*Q2  2024 sales increased 37% to AED124.4bn Dubai real estate unprecedented sales in Q2 indicate that the market is close to repeating the recorded peak of 2009, according to real estate consultant, Tariq Al Shehhi. Al Shehhi stated that real estate sales in Dubai reached record numbers in terms of volume and value, as the total number of transactions exceeded 43,000 deals in the second quarter of this year, an increase of 45% compared to the second quarter of 2023. The Q2 value of transactions increased by 37% topping AED124.4bn. Sales reached a new peak, exceeding the previous one recorded in the first quarter of 2024 by 17%, while the value of sales exceeded the previous peak recorded in the fourth quarter of 2023 by 2%.  “During the second quarter of 2024,…

DUBAI: In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, issued Decree No. (44) of 2024, promoting Marwan Ahmed bin Ghalita, CEO of the Real Estate Regulatory Agency, and appointing him as Director-General of the Dubai Land Department.   The Decree is effective from its date of issuance and will be published in the Official Gazette.

Dubai-based Emaar Properties has announced that it had recorded remarkable progress during the first half with 30 launches successfully completed resulting in the sale of 8,400 units, up 56% over last year.   Celebrating the key achievements at its mid-year internal staff rally, Emaar’s leadership reviewed and shared the company’s operational performance and way forward. During the rally, Emaar presented significant milestones and achievements across all areas of its operations. Commenting on the company’s H1 performance, Founder Mohamed Alabbar said: "This shows Emaar’s relentless pursuit of excellence and innovation. We are not just managing businesses; we are shaping legacies and transforming communities for a prosperous future." Some of the highlights…

One Za’abeel, the iconic landmark developed by ICD (Investment Corporation of Dubai), proudly celebrates two Awards Of Excellence presented by the Council on Tall Buildings and Urban Habitat (CTBUH). The development received recognition in 2 categories, ranking it favourably against hundreds of the most prestigious and outstanding projects globally in the architecture, engineering, and construction (AEC) industry.   Regarded as one of the most prestigious international awards programs, CTBUH Annual Awards program recognises projects that make extraordinary contributions to the advancement of tall buildings. One Za’abeel is a winner of the Award of Excellence under the category of “Best Tall Building in the Middle East & Africa 2024” and the category of…

W Capital, a Dubai leading real estate brokerage, signed a cooperation agreement with Mohammed Al Hashimi Advocates and Legal Consultants, with the aim of providing the best legal guidance and consultations to W Capital clients who try to purchase real estate. W Capital CEO, Walid Al Zarooni, signed the agreement with Mohammed Al Hashimi Advocates and Legal Consultants partner, Omar Al Awadhi.  “We are pleased to provide a new service to W Capital clients in cooperation with Mohammed Al Hashimi Advocates and Legal Consultants, with the aim of providing a lawyer accompany the client in all the legal procedures necessary to purchase the property,” said Walid Al Zarooni. The CEO noted that after going through all the procedures for purchasing a property in Dubai, from the…

The hotel brings Spanish charm under the IHG Vignette collection to Dubai, and features its own coral reefs and a kilometre long raining street. Visitors can enjoy authentic Spanish cuisines at its six restaurants, indulge in wellness at The Arabian Spa, and even take a break in its snow plaza adding to the charm and allure of their stay  Kleindienst Group, a leading global business conglomerate and master developer behind The Heart of Europe, announced the launch of Marbella Resort Hotel, Vignette Collection by IHG Hotels and Resorts, on the World Islands, Dubai. The AED 1 billion five-star hotel draws inspiration from the architectural marvels of the Spanish resort town of Marbella, and is poised to bring the complete Costa Del Sol experience to the UAE with its distinct…

UAE-based Majid Al Futtaim has announced a major milestone with the sell-out success of the first phase of its Ghaf Woods, the first forest living community in the heart of Dubai and its newest development in the emirate.     Spanning 738,000 sq m of land near Global Village, Ghaf Woods boasts more than 7,000 premium units with one-, two- and three-bedrooms, as well as penthouses, overseeing pristine views of the forest ecosystem.   According to Majid Al Futtaim, the recent sell-out of the development’s first phase, consisting of 1,000 units, underscores the high demand for living in a natural environment.   Inspired by the principles of Nature Positive, a global model that aims to increase nature and green areas by 2030 compared to 2020, this initiative…

DHG Properties, a leading real estate development company operating within DHG Holding, noted that price growth in Dubai’s residential market accelerated with a notable increase from 20.30% in February 2024 to 20.70% last March.     Property prices in the Emirate are expected to rise by 5% to 7% annually in 2024 and 2025, driven by surging demand that far outstrips available supply.   This positive momentum is evidenced by the significant activity in the off-plan market which dominated 65.84% of total market transactions, valued at AED 1.35 billion out of a total transaction value of AED 2.10 billion.   Meanwhile, the ready properties represent the remaining 34.16% amounting to AED 703.70 million.   Blagoje Antić, Founder and Chairman of DHG…

Refine, a pioneering real estate development and management company, is leading the charge when it comes to empowering investors and developers to enter the market with confidence. Founded on the game-changing, first-of-its-kind Development as a Service (Daas) concept, Refine offers investors the chance to harness generations of real-estate expertise and the power of Refine’s fully-fledged team and network, eliminating the need to build their own infrastructure.   Spearheaded by Thomas Wan, a second-generation entrepreneur and Managing Partner at Refine, the company is redefining how investors and developers enter the market, and has already achieved a management portfolio in excess of AED 7 billion, since it was established in 2021.   "Refine is committed to…

In the heart of Palm Jumeirah, the Marina Residences shine with elegance and distinction, comprising 6 glittering buildings spanning 15 floors each, with breathtaking views of the area's waterfront. Marina Residences combines luxury and convenience, making it an ideal place to live and invest in the heart of Dubai. Its proximity to The Palm Mall, the city's newest upscale mall, enhances its appeal among residents and investors alike. The residences feature a variety of residential units ranging from one-bedroom apartments to spacious five-bedroom apartments, with luxurious recreational facilities including sports centers, swimming pools, saunas and steam rooms to add a touch of relaxation to residents' lives. In addition, security, protection, and regular maintenance services ensure…

Eagles Developments has launched its inaugural project in Sheikh Zayed City, investing EGP 2bn. The project, named VIA, covers a 16,000 sqm area. Raafat Fangary, Chairperson of Eagles Developments, emphasized that this project marks the beginning of the company’s expansion plan across the republic. With a diverse real estate portfolio exceeding EGP 5bn, Eagles Developments is actively exploring investment opportunities in the real estate market. The project will unfold in two phases. The first phase, spanning 8,000 sqm, involves EGP 1bn in investments and includes 100 residential units (occupying 22% of the total area). Construction is set to be completed by December 2027. Sheikh Zayed City was strategically chosen due to high demand and client interest. Eagles Developments…

Dubai recorded the highest volume and value of transactions ever in the second quarter (Q2), with the total number hitting 43,522, an increase by 45% compared to Q2 2023. The value of transactions increased by 37%, totalling AED124.4 billion ($33.9 billion), according to Property Finder, Mena’s leading property portal. Market volume peaked, surpassing the previous high achieved in Q1 2024 by 17%, while transaction values exceeded the previous peak recorded in Q4 2023 by 2%. On the other hand, Abu Dhabi saw over 2,489 transactions with values reaching almost AED6.7 billion. In Abu Dhabi, existing properties have shown a YoY increase of approximately 41% in volume with around 1,166 transactions in Q2 2024. The value of these transactions increased by 42% YoY, touching AED3.8…