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Abu Dhabi residential sector achieves record growth in 2023, says report
ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total of 11,200 units were sold across the capital, up 83 percent y-o-y. The increase in demand for residences has been driven by several positive initiatives and announcements by the government,...
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Aldar Properties awards contracts worth US$2.8bn
ABU DHABI, UAE - Aldar Properties has announced the awarding of 49 contracts, totaling US$5.9 billion (AED22 billion), for a series of projects, including infrastructure, residential, commercial and mixed-use developments across Abu Dhabi in 2023. The contracts were awarded to 36 UAE-based companies with almost 50 percent of the value... -
Saudi Arabia’s real estate deals fall 11 percent in 2023: Ministry
Riyadh, Saudi Arabia -- The value of Saudi Arabia's real estate transactions fell year-on-year by 11 percent to nearly SAR 193.45 billion ($51.58 billion) in 2023, Ministry of Justice data showed. The number of real estate transactions reached around 172,070 by the end of 2023, while the total number of... -
Alef Group announces US$84m sales transaction at ACRES 2024
SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant demand and securing approximately US$84 million (AED310 million) in sales transactions for its residential projects. CEO of Alef Group Issa Ataya said, “ACRES was a good opportunity to connect with... -
Dubai’s top 10 land deals in 2023 is worth US$2.3bn
DUBAI, UAE – A real estate brokerage based here has compiled the 10 largest land deals in the Emirate since the beginning of this year, with a total value of US$2.3 billion (Dhs8.6 billion). The study based on data from the Dubai Land Department showed that the largest land sale... -
Aldar Estates buys FAB Properties
Aldar Estates will benefit from a stable growth pipeline. -
Qatar real estate trading crosses $143m in August 27-31 2023
DOHA, QATAR - The volume of real estate trading in non-residential sales contracts at the Department of Real Estate Registration at the country’s Ministry of Justice from August 27 to August 31, 2023, reached US$ 68 million (QR 250,159,704). The total sales contracts for residential units in the Real Estate... -
Tourism, state spending spur real estate in KSA, UAE
Property markets benefit as an increased demand for tourists and the rise in government spending on infrastructure projects drive the post-pandemic recovery in the region. -
Realty growth in Saudi Arabia, UAE to build on strong private sector and robust spending via govt initiatives
While 2022 saw record levels of demand for commercial office space as a result of ‘Programme HQ’, 2023 looks set to be dominated by the delivery of high quality residential-led mixed use schemes and a continued focus on tourism, leisure and entertainment projects, adds Burch, Partner and Head of Real... -
Azizi sells 35% Creek Views II units
The 587-residence project is scheduled for handover by Q4. -
UAE leads GCC with 48% share in realty transactions
In the first nine months of 2022, real estate transactions in the region totaled more than US$143bn, surpassing the full-year US$136.9bn figure during 2021, says Kamco Invest. -
Residential properties in UAE remain key attraction for international real estate investors
Experts attribute the main reasons for the increase in the real estate demand to the UAE government's numerous initiatives and the high income level of investors. -
Dubai to provide 2,000 residential plots at Umm Nahad Fourth
The Higher Committee for Development and Citizens Affairs, chaired by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, approved immediate allocation of 2,000 residential plots at Umm Nahad Fourth area. -
Al Hamra to launch $270m project
The villa project is located within the Al Hamra Village residential community. -
Service fees of real estate owners, investors reduced in UAE
The UAE's Department of Municipalities and Transport (DMT) said that service fees for real estate units’ owners and investors in development projects were reduced by 26.4 percent during 2020 and 2021. In 2020, the service charges were reduced by 18.1 percent, with another 8.3 percent reduction introduced in 2021. The... -
Saudi Arabia and UAE drive real estate growth in the region
Saudi Arabia and the UAE are driving the real estate market in the Middle East region with the backing of government and evolving market dynamics. -
Residential areas in focus as real estate prices surge in Kuwait
The real estate housing price rose in Kuwait last year, where investors focused on Kuwaitis' residential areas dealing in uninhabited plots of land, capitalizing on government subsidies and transforming residential units into rental houses. In 2022, the housing rates may drop by five percent if interest rates are increased on... -
Q3 real estate transactions worth $1.55 billion recorded in Sharjah
Real estate transactions worth AED5.7 billion ($1.55 billion) were recorded in Sharjah during the third quarter of 2021, an increase of 22.7 percent compared to the same period last year. A report by the Sharjah Real Estate Registration Department said the rise in the number of transactions indicated a retreat... -
Dubai property sales hit four-year high in August
The figures indicate that the property market, particularly the residential market, is recovering after hitting a low at the start of the pandemic last year. -
Tabreed ups cooling-scheme stake
The exclusive scheme supplies Al Maryah Island in Abu Dhabi. -
Riyadh leads Q2 Saudi Arabia residential market boom
Latest review by global property consultant Knight Frank says apartment values in Saudi capital grew by 7.6 percent year on year.