ABU DHABI: Aldar Properties (Aldar) has announced a partnership with Siemens to make Saadiyat Grove, an integrated mixed-use project under development in the cultural heart of Abu Dhabi, a leading global example of smart urban living. The agreement was signed today at the World Future Energy Summit (WFES) in Abu Dhabi.   Utilising the Siemens Xcelerator portfolio and its cloud-based Building X platform, Aldar will deploy the UAE’s first cloud-based smart district management system across the entirety of the Saadiyat Grove community. The project represents the most significant investment globally to date in smart technology at a mixed-use residential and commercial real estate development.   The system will include advanced energy analytics to support emission…

Egypt - Bold Routes, a leader in real estate consultancy, marketing, and brokerage, celebrated the end of the first quarter of this year with a significant milestone. The company proudly announced the opening of its 10th branch, a regional office strategically located in Dubai, the United Arab Emirates.   Regarded as one of the most successful and largest entities in its field in Egypt, Bold Routes stands out not only for its size but also for its unique business model. This model fosters a partnership with the company’s commercial franchisees, who are deemed as the company’s real, irreplaceable assets. Such an innovative approach has distinguished Bold Routes in the competitive market.   AbdelRahman Badr, the CEO of Bold Routes, remarked that the company’s…

According to Knight Frank, a global property consultant, 105 properties valued at more than $10 million were sold in Dubai in the first three months of this year, a 19% increase from Q1 2023.   Faisal Durrani, Partner – Head of Research, MENA, explained, “The level of deal activity in Dubai continues to strengthen, particularly at the top end of the market, where the near constant stream of international high-net-worth-individuals vying for the city’s most expensive homes persists.   “The laser-like focus of the global wealthy on Dubai is best reflected in the rapid deterioration in the volume of $10 million+ homes for sale, which has fallen by 59 percent across the city over the last 12 months to just 864 homes.”   Six percent more than…

According to Ahmed Baghoum, CEO of Masdar City, there are projects targeting vital industries like energy, artificial intelligence, space exploration, life sciences, and agriculture that are currently in the design phase and have an investment cost of Dh3–4 billion.   Speaking on the sidelines of the opening day of the World Future Energy Summit, which Abu Dhabi Future Energy Company (Masdar) is hosting, Bakhoum said that the projects currently being built at the city are expected to be worth a total of about Dh1 billion. These projects include “The Link,” which is expected to be completed in the middle of 2025, and the Masdar City Complex.   He stressed that Masdar City is currently focusing on vital sectors including energy, AI, space, the life sciences…

The number of luxury properties with a value of $10 million plus available for sale has dropped by more than half as more millionaires tend to make Dubai their home and fewer are willing to sell their assets.   “The laser-like focus of the global wealthy on Dubai is best reflected in the rapid drop in the volume of $10 million-plus homes for sale, which has fallen by 59 per cent across the city over the last 12 months to just 864 homes,” said Faisal Durrani, partner and head of research for Mena at Knight Frank.   In the post-pandemic period, there is more demand coming from the end-users and long-term investors for the Dubai property market on the back of confidence in the local economy and the government’s handling of Covid-19.   As reported by…

Dubai, a destination that showcases its natural beauty, is renowned for its architectural marvels, leisure attractions, and shopping malls. The city also boasts a diverse culinary scene and offers the opportunity to explore the secrets of its vast deserts. Immerse yourself in the romantic charm of Dubai by indulging in a variety of experiences with your loved one. From dining at some of the most enchanting restaurants to lounging on the city’s pristine beaches, watching the mesmerizing Dubai Fountain show, and taking a serene abra ride on Dubai Creek, there is no shortage of romantic activities to enjoy. One particularly noteworthy location is the Al Qudra Lake, also known as the Love Lakes. This picturesque spot is perfect for a romantic date or even a proposal, making it one of…

DUBAI - Sales of homes in Dubai worth $10 million or more rose 6% in the first quarter versus last year, an industry report showed on Tuesday, as demand from the international ultra-rich for homes in the emirate showed little sign of abating. A total of 105 homes worth an overall $1.73 billion were sold from January to March, up from around $1.6 billion a year earlier, according to property consultancy Knight Frank. Activity was dominated by cash buyers, with palm tree-shaped artificial island Palm Jumeirah the most sought-after area, accounting for 36.3% of sales by total value, followed by Jumeirah Bay Island and Dubai Hills Estate. Home to the world's tallest tower, the United Arab Emirates' Dubai is seeking to grow its economy through tourism, building a local financial centre and…

The number of luxury properties with a value of $10 million plus available for sale has dropped by more than half as more millionaires tend to make Dubai their home and fewer are willing to sell their assets. “The laser-like focus of the global wealthy on Dubai is best reflected in the rapid drop in the volume of $10 million-plus homes for sale, which has fallen by 59 per cent across the city over the last 12 months to just 864 homes,” said Faisal Durrani, partner and head of research for Mena at Knight Frank. In the post-pandemic period, there is more demand coming from the end-users and long-term investors for the Dubai property market on the back of confidence in the local economy and the government’s handling of Covid-19. As reported by Khaleej Times earlier,…

DUBAI - Sales of homes in Dubai worth $10 million or more rose 6% in the first quarter versus last year, an industry report showed on Tuesday, as demand from the international ultra-rich for homes in the emirate showed little sign of abating.   A total of 105 homes worth an overall $1.73 billion were sold from January to March, up from around $1.6 billion a year earlier, according to property consultancy Knight Frank.   Activity was dominated by cash buyers, with palm tree-shaped artificial island Palm Jumeirah the most sought-after area, accounting for 36.3% of sales by total value, followed by Jumeirah Bay Island and Dubai Hills Estate.   Home to the world's tallest tower, the United Arab Emirates' Dubai is seeking to grow its economy through tourism, building a…

At 160 meters high, the mixed-use Infinity Tower has seen more than 70% of its construction completed, according to Infinity Towers for Urban Development. This substantial advancement exceeds the timetable established by the Administrative Capital for Urban Development. This significant event coincides with the start of President Abdel Fattah Al-Sisi’s second term in office and the first phase of the New Administrative Capital (NAC). Infinity Tower, which stands in the center of the NAC’s Central Business District (CBD), is a shining example of sustainability and modernity. Founder and Managing Director Assaad Salama disclosed that the tower’s design was a result of cooperation with the well-known Canadian company NORR Group. This collaboration has produced a…

According to industry insiders and recent research, the first quarter of 2024 saw a significant shift in investment trends in Dubai’s residential real estate sector, with Indians once again overtaking British investors as the most popular nationality. Apart from Indians, Americans are also becoming interested in Dubai’s real estate market. They, along with other major investor groups like British and Russians, are driving up demand, which in turn is driving up property values and rentals, especially in the luxury market. Along with other reasons like rising end-user demand and alluring investment yields in Dubai’s housing sector, the 5-year multiple-visit visa facility is cited as the main driver of the Indian investment boom. “The 5-year multiple visit visa has…

According to recent research, the United Arab Emirates (UAE) is among the best places in the world for entrepreneurs to establish a startup company in 2024. Out of 52 countries analyzed, the UAE ranked third in Business Name Generator’s analysis, indicating that it is a desirable place for start-ups. Several variables, such as GDP growth forecasts, tax rates, cost of living, WiFi speeds, and happiness scores, were evaluated to identify the greatest locations for startup launches. “Entrepreneurs face many important decisions when launching or expanding their business, and choosing the right location is one of the most crucial. The location of a business can have a significant impact on its success, affecting access to resources, market demand, and…