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...
A penthouse at The Royal Atlantis Resort and Residences on Palm Jumeirah has been rented out for Dh4.4 million — becoming the one of the 'biggest single-unit rental deals' in Dubai. It is believed to be the 'most expensive' apartment lease in the city's history, a real estate agency claimed. The 10,000sqft four-bedroom penthouse includes a living and dining area, a library, and an exercise room —...
Nearly one in every five homes in Dubai is worth more than $1 million, according to an analysis carried out by global real estate Knight Frank. By tracking the value of each home’s price progress over time, Knight Frank identified “accidental millionaires”, i.e., owners who bought properties for less than $1 million that are now worth more purely due to price inflation. Only homes that have not...
Property buyers in Dubai are no longer required to make a minimum down payment of Dh1 million to be eligible for the Golden Visa, as the government has eased the criteria for real estate investors. If the property's value exceeds Dh2 million, owners opting for a payment plan or mortgage can apply for the long-term visa, Khaleej Times can reveal. The owner can apply for the 10-year residency regardless...
We’re getting another tower in Dubai. This time, courtesy of Donald Trump (sort of). Scheduled for a 2025 launch, this development will mark the second Trump-branded project in the UAE after the Trump Estates at DAMAC Hills. The new venture will feature a Trump Hotel along with branded residential units. This isn’t the first time a Trump tower was announced in Dubai. Back in 2005, a Palm...