Swank Development, a real estate developer fro Portugal, has recently opened an office in Dubai, and plans to launch its first project in Meydan, Mohammad bin Rashid City.   “Dubai is one of the top global destinations for business and living. It is the thriving economy, superior lifestyle, advanced infrastructure, as well as safety and security, that distinguishes it from other regional and global cities. The vision of the country’s leaders, coupled with strategic policies that are favorable for progress make this a perfect launchpad for us. Dubai’s continuous growth as one of the happiest and safest cities in the world and its ability to attract investors from around the world gives us the perfect canvas to develop urban spaces that reflect the essence of…

The UAE’s real estate market is expected to witness a slowdown in price increases, dropping by nearly 10% by the end of 2024, according to S&P Global Ratings.   Speaking at a media roundtable, Tatjana Lescova, Associate Director at S&P Global Ratings spoke about the outlook of the UAE’s real estate sector and the upcoming supply inventory that will impact the market.   “If you look at the real estate sector today, the first three months of the year [2024] saw double digit growth compared to last year and the prices are continuing to rise. So, we generally think prices will increase on a full-year basis at [the rate of] 5% to 7% this year,” she said. “But this also points towards a deceleration in growth because prices in 2023 increased…

Leading urban planning and development company URB, based in Dubai, has proposed to develop a ground-breaking project that establishes new benchmarks for coastal regeneration in the city. Dubai Mangroves anticipates planting more than 100 million mangrove trees over a 72-kilometer stretch to improve Dubai’s coastline while combining ecological preservation with urban development. This proposal, which emphasizes urban resilience, biodiversity, and sustainable planning, is in line with the city’s environmental goals as well as the objectives of the Dubai 2040 Master Plan. At present, the project is in its research phase, with six pilot design studies proposed in specific areas. Every zone will function as an example of how various infrastructure components can coexist…

For many of the richest families and individuals worldwide, the Dubai International Financial Centre (DIFC) is a reliable, international hub.   DIFC has contributed to Dubai’s ranking as the top city in MEASA and among the top 22 cities worldwide in terms of the wealthiest populations. It is home to over 120 of the wealthiest families and individuals in the world, with combined net worths exceeding $1 trillion.   The World’s Wealthiest Cities Report 2023 states that over 68,500 HNWIs—those with at least $1 million in liquid assets—206 centi-millionaires—those with a net worth of at least $100 million—and 15 billionaires are among the population of Dubai.   Dubai family businesses With a workforce of over 41,500 and over 5,500…

    One Za’abeel, the iconic mixed-use development developed by ICD (Investment Corporation of Dubai), is pleased to announce the launch of The Offices, its ultra-luxurious dual licensed corporate office spaces in One Za’abeel Tower. The Grade-A offices are set to become Dubai’s ultimate business address, attracting global and local organisations alike with its unique dual licensing for both Dubai World Trade Centre Free Zone (DWTC FZ) registered companies and those registered under the mainland.   One Za’abeel is comprised of two skyscrapers, One Za’abeel Tower and One Za’abeel The Residences, which are dissected by The Link, a 230m cantilevered building suspended 100 meters above the ground. The unique shape of the mixed-use…

Jubail Island Investment Company (JIIC) has announced that it has achieved a major milestone in Abu Dhabi's real estate market with the handover of 44 residential units at the Nad Al Dhabi village - located within its AED15 billion ($4.1 billion) mega island development - to the first batch of homeowners. Nad Al Dhabi is one of six villages located within Jubail Island, offering residents access to a range of well-curated amenities and residential options. This village will see the addition of a community centre and dedicated mosque during the fourth quarter of this year. The community centre will include a majlis, a leisure pool, a gym, a room for fitness classes, a multi-purpose community space, an indoor kid’s playroom, a kid’s pool, a kid’s playground, several…

Global captive centers have been growing and changing at an astounding rate over the years. Global captive units have become a popular offshoring strategy in the Middle East. These divisions mainly provide IT support and back-office functions to their parent companies. For many multinational firms, outsourcing corporate operations to captive centers has proven to be an economical and successful business strategy. Businesses like Apple, Standard Chartered, General Electric, UBS, and American Express have been able to reduce costs associated with their back offices and concentrate more on their core competencies by taking advantage of lower-cost locations. Captive centers provide companies aiming to optimize their operations with opportunities for innovation and technological advancements,…

A report released by the Sharjah Real Estate Registration Department states that in March 2024, 2,606 real estate transactions totaling AED 3.1 billion were recorded in the Emirate of Sharjah, spanning 8.1 million square feet. The report indicated that 837 sales transactions accounted for 32.1 percent of the total number of transactions, 333 mortgage transactions totaling AED 1.1 million accounted for 12.8 percent, and 1,436 other transactions totaled 55.1 percent of the total number of transactions. The sales transactions occurred in 97 areas, which were spread across different cities and regions of Sharjah. These areas included 247 built-in land, 240 subdivided towers, and 350 vacant lands. These assets comprised agricultural, commercial, industrial, and residential areas. With 156…

Binghatti Hills is an architectural masterpiece that embodies the spirit of tranquility and luxury living in the Dubai Science Park area. It includes a wide range of studios and luxury one- and two-bedroom apartments.The project is located in Al Barsha South 2 and has easy access to Al Khail Road, Umm Suqeim Road, Dubai Miracle Garden as well as the Mall of the Emirates will be within easy reach. Enjoy living at its finest in the 40-storey high-rise building, which offers residents mesmerizing views of the sparkling oceans. The design of each residential unit was carefully chosen to ensure comfort, enjoyment and luxury in residents’ living. In addition, the project contains a variety of facilities and amenities that include a swimming pool with a jacuzzi, a cinema amphitheater, a…

Binghatti Hills is an architectural masterpiece that embodies the spirit of tranquility and luxury living in the Dubai Science Park area. It includes a wide range of studios and luxury one- and two-bedroom apartments.The project is located in Al Barsha South 2 and has easy access to Al Khail Road, Umm Suqeim Road, Dubai Miracle Garden as well as the Mall of the Emirates will be within easy reach. Enjoy living at its finest in the 40-storey high-rise building, which offers residents mesmerizing views of the sparkling oceans. The design of each residential unit was carefully chosen to ensure comfort, enjoyment and luxury in residents’ living. In addition, the project contains a variety of facilities and amenities that include a swimming pool with a jacuzzi, a cinema amphitheater, a…

Property prices and rentals in Dubai will continue to witness a rise until 2025 given that the population in the city is growing 300 per cent faster than fresh supply of properties in the first quarter of this year.   Real estate industry executives are extending their forecast for the three-year rally to next year as strong demand continues to outpace supply at a faster pace this year than estimated, especially after the UAE’s removal from the Financial Action Task Force’s (FATF) Grey List.   In February 2024, the UAE was removed from the FATF’s Grey List, which demonstrated the country’s transparency in financial transactions, hence, raising UAE’s profile among foreign investors.   Initially, the price rally seemed to be slowing down…

Reportage Properties, a leading UAE real estate developer, reported estimated sales at Dh2 billion since the beginning of the year until now.   Its sales exceeded Dh3.7 billion ($1 billion) during 2023, compared to Dh2.3 billion achieved during 2022, with a growth rate of 60 per cent.   Reportage Properties is organizing a special sales day at the Rosewood Abu Dhabi Hotel today.   The company is providing special offers on selected projects, including an offer of 10 per cent discount on all of their projects, with a 10 per cent down payment, and 1 per cent monthly installments until units handing off. There is also another offer that includes a 5 per cent discount, with a 5 per cent down payment, 1 per cent per monthly installments until unit hand off. The offer also…