Further Developers in Dubai have stepped up to help their communities after last week’s intense rains resulted in significant flooding, damage to cars, and destruction of property.   They promised to cover the cost of repairs for the impacted residents.   Private real estate developer MAG has pledged to assist its customers impacted by the recent heavy rains. “The company will cover all the costs of necessary repairs for affected residents, across its residential developments,” MAG said in a statement.   “In light of the unprecedented weather conditions experienced in the UAE earlier this week, it is incumbent upon us to stand by our customers during these challenging times. The resilience demonstrated by our residents, coupled with the…

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…

Danube Properties, the fastest-growing private real estate developer in the United Arab Emirates (UAE), becomes the first to launch a gym with Salman Khan’s ‘Being Strong Fitness Equipment’ range. Situated within its iconic 65-storeyed skyscraper named Diamondz at Jumeirah Lake Towers in Dubai, UAE; the most awaited gym is set to revolutionise the fitness experience for customers keen to enjoy a healthy lifestyle by following a quality fitness regime. Salman Khan’s Being Strong Fitness Equipment is meticulously designed, and this one-of-its-kind Danube gym is a part of Diamondz – the latest project by Danube Properties. The launch of Being Strong Equipment at Diamondz was attended by Salman Khan as the Chief Guest alongside other key dignitaries from the…

More Dubai developers have come forward to support their communities after torrential rains this week caused massive flooding and damage to vehicles and properties.   They assured to provide repairs to affected residents free of cost.   Private real estate developer MAG has pledged to assist its customers impacted by the recent heavy rains. “The company will cover all the costs of necessary repairs for affected residents, across its residential developments,” MAG said in a statement.   “In light of the unprecedented weather conditions experienced in the UAE earlier this week, it is incumbent upon us to stand by our customers during these challenging times. The resilience demonstrated by our residents, coupled with the supportive measures enacted by…

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…

In the wake of the weather conditions witnessed by Dubai and the United Arab Emirates in recent days, Damac Properties expressed its deep gratitude to the official authorities and government institutions for providing it with field support, to successfully deal with these exceptional weather conditions, which enabled it to address all problems and avoid serious damage, whether Whether financial or human, and ensuring the continuation of basic services for all residents in its various residential communities and projects, which include about 45,000 housing units. As a result of the proactive measures taken by the company in cooperation with its partners, stakeholders and contractors, including placing all work teams on high alert around the clock, Damac was able to successfully and highly…

Emaar Properties has affirmed its dedication to contributing to ensuring the well-being and safety of the residents of its complexes through the efforts of the company’s facilities management and complex management team, which has worked tirelessly around the clock to provide assistance to property owners that were damaged by weather conditions, since the heavy rains began on April 16. The team has actively addressed multiple challenges, including overcoming water accumulation problems, and continues to work tirelessly to find appropriate solutions. Based on this firm commitment, Emaar is pleased to announce an initiative to restore all homes within our communities that were affected by the recent severe weather conditions in Dubai, without bearing any costs on the…

According to Dubai Land Department (DLD) data, apartments in DAMAC Hills 2 are among the most frequently traded properties in the United Arab Emirates.   This master development, which spans 55 million square feet and is the brainchild of DAMAC Properties, the top developer in the UAE, offers residents and guests a lifestyle that blends leisure, recreation, and scenic beauty. It also offers a distinctive take on community living in Dubai. The community has a remarkable sales record of 11,806 units, which attests to its enduring appeal to those looking to buy real estate.   The increase in secondary market transactions is a key sign that DAMAC Hills 2 is becoming a more established end-user community. There is a strong demand for villas in the community, as evidenced by 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…

Egypt - Bold Routes, a leader in real estate consultancy, marketing, and brokerage, celebrated the end of the first quarter of this year with a significant milestone. The company proudly announced the opening of its 10th branch, a regional office strategically located in Dubai, the United Arab Emirates.   Regarded as one of the most successful and largest entities in its field in Egypt, Bold Routes stands out not only for its size but also for its unique business model. This model fosters a partnership with the company’s commercial franchisees, who are deemed as the company’s real, irreplaceable assets. Such an innovative approach has distinguished Bold Routes in the competitive market.   AbdelRahman Badr, the CEO of Bold Routes, remarked that the company’s…

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…