Azizi Developments, a leading private developer in the UAE, has signed an agreement with International Foundation Group LLC, which specializes in deep foundation and ground solutions, for the piling, shoring, excavation, and dewatering works for Azizi’s second tallest tower in the world, Burj Azizi, located on a prime plot of land on Dubai’s Sheikh Zayed Road. International Foundation Group (IFG LLC) is a major Emirati expert in deep foundation and ground solutions, renowned for quality and timely project completion. IFG is the fastest-growing Middle Eastern micro-tunneling company, distinguished by its reliance on internal expertise and cutting-edge equipment from top European and Japanese manufacturers. The company offers a comprehensive suite of services including…

Dubai’s leading real estate developer Binghatti announced an immensely successful Sukuk tap on Monday, 8th of July. The Sukuk tap was linked to the developer’s debut February 2027 USD 300 million Sukuk issuance which was listed earlier this year on London Stock Exchange (ISM) and NASDAQ Dubai, and was over 200% oversubscribed. The recent tap brings Binghatti’s overall Sukuk deal size to USD 500 million. The recent tap witnessed record-breaking demand from both regional and international investors, reaching a remarkable level of approximately 4.2x oversubscription.   The continuous high demand and oversubscription levels of Binghatti’s Sukuk underscores the developer’s strong market position and robust global investor confidence in the Binghatti…

ABU DHABI - Aldar Properties announced today 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. Aldar generated over AED1 billion through its sales events. Expatriate residents and overseas buyers make up 83% of sales, with Indian, Egyptian and British passport holders representing the top three international markets by sales volume and emphasising Dubai’s position as a global destination for investment and relocation. The development also had strong uptake from UAE nationals, who account for the remaining 17% of sales. Female buyers represent 28% of sales, with…

leading Dubai-based developer Binghatti announces the early completion of Binghatti Corner, following closely on the heels of the recently completed Binghatti Emerald. Ribbon-cutting ceremonies were held to mark the early delivery of the projects in the presence of Binghatti’s Chairman, Muhammad BinGhatti. The project saw tremendous success after having sold out shortly after its launch and having been completed ahead of the scheduled delivery. This milestone is attributed to Binghatti’s state-of-the-art manufacturing facilities which allow the developer to maintain full control over construction materials and processes, ensuring uncompromising quality and craftsmanship in tandem with speed of execution in construction. “The back-to-back completion of Binghatti Corner…

As the Dubai real estate market continues its upward trend, fueled by significant growth over the last few years, there has been a slight shift in the market which is not only evident in the various data sets but also in daily real estate activities across the streets of the emirate, said an industry expert.       Following the post-Covid surge in record-breaking transactions and an influx of foreign investors, the real estate market is now slowly showing signs of realigning with market norms rather than the anomalies in demand seen in previous years, remarked Lynnette Sacchetto, the founder of RealTrust, a Dubai-based real estate solutions provider.   While the market continues to grow month-on-month, it is beginning to slow down, a trend likely to continue over…

  *Q2  2024 sales increased 37% to AED124.4bn Dubai real estate unprecedented sales in Q2 indicate that the market is close to repeating the recorded peak of 2009, according to real estate consultant, Tariq Al Shehhi. Al Shehhi stated that real estate sales in Dubai reached record numbers in terms of volume and value, as the total number of transactions exceeded 43,000 deals in the second quarter of this year, an increase of 45% compared to the second quarter of 2023. The Q2 value of transactions increased by 37% topping AED124.4bn. Sales reached a new peak, exceeding the previous one recorded in the first quarter of 2024 by 17%, while the value of sales exceeded the previous peak recorded in the fourth quarter of 2023 by 2%.  “During the second quarter of 2024,…

DUBAI: In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, issued Decree No. (44) of 2024, promoting Marwan Ahmed bin Ghalita, CEO of the Real Estate Regulatory Agency, and appointing him as Director-General of the Dubai Land Department.   The Decree is effective from its date of issuance and will be published in the Official Gazette.

Dubai-based Emaar Properties has announced that it had recorded remarkable progress during the first half with 30 launches successfully completed resulting in the sale of 8,400 units, up 56% over last year.   Celebrating the key achievements at its mid-year internal staff rally, Emaar’s leadership reviewed and shared the company’s operational performance and way forward. During the rally, Emaar presented significant milestones and achievements across all areas of its operations. Commenting on the company’s H1 performance, Founder Mohamed Alabbar said: "This shows Emaar’s relentless pursuit of excellence and innovation. We are not just managing businesses; we are shaping legacies and transforming communities for a prosperous future." Some of the highlights…

One Za’abeel, the iconic landmark developed by ICD (Investment Corporation of Dubai), proudly celebrates two Awards Of Excellence presented by the Council on Tall Buildings and Urban Habitat (CTBUH). The development received recognition in 2 categories, ranking it favourably against hundreds of the most prestigious and outstanding projects globally in the architecture, engineering, and construction (AEC) industry.   Regarded as one of the most prestigious international awards programs, CTBUH Annual Awards program recognises projects that make extraordinary contributions to the advancement of tall buildings. One Za’abeel is a winner of the Award of Excellence under the category of “Best Tall Building in the Middle East & Africa 2024” and the category of…

W Capital, a Dubai leading real estate brokerage, signed a cooperation agreement with Mohammed Al Hashimi Advocates and Legal Consultants, with the aim of providing the best legal guidance and consultations to W Capital clients who try to purchase real estate. W Capital CEO, Walid Al Zarooni, signed the agreement with Mohammed Al Hashimi Advocates and Legal Consultants partner, Omar Al Awadhi.  “We are pleased to provide a new service to W Capital clients in cooperation with Mohammed Al Hashimi Advocates and Legal Consultants, with the aim of providing a lawyer accompany the client in all the legal procedures necessary to purchase the property,” said Walid Al Zarooni. The CEO noted that after going through all the procedures for purchasing a property in Dubai, from the…

The hotel brings Spanish charm under the IHG Vignette collection to Dubai, and features its own coral reefs and a kilometre long raining street. Visitors can enjoy authentic Spanish cuisines at its six restaurants, indulge in wellness at The Arabian Spa, and even take a break in its snow plaza adding to the charm and allure of their stay  Kleindienst Group, a leading global business conglomerate and master developer behind The Heart of Europe, announced the launch of Marbella Resort Hotel, Vignette Collection by IHG Hotels and Resorts, on the World Islands, Dubai. The AED 1 billion five-star hotel draws inspiration from the architectural marvels of the Spanish resort town of Marbella, and is poised to bring the complete Costa Del Sol experience to the UAE with its distinct…

UAE-based Majid Al Futtaim has announced a major milestone with the sell-out success of the first phase of its Ghaf Woods, the first forest living community in the heart of Dubai and its newest development in the emirate.     Spanning 738,000 sq m of land near Global Village, Ghaf Woods boasts more than 7,000 premium units with one-, two- and three-bedrooms, as well as penthouses, overseeing pristine views of the forest ecosystem.   According to Majid Al Futtaim, the recent sell-out of the development’s first phase, consisting of 1,000 units, underscores the high demand for living in a natural environment.   Inspired by the principles of Nature Positive, a global model that aims to increase nature and green areas by 2030 compared to 2020, this initiative…