💲3 Real estate developers fined Dhs1.5m for escrow account violations

Three real estate developers in Dubai have been handed a hefty fine of Dhs500,000 each, for promoting and marketing real estate projects, without completing the required registration procedures for off-plan projects.

The violators were fined by the Dubai Land Department

🌐 Read More News HERE !

#dxbinteract #realestatemarket #propertymarket

💥 Dubai Real Estate Boom: Unprecedented Growth, Looming Risks, and a AED 12 Billion Bet

In Q1 2024, Dubai's real estate market saw transactions worth 186 billion AED, driven by strategic developments and global appeal.

Despite potential oversupply with 95,000 units expected by 2026, strong demand and effective regulation support continued market growth.

🌐 Read More HERE !

#dxbinteract #realestatemarket #propertymarket

✅ Dubai Real Estate: Binghatti's Bold Expansion Plans

Binghatti Developers is launching 12 new projects in Dubai by late 2024, with an investment exceeding AED 10 billion, driven by strong demand.

In partnership with the Dubai Land Department, they are enhancing market efficiency and promoting Emirati participation through discounts and a new real estate academy, aiming to foster sector growth and innovation.

🌐 Read More HERE !

#dxbinteract #realestatemarket #propertymarket

📲 Stay Informed About New Projects and Properties in Your Area With the DXB Interact Mobile App!

Always stay up to date on:

🔹 Latest Projects

🔹 Real Estate Investment Map

🔹 Property Prices & Real Estate Market Reports

🔹 Property Transactions

🔹 Property Market Performance Summary

🔹 Project price comparison

🔹 Latest Real Estate News

🔹 And more…
__________________________

📱 Download for IOS HERE

📱 Download for Android HERE

💲In 2023, the UAE's GDP reached US$457 billion

In 2023, the UAE's GDP hit $457 billion, driven by growth in finance, real estate, and transport, making it one of the fastest-growing economies.

The non-oil sector, which constitutes 74.3% of the GDP, grew by 2.5%, showcasing the nation's successful diversification efforts.

🌐 Read More News HERE !

#dxbinteract #realestatemarket #propertymarket

Dubai Real Estate Market Overview

Weekly Sales Summary

✅ Sales volume:
1,910 transactions

-56.22% decrease

✅ Worth:
1.5K per sqft

-100% decrease

🌐 More Reports HERE !

#dxbinteract #realestatemarket #propertymarket

UK Faces Economic Shock as Wealthy Individuals Migrate to the UAE

The UK will lose 9,500 millionaires this year, mainly to the UAE, which offers financial perks and a high quality of life. This trend will reduce luxury property demand in the UK and boost real estate investment in the UAE.

🌐 Read More News HERE !

#dxbinteract #realestatemarket #propertymarket

📍Century Tower: A Sell-Out Success in Business Bay

At the Century Tower launch in Business Bay, 190 of 210 apartments were sold. This success is linked to Al Shafar's reputation for quality construction, especially valued after recent rains.

The event reflects a trend in Dubai's market toward durable properties from trusted developers.

🌐 Read More Articles HERE !

#dxbinteract #realestatemarket #propertymarket

📍Renaming Dubai's Neighborhoods: A Fresh Identity for 28 Areas

The Dubai Land Department is renaming 28 neighborhoods to reflect Dubai's evolving identity. Changes include renaming Sheikh Zayed Road to Burj Khalifa and Emirates Hills to Al Thanyah areas.

This rebranding aims to align neighborhood names with Dubai's contemporary landscape and ambitions.

🌐 View the full list HERE !

#dxbinteract #realestatemarket #propertymarket

📍IL Primo: Emaar's Masterpiece in Downtown Dubai Prepares for Grand Debut

IL Primo by Emaar in Downtown Dubai is set to redefine luxury living with its exclusive penthouses and duplexes. Located near the Dubai Fountain and Burj Khalifa, it offers prime views and top-notch amenities, including an infinity pool and private cinema.

The project has seen significant price appreciation, underscoring its desirability in the market.

🌐 Read More Articles HERE !

#dxbinteract #realestatemarket #propertymarket

UAE Climbs to 2nd Place in Global Greenfield Investment Rankings

The UAE is now the second-largest recipient of greenfield investments globally, boosting demand for commercial and residential real estate. Its strategic location, favorable business climate, and tax incentives drive this growth, supporting economic diversification.

🌐 Read More News HERE !

#dxbinteract #realestatemarket #propertymarket

📈Dubai Real Estate Market Overview

Weekly Sales Summary

✅ Sales volume:
3,430 transactions

+67.24% increase

✅ Worth:
1.4K per sqft

-100% decrease

🌐 More Reports HERE !

#dxbinteract #realestatemarket #propertymarket

Cristiano Ronaldo Purchases €25 Million Plot of Land in Dubai

Cristiano Ronaldo has invested €25 million in a plot on Jumeirah Bay, Dubai, to build a mansion.

He also opened TATEL Dubai, a luxury restaurant in Downtown Dubai, with Rafael Nadal and Pau Gasol.

🌐 Read More News HERE !

#dxbinteract #realestatemarket #propertymarket

Dubai Real Estate Market Booms in May 2024: A Comprehensive Overview

Best Performing Areas in May 2024:

🔹 Jumeirah Village Circle
🔹 Al Merkadh
🔹 Business Bay
🔹 Sobha One
🔹 Hadaeq Sheikh Mohammed Bin Rashid

💸The average property prices in Dubai have seen a notable increase:

• Apartments: AED 1.3 million, an 8.8% rise from May 2023.

• Villas: AED 2.8 million, marking a 10.9% increase.

• Commercial Properties: AED 1.5 million, up by 49.2%.

• Plots: AED 4.6 million, a slight decrease of 7.4%.

🌐 Read More HERE !

#dxbinteract #realestatemarket #propertymarket

💵RTA Launches AED431 Million Project to Enhance Dubai Harbour Access

🌉 A 1,500-meter bridge will be constructed, featuring two lanes in each direction. This bridge will link Sheikh Zayed Road to Dubai Harbour.

The bridge is designed to accommodate up to 6,000 vehicles per hour in both directions, drastically reducing travel time from 12 minutes to just 3 minutes.

🌐 Read More News HERE !

#dxbinteract #realestatemarket #propertymarket

📉Are Dubai Property Prices Falling?

- Not Falling, but Evolving

In May 2024, Dubai's real estate market displayed strong growth, with a 49.2% increase in property transactions, rising property and rental prices, and a surge in mortgage market activity.

🌐 Read More HERE !

#dxbinteract #realestatemarket #propertymarket

📈Dubai Real Estate Market Overview

Weekly Sales Summary

✅ Sales volume:
2,900 transactions

-18.32% decrease

✅ Worth:
1.4K per sqft

-100% decrease

🌐 More Reports HERE !

#dxbinteract #realestatemarket #propertymarket

🏗️Sobha Realty Announces Construction of Nature-Inspired Mall in Dubai

Sobha Realty is constructing a community mall in Dubai's Sobha Hartland, set to open in late 2026. Costing AED 210 million, this project will blend retail and leisure, offering shops, eateries, and sustainable design features such as natural lighting and energy-efficient systems.

🌐 Read More News HERE !

#dxbinteract #realestatemarket #propertymarket

Dubai Real Estate Market Overview: Q2 - 2024

📊 Sales Volume:

43,612 transactions
19.7% increase vs. QoQ
44.1% vs. Q2 2023

💸 Sales Value:

AED 124.6B
15.1% increase vs. QoQ
36.6% increase vs. Q2 2023

💰Sales Value:

• Apartments: AED 62.5B (45% increase vs Q2 2023)
• Villas: AED 27B (18.7% increase vs Q2 2023)
• Commercial: AED 2.4B (22.2% increase vs Q2 2023)
• Plots: AED 32.7B (154.3% increase vs Q2 2023)

📍Top 5 performing areas:

• Jumeirah Village Circle
• Zaabeel First
• Business Bay
• Dubai Marina
• Dubai Hills Estate

🌐 Discover full report HERE !

#dxbinteract #realestatemarket #propertymarket