Construction Week magazine, the specialized news platform for the construction and contracting sector in the Middle East, has ranked Andrea Nucera, Managing Director of Reportage Properties, on the 2024 list of the 150 most powerful and influential figures in the construction and building sector in the Middle East. Andrea Nucera is one of the prominent leaders in the real estate sector in the UAE and the region. He held his current position since Reportage Properties was established in 2014. Thanks to his extensive experience in the real estate field, Nucera led Reportage Properties to expand and launch many distinguished projects inside and outside the UAE, as Reportage Properties’ portfolio includes 35 projects in the Emirates, Egypt, Turkey, Morocco and Saudi Arabia. Recently,…

AJMAN - The Department of Land and Real Estate Regulation in Ajman will launch the building classification process in the emirate starting July 1st, 2024.   The process will continue for three months and will be carried out by a team of specialised and qualified professionals. This will closely examine the readiness of buildings and real estate facilities and their compliance with standards and regulations. Omar Al Muhairi, Director General of the Department, affirmed the criteria are ready to classify buildings according to international standards and specifications. This classification will ensure the quality of services, and facilitate investors regarding their investment decisions and options related to renting or purchasing any property in the emirate of Ajman. Al Muhairi…

Department of Land and Real Estate Regulation in Ajman completed 169 real estate valuation processes during May 2024 with a total value exceeding AED729.5 million. Ahmed Khalfan Al Shamsi, Director of Real Estate Registration, explained that the valuation covered commercial, residential, industrial, and agricultural units, with commercial property accounting for the largest share, AED437.2 million, up 197% compared to April 2024 and surpassing industrial properties, which had a total value of AED148.45 million.   Al Shamsi pointed out that the May report included individual valuation transactions, valuations for courts and institutions, and valuations for long-term golden residency visas for investors, which numbered 142 processes and exceeded AED334 million in total value,…

The Sharjah Investment and Development Authority (Shurooq) has announced the soft opening of the first phase of the "Najd Al Meqsar" project. Managed by the Sharjah Collection, this project stands as a premier luxury hospitality and heritage tourism destination in Khorfakkan, located in the eastern region of the Emirate of Sharjah.   Phase 1 of the project boasts features that promise an immersive and enriching experience for local guests and international visitors. Accommodations include 7 meticulously restored units within a house that is over 100 years old, each offering breathtaking mountain views. Situated on 17,210 m² offering a glimpse into the past alongside facilities and attractions, including a restaurant, reception area, and a trail to the iconic 300-year-old Al…

According to the “Real Estate Transactions Movement” report issued by Sharjah Real Estate Registration Department, the trading volume of real estate transactions in the emirate reached AED 4 billion during May 2024. It is a noticeable increase compared to the previous month (April), which recorded a trading volume of AED 1.7 billion, and this shows the constant monthly growth in this sector in Sharjah. The report also presented the total real estate transactions, which reached 9,454, with sales transactions covering 13.3 million square feet during the same period.   A perfect real estate environment Over the past years, the real estate market in Sharjah has witnessed a remarkable development and a continuous prosperity, making it at the heart of the real estate map in…

Arabian Hills Real Estate Development Company has proudly introduced its highly anticipated flagship project, Arabian Hills Estate. Situated along the road connecting Dubai and Al Ain, just a short 45-minute drive from the iconic Burj Khalifa area, this remarkable project boasts a total value of AED22 billion and spans 244 million square feet.     In line with the Abu Dhabi 2030 vision for sustainable development, Arabian Hills Estate is set to elevate the quality of life in the UAE capital. Envisioned as a fully integrated community, the project will embody the highest standards of sustainable design and living. Residents can look forward to a plethora of amenities including schools, medical services, and various entertainment facilities, catering to their every need.…

The world’s millionaires are poised to spend nearly $800 million on homes in Abu Dhabi and Ras Al Khaimah.     High-net-worth-individuals (HNWIs) from around the world are willing to buy $796.8 million worth of residential real estate in the two emirates, with those interested in Abu Dhabi ready to spend $408.3 million and those looking at Ras Al Khaimah expected to set aside $388.5 million, new research from Knight Frank revealed.   The report is based on a survey of 317 HNWIs – 217 around the world and 100 based in the Gulf Cooperation Council (GCC) region. The respondents have a combined net worth of $5.4 billion and own 1,149 homes around the world.   Abu Dhabi   Among the HNWIs, 40% have plans to buy a home in Abu Dhabi for investment…

The Abu Dhabi Real Estate Centre (Adrec) has announced that the sector has received record levels of foreign direct investment (FDI) with 487 individual investors injecting AED1.81 billion ($482 million) during the first quarter of 2024.   The custodian and regulator of Abu Dhabi’s real estate sector Adrec said these investors, from source markets including India, Russia, Canada, the UK, Jordan, and China, significantly increased their investments compared to the same period last year. "The performance of Abu Dhabi’s real estate market in the first three months of the year underscores the sector’s increasing appeal to international investors," Rashed Al Omaira, the Acting Director General at Adrec. "The robust growth on show offers encouraging signs for the…

224,000 sqm facility in KEZAD will enhance the emirate’s standing in the marine engineering industry       Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, and NMDC Energy, a subsidiary of National Marine Dredging Company (NMDC), today signed an agreement for the establishment of a new manufacturing facility in KEZAD.   The 50-year lease agreement signed at the Make It In The Emirates Forum 2024, will see NMDC Energy invest AED 367 million ($100 million) in a 224,000 sqm facility in KEZAD, designated for modular fabrication.       The project will offer several strategic benefits to the regional oil and gas sector including world-class engineering, procurement,…

Burtville Real Estate Development, a Development company in the UAE real estate sector, announces the ongoing progress of construction works on the “Ville 11” project, recently launched in Masdar City, Abu Dhabi. The project contains 111 residential units. According to the Abu Dhabi Municipality (ADM) on the Dari website, Burtville has completed 11% of the construction works on “Ville 11,” which began immediately after obtaining the necessary permits. This milestone demonstrates the company's commitment to adhering to the project timeline, with completion and unit handover scheduled for the third quarter of 2027. The steady progress on “Ville 11” enhances client confidence in Burtville’s projects and the broader Abu Dhabi real estate market. The…

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has inaugurated phase one of the North Bani Yas housing project, which comprises 1,365 new villas for UAE nationals, valued at AED3.1 billion.     Spanning an area of 3.1 square kilometres, the project falls under the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan.   H.H. Sheikh Khaled also named the wider project Al Mizn Neighbourhood. Spanning 9.06 square kilometres, the entire development will include 3,453 new villas, showcasing modern designs infused with Emirati heritage. The total investment value of the project is AED9.3 billion.   Ranging from five to six bedrooms, the villas occupy areas between 425 and…

 Reportage Properties, the leading UAE real estate developer, announced signing of an agreement with, the leading company in manufacturing furniture. The partnership created a new company, “IPS Reportage Construction and Development,” which will provide state-of-the-art services in construction and real estate development. The agreement was signed by Andrea Nucera, Managing Director of Reportage Properties, and Mohamed Farouk, Chairman and CEO of Mobica. The agreement aims to enhance cooperation to provide innovative solutions that improve the experience of Reportage customers and contribute to creating ideal work environments. Reportage Properties confirmed their interest in strengthening strategic partnerships with famous and distinguished companies working in the…