Real Estate Abu Dhabi mortgage deals surge as real estate thrives By Pramod Kumar October 2, 2024, 7:29 AM Wam/X Real estate transactions in Abu Dhabi reached AED22.7 billion in the third quarter of 2024 Mortgage transactions in Abu Dhabi rose 20 percent year on year in the third quarter of 2024 amid robust growth in the real estate sector. The total value of the mortgage deals reached AED13.5 billion from 2,594 transactions, the UAE state-run Wam news agency reported, citing Dari, a unified property services platform. Overall, real estate transactions totalled AED22.7 billion, with sales amounting to AED9.2 billion. Of this, AED4.1 billion came from 1,480 completed units, while AED5.1 billion was generated by 1,681 off-plan units. Prices stabilise in Dubai’s off-plan market as supply grows Sales surge but rents fall in Qatar property market Mortgage buyers increase with Dubai’s rising rents The total value of real estate transactions from January to September reached AED55.6 billion, driven by 18,000 sales and mortgage deals. Sales accounted for AED30.5 billion, while mortgages contributed AED25.1 billion. In the past nine months, 10,440 real estate units were sold, including 4,137 completed units and 6,303 off-plan units. The total number of mortgage transactions during the nine months was 7,559.
Markets Oman’s Asyad Group plans IPO of shipping unit Asyad Group, a logistics business owned by Oman’s sovereign wealth fund, has announced plans to float its shipping unit on the Muscat stock exchange. At least 20 percent of Asyad Shipping Company will be sold in the initial public offering. The Asyad IPO will be divided into two tranches. The first is 75 percent of […] 3 hours ago
Video length: 04:02 VIDEO Finance One million users for Saudi Arabia’s Sahm trading app “Riyadh has a population of 8 million. The government is going to double the population. That means money. That means capital,” says Steven Chou, chairman of Saudi-based fintech-driven financial company Sahm Capital. “Local Saudis are keen to look for a new product. They are options lovers,” Chou says, adding that the sectors of interest include […] 34 mins ago In association with
Industry Almarai to increase poultry output by 35% Almarai, the Middle East dairy and food production group, announced plans to increase its poultry output by 35 percent this year as it continues with its multi-billion-dollar expansion plans. The Riyadh company reported fourth-quarter profit of SAR430 million ($115 million), an increase of 16 percent, as revenue rose 4.8 percent to SAR5.15 billion. It announced a […] 11 mins ago
Construction German company to assess proposed Spain-Morocco tunnel A German-owned company has been awarded a contract to conduct a feasibility study on building an undersea railway tunnel between Morocco and Spain, the latest indication that the long-stalled plan could become reality. If built, the tunnel would be one of the longest of its kind worldwide and would make transporting goods and people between […] 26 mins ago
