One notable new trend was the increase in pre-leasing in Dubai, where tenants secure office spaces before they become available. According to a report by Betterhomes, Dubai’s commercial property sector maintained stable transaction volumes in the second quarter of 2024. Recent data showed that office transactions in the emirate rose by 1 percent year-on-year to 764 deals, amounting to AED 1.36...
2024
The increase in activity is due to Dubai's rising attractiveness, with each quarter exceeding the previous ones in transaction records. Dubai's off-plan property market set a new record in Q2 2024, with 25,466 transactions totaling over AED 52 billion, according to a report by Betterhomes. This represents an 81% increase compared to the same period last year. Villas experienced a 44% year-on-year...
25 Degrees, a Dubai-based property developer, announced the sale of a renovated Garden Home villa on Palm Jumeirah for $17 million (AED 62 million), setting a new record. This 5,800-square-foot private beach villa, completed in January 2024, was sold in partnership with Sotheby’s International Realty, highlighting the increasing demand for high-end properties in Dubai’s luxury real estate...
Dubai real estate market faces competition from Abu Dhabi, Ras Al Khaimah: Experts Residential property prices in Dubai’s off-plan segment are expected to rise by up to 15 percent in the second half of 2024, driven by increasing construction costs and ongoing demand from international investors, according to industry experts. Property prices in Abu Dhabi and Ras Al Khaimah (RAK) – emerging UAE...