Founder Mohamed Alabbar confident emirate's real estate sector has returned to growth Emaar Properties PJSC's five-month sales surged by 250 percent year-on-year as Dubai's real-estate market bounced back from the impact of the coronavirus pandemic. The company put total property sales at AEDl0.5 billion ($2.9bn) compared with AED3bn ($816.9m) a year ago. "I am confident that the Dubai property...
Dubai's property market is powering out of a six-year malaise as “lockdown dodgers” and wealthy international investors drive a buying frenzy that is breaking records and fuelling an economic recovery. Luxury villas are the hottest segment in the market, with European buyers, in particular, seeking homes on Dubai's signature Palm Jumeirah man-made island, as well as golf course estates. Dubai's...
Property values jumped for the sixth month in a row in April, climbing 2.5 per cent Property prices in Dubai rose 2.5 per cent in April recording the largest single-month increase since March 2014 as the economy recovers from the coronavirus pandemic-driven slowdown, according to a new report. The average property price in the emirate climbed to Dh895 ($244) per square foot last month from Dh873 per...
The UAE has maintained its status as one of the world’s most competitive economies, ranking 9th for the second consecutive year, according to IMD World Competitiveness Ranking 2021 released on Thursday. The UAE’s is rated the most competitive economy in the Middle East region and better than the US, Canada, Germany, China, UK, Austria, South Korea, France and others. The UAE’s competitiveness...
ValuStrat research shows average 1.2% increase in capital values in April, the best performance in seven years Dubai real estate prices registered their biggest growth rate in April for seven years, according to new research by consultants ValuStrat. Its VPI - Residential Capital Values for Dubai for April expanded 1.2 percent to 67.3 points, the index's best performance since 2014. On a citywide...
Emirate saw sales of more than 6,000 ready homes in the first quarter, worth AED 13.5 billion, and 3,600 off-plan properties worth AED 5 billion The first three months of the year witnessed the highest recorded number of home sales transactions in Dubai. Since 2010, according to the latest Q1 real estate market report from Valustrat. As the emirate's real estate industry continues to recover from...
Dubai recorded the second-highest number of real estate transactions since February 2017 in the first quarter, with 6,590 deals valued at about Dh22.9 billion, a growth in number by 43 per cent and in value by 40 per cent year-on-year. The real estate bulletin issued by Dubai Land Department, ‘Real Estate Updates,’ March 2021, showed that real estate transactions in Q1 2021 achieved a significant...
People prepared to pay more because there is a lack of stock, and it's becoming a trend Dubai's property market is running low on inventory as buyers currently outnumber sellers in popular areas of the emirate. A study by global real estate consultancy Colliers said that due to the consistently high numbers of buyers, the market has seen a transition into a seller's market. "The majority of...
RIYADH: Dubai’s Emaar Properties posted a 140 percent increase in first-quarter sales to 6 billion dirhams ($1.6 billion), founder Mohamed Alabbar told Al Arabiya on Thursday. Alabbar expressed his optimism about the current year, which has seen the improvement after 2020 was marred by the coronavirus pandemic. “The numbers are promising despite the difficulties that the hotel and malls sector...
ONE1OO Palm includes a wellness spa, start-of-the-art fitness centre, massive assorted candy wall, hydraulic pop-up cinema and three gourmet kitchens ONE1OO Palm Villa is the most expensive residential transaction closed in Dubai so far this year. The most expensive villa to be sold on Dubai's Palm Jumeirah, per square foot, has gone for the princely sum of over $30 million. The buyers, a Swiss...