Why Dubai is a Prime Location for Commercial Investments? UAE corporate tax: Are investment and real estate funds exempt? World’s millionaires ready to spend nearly $800mln on Abu Dhabi, RAK homes.
Real estate FinTech Stake raises $14m to expand into Saudi market. Dubai real estate sector recorded $4.8bn of transactions last week.
Off-Plan properties contributed a substantial AED 4,097,425,871 to the week's total transactions, accounting for approximately 51.6% of the overall market activity.
Q1 2024 saw sales transactions double from Q1 2023 and triple from Q1 2022. The UAE’s real estate market is projected to reach AED 2.6 trillion by end of 2024.
Majid Al Futtaim has launched Ghaf Woods, Dubai's first forest living community. Dubai South Properties has launched South Living. Total transactions on June 5th reached AED 1.6 billion.
69% of global high net worth individuals (HNWIs) are interested in owning a branded residential property in Dubai, up from 59% in 2023. Non-GCC-based HNWIs show higher interest (83%) compared to GCC.
Dubai recorded 105 sales of homes priced at $10 million or more, nearly double New York's 56 sales. Some landlords offer financial incentives for quicker evictions.
The total value of real estate transactions in Dubai for May 2024 reached AED 62,005,176,926 a 58% increase over last month and 37% increase over May 2023.
Flat leasing rates showed no average increase in Q1 2024, while villa rents dropped by 1%. A five-bedroom townhouse in Villa Amalfi, Dubai's most expensive rental at AED 3.7 million annually.
On May 29, 2024, Dubai's real estate market witnessed total transactions amounting to AED 1,719,840,549.35. Palm Jumeirah top destination for properties sold for more than $10m.
The project features 10,000 residential units, 1,500 hotel rooms, gardens, pedestrian streets, a rooftop waterpark, and AI-enhanced retail. In Q1, Abu Dhabi rents rose 14.7% and Dubai 10.5%.
Abu Dhabi and Dubai ‘see supply imbalance in rental market’. Dubai's Off-Plan market will continue to flourish with record surge in 2024. Rent renewals grew 12% year-on-year in Q1 2024.
