For the precise design of eleven residential towers in its mixed-use development, Azizi Venice, in Dubai South, Azizi Developments has given a contract to the National Engineering Bureau, based in the United Arab Emirates. With more than 400 opulent villas and mansions in addition to over 30,000 residential units dispersed among about 100 apartment buildings, Azizi Venice is a high-end development. Read this also: Dubai and Abu Dhabi’s retail rentals are rising by double digits. Established in 1984 in Dubai, the National Engineering Bureau (NEB) is a consulting organization specializing in architecture and engineering, renowned for its inventive and eco-friendly projects. It offers a wide range of services, including project management, engineering, interior design, architectural design, and urban planning. As the project’s master developer, Azizi Developments will supervise the building of all structures, including roads and infrastructure. Read this also: Over the last three years, Jumeirah Islands has registered over Dh10 million in trades, making it the new millionaires’ refuge in Dubai. “NEB’s renowned expertise perfectly aligns with our vision to elevate Venice to unparalleled levels of sophistication and innovation,” CEO Farhad Azizi stated in reference to the deal. We’re going to work together to design distinctive venues that honor our mutual dedication to excellence and quality. The opulent pedestrian-friendly promenade at the center of Azizi Venice is its focal point, he said. It will be covered with glass in the summer and open air in the winter to provide a temperature-controlled area with year-round activity and tourists. Read this also: Dubai real estate is still strong in the first quarter, while Abu Dhabi residential sales are good. The top official stated that Azizi Boulevard will be a new and distinctive point of interest on Dubai’s map of noteworthy sights. It will be lined with three-story buildings that are expected to house the best brands and retailers in the world, nightlife and entertainment options, as well as restaurants that represent a vast number of countries from across the world. Within Azizi Venice, another important attraction under development is Azizi Opera. He continued, “Azizi Opera, situated in the center of the boulevard and constructed to the highest, most modern standards of architecture and design, will emerge as one of Dubai’s most notable locations for cultural and community events.”

Due to strong demand and a shortage of high-quality inventory, retail rents in Dubai and Abu Dhabi have increased by double digits in recent months. CBRE Middle East reports that while rentals in Dubai increased 10.5% in the first quarter of the year, they increased 14.7% in the UAE capital. The real estate services company claims that multinational retail brands hoping to break into the local market—especially in Dubai—are partially responsible for the demand. The food and beverage business is another major consumer. According to CBRE, “the supply-and-demand imbalance continues to drive rental performance in both Abu Dhabi and Dubai.” “Despite the restricted stock availability and high occupancy levels, we are witnessing a rise in the number of global and international retail brands seeking to launch or expand in Dubai’s core locations.” High-quality properties are sought after by tenants in both emirates, especially those in desirable areas. CBRE noted that there isn’t enough stock available for the segment, though. According to Taimur Khan, Head of Research MENA in Dubai, “the strong levels of demand seen in the UAE’s retail market have resulted in a discernible lack of quality assets.” “Even while rental growth is anticipated to continue, this will probably exert some pressure on new market activity, especially considering the dearth of forthcoming developments.” market for industries CBRE stated that there were “robust levels of demand” in the industrial sector during the first quarter of the year. In Abu Dhabi and Dubai, the average rent went up by 5.1% and 14.3%, respectively. “Over the rest of the year, a number of new developments are scheduled for delivery; however, this is unlikely to exert downward pressure on rental rates,” said CBRE.

After Emirates Hills, Jumeirah Bay Island, and Palm Jumeirah, elites seeking to settle in Dubai have turned to Jumeirah Islands as a new hunting area. The Islands accounted for more than 10% of sales totaling more than Dh10 million in the last three years, according to international real estate consultancy Knight Frank, indicating that the region may hold its value and develop into a desirable neighborhood. Read this also: Dubai real estate is still strong in the first quarter, while Abu Dhabi residential sales are good. A 4,500-square-foot, 4-bedroom house in the man-made island cluster sold for Dh28 million, or Dh5,111 per square foot, in late December 2023, making it the most expensive property to sell. A total of over Dh1 billion has changed hands for 97 Jumeirah Islands residences in the past year. Dubai is a developing market that has evolved, according to Will McKintosh, regional partner and head of residential for Mena at Knight Frank. Read this also: The complete guide to renting an apartment in the United Arab Emirates He continued, “It is only a matter of time before other areas like Tilal Al Ghaf, Jumeirah Golf Estates, Al Barari, and/or Blue Waters also make the transition to prime status. The growing list of prime residential neighbourhoods is yet another sign of maturity bedding in.” In addition to the city’s 44% decline in prime home listings to approximately 4,900 properties, the number of homes up for sale on Jumeirah Islands has dropped by 28% in the past year to 279 homes due to the high demand for these properties, according to Faisal Durrani, partner and head of research for Mena at Knight Frank. Read this also: Sobha Realty uses cutting-edge holographic displays to improve customer experiences. He continued by saying that buyers are still paying record prices for properties in the Islands and are spending comparable sums on renovations, which suggests that the market has been characterized by a longer-term buy-to-hold or buy-to-live mentality for the past four years. “The ‘competition for space’ drove Dubai’s villa prices, which increased by 17% in the past year, and the same was true for Jumeirah Islands, as we witnessed during the pandemic. The constant increase in demand from overseas buyers for waterfront houses or those with access to parks and/or green areas has also played a role in its rise to the elite club; Jumeirah Islands offers both, according to Durrani. Read this also: New hub for Dubai’s millionaires: Jumeirah Islands records deals of at least Dh10 million in just three years The urge to buy a villa in Dubai rises with net worth, according to Shehzad Jamal, partner for strategy and consultation for MEA at Knight Frank. It goes from 30% for individuals with a net worth of $2–5 million to 48% for those with personal wealth levels of more than $15 million. When considering high-net-worth individuals worldwide, this percentage increases to 59% when their net worth exceeds $20 million.

Do you have any plans to relocate to the UAE? With the aid of this all-inclusive book, you will be able to locate your dream apartment and comprehend the legalities associated with renting in the nation. Budget and expenses: Security deposits and upfront payments It’s crucial to consider the one-time expenses of renting in addition to the annual rent after choosing the perfect house. Read this also : Sobha Realty uses cutting-edge holographic displays to improve customer experiences. Among these expenses is giving the landlord a security deposit, which is usually equal to five percent of the rent. Moreover, the costs associated with lease registration must be paid. This process is referred to as “Ejari” in Dubai and “Tawtheeq” in Abu Dhabi. It is imperative that the tenancy contract be registered with the real estate regulatory authorities, regardless of the emirate in which you live. Read this also: New hub for Dubai’s millionaires: Jumeirah Islands records deals of at least Dh10 million in just three years Additional expenses to plan for A deposit is needed to activate the services when applying for water and electricity connections with the local water and electricity authority in your emirate. You will need to file a second application for an air conditioning connection, or “chiller services,” if your region is serviced by a district cooling firm. Read this also: A look inside Dubai World Island’s new hideaway with floating helipads and sail-in apartments What’s included in the rent? (Maintenance costs, utilities, etc.) Generally speaking, the landlord is in charge of taking care of ordinary wear and tear issues in apartments. If a landlord advertises a lease as being “chiller free,” they may occasionally additionally pay for chiller expenses. It is crucial to make sure the contract expressly specifies whether and for how long district cooling services will be offered at no cost. This data will assist in elucidating any possible maintenance charges related to the flat. Read this also: Dubai real estate: In 2025, prices will skyrocket and flooding will “minimally impact” the market. Does using the community’s or apartment complex’s amenities require payment? Rental Law No. 26 of 2007 in Dubai states that, unless otherwise specified, the rent covers access to all amenities, including playgrounds, swimming pools, gyms, health clubs, and parking lots. It is crucial to go over the contract in detail to find out which amenities could not be accessible. Exist any limitations on subletting? You can sublease your apartment, but you’ll need the landlord’s written permission to do so. You also won’t be allowed to make any changes without their approval. Read this also: Dubai Real Estate: Mortgage vs. Home Loan Which Financing Option for Properties Is Better? Expert Opinions In addition, you can list your unit on websites like Airbnb for short-term rentals. This can be accomplished by applying for a short-term rental license and getting the landlord’s written agreement. What is the duration of the tenancy? (Term of lease) The duration of the tenancy is typically one year, and your rental agreement will make this apparent. To what extent can rent be raised? Expense hikes should be factored in when thinking about renting an apartment. The rental index is used in Dubai to govern and constantly monitor increases in rent. This tool can give important information about the anticipated rise when the lease is up for renewal. It is advisable to learn about any restrictions on rent increases with the local real estate regulatory body for other emirates. Tenants can more successfully negotiate the rental market and choose their living arrangements by being proactive and knowledgeable. Read this also: Dubai and Abu Dhabi’s retail rentals are rising by double digits. How much advance notice is needed in order to raise rent? In Dubai, you have three months’ notice before your lease expires to notify your landlord of any changes to the rental agreement, including increases in rent. If the anticipated rent increase is more than you can afford, you have plenty of time to look into other housing possibilities thanks to this advance notification. What should be done when someone wants to move out? Examine your tenancy contract and familiarize yourself with the provisions pertaining to non-renewal and early termination before organizing your move. Even if your contract is ending and you are leaving, it is still necessary to be aware of any notice time obligations. You might also have to pay many months’ worth of rent if you are ending your contract early. How may one receive their security deposit returned? You have to request its return in order to get your security deposit back. You can move on with organizing your next course of action after talking with your landlords, both present and potential. Your landlord will cancel the Ejari registration when your lease is terminated. But, you are in charge of turning off the electricity and water at your existing house or moving the connections to your new address.

This cutting-edge technique presents Sobha Realty’s projects in stunning clarity while enabling visitors to explore the subtleties of the company’s initiatives in an interesting and interactive way. Read this also: New hub for Dubai’s millionaires: Jumeirah Islands records deals of at least Dh10 million in just three years Globally renowned real estate developer Sobha Realty made history by introducing the first holographic display in the industry to enhance the consumer experience. This display uses mixed reality to give customers an immersive experience to imagine what life would be like at the Sobha developments, enabling them to make better decisions. This cutting-edge technique presents Sobha Realty’s projects in stunning clarity while enabling visitors to explore the subtleties of the company’s initiatives in an interesting and interactive way. Read this also: A look inside Dubai World Island’s new hideaway with floating helipads and sail-in apartments Sobha Realty is already setting a new standard for the real estate industry by utilizing mixed reality to provide prospective buyers with a unique experience when engaging with their possible properties. “We aimed at ensuring an engaging and dynamic visualisation of our projects by combining physical and digital worlds, offering a realistic preview that traditional methods cannot replicate,” stated Sobha Group Co-Chairman Ravi Menon. This initiative is an extension of the company’s ongoing efforts to promote innovation and improve customer satisfaction, and it will further improve the user experience at our sales galleries. Read this also : Dubai real estate: In 2025, prices will skyrocket and flooding will “minimally impact” the market. Using this technology, one may create the appearance of three-dimensional objects on a flat surface from any perspective. Virtual holograms are stable illusions that are produced by continuously altering the projection according on the viewpoint of the user. Additionally, a patented tracking mechanism integrated within the device allows users to wear stereo glasses and track their exact location in space. Each project has specially created content that is adapted to meet its own requirements and style, transforming it into an animated, full-scale simulator. Read this also: Dubai Real Estate: Mortgage vs. Home Loan Which Financing Option for Properties Is Better? Expert Opinions By introducing this innovative technology, Sobha Realty not only shows that it is dedicated to being at the forefront of technology adoption, but it also facilitates prospective buyers’ decision-making process. By offering a crisp, immersive preview of possible houses, Sobha Realty is elevating the bar for the industry and changing how buyers engage with properties.

After Emirates Hills, Jumeirah Bay Island, and Palm Jumeirah, elites seeking to settle in Dubai have turned to Jumeirah Islands as a new hunting area. According to international real estate consultancy Knight Frank, the Islands accounted for more than 10% of all transactions valued at more than Dh10 million during the previous three years, indicating that the region may maintain its value and become a desirable neighborhood. Read this also: A look inside Dubai World Island’s new hideaway with floating helipads and sail-in apartments A 4,500 square foot, 4-bedroom house in the man-made island cluster sold for Dh28 million, or Dh5,111 per square foot, in late December 2023, making it the most expensive property to sell. In the past 12 months, 97 Jumeirah Islands residences valued at about Dh1 billion have changed hands. Will McKintosh, regional partner and Knight Frank’s head of residential for Mena, emphasized that Dubai is now an established market rather than an emerging one. He continued, “It is only a matter of time before other areas like Tilal Al Ghaf, Jumeirah Golf Estates, Al Barari, and/or Blue Waters also make the transition to prime status. The growing list of prime residential neighbourhoods is yet another sign of maturity bedding in.” Read this also : Dubai real estate: In 2025, prices will skyrocket and flooding will “minimally impact” the market. According to Faisal Durrani, partner and head of research for Mena at Knight Frank, the number of prime home listings in the city has dropped by 44% to approximately 4,900 properties in the last year, with a further 28% decrease in the number of homes available for sale to 279 due to the high demand for properties on the Jumeirah Islands. He went on to say that purchasers are not only paying record prices for properties in the Islands, but they are also investing comparable sums in renovations, clearly indicating a longer-term buy-to-hold or buy-to-live mindset that has dominated the market for the previous four years. Read this also: Dubai and Abu Dhabi’s retail rentals are rising by double digits. The “race for space,” which has been evident throughout the pandemic, has contributed to the 17% increase in Dubai villa prices over the past 12 months, and Jumeirah Islands prices have also soared. The constant increase in demand from overseas buyers for waterfront houses or those with access to parks and/or green areas has also played a role in its rise to the elite club; Jumeirah Islands offers both, according to Durrani. According to Shehzad Jamal, partner at Knight Frank for strategy and consulting for MEA, the desire to own a villa in Dubai increases with net worth, rising from 30% for individuals with a net worth of $2–5 million to 48% for those with personal wealth levels over $15 million. With a net worth of more than $20 million, this percentage rises even higher to 59% among high net worth persons worldwide.