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Understanding Tenant Rights: Security Deposit Deductions in Dubai Real Estate

My Dubai Rent: Digital Content Creator Enjoys Dynamic Marina Apartment Living

April 23, 2024

The vibrant energy and lively atmosphere of Dubai Marina attracted a young couple of digital content creators to make it their home. Zhale Rousta, a digital content creator, fell in love with the neighborhood upon her first visit to Dubai in 2007. She and her husband, Nima Farahbakhsh, relocated to the UAE from Rasht, a coastal city in Iran, around a year ago. Read this also : Dubai Developers Offer Free Repairs for Homes Damaged by Rain After living in Business Bay near Burj Khalifa, the couple moved to Dubai Marina a month ago. They appreciate the area for its dynamic vibe and urban energy. The 32-year-old content creator, known for her home decor and food videos, told The National that their two-bedroom apartment in the Marina is the ideal choice for them. Read this also : Ajman Real Estate Transactions Hit $1.71 Billion in Q1 2024 Exploring the Marina Lifestyle Zhale enjoys working from cafes, and the location is perfect for her needs. The building’s direct access to Marina Walk offers her numerous options for cafes and restaurants. She finds inspiration from the lively surroundings and enjoys sitting and observing the hustle and bustle of people passing by. It enhances her creativity and mood. Read this also : A partnership between Aldar and Siemens makes Saadiyat Grove Abu Dhabi’s leading smart project From the apartment’s balcony, she can watch the metro, tram, cars, and boats passing by, creating a calming and meditative experience. Why the Marina? Having visited Dubai 17 years ago, Zhale has always loved the Marina area. When the couple moved to Dubai a year ago, they initially settled in Business Bay but had been saving up to live in Dubai Marina. After years of admiration, they finally found themselves living in the Marina area. Read this also : UAE: Emaar Offers Free Repairs for Homes Damaged by Rain Is it value for money? The couple pays Dh110,000 for a spacious two-bedroom apartment with a large balcony and kitchen. Zhale fell in love with the building due to its large windows, which provide ample natural light for her cooking videos on YouTube. The apartment features ample wardrobe space, two bathrooms with showers, and a cozy living room with large windows offering stunning views. The bedrooms also have views of the water, making it excellent value for the cost. Personalizing the Apartment As a student of architecture, Zhale took the lead in designing the apartment with a mix of neutral colors, sharp accents, and an abundance of plants. She decorated with unique lamps from a friend in Iran, creating a warm and inviting atmosphere. Other Benefits of Living in Dubai Marina Zhale and Nima’s content creation work benefits from the abundant natural light in the apartment. Despite the bustling neighborhood, the apartment remains quiet and comfortable once the windows are closed, providing them with a peaceful sanctuary.

Ajman Real Estate Transactions Hit $1.71 Billion in Q1 2024

Dubai Developers Offer Free Repairs for Homes Damaged by Rain

April 23, 2024

In the wake of last week’s heavy rainfall in Dubai, developers have taken proactive steps to support their communities by covering the cost of repairs for properties affected by flooding and damage. Private real estate developer MAG is extending its assistance to customers impacted by the inclement weather. MAG announced that it will cover all costs associated with repairing affected residences within its developments. Read this also : Ajman Real Estate Transactions Hit $1.71 Billion in Q1 2024 “Given the unprecedented weather conditions in the UAE, we are committed to standing by our customers during these difficult times,” said Talal Moafaq Al Gaddah, CEO of MAG Lifestyle Development. “The resilience of our residents, coupled with government support, motivates us to provide the necessary aid.” Read this also : A partnership between Aldar and Siemens makes Saadiyat Grove Abu Dhabi’s leading smart project MAG has successfully completed several projects, including Emirates Financial Towers, MAG 214, MAG 218 apartments, MAG 5 residences, and more. Ongoing projects include Keturah Reserve Townhouses, Keturah Reserve Residences, The Ritz-Carlton Residences, and Keturah Resort. Emaar Properties announced on Friday that it will offer free repairs to all properties in its Dubai communities affected by the heavy rainfall. Read this also : UAE: Emaar Offers Free Repairs for Homes Damaged by Rain “Emaar will undertake the repairs of all damaged properties within our communities at its own expense, ensuring residents can quickly resume their daily routines,” stated Mohamed Alabbar, chairman of Emaar Properties. Minimal Damage Dubai’s largest private developer, Damac Properties, pledged to continue assessing damage and assured residents that their properties are fully insured. If necessary, Damac will assist stakeholders with in-depth analyses and procedures. Read this also : The Surge of HNWI Expected to Propel Dubai’s Ultra-Luxury Real Estate to New Heights Damac reported no major structural damage and stated that preventive measures such as regular maintenance of power, fire safety, and alarm systems had safeguarded residents and their properties. The developer collaborated with local authorities to restore normalcy in the communities shortly after the storm’s impact, minimizing disruptions for residents. “I want to thank our community for their patience as we work towards restoring normality,” said Mohammed Tahaineh, general manager of projects at Damac. Read this also : Dubai Developers Offer Free Repairs for Homes Damaged by Rain With the support of the Dubai Police, Dubai Municipality, RTA, Dubai Rescue Center, Dewa, Civil Defense, and other government agencies, nearly a thousand Damac workers participated in relief efforts.

Ajman Real Estate Transactions Hit $1.71 Billion in Q1 2024

April 23, 2024

In the first quarter of 2024, Ajman’s real estate sector saw a total transaction value of AED 4.3 billion, marking an impressive 26.6% growth compared to the same period in 2023. Read this also : A partnership between Aldar and Siemens makes Saadiyat Grove Abu Dhabi’s leading smart project Sheikh Abdulaziz bin Humaid Al Nuaimi, the Chairman of the Department of Land and Real Estate Regulation in Ajman, highlighted the robust performance of the real estate market as a testament to the emirate’s strong economic vision and its dedication to nurturing a dynamic and competitive economy. Read this also : UAE: Emaar Offers Free Repairs for Homes Damaged by Rain The Ajman Real Estate Investment Exhibition played a pivotal role in boosting market activity and fostering positive results. During the exhibition, 336 real estate transactions were finalized, totaling AED 195.8 million. This reflects the confidence investors have in Ajman’s real estate market, driven by the emirate’s appealing investment opportunities, innovative projects, and diverse prospects. Read this also : The Surge of HNWI Expected to Propel Dubai’s Ultra-Luxury Real Estate to New Heights

A partnership between Aldar and Siemens makes Saadiyat Grove Abu Dhabi’s leading smart project

April 22, 2024

Aldar Properties (Aldar) has formed a partnership with Siemens to develop Saadiyat Grove, an innovative mixed-use project in Abu Dhabi’s cultural district. The collaboration aims to transform Saadiyat Grove into a leading example of smart urban living worldwide. The agreement was signed during the World Future Energy Summit (WFES) in Abu Dhabi. Read this also : UAE: Emaar Offers Free Repairs for Homes Damaged by Rain Aldar will implement the UAE’s first cloud-based smart district management system at Saadiyat Grove using Siemens’ Xcelerator portfolio and Building X platform. This project represents the largest global investment in smart technology within a mixed-use real estate development. Aligned with Aldar’s Net Zero Plan, the smart district management system will support emission reductions through advanced energy analytics. It will also offer residents an eco-conscious lifestyle with personalized health-focused experiences. AI technologies will enhance safety and security while enabling predictive maintenance, and Internet of Things sensors will monitor air quality and noise levels. The platform will track asset lifecycles and include digital twins of the district to optimize operational efficiency. Read this also : The Surge of HNWI Expected to Propel Dubai’s Ultra-Luxury Real Estate to New Heights The system’s application will streamline asset management, ensuring top-quality living conditions for residents and maximizing productivity for business tenants. By incorporating these solutions, Aldar will achieve centralized monitoring, secure data management, and consistent quality and operational standards across its portfolio. Jonathan Emery, CEO of Aldar Development, said, “Introducing the UAE’s first cloud-based district management solution at Saadiyat Grove marks a significant milestone in deploying digital technology at scale in real estate. Our partnership with Siemens aligns with Aldar’s commitment to innovative sustainable living solutions and meaningful emission reductions. Implementing this system at Saadiyat Grove sets a new benchmark for smart living in Abu Dhabi, with plans to expand its use across the Saadiyat Cultural District and beyond.” Read this also : Dubai Developers Offer Free Repairs for Homes Damaged by Rain Helmut von Struve, CEO of Siemens in the Middle East and UAE, added, “We are honored to partner with Aldar on this pioneering project. By leveraging Siemens Xcelerator, Aldar will efficiently manage its portfolio while providing residents and visitors with a safe and comfortable environment.” Saadiyat Grove, located in Abu Dhabi’s Cultural District, serves as a model for intelligent and sustainable development domestically and globally. The project includes a business park with four Grade A commercial office buildings and a net leasable area (NLA) of approximately 26,000 sqm. Additionally, Saadiyat Grove’s retail space covers 78,000 sqm of net leasable area, featuring community retail spaces, two retail boulevards, and a central shopping hub introducing new experiential dining, entertainment, and retail concepts to the emirate.

UAE: Emaar Offers Free Repairs for Homes Damaged by Rain

April 22, 2024

Emaar Properties has announced its intention to provide free repairs for homes within its Dubai communities that were impacted by the intense rains earlier this week. In response to the adverse weather conditions and heavy rains experienced in Dubai, Mohamed Alabbar, chairman of Emaar Properties, stated, “Emaar will undertake the repair of all properties within our communities damaged by the recent rains, ensuring residents can return to their daily lives swiftly and smoothly.” Read this also : The Surge of HNWI Expected to Propel Dubai’s Ultra-Luxury Real Estate to New Heights Emaar’s communities have seen thousands of residents affected by the unprecedented rains, and this initiative aims to offer relief and support during this challenging time. Alabbar emphasized the developer’s ongoing commitment to assisting the community whenever necessary. “We commit to offering all possible support, including comprehensive repair of our customers’ homes,” he said. Emaar’s facility and community management teams have been working tirelessly around the clock since the rains began on Tuesday, addressing water-clogging issues and offering immediate solutions. Read this also : Dubai Developers Offer Free Repairs for Homes Damaged by Rain “The teams have been actively managing the challenges, such as clearing water-clogged areas, and continue to work diligently to provide resolutions. Building on this effort, we are pleased to announce an initiative to repair all homes within our communities affected by the recent severe weather in Dubai, at no cost to residents,” said Alabbar. Emaar Properties, the largest master developer in the UAE, operates out of Dubai and is known for iconic projects such as The Valley, Dubai Marina, Arabian Ranches, Emaar South, Dubai Hills Estate, Dubai Creek Harbour, Downtown Dubai, and Address Residences Zabeel. Read this also : Discover Dubai’s Waterways: Affordable Ferry Rides from Dh5 Since 2002, Emaar has delivered approximately 108,000 residential units across Dubai and international markets. With over 8,700 keys, the company manages 34 hotels and resorts. Emaar’s retail, leisure, and hotel and retail subsidiaries account for 46% of its total revenue. Among Emaar’s most esteemed properties are the world-famous Dubai Mall and the Burj Khalifa, the tallest building in the world.

The Surge of HNWI Expected to Propel Dubai’s Ultra-Luxury Real Estate to New Heights

April 22, 2024

Dubai’s real estate market is on an extraordinary upswing, driven by a substantial increase in capital inflows during the first quarter. It is projected that by 2025, high-net-worth individuals (HNWI) will contribute to a 24.6% increase in Dubai’s real estate market, propelling the ultra-luxury segment to unprecedented levels. In the first quarter, the residential real estate market in Dubai reached $110 billion, boosted by a 55% rise in investment inflows, with 42% of new investors coming from international markets, according to Springfield Properties’ Q1 2024 Market Insights Report. Springfield Properties is a leading real estate brokerage in Dubai. Read this also : Dubai Developers Offer Free Repairs for Homes Damaged by Rain “Building on the record-breaking success of 2023, Dubai’s residential market continued its upward trend in Q1 2024, with an impressive 37,134 transactions totaling $109.8 billion. This positive trajectory is set to intensify further with the waiver of the Dh1 million minimum down payment requirement for golden visa eligibility through real estate investment,” the report stated. Read this also : Discover Unique Animal Encounters Across the UAE – Tickets Starting at Dh10 “The first quarter of 2024 marked a significant milestone in Dubai’s real estate landscape with a notable rise in sales, reflecting strong investor confidence and market liquidity crucial for sustaining growth and competitiveness,” said Farooq Syed, CEO of Springfield Properties. “Our report underscores a growing demand for off-plan properties, indicating a strategic shift in investment preferences and highlighting the sector’s potential for capital appreciation and yield generation,” he added. Read this also : Progress Update: Infinity Towers’ Mixed-Use Tower Nears Completion in Egypt’s Administrative Capital The balance between off-plan and secondary market sales in this quarter highlights a mature and diverse real estate landscape, showcasing investor confidence and market stability. Dubai’s strategic focus on regulatory frameworks and continuous infrastructure enhancements has significantly boosted the city’s attractiveness. Combined with market insights, these factors solidify Dubai’s status as a prime destination for investors seeking long-term value and growth opportunities. Read this also : Ras Al Khaimah Real Estate: Exploring the Most Exclusive Neighborhoods According to a separate study by ValuStrat, the rate of capital growth in the apartment market is gradually aligning with that of the villa market. ValuStrat’s Price Index (VPI) revealed a 24.7% annual increase and 2.1% monthly increase in Dubai’s residential capital values in March, reaching 167.5 points. Comparing to the January 2021 baseline of 100 points, villas scored 211 points and apartments scored 139.2 points. Read this also : Indian Investors Propel Growth in Dubai’s Property Market, Fueled by 5-Year Visas Month-over-month, apartment prices rose by 1.9%, achieving a record annual growth of 20.1%. Conversely, capital gains on villas were up by 2.4% from February last year and 29.6% from the prior year. Discovery Gardens saw the highest annual growth in apartment capital at 32.6%, followed by Town Square (24.5%), The Views (24.8%), Palm Jumeirah (29%), and The Greens (29.8%). Read this also : UAE Ranks Among Top Countries for Launching Businesses in 2024 Palm Jumeirah apartments have experienced an exceptional growth rate of 83.6%, outpacing The Greens (55.2%) and Jumeirah Beach Residence (52.2%). Villas in prominent communities like Palm Jumeirah and Jumeirah Islands are experiencing rapid growth, up 37.7% from the previous year. Other areas such as Arabian Ranches (29.2%), Mudon (30.2%), and Dubai Hills Estate (34.8%) also demonstrate strong growth. Read this also : UAE Pass Revolutionizes Access to Property Ownership Deeds in Sharjah Palm Jumeirah (125.7%) and Jumeirah Islands (143.5%) recorded the highest villa growth rates since January 2021. Fifteen ready properties valued at more than Dh30 million were sold in Jumeirah Bay Island, Palm Jumeirah, Emirates Hills, Jumeirah Golf Estates, and Dubai Hills Estate. Off-plan Oqood (contract) registrations saw an 18.2% monthly growth, representing a 14% annual increase. In March 2024, Emaar led Oqood transactions at 14.9%, followed by Sobha (5.6%), Azizi (6%), and Damac (10.9%). Read this also : New Procedure for Dubai Landlords Seeking Rent Re-Evaluation Top transacted off-plan locations included Jumeirah Village Circle (10.9%), Zabeel First (6%), Meydan One (5.7%), and Business Bay (5.6%). Ready-to-move-in sales were dominated by Jumeirah Village Circle (9.3%), followed by Business Bay (7.4%), Dubai Marina (6%), and Downtown Dubai (5.3%).

Dubai Developers Offer Free Repairs for Homes Damaged by Rain

April 22, 2024

In a display of community support, real estate developers in Dubai have stepped up to assist residents affected by last week’s severe rainstorm. The heavy rainfall led to extensive flooding, damage to cars, and property destruction across the city. Developers have committed to covering the cost of repairs for impacted residents, easing the burden on those dealing with the aftermath of the storm. Read this also : Discover Unique Animal Encounters Across the UAE – Tickets Starting at Dh10 Private real estate developer MAG announced its intention to support customers affected by the recent heavy rains. The company pledged to cover the full cost of necessary repairs for affected residents across its residential developments. “Given the exceptional weather conditions in the UAE earlier this week, it is our responsibility to stand by our customers during these challenging times. The resilience of our residents and the support of the wise government inspire us to extend our help to those in need,” said Talal Moafaq Al Gaddah, CEO of MAG Lifestyle Development. Read this also : Discover Dubai’s Waterways: Affordable Ferry Rides from Dh5 MAG has completed several projects, including Emirates Financial Towers, MAG 214, MAG 218 apartments, and MAG 5 residences. Current projects include Keturah Reserve Townhouses, Keturah Reserve Residences, The Ritz-Carlton Residences, and Keturah Resort. Emaar Properties also announced it would provide free repairs for all homes in its communities in Dubai that were affected by the heavy rains. Read this also : Progress Update: Infinity Towers’ Mixed-Use Tower Nears Completion in Egypt’s Administrative Capital “Emaar will take care of repairs for all properties within our communities that have suffered damage from the recent rains at our own cost. We aim to help residents return to their daily lives as quickly and smoothly as possible,” stated Mohamed Alabbar, chairman of Emaar Properties. Despite the challenges, Damac Properties reported no significant structural damage and ensured residents their properties are fully covered by insurance. The developer promised to assist stakeholders with detailed analyses and procedures as needed. Read this also : Progress Update: Infinity Towers’ Mixed-Use Tower Nears Completion in Egypt’s Administrative Capital Damac emphasized its collaboration with local authorities to restore normalcy in its communities shortly after the storm. “As we work towards welcoming a return to normal, I want to thank our community for their patience,” said Mohammed Tahaineh, general manager of projects at Damac. With support from the Dubai Police, Dubai Municipality, RTA, Dubai Rescue Center, Dewa, Civil Defense, and other government agencies, nearly one thousand Damac employees participated in the relief efforts to help residents and restore order.