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…

  The real estate market in Ajman continues its upward trend, recording 1468 real estate transactions in July with a total value of over AED2 billion, a growth of 42.85 percent year-on-year.       Omar bin Omair Al Muhairi, Director-General of Ajman's Department of Land and Real Estate Regulation, said that the Emirate of Ajman is witnessing a strong momentum and a remarkable increase in the number and volume of real estate transactions given the diversity of investment opportunities and the attractiveness of the business environment. He noted that the volume of transactions during July reached AED1.34 billion, with Al Rashidiya 1 recording the highest sales value of AED80 million.   He stated that the department recorded 280 mortgage transactions totalling…

Alef Group, the leading real estate development company in Sharjah, has announced the completion of the master infrastructure for the Hayyan development.   The project includes the Arim and Alma neighbourhoods which are progressing ahead of schedule, showcasing Alef Group's commitment to delivering exceptional residential projects.   Issa Ataya, CEO of Alef Group said: "The completion of the master infrastructure at Hayyan and the ahead-of-schedule progress in the Arim and Alma neighbourhoods reflect our unwavering commitment to creating exceptional living environments. We are dedicated to providing high-quality, sustainable residential options that enrich the lives of our residents."   Arim Neighbourhood   Arim neighbourhood consists of 848 units and provides…

The real estate market in Sharjah continues its growth, achieving a trading value of AED3.9 billion ($1.1 billion) in prime areas of the emirate during July 2024, according to the "Real Estate Market Performance Report" issued by Sharjah Real Estate Registration Department.       The total number of transactions reached 4,146, while the total area traded in sales transactions reached 13.8 million sq ft during the same period.   These results confirm the attractiveness of the real estate market in Sharjah, and its growing ability to attract local, Arab, and foreign investors alike. It presents multiple investment options, strong infrastructure, and a fair regulatory legislation which all together provide strong opportunities for…

Ajman’s rental market recorded a significant 49 percent increase in transaction value during the first half of 2024, reaching AED2.277 billion, according to the Ajman Municipality and Planning Department.   Abdulrahman Al Nuaimi, Director-General of the Department., said that the rise in transactions reflects Ajman’s growing appeal as a destination for living and investment, supported by government initiatives and infrastructure improvements.   He emphasised that Ajman’s strategic location and quality of life make it an attractive hub for residents and businesses alike. Ammar Abdul Karim Al Kayed, Director of the Rental Regulation Department, reported that residential rental contracts reached AED1.211 billion in H1 2024, while commercial and investment…

Alef Group, the leading real estate development company in Sharjah, has announced that its Al Mamsha Souks (Zone 1) project will soon be completed, with 3,052 units, 80%, now handed over to residents.   Strategically located in the heart of new Sharjah, Al Mamsha Souks comprises a diverse range of housing units, including studio, one-, two-, and three-bedroom apartments, and duplexes. This project represents Sharjah's first fully walkable community, blending modern living with traditional charm.   Issa Ataya, CEO of Alef Group said: “This milestone marks a significant moment in the growth of the Al Mamsha community and Sharjah. Our commitment to exceptional quality is evident in every aspect of this project, from the thoughtfully designed residences to the lush green…

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…

Al Hamra, a key lifestyle developer and real estate investment company in Ras Al Khaimah, will be targeting UK and GCC investors and residents via a special activation in London at the world’s leading luxury department store, Harrods.       In a first for a regional developer, and running for the whole month of August, Al Hamra will have a stand on Harrods’ fifth floor showcasing the exclusive luxury living options at a range of recently launched premium and ultra luxury residential properties to potential investors.   Part of a wider initiative to connect with target audiences in key locations, Al Hamra’s Harrods activation will allow the potential investors to explore Destination Al Hamra in Ras Al Khaimah and the premium lifestyle it offers,…

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…

The UAE’s real estate sector is showcasing robust performance midway through 2024, with strong price, rental and transactional activity levels in its key markets of Abu Dhabi and Dubai, according to CBRE Middle East, a leader in commercial real estate. In Abu Dhabi, leasing in the office sector remained strong in the second quarter, with a 16% increase in rental registrations compared to the previous year. Rental rates also improved, with increases of 9.1%, 7.4% and 14.5% in the Prime, Grade A, and Grade B segments, respectively, stated CBRE in its latest edition of the UAE Real Estate Market Review for Q2 2024. The demand and performance are expected to remain strong in the second half of 2024, it added. In Dubai, leasing activity in the occupier market surged in Q2, with a…

        The value of real estate trade in the Emirate of Sharjah increased during the first half of 2024 by 35.6 percent, compared to the same period in 2023, with over AED18.2 billion. This is mainly due to the increase in sales transactions, recording 10,809 transactions compared to 6,592 recorded during the same period last year.   According to the semi-annual report on the real estate sector issued by Sharjah Real Estate Registration Department, the real estate trade in H1 this year is the highest compared to similar periods since 2012 due to the leaps of development that the emirate has witnessed in recent years attracting the interest of investors and buyers and enhancing their confidence in the emirate’s property market, in addition to the…