Several real estate agents were fined, and brokerage licenses were suspended for non-compliance with real estate rules and regulations in Abu Dhabi.   According to authorities, 50 fines were issued against brokers for violating real estate rules and regulations during the first quarter of this year.   These brokers were also penalised for unregistered project marketing, as well as failure to adhere to professional conduct.   In addition, the Abu Dhabi Real Estate Centre (ADREC) reported that seven real estate brokers were suspended from practising, and their brokerage office was fined Dh30,000 for failing to adhere to professional conduct.   The ADREC ensured that the authority prioritises lawful practices in line with their efforts to maintain the highest…

Alpago Properties, the premier real estate developer renowned for crafting a series of exclusive properties on the illustrious Billionaires Row of Palm Jumeirah, has announced the launch of its latest masterpiece, Kural Vista.   Unveiling the project, Alpago Properties said this beachfront signature villa represents the zenith of luxury living, uniquely combining breathtaking design, exceptional functionality, and the epitome of luxury amenities.   Set on a plot of over 15,000 sq ft with a built-up area of 12,554 sq ft, the villa spans multiple levels with five en-suite bedrooms, each featuring private walk-in closets and terraces that offer stunning views of the crystal-clear Arabian Gulf and the glittering Dubai skyline.   Located on the prestigious Frond G of the…

Leading UAE-based real estate entities Bloom Holding and Lead Development have announced a joint venture agreement with Spain’s high-end residential developer, Mabel Real Estate, a division of Mabel Capital, to co-develop a luxury residential project in the city of Marbella.   A high-end project - Mabel Marbella Residences - will span over 100,000 sqm of land in the coveted Golden Mile, a premier residential area in the Spanish city.   Marbella enjoys a robust real estate market paired with unparalleled climate and cultural richness. The demand for prime real estate in this coastal city is driven not only by international buyers but also by Spanish nationals seeking second homes.   Speaking at the launch, Bloom Holding CEO Carlos Wakim said: "This announcement…

Property prices in Dubai rose for the 15th consecutive quarter during the January-March 2024 period, mainly driven by affordable and mid-market communities.   Analysts say that Discovery Gardens, Sports City and Dubailand apartments saw the highest increase in prices as demand from residents and foreign investors continued to keep the prices higher.   The city is seeing villa owners renovating older units and reselling at notably higher prices to keep up with the demand.   “There are no signs of capital values slowing down yet, with city-wide sales prices rising for the 15th consecutive quarter. City-wide sales prices are up by 20 per cent year-on-year and 66 per cent higher than the first quarter of 2020 (pre-Covid19),” said Prathyusha Gurrapu, director…

Demand for office spaces is outstripping supply in Dubai and the emirate could well run out of Grade A office space next year.   With the inflow of foreign companies that are setting up regional headquarters in Dubai, many landlords and free zones are upgrading older office stocks to meet the growing demand and capitalise on higher rents.   Prathyusha Gurrapu, director and head of research and consultancy at Cushman & Wakefield Core, said developers and free zones are expected to initiate the next phase of office projects, however, no relief is expected until 2026 due to a minimum of a two-to three years' time for construction.   “As most of the upcoming Grade A supply is highly likely to be pre-leased, limited substantial new supply is expected to be…

 Dubai developer Binghatti proudly announces the acquisition of a state-of-the-art steel manufacturing facility in Dubai. The newly acquired steel factory marks a significant milestone in Binghatti’s commitment to innovation and excellence in the real estate industry.   The facility will be equipped with cutting-edge technology and will serve as the primary hub for Binghatti's proficient in-house team of designers, architects, and manufacturing experts to transform ground-breaking architectural design into top-tier hyper-towers. Design structures including elements of the iconic crowns featured atop of Binghatti’s latest mega projects Burj Binghatti Jacob&Co Residences as well as Mercedes Benz Places | Binghatti are expected to be manufactured in the…

  "Muaayana"... the first service of its kind in Dubai freehold areas   “Muaayana” disclose defects in the residential unit before  hand -off and provides a comprehensive report that includes solutions   80% of real estate sales in Dubai are to people from outside the emirate        Walid Al Zarooni     Building Rank Group provides services in 7 Middle East markets   The company started business in the UAE 6 months ago and inspected 60 properties   The cost of service which ranges between 4-8 thousand dirhams , is affordable for real estate investors   Mohammed Wisam   Dubai, United Arab Emirates  Saturday, May 11, 2024   W Capital, a Dubai based…

Property prices in Dubai rose for the 15th consecutive quarter during the January-March 2024 period, mainly driven by affordable and mid-market communities. Analysts say that Discovery Gardens, Sports City and Dubailand apartments saw the highest increase in prices as demand from residents and foreign investors continued to keep the prices higher. The city is seeing villa owners renovating older units and reselling at notably higher prices to keep up with the demand. “There are no signs of capital values slowing down yet, with city-wide sales prices rising for the 15th consecutive quarter. City-wide sales prices are up by 20 per cent year-on-year and 66 per cent higher than the first quarter of 2020 (pre-Covid19),” said Prathyusha Gurrapu, director and head of research and…

After a couple years of pandemic-induced slowdown, Dubai’s commercial real estate market appears to be bouncing back with vigor. According to a recent report by leading real estate consultancy CBRE, leasing activity and investor interest gained significant momentum in the first quarter of 2024, signaling better times ahead for the emirate’s important property sector.   Dubai Commercial Property While overall economic growth slowed globally due to high inflation and geopolitical instability, Dubai has leveraged its strategic location and business-friendly environment to attract greater investment and talent. As a central hub connecting vital regions, the emirate is well-positioned to capitalize on trends like the redistribution of supply chains. This has boosted…

The introduction of innovative product offerings, attractive payment options and recent updates to the Golden Visa requirements continue to drive investor demand within the country’s residential market, according to JLL’s UAE Real Estate Market Overview for Q1 2024.   The residential market in Dubai experienced a strong start to the new year, with approximately 10,000 residential units completed throughout the first quarter, raising the total stock to 729,000 residential units. Over the remaining 9 months, an additional 25,000 residential units are scheduled for delivery in the emirate, primarily consisting of apartments located in prominent areas such as MBR City, Business Bay, Jumeirah Village and Dubai Land. In Abu Dhabi, there was a steady delivery of 1,600…

The continued buoyancy in Dubai’s residential market will see more than 35,000 new units delivered by the end of the year as innovative product offerings, attractive payment options and recent updates to the golden visa requirements continue to drive investor demand, a study by JLL said.   In the first quarter, around 10,000 units were delivered in Dubai and 1,600 in Abu Dhabi, demonstrating strong growth in the UAE’s residential sector as developers shift focus towards secondary locations, according to JLL’s UAE Real Estate Market Overview for Q1 2024.   “Dubai market recorded a strong start to the new year, with approximately 10,000 units completed throughout the first quarter, raising the total stock to 729,000 units. Over the remaining nine…

Many investors are demanding higher rates than earlier for their properties on sale in Dubai South and its vicinity, while many of them have decided to hold off the sales for the time being. Reason: The announcement of the relocation of the Dubai Airport (DXB) airport to Dubai South.   Industry executives said ever since the Dubai government announced the Al Maktoum International in Dubai South, many sellers have raised the price of their properties by to 25 per cent.   “I was in talks with an investor to buy a three-bedroom property in Dubai South for Dh1.6 million. But after the announcement of the airport, he jacked up the price to Dh1.8 million and then to Dh2 million. Investors who had put their properties on sale in Dubai South and its vicinity are having second…