News

Dubai’s real estate market reached unprecedented heights in October 2024, with over 20,000 property units sold. This record-breaking surge, driven by off-plan and under-construction properties, underscores the city's appeal to both local and international investors. Key factors such as population growth, a robust project pipeline, and favorable interest rates continue to fuel this dynamic market.

Nakheel and DEWA have announced a strategic partnership to develop two substations on Palm Jebel Ali, a project valued at AED 270 million. This initiative will provide essential infrastructure to support luxury villas and underscores Dubai’s commitment to sustainable urban development. The substations will collectively offer a capacity of 400 MVA, ensuring robust power supply for the area’s expansive residential and leisure facilities.

The record-breaking sales figures of $38.7 billion in Q3 2024 illustrate the resilience and allure of the Dubai real estate market. With strong demand, increasing property values, and significant investments in new developments, Dubai continues to solidify its position as a premier destination for real estate investment. As the market evolves, stakeholders can anticipate further growth and diversification in this dynamic sector, reinforcing Dubai's status as a global hub for real estate.

Loutraki International invests AED 200 million in Dubai’s luxury real estate with the launch of Santorini Residences. This development, situated in Jumeirah Village Triangle, combines sophisticated design with eco-friendly practices, setting a new benchmark for sustainable luxury living.

Dubai's residential real estate market has soared to a historic $62 billion in sales for 2024, driven by robust investor confidence and dynamic off-plan investments. With substantial growth in both apartment and villa segments, the emirate solidifies its status as a premier global real estate destination.

Dubai is set to hand over a record 38,174 new homes in 2024, marking a significant expansion in its real estate sector. With robust growth and rising property values, the city continues to attract global investors. Key developments include Creek Views and Murroj Al Furjan West, reflecting Dubai's dynamic market.

Dubai's residential real estate market soared in Q2 2024 with 35,310 transactions, marking a 20.5% YoY increase. Key drivers include the popularity of customizable units and stable investment returns, attracting both local and international investors.

Acube Developments has unveiled Electra, a 38-floor residential tower in Dubai's Jumeirah Village Circle. Scheduled for completion by 2027, Electra promises over 50 theme park-style amenities and luxurious living spaces equipped with high-end appliances. This innovative project aims to redefine luxury living in the region.

Dubai's unprecedented rains may lead to increased property service charges, despite developers' efforts to mitigate damage with free services. This shift could impact future market dynamics, including insurance costs and overall affordability in the bustling real estate landscape.

The Dubai Real Estate Brokers Programme has seen over 1,000 Emirati citizens register, alongside forming 25 strategic private sector partnerships, marking a significant step in empowering local talent in the real estate industry.