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Record-Breaking Real Estate Transactions Forecasted for Sharjah's Central and Eastern Regions in 2023

Record-Breaking Real Estate Transactions Forecasted for Sharjah’s Central and Eastern Regions in 2023

February 7, 2024

In 2023, real estate transactions worth $326.7 million are expected to occur in the Central and Eastern Regions of Sharjah, marking a significant increase from previous years. According to the annual report from the Sharjah Real Estate Registration Department, the Central and Eastern Regions witnessed AED 1.2 billion in real estate transactions in 2023, compared to AED 1 billion in 2022. Read this also : Dubai Real Estate Market Soars with Dh35.4 Billion January 2024 Sales The branches of the department located in the Central Region, as well as the cities of Khor Fakkan, Dibba Al-Hisn, and Kalba, managed these transactions across 114 areas, totaling 26,172 real estate transactions. During the same period, these four branches collectively accounted for 4.4% of all real estate trading in Sharjah. The Central Region branch recorded transactions worth AED 554 million, while the Khor Fakkan city branch recorded transactions worth AED 360 million. Additionally, the Dibba Al-Hisn branch recorded transactions worth AED 21 million, and the Kalba branch recorded transactions worth AED 265 million. Read this also : Simplify Your Bill Payments: A Guide to Setting Up Autopay for Utility Bills in Dubai Omar Al-Mansouri, Director of the Branches Department at the Sharjah Real Estate Registration Department, attributed the continued growth in the real estate sector to government policies and procedures, along with the availability of diverse investment options. He emphasized the attractiveness of both regions for real estate development projects, with the Eastern Region hosting projects offering sea and mountain views, and the Central Region featuring significant industrial real estate projects. Read this also : Discovering Dubailand: A Comprehensive Area Guide Al-Mansouri highlighted the breakdown of real estate transactions by branch, with Kalba, Khor Fakkan, the Central Region, and Dibba Al-Hisn witnessing 7,636, 7,342, 6,670, and 4,524 transactions, respectively. Furthermore, Al-Mansouri reported that sales transactions totaling approximately AED 700 million were conducted in the Central and Eastern Regions, with 872 transactions spread across 114 regions. The Central Region saw 434 transactions valued at about AED 400 million, with “Al-Madina Al-Qasimia” accounting for the majority of sales. Read this also : Dubai Real Estate Market Forecasted to Grow by 5% in 2024 In Kalba, there were 224 sales transactions worth AED 145 million, while Khor Fakkan witnessed 193 sales transactions valued at about AED 140 million. Dibba Al-Hisn recorded 21 sales transactions totaling AED 14 million, with the majority occurring in the “Hay Al-Shamali” area. Overall, the report underscores the significant growth and diversity in real estate transactions across the Central and Eastern Regions of Sharjah, reflecting a positive outlook for the sector.

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Dubai Real Estate Market Soars with Dh35.4 Billion January 2024 Sales

Dubai Real Estate Market Soars with Dh35.4 Billion January 2024 Sales

February 7, 2024

Dubai’s real estate sector has ignited the new year with a bang, boasting a record-breaking Dh35.4 billion in sales for January 2024. This impressive achievement signals a robust trajectory for the industry, driven by escalating demand for off-plan properties and sustained momentum from the preceding year. Read this also : Simplify Your Bill Payments: A Guide to Setting Up Autopay for Utility Bills in Dubai In a significant uptick, January 2024 witnessed a remarkable 27% surge from Dh27.9 billion in January 2023, highlighting a consistent upward trend in recent times. According to insights from Property Finder, the number of recorded sales transactions soared by 17% year over year, surpassing 11,000 transactions compared to 8,712 in January 2023. Read this also : Discovering Dubailand: A Comprehensive Area Guide Cherif Sleiman, Chief Revenue Officer at Property Finder, underlined the positive momentum carried forward from the previous year, indicating promising prospects for sustained success in 2024. Sleiman noted a substantial increase in off-plan activity, reflecting heightened demand for new projects and evolving consumer preferences within the dynamic real estate landscape. Off-plan transactions surged to approximately 6,000, marking a 25% year-over-year volume increase, with values reaching around Dh15 billion, up 21% from Dh12.2 billion in January 2023. Read this also : Dubai Real Estate Market Forecasted to Grow by 5% in 2024 A report from Zazen Properties underscores the pivotal role of the robust off-plan real estate market in propelling the UAE’s overall market to Dh455.7 billion in sales in 2023. Anticipating continued demand outstripping supply, particularly as Dubai’s population growth remains among the world’s fastest, the off-plan sector is poised to drive market growth in 2024 and beyond. Dubai’s vibrant tourism industry buoyed domestic demand in 2023, propelling the city’s sales value to Dh160.46 billion, a substantial 72.3% increase from Dh93 billion in 2022. Read this is also : Understanding Tenant Rights: Can a Real Estate Company Deduct from Your Security Deposit? Data from Property Finder reveals the preference trends among prospective buyers and renters. Approximately 58% of buyers sought apartments, while 42% looked for villas or townhouses. In the rental market, 20% preferred villas or townhouses, while 80% opted for apartments. Prime locations for apartment ownership include Dubai Marina, Downtown Dubai, Jumeirah Village Circle, Business Bay, and Palm Jumeirah, while sought-after areas for villas and townhouses include Dubai Hills Estate, Arabian Ranches, Palm Jumeirah, Al Furjan, and Damac Hills properties. Read this also : Revolutionizing Park Entry: Dubai’s Smart Ticketing System Unveiled With over 5,000 property transactions recorded, representing an approximate 8.0% increase in volume year over year, the total value of transactions surged by 31% annually to Dh21 billion in January 2024 from Dh15.7 billion in January 2023. The robust performance of Dubai’s real estate market in January 2024 underscores its resilience and attractiveness to investors, setting a promising tone for the year ahead.

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Simplify Your Bill Payments: A Guide to Setting Up Autopay for Utility Bills in Dubai

Simplify Your Bill Payments: A Guide to Setting Up Autopay for Utility Bills in Dubai

February 6, 2024

Tired of missing utility bill due dates? Say goodbye to late payments with the ‘Dubai Now’ app’s autopay feature. Recently announced by the Dubai Digital Authority, this innovative solution ensures you never miss a payment again. Read this also : Discovering Dubailand: A Comprehensive Area Guide Accessible on both Apple and Android devices, the ‘Dubai Now’ app offers a seamless experience developed by the esteemed Digital Dubai Authority. With over 170 government and private services available, including bill payments for electricity, water, Salik recharge, and Nol card top-ups, managing your bills has never been easier. Read this also : Dubai Real Estate Market Forecasted to Grow by 5% in 2024 To activate autopay for your utility bills, follow these simple steps: Log in to the ‘Dubai Now’ app using your UAE Pass account, the official digital identity for individuals in the UAE. Navigate to the profile section and add your payment details, either by entering credit card information or linking your digital wallet. Once your payment details are added, select the utility bill you wish to set up autopay for and choose the autopay schedule. Set a maximum limit for autopay to avoid unexpected bill payments. Update your settings and enjoy the convenience of automatic bill payments. Read this also : Understanding Tenant Rights: Can a Real Estate Company Deduct from Your Security Deposit? With autopay enabled, you can rest assured knowing your bills will be paid on time. Plus, the app’s user-friendly interface makes it easy to monitor your payments and adjust settings as needed. In the event of unusually high bills, the app provides access to tools like Dewa’s Consumption Assessment Tool, empowering you to better understand and manage your electricity and water consumption. Read this also : Experience the Magic: Dhai Dubai Light Art Festival Illuminates Expo City Dubai for a Limited Time Read this also : Understanding Tenant Responsibilities: Service Charges and RERA Registration Fees in Dubai Streamline your bill payments today with the ‘Dubai Now’ app and experience a hassle-free approach to managing your finances. Don’t let bill payments stress you out. Download the ‘Dubai Now’ app and take control of your finances today!

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Discovering Dubailand: A Comprehensive Area Guide

Discovering Dubailand: A Comprehensive Area Guide

February 6, 2024

Dubailand stands as a sprawling residential development and vibrant tourist destination, spanning a vast expanse of 3 million square feet. Within its expansive grounds lie numerous districts, each offering its unique charm and attractions. From the prestigious Al Habtoor Polo Resort & Club to the serene Layan and Majan communities, Dubailand encompasses an array of residential havens, including FalconCity of Wonders, Living Legends, Villanova, Rukan, Tiger Woods, and Al Waha, among others. Notably, ongoing multi-billion-dollar projects such as DAMAC Hills underscore Dubailand’s commitment to growth and innovation. Invest in Dubai Real Estate : Click here to See All the Properties for Sale in Dubai to Invest Read this also : Dubai Real Estate Market Forecasted to Grow by 5% in 2024 Originally launched by Tatweer, Dubailand is now under the stewardship of Dubai Properties Group, driving forward a vision of urban excellence and community development. While some projects have branched out and forged their identities, Dubailand remains a beacon of opportunity and lifestyle choice in Dubai’s dynamic real estate landscape. Beyond its residential offerings, Dubailand boasts a vibrant tapestry of leisure and recreational amenities. From the iconic Dubai Miracle Garden, featuring over 150 million flowers, to the multicultural extravaganza of Global Village, there’s no shortage of entertainment options for residents and visitors alike. Thrill-seekers can immerse themselves in the adrenaline-pumping attractions of IMG Worlds of Adventure, while nature enthusiasts can wander through the enchanting Dubai Butterfly Garden, claimed to be the world’s largest covered butterfly sanctuary. Read this also : Understanding Tenant Rights: Can a Real Estate Company Deduct from Your Security Deposit? For automotive enthusiasts, the Dubai Autodrome offers a thrilling experience on its FIA-sanctioned motorsports circuit. Additionally, the region’s first oddity museum, Ripley’s Believe It Or Not, provides a fascinating glimpse into the extraordinary. Dubailand’s appeal extends beyond its recreational offerings to encompass educational and healthcare facilities. Residents benefit from proximity to esteemed educational institutions such as The Aquila School and Fairgreen International School, as well as world-class healthcare services provided by clinics and hospitals like Ace Medical Centre and Sulaiman Faqeeh Hospital. Read this also : Revolutionizing Park Entry: Dubai’s Smart Ticketing System Unveiled While Dubailand continues to evolve and expand, offering an affordable yet vibrant lifestyle, it’s worth noting that the community is still under construction. However, with its strategic location just off Sheikh Mohammed Bin Zayed Road and proximity to key landmarks such as Mall of the Emirates and Burj Al Arab, Dubailand remains a promising destination for those seeking a dynamic and enriching living experience in Dubai. As the beating heart of Dubai’s real estate market, Dubailand beckons with boundless opportunities for growth, investment, and lifestyle enrichment. Whether you’re drawn to its thriving residential communities, diverse leisure offerings, or educational and healthcare amenities, Dubailand promises an unparalleled living experience at the intersection of luxury and convenience.

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Dubai Real Estate Market Forecasted to Grow by 5% in 2024

Dubai Real Estate Market Forecasted to Grow by 5% in 2024

February 6, 2024

Dubai continues to stand out as a prime destination for investors seeking lucrative returns and portfolio diversification within its robust real estate market, which remains vibrant and dynamic. Read this also : Understanding Tenant Rights: Can a Real Estate Company Deduct from Your Security Deposit? Recent statistics reveal a staggering $100 billion influx into Dubai’s real estate sector in 2023, with projections indicating a 5% growth   Invest in Dubai Real Estate : All  Properties for Sale Here :   trajectory for 2024, as stated by Bas Kooijman, CEO and Asset Manager of DHF Capital S.A. Furthermore, the United Arab Emirates’ economy is poised to expand by 4.5%. The anticipated economic upswing in the UAE is expected to buoy various sectors, with Dubai’s real estate market leading the charge. Dubai’s real estate landscape witnessed remarkable growth in 2023, cementing its status as an investment powerhouse. Transaction volumes surged, boasting a notable 36.7% increase in property values. Read this also : Revolutionizing Park Entry: Dubai’s Smart Ticketing System Unveiled Fueled by a substantial 33.8% surge in transactions, the industry achieved a record-breaking year with 116,116 real estate deals valued at $429.67 billion. Kooijman underscored the bullish prospects for Dubai’s residential real estate segment, forecasting an impressive 15% growth rate by 2024. He highlighted the potential for astute investors to capitalize on capital appreciation within the UAE’s stable and diversified economy, courtesy of Dubai’s thriving real estate market. Read this also : Understanding Tenant Responsibilities: Service Charges and RERA Registration Fees in Dubai “Dubai’s real estate landscape offers unparalleled opportunities for investors seeking diverse real estate ventures,” Kooijman remarked. One of the significant advantages of investing in Dubai’s real estate market is the potential for substantial rental income. Kooijman noted that the city offers attractive returns on investment, with annual yields reaching up to 10%. Comparatively, rental yields in other major markets such as New York and London are notably lower. For investors aiming to maximize their returns, Dubai presents an appealing destination due to the availability of competitively priced properties offering high annual rental yields, translating to profit margins ranging from 5% to 9%. This presents an enticing proposition for investors seeking lucrative opportunities in a flourishing real estate market poised for sustained growth.

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Understanding Tenant Rights: Can a Real Estate Company Deduct from Your Security Deposit?

Understanding Tenant Rights: Can a Real Estate Company Deduct from Your Security Deposit?

February 5, 2024

Exploring the legal aspects of tenant-landlord relationships in Dubai, the situation falls within the framework of Law No. 26 of 2007. This law governs the dynamics between lessors and lessees in the Emirate of Dubai, shedding light on the often-debated topic of security deposit deductions. Read this also : Revolutionizing Park Entry: Dubai’s Smart Ticketing System Unveiled In Dubai, landlords, or their authorized representatives, have the right to collect security deposits at the commencement of a lease. These deposits serve as a financial safeguard for potential maintenance expenses upon the lease’s termination. However, the responsibility lies with the landlord or their representative to refund the security deposit, or any remaining portion, to the tenant at the lease’s end. Article 20 of the Dubai Tenancy Law explicitly states: Read this also : Understanding Tenant Responsibilities: Service Charges and RERA Registration Fees in Dubai “The lessor may, upon concluding the lease, receive from the lessee a security to ensure the maintenance of the property upon termination of the lease period, provided the lessor shall refund such security or remaining part thereof to the lessee upon termination of lease.” Real estate management companies may consider deducting costs for necessary maintenance post-lease termination. Article 21 of the Dubai Tenancy Law elaborates on the tenant’s responsibility to return the property in its original condition, barring normal wear and tear or damage beyond their control. Disputes on this matter can be referred to the Rental Disputes Centre (RDC) in Dubai, as specified in Article 21: Read this also : Unlocking the Gateway to Generational Wealth: Understanding Property Transfers to Family Members in Dubai “Lessee shall, upon termination of the lease, hand over the property to the lessor in the condition in which he received it at the time of leasing except for normal tear and wear or whatever was out of his control. In case of conflict between the parties in this regard, the issue shall be referred to the committee to decide thereon.” The term “committee” refers to the RDC, the authorized judicial committee for resolving lessor-lessee disputes. Read this also : Experience the Magic: Dhai Dubai Light Art Festival Illuminates Expo City Dubai for a Limited Time Reviewing your tenancy/lease agreement’s terms and conditions regarding property maintenance is crucial. If you believe deductions are unjustified, taking professional and amicable steps is advisable: Engage in discussions with the apartment’s owner to resolve the matter amicably. If unsuccessful, refer the matter to the RDC for further resolution by registering a complaint on their website. Seek guidance from a legal practitioner in Dubai for specific advice and assistance tailored to your situation. Navigating security deposit deductions requires a thorough understanding of Dubai’s tenancy laws and proper procedural steps. Approach the resolution process respectfully and armed with knowledge to protect your tenant rights. #DubaiTenantRights #SecurityDeposit #RentalDisputes #DubaiTenancyLaw #RealEstateDubai #LegalGuidanceDubai

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Revolutionizing Park Entry: Dubai's Smart Ticketing System Unveiled

Revolutionizing Park Entry: Dubai’s Smart Ticketing System Unveiled

February 5, 2024

Experience the future of park access in Dubai with the groundbreaking smart ticketing system introduced by Dubai Municipality. Recently deployed near entrance ticket offices, these innovative machines redefine the way visitors pay for entry fees, offering seamless transactions through phones, credit cards, or debit cards. Launched initially at Safa Park in October 2023, this system has now expanded to other prominent public parks, including Zabeel Park, Mamzar Beach Park, and Creek Park. Read this also : Understanding Tenant Responsibilities: Service Charges and RERA Registration Fees in Dubai Dubai Municipality’s commitment to providing cutting-edge services is evident in this technological advancement. The smart ticketing system not only simplifies ticket purchases but also reduces reliance on physical cash transactions, promoting a secure and hygienic environment for park-goers. Read this also : Unlocking the Gateway to Generational Wealth: Understanding Property Transfers to Family Members in Dubai In an effort to enhance the visitor experience, this modernization initiative aligns with Dubai’s dedication to staying at the forefront of technological advancements. By embracing digital payment methods, the city continues to position itself as a global leader in innovation and convenience. Visitors can now enjoy the parks without the hassle of carrying cash or worrying about exact change. The introduction of the smart ticketing system revolutionizes the way individuals access major public parks in Dubai, showcasing the city’s commitment to exceptional services and technological progress. Read this also : Experience the Magic: Dhai Dubai Light Art Festival Illuminates Expo City Dubai for a Limited Time For those wondering how to pay for tickets at Dubai public parks now, the process has undergone a recent change. Previously using nol cards, visitors now receive a paper ticket with a Quick Response (QR) code. This ticket can be obtained from smart ticket machines or at the ticket counter for cash payments. To use the new smart ticket machines at Dubai public parks, follow these steps for a hassle-free experience:   Read this also : In January 2024, Abu Dhabi’s Real Estate Transactions Surpass $1.36 Billion Mark Select your preferred language on the display screen – Arabic or English. Choose the ‘Entry Tickets’ option and input the number of visitors. Press ‘Pay by Card’ and insert your credit or debit card, or use Samsung Pay, Google Pay, or Apple Pay. Once payment is approved, receive a QR code-printed receipt for entry. Dubai Public Park entry fees are as follows: Read this also : Bur Dubai Area Guide: Unveiling the Charms of Mainland Dubai Al Mamzar Beach Park: Dh5 per person or Dh30 per car Zabeel Park: Dh5 per person Creek Park: Dh5 per person Mushrif Park: Dh3 per person or Dh10 per car Safa Park: Dh3 per person Entry is free for children under two and people of determination. The Quranic Park requires payment through nol cards for attractions like the Glass House and Cave of Miracles. Explore Dubai’s parks effortlessly with the new smart ticketing system, blending convenience, innovation, and a touch of digital magic. Read this also : Dubai Office Space Market Defies Remote Work Expectations with 44,000 Square Meters of New Developments

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