The Palm Jebel Ali project developer disclosed on Monday that the first eight fronds should be site-ready by the first quarter of 2025. When completed, this will enable the start of the civil works and villa infrastructure. This came as Nakheel said it awarded a Dh810-million contract for marine works on Palm Jebel Ali. The company will assist in constructing villas throughout all fronds by handling...
One of the top real estate firms in the United Arab Emirates, AARK Developers, has announced the opening of Sora Beach Residences, a historic AED4 billion ($1.08 billion) development on Al Marjan Island in Ras Al Khaimah. According to the Emirati developer, Sora Beach Residences, which span 1.8 million square feet and offer direct access to a private 1,000-foot beach, are intended to offer an unmatched...
Short-term rentals are the latest trend driving the Dubai real estate sector The Dubai real estate sector is seeing a boom in short-term rentals, with a 30 per cent increase in demand compared to this time last year. Industry experts claim that the trend is revolutionising the region’s real estate scene, offering remarkable returns for savvy property owners, and attractive accommodation options to...
The Tecom Group has acquired new industrial and commercial real estate holdings in Dubai as part of a “strategic plan” worth Dh1.7 billion that was revealed in May of last year. This was carried out concurrently with the start of Innovation Hub Phase 3, an initiative to create Grade-A office spaces in Dubai Internet City valued at Dh340 million. With this, Tecom’s investments will have totaled...
A plot of land in the Business Bay area sold for Dh650 million at the start of trading on Tuesday, setting a record in the real estate market in Dubai. This historic transaction, which covers more than 333,000 square feet, is evidence of the real estate market’s ongoing strength and appeal in Dubai. Due to 494 transactions, the total value of real estate sales in Dubai has increased to Dh2 billion....
While this decision marks a significant step towards crypto adoption, it stops short of allowing full salary payments in digital currencies A recent UAE court decision has highlighted the growing acceptance of cryptocurrency in employment contracts, though full crypto salary payments remain restricted. The ruling, which ordered an employer to pay promised digital EcoWatt tokens as part of an...
What is drawing Non-Resident Indians (NRIs) to Dubai’s real estate market, and what should they know before investing? Experts weigh in Non-Resident Indians (NRIs) are increasingly focusing on the Dubai real estate market, drawn by the promise of tax-free returns and potential yields of up to 10 percent, experts told Arabian Business. With no limits on property purchases and opportunities...
Dubai is one of the few places in the world where the growth of the real estate market is accelerating. According to JLL’s Global Real Estate Perspective, a global real estate consultancy, the emirate is among the cities where the property market is growing the fastest, along with Bangkok, Berlin, Stockholm, Hong Kong, Jakarta, Paris, and Warsaw. Due in large part to the overwhelming interest shown...
The tower will have an NLA of 88,000 sqm, including a luxury hotel and residences; Also acquires ‘6 Falak’, a fully-occupied office building in Dubai Internet City Aldar Properties will develop a Grade A office tower in one of the most sought-after locations in Dubai, on Sheikh Zayed Road, beside the Dubai International Financial Centre (DIFC). It will be the company’s first commercial...
Middle East residential and commercial property development company Mira Developments has launched Mira Villas designed by Bentley Home: the world’s first villa community featuring Bentley Home-designed interiors. The launch, which was kicked off at the Bulgari Hotel, Dubai, in a glamorous event hosted by regional celebrity Enjy Kiwan and attended by more than 100 industry leaders, partners, and media...