Swank Development, a real estate developer fro Portugal, has recently opened an office in Dubai, and plans to launch its first project in Meydan, Mohammad bin Rashid City.   “Dubai is one of the top global destinations for business and living. It is the thriving economy, superior lifestyle, advanced infrastructure, as well as safety and security, that distinguishes it from other regional and global cities. The vision of the country’s leaders, coupled with strategic policies that are favorable for progress make this a perfect launchpad for us. Dubai’s continuous growth as one of the happiest and safest cities in the world and its ability to attract investors from around the world gives us the perfect canvas to develop urban spaces that reflect the essence of…

The UAE’s real estate market is expected to witness a slowdown in price increases, dropping by nearly 10% by the end of 2024, according to S&P Global Ratings.   Speaking at a media roundtable, Tatjana Lescova, Associate Director at S&P Global Ratings spoke about the outlook of the UAE’s real estate sector and the upcoming supply inventory that will impact the market.   “If you look at the real estate sector today, the first three months of the year [2024] saw double digit growth compared to last year and the prices are continuing to rise. So, we generally think prices will increase on a full-year basis at [the rate of] 5% to 7% this year,” she said. “But this also points towards a deceleration in growth because prices in 2023 increased…

Leading urban planning and development company URB, based in Dubai, has proposed to develop a ground-breaking project that establishes new benchmarks for coastal regeneration in the city. Dubai Mangroves anticipates planting more than 100 million mangrove trees over a 72-kilometer stretch to improve Dubai’s coastline while combining ecological preservation with urban development. This proposal, which emphasizes urban resilience, biodiversity, and sustainable planning, is in line with the city’s environmental goals as well as the objectives of the Dubai 2040 Master Plan. At present, the project is in its research phase, with six pilot design studies proposed in specific areas. Every zone will function as an example of how various infrastructure components can coexist…

For many of the richest families and individuals worldwide, the Dubai International Financial Centre (DIFC) is a reliable, international hub.   DIFC has contributed to Dubai’s ranking as the top city in MEASA and among the top 22 cities worldwide in terms of the wealthiest populations. It is home to over 120 of the wealthiest families and individuals in the world, with combined net worths exceeding $1 trillion.   The World’s Wealthiest Cities Report 2023 states that over 68,500 HNWIs—those with at least $1 million in liquid assets—206 centi-millionaires—those with a net worth of at least $100 million—and 15 billionaires are among the population of Dubai.   Dubai family businesses With a workforce of over 41,500 and over 5,500…

Jubail Island Investment Company (JIIC) has announced that it has achieved a major milestone in Abu Dhabi's real estate market with the handover of 44 residential units at the Nad Al Dhabi village - located within its AED15 billion ($4.1 billion) mega island development - to the first batch of homeowners. Nad Al Dhabi is one of six villages located within Jubail Island, offering residents access to a range of well-curated amenities and residential options. This village will see the addition of a community centre and dedicated mosque during the fourth quarter of this year. The community centre will include a majlis, a leisure pool, a gym, a room for fitness classes, a multi-purpose community space, an indoor kid’s playroom, a kid’s pool, a kid’s playground, several…

Global captive centers have been growing and changing at an astounding rate over the years. Global captive units have become a popular offshoring strategy in the Middle East. These divisions mainly provide IT support and back-office functions to their parent companies. For many multinational firms, outsourcing corporate operations to captive centers has proven to be an economical and successful business strategy. Businesses like Apple, Standard Chartered, General Electric, UBS, and American Express have been able to reduce costs associated with their back offices and concentrate more on their core competencies by taking advantage of lower-cost locations. Captive centers provide companies aiming to optimize their operations with opportunities for innovation and technological advancements,…

Property prices and rentals in Dubai will continue to witness a rise until 2025 given that the population in the city is growing 300 per cent faster than fresh supply of properties in the first quarter of this year.   Real estate industry executives are extending their forecast for the three-year rally to next year as strong demand continues to outpace supply at a faster pace this year than estimated, especially after the UAE’s removal from the Financial Action Task Force’s (FATF) Grey List.   In February 2024, the UAE was removed from the FATF’s Grey List, which demonstrated the country’s transparency in financial transactions, hence, raising UAE’s profile among foreign investors.   Initially, the price rally seemed to be slowing down…

UAE –  ARA Real Estate Development, a subsidiary of Core Holding, has revealed an AED 22 billion gated community project in Abu Dhabi. Named Arabian Hills Estate, the project is planned to be built on 244 million square feet, according to a press release. DECA Properties was appointed as the exclusive sales and marketing partner for the project. Arabian Hills offers open, freehold ownership, appealing to a diverse clientele seeking modern living. With stunning lagoons, natural pools, serene parks, and various recreational amenities including equestrian facilities and 5-star resorts, the project enhances the quality of life for residents and short-stay visitors alike. Hany Sabry, CEO of Core International Holdings, said: "We look forward to this collaboration with DECA…

Select Group, a leading real estate developer headquartered in Dubai, has announced the launch of Six Senses Residences Dubai Marina, marking a new chapter in ultra-luxury living. This significant milestone in architectural excellence is set to claim the title of the 'tallest residential tower globally' as it reshapes the Dubai Marina skyline, reaching a height of 517 metres, said a statement. The development follows the successful partnership between Select Group and Six Senses for the award-winning Six Senses Residences The Palm, Dubai and signifies Six Senses' first standalone residential development. Strategically located in the vibrant Dubai Marina district, the ultra-luxury 122-storey development embodies the essence of urban sophistication, offering residents an unparalleled…

The Emirati developer Binghatti is launching a new mega development in Dubai. The landmark project Binghatti Hills is set to become the most expansive development within the community. The unveiling of this project will be held on the 29th of April followed by a four-day sales event in Four Seasons Jumeirah, Dubai. The exquisite project will comprise a total of 1,666 residential units and 21 retail spaces. Drawing inspiration from the natural contours of terrains, Binghatti Hills seeks to capture the serene ambiance of a rolling hillside and translate it into an architectural masterpiece that embodies the spirit of tranquility amidst the bustle of city living. Binghatti Hills will feature private pools and lush sky gardens interwoven into the fabric of the architectural structure,…

UAE - ARA Real Estate Development, a Core Holding subsidiary, has unveiled the Arabian Hills Estate, a master-planned, gated community in Abu Dhabi, at an exclusive event held in Madinat Jumeirah, Dubai. The company said it has assumed the full development and management responsibilities for the AED22 billion ($6 billion) project. DECA Properties will be the exclusive sales and marketing partner for this ambitious 244 million-sq-ft project in Abu Dhabi. This partnership marks a significant step towards realising the vision of Arabian Hills Estate and aligns with the capital city’s 2030 vision for sustainable development and community-centric living, said a statement. Arabian Hills offers open, freehold ownership, appealing to a diverse clientele seeking a modern lifestyle. The…

Portugal eyes more global investment in its real estate sector through its golden visa scheme as the property sector in the country recorded huge growth in the last few years, said Marcos Drummond, Sales Director at Valuable Investment Capital (VIC).Speaking during a networking event in Dubai, he added that the purpose of this event is to showcase Portugal’s real estate landscape to UAE-based investors and highlight the country’s potential investment avenues. He praised Dubai’s dynamic nature, its quick vaccination drive and safety protocols, which helped the city to go back to the normal and resume business activities.Marcos explained that the Portugal Golden Residence Permit Programme is a five-year residence-by-investment programme for non-EU nationals. The…