Dubai developer Binghatti proudly announces the acquisition of a state-of-the-art steel manufacturing facility in Dubai. The newly acquired steel factory marks a significant milestone in Binghatti’s commitment to innovation and excellence in the real estate industry.   The facility will be equipped with cutting-edge technology and will serve as the primary hub for Binghatti's proficient in-house team of designers, architects, and manufacturing experts to transform ground-breaking architectural design into top-tier hyper-towers. Design structures including elements of the iconic crowns featured atop of Binghatti’s latest mega projects Burj Binghatti Jacob&Co Residences as well as Mercedes Benz Places | Binghatti are expected to be manufactured in the…

  "Muaayana"... the first service of its kind in Dubai freehold areas   “Muaayana” disclose defects in the residential unit before  hand -off and provides a comprehensive report that includes solutions   80% of real estate sales in Dubai are to people from outside the emirate        Walid Al Zarooni     Building Rank Group provides services in 7 Middle East markets   The company started business in the UAE 6 months ago and inspected 60 properties   The cost of service which ranges between 4-8 thousand dirhams , is affordable for real estate investors   Mohammed Wisam   Dubai, United Arab Emirates  Saturday, May 11, 2024   W Capital, a Dubai based…

Property prices in Dubai rose for the 15th consecutive quarter during the January-March 2024 period, mainly driven by affordable and mid-market communities. Analysts say that Discovery Gardens, Sports City and Dubailand apartments saw the highest increase in prices as demand from residents and foreign investors continued to keep the prices higher. The city is seeing villa owners renovating older units and reselling at notably higher prices to keep up with the demand. “There are no signs of capital values slowing down yet, with city-wide sales prices rising for the 15th consecutive quarter. City-wide sales prices are up by 20 per cent year-on-year and 66 per cent higher than the first quarter of 2020 (pre-Covid19),” said Prathyusha Gurrapu, director and head of research and…

After a couple years of pandemic-induced slowdown, Dubai’s commercial real estate market appears to be bouncing back with vigor. According to a recent report by leading real estate consultancy CBRE, leasing activity and investor interest gained significant momentum in the first quarter of 2024, signaling better times ahead for the emirate’s important property sector.   Dubai Commercial Property While overall economic growth slowed globally due to high inflation and geopolitical instability, Dubai has leveraged its strategic location and business-friendly environment to attract greater investment and talent. As a central hub connecting vital regions, the emirate is well-positioned to capitalize on trends like the redistribution of supply chains. This has boosted…

The introduction of innovative product offerings, attractive payment options and recent updates to the Golden Visa requirements continue to drive investor demand within the country’s residential market, according to JLL’s UAE Real Estate Market Overview for Q1 2024.   The residential market in Dubai experienced a strong start to the new year, with approximately 10,000 residential units completed throughout the first quarter, raising the total stock to 729,000 residential units. Over the remaining 9 months, an additional 25,000 residential units are scheduled for delivery in the emirate, primarily consisting of apartments located in prominent areas such as MBR City, Business Bay, Jumeirah Village and Dubai Land. In Abu Dhabi, there was a steady delivery of 1,600…

The continued buoyancy in Dubai’s residential market will see more than 35,000 new units delivered by the end of the year as innovative product offerings, attractive payment options and recent updates to the golden visa requirements continue to drive investor demand, a study by JLL said.   In the first quarter, around 10,000 units were delivered in Dubai and 1,600 in Abu Dhabi, demonstrating strong growth in the UAE’s residential sector as developers shift focus towards secondary locations, according to JLL’s UAE Real Estate Market Overview for Q1 2024.   “Dubai market recorded a strong start to the new year, with approximately 10,000 units completed throughout the first quarter, raising the total stock to 729,000 units. Over the remaining nine…

Many investors are demanding higher rates than earlier for their properties on sale in Dubai South and its vicinity, while many of them have decided to hold off the sales for the time being. Reason: The announcement of the relocation of the Dubai Airport (DXB) airport to Dubai South.   Industry executives said ever since the Dubai government announced the Al Maktoum International in Dubai South, many sellers have raised the price of their properties by to 25 per cent.   “I was in talks with an investor to buy a three-bedroom property in Dubai South for Dh1.6 million. But after the announcement of the airport, he jacked up the price to Dh1.8 million and then to Dh2 million. Investors who had put their properties on sale in Dubai South and its vicinity are having second…

Buying real estate in Dubai is not only an investment in one of the fastest growing and dynamic markets in the world, but also an opportunity to earn good money on resale.   Emirates legislation is the best in the world protects the rights of the buyer, and a mild tax climate (4% on the purchase and zero for ownership and profit) makes the country as attractive as possible for investors.   How to earn on real estate in Dubai? No changes in the laws of the country are not planned: this is exactly the stable base on which you can rely. And yet, how not to make a mistake, making the first steps in the market?   Choosing a property The first step is, of course, choosing the property itself. Analysts advise to start from the area, taking into account transport…

  The Dubai real estate market is a vibrant mosaic of opportunities and offerings where each segment has its own unique ambience, price points and benefits. In this city, which seems to have grown out of the desert through ambition and visionaryism, real estate becomes a reflection of the dream of luxury and success. Dubai Real Estate Market. Demand and prices on the rise The forecast for housing prices and demand for 2024 is based on last year's results. One thing that can be said is that the 2023 tourist peak of 17.2 million tourists can be overcome this year. Investments in this market attract investors from all over the world, let's consider it in detail. Luxury segment of Dubai This is not just housing, but a symbol of status, exclusivity and sophistication. Villas…

Damac Properties, an international real estate developer based in the United Arab Emirates, has announced opening new offices in Beijing and Singapore. The office openings signaled the brand’s push and significant investment and commitment to APAC, which coincide with its clear focus on expanding globally. With its headquarters in Dubai and having developed the largest private real estate portfolio in the United Arab Emirates since 1982, Damac has amassed an impressive and diverse portfolio that includes retail, fashion, capital markets, luxury real estate developments, and hospitality experiences. Damac announced in December 2023 about its intention to enter the Chinese market by relocating to Shanghai to take advantage of the increasing interest from Chinese HNWI and UHNWI…

The massive hotel chain Jumeirah unveiled a new visual brand identity on Tuesday, aligning with its goal of doubling its portfolio size by 2030. The group’s renowned Burj Al Arab Hotel hosted the unveiling of the new branding and logo, which was accompanied by a projection showing Jumeirah’s history. Jumeirah’s new brand identity revealed  Jumeirah announced several new properties in keeping with the new growth strategy, including Jumeirah Le Richemond in Switzerland, Jumeirah Marsa Al Arab, and Jumeirah Red Sea in Saudi Arabia. Micheal Grieve, Chief Brand Officer for Jumeirah said: “Jumeirah’s brand story is born from a rich heritage of hospitality, originating from a time when travellers to the region were offered shelter and the opportunity…

  Dubai is one of the 50 richest cities in the world and the wealthiest in the Middle East, with the number of millionaires surging by nearly 80% over the last decade, according to a new study.   The number of individuals living in Dubai with liquid investable wealth of $1 million or more surged by 78% to 72,500 between 2013 and 2023, according to the World’s Wealthiest Cities Report 2024 from Henley & Partners in collaboration with New World Wealth.   The city is also home to 212 centi-millionaires, or those with $100 million or more, and 15 billionaires.   Dubai takes the crown as the richest city in the region and the 21st wealthiest in the world, with a millionaire population larger than in major cities like Munich, Rome, Amsterdam, Osaka,…