 12-month notice to vacate

UAE Property: ‘Can my landlord evict me if the home fails to sell?’

Beachside residences unveiled after a new master plan for the mega development was announced in June

Dubai's Nakheel launches first villa project on Palm Jebel Ali

Off-plan units drove 37 per cent annual growth in total sales to $8.5 billion last month, report says

Dubai property market: Best performing areas for prices and rents in August

Azizi Venice will feature more than 30,000 homes and an opera venue

Azizi Developments launches $8bn mixed-use mega project in Dubai

Embattled property developer last week revealed its chairman was being investigated over suspected crimes

China's Evergrande says shares will resume trading this week

More properties available for short-stays will mean added pressure on 1-year rents too

Dubai short-stay rents sizzle in Q4-2023, this impacts landlords - and residents too

Global high-net-worth individuals plan to spend $2.5 billion on property in the emirate this year

Sales of $10 million-plus homes in Dubai surge to record high in Q3

Villa rents surge 22.6 per cent to reach the highest on record, consultancy CBRE says

Dubai's July apartment rents hit highest level since February 2017

The tenant has received a Dubai Court notary notification via the messaging platform to vacate the property in 12 months

UAE Property: ‘Can my landlord send an eviction notice via WhatsApp?’

India is enjoying a&nbsp;<a href="https://www.thenationalnews.com/business/property/india-s-property-market-is-recovering-but-it-needs-a-helping-hand-1.1178743" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 78, 121);">property boom&nbsp;</a>– and real estate experts say they see no signs of it slowing down any time soon.“Properties are getting sold out within days and sometimes within hours of a launch,” says Anupam Rastogi, co-founder and chief business officer at Square Yards, an Indian real estate advisory firm. "Such events haven’t been seen in India’s property market before.”<a href="https://www.thenationalnews.com/business/property/india-s-property-market-is-recovering-but-it-needs-a-helping-hand-1.1178743" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 78, 121);">Home sales&nbsp;</a>in the July-September quarter rose by 12 per cent compared to the same time last year, reaching 82,612 units across eight of India's biggest cities, including Mumbai, Delhi, Bengaluru and Hyderabad, a report by property consultancy Knight Frank said.Prices were also up across these cities. Hyderabad's prices increased by the most in the quarter on the year, up 11 per cent, while Mumbai's prices were up 6 per cent, data from Knight Frank shows. <a href="https://www.thenationalnews.com/business/property/2022/01/16/can-indias-property-sector-overcome-the-pandemic-blues-and-continue-its-recovery/" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 78, 121);">India's property market&nbsp;</a>is in the middle of a “strong demand” cycle, says Mr Rastogi. “This phenomenon will continue over the next three to four years, provided that&nbsp;<a href="https://www.thenationalnews.com/business/economy/2023/09/25/what-jp-morgans-bond-index-inclusion-means-for-india-and-its-economy/" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 78, 121);">the economy&nbsp;</a>remains robust,” he says. “The housing demand we are witnessing has been coming on the back of a strong economy.”Developers say they are reaping the rewards of this growing appetite, which they saw accelerate&nbsp;<a href="https://www.thenationalnews.com/business/property/how-covid-19-is-affecting-india-s-real-estate-market-1.1026648" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 78, 121);">in the wake of the Covid-19 pandemic</a>, following years of the market being largely subdued. Buyers have continued to flock to the market over the past year, despite relatively high interest rates.“The pandemic and lockdowns helped people realise the importance of having a home,” says Jajit Menon, director, sales, marketing, customers relationship management and product at Shriram Properties, a developer of luxury homes with projects in cities including Bengaluru, Chennai and Kolkata.The Bengaluru-based Shriram Properties says that it has seen a surge in sales this year. READ MORE<a href="https://www.thenationalnews.com/weekend/2023/08/18/how-indians-in-the-uae-can-save-on-taxes-when-selling-property-back-home/" rel="noopener noreferrer" target="_blank" style="color: rgb(51, 122, 183);">How Indians in the UAE can save on taxes when selling property back home</a><a href="https://www.thenationalnews.com/business/cashed-up-property-developers-in-india-snap-up-land-bargains-1.1223137" rel="noopener noreferrer" target="_blank" style="color: rgb(51, 122, 183);">Cashed-up property developers in India snap up land bargains</a><a href="https://www.thenationalnews.com/world/asia/2022/08/27/twin-towers-demolition-highlights-rot-in-indian-real-estate-sector/" rel="noopener noreferrer" target="_blank" style="color: rgb(51, 122, 183);">'Twin Towers' demolition highlights rot in Indian real estate sector</a>“Given the dynamic market conditions and high demand, the company has successfully sold 10.8 million square feet over the past three years,” says Mr Menon.“The overall sentiment in the Indian real estate sector remains bullish” and the company is anticipating a continued growth in sales over the next two years, he adds.“We have witnessed a growth of 40 per cent in sales year-on-year,” says B S Nesara, chairman of Concorde, another developer based in Bengaluru. “Prices for our properties across segments have increased between 18 per cent and 40 per cent.” One significant driver is “renewed interest in home ownership, as more individuals and families seek to invest in real estate”, he says.A trend that people in India are increasingly looking to upgrade their homes is also helping to drive demand, he adds.Knight Frank's report reveals that the share of home sales in the 10 million rupee and above category in India shot up by 35 per cent in the July to September quarter. The consultancy attributes this to homebuyers wanting to upgrade to bigger living spaces with better amenities.“In addition to this, several other factors, including the delicate interplay of supply and demand dynamics, the influence of prevailing interest rates, government policies and interventions, employment trends, investor sentiment, and state-specific policies, contribute to the growth of increasing price points in the real estate market,” says Mr Nesara.He remains upbeat on the outlook. “Pricing of the housing market is expected to rise due to growing demand and limited supply. This surge in demand is particularly driven by the entry of aspirational Gen Y buyers,” he says. Prices in major economic hubs “continue to soar despite an influx of new residential projects”, says Mazhar Syed, director at AsmitA India Realty. “Prices in major economic hubs continue to soar despite an influx of new residential projects”, he says.“Despite global real estate market difficulties, the Indian real estate business is booming. Several reasons drive this achievement, including robust economic growth, favourable demographics, and greater foreign investment.” <a href="https://www.thenationalnews.com/business/property/indian-developers-target-nris-in-emirates-with-special-offers-for-diwali-1.192324" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 78, 121);">Developers are hopeful&nbsp;</a>that sales will remain strong over the coming weeks, as the festive season has kicked off in the South Asian country, peaking with Diwali next month. It is traditionally a time when Indians make big purchases including homes, because it is considered an auspicious time to buy. “The consumer sentiment remains positive, and we are witnessing an all-time high in consumer interest during these festive times,” says Aditya Kushwaha, chief executive and director at Axis Ecorp, a real estate developer.“For us, the last couple of years have been very positive and we continue to maintain a strong growth trajectory in terms of sales.”He says the growth is being bolstered by “strong and growing interest from NRIs (non-resident Indians) in regions such as the Gulf, the US and Singapore”.“Several key factors underpin this trend, including the positive economic outlook in India, attractive investment opportunities and continuing reforms in the real estate sector,” says Mr Kushwaha. “These elements combined create a compelling environment for NRIs as they seek to invest in luxury properties and holiday homes, both for personal enjoyment and as strategic investment choices.”Square Yards' Mr Rastogi says that NRI buyers are driving up to 30 per cent of its revenue.“There has been an exponential rise in real estate demand in India from NRIs living in the UAE due to higher purchasing power and increased transparency in the real estate sector,” he says. “Homes across premium and luxury categories in the three-bedroom and above configurations are witnessing most demand.”However, while India's property sector is enjoying an upwards cycle, the industry continues to face its fair share of challenges, too.One of them is escalating land costs, developers and experts say. Other expenses are rising too, feeding into higher home prices.“The cost of raw materials exerts significant pressure on our production expenses,” says Jay Shah, founder of Kaizen AI, which optimises construction using artificial intelligence solutions.“Recently, the prices of key construction materials, especially cement and steel, have witnessed substantial spikes, further squeezing our margins. Funding – another critical aspect – remains a significant obstacle.”The scarcity of skilled blue-collar labour has also been “a persistent challenge in the real estate sector”, Mr Shah says, “hampering our productivity and leading to project delays”.Prices are not necessarily reflecting the rise in inflation, he says. “It can be seen as a challenge now and going forward – this will lead to an increased cost for developers which means it will lead to an increased cost for buyers,” says Mr Shah.Concorde Group's Mr Nesara says that such issues are major concerns.“Rising property costs and growing concerns over affordability have introduced complexities in the real estate market,” he says. “Developers are faced with formidable challenges, including soaring construction costs, escalating land prices, and rising property taxes.”Sakshee Katiyal, chief executive of developer Home &amp; Soul, says she is keeping a close eye on market dynamics and there are risks that could negatively impact prices.“Market oversupply, seen in some regions of India, can exert downward pressure on prices and impact profitability,” she says.While India’s property sector has come to be better regulated in recent years, boosting consumer confidence in the market enormously, this is an area that still needs some work, experts say.“Developers often grapple with complex and inconsistent regulations at the local, state and national levels,” says Mr Rastogi of Square Yards.“The Real Estate Regulation and Development Act (Rera) was introduced to bring transparency and accountability to the sector, but its implementation has been uneven across states.”Despite these issues, industry experts remain optimistic that the sector's growth is only set to continue, in the foreseeable future at least, with investing environment largely being favourable.“Given the steady economic outlook and the improbability of further [interest] rate increases, we do not believe that there are significant impediments to demand today," Knight Frank said in its report.Year to date sales till the July to September quarter 2023 point to higher annual sales compared to the record levels seen in 2022, and the increasing volume of enquiries or pre-bookings as we head into the festive season bode well for the market, it said.

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