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Such indicators were last recorded in Q2 2014 The Dubai villa sector continues its upward trend in Q2 2021. The main interest for buyers and investors is in the finished property segment. Villas account for 13% of the overall residential real estate market, with a growth of 7% quarter-on-quarter and a growth of 6.3% year-on-year. Dubai's main districts recorded an annual growth of 10.3%, offsetting losses in 2020, according to consultancy ValuStrat. The agency's report showed that the number of transactions in June 2021 increased by 68% compared to May. Sales of finished properties increased by 75.5% compared to the previous month. The number of contracts for the purchase of off-plan properties (Oqood) increased by 59.5% (off-plan projects are those that are in the construction or...

Danube Group expresses concern over impending freeze in emirate rents One of Dubai's biggest property developers believes the rent freeze is meant to help tenants, not landlords. In April 2021, Dubai Lands Department (DLD) announced an upcoming freeze on rental prices for the next 3 years this year. The government agency has yet to fully clarify how far the freeze will go and which areas and property types will be affected. However, the news has already sent many landlords across the emirate into a panic. Danube Group believes that rent growth should remain within the bounds of market movements and intervention in this process, such as the freeze, should only occur if the situation is getting out of control and harming tenants. The rental market in Dubai is already subject to a number...

According to reports, tenants are trying to keep rental prices high by providing less incentives to tenants and more often offering 13-month contracts with one free month of use In some residential areas of Dubai, property owners are trying to fix ever higher rental rates on the eve of the new law coming into force that will freeze the movement of rental prices in the Emirate for the next three years. The regulations proposed by the Dubai Land Department (DLD) were announced in April this year. The details of the bill are still not completely clear. In particular, it is not known whether the law applies only to new contracts or will also affect existing contracts that are due to be updated soon. There is also no information about which types of real estate the freeze will be applied to:...

The analytical agency Knight Frank indicates that in the first 6 months of 2021, more premium-class real estate was sold than in the whole of 2020 By July of this year, buyers have already bought 22 luxury residential properties with a total cost of 770 million US dollars. In 2020, only 19 objects were purchased. The trend of buying real estate in Dubai from 10 million dollars mainly indicates a global shift in the residential sector towards growth, given that the Emirate is showing the best results since 2015. Dubai has always been known for low prices for premium real estate compared to other world market leaders, so the growth in the Emirate allows us to predict changes in other regions. Knight Frank believes that the sharp increase is largely due to the government's successful...

The Emirate's real estate market is forecast to have a strong recovery growth in the second half of the year due to incentive payments, reforms of the visa system and high demand from end consumers and investors Analysts agree that the residential segment has already passed its lowest point and currently offers good opportunities for developers in the premium real estate sector. Villas and townhouses show the first growth over the past seven months. The apartments are expected to start an uptrend in the near future. According to the latest data, despite international restrictions due to COVID-19, more than 8,000 new investors entered the Dubai market in the first half of 2021. Such figures are explained by the gradual transition of Dubai from a tourist destination to a full-fledged and...

It reached $5.9 billion, the residential sector brought $2.9 billion of this amount At the moment, the emirate's market has shown an increase of 44% compared to 2020. According to DLD (The Dubai Land Department), out of $5.9 billion the residential real estate sector brought in $2.9 billion, mortgage registration brought $1.76 billion, and another $1.1 billion was received from direct subsidies to the sector. "The Dubai real estate sector continues to prove its attractiveness for investment and flexibility in adapting to the new situation thanks to the legislative environment and the infrastructure," DLD comments on these data. 6,021 transactions were made in May, of which 5,359 were purchase and sale transactions. 11,387 new investors entered the market, which accounted for 66% of the...

The United Arab Emirates was the only country of the Arab Cooperation Council that entered the top 30 countries with developed "green" real estate The United Arab Emirates turned out to be the leading Arab country with the largest number of environmentally friendly real estate objects. At the moment, 869 units of such objects have been built. The real estate appraisal agency Knight Frank indicates that the undisputed leader in the rating is the United States, which has more than 80,000 "green" objects on its territory. When comparing cities, the list is led by the capital of the United Kingdom, London, which has about 3,000 units of such real estate. This eco-trend began to take shape only in recent years. According to the second report (Y)OUR SPACE from Knight Frank, 400 companies...

"No objection certificate" is NOC, necessary for the sale of any real estate, it is now possible to get it by "one click" Until recently, the owner of a real estate in Dubai, before concluding a contract for the sale of property, was forced to submit a NOC in person to the office of the developer of the object. This practice was quite inconvenient, but against the background of restrictions on international communication due to the COVID-19 pandemic, it led to even more problems for investors. The Dubai Land Department (DLD) has been developing various Internet analogues of its services in recent years. One of these analogues was eNOC. eNOC is an electronic version of the classic NOC, which can be issued with a couple of clicks to anyone who installs the Dubai REST mobile application...

But there is a nuance How much can you or your landlord raise or lower the price of renting real estate? Against the background of the recovery growth of the real estate sector and the UAE economy, investing in this country becomes an extremely attractive enterprise. However, before thinking about signing a lease or renting out in the United Arab Emirates, you should know that this process is quite strictly regulated by the state. This or that price can be assigned, rise and fall, based on several key parameters of the property under consideration. The same criteria determine the limit of price growth and how often it can rise. Here is a small historical summary. During the period of rapid price growth in the market, in 2013, to prevent a possible overestimation of supply, the...

Non-Muslim investors will be given access to the registration of the last will, the appointment of guardians for children and property transfer to heirs The first English court of common law in the United Arab Emirates has entered into an agreement with Emaar Properties to help promote the practice of providing services for drawing up the last will of an expatriate (a foreigner who permanently resides not in his native country) among other large companies in the UAE. Back in 2015, the court of the Dubai International Financial Center (DIFC) began to provide non-Muslim investors with the opportunity to legally formalize the last will of the owner both in the issue of inheritance transfer and in the issue of appointing guardians and trustees for their children. The current agreement...

But the sector is still quite sluggish and slow According to the latest data, the amount of real estate transactions has reached $ 3 billion. According to the Property Finder portal, everything points to the recovery of the market after the lockdown due to COVID-19. 4429 closed transactions last month are the largest result since March 2017. In percentage terms, the figure is even more impressive – an increase of 324% from last year. The main indicator of the sector's recovery was the average cost of transferring funds per transaction: 16.77% in the case of villas/townhouses and 17.1% in the case of apartments, this category accounted for 77% of all real estate sold. Property Finder also indicates that with such a significant growth month-to-month, it is possible to talk about...

The money will be used to develop new features and increase the capacity of the platform in order to expand its presence in the market Stake is a crowdfunding platform for real estate investments that provides access to this opportunity to any users who are able to spend $ 545 on an investment. Launched in DIFC FinTech Hive (part of the Dubai Special Economic Zone, engaged in the development of technologies for the financial sector) in December 2020, at the moment the company has attracted $ 4 million of investment in the initial round of securities placement. The participants-investors were members of a consortium of investors led by Combined Growth Real Estate. The latter was created in the United States by Amer Hammur, chairman of the American real estate investment company Madison...

According to Knight Frank, only Dubai and Buenos Aires show a steady decline in prices out of the 25 best cities for real estate investment, breaking out of the global trend The publication Al Jazeera writes that the steady oversupply of real estate under construction, which has persisted for the past five years, continues to restrain prices for luxury real estate at a relatively low level. Having survived the turbulence of 2020 and having recovered from the pandemic, developers are already going to build about 62,000 new objects this year, and about 63,500 objects in 2022, according to information provided by the consulting company Knight Frank. The last time higher rates of construction were established only in 2009. Faisal Durrani, head of Middle East research at Knight Frank,...

Hussain Sajwani, the Emirati billionaire associated with the Trump brand, is ready to buy back up to 100% of the company's shares for $595 million On Wednesday, June 9, Hussain Sajwani, the founder, chairman and member of the Board of Directors of DAMAC, as well as the owner of the Maple Invest investment fund, announced his intentions to buy back the remaining publicly owned shares of DAMAC PJSC. Currently, Maple owns 88.1% of DAMAC shares. At the first stage, Sajwani intends to take over more than 90% of the shares and gradually increase the ownership to 100%. The notice filed by DAMAC to the Dubai Financial Market says that Sajwani personally owns about 72% of the company's shares through various investment companies, and his offer to buy out minority shareholders is estimated at $595...