As an emerging real estate agent in Dubai, Jeff Kuruvilla recalls standing in a queue, waiting for the launch of the Mudon project in 2016 for a staggering 36 hours. "I got lucky that day because my client bought four properties, but the wait for that project was absolutely agonising," said Kuruvilla. Even though things have changed a lot since 2016, some property developers keep agents queuing up for several hours outside their offices for prestigious launches. The latest one for the launch of the Dubai Island project villas saw extremely long queues that lasted for hours. Videos shared on social media show how agents rush into the offices once the gates open, resulting in chaos and many failing to secure units. Now, many experts are calling on developers to do away with long queues…

Launched on Thursday, La Maison Amal is a new super-prime residential project in Dubai’s Al Barari neighborhood that focuses on wellness. This move is expected to cause a stir in the real estate market of the emirate. The five-bedroom home is praised for its ability to combine luxury living with peace, quiet, and well-being. The CEO and founder of Maria Morris Real Estate, Maria Morris, stated that La Maison Amal was introduced in response to the changing needs of contemporary UHNW purchasers who seek experiences beyond conventional luxury. “Recognising the shift towards wellness post-COVID, this [La Maison Amal] home sets a new standard in the world of ultra-luxury living, where every square foot is an embodiment of wellness and health-conscious living, ” he…

Sheikh Zayed Housing Programme has announced that 4,334 decisions were made in 2023 valued at AED3.34 billion. These included 3,015 housing finance decisions at AED2,380,551,000 and 1,025 housing grants at AED682,300,000.   Mohammed Al Mansoori, Director-General of Sheikh Zayed Housing Programme, said that active loan decisions amount to AED17.502 billion, at 90.6%, while the percentage of closed loan files is 9.4%.   Since its establishment in 1999, Sheikh Zayed Housing Programme has committed to enhancing citizens' well-being and the quality of life for Emirati families through sustainable housing solutions. Owing to the future-oriented vision of wise leadership, the Programme has made notable achievements that have touched the lives of thousands of…

In what seems like taking a leaf out of residents’ book, several local and regional companies in Dubai are increasingly making a shift from renting to owning properties amid rising rentals.   This is similar to the trend prevalent among Dubai residents who for the past few years are keen on buying properties in a bid to beat the rising rentals. In fact, this trend has been one of the key drivers of Dubai’s residential property market in the post-pandemic period.   Real estate industry analysts say the trend of companies looking to own properties rather than renting is prevalent in both office and industrial sectors.   Robert Thomas, head of agency at Cushman & Wakefield Core, said: “We particularly see local entities who know that their growth…

A significant 40 per cent of property sales in Dubai this year have gone to home seekers are looking to buy villas, a new report showed.   Property Finder’s recent 2024 data has unveiled that out of this 40 per cent, 85 per cent are looking for three bedroom and above villas. Leading the demand in early 2024 are areas like Dubai Hills Estate, Al Furjan, Arabian Ranches, Palm Jumeirah and Mohammed Bin Rashid City, data showed.     According to Property Finder, four key factors are driving this surge:   Young blood, big dreams: A wave of youthful enthusiasm is sweeping the villa ownership scene, with 39 per cent of buyers under 40 years old in Q1 2024 compared to just 31 per cent during Q1 2023. Influenced by the upward trajectory of rental prices, savvy…

: Forbes Middle East has revealed its ‘Most Impactful Real Estate Leaders’ ranking, spotlighting the 100 innovation-driven regional developers building for the future. The ranking was developed based on the company’s financials, the value of projects completed, projects under construction, the reputation of project delivery, and the size of the landbank and units held by the developer.   Mohamed Alabbar, Founder and Managing Director of Emaar Properties in the U.A.E. topped the list, with total assets of $37.3 billion as of the end of September 2023. Emaar Properties is one of the largest publicly-listed real estate companies by assets in the GCC. Talal Al Dhiyebi, Group CEO of Abu Dhabi-based Aldar Properties placed second, with $19.3 billion total assets as of…

According to experts, the DUBAI real estate market will keep growing this year after getting off to a great start in the first quarter as buyers of residential properties in the emirate continue to pour money into the market.   According to recent data, the residential market in the emirate experienced strong double-digit growth in both transaction volume and value during the January–March 2024 quarter, indicating that it has maintained its appeal.   Strong demand and a gradual increase in the emirate’s population in the coming years will cause the market, which is predicted to post over Dh100 billion in sales through more than 30,000 transactions in the first quarter, to sustain steady price and transaction increases throughout the year.   In the first…

The residential real estate market in Dubai has demonstrated growth and resilience; the most recent data from ValuStrat shows notable increases in capital values in several different segments. The Dubai Residential Capital Values Price Index (VPI) saw a strong annual increase of 23.1 percent, reaching 164.1 points, with a monthly uptick of 2.1 percent, according to the February 2024 report from ValuStrat. According to the report, this increase in value is a reflection of the ongoing demand and investor confidence in the real estate market in the Emirate. The report also identified a noteworthy trend: compared to the prior year, capital gains for highly sought-after villas increased by an astounding 28%, with growth rates even higher in some areas like the Jumeirah Islands and Palm…

Reportage Properties, the leading UAE real estate developer, is holding a special sales day and a suhoor evening, at the Ritz-Carlton Abu Dhabi, Grand Canal, next Saturday, March 30. The company is making special offers on local and international projects, with a special Ramadan night. The “Reportage Properties” portfolio includes 33 projects in the UAE, Egypt, Turkey, Morocco and Saudi Arabia . Reportage confirmed their interest in  providing more special offers and discounts on all projects, in a way that meets the aspirations of buyers and investors, whether inside or outside the UAE, which enhances the company’s sales in all local and global projects. “Reportage Properties” sales topped AED3.7bn ($1 billion) during 2023, compared to AED2.3bn…