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A Dh1 Billion Project Unveiled in Dubai's Production City by Samana

A Dh1 Billion Project Unveiled in Dubai’s Production City by Samana

April 29, 2024

Samana, a Dubai-based private developer, announced the launch of the Dh1 billion Samana Lake Views Project on Thursday. The group plans to invest Dh12.5 billion in UAE real estate this year. Situated in Dubai Production City, the project includes twin towers with 1,006 apartments, featuring studios, one-bedroom, and two-bedroom units across a 794,000 square foot area. The completion date for the project is set for October 2027. Read this also : Sheikh Mohammed Approves Design Plans for New Passenger Terminal at Al Maktoum International Airport “Samana’s latest project signifies an expansion into innovative design, focusing on waterfront developments. Our decision to build near waterfronts is driven by the demand from our investors who seek resort-style communities with affordable pricing options,” said Imran Farooq, CEO of Samana Developers. Read this also : Dubai’s Ultra-Luxury Real Estate Set to Soar with HNWI Surge The development boasts smart home technology and private pools in every apartment. It also offers various amenities such as kids’ pools, leisure pool decks, barbecue areas, lazy rivers, basketball courts, table tennis zones, cabanas, aquatic indoor and outdoor gyms, relaxation zones, bonfires, kids’ splash pads, an outdoor movie theater, a trampoline park, and a virtual reality (VR) golfing facility. “Our properties have shown promising rental income and potential for capital appreciation, attracting interest from UAE expatriates as well as investors from the US, Europe, GCC, and Asian countries,” Imran added. Read this also : Emaar Properties Announces Dh4.4 Billion Dividend at Annual General Meeting The Samana Lake Views complex in Dubai Production City makes homeownership accessible through an eight-year payment plan, a five-year post-handover plan, and monthly installments of either 1% or 0.5%. The project’s starting prices are Dh639,000. Investors seeking high yields are attracted to the 8% return on investment (ROI). Here are some tags separated by commas: Dubai Real Estate, Samana Developers, Dh1 Billion Project, Samana Lake Views, Dubai Production City, Twin Towers, Smart Home Technology, Private Pools, Luxury Amenities, UAE Property Investment, Waterfront Developments, Homeownership Plans, Return on Investment, UAE Expatriates, International Investors, Resort-Style Living, Urban Development.

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Sheikh Mohammed Approves Design Plans for New Passenger Terminal at Al Maktoum International Airport

Sheikh Mohammed Approves Design Plans for New Passenger Terminal at Al Maktoum International Airport

April 29, 2024

Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister of the UAE, and Ruler of Dubai, has approved plans for a new passenger terminal at Al Maktoum International Airport in Dubai South. The development is part of a broader strategy to shift all operations from Dubai International Airport to the new location over a decade. Read this also : Dubai’s Ultra-Luxury Real Estate Set to Soar with HNWI Surge The ambitious project involves constructing a Dh128 billion terminal and will begin immediately as part of the Dubai Aviation Corporation’s long-term plan. The airport will span 70 square kilometers, featuring five parallel runways and 400 aircraft gates. Once completed, the new airport will be five times larger than Dubai International Airport (DXB) and will incorporate cutting-edge technologies new to the aviation industry. It aims to serve up to 260 million passengers, making it the world’s largest airport. Read this also : Emaar Properties Announces Dh4.4 Billion Dividend at Annual General Meeting Sheikh Mohammed shared the news on social media platform X, stating, “We are preparing for a new phase in the growth of the global aviation sector. We are preparing for a phase in which Dubai leads the international aviation sector for the next forty years.” Dubai South, an airport city in development, will increase demand for an additional one million homes and attract leading logistics and aviation companies due to its strategic location. Read this also : Binghatti Unveils Major Megaproject in Dubai Hills Sheikh Mohammed emphasized the significance of the project, stating, “We are building a new project for generations, ensuring continuous and stable development for our children so that Dubai will be the world’s airport, port, urban metropolis, and new cultural center.”

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Dubai's Ultra-Luxury Real Estate Set to Soar with HNWI Surge

Dubai’s Ultra-Luxury Real Estate Set to Soar with HNWI Surge

April 25, 2024

Dubai’s ultra-luxury real estate market is poised for significant growth, propelled by a surge in high-net-worth individuals (HNWIs) and substantial investment inflows during the first quarter of the year. By 2025, HNWIs are expected to account for a 24.6% increase in Dubai’s real estate market, driving the luxury segment to unprecedented heights. read this also : Emaar Properties Announces Dh4.4 Billion Dividend at Annual General Meeting The Dubai residential real estate market experienced a jump to $110 billion in the first quarter, fueled by a 55% increase in investment inflows. Springfield Properties’ Quarter 1, 2024 Market Insights Report revealed that 42% of new investors are from international markets. Springfield Properties is a leading real estate brokerage in Dubai. Read this also : Binghatti Unveils Major Megaproject in Dubai Hills “Building on the record-breaking achievements of 2023, Dubai’s residential market continued its upward momentum in Q1 2024 with 37,134 transactions totaling $109.8 billion. The recent move to waive the Dh1 million minimum down payment requirement for golden visa eligibility through real estate investment is expected to further escalate this trend,” the report stated. Farooq Syed, CEO of Springfield Properties, highlighted the market’s robust investor confidence and liquidity, vital for sustaining growth and competitiveness. “Our report showcases a rising demand for off-plan properties, indicating a strategic shift in investment preferences and demonstrating the sector’s potential for capital appreciation and yield generation,” Syed added. The equilibrium between off-plan and secondary market sales reflects a mature and diverse real estate landscape, pointing to investor confidence and market stability. “Dubai’s strategic regulatory measures and ongoing infrastructure enhancements have significantly boosted the city’s appeal. These elements, combined with our market insights, reinforce Dubai’s position as a top destination for investors seeking enduring value and growth opportunities,” said Syed. ValuStrat’s survey showed the gap between apartment and villa capital growth rates narrowing, with the ValuStrat Price Index (VPI) reaching 167.5 points in March. This marks a 24.7% annual increase and 2.1% monthly increase. Discovery Gardens saw the highest apartment capital growth at 32.6% over the past year, while other notable areas include Town Square (24.5%), The Views (24.8%), Palm Jumeirah (29%), and The Greens (29.8%). In terms of villas, popular communities such as Palm Jumeirah and Jumeirah Islands experienced rapid growth, both up 37.7% from the previous year. Dubai Hills Estate saw a 34.8% increase, while other communities such as Arabian Ranches and Mudon also showed strong gains. High-value ready properties were sold in notable areas like Jumeirah Bay Island, Palm Jumeirah, Emirates Hills, Jumeirah Golf Estates, and Dubai Hills Estate. March 2024 saw a significant increase in off-plan Oqood registrations, rising 18.2% monthly and 14% annually. Emaar led the Oqood transactions at 14.9%, followed by other developers such as Sobha (5.6%), Azizi (6%), and Damac (10.9%). Top off-plan project locations included Jumeirah Village Circle (10.9%), Zabeel First (6%), Meydan One (5.7%), and Business Bay (5.6%). For ready-to-move-in sales, Jumeirah Village Circle led with 9.3%, followed by Business Bay (7.4%), Dubai Marina (6%), and Downtown Dubai (5.3%).

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Emaar Properties Announces Dh4.4 Billion Dividend at Annual General Meeting

Emaar Properties Announces Dh4.4 Billion Dividend at Annual General Meeting

April 25, 2024

Emaar Properties PJSC held its Annual General Meeting (AGM) on Monday, April 22, 2024, in Dubai. The company’s shareholders approved the Board of Directors’ proposal for a significant dividend payout of Dh4.4 billion ($1.2 billion), equivalent to 50 fils per share. This decision underscores the company’s solid financial standing and dedication to providing value to its shareholders. Read this also : Dubai Developers Offer Free Repairs for Homes Damaged by Rain The AGM reviewed the board’s report and the auditor’s assessment of Emaar’s operations and financial status for 2023. The board outlined the company’s impressive performance throughout 2023, showcasing robust real estate sales totaling Dh40.3 billion ($11 billion) overall, with Dh37.4 billion ($10.2 billion) from the domestic market. This success demonstrates continued trust in the Emaar brand and the company’s innovative management approach. Read this also : Dubai Residents Can Seek Help for Rain Damage Through WhatsApp Emaar reported Dh26.7 billion ($7.3 billion) in revenue and a net profit of Dh11.6 billion ($3.2 billion) in 2023, reflecting year-over-year growth of 7% and 70%, respectively. Factors such as increased retail sales, steady real estate demand, and a boost in tourism contributed to these results. Additionally, Emaar achieved a 67% rise in earnings before interest, taxes, depreciation, and amortization (Ebitda), reaching Dh17.3 billion. Read this also : My Dubai Rent: Digital Content Creator Enjoys Dynamic Marina Apartment Living Emaar’s positive trajectory continues in 2024, with domestic real estate sales maintaining high levels. The company recorded over Dh19 billion in sales in the early months of the year, representing a more than 60% increase over the same period last year. Founder Mohamed Alabbar expressed optimism about the remarkable outcomes in 2024, emphasizing Emaar’s focus on operational excellence, investment returns, and customer satisfaction. “We are constantly launching innovative projects that significantly contribute to Dubai’s economy and enhance long-term shareholder value,” said Alabbar. Through strategic initiatives in digital transformation, product innovation, and market penetration, Emaar is poised for robust growth and future success.

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Binghatti Unveils Major Megaproject in Dubai Hills

Binghatti Unveils Major Megaproject in Dubai Hills

April 25, 2024

Binghatti, a prominent Emirati developer based in Dubai, is launching an expansive real estate project in the Dubai Hills district. The development, known as Binghatti Hills, is set to become the largest project in Dubai Hills, featuring 1,666 residential units and 21 retail spaces across a vast land area. Read this also : Dubai Developers Offer Free Repairs for Homes Damaged by Rain The unveiling ceremony of the project will take place on April 29 at the Four Seasons Jumeirah in Dubai. Following the ceremony, a four-day sales event will be held. Attendees will get a first look at Binghatti’s ambitious plans for transforming the Dubai Hills community. Binghatti Hills draws inspiration from the rolling hills and aims to evoke the tranquility of natural landscapes. The project includes private pools and lush sky gardens integrated within the buildings. Read this also : My Dubai Rent: Digital Content Creator Enjoys Dynamic Marina Apartment Living Residents will enjoy a range of exclusive amenities, such as a private beach, zen gardens, and sports facilities. The development’s amenity deck offers ample spaces for relaxation and wellness. “We are excited to announce the debut of our first project in this community,” stated Muhammad BinGhatti, CEO of Binghatti. “Our vision and exceptional offerings ensure that Binghatti Hills will attract discerning investors seeking exclusive and profitable opportunities while reshaping Dubai’s real estate landscape.” Read this also : Dubai Developers Offer Free Repairs for Homes Damaged by Rain “We look forward to revealing more details of this architectural masterpiece soon.” Ideally located across from Dubai Hills Mall, Binghatti Hills offers easy access to hotels and other amenities, making it a prime destination for residents and investors alike.

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Dubai Residents Can Seek Help for Rain Damage Through WhatsApp

Dubai Residents Can Seek Help for Rain Damage Through WhatsApp

April 25, 2024

Dubai residents who have been impacted by heavy rain can now seek help for property damage using a dedicated WhatsApp support number. This move comes under the directive of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, ensuring authorities are prepared for severe weather. Read this also : Palm Jumeirah Villas See 63% Rent Surge in Q1 2024 The Mohammed bin Rashid Housing Establishment’s Executive Director, Omar Hamad Bushahab, formed a committee to handle support requests from affected residents. The committee prioritizes the maintenance and restoration of damaged homes to return residents to their normal lives as quickly as possible. Read this also : My Dubai Rent: Digital Content Creator Enjoys Dynamic Marina Apartment Living Affected residents can contact the Committee for the Care of Affected People in Dubai via WhatsApp at 0583009000. This committee includes representatives from various local authorities and will oversee all requests for assistance. To expedite the return to normalcy throughout the emirate, the committee focuses on home repairs and maintenance. Additionally, Sheikh Hamdan has instructed the Dubai Land Department and the Real Estate Regulatory Agency to work closely with real estate developers and residential complex management companies. Read this also : Dubai Developers Offer Free Repairs for Homes Damaged by Rain The authorities have committed to offering a variety of services to those affected at no extra cost. These services include providing temporary housing, food provisions in residential complexes, and pest control and sterilization services.

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Palm Jumeirah villas experience a 63% rent increase in Q1 2024

Palm Jumeirah Villas See 63% Rent Surge in Q1 2024

April 23, 2024

In the first quarter of 2024, Palm Jumeirah villas and townhouses experienced a significant increase in rent prices, according to a recent report. The area saw a 63% jump compared to the same period in 2023, reflecting its lasting appeal and high-end status. The average rent for villas and townhouses in Palm Jumeirah rose from AED 656,114 in Q1 2023 to approximately AED 1.07 million in Q1 2024, as outlined in the Espace Real Estate Q1 2024 Market Report. Read this also : My Dubai Rent: Digital Content Creator Enjoys Dynamic Marina Apartment Living Rent Growth Across Dubai Communities Several residential communities in Dubai saw notable increases in rental prices. Dubai Hills ranked second after Palm Jumeirah with a 36% increase in average rental prices, climbing from AED 238,626 to AED 325,130. Meanwhile, rental rates at The Meadows increased by 35%, going from AED 252,867 to AED 341,524. Read this also : Dubai Developers Offer Free Repairs for Homes Damaged by Rain Jumeirah Islands and Green Community both saw a 29% rise in rental prices, with Jumeirah Islands going from AED 309,114 to AED 397,769, and Green Community from AED 199,999 to AED 257,948. Additional areas such as Damac Hills (21%), Mudon (20%), and Jumeirah Golf Estates (24%) also experienced significant rental price increases. The Springs, Jumeirah Park, Arabian Ranches, and Lakes saw rises ranging from 15% to 19%. Read this also : Ajman Real Estate Transactions Hit $1.71 Billion in Q1 2024 Some communities experienced more moderate growth, while most witnessed double-digit increases. Victory Heights and Arabian Ranches 3 saw the smallest growth rates at 4% and 5%, respectively, while Emirates Hills, Arabian Ranches 2, Town Square, Al Furjan, and Mira/Reem registered increases between 11% and 12%. Dubai’s Thriving Rental Market Dubai’s robust rental market showcases the city’s ongoing appeal as a leading global hub for business, travel, and luxury living. Landlords have been able to capitalize on sustained demand for premium residential properties by adjusting rental rates in line with these trends.

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