Emirates.Estate

2021-08-21 19:42:28 Asteco Q2 2021 report: gradual recovery of the UAE real estate sector goes on

The UAE’s real estate market continued to grow in Q2 2021, with some segments even recording double-digit growth in sales prices.

According to the Q2 2021 UAE Real Estate Report by property management experts Asteco, in the reviewed period villa rental and sales rates in Abu Dhabi and Dubai continued to increase; sales prices in certain segments went up by almost a quarter.

The report said that approximately 2,070 apartments and villas had been delivered in Q2 2021 in Abu Dhabi. In particular, a lot of new units were added to Yas Island and several new buildings were constructed in Al Raha Beach.

Over 9,350 residential units are planned for handover before the end of this year, the report notes. However, delivery of some projects is likely to be delayed so some handovers might spill over into 2022.

More https://emirates.estate/news/asteco-q2-2021-report-gradual-recovery-of-the-uae-real-estate-sector-goes-on/ Open / Comment

2021-08-20 01:13:29 Biggest increases in prices in Sharjah are most notable in the areas close to Dubai

In July 2021, the average price for an apartment in the emirate amounted to USD 164,000, 2.2 percent up from January.

According to the latest data released by Property Finder, prices for apartments and villas in Sharjah are growing, in particular, huge increases are being witnessed in areas close to the neighbouring emirate of Dubai.

In July 2021, the sales listing price for an apartment in the emirate amounted to USD 164,000 on average, which is 2.2 percent up from January. As for the locations tracked, Al Nahda, located on the border of Dubai and Sharjah, registered the highest rise in prices at 17.02 percent over a six-month period. An apartment in Al Nahda would cost buyers around USD 150,000.

More https://emirates.estate/news/biggest-increases-in-prices-in-sharjah-are-most-notable-in-the-areas-close-to-dubai/ Open / Comment

2021-08-20 01:03:05 Weekly real estate transactions in Dubai, from August 12-19, 2021

204 plots sold for USD 262 million, 1,163 apartments and villas sold for USD 593 million.

1,367 real estate and property transactions amounting to USD 1.19 billion in total were recorded in Dubai during the week from 12 to 19 August, 2021.

204 plots sold for USD 262 million, 1,163 apartments and villas sold for USD 593 million.

The largest land transaction was registered in Jumeirah First, standing at USD 10 million. It is followed by a land sold for USD 8.7 million in Al Nahda First.

Jabal Ali First saw the highest number of transactions this week.

More https://emirates.estate/news/weekly-real-estate-transactions-in-dubai-from-august-12-19-2021/ Open / Comment

2021-08-18 01:08:33 Emaar Properties recorded lower net profit in the first half of 2021 despite higher revenue

The company's revenue increased by 229 percent, the sales value totalled USD 4.4 billion.

Dubai’s largest developer Emaar Properties reported an 8 percent drop in its net profit for the first half of this year despite an increase in revenue during the period as expenses rose.

Emaar said in its statement to the Dubai Financial Market, where its shares are traded, that the company's net profit for the six-months to the end of June had fallen to USD 424 million. Revenue increased by 52 percent and reached USD 3.4 billion. Operating, selling, general and administrative expenses rose too.

The value of Emaar's property sales in the first half totalled USD 4.4 billion, which is 229 percent more than in the same period last year.


More https://emirates.estate/news/emaar-properties-recorded-lower-net-profit-in-the-first-half-of-2021-despite-higher-revenue/ Open / Comment

2021-08-18 01:04:30 Wasl Properties launches the Wasl Bay project in Dubai's area Garhoud

The project will have a total of 80 units comprising one-, two-, and three-bedroom apartments.

Оne of Dubai's largest real estate development and management companies, wasl Properties, announced the launch of Wasl Bay, a new residential project in Garhoud that features a mix of 80 units comprising one-, two-, and three-bedroom apartments with top finishing.

Units in the new project are available in various sizes, ranging from 644 square feet for one-bedroom apartments to 1,291 square feet for three-bedroom apartments.

More https://emirates.estate/news/wasl-properties-launches-the-wasl-bay-project-in-dubais-area-garhoud/ Open / Comment

2021-08-18 01:01:26 Strong international buyer interest is driving Dubai villa prices higher

Communities like The Meadows and The Springs posted the highest quarterly process increase of 6.6 percent.

Due to international buyer interest and improved market sentiment in Dubai’s property market are rising. The value of transactions during the second quarter of 2021 jumped by nearly 50 percent, said real estate services firm Chestertons in its new research.

Residential sales totalled USD 8.4 billion between March and June 2021, up from USD 5.6 billion in the previous quarter. In addition to that, the transaction value reached its highest level since the fourth quarter of 2013, when sales brought USD 8.6 billion.

A total of 14,426 units were purchased in the second quarter, which is 35.48 percent more than in the first quarter of the year.

More https://emirates.estate/news/strong-international-buyer-interest-is-driving-dubai-villa-prices-higher-/ Open / Comment

2021-08-14 03:01:41 Deyaar Development announced its unaudited financial results for H1 2021

The company received USD 80 million in revenue and USD 6.1 million in net profit during the period.

Deyaar Development, one of Dubai’s leading property developers and real estate service providers, recently has announced its unaudited financial results for the first half of 2021.

The developer said its revenue had increased and reached USD 80 million in the first six months ending 30 June 2021, while in the same period last year it had stood at USD 47 million. An increase in net profit was also witnessed, from USD 2.3 million in the first half of 2020 to USD 6.1 million in the same period this year.

Saeed Al Qatami, CEO of Deyaar, said, 'The company continued its steady performance during the last period to achieve positive results with an increase in both revenue and net profit in the first half of this year. We continue to focus on improving the efficiency of our business and meeting the growing demand for high-quality real estate projects. The company recently launched Regalia project, which will be a unique addition to the luxury real estate sector in Dubai. The project witnessed great demand from customers since the first days of launch. Additionally, the construction work in the new phases of our Midtown project is progressing well.'

In July the company launched a new skyscraper called Regalia and valued at USD 272 million. Luxury apartments in the 70-story tower are all equipped with smart home systems. In addition to that, Regalia's resident will have access to a wide range of recreational and wellness amenities. The project development is expected to be completed in December 2024.

Deyaar Development PJSC was established in 2002, and since then has become one of the leading real-estate developers and real-estate services companies in Dubai. Deyaar's extensive portfolio includes a whole range of commercial, residential and hospitality properties, all offering the highest levels of service and quality.

https://emirates.estate/news/ Open / Comment

2021-08-14 03:01:38 Open / Comment

2021-08-14 03:00:18 Alef Group launches a new building in Al Mamsha Seerah

The Suroor 2 building comprises 211 residential units and scheduled for handover in 2024.

A few days ago, Alef Group announced a new project named Suroor 2 located in Al Mamsha Seerah within its Al Mamsha mixed-use development in Sharjah.

The Suroor 2 building comprises 211 residential units, that include over 24 studios, 129 one-bedroom apartments, 42 two-bedroom units and 16 three-bedroom apartments. Prices for studios start from USD 91,208, prices for one-bedroom apartments start from USD 133,137. Completed units are scheduled for handover in 2024.

Issa Ataya, CEO of Alef Group, stressed the continued robustness of Sharjah and the UAE's real estate market, and said that the current business.

More https://emirates.estate/news/alef-group-launches-a-new-building-in-al-mamsha-seerah/ Open / Comment

2021-08-14 02:58:26 Weekly real estate transactions in Dubai, from August 5-11, 2021

116 plots sold for USD 178 million, 1,072 apartments and villas sold for USD 620 million.

1,188 real estate and property transactions amounting to USD 1.2 billion in total were recorded in Dubai during the week from 5 to 11 August, 2021.

116 plots were sold for USD 178 million, 1,072 apartments and villas were sold for USD 620 million.

More https://emirates.estate/news/weekly-real-estate-transactions-in-dubai-from-august-5-11-2021/ Open / Comment