Abu Dhabi Global Market (ADGM) and the Department of Municipalities and Transport (DMT) have signed a Memorandum of Understanding to facilitate the transfer of real estate services within ADGM's expanded jurisdiction. As ADGM expands its presence on Al Reem Island, the MoU establishes a strategic partnership between ADGM and DMT to transfer the real estate services and enhance the efficiency and quality of municipal services provided for residents and businesses within ADGM's jurisdiction. The agreement outlines the roles and responsibilities of both authorities, ensuring a seamless transfer of the real estate sector on Al Reem Island from DMT to ADGM, while fostering ongoing collaboration on urban planning, infrastructure, and all other essential services with DMT. Commenting on…

Bloom Holding today announced the launch of ‘Almeria’, the seventh phase of Bloom Living.   Named after the Spanish city, Almeria offers premium villas with lakeside views ranging from three to six bedrooms. It is scheduled to be completed in Q4 2027.   Bloom Holding has begun the early handover of the project’s first phase, Cordoba, ahead of its scheduled delivery date, a step that reflects the company’s ability to deliver beyond its promise and provide high-quality projects on time. CEO of Bloom Holding Carlos Wakim said, “With this new launch, Bloom Holding is further solidifying its position as a leader in developing destinations that prioritise community living. Our focus on quality and attention to detail underpins our commitment to…

 Burtville Developments, a leading UAE-based developer with over 20 years of global experience, has confirmed significant progress on the “Ville 11” project, which consists of 111 residential units, recently launched in Masdar City, Abu Dhabi. Burtville Developments announced that they have completed 21% of the construction on the “Ville 11” project, which was launched earlier this year, according to indicators from “Dari,” the platform of the Department of Municipalities and Transport in Abu Dhabi. Burtville Developments confirmed that the progress of construction reflects the company's commitment to implementing the project according to the specified timetable, in preparation for the completion and handover of units to buyers on schedule by the…

Bayut, a leading property portal in the UAE, has announced the launch of TruBroker, a first-of-its kind agent rewards and recognition programme designed to elevate the property search experience. In the UAE’s highly competitive property sector, finding reliable agents and accurate property listings can be challenging. Users seek transparency, accountability, and high-quality service to ensure a smooth and efficient property search process. Bayut’s new feature addresses these needs by introducing a merit-based system with performance badges and a competitive leaderboard, promoting excellence among agents in a competitive yet collaborative environment. Users benefit from a pool of highly motivated and reliable agents, while agents are empowered to showcase their expertise and…

A new group of conciliators at the Abu Dhabi Real Estate Dispute Settlement Centre (TASWYA) has taken the legal oath before Counselor Yousef Saeed Alabri, Under-Secretary of the Abu Dhabi Judicial Department (ADJD), marking the start of their roles in facilitating amicable resolutions to real estate disputes.       The appointment of these five real estate conciliators follows a decision by His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court and Chairman of ADJD.   Counselor Alabri emphasised that one of the ADJD’s key priorities is to promote alternative dispute resolution methods, such as mediation and conciliation, in line with broader societal goals of fostering reconciliation and…

The Abu Dhabi Real Estate Centre (ADREC) – the custodian and regulator of Abu Dhabi's real estate sector – announced today the launch of the first residential Rental Index for Abu Dhabi.       Serving both tenants and landlords, the platform is designed to increase transparency, provide indicative rental values and support the stability of the capital's growing rental market. It offers easily accessible and reliable data on residential properties to help investors and residents understand the rental market and make informed decisions based on reliable data.   Indicative quarterly rental pricing is also available on the platform for properties located in areas across Abu Dhabi.     "The Rental Index will energise the rental market in Abu…

A steady influx of investors is driving up the cost of commercial real estate in Abu Dhabi, according to a new report.       Offices in the UAE capital posted significant increases during the second quarter of the year, with Grade A units in prime locations registering around 10% rental growth compared to the previous year, Asteco reported.   Rental rates also posted “robust” quarterly growth ranging between 3% and 8%, especially for new leases.   “The market… saw a steady influx of private and corporate investments, fuelling demand for high-quality office spaces, and leading to significant rental growth,” the real estate consultancy said in the report.   Asteco also noted that Abu Dhabi’s real estate market is…

ABU DHABI: Abu Dhabi recorded a significant increase in documented residential rental contracts during the first half of 2024, with 49,135 contracts registered. This marks an increase of 24,811 contracts compared to the same period in 2023, reflecting a 102% year-on-year growth.   According to data from the Statistics Centre—Abu Dhabi, Abu Dhabi alone accounted for 43,985 of these contracts, a 104.9% annual increase from the 21,465 contracts recorded in H1 2023. Al Ain City also saw substantial growth, with a 77% rise in documented rental contracts, reaching 4,819 contracts in 2024 compared to 2,715 contracts in 2023. Meanwhile, the Al Dhafra region reported 331 contracts in H1 2024, up from 144 contracts in the same period last year. June witnessed the second-largest…

Abu Dhabi developer Aldar Properties has announced the sale of more than 660 units at Verdes by Haven - the apartment residence within the Haven by Aldar masterplan in Dubai – within 72 hours of its launch.   Haven by Aldar is the company’s first development in Dubai in partnership with Dubai Holding. Announcing the key achievement, Aldar said it had generated over AED1 billion ($272 million) through its sales events. Construction work on the project is set to begin somewhere in the first quarter of 2025, it stated. The Abu Dhabi developer pointed out that expats and overseas buyers make up 83% of sales, with Indian, Egyptian and British passport holders representing the top three international markets by sales volume. The development also had strong uptake from UAE…

Reportage Properties, the UAE leading real estate developer, headquartered in Abu Dhabi, signed an agreement with Empire Holding Pakistan, the leading residential and commercial real estate company based in Lahore, Pakistan, to launch a joint venture in the booming Pakistani real estate market. The signing ceremony took place during a special event organized by Reportage Properties, on the sidelines of a special sales day on Sunday, June 30, 2024 at the Yas Hilton Hotel in Abu Dhabi. Andrea Nucera, Managing Director signed the agreement on behalf of Reportage Properties, with Faisal Iftikhar, Managing Director of Empire Holding Pakistan. Based on this agreement, which aims to enhance cooperation between the two companies, a new company with the name “Reportage Empire…

Reportage Properties is organizing a special sales event on Sunday, June 30, at the Hilton Yas Hotel in Abu Dhabi. The event will feature exclusive offers on the company's local and international projects, presenting attendees with significant investment opportunities within the UAE and abroad.   Reportage Real Estate reaffirms its commitment to providing special offers and discounts across all projects to meet the expectations of buyers and investors, both domestically and internationally. These initiatives are expected to drive sales for all of the company's projects in the UAE and overseas.   Reportage Projects   Reportage's portfolio comprises 35 projects located in the UAE, Egypt, Turkey, Morocco, and Saudi Arabia.   Last year, Reportage completed the…

Construction Week magazine, the specialized news platform for the construction and contracting sector in the Middle East, has ranked Andrea Nucera, Managing Director of Reportage Properties, on the 2024 list of the 150 most powerful and influential figures in the construction and building sector in the Middle East. Andrea Nucera is one of the prominent leaders in the real estate sector in the UAE and the region. He held his current position since Reportage Properties was established in 2014. Thanks to his extensive experience in the real estate field, Nucera led Reportage Properties to expand and launch many distinguished projects inside and outside the UAE, as Reportage Properties’ portfolio includes 35 projects in the Emirates, Egypt, Turkey, Morocco and Saudi Arabia. Recently,…