Abu Dhabi's property market recorded resilient growth in the first quarter as the UAE's capital city continues to attract global investors amid a surge in sales prices, particularly in upscale neighbourhoods.   Data from Bayut, a leading property portal in the UAE, shows that sales prices for luxury apartments and villas in popular neighbourhoods have increased by up to six per cent in the first quarter of 2024. Saadiyat Island has seen moderate price hikes, with luxury apartments experiencing a 3.64 per cent surge and premium villas witnessing a 5.53 per cent appreciation.   “The data analysis for the first quarter indicates a steady growth trajectory in Abu Dhabi's real estate market. The rise in property prices, transaction volume and total transaction value…

Dubai had the largest luxury home price growth of 30 cities in 2023 with a 17.4% surge The emirate constituted more than 25% of global super-prime sales last year Dubai, UAE: Teraciel Properties, a super-prime boutique real estate developer that serves discerning clientele who have the highest quality taste, cites that Dubai had the largest luxury-home price growth among 30 global cities in 2023 with values surging 17.4%[1]; with a total of 411 super-prime residential sales (properties valued at $10 million and above), up from 370 in 2022, the emirate constituted for more than 25% of these transactions[2]. Teraciel Properties sheds light on what has made the cosmopolitan city an international leader in this segment, highlighting stability and sustainability among the key…

where every sunrise not only illuminates the sky but also promises a new opportunity in one of Dubai’s most coveted destinations, Dubai Creek Harbour real estate. Here, modern elegance and natural splendor are intricately woven into the fabric of daily life, offering a lifestyle that’s both luxurious and environmentally conscious.   Harmonizing Urban Elegance Valo stands as a beacon of contemporary sophistication, seamlessly blending luxury with a unique urban charm. This architectural marvel emphasizes sustainability alongside sleek, modern aesthetics, reflecting Emaar's commitment to excellence and innovation. Each detail at Valo is meticulously crafted, from energy-efficient designs to elegantly appointed interiors, ensuring a lifestyle that is as responsible as it…

The Discovery Gardens area topped the areas with the highest return on real estate investment in apartments, followed by the Dubai Investment Park area, then Liwan, Remraam, and Al Barari. According to a recent report by the Bayut real estate website, the Discovery Gardens area provides residential properties with floor areas starting from “studio” to three-bedroom apartments, while the average selling price of an apartment in the area is about 457 thousand dirhams, and it offers promising investment returns. Its percentage reaches 10.02%. There are also rental options available with an average rental value of about 43 thousand dirhams annually. This area is located in a distinctive strategic location in the heart of the Emirate of Dubai, within the Jebel Ali area, Sheikh…

Accounting firm PwC on Monday rejected an anonymous letter that criticised the company's involvement in auditing beleaguered Chinese real estate giant Evergrande, saying the letter contained "false allegations". Heavily indebted Evergrande has become a symbol of the years-long crisis in China's property market and last month its onshore unit was accused of a $78 billion revenue overstatement. Chinese authorities are examining the role of PwC in auditing Evergrande, though no decision regarding penalties has been made, Bloomberg News reported last month. The firm said on Monday it was aware of a letter purportedly written by some PwC partners that was circulating on social media. "We believe the letter contains inaccurate statements and false allegations... (that) could tarnish PwC's…