Knight Frank Mena has announced the sale of Kempinski The Boulevard duplex penthouse - the most expensive apartment ever in the Downtown Dubai area - for a record price of AED80 million ($22 million).   Listed by Knight Frank Mena, it is a four-bedroom Sky Collection Penthouse, located within Kempinski The Boulevard, that has a built-up area of 7,466 sq ft with the views of Burj Khalifa, said the top property consultant in a statement.   Boasting five bathrooms, a powder room, two fully equipped kitchens, and furnished by Fendi, this residence offers the epitome of luxury living in one of Dubai's most sought-after addresses, it stated.   Knight Frank Mena pointed out that this sale surpasses the previous record set in 2022, when a five-bedroom apartment in the Burj…

Aldar Properties (Aldar) unveiled Athlon, a first-of-its-kind “active living” community in Dubai. With top-notch amenities and a dynamic activity schedule hand-picked by wellness specialists, the development reimagines fitness-focused living to promote everyone’s long-term well-being and a strong sense of community. Athlon is the joint venture’s second ground-breaking residential project in Dubai, following the highly successful Haven by Aldar, which debuted in late 2023. It was developed in collaboration with Dubai Holding, a diversified worldwide investment company with holdings in 31 countries. Jonathan Emery, Chief Executive Officer of Aldar Development, said, “The unveiling of Athlon marks a definitive moment in our ambitious Dubai expansion…

Aldar Properties (Aldar) today unveiled Athlon, a first-of-its-kind "active living" community in Dubai.   Featuring world-class amenities, as well as a dynamic programme of activities exclusively curated by wellness experts, the development redefines fitness-focused living, with the goal of ensuring long-term wellbeing and a profound sense of community for all residents.   Developed in partnership with Dubai Holding, a diversified global investment company with investments in 31 countries, Athlon represents the joint venture’s second groundbreaking residential project in Dubai, building upon the resounding success of Haven by Aldar, launched in late 2023.   Jonathan Emery, Chief Executive Officer of Aldar Development, said, “The unveiling of Athlon marks a…

  Emaar Hospitality Group proudly announces the official opening of the much-anticipated Palace Dubai Creek Harbour. Situated on the creek’s shoreline, this five-star hotel offers unhindered waterfront views and showcases a glittering cityscape that unveils the Dubai Skyline from a new perspective.     To commemorate the launch of Palace Dubai Creek Harbour, the hotel is delighted to present a special offer: Enjoy 30% off on the Best Available Rates and a complimentary breakfast to elevate your stay. Reserve your stay from May 1st to May 31st, 2024, and enjoy your experience during the same period.       Dubai Creek Harbour is an ultra-modern waterfront neighbourhood along the historic Dubai Creek, connected to the city’s main roads by…

During the first quarter of 2024 the Dubai real estate market witnessed significant growth across its residential and commercial sectors, as indicated by the latest data from the ValuStrat Price Index (VPI). The ValuStrat Price Index or the VPI, is a valuation-based price index constructed to represent periodic change in capital values and rental values experienced by typical residential and commercial properties. In the residential segment, the VPI for capital values surged by 6.4 per cent quarterly and 24.7 per cent annually, reaching 167.5 points, compared to the base of 100 points in Q1 2021. This growth was driven by a 5.7 per cent quarterly and 20.1 per cent annual increase in apartment valuations, propelled mainly by mid-affordable communities. Valuations of apartment units saw…

One Za’abeel, a mixed-use development and the latest landmark in Dubai’s Sheikh Zayed Road, the office tower, has commitments of over 50 per cent in terms of occupancy. Henry Mathews, director for leasing at One Za’abeel, said discussions are ongoing with multiple other tenants. Termed as ‘city within a city’ and the gateway to Dubai’s Central Business District, One Za’abeel is comprised of two skyscrapers, One Za’abeel Tower and One Za’abeel The Residences, which are dissected by The Link, a 230-metre cantilevered building suspended 100-metre above the ground. The iconic towers were developed by the Investment Corporation of Dubai (ICD). It houses Grade-A offices, attracting top firms with its unique dual licensing for both Dubai…

Swank Development, a real estate developer fro Portugal, has recently opened an office in Dubai, and plans to launch its first project in Meydan, Mohammad bin Rashid City. “Dubai is one of the top global destinations for business and living. It is the thriving economy, superior lifestyle, advanced infrastructure, as well as safety and security, that distinguishes it from other regional and global cities. The vision of the country’s leaders, coupled with strategic policies that are favorable for progress make this a perfect launchpad for us. Dubai’s continuous growth as one of the happiest and safest cities in the world and its ability to attract investors from around the world gives us the perfect canvas to develop urban spaces that reflect the essence of personalized…

Amali Properties, a boutique ultra-luxury property development firm in the UAE, has unveiled its first master-planned community, Amali Island, a collection of exclusive villas on The World Islands in Dubai. Nestled along the pristine shores of the Arabian Gulf, the 24 ultra-luxurious beachfront villas represent the epitome of bespoke opulence, offering residents a blend of sophistication, personalisation, and breathtaking natural beauty. Unveiling the project, the Emirati developer said Amali Island offers seven distinct architectural styles, allowing residents to craft their ideal beachfront home with unobstructed vistas of the sea, sky, and Palm Jumeirah. Spanning a total area of 1,200,000 sq ft. it links two of The World Islands (Uruguay & São Paolo) and each villa…

Sharjah Real Estate Registration Department on Tuesday said the number of transactions in central and eastern regions’ four areas of the emirate Al-Dhaid, Khor Fakkan, Dibba Al-Hisn, and Kalba reached 6,732, with a total area of 10.1 million square feet during the first quarter of 2024. It said the transaction value reached Dh332.4 million. “Over the past years, the real estate sector in the Central and Eastern regions witnessed a continuous development which offered promising opportunities. In addition, the two regions enjoy special attention of the government with the launch of many real estate development projects, especially in the tourism sector, which attracted investors within and outside UAE,” said Omar Al-Mansouri, director of the Branches Department at…

During the first quarter of 2024 the Dubai real estate market witnessed significant growth across its residential and commercial sectors, as indicated by the latest data from the ValuStrat Price Index (VPI).   The ValuStrat Price Index or the VPI, is a valuation-based price index constructed to represent periodic change in capital values and rental values experienced by typical residential and commercial properties.   In the residential segment, the VPI for capital values surged by 6.4 per cent quarterly and 24.7 per cent annually, reaching 167.5 points, compared to the base of 100 points in Q1 2021. This growth was driven by a 5.7 per cent quarterly and 20.1 per cent annual increase in apartment valuations, propelled mainly by mid-affordable communities.   Valuations…

Swank Development, a real estate developer fro Portugal, has recently opened an office in Dubai, and plans to launch its first project in Meydan, Mohammad bin Rashid City.   “Dubai is one of the top global destinations for business and living. It is the thriving economy, superior lifestyle, advanced infrastructure, as well as safety and security, that distinguishes it from other regional and global cities. The vision of the country’s leaders, coupled with strategic policies that are favorable for progress make this a perfect launchpad for us. Dubai’s continuous growth as one of the happiest and safest cities in the world and its ability to attract investors from around the world gives us the perfect canvas to develop urban spaces that reflect the essence of…

The UAE’s real estate market is expected to witness a slowdown in price increases, dropping by nearly 10% by the end of 2024, according to S&P Global Ratings.   Speaking at a media roundtable, Tatjana Lescova, Associate Director at S&P Global Ratings spoke about the outlook of the UAE’s real estate sector and the upcoming supply inventory that will impact the market.   “If you look at the real estate sector today, the first three months of the year [2024] saw double digit growth compared to last year and the prices are continuing to rise. So, we generally think prices will increase on a full-year basis at [the rate of] 5% to 7% this year,” she said. “But this also points towards a deceleration in growth because prices in 2023 increased…