Property investors are increasingly targeting communities in some parts of Jebel Ali and neighbouring developments amid plans to move the operations of Dubai International Airport (DXB) to Al Maktoum International, according to a new analysis.   The “new areas in focus” among those looking to own residential units now include Dubai South and other neighbourhoods like Dubai Hills Estate, Palm Jumeirah, Arabian Ranches and Al Furjan, PropertyFinder noted in a new report released on Wednesday.   “Following the recent announcement regarding the shift of airport operations, searches regarding areas to own villas showed a significant uptick for interest towards Dubai South (Dubai World Central),” the real estate platform said.   Late last month,…

Property prices in Dubai South and its neighbouring areas will see a jump - up to 15 per cent - this year as the relocation of the Dubai International airport is likely to boost demand.   Real estate industry executives predicted that prices would rise faster when the airport reaches its completion, with demand reaching over 100,000 properties in Dubai South and its vicinities over the next decade.   All operations at Dubai International (DXB) will be transferred to the new Dh128-billion Al Maktoum International gradually over the next 10 years. The airport will have a passenger capacity of 260 million annually.   The emirate will build an “entire city” around the airport in Dubai South and this will drive a demand for housing for a million…

Knight Frank Mena has announced the sale of Kempinski The Boulevard duplex penthouse - the most expensive apartment ever in the Downtown Dubai area - for a record price of AED80 million ($22 million).   Listed by Knight Frank Mena, it is a four-bedroom Sky Collection Penthouse, located within Kempinski The Boulevard, that has a built-up area of 7,466 sq ft with the views of Burj Khalifa, said the top property consultant in a statement.   Boasting five bathrooms, a powder room, two fully equipped kitchens, and furnished by Fendi, this residence offers the epitome of luxury living in one of Dubai's most sought-after addresses, it stated.   Knight Frank Mena pointed out that this sale surpasses the previous record set in 2022, when a five-bedroom apartment in the Burj…

During the first quarter of 2024 the Dubai real estate market witnessed significant growth across its residential and commercial sectors, as indicated by the latest data from the ValuStrat Price Index (VPI). The ValuStrat Price Index or the VPI, is a valuation-based price index constructed to represent periodic change in capital values and rental values experienced by typical residential and commercial properties. In the residential segment, the VPI for capital values surged by 6.4 per cent quarterly and 24.7 per cent annually, reaching 167.5 points, compared to the base of 100 points in Q1 2021. This growth was driven by a 5.7 per cent quarterly and 20.1 per cent annual increase in apartment valuations, propelled mainly by mid-affordable communities. Valuations of apartment units saw…

One Za’abeel, a mixed-use development and the latest landmark in Dubai’s Sheikh Zayed Road, the office tower, has commitments of over 50 per cent in terms of occupancy. Henry Mathews, director for leasing at One Za’abeel, said discussions are ongoing with multiple other tenants. Termed as ‘city within a city’ and the gateway to Dubai’s Central Business District, One Za’abeel is comprised of two skyscrapers, One Za’abeel Tower and One Za’abeel The Residences, which are dissected by The Link, a 230-metre cantilevered building suspended 100-metre above the ground. The iconic towers were developed by the Investment Corporation of Dubai (ICD). It houses Grade-A offices, attracting top firms with its unique dual licensing for both Dubai…

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 personalized…

Amali Properties, a boutique ultra-luxury property development firm in the UAE, has unveiled its first master-planned community, Amali Island, a collection of exclusive villas on The World Islands in Dubai. Nestled along the pristine shores of the Arabian Gulf, the 24 ultra-luxurious beachfront villas represent the epitome of bespoke opulence, offering residents a blend of sophistication, personalisation, and breathtaking natural beauty. Unveiling the project, the Emirati developer said Amali Island offers seven distinct architectural styles, allowing residents to craft their ideal beachfront home with unobstructed vistas of the sea, sky, and Palm Jumeirah. Spanning a total area of 1,200,000 sq ft. it links two of The World Islands (Uruguay & São Paolo) and each villa…

Sharjah Real Estate Registration Department on Tuesday said the number of transactions in central and eastern regions’ four areas of the emirate Al-Dhaid, Khor Fakkan, Dibba Al-Hisn, and Kalba reached 6,732, with a total area of 10.1 million square feet during the first quarter of 2024. It said the transaction value reached Dh332.4 million. “Over the past years, the real estate sector in the Central and Eastern regions witnessed a continuous development which offered promising opportunities. In addition, the two regions enjoy special attention of the government with the launch of many real estate development projects, especially in the tourism sector, which attracted investors within and outside UAE,” said Omar Al-Mansouri, director of the Branches Department at…

During the first quarter of 2024 the Dubai real estate market witnessed significant growth across its residential and commercial sectors, as indicated by the latest data from the ValuStrat Price Index (VPI).   The ValuStrat Price Index or the VPI, is a valuation-based price index constructed to represent periodic change in capital values and rental values experienced by typical residential and commercial properties.   In the residential segment, the VPI for capital values surged by 6.4 per cent quarterly and 24.7 per cent annually, reaching 167.5 points, compared to the base of 100 points in Q1 2021. This growth was driven by a 5.7 per cent quarterly and 20.1 per cent annual increase in apartment valuations, propelled mainly by mid-affordable communities.   Valuations…

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…