Eagle Hills announces the launch of its new project "Riga Waterfront," which aims to develop the waterfront on the Daugava River in Riga, the capital of Latvia. The project extends for five kilometers in a strategic location at the intersection of Riga's world heritage historic center, which is recognized by UNESCO, and the charming Art Nouveau district. It has been designed to match a modern lifestyle and contribute to transforming the city's living experience.   Riga is located on the shores of the Baltic Sea and is embraced by the majestic Daugava River. It is a city that UNESCO has designated as a World Heritage Site, undergoing a planned development that integrates the city's rich historical fabric with a new, comfortable modern lifestyle.   Mohamed Al Abbar, The…

New posh communities may have been gaining popularity in Dubai but three staple neighbourhoods remain on top of millionaires' list: Dubai Marina, Downtown and Business Bay. These three prime residential areas where millionaires are buying properties, said a new study released on Tuesday.   Millionaires from new markets are now flocking to Dubai to cash in on lower prices and high growth, according to the annual survey conducted by real estate consultancy firm Knight Frank.   Based on a survey of 217 respondents from 11 countries with a value of $20 million, it found that the US, China, Canada, UK and India are the top markets from where millionaires plan to buy property in Dubai.   These areas are among the top 15 places where millionaires are placing their bets when…

Dubai master developer Emaar Properties has announced the launch of its latest project, The Heights Country Club & Wellness, a mega project being set up in Dubai at an investment of AED55 billion ($15 billion).     Unveiling the key development at a grand event held at the Armani Dubai Hotel ballroom yesterday (May 20), Emaar said it is strategically designed to foster an environment of health and well-being, perfectly aligning with Dubai's leadership’s vision to enhance the quality of life and promote well-being across the emirate.   In addition to its chic townhouses and semi-attached villas, the development features a thoughtfully designed wellness centre, parks, ponds, lush greenways, and an overall community-wide country club experience throughout the…

 Azizi Developments has announced that it has renewed its partnership with Abu Dhabi-based Light Concept for the fourth phase of its French Mediterranean-inspired waterfront community Riviera located in Mohammed Bin Rashid City.       A renowned lighting design consultant, Light Concept is known for its deep industry expertise and dedication to delivering outstanding illumination solutions.   Under this partnership, it will be responsible for the design of façade lighting within the mega project.   Specializing in a wide range of projects, including indoor, façade, landscape, street, and infrastructure lighting, as well as bespoke designs, the company is highly acclaimed for its innovation and creativity in illuminating spaces, it…

The gap between asking and bid rates for rentals has been widening in Dubai as growing demand and tight supply are encouraging landlords to demand higher rates.     Real estate industry executives say that the gap between sale prices of rented and empty units are reaching up to 50 per cent in some areas of the emirate.   Property prices and rents have been consistently rising in most of the prominent areas of Dubai due to local population growth outpacing the supply of residential units, surpassing their previous peaks witnessed in 2014. Some residents believe that landlords are exorbitantly charging rents for their properties and become “greedy”, knowing that their vacant properties will be filled up quickly by new entrants.   According to the…

Dubai housing prices will continue to rise in 2024, with capital gains in the villa segment projected to hit 10-year highs.     According to international consulting group ValuStrat, which released its April price index for the emirate, apartment prices will also maintain an upward trajectory, albeit at a slower pace than villas.   “Apartment price growth, which only started gaining momentum in the second half of last year, is expected to reach new record highs this year,” Haider Tuaima, Director and Head of Real Estate Research told Zawya. “It is highly likely that villa capital gains will exceed the record highs of 2022.”   The ValuStrat Price Index (VPI) for April revealed the average villa valuation per square foot surpassed AED 2,000…

In the dynamic landscape of Dubai's real estate market, the necessity of professional property management services has never been more crucial. As the region continues to attract investors and residents alike, the demand for comprehensive property oversight has surged. Provident Property Management stands out as a beacon of excellence in this realm, offering unparalleled expertise and a commitment to excellence. Why Property Management Matters Property management encompasses a myriad of responsibilities essential for maintaining the value and functionality of real estate assets. From tenant relationships to legal compliance, each facet requires meticulous attention to detail. Provident Property Management excels in navigating these complexities, ensuring that properties under their care…

Reportage Properties, the leading UAE real estate developer, is participating in the activities of the first edition of the “Acres Real Estate Exhibition” in Dubai, to be held at the Dubai World Trade Center from May 16 to 19. The “Reportage Properties” portfolio includes 35 projects in the UAE, Egypt, Turkey, Morocco and Saudi Arabia. Reportage confirmed their keenness to participate in the exhibition, which provides an ideal and distinctive platform to support real estate developers and investors by promoting their real estate projects.  The real estate sector benefit from the UAE major urban and economic renaissance in general and the Emirate of Dubai in particular. The UAE government provide facilities, initiatives and legislation to stimulate…

Damac Properties, a leading luxury real estate developer in the UAE, has announced the successful launch of Phase Two of Lagoon Views within the vibrant and strategically-located Damac Lagoons development.   Following a record sell-out of phase one, the latest release aims to cater to the growing demand for comfortable and modern living in a serene waterfront setting. Phase Two introduces 600 Mediterranean-inspired one and two-bedroom apartments spread across nine buildings nestled in Damac Lagoons. The interiors of these residences are designed with neutral colour schemes, enhancing the sense of understated luxury and creating a calming atmosphere. Large balconies extend the living spaces, allowing residents to enjoy a serene connection to the outdoors and breathtaking views of…

Dubai’s residential property deliveries have picked up in recent months, with thousands of units already completed during the first three months of the year, according to new research.   From January to March 2024, the market saw the delivery of approximately 6,500 homes, which were mostly apartments, a report from real estate consultancy Land  Sterling noted. By year-end, total deliveries will reach around 64,400 residential units, exceeding the previous year’s number of completed properties, the Q1 2024 Dubai Property Watch report noted. During the first quarter of the year, apartments accounted for 75% of the project completions, while villas comprised 25%. The amount of residential unit deliveries in recent months reflects Dubai’s “continued…

Dubai Land Department (DLD) has launched the Real Estate Evolution Space Initiative - ‘REES’, which will gather thought leaders and industry professionals to spur a wave of progress capable of redefining the urban landscape.     The event brought together over 200 sector partners, officials and experts. It featured several sessions and debates on the main trends of the international real estate technology market, exploring opportunities and potential with participation from 25 specialised companies, including 11 exhibitors and 14 companies represented by panellists.   The Dubai PropTech Group was launched in collaboration between the DLD and Dubai Chambers. DLD established several strategic partnerships, including Dubai Future District Fund Investments,…

Reportage Properties, the leading UAE real estate developer, is participating in the activities of the first edition of the “Acres Real Estate Exhibition” in Dubai, to be held at the Dubai World Trade Center from May 16 to 19. The “Reportage Properties” portfolio includes 35 projects in the UAE, Egypt, Turkey, Morocco and Saudi Arabia. Reportage confirmed their keenness to participate in the exhibition, which provides an ideal and distinctive platform to support real estate developers and investors by promoting their real estate projects.  The real estate sector benefit from the UAE major urban and economic renaissance in general and the Emirate of Dubai in particular. The UAE government provide facilities, initiatives and legislation to stimulate…