News

According to data supplied by Dubai’s Land Department (DLD), the real estate market in Dubai saw 537 sales transactions worth AED1.44 billion on Wednesday, along with 79 mortgage deals totaling AED193.57 million and 30 gift deals totaling AED104.38 million. The sales included 106 land plots worth AED616.72 million and 431 houses and apartments worth AED824.67 million. The mortgages covered 14 land...

According to the most recent data published by Dubai's Department of Economy and Tourism, 14.36 million international overnight visitors visited the city in 2022, an increase of 97% over the 7.28 million tourists that came in 2021. (DET). Additionally, the emirate came very close to the 16.73 million tourists it had before the epidemic in 2019, which further bolstered its standing as the top global...

2,157 real estate transactions of more than AED 9 billion were made for the week ending 3 February 2023, according to figures published by the Dubai Land Department. (DLD). The largest transaction was the sale of land in Al Wasl for AED 147.5 million, which was followed by sales of land in Island 2 for AED 112 million and Mohammad bin Rashid Gardens for AED 54 million. Al Hebiah Fourth took third...

The largest developer, investor, and manager of real estate in Abu Dhabi, Aldar Properties, and Dubai Holding, a highly diversified investment corporation with a large portfolio of assets valued at Dh130 billion, have signed a legally binding joint venture agreement. The project aims to develop interesting new housing opportunities across important Dubai neighborhoods. The milestone agreement heralds...

According to Arada, revenues would rise by 46% to Dh3.51 billion in 2022 compared to the previous year. The company sold 2,268 residences in 2022, a slight decline from the year before, as homebuyers maintained a recent trend of making investments in larger and more expensive villas and apartments. Jouri Hills, Arada's first project outside of Sharjah, was housed in the renowned Dubai master...

Al Fahid Island has been purchased by Abu Dhabi-based Aldar Properties, which intends to develop a waterfront property there, the company said on Tuesday. The 3.4 million square meter island is traversed by the Sheikh Khalifa bin Zayed Highway (E12), the main route connecting Yas Island and Saadiyat Island. The deal will enable Aldar to significantly expand the size of its land bank and short-term...

58 percent of the development of the premium off-plan Park Avenue I project in Dubai's MBR City has been finished, according to the UAE-based Azizi Developments. The project comprises of three buildings, each with a fully equipped gym and swimming pool, and a total of 372 residential and 29 retail apartments. The building of Park Avenue I is presently 98.30% complete structurally, with construction...

Official announcement of Damac Bay by Cavalli's opening has been made by Damac Properties. The opulent seaside lifestyle will be made accessible to inhabitants in this three-tower, 42-story skyscraper with an aesthetic designed by the renowned Cavalli brand. Damac Bay, which is a part of Dubai Harbour, is embellished both internally and externally with patterns like seashells, pearls, and zebrafish....

The Business Bay neighborhood saw the highest real estate sales in Dubai in 2022 with 10,853. The other areas in the top 10 list of locations with the highest transactions were Dubai Marina (10,074), Al Barsha South 4 (7,338), Burj Khalifa (6,955), Al Merkadh (6,133), Al Hebiah 5 (5,868), Jebel Ali 1 (5,242), Hadaeq Mohammad bin Rashid (4,777), Al Thanyah 5 (4,590), and Palm Jumeirah (4,183). Dubai's...

The real estate market in Dubai had 520 sales transactions worth AED1.22 billion on Tuesday, in addition to 72 mortgage agreements totaling AED216.8 million and 15 gift deals totaling AED98.13 million, according to data made public by Dubai's Land Department (DLD). 80 land plots valued at AED321.11 million and 440 houses and apartments valued at AED902.79 million were sold. The mortgages included 63...