LONDON- Aviva, Legal & General and M&G are ramping up investments in rental homes in Britain, betting on long-term returns in a market where housing demand far outstrips supply, even though the country's new Labour government could impose tougher regulations. Institutional investment in Britain's rented housing sector is playing catch up, as it accounts for just 2% of the total rented stock, as opposed to more than 35% in Germany and the U.S., according to Savills. The rented sector - which includes student housing and retirement homes - has fared better than the wider commercial property market, which is facing tough conditions after a period of soaring borrowing costs and changing working patterns. "Investors are really keen on all these living sectors, it's a bit like the…

HONG KONG - Higher-for-longer interest costs and ample retail and office vacancies have pushed the sales of distressed investment properties in Hong Kong higher in the second quarter, a trend realtors expect to continue in an already tepid real estate market.   An increasing acceptance among lenders and landlords to book steeper losses has driven up the number of these deals in a market forecast to remain lacklustre due to the higher interest rates and falling rental income, realtors said. Distressed properties are either on the brink of foreclosure, already owned by a bank or have been repossessed by the mortgage lender. They could offer an attractive investment because of their usually relatively lower prices. Half of the 22 investment properties transacted in the second…

Cape Town's Northern Suburbs has been experiencing a significant squeeze in the rental market as demand for rental properties in areas like Durbanville, Bellville, and Brackenfell has skyrocketed in recent years, leading to a notable shortage of available stock and rising rental prices.According to Rowan Alexander, managing director of the Alexander Swart Property group, the shortage of available rental stock has led to a very competitive market where properties in good condition and realistically priced are often snapped up within days of being listed – if not sooner. “Agents are reporting multiple applications for each property, often on the day of listing, with potential tenants even offering above the asking rental price to secure a desirable…

Dar Global, the Dubai-based luxury property developer listed on the London Stock Exchange, has partnered with The Trump Organization to bring the Trump Tower to Jeddah skyline.   This project marks the second Trump collaboration following last week’s announcement of the Trump International Oman project within the AIDA development, a $500 million mixed-use real estate project. The Saudi project also marks the debut of the company in Jeddah, which has largely operated internationally as the global arm of Saudi Arabia’s biggest developer Dar Al Arkan. According to Dar Global, the Trump development aims to target the luxury Saudi market and international investors. Following its listing on the London Stock Exchange (LSE) last February, Dar Global currently has a portfolio…

The Diriyah Company said in a press release issued today that it has started the construction of a premium office development on Diriyah Square, further enhancing its diverse infrastructure offerings to the business community.   The five low-rise office buildings, designed with sustainability in mind, will offer nearly 39,000 square meters of gross leasable area (GLA), and a total gross floor area (GFA) of almost 47,000 square meters, as well as approximately 1,000 parking spaces and a kindergarten.   Reflecting the timeless principles of Najdi architecture, the facade of the buildings will embody Diriyah's 300-year heritage.   The construction will accommodate around 4,000 individuals, offering plenty of natural light, outdoor areas, and flexible…

Adrak Developers has announced a significant partnership with the Ministry of Housing & Urban Planning for the development of Neighborhood 12 D (NH 12 D), featuring over 300 high-end residential units spread across a land area of 56,166 sq m within Sultan Haitham City in Oman.   A mega development, Sultan Haitham City will come up on a 15-million-sq-m area, featuring 20,000 residential units along with key modern lifestyle amenities as well as ample green space.   The model of Sultan Haitham City features sustainable lifestyles embracing an architectural vision to accommodate all segments of society, giving them access to all social and recreational facilities and earning them a feeling of belonging.   The city will focus on 12 global standards on quality of life…

PRYPCO Blocks, the Dubai-based real estate fractional ownership platform, has marked a historic milestone by successfully funding its first property located in Bellevue Towers, Downtown Dubai.   The successful funding of Bellevue Towers, located in Downtown Dubai, underscores the remarkable confidence investors have placed in both the innovative concept of PRYPCO Blocks and the Dubai real estate market. A total of 209 investors from over 40 nationalities have so far invested in the property, with an average investment of AED 6,220.   Founded by Amira Sajwani, PRYPCO Blocks has made Dubai’s lucrative real estate market accessible to all. The platform divides an entire property into small, equal fractions, called ‘Blocks’, to enable real estate investments…

Global hospitality major Hilton has partnered with UAE lifestyle developer Al Hamra for the launch of its key project - Waldorf Astoria Residences Ras Al Khaimah - in the northern emirate. It is set to open in 2026. This landmark development marks the debut of the first Waldorf Astoria Residences as part of a managed resort in the UAE, setting a new benchmark for luxury living in the Northern Emirates, said a statement from Al Hamra. Located within the award-winning Waldorf Astoria Ras Al Khaimah resort, the branded residences will feature 43 exclusive luxury homes. The RAK developer said the project will redefine prestigious living, with thoughtfully curated furnishings, various private amenities, and signature residence owner benefits. The development’s palatial interiors are…

The real estate sector in Oman is experiencing steady growth, with trading volume in 2023 increasing 6%. This growth is expected to continue in the coming years owing to recent announcements of large projects, particularly Sultan Haitham City. The sector is expected to attract about 70% of the total foreign direct investment (FDI) in Oman in the coming years.   Data from the National Centre for Statistics and Information shows the total value of real estate trading in Oman was close to RO587.5mn in the first quarter of 2024.   Investments from Kuwait were the highest in 2023 amounting to RO26.7mn across 319 real estate deals. India followed with RO12.2mn in 70 transactions and United Arab Emirates investments worth RO5.3mn across 319 transactions.   Younis bin Khasib…

In the last couple of decades, the United Arab Emirates (UAE) has emerged as a beacon of innovation, prosperity, and opportunity, drawing millions of people from around the globe. Renowned for its world-class attractions, vibrant lifestyle, robust economic benefits, and progressive governmental initiatives, the UAE stands as a shining example of modernity and growth in the Middle East and beyond. One of the key indicators of the UAE's thriving tourism sector is the staggering number of visitors it welcomes every year. From January-February, 2024 alone, the country played host to over 3.67 million visitors as per Dubai Government Tourism Department, a testament to its enduring appeal as a global travel hub.   Against this backdrop of prosperity and promise, MetaHomes, one of the…

Abu Dhabi's property market recorded resilient growth in the first quarter as the UAE's capital city continues to attract global investors amid a surge in sales prices, particularly in upscale neighbourhoods.   Data from Bayut, a leading property portal in the UAE, shows that sales prices for luxury apartments and villas in popular neighbourhoods have increased by up to six per cent in the first quarter of 2024. Saadiyat Island has seen moderate price hikes, with luxury apartments experiencing a 3.64 per cent surge and premium villas witnessing a 5.53 per cent appreciation.   “The data analysis for the first quarter indicates a steady growth trajectory in Abu Dhabi's real estate market. The rise in property prices, transaction volume and total transaction value…

Dubai's real estate market continues to defy expectations, with the off plan sector experiencing a remarkable boom. Fueled by a burgeoning population and a flourishing tourism industry, demand for homes in Dubai is outpacing supply. Despite exceeding 60,000 unit completions in 2023, demand continues to outstrip supply, further cementing its status as one of the world's fastest-growing cities. This trend has propelled the off-plan market, a sector where properties are still under construction, to new heights.   Dubai has been a notable bright spot, benefiting from a flourishing tourism sector, with over 17 million visitors in 2023. This increased home demand and witnessed a sales value of Dh160.46 billion, a 72.3 per cent growth compared to the Dh93 billion sales values seen in…