Dubai's real estate market has experienced three growth cycles, but it underwent two boom-bust periods – first during the 2008 global financial crisis when the market crashed for the first time, and again during the pandemic. After a three-and-a-half-year rally, industry experts are optimistic that the market will avoid another bust and instead experience slower, steadier growth. This is attributed to...
Mortgage transaction volumes in Dubai saw a significant rise, reaching a nearly 14-month high despite the relatively high interest rates in the UAE. As reported by Property Monitor, May experienced a 57.9 percent increase in mortgage transaction volumes, with 3,359 loans recorded. This marks the second-highest level, only behind March 2023, indicating the emirate's steady growth. According to...
The Dubai real estate sector witnessed $4.3 billion in transactions last week, including the sale of two luxury apartments in Baccarat Residences. According to data from the Land Department, the Dubai real estate sector recorded transactions exceeding AED15.9 billion ($4.3 billion) last week. Sales comprised the bulk of these transactions, amounting to AED11.71 billion ($3.2 billion). In total, 2,115...
Dubai has unveiled ambitious plans to expand its metro network significantly by 2040. Currently operating with 64 stations across 84 square kilometers, the Dubai Metro will grow to encompass 140 stations and cover over 228 square kilometers by 2040, as announced by the Government of Dubai on June 30. By 2030, the metro is expected to have 96 stations spread over 140 square kilometers. These developments...
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