On Spotlight

Read the Latest

Retal Signs $12.8 Million Agreement for Residential Buildings in Khobar

Retal Signs $12.8 Million Agreement for Residential Buildings in Khobar

January 31, 2024

In a significant development, Retal Urban Development Company and its subsidiary, Building Construction Company, have inked a SAR 48 million ($12.8 million) agreement to construct four residential buildings in Khobar’s Alsadafah district. Read this also : Ras Al Khaimah Unveils ‘RAK Central’ – The Northern Emirates’ Largest Business District As disclosed in a recent bourse filing, the agreement is set to span 20 months, commencing from the signing date on January 28, 2024. Retal underscores the favorable outcomes anticipated from the project, particularly during the execution phase in the years 2024 and 2025. This strategic move by Retal aligns with the company’s commitment to advancing urban development in the region. The Alsadafah district in Khobar is poised to witness significant growth with the addition of these residential buildings, catering to the evolving housing needs of the community. Read this also : Dubai Real Estate Achieves AED 3 Billion in Transactions on Tuesday, DLD Reports It’s noteworthy that Retal is actively involved in collaborations to drive real estate projects forward. In November 2023, the company sealed a SAR 374.76 million contract with Roshn Real Estate Company, a subsidiary of the Public Investment Fund (PIF). This collaboration reflects Retal’s dedication to engaging in ventures that contribute to the development and expansion of the real estate landscape. The timing of these agreements indicates a strategic approach by Retal, capitalizing on emerging opportunities and reinforcing its position as a key player in the urban development sector. As the projects unfold, they are expected to make a positive impact not only on the company’s growth trajectory but also on the overall real estate market in Khobar. Read this also : Luxury Living in Dubai: Branded Residences Lead the Market with 100% Rental Premiums The SAR 48 million agreement marks another milestone for Retal, showcasing its commitment to delivering high-quality residential spaces that meet the modern lifestyle demands of the Alsadafah district. Stay tuned for updates on the progress of this venture and its potential implications for the dynamic real estate scene in Saudi Arabia.

Read More »
Ras Al Khaimah Unveils 'RAK Central' - The Northern Emirates' Largest Business District

Ras Al Khaimah Unveils ‘RAK Central’ – The Northern Emirates’ Largest Business District

January 31, 2024

Ras Al Khaimah has introduced ‘RAK Central,’ heralded as the “largest commercial business district in the Northern Emirates.” Developed by Marjan, this expansive mixed-use project is set to redefine the landscape of Ras Al Khaimah and is slated to become a prominent business hub upon its expected opening in 2026. Read this also : Dubai Real Estate Achieves AED 3 Billion in Transactions on Tuesday, DLD Reports Situated on Sheikh Mohammed bin Salem Al Qasimi Street, RAK Central boasts Grade A offices with breathtaking views of the Arabian Gulf and Al Hamra Golf Club. The layout of commercial spaces has been meticulously designed to cater to the needs of anchor tenants, featuring open floor plans that allow for flexible design options. Invest in Dubai Real Estate : Click here According to a statement, RAK Central aims to evolve into Ras Al Khaimah’s largest business hub, attracting leading businesses and entities in the region to establish their headquarters. The development aligns with the vision of Ras Al Khaimah’s leadership to strengthen the business ecosystem, making it a preferred choice for residence, business, and leisure. Click to see the Rentals : Click Here Read this also : Abu Dhabi Office Sales Surge 38.7% YoY in Q4 2023, Reveals ValuStrat Report CEO of Marjan, Abdulla Al Abdouli, emphasized that RAK Central will usher in a new era of economic growth for Ras Al Khaimah, providing international investors with high-value property and serving as a pivotal hub for businesses. Key Features of RAK Central: Leased Office Space: The development will offer a substantial 3 million square feet of leased office space, catering to the needs of businesses and enterprises. Residential Units: RAK Central will feature 4,000 residential units, providing a comprehensive living experience for residents. Read this also : Luxury Living in Dubai: Branded Residences Lead the Market with 100% Rental Premiums Hotels: The district will include three hotels with over 1,000 keys, enhancing the hospitality landscape of Ras Al Khaimah. Parks and Entertainment Venues: Several parks, along with shopping and entertainment venues, will contribute to the vibrancy of the district. Construction and Development Phases: Timeline: The first phase of infrastructure and the primary business complex is scheduled for completion in Q4 2026, with construction set to commence this year. Office Space Availability: One million square feet of commercial office space will be available for rent during the initial phase, with additional space earmarked for future development. Read this also : Dubai International Financial Centre (DIFC) Area Guide: The Pinnacle of Urban Living Residential Plots: The project will offer 34 exclusive residential plots, allowing developers to erect residential towers up to 45 stories tall. Marjan, the developer behind the success of Al Marjan Island, envisions RAK Central as a world-class master-planned community, reflecting their commitment to creating future downtowns and lifestyle destinations. As Ras Al Khaimah continues to position itself as a thriving economic and lifestyle destination, RAK Central emerges as a testament to the emirate’s dedication to sustainable growth and innovation. Stay tuned for updates as this transformative project takes shape on the Northern Emirates’ skyline. Read this also : Unveiling the Charm of Motor City: Your Ultimate Area Guide

Read More »
Dubai Real Estate Achieves AED 3 Billion in Transactions on Tuesday, DLD Reports

Dubai Real Estate Achieves AED 3 Billion in Transactions on Tuesday, DLD Reports

January 31, 2024

As per the latest data released by the Dubai Land Department (DLD), Tuesday witnessed a robust performance in the Dubai real estate market, with a staggering 530 sales transactions amounting to AED 2.35 billion. In addition to these sales, the day recorded 135 mortgage deals totaling AED 564.27 million and 55 gift deals with a combined worth of AED 180.68 million. Read this also : Abu Dhabi Office Sales Surge 38.7% YoY in Q4 2023, Reveals ValuStrat Report The cumulative value of real estate transactions on this particular day surpassed AED 3 billion. This included sales transactions involving 494 villas and apartments valued at AED 1.15 billion, as well as 36 land plots with a total worth of AED 1.2 billion. The mortgage sector also played a significant role, covering 114 villas and apartments valued at AED 284.27 million, along with 21 land plots totaling AED 280 million. This notable surge in real estate activities underscores the continued strength and attractiveness of the Dubai property market. The diverse range of transactions, including sales, mortgages, and gift deals, reflects a dynamic and thriving real estate landscape. Read this also : Luxury Living in Dubai: Branded Residences Lead the Market with 100% Rental Premiums Investors and homeowners alike participated in the buoyant market, contributing to the impressive AED 3 billion in transactions. The data reveals sustained interest and confidence in Dubai’s real estate sector, showcasing its resilience and stability. As the real estate market in Dubai continues to demonstrate such robust performance, it reinforces the city’s status as a premier global destination for property investment. The Dubai Land Department’s latest figures not only highlight the financial magnitude of Tuesday’s transactions but also emphasize the ongoing vitality and potential for growth in the Dubai real estate market. Read this also : Dubai International Financial Centre (DIFC) Area Guide: The Pinnacle of Urban Living This information provides valuable insights for those monitoring the real estate landscape, and the positive trends observed on this specific day are indicative of a thriving market poised for sustained success.

Read More »
Abu Dhabi Office Sales Surge 38.7% YoY in Q4 2023, Reveals ValuStrat Report

Abu Dhabi Office Sales Surge 38.7% YoY in Q4 2023, Reveals ValuStrat Report

January 31, 2024

In a recent report by ValuStrat, it has been revealed that the sales prices of office spaces in Abu Dhabi experienced a remarkable surge of 38.7% year over year during the fourth quarter of 2023. Simultaneously, asking rents witnessed a substantial increase of 13.3%. Read this also : Luxury Living in Dubai: Branded Residences Lead the Market with 100% Rental Premiums ValuStrat’s comprehensive analysis of the Abu Dhabi real estate market highlighted Aldar Properties’ exceptional performance, achieving an impressive 97% occupancy rate across its premium Grade A commercial properties in Q4 2023. This includes its flagship buildings at Abu Dhabi Global Market (ADGM), HQ, and International Tower. Invest in Dubai Real Estate – Properties for Sale : Click Here The report underscores the robust growth observed in the market, driven by a rising demand for Grade-A office spaces. It points out that government initiatives, such as retiree visas and remote work programs, aim to attract foreign professionals and investors, providing additional support to the market’s upward trajectory. Read this also : Dubai International Financial Centre (DIFC) Area Guide: The Pinnacle of Urban Living Looking ahead to 2024, ValuStrat anticipates a stable trend in apartment prices, while freehold villa prices are expected to see a moderate increase in Abu Dhabi. ValuStrat’s insights indicate a steady growth forecast for the emirate’s real estate market in the coming year, projecting a 3%–5% rise in residential capital values. The report suggests that falling mortgage rates in 2024 may stimulate transactions, albeit with a potential slowdown in off-plan transactions. Notably, Q4 2023 witnessed a 6.4% YoY increase in rental values and a 4.2% YoY increase in residential capital values. Read this also : Unveiling the Charm of Motor City: Your Ultimate Area Guide The report foresees notable improvements in key performance indicators, anticipating a return to pre-pandemic levels, if not surpassing them, in the hospitality sector. Occupancy rates increased by 3% YoY from January to October 2023, reaching an impressive 74%. Searching for Real Estate Rentals : Click Here Furthermore, in the hospitality sector, revenue per available room soared by 26%, reaching AED 309, while the average daily rate increased to AED 420 ($114.36), marking a significant 23% YoY increase. Read this also : Al Qusais Dubai Area Guide: Unveiling the Rich Heritage and Modern Living This latest report from ValuStrat not only sheds light on the remarkable growth in Abu Dhabi’s real estate market but also provides valuable insights that position the emirate as an attractive destination for investors and professionals alike. As the market continues to evolve, these findings are indicative of a positive outlook, further emphasizing Abu Dhabi’s resilience and attractiveness in the global real estate landscape.

Read More »
Luxury Living in Dubai: Branded Residences Lead the Market with 100% Rental Premiums

Luxury Living in Dubai: Branded Residences Lead the Market with 100% Rental Premiums

January 30, 2024

In Dubai, the allure of branded residences has sparked a real estate boom, with rents soaring up to 100% higher than non-branded counterparts. The driving force behind this surge lies in the opulent amenities offered by these exclusive developments and the growing demand from affluent buyers seeking premium living experiences. Read this Also : Dubai International Financial Centre (DIFC) Area Guide: The Pinnacle of Urban Living Industry insiders reveal that luxury and branded homes in Dubai are positioned for substantial price increases compared to other segments of the market. The influx of high-net-worth individuals, choosing Dubai as a long-term residence rather than a transitional market, marks a pivotal shift in the real estate landscape. Please Visit Us for Investing in Dubai Real Estate : Properties for Sale Here : Click Here Read this also : Unveiling the Charm of Motor City: Your Ultimate Area Guide Lewis Allsopp, Chairman of Allsopp & Allsopp, notes, “Investors, landlords, and tenants are in agreement regarding the rental premiums for high-quality branded residences.” These contemporary living spaces boast luxurious amenities, allowing them to command rental premiums of up to 100% higher than their non-branded counterparts in similar locations. Read this also : Al Qusais Dubai Area Guide: Unveiling the Rich Heritage and Modern Living Dubai has witnessed a flurry of branded residence launches by local developers such as Binghatti Properties, Danube Properties, RSG Group, and Rove, responding to the surge in demand from the world’s affluent elites. The likes of Burj Binghatti Jacob & Co., Bugatti Residences, and Mercedes-Benz Places have further solidified Dubai’s position at the top of global real estate rankings. Read this also : Unveiling Reem Hills: Abu Dhabi’s Premier AED 8 Billion Gated Community Allsopp predicts a continued strong performance in the Dubai rental market for landlords and investors until 2025–2027 when ready off-plan rental units are expected to meet the current demand levels. He emphasizes that luxury homes offer greater potential for price increases compared to the broader market, driven by a combination of limited supply and high demand. Please Visit us for Investing in Dubai Real Estate : Properties for Rent Here : Click to See All the Properties  Knight Frank’s data underscores Dubai’s ascent as the top city globally for $10 million-plus homes, with 431 luxury homes sold last year, surpassing major cities like New York, London, Hong Kong, and Los Angeles. Allsopp anticipates sustained capital appreciation and high rental yield opportunities in Dubai’s most desirable locations. Chris Whitehead, Managing Partner of Dubai Sotheby’s International Realty, highlights that Dubai’s appeal to high-net-worth individuals has grown, citing factors such as no real estate tax, quality properties, value for money, cleanliness, and retail offerings. The super-luxury homes in Dubai, fetching record prices of $4,000 per square foot, set consecutive year-over-year increases since 2020. Please Visit us for Investing in Dubai Real Estate for the Highest Capital Appreciation : Click here to for the Latest and Upcoming Off-Plan Project in Dubai.  Whitehead envisions continued high demand for luxury real estate, fueled by political unrest in some Middle Eastern nations, drawing buyers to Dubai for its stability and safety. The scarcity of prime land in Dubai and a preference for beach lifestyles contribute to pushing market prices higher. In a market where Dubai’s trophy-asset real estate is deemed undervalued, Whitehead emphasizes the uniqueness and customization sought by buyers, who are willing to pay a premium for turnkey properties. He asserts that Dubai’s super-luxury property market shows no signs of a slowdown, with short supply, high demand, and a maturing market as buyers increasingly choose Dubai as a permanent residence. As Dubai evolves from a transitional market to a destination where buyers come to stay, the future of super-luxury properties remains positive, according to Whitehead. The ongoing shortage of supply, coupled with sustained high demand, underlines Dubai’s status as a global real estate hotspot, poised for continued growth and development.

Read More »
Dubai International Financial Centre (DIFC) Area Guide: The Pinnacle of Urban Living

Dubai International Financial Centre (DIFC) Area Guide: The Pinnacle of Urban Living

January 29, 2024

Nestled between the iconic Burj Khalifa and Emirates Towers, the Dubai International Financial Centre (DIFC) spans 110 acres, boasting a seamless integration of three dynamic districts dedicated to commercial, retail, and residential pursuits. The brainchild of the DIFC Authority, this financial quarter is intricately connected by a retail corridor, with 30% of its land earmarked for high-rise apartments. The epitome of city life, DIFC underwent a significant expansion, known as DIFC 2.0, adding 13 million sq ft of space, announced in January 2019. Read this also : Unveiling the Charm of Motor City: Your Ultimate Area Guide Residential and Commercial Essence: Living in DIFC is a distinct experience tailored for working professionals, offering convenience, accessibility, and a modern lifestyle ambiance. A diverse array of apartments, ranging from studios to 3-bedroom units, and luxurious 4 to 5-bedroom penthouse suites, caters to varied preferences. Commercial properties within DIFC include dedicated towers, complexes, and mixed-use projects. Invest in Dubai Real Estate : Click Here for Properties for Sale in Dubai Road Access: DIFC benefits from excellent road and rail links, with Sheikh Zayed Road, Dubai’s main highway, passing alongside. Read this also : Al Qusais Dubai Area Guide: Unveiling the Rich Heritage and Modern Living Proximity to Landmarks: 23 minutes to The Walk JBR 6 minutes to Dubai Mall 20 minutes to Palm Jumeirah 15 minutes to Mall of the Emirates 18 minutes to Burj Al Arab 43 minutes to Al Maktoum International Airport Read this also : Unveiling Reem Hills: Abu Dhabi’s Premier AED 8 Billion Gated Community 24 minutes to Ibn Battuta Mall 32 minutes to Dubai International Airport 15 minutes to La Mer by Meraas Invest in Dubai Real Estate : Click Here for Properties for rent in Dubai Public Transport: The metro plays a pivotal role in DIFC’s accessibility, with two stations, Financial Centre and Emirates Towers, seamlessly connecting commuters within the district. Hotels in DIFC: Luxury accommodations abound in DIFC, with hotels like The Ritz-Carlton DIFC, Four Seasons Hotel, and Waldorf Astoria Hotel offering world-class hospitality. Read this also : Unveiling Reem Hills: Abu Dhabi’s Premier AED 8 Billion Gated Community Schools in DIFC: Hummingbird Pre-School and Babilou MENA cater to educational needs within DIFC. Nearby options include Hartland International School in MBR City and Horizontal International School in Umm Al Sheif. Specialized courses are offered by institutions such as Brighter Prep, the IE Centre, and the London Business School Dubai Centre. Clinics and Hospitals: Healthcare in DIFC is served by IMC Medical Centre, La Clinique DIFC, and The Clinic, while Al Zahra Medical Centre and Interhealth Canada Limited are within a 15-minute drive. Oriana Hospital is also easily accessible in around 20 minutes. Read this also : Dubai Real Estate: A Haven for International Investors Pros and Cons of Living in DIFC: Pros: Prime location Proximity to workplace Nearby metro and bus stations Ample parking spaces Cons: Limited parks and beaches nearby Heavy traffic and congested roads Discover the pinnacle of urban living in DIFC, where seamless integration, accessibility, and modern convenience converge to redefine the essence of Dubai’s financial heart.

Read More »
Unveiling the Charm of Motor City: Your Ultimate Area Guide

Unveiling the Charm of Motor City: Your Ultimate Area Guide

January 29, 2024

Nestled within Dubailand and in close proximity to Arabian Ranches, Motor City stands as a unique community that was once part of the expansive Dubailand project. Adjacent to Dubai Sports City and Dubai Studio City, Motor City takes its name from its distinctive motor-sport theme, a visionary development by Union Properties. Read this also : Al Qusais Dubai Area Guide: Unveiling the Rich Heritage and Modern Living Diverse Living Spaces: Motor City comprises two distinctive residential areas: UpTown Motor City Green Community Motor City In addition to residential spaces, the community also hosts the Business Park Motor City, Dubai Autodrome, and the exhilarating F1-X Dubai. The range of properties available includes residential apartments, spacious villas, townhouses, offices, and shops, catering to a diverse array of lifestyles. Read this also : Unveiling Reem Hills: Abu Dhabi’s Premier AED 8 Billion Gated Community Strategic Road Access: With easy accessibility to Emirates Road and Al Khail Road, and a mere 10-minute drive to Sheikh Zayed Road, Motor City provides seamless connectivity. Proximity to Key Landmarks: 19 minutes to Mall of the Emirates 20 minutes to Burj Al Arab 31 minutes to La Mer by Meraas 22 minutes to The Walk JBR Read this also : Dubai Real Estate: A Haven for International Investors 31 minutes to Al Maktoum International Airport 20 minutes to Ibn Battuta Mall 39 minutes to Dubai International Airport 18 minutes to Palm Jumeirah 24 minutes to Dubai Mall Hotels in Motor City: Park Inn by Radisson Dubai Motor City, situated just 9 km from IMG Worlds of Adventure, offers comfortable accommodations for residents and visitors alike. Read this also : Over 50 Agreements Worth Over $26.66 Billion Signed at the Real Estate Future Forum 2024 in Saudi Arabia Educational Institutions: Motor City boasts nurseries such as Jebel Ali Nursery, Emirates British Nursery, and Building Blocks Nursery. For schooling, GEMS Metropole School is a prominent choice, complemented by nearby institutions like GEMS United School, Victory Heights Primary School, and Renaissance School. Universities in close proximity include the American University in Dubai, Middlesex University, and Modul University. Healthcare Facilities: Motor City ensures residents’ well-being with various clinics and hospitals, including Prime Medical Center, Medcare Medical Centre Motor City, Coopers Health Clinic Motorcity, Medicentres Motorcity, Park Avenue Dental Clinic, and Emirates Hospital Day Surgery & Medical Center. Read this also : Understanding Investor Rights: What Happens If an Off-Plan Property in Dubai Is Not Handed Over on Time? Leisure and Landmarks: A standout attraction is the renowned Dubai Autodrome, a 5.39 km FIA-sanctioned motorsports circuit, providing thrilling experiences since its opening in October 2004. Pros and Cons of Living in Motor City: Pros: Calm lifestyle Diverse property options Spacious living spaces Pet-friendly community Ample parking Abundant neighborhood amenities Read this also : Dubai’s Special Needs Tourism: Free Parking and Taxi Fare Discounts for Tourists Cons: No metro connection Potential noise from Dubai Autodrome Embrace the charm of Motor City, where diverse living spaces, strategic connectivity, and a wealth of amenities converge, offering residents a unique blend of modern convenience and tranquility. Read this also : Unveiling a New Standard of Luxury Living: Mercedes-Benz Places | Binghatti Residence in Dubai

Read More »
On FingerTips

From Around the World

Compare listings

Compare

Sign-Up Now

  • All Rights Reserved
  • NBS Real Estate