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Saudi real estate rental deals up 81% to reach $20.2bn
Saudi Arabia’s residential and commercial rent deals almost doubled in value last year to reach SR76 billion ($20.2 billion) compared to SR41.9 billion in 2021.
Dubai prime property prices cheaper by 80% compared to global cities, even after 2-year rise
Prime property prices in Dubai are cheaper by 20 to 80 per cent when compared to major cities such as Monaco, Hong Kong, New York, London, Geneva, Paris, Beijing, Tokyo etc. despite a massive increase in rates during the post-pandemic period
Empower signs agreement with Sobha Realty
Emirates Central Cooling Systems Corporation PJSC (Empower), the world’s largest district cooling services provider, signed an agreement with Sobha Realty, one of UAE’s leading premium real estate developers, to provide environmentally district cooling services to the developer’s mixed-use projects, most notably the Sobha Hartland master community with a capacity of 17,000 refrigeration tons (RT).
Dar Global raring to go after listing on London Stock Exchange
Saudi real estate developer Dar Al Arkan has achieved great success over the years, but getting its global arm listed on the London Stock Exchange with a valuation of SR2.25 billion ($600 million) was certainly a milestone event, Dar Global’s CEO told Arab News in an interview.
Kuwait’s real estate market shrinks
The latest released data by the Ministry of Justice -Real Estate Registration & Authentications Department- indicates a decreased real estate market activity during February 2023 versus January 2023 (after excluding the crafts activity and the coastal strip system).
Dubai recordsDh12.9b in weeklong real estate transactions
A total of 3,332 real estate transactions worth Dh12.9 billion were conducted during the week ending 10th March, 2023, according to figures released by the Dubai Land Department (DLD).
Over half of Dubai property owners would sell their units this year, YouGov study shows
Almost two-thirds of Dubai property owners polled (64 per cent) plan to sell their respective unit to take advantage of current market conditions and 52 per cent would do so in the next 12 months in return for a good premium according to a YouGov survey commissioned by Metropolitan Homes, a new division of the Metropolitan Group focusing on Dubai's secondary market and catering to end-users, investors and wealthy asset owners.
Dubai outperforms global prime residential market in 2022
Dubai outperformed global prime residential markets in 2022 as capital values surged 12.4 per cent compared to 3.2 per cent average capital values across 30 major cities of the world, according to a latest report.
Why we need sustainable housing solutions for a better tomorrow
Along with food and clothing, shelter is one of the most immediate basic human needs. Amidst planetary challenges such as climate change, biodiversity loss and pollution, the world today also faces a double whammy of population growth – projected to reach 8.6 billion in 2030 and 9.8 billion by 2050 – and surging demand for housing and commercial properties.
Dubai records AED10.4 bn in weeklong real estate transactions
A total of 2,702. real estate transactions worth AED10.4 were conductd during the week ending 17 February 2023.
Metropolitan Capital Real Estate registers record full-year sales of Dh1.6 billion in Abu Dhabi
Abu Dhabi-based Metropolitan Capital Real Estate (MCRE), a full-service leading property company, has announced it has almost doubled its sales, registering record full-year sales of Dh1.6 billion compared to 2021.
Visa, labour reforms and tourism to drive Dubai realty in 2023
The Dubai’s real estate sector will sustain an upward growth this year as the investors and end-users will continue to pour money in the emirate’s residential segment sector amid strong believe in the bright prospects of the economy, experts say.
Sharjah records Dh2b real estate sales in January
Sharjah on Wednesday announced that the emirate consolidates its position as an attractive destination for property investors as it executed 2,999 real estate transactions worth Dh2 billion in January.
Saudi Arabia’s real estate plans leading the world in innovation
Setting the tone for the shape of things to come, 2023 began on a high note for the real estate industry with deals worth more than SR10 billion ($2.66 billion) signed on the opening day of the Real Estate Future Forum, which was held in Riyadh from Jan. 23-25.
Business Bay sees the highest number of real estate transactions in 2022
The Business Bay area recorded the highest number of real estate transactions in Dubai last year with 10,853 transactions, according to a statement by Dubai Media Office.
Real Estate Development Fund deposits $243m in Sakani accounts to further boost Saudi housing goals
Saudi Arabia’s Real Estate Development Fund deposited SR912 million ($243 million) in the accounts of Sakani beneficiaries in January 2023.
Dubai realty stands out with a double-digit price surge
Resisting the pressures of rising interest rates and inflation with two straight years of turbo-charged growth, Dubai remains a standout global property marketplace, having recorded a double-digit price surge for 2022, according to Property Monitor.
Saudi Aramco talks sustainable development at Real Estate Future Forum in Riyadh
Saudi Aramco highlighted its experience with sustainable development during the second edition of the Real Estate Future Forum in Riyadh, the Saudi Press Agency reported.
Real Estate Future Forum kicks off with $2.7bn worth of deals signed
Real estate deals worth more than SR10 billion ($2.66 billion) were signed on the opening day of an industry gathering in Saudi Arabia.
Real estate remains a major contributor to D33 agenda
Dubai real estate will be a major contributor to the goals of the Dubai Economic Agenda D33 and attract high net worth individuals and millionaires for investment in one of the growing economic sectors of the emirate, experts say.
Kuwait’s real estate sector could remain stagnant in 2023: Experts
The real estate sector in Kuwait will remain stagnant in 2023 due to lack of interest in private housing, investments, and speculation over land prices, said experts on Wednesday.
Half-a-trillion dirhams: Dubai reports record real estate transactions in 2022
Dubai's annual real estate transactions have crossed the milestone of half-a-trillion dirhams for the first time in 2022. The sector witnessed transactions worth a record Dh528 billion in 2022, a 76.5 per cent increase from 2021.
Dubai real estate transactions hit record high in 2022
Dubai recorded real estate transactions worth more than $143 billion in 2022, the official Dubai Media Office said Monday, calling it a “milestone” for the UAE’s main business hub.
Dubai real estate continues growth momentum with record transactions in 2022
The Dubai’s real estate sector continued its growth momentum in December to conclude the year on positive note as the residential rents and transactions hit record highs in 2022.
Dubai real estate continues growth momentum with record transactions in 2022
The Dubai’s real estate sector continued its growth momentum in December to conclude the year on positive note as the residential rents and transactions hit record highs in 2022.
Rent or buy? Top Dubai areas for apartments, villas revealed
Dubai has seen 97,400 real estate transactions worth a whopping Dh265.7 billion in 2022, with many residents and investors opting to buy property in the heart of the city.
Real estate activity in Saudi Arabia drops 53.7% during the first week of 2023
Saudi Arabia’s real estate activity has witnessed a 53.7 percent drop during the first week of 2023, as a result of weak liquidity flows due to the high interest rates.
ENCON3 to discuss housing projects, permit system
The opening ceremony of the 3rd Consulting Services for the Development Plan Forum (ENCON3) commences at 6.30 pm on January 10. Abzulaziz Al-Mojel, Minister of State for Municipal Affairs, patronizes the event.
Dubai real estate set for 46% growth in 2023, data show
Dubai’s booming real estate sector is set for further growth next year, with a projected growth of 46 per cent, recent research showed.
Dubai off-plan property launches reach a record, surpassing Dh28b in a month
As Dubai’s real estate industry expands after the pandemic, new off-plan launches and sales are on the rise and hit a record high in November.
Dubai records Dh9.2b real estate deals this week
Land deals at Palm Deira were among the top real estate transactions recorded in Dubai during the week ending December 16, data from the Dubai Palnd Department showed on Friday.
Dubai: Rental market records 27.3% increase this year
The Dubai rental market sustained strong double-digit growth this year in line with the real estate sector that continued its golden run throughout the year due to high demand from the investors and end users following drastic visa and business reforms.
‏Dubai records Dh91b real estate transactions for the week
A total of 3,186 real estate transactions valued at Dh91 billion were recorded in Dubai during the week ending December 9, 2022, the Dubai Land Department said in a report on Friday.
Rising Riyadh home prices push deals value up 6% but volume falls
As residential prices continue to rise in Saudi Arabia’s cities, the total transaction value of houses in the Kingdom has increased by 6 percent compared to this time last year, the latest report from global property consultancy firm Knight Frank showed.
Dubai property sales continue to surge in October
October witnessed another stellar month for Dubai’s booming real estate market. Latest data from Property Monitor show that property sale prices rose 1.77 per cent last month in the emirate.
Dubai: No impact of interest rate hike on property market, say industry executives
The increase in mortgage rates has not dented demand for properties in Dubai as only one-quarter of investors are opting for mortgages.
Dubai residential units supply unlikely to meet rising demand this year
The Dubai residential market is expected to see lower deliveries this year despite strong demand as rising construction costs and supply chain issues are impacting project delivery timelines and further increasing sales price, says a report.
Saudi Arabia's Dar Al Arkan signs deal with Trump family for Oman project
Saudi Arabian real estate developer Dar Al Arkan said it signed an agreement with former US President Donald Trump's company to use the Trump Brand for its $4 billion project in Oman that includes a golf course, hotel and villas.
Dubai property deals spike over 72% despite accelerating sale and rental rates
Dubai's real estate market continues to record growth in property deals, with the residential sector witnessing 8,269 transactions in October, registering a 72.5 percent increase from the prior year, global commercial real estate service provider CBRE said in its latest report.
Dubai records Dh8 billion in weekly real estate deals
A total of 2,703 real estate transactions worth Dh8 billion were conducted during the week ending October 21, 2022, according to data released by the Dubai Land Department (DLD).
Dubai records Dh8 billion in weekly real estate deals
A total of 2,703 real estate transactions worth Dh8 billion were conducted during the week ending October 21, 2022, according to data released by the Dubai Land Department (DLD).
Dubai tenants find it cheaper to stay in existing apartments as rents soar
Tenants in Dubai are increasingly opting to stay put and renew their existing apartments rather than moving to a new home following the surge in rents in the past year.
Saudi Arabia’s real estate price index up 1.5% in Q3 due to rise in residential rates
Saudi Arabia’s Real Estate Price Index increased by 1.5 percent in the third quarter of 2022 compared to the same period last year, primarily driven by an increase in residential properties, the latest data from General Authority for Statistics revealed.
Real estate fintech platform Stake raises $8m in pre-series A funding ahead of KSA debut
Stake, a Dubai-based digital real estate fintech platform, has raised $8 million in an oversubscribed pre-series A funding round, as it plans to debut in Saudi Arabia and Egypt in the first quarter of 2023.
KSA records 21% growth in residential real estate transactions in Q2: CBRE
Saudi Arabia recorded SR36 billion ($9.58 billion) worth of transactions in the residential real estate sector in the second quarter of 2022, recording a 21.4 percent increase over the same period last year, the latest market report by the global real estate adviser CBRE revealed.
Investors to repose trust on UAE real estate market with more investments
The government’s recent measures on real estate investment will increase market credibility, transparency and boost investor confidence in the growing sector, experts say.
Saudi developer Sumou signs $144m contract to develop residential units
Sumou Real Estate Co. has signed an agreement with National Housing Co. to build residential units for SR540 million ($144 million).
Saudi Real Estate Fund signs more than 58,000 financing contracts in first half
Saudi Arabia's Real Estate Development Fund signed more than 58,000 financing contracts, offering various financing and housing options for housing support programs throughout the Kingdom during the first half of this year.
Dubai real estate remains resilient with Dh21 billion transactions in July
Dubai real estate has once again proved its resilience by attracting record Dh21 billion investment through 7,092 sales deals in July, which is considered the best start for the second half of the year in the past 12 years.
Study to regulate expats’ ownership of real estate
A government team began an executive study to prepare a proposal that will allow expats living in the country to own real estate, expected to be presented to the new government that will be formed following National Assembly elections.
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