Real Estate

Rental increases are anticipated to average 8-12%, with comparatively lower levels of growth expected in outer and suburban locations. Dubai is currently experiencing the emergence of a two-tiered rental market due to the widening gap between renewal and new lease rents. Prathyusha Gurrapu, Head of Research and Consulting at Cushman and Wakefield Core, noted that a growing number of Dubai tenants are...

A Ministry of Finance official in the UAE has reaffirmed the country's stance on income tax. The Ministry of Finance’s Undersecretary, Younis Al Khouri, has confirmed that the UAE has no intentions of implementing income tax for individuals. Al Khouri made this clarification during the 9th meeting of the Under-Secretaries of Ministries of Finance in Arab Countries, organized by the Arab Monetary Fund....

The most recent residential project exclusively for Emiratis is Latifa City. On Sunday, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, gave his approval to a series of projects aimed at constructing additional homes for Emiratis. Following his recent initiative to double the number of Emirati families within 10 years, Sheikh Mohammed has officially designated an area named Latifa City...

Dubai's real estate sector witnessed a significant week, with transactions totaling $3.9 billion, including a notable $1.6 billion in apartment and villa sales. According to information provided by the Dubai Land Department, the real estate sector in Dubai witnessed transactions totaling AED14.2 billion ($3.9 billion) this week. In the week ending January 26, 2024, a total of 4,123 transactions took...