Riding the crest of a property boom on the back of a remarkable surge in investment inflows through the first quarter, Dubai’s realty is projected to see a 24.6 per cent increase in high-net-worth individuals by 2025, “propelling the ultra-luxury segment to unprecedented heights”. In the first quarter, Dubai’s residential property market surged to $110 billion boosted by a 55 per cent surge in investment inflows, with 42 per cent of new investors hailing from international markets, Springfield Properties, a leading real estate brokerage in Dubai, said its Quarter 1, 2024 Market Insights Report. “Building upon the record-breaking achievements of 2023, Dubai’s residential market continued its upward trajectory in Q1 2024, with an impressive 37,134…

As Dubai became inundated with record-breaking rains, the city’s various authorities worked round the clock to ensure infrastructure was affected as little as possible and life resumed to business as usual quickly.   “It may take a few days for the city to return back to normal but recovery efforts have been good"   Dubai rains provide ‘opportunity to enhance emergency response systems’: Crown Prince   Here are 5 key things the city has done:   Roping in property developers to help   The Crown Prince of Dubai, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, directed the Dubai Land Department and the Real Estate Regulatory Agency to coordinate with property developers to expedite the restoration of…

Human-caused climate change is making extreme weather events like heat and rain more intense, frequent, and harder to predict. West Asia is forecast to face higher temperatures and a decline in overall rainfall, according to long-term scientific projections. But these very arid places will also experience storms that drop unprecedented rain according to researchers. This is forcing governments to consider whether to adapt to rare but destructive events—and how. “It’s a real tradeoff in thinking about the cost and the opportunity costs,” said Linda Shi, an assistant professor specializing in urban climate adaptation at Cornell University in the US. “These events are likely to be erratic and unpredictable.” The UAE was battered on April 16 by its…

Riding the crest of a property boom on the back of a remarkable surge in investment inflows through the first quarter, Dubai’s realty is projected to see a 24.6 per cent increase in high-net-worth individuals by 2025, “propelling the ultra-luxury segment to unprecedented heights”.   In the first quarter, Dubai’s residential property market surged to $110 billion boosted by a 55 per cent surge in investment inflows, with 42 per cent of new investors hailing from international markets, Springfield Properties, a leading real estate brokerage in Dubai, said its Quarter 1, 2024 Market Insights Report.   “Building upon the record-breaking achievements of 2023, Dubai’s residential market continued its upward trajectory in Q1 2024, with an…

UAE - Leading international property consultancy LH1 Global has annnounced that one of South East Asia’s most iconic buildings, The Sail, is set for launch next week in Malaysia.   A spectacular flagship project being developed by Sheng Tai International, The Sail will be unveiled at an exclusive event in Atelier M Lounge, Dubai Marina on April 24.   Reaching 325m at its tallest point, it will be larger than the Burj Al Arab and as high as the Eiffel Tower, and nine linked towers resembling a majestic ship fleet will make it one of the most recognisable buildings in the world, said the top consultancy.   The Sail will also be home to the first Karl Lagerfeld Hotel Tower and Branded Residences in South East Asia, and a first of its kind in Malaysia.   The…

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…

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…

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…

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…

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…