Dubai’s new smart rental index is giving tenants a powerful tool to negotiate fair rent increases with their landlords, ensuring that adjustments align with newly established guidelines. The Dubai Land Department (DLD) recently introduced this index to create a fairer rental landscape, linking property ratings to rental valuations. The index categorises residential buildings from one...
A view of Business Bay in Dubai. Business Bay led the way in overall sales value, with 6,888 transactions worth Dh21.1 billion. — Supplied photo A record-breaking year for Dubai’s real estate market, with new milestones being set throughout 2024, culminated in an all-time peak of 180,900 transactions worth Dh522.1 billion. A market report issued today by fäm Properties underlines how 2024...
CEO of Damac Properties Hussain Sajwani makes remarks next to US President-elect Donald Trump, at Mar-a-Lago in Palm Beach, Florida, US January 7, 2025. Photo: Reuters UAE billionaire Hussain Sajwani to invest $20 billion in the booming US data centre sector in the coming years, he and US President-elect Donald Trump announced on Tuesday at Trump's home in Palm Beach, Florida. Sajwani, one of the...
Contracts for Phase Two of the Al Mamzar Beach Development Project, which will be built on a 125,000-square-meter plot of land in the city, have been given by the Dubai Municipality. Phase One construction started in June of last year and is currently 45% finished. Over the course of both phases, the project is expected to cost approximately AED 400 million ($109 million). Regarding Phase One...
Dubai: Dubai is introducing a new 'building classification' system along with its digital rental index. Only based on the 'star rating' associated with the building, landlords can set rates - and most important, how much they can raise it by for renewal. If the tenant is in an older building with a lower rating, then, he or she will not be paying rents at the same level for better kept properties in...
Dubai real estate giant Azizi Developments concluded 2024 on a high note with a record-breaking project delivery and sales performance. Azizi has completed thousands of units across 19 projects, as was planned and announced in 2023, with 6,979 units to now be completed across 25 projects in 2025. Moreover, the developer has recorded the sale of 10,229 units, representing a 15.8 per cent...
Dubai’s property market is expected to witness supply constraints in some key areas, though developers are ramping up construction efforts to meet the rising demand. The soaring price hikes for residential properties in Dubai in the last few years are predicted to see a moderation in 2025, with housing prices projected to see a moderate 5 to 10 per cent price hike this year, in 2025,...
Dubai’s real estate market is set for continued growth in 2025 amid ongoing developments, rising property values, increasing rental demand and strong investor confidence. In 2024, Dubai’s real estate transactions are set to grow 30 percent year-on-year as the sector continues to break records for sales, prices, mortgages, and launches. Annual sales transaction volumes have surpassed 151,000 and...
One and two-bedroom apartments are in very high demand in Dubai for rentals due to persistent rise in rents pushing tenants to smaller units as well as demand from new residents who are looking for more affordable properties. According to a quarterly report released by real estate services firm Engel & Völkers, one and two-bedroom apartments accounted for more than two-thirds of transactions...
More than 6,700 millionaires relocated to Dubai in 2024 alone, and projections indicate an annual influx of 6,500 UHNWIs through 2026. Amid the ongoing growth in the Dubai real estate market, a new collection of ultra-luxury Nordic-style villas is set to launch in the Al Wasl district. The AED 1 billion development was announced by fäm Real Estate Development and is set to attract...