LONDON - British property surveyors expect sales to continue to grow in the coming months after a gauge of house prices turned positive for the first time in nearly two years, though concerns remained about affordability despite easing borrowing costs. The Royal Institution of Chartered Surveyors said on Thursday that its main house price balance, which measures the difference between surveyors seeing falls and rises in house prices, moved into positive territory for the first time since October 2022. Its house price balance rose to +1 in August from -18 in July, and well above the -14 forecast by economists in a Reuters poll. A measure of expected sales over the next three months was the strongest since January 2020, before the COVID-19 pandemic struck Britain. Other indicators of…

Dubai’s real estate sector sees a positive outlook in the 2024/2025 business season, with strong sales figures, increasing property values, and the rapid absorption of new inventory expected to drive continued expansion. Analysts at Elite Merit Real Estate also project sustained growth in the overall UAE real estate market, underpinned by robust demand across multiple sectors, a significant influx of new property developments, and the integration of advanced technologies. This growth is expected to be supported by both domestic and international investors, reflecting the market's resilience and strategic importance in the region. Market performance and trends Dubai's real estate market is on track for another strong year in 2024, with record sales volumes and values. In July…

DUBAI - Dubai South Properties has announced the appointment of Al Turath Al Aseel Contracting for an AED150 million contract towards the construction of South Living Tower, a luxury apartment development at The Residential District in Dubai South. The project was launched in June this year with an attractive post-handover payment plan, following the huge demand for spacious apartments in Dubai South. The project is expected to be completed by Q1 2027 and will feature 209 units, including studios, 1-, 2-, and 3-bedroom apartments. Nabil Al Kindi, CEO of Dubai South Properties, said, "The demand for residential apartments at Dubai South has been steadily growing over the past few years. Following the announcement of the new passenger terminals at Al Maktoum International Airport in…

UAE - Sankari, a premier luxury real estate developer in Dubai, has announced a partnership with IHG Hotels & Resorts, one of the world’s leading hospitality companies, to launch the world’s first Regent Residences in Dubai. This twin-tower flagship development, Regent Residences Dubai - Sankari Place, will be located in Dubai’s prestigious Marasi Marina neighbourhood and will feature 63 full-floor upper luxury residences as well as 10 floating homes, said a statement. Expansive living spaces Each of the Regent Residences Dubai - Sankari Place's residences are equipped with a private swimming pool and expansive outdoor living spaces. The architectural design, conceived by Foster + Partners, reflects opulent living with a cascading twin-tower structure. Residents…

Dubai South Properties has appointed Al Turath Al Aseel Contracting for an AED150 million ($40.84 million) contract for the construction of South Living Tower, a luxury apartment development at the Residential District in Dubai South. The project was launched in June this year, with an attractive post-handover payment plan, following huge demand for spacious apartments at Dubai South, said the company. Expected to be completed by Q1 2027, the project will feature 209 spacious units, including studios, one-, two-, and three-bedroom apartments, as well as special-terraced units, offering a mix of indoor and outdoor living experiences. Project amenities include a swimming pool and deck area, state-of-the-art gymnasium, sauna, a versatile multi-purpose room, a kids’ library, a yoga…

The competition, launched in partnership with Dubai Design District (d3) and Dubai Culture and Arts Authority, offers outstanding prizes, including an apartment, Mercedes-Benz Car and more The judging panel includes esteemed public figures, industry experts and Hollywood celebrities (d3) will host workshops and panel discussions to raise awareness, help photographers fine-tune their skills and find inspiration through its architecture community Additional details were announced via Binghatti social platforms Leading Dubai property developer Binghatti, joins forces with Dubai Design District (d3), a global creative ecosystem, which is a member  of TECOM Group PJSC, and the Dubai Culture and Arts Authority (DCAA), to launch a high-rewards architectural photography competition…

The UAE has made significant strides in global real estate market transparency, with Dubai and Abu Dhabi securing a place among the top 5 improvers in the transparency score globally, according to JLL’s 2024 Global Real Estate Transparency Index (GRETI). Dubai earned the third spot, and Abu Dhabi secured the fifth position for improvements made from 2022-24 and have been recognised among the top global improvers for scaling digital capabilities, implementing strong anti-money laundering (AML) and beneficial ownership (BO) regulations, and increasing the availability of market data for established and start-up market providers, said the report. Dubai climbed one spot to reach the 28th position on the index in the 2024 edition, where it has retained its position as the only property…

The board members of Emaar The Economic City (EEC) approved a transformative business strategy in line with Saudi Vision 2030, according to a press release. This strategy covers a SAR 8.70 billion capital optimisation plan (COP) that includes restructuring of all of the company’s SAR 3.80 billion in bank debt facilities, the full conversion to share capital of SAR 4 billion of its debt owed to the Public Investment Fund (PIF), and a new convertible shareholder facility of up to SAR 1 billion from PIF. Developed based on extensive assessment and analysis over the past two years, the COP is expected to provide a comprehensive solution to stabilise the company’s financial and operational platforms and enhance its capital structure. It also backs Emaar The Economic City’s…

 Binghatti, the leading Dubai-based property brand launches the first project in Al Jaddaf this year, Binghatti Ghost. This highly anticipated development marks Binghatti’s comeback to the area driven by unprecedented demand from the market after a two-year hiatus.   The new project will feature a total of 770 residential units. In addition to these sought-after living spaces, Binghatti Ghost will also include six premium retail shops, enhancing the community's commercial appeal.   Historically, Binghatti’s properties have recorded substantial capital gains for investors, with the developer’s previous projects recording up to 40% capital gains for investors. Binghatti Ghost promises exceptional investment potential with high rental yields and a strong…

UAE -  Azizi Developments, a leading private developer in the UAE, has announced the completion of 40% construction of Beach Oasis, its vibrant mixed-use community located in Dubai Studio City. Beach Oasis is scheduled for handover in Q2 of 2025. The structural build has now reached 96%, while its blockwork, MEP, internal plastering, and HVAC have reached 50%, 19%, 14%, and 16% respectively, with the total workforce having been increased to 1,318. Comprising 476 studios, 200 one-bedroom homes, and 36 two-bedroom residences spread across two buildings, Beach Oasis is a modern low-rise residential community that also features an outstanding array of amenities, including a large beach-like swimming pool — the highlight of the project’s central courtyard — fully…

Samana Developers, one of the leading developers in Dubai, on Thursday made its debut in waterfront properties with the launch of two new projects worth Dh660 million ($179.69 million). Samana Ocean Pearl 1 and Samana Ocean Pearl 2 on Dubai Islands were sold out in just two hours, it said. Meanwhile, Samana Developers revealed it has purchased more plots on Dubai Islands and planned to unveil new projects in coming days to meet the demand. Set against the backdrop of the Arabian Gulf, Samana Ocean Pearl projects on Dubai Islands introduce a new set of waterfront living. Both projects, spanning 237,913.2 sq ft each, are thoughtfully designed and feature a selection of one-, two, three-bedroom apartments and four-bedroom penthouses. Each unit offers residents a private pool. Nakheel, the…

IMAN Developers, a leading Dubai-based luxury residential developer, has onboarded Versace Ceramics for One Sky Park, a landmark mixed-use development in Jumeirah Village Circle (JVC), using exclusive Versace Ceramics tiles in the community. With a total value of AED800 million ($217 million), One Sky Park will feature Versace Ceramics in apartments, lobby and common areas, elevating urban living by seamlessly blending fashion-forward design with luxury and functionality, a statement said. One Sky Park, featured by Versace Ceramic will be a distinctive addition to IMAN Developers' portfolio, offering a unique lifestyle centred around style and sophistication. The development comprises two iconic towers — Tower A and B with 26 and 37 floors respectively —each featuring a…