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Ajman Real Estate Hits $523 Million in Q1 as Golden Visa Investors Boost Sales

Ajman Real Estate Hits $523 Million in Q1 as Golden Visa Investors Boost Sales

The Ajman real estate market saw a surge in transactions during the first quarter of 2024, driven by strong investor interest and a favorable investment climate. According to official data, real estate transactions in Ajman reached AED1.92 billion ($523 million) during this period. Omar bin Omair Al Muhairi, Director-General of the Department of Land and Real Estate Regulation in Ajman, revealed that 400 real estate valuation transactions totaling over AED1.92 billion ($523 million) were recorded in the recent quarterly report. Al Muhairi noted a significant increase in personal valuation transactions, with a 129% rise compared to the same period in 2023. Read this also : ASALDI Properties Launches ‘Shades’ in Egypt with $80 Million Investment Ajman Real Estate Highlights The report showed that 277 real estate valuation transactions, totaling AED669 million ($182 million), were registered for investors with golden visas. This reflects the sustained momentum in Ajman’s real estate market, which is expected to continue growing due to the emirate’s economic opportunities, diverse attractions, and conducive investment environment. Read this also : Arabian Kuwaiti Group Set to Launch Branded Residences in West Cairo Commercial real estate transactions saw a 10.34% increase in valuation, reaching a total of over AED1.4 billion ($406 million). This figure outpaced residential real estate transactions, which were valued at AED317.5 million ($86 million). Meanwhile, industrial real estate transactions secured third place with a total valuation of AED164 million ($45 million). These results indicate the ongoing strength and appeal of Ajman’s real estate market across various sectors. Read this also : UAE: Repair Responsibilities in Rented Properties – What Tenants Need to Know Ajman’s real estate market is poised for continued growth, bolstered by the emirate’s strategic location, thriving economy, and favorable policies attracting investors seeking golden visa opportunities.

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ASALDI Properties Launches 'Shades' in Egypt with $80 Million Investment

ASALDI Properties Launches ‘Shades’ in Egypt with $80 Million Investment

ASALDI Properties has launched its flagship project, ‘Shades,’ in Egypt with a total investment of EGP 2.5 billion ($80 million). This marks the company’s debut in the Egyptian market, with plans to invest EGP 10 billion over the next five years. Read this also : Arabian Kuwaiti Group Set to Launch Branded Residences in West Cairo ASALDI Properties is a specialist in office and commercial real estate. Founder Hany Al Assal expressed confidence in the Egyptian market’s potential, stating, “The Egyptian market is promising and full of opportunities that can be capitalized on at present.” Mohamed Hany Al Assal, co-founder and owner of ASALDI Properties, emphasized the significance of the Egyptian real estate market, noting its robust demand. He also highlighted the project’s investment value at EGP 2.5 billion. Read this also : UAE: Repair Responsibilities in Rented Properties – What Tenants Need to Know ‘Shades’ is ASALDI Properties’ first commercial and administrative project in East Cairo. It spans a built-up area of 48,000 square meters with a leasable area of over 18,000 square meters. The development includes four floors with more than 400 parking spaces, as well as offices, clinics, restaurants, shops, and entertainment areas. Read this also : The company began operations and sales for the ‘Shades’ project in December 2023, and it is expected to be completed by the end of 2025. This strategic move positions ASALDI Properties as a key player in Egypt’s commercial real estate sector.

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Arabian Kuwaiti Group Set to Launch Branded Residences in West Cairo

Arabian Kuwaiti Group Set to Launch Branded Residences in West Cairo

The Arabian Kuwaiti Group is gearing up to unveil its branded residences in West Cairo as part of its strategy to strengthen its presence in the Egyptian market. The group’s vision extends beyond real estate to encompass tourism, agriculture, and hospitality, aiming to attract over 100,000 visitors annually to its tourism businesses. Read this also : UAE: Repair Responsibilities in Rented Properties – What Tenants Need to Know The group’s recent $20 million acquisition of a hotel in Sharm El Sheikh is being transformed into a luxury hotel brand, signaling its commitment to elevating the tourism experience in the region. Additionally, plans are underway to establish a bustling business district in Sharm El Sheikh, which will serve as one of the area’s primary attractions. Discussions are ongoing to acquire more hotels in the area, further solidifying the group’s position in Egypt’s tourism industry. Read this also : Central and Eastern Sharjah Real Estate Transactions Reach Dh32.3 Million in Q1 2024 In agriculture, the Arabian Kuwaiti Group successfully reclaimed 800 feddan in Al-Ayat, located in the western regions of Cairo. This initiative is part of the group’s larger goal of expanding its cultivated land to 8,000 feddan. Much of the produce is exported to European markets, reflecting the group’s dedication to boosting productivity and supporting global trade. Read this also : Revealed: Dubai Mangroves Plan—The World’s Largest Coastal Regeneration Project The group’s real estate division, Arabian Investment House Holding, has announced a new branded residential project in West Cairo that will soon begin construction. CEO Tarek Eid confirmed that the project will require an investment exceeding $200 million, demonstrating the group’s strong confidence in the Egyptian market and its commitment to the country’s economic growth in the tourism, agriculture, and residential sectors. Read this also : Revealed: Dubai Mangroves Plan—The World’s Largest Coastal Regeneration Project With a history of diverse investments in the UAE, Kuwait, Turkey, and Bosnia, the Arabian Kuwaiti Group has a proven track record in managing hotels, restaurants, and land reclamation projects in Egypt. As the group continues to expand its investment portfolio in Egypt, its ventures in various sectors signal a promising future for the country’s development.

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UAE: Repair Responsibilities in Rented Properties – What Tenants Need to Know

UAE: Repair Responsibilities in Rented Properties – What Tenants Need to Know

When a rented property sustains damage due to severe weather or other unforeseen events, the question of who is legally responsible for repairs arises. In the UAE, the burden typically falls on the landlord, but there are specific nuances across different emirates. Here’s an overview of tenant rights and responsibilities regarding repairs in rented properties in Dubai, Abu Dhabi, and Sharjah. Read this also : Central and Eastern Sharjah Real Estate Transactions Reach Dh32.3 Million in Q1 2024 Landlord Responsibilities for Repairs Abu Dhabi Under Abu Dhabi Rental Law (Law No. 20/2006), the landlord is required to maintain the leased property and make necessary repairs to keep it usable, excluding minor repairs. If tenants face significant maintenance issues that render the property uninhabitable, they can seek resolution through the emirate’s Rental Dispute Centre. The landlord is responsible for covering maintenance costs unless otherwise specified in the tenancy agreement. Read this also : Revealed: Dubai Mangroves Plan—The World’s Largest Coastal Regeneration Project Dubai According to Dubai’s tenancy regulation (Law No. 26 of 2007), landlords are responsible for all maintenance costs unless the tenancy contract specifies otherwise. Article 17 of the law clarifies that landlords must address defects or damages not caused by the tenant. For significant maintenance expenses, tenants can request reimbursement from the landlord. If the contract lacks clarity on maintenance responsibilities, disputes can be resolved through the Rental Dispute Centre. Read this also : Dubai South Properties Gain Interest Amid Plans for Massive New Airport Sharjah Sharjah Law No. 2 of 2007 outlines the landlord’s responsibility for maintaining the property during the lease period, ensuring it is in suitable condition for use. The law requires landlords to handle maintenance work without additional rental payments unless agreed upon in the lease agreement. However, tenants must use the property according to the contract terms to avoid damage and unnecessary repair costs. Tenant Rights and Responsibilities Under the UAE Civil Code (Federal Law No. 5 of 1985), tenants have the right to request reimbursement for significant maintenance expenses they incur if the landlord fails to act. Tenants can also address urgent issues themselves and seek reimbursement from the landlord or deduct the costs from rent. Read this also : Dubai South Properties Gain Interest Amid Plans for Massive New Airport In cases where landlords refuse to make necessary repairs, tenants have options such as requesting the rental dispute committee to terminate the contract or seeking a rent reduction proportional to the damage. These measures protect tenants from bearing responsibilities that should be the landlord’s duty. Consider Renters’ Insurance Tenants are advised to consider content or tenant insurance to cover personal belongings and provide alternative accommodation in case of emergencies. Many UAE tenants currently lack insurance coverage, so exploring options can provide peace of mind and protection for personal property. Read this also : Amali Launches 24-Villa Luxury Property on Dubai’s The World Islands What Happens Without Renters’ Insurance? Tenants without insurance may still have options depending on the cause of the damage. If the property was damaged due to the landlord’s negligence, tenants may seek compensation. For instance, repeated requests to address issues like broken windows or a damaged roof that are ignored by the landlord may warrant a claim. In cases of damage caused by defective construction, tenants may have recourse against the landlord, as this directly affects the property and ties to the responsibilities of ownership. Read this also : Ajman’s Real Estate Valuation Reaches $523 Million in Q1 2024 Tenants are encouraged to review their tenancy agreements and legal rights to navigate these situations effectively and ensure they are adequately protected.

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Central and Eastern Sharjah Real Estate Transactions Reach Dh32.3 Million in Q1 2024

Central and Eastern Sharjah Real Estate Transactions Reach Dh32.3 Million in Q1 2024

The Real Estate Registration Department of Sharjah released a report showcasing the real estate performance in the Central and Eastern regions of the emirate. Through its four branches in Al-Dhaid, Khor Fakkan, Dibba Al-Hisn, and Kalba, the cash trading volume, a key indicator of economic activity, reached an impressive Dh332.4 million. Additionally, during the first quarter of 2024, these branches facilitated 6,732 transactions spanning a substantial 10.1 million square feet. Read this also : Revealed: Dubai Mangroves Plan—The World’s Largest Coastal Regeneration Project Director of Branches Department at the Sharjah Real Estate Registration Department, Omar Al-Mansouri, remarked, “Over the years, the real estate sector in the Central and Eastern regions has consistently evolved, broadening economic horizons and providing promising opportunities.” Read this also : Dubai South Properties Gain Interest Amid Plans for Massive New Airport The four branches accounted for 3.3% of Sharjah’s total real estate trading volume. In Al-Dhaid, the total cash trading volume was Dh146.2 million, representing 1.5% of the total. Khor Fakkan recorded a trading volume of Dh114.8 million, or 1.1% of the total. Kalba’s transactions totaled Dh62 million, or 0.6% of the total. Dibba Al-Hisn saw transactions worth Dh9.3 million, which represented 0.1% of the total trading volume. Read this also : Aldar Launches Athlon, Dubai’s First Community Focused on ‘Active Living’ The branches completed mortgage transactions totaling Dh130.3 million during the period.

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Revealed: Dubai Mangroves Plan—The World's Largest Coastal Regeneration Project

Revealed: Dubai Mangroves Plan—The World’s Largest Coastal Regeneration Project

Dubai-based urban planning and development firm, URB, has proposed a revolutionary project poised to set new standards for coastal regeneration in the city. The ambitious Dubai Mangroves project aims to plant over 100 million mangrove trees across a 72-kilometer stretch of coastline, blending ecological preservation with urban development. This initiative supports Dubai’s environmental goals and aligns with the Dubai 2040 Master Plan, emphasizing urban resilience, biodiversity, and sustainable development. Read this also : Dubai South Properties Gain Interest Amid Plans for Massive New Airport Currently in its research phase, the project features six pilot design studies in specific areas, each showcasing how different infrastructure components can coexist with mangrove restoration efforts. This approach creates multipurpose coastal landscapes that offer ecological, recreational, and aesthetic benefits. URB has previously spearheaded innovative projects such as The Loop in Dubai and the Dubai Reefs Project. Read this also : Jubail Island Begins Handover of First Luxury Residential Units Mangroves play a crucial role in sequestering carbon, protecting coastlines from erosion, and supporting marine life and food security. Each tree can absorb 12.3 kg of CO2 annually, allowing the project to sequester 1.23 million tonnes of CO2 per year—equivalent to the emissions from over 260,000 gasoline-powered passenger vehicles annually. Baharash Bagherian, CEO of URB, shares the vision for the project: “Dubai Mangroves exemplifies how urban and environmental innovation can coexist harmoniously, setting a global standard for how cities can balance planetary and human needs. This project goes beyond coastal regeneration or resilience; it’s about demonstrating how cities worldwide can integrate ecological preservation with urban development.” Read this also : Amali Launches 24-Villa Luxury Property on Dubai’s The World Islands The project includes various educational resources, such as the Mangrove Visitor Hub, designed to educate and engage residents and tourists about the importance of mangroves and broader environmental challenges. The Hub, along with the Botanical Museum and Nature Reserve Conservation Center, will serve as a focal point for advocacy, education, and research, inspiring environmental stewardship among locals and visitors.

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Dubai South Properties Gain Interest Amid Plans for Massive New Airport

Dubai South Properties Gain Interest Amid Plans for Massive New Airport

Real estate investors are increasingly focusing on Dubai South properties and surrounding areas, spurred by plans to move airport operations to Al Maktoum International. A recent report from PropertyFinder highlights how neighborhoods such as Dubai South, Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, and Al Furjan have become prime targets for those looking to purchase residential units. Read this also : Aldar Launches Athlon, Dubai’s First Community Focused on ‘Active Living’ The shift in airport operations has sparked a surge in interest in Dubai South (Dubai World Central), as noted by the real estate platform. Searches for villas in the area have seen a marked increase since the announcement. Dubai’s Vice President, Prime Minister, and ruler, Sheikh Mohammed bin Rashid Al Maktoum, announced plans to relocate all operations from Dubai International Airport (DXB) to Al Maktoum International Airport in the coming years. He revealed that the new airport’s passenger terminals will be five times larger than those at DXB, currently the world’s busiest hub for international travel. Read this also : Amali Launches 24-Villa Luxury Property on Dubai’s The World Islands Sheikh Mohammed also emphasized the expected rise in property demand around the airport. “As we build an entire city around the airport in Dubai South, demand for housing for a million people will follow,” he stated. The development is expected to inject dynamism into the market, according to PropertyFinder’s Chief Revenue Officer, Cherif Sleiman. He anticipates continued vibrancy in the market following the transition from DXB to Al Maktoum International Airport, which will likely drive demand across emerging areas. Read this also : Jubail Island Begins Handover of First Luxury Residential Units While new neighborhoods are gaining attention, established hotspots like Dubai Marina, Downtown Dubai, Jumeirah Village Circle, Business Bay, and Palm Jumeirah remain popular choices for apartment buyers. The Dubai real estate market has seen substantial growth, with the number of sales transactions increasing by over 45% from April 2023 to April 2024. Transactions rose from 7,999 to 11,607 during this period. The value of transactions also saw a notable increase, reaching nearly AED 32 billion—a more than 21% jump from the corresponding month in 2023.

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