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 reflects the market's…

For the first three months of 2024, the master developer Aldar in Abu Dhabi achieved a net profit (after tax) of Dh1.6 billion, an 88% increase over the same period in 2023. These came from revenues of Dh5.6 billion, up 83% year over year, and EBITDA of Dh1.8 billion, up 90% year over year. The developer numbers are increasing as a result of the opening of its first residential community in Dubai and Ras Al Khaimah, in addition to the profits from its ongoing series of off-plan launches in Abu Dhabi. Aldar is expected to introduce its second project in Dubai soon. “We look to further growth this year through our strong development pipeline and new opportunities to expand our recurring income portfolio,” said Talal Al Dhiyebi, Group CEO. The backlog for Aldar…

Dubai Investments has broken ground on its residential and hotel towers project located in the northern emirate of Ras Al Khaimah, spanning a 90,000 sqm area, with 40,000 sq m of beaches featuring 189 villas.   The key development - comprising Danah Bay Residential Tower and the 4-star Grand Millennium resort - is being built at a total investment of AED1 billion ($272 million) on Danah Bay, Al Marjan Island.   Standing tall at 89m high, the Danah Bay Residential Tower, will offer 143 units comprising one- to four-bedroom apartments and luxurious penthouses, said Dubai Investments in its statement.   With its distinctive wavy, glazed façade and breathtaking sea views, the tower promises residents a sanctuary of tranquility, complemented by direct beach access…

Jubail Island Investment Company (JIIC) has announced that it has achieved a major milestone in Abu Dhabi's real estate market with the handover of 44 residential units at the Nad Al Dhabi village - located within its AED15 billion ($4.1 billion) mega island development - to the first batch of homeowners.   Nad Al Dhabi is one of six villages located within Jubail Island, offering residents access to a range of well-curated amenities and residential options. This village will see the addition of a community centre and dedicated mosque during the fourth quarter of this year.   The community centre will include a majlis, a leisure pool, a gym, a room for fitness classes, a multi-purpose community space, an indoor kid’s playroom, a kid’s pool, a kid’s…

The Emirate of Sharjah logged 2,606 real estate transactions worth AED3.1 billion during March 2024, across 8.1 million square feet, according to a report issued by Sharjah Real Estate Registration Department. The report showed that the total number of transactions included 837 sales transactions, accounting for 32.1 percent of the total, 333 mortgage transactions worth AED1.1 million, accounting for 12.8 percent, while the rest of the other transactions amounted to 1,436, representing 55.1 percent of the total number of transactions. The sales transactions took place in 97 areas distributed across various cities and regions of Sharjah, including 350 vacant lands, 240 sub-divided towers, and 247 of built-in land. These properties included residential, commercial, industrial, and…

The Emirate of Sharjah logged 2,606 real estate transactions worth AED3.1 billion during March 2024, across 8.1 million square feet, according to a report issued by Sharjah Real Estate Registration Department.   The report showed that the total number of transactions included 837 sales transactions, accounting for 32.1 percent of the total, 333 mortgage transactions worth AED1.1 million, accounting for 12.8 percent, while the rest of the other transactions amounted to 1,436, representing 55.1 percent of the total number of transactions.   The sales transactions took place in 97 areas distributed across various cities and regions of Sharjah, including 350 vacant lands, 240 sub-divided towers, and 247 of built-in land. These properties included residential, commercial,…

 Reportage Properties, the leading UAE real estate developer, is organizing a special sales day at the Rosewood Abu Dhabi Hotel next Sunday, April 28. The company make special offers on selected projects, including an offer of 10% discount on all of their projects, with a 10% down payment, and 1% monthly  installments until  units handing off. There is also another offer that includes a 5% discount, with a 5% down payment, 1% per monthly installments until unit hand off. The offer also enables buyers to benefit from a 15% discount when making a 20% down payment. The “Reportage Properties” portfolio includes 35 projects in the UAE, Egypt, Turkey, Morocco and Saudi Arabia. The company confirmed keenness to continue providing many discounts and special offers on…

UAE - Al Hamra, a leading lifestyle developer and real estate investment company in Ras Al Khaimah, has announced the development of Al Hamra Waterfront, a waterfront residential project within its flagship and award-winning residential community of Al Hamra Village.   Located along the shores of the Royal Yacht Club of Ras Al Khaimah, the project comprises 622 apartments across five 18-floor buildings and 19 townhouses encompassing four clusters, with each residence featuring sea view and a balcony.   With a starting price of AED1.1 million ($300 million), Al Hamra Waterfront consists of studios, one-, two-, and three-bedroom apartments and four-bedroom, duplex townhouses.   The project comes with a plethora of amenities, including a promenade, coworking space,…

During the first quarter of this year (Q1 2024), the real estate sector in Sharjah succeeded in achieving a trading value of AED 10 billion, with an increase rate of 67.1 percent compared to the same period last year. This is due to the increase in sales transactions of various types, including sales, usufruct sales, and initial contracts, as their total amounted to 6,146, compared to 3,011 transactions for the same period last year.   Moreover, and according to the “Quarterly report on the real estate sector performance” issued by Sharjah Real Estate Registration Department, the total number of transactions reached 23,478, with a growth rate of 9.3 percent compared to last year. While the total area traded reached 28.3 million square feet.   In this context,…

ARA Real Estate Development, a Core Holding subsidiary, has unveiled the Arabian Hills Estate, a master-planned, gated community in Abu Dhabi, at an exclusive event held in Madinat Jumeirah, Dubai.   The company said it has assumed the full development and management responsibilities for the AED22 billion ($6 billion) project.   DECA Properties will be the exclusive sales and marketing partner for this ambitious 244 million-sq-ft project in Abu Dhabi.   This partnership marks a significant step towards realising the vision of Arabian Hills Estate and aligns with the capital city’s 2030 vision for sustainable development and community-centric living, said a statement.   Arabian Hills offers open, freehold ownership, appealing to a diverse clientele seeking…

UAE-based Aroma International Building Contracting has announced that it has completed 10% of the work on Helvetia Residences, the inaugural project of renowned Swiss developer DHG Properties in Jumeirah Village Circle (JVC), under a AED250 million ($68 million) deal. The deal was inked following the official launch of its off-plan sales earlier this year. Upon completion, the project will add to DHG’s portfolio of more than 2 million sq m of residential and commercial space that has been developed globally. According to DHG, its flagship 430-unit project is set for handover in Q2 2026. As the Helvetia Residences comes to fruition, DHG’s Swiss engineers are working on the ground with Aroma’s well-experienced team to ensure both precision and excellence, said a top…

UAE - Halfway from Abu Dhabi and Dubai is the seaside destination of Al Jurf, surrounded by lush trees and gazelles roaming around in the natural environment. Now, this hidden gem at the border area is set to be the first healthy living island in the world.   Abu Dhabi-based real estate developer IMKAN in partnership with world-renowned SHA Wellness Clinic will be constructing SHA Residences Emirates – a private island integrating aspects of holistic wellness, a health resort, residential offerings with 86 villas, 49 apartments, two penthouses all with beach access, a long coastline, natural weather, and a Royal connect.   “We have here turquoise water, cooler temperature, and breeze. This is the place where the late Sheikh Zayed bin Sultan Al Nahyan used to come…