News

According to Asteco, the UAE will see a supply of 38,500 apartments and 3,800 villas, which is almost identical to previous years. This year, Dubai will account for a sizable portion of it, with 30,000 flats and 3,500 villas. Some of this, like the previous year, is expected to be postponed or will eventually spill over into next year. Around 2,000 residential units are expected to be handed over in...

The Abu Dhabi National Oil Company (ADNOC) announced framework agreement awards worth $1.94 billion (AED 7.1 billion) on Thursday to enable drilling growth. The awards build on ADNOC's recent record investments in drilling-related equipment and services, and they support the company's strategy to increase crude oil production capacity to 5 million barrels per day (mmbpd) by 2030 and drive the UAE's gas...

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, today announced the launch of 'Dubai Can,' a citywide sustainability movement designed to inspire people to make a difference through a series of sustainability-focused initiatives. This initiative, which will be implemented by Dubai's Department of Economy and Tourism, will encourage...

Aldar Properties and Apollo Global Management (Apollo), one of the world's largest alternative investment managers, have signed a historic agreement in which Apollo-managed funds and clients will invest a total of US$1.4 billion in strategic capital to drive Aldar's transformational growth initiatives. The commitments are structured as follows: a US$500 million land joint venture investment; a US$500...

Emaar Properties announced a 209% increase in property sales to AED33.762 billion (US$ 9.192 billion) in 2020 compared to AED10.902 billion (US$ 2.968 billion) in 2020, demonstrating continued investor confidence in the Emaar brand. This is Emaar's highest-ever property sales total since its inception in 1997. "Emaar's 2021 revenue stood at AED 28.270 billion (US$ 7.697 billion), a 57 percent increase...

According to data released by the Dubai Land Department, a total of 2,078 real estate transactions worth AED 6.6 billion were completed during the week ending 11 February 2022. AED1.42 billion was paid for 280 plots, and AED2.54 billion was paid for 1,275 apartments and villas. The top three transactions were a land in Al Mamzer sold for AED132.4 million, a land in Al Thanayah Fourth sold for AED61...

To commemorate the 25th National Environment Day, the Ministry of Climate Change and Environment (MOCCAE), in collaboration with Expo 2020 Dubai, hosted a tree-planting event with representatives from Expo's country pavilions under the theme 'The UAE's Message to the World – Climate Action Now.' The activity aimed to highlight the importance of expanding green cover to reduce carbon emissions in the...

Dubai South, the world's largest single-urban master development focusing on aviation, logistics, and real estate, ended 2021 on a high note by recording a number of outstanding achievements across its various divisions, including attracting new clients and companies, selling out projects, signing top-level partnerships, and launching innovative projects. Following Expo 2020 Dubai and popular demand,...

The first title deeds are being issued in Dubai under ‘fractional’ property ownership, which could dramatically add to the investor base in the local real estate market. In its simplest form, fractional ownership allows multiple investors to acquire an apartment, villa or other property types, and with each of them having ownership rights through the title deeds. Under the current rules, “A...

The UAE Innovates Exhibition will be held at the Festival Garden in Expo 2020 Dubai from the 11th to the 16th of February, 2022, by the Mohammed Bin Rashid Centre for Government Innovation (MBRCGI). The exhibition is open daily from 15:00 to 20:00, with public sessions on the theme of innovation. The exhibition is part of the UAE Innovates 2022 event, which is taking place all over the UAE this...