DUBAI: As part of its ongoing efforts to enhance governance and sustainability in the management of jointly owned properties, the Real Estate Regulatory Agency (RERA) at Dubai Land Department (DLD) has announced the formation and registration of 127 new owners’ committees across the emirate. This initiative underscores RERA’s commitment to empowering property owners and fostering active participation in community management, aligning with Dubai’s ambitious vision to lead the global real estate sector. RERA has received a significant number of applications for owners’ committees, with approvals granted based on the specified terms and criteria for both existing and new committees. This strong interest reflects the growing enthusiasm among property owners to take an…

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, reviewed the progress of the Sheikh Rashid Bin Mohammed Bin Rashid Al Maktoum Housing Project for Citizens in the Wadi Al Amardi area in Dubai. The project features 672 villas under construction at a total cost of AED1.4 billion, in addition to endowment markets, a mosque, a public park, and service facilities designed to meet the needs of Emirati families. The new residential project is directly overseen by H.H. Sheikha Hind bint Maktoum bin Juma Al Maktoum, wife of H.H. Sheikh Mohammed bin Rashid Al Maktoum. It was named in memory of the late Sheikh Rashid bin Mohammed bin Rashid Al Maktoum. The project supports the Sheikha Hind bint Maktoum Family Programme, launched by her to…

The Dubai Integrated Economic Zones Authority (DIEZ) and the Dubai Land Department (DLD) partnered to support and enable the property technology (Proptech) sector. The collaboration aims to enhance research, development, and technological innovation, as well as ease of doing business in Dubai, and to contribute to the growth of emerging startups, small and medium and innovative enterprises in the sector. This partnership aligns with the objectives of the Dubai Research, Development, and Innovation (RDI) Grant Initiative, launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, in September 2024. Through one of the four priority sectors – Cognitive Cities – Dubai RDI will focus on Proptech, smart…

The Real Estate Regulatory Agency (RERA), a subsidiary of Dubai Land Department, invited all property owners residing in jointly owned properties to take the initiative and register for Owners Committees, in line with the Jointly Owned Property Law in Dubai and with RERA’s ongoing efforts to enhance transparency and ensure the sustainability of properties in the emirate. The Owners Committees play a crucial role in empowering property owners and fostering their active involvement in managing residential communities. This initiative aims to enhance the quality of life, ensuring greater comfort and satisfaction for all residents, and aligns seamlessly with Dubai’s forward-thinking vision to optimise the management of jointly owned properties while promoting transparency and…

Real estate transactions in Ajman totalled AED2.28 billion in December 2024, marking a record growth of 102 percent compared to the same period in 2023, according to the Real Estate Report issued by the Department of Land and Real Estate Regulation. Omar bin Omair Al Muhairi, Directo-General of the Department, stated that the number of real estate transactions in December 2024 reached 1,169, including 935 property trades valued at over AED1.86 billion. He noted that Al Jurf 1 recorded the highest property sale at AED300 million. Al Muhairi highlighted that Ajman’s real estate market is experiencing unprecedented growth, achieving record figures that reflect the sector's quality, the diversity of investment opportunities, and its appeal to investors across various segments. The…

DUBAI: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has approved the implementation of a series of housing projects worth AED5.4 billion to benefit citizens across different areas of Dubai. The projects will see 3,004 new homes being built for Emirati citizens. Of these, 1,181 homes will come up in Latifa City for beneficiaries under the housing loan category. For beneficiaries in the housing grant category, the projects envisage 606 new homes in Al Yalayis 5, 432 homes in Wadi Al Amardi, 398 homes in Al Awir 1, 200 homes in the Makan area of Hatta, 120 homes in Oud Al Muteena, and 67 homes in the countryside and rural areas of Dubai. The housing projects, offering diverse options for Emirati citizens, align with the Sheikha…

ABU DHABI: The UAE’s real estate sector maintained its growth momentum throughout 2024, marked by an increase in real estate projects and infrastructure investments, reinforcing its position as a key pillar of the country's economic growth. The vibrant real estate markets across the emirates underscored the UAE’s status as a global hub for property investments and an attractive destination for high-net-worth individuals who play a vital role in stimulating market activity, particularly in luxury real estate. The property markets in Abu Dhabi, Dubai, Sharjah, and Ajman witnessed significant activity in transaction volumes over the past year, maintaining positive performance levels thanks to diverse investment opportunities and growing demand for various property…

Dubai Municipality has announced that it has awarded contracts for Phase Two of Al Mamzar Beach Development Project coming up on a 125,000-sq-m area in the city. Work on Phase One began in June last year and now stands 45% completed. The total cost of the project is projected to be around AED400 million ($109 million) across both phases. On Phase One work, the civic body said covering an area of 275,000 sq m, the beach ranges in width from 30 to 90 metres at various points. The project includes the construction of a 200-m-long pedestrian pontoon bridge to connect the two banks of the creek, ensuring ease of access for the public. It also features a 300-m-long night swimming beach designed to be accessible for people of determination, along with a 5-km walkway and dedicated running and…

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the Dubai Walk Master Plan (Dubai Walk), a visionary initiative aimed at transforming Dubai into a pedestrian-friendly city. H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the UAE’s Deputy Prime Minister and Finance Minister, as well as the First Deputy Ruler of Dubai, were present when the plan was authorized. The Dubai Walk Master Plan emphasizes accessibility, safety, and a pleasant walking experience. It will create a distinctive integrated network of walkways with unobstructed paths and increased green spaces. His Highness Sheikh Mohammed bin Rashid Al Maktoum said that enhancing the quality of life in Dubai remains a key focus of the…

Dubai World Trade Centre (DWTC) has initiated the first phase of the Dubai Exhibition Centre (DEC) expansion at Expo City Dubai, with enabling works and piling contracts now completed, and main contract works underway. The AED10 billion expansion masterplan, approved by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, in September this year, will transform Dubai Exhibition Centre (DEC) into the region’s largest indoor events venue upon completion. The expanded DEC will serve as the new home for mega exhibitions and allowing Dubai to double the number of large-scale events hosted annually from around 300 today to over 600 by 2033, reinforcing the emirates’ status as a leading hub for international exhibitions and business…

Dubai recorded the highest volume and value of transactions ever in the second quarter (Q2), with the total number hitting 43,522, an increase by 45% compared to Q2 2023. The value of transactions increased by 37%, totalling AED124.4 billion ($33.9 billion), according to Property Finder, Mena’s leading property portal. Market volume peaked, surpassing the previous high achieved in Q1 2024 by 17%, while transaction values exceeded the previous peak recorded in Q4 2023 by 2%. On the other hand, Abu Dhabi saw over 2,489 transactions with values reaching almost AED6.7 billion. In Abu Dhabi, existing properties have shown a YoY increase of approximately 41% in volume with around 1,166 transactions in Q2 2024. The value of these transactions increased by 42% YoY, touching AED3.8…

Dubai Ruler approved the plans on Sunday for the new passenger terminal at Al Maktoum International Airport. All of Dubai International Airport’s operations will be gradually moved to the new airport over ten years. The Dh128 billion terminal will be built, and work will start right away as part of the Dubai Aviation Corporation’s plan. Covering an area of 70 square kilometers, the airport will have five parallel runways and 400 aircraft gates. When finished, it will be five times larger than the existing Dubai International Airport (DXB). Technologies never employed in the aviation industry will also be used at the new airport. Announcing social media platform X, Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister of the UAE and Ruler of Dubai,…