Dubai South Properties awarded a $40.84 million contract to Al Turath Al Aseel for the construction of South Living Tower. Dubai real estate market hits new heights in August 2024.
Over 93,000 units were launched in 2023, setting a record. Prices up 18% year-over-year, reaching AED 1,431 per square foot. Binghatti launched its AED 4 billion Binghatti Ghost project in Al Jaddaf.
The total real estate transactions in Dubai for Week 36 reached AED 7.7 billion, down 10.6% from week 34 numbers. Off-Plan contributed 60.8% and Ready contributed 39.2% of the total value.
Property Finder reveals rental spikes and ownership trends from August. In August, 59% of buyers sought apartments, while 41% preferred villas. RAK property boom sees apartment capital value up 35%.
Dubai's property market saw a 38% sales rise in early 2024. The 725-metre skyscraper in Dubai set to become the second tallest building globally. AED 1.75 billion new luxury project in Meydan.
Dubai's rental market consistently yields above 7%. Dubai property sales till August almost catch up with all of 2023. DAMAC Properties expands into Ras Al Khaimah.
Land transactions in August 2024 was 37.12% of the total transactions. The market saw a decrease of approximately AED 4.2 billion from July 2024 to August 2024, and up AED 10.8 billion over Aug. 2023.
Binghatti Properties plans to build 12,000 homes in Dubai. MERED has begun constructing the 286.4-meter ICONIC Tower in Dubai Internet City. Arabian Ranches vs Al Barari.
The GCC real estate sector is set for continued growth in H2 2024. Aldar Properties is investing AED1 billion to expand its logistics real estate in Dubai and Abu Dhabi.
How to get an Airbnb license. Emirates REIT reported a narrowed H1 2024 loss of $1.5 million. Alef Group announces 90% unit sales at Arim. Emirati women invested Dhs9.2b in Sharjah real estate.
The market is expected to grow by 15% in 2024. Dubai property prices surge 124% since 2020. Dubai’s short-term rentals surge 30%.
The total real estate transactions in Dubai for Week 34 reached AED 8.6 billion. However, down 6.8% from last week's numbers. Off-Plan contributed 69.2% and Ready contributed 30.8% of the total value.
