Real Estate Egyptian developer launches $26m mixed-use project Egypt’s Golden Town Real Estate Development has launched the first phase of its EGP500 million ($26.14 million) mixed-used project, Cascada, in the New Administrative Capital. The expected total sales value is more than EGP750 million, the company said in a statement. The developer intends to invest within and outside the administrative capital, chairman Raafat Maher […] August 5, 2022
Exclusive Select Group eyes more UK and UAE real estate projects Dubai developer Select Group has had a ‘record-breaking’ year of sales, on a par with the pre-2008 boom era that many may associate it with, as it pushes ahead with ambitious plans both in the UAE and the UK. The firm, which was founded in 2004, is one of many riding the wave of the […] August 4, 2022
Real Estate GCC investors unfazed by UK real estate crackdown A crackdown on anonymous foreign investments in UK real estate will not put off GCC buyers and may even increase deals in the long term, experts say. The Register of Overseas Entities will require anonymous foreign companies owning or seeking to buy UK land to reveal their true owners, ensuring criminals cannot hide behind secretive […] August 2, 2022
Real Estate UK and Russian buyers help Dubai real estate sales surge Dubai’s red-hot property market surged in the first half of the year as investors piled in, while Russians were among the top five buyers as the emirate benefits from an influx of wealth in the wake of Western sanctions. The first half saw residential real estate transaction volumes up 60 percent with an 85 percent […] July 29, 2022
Real Estate Abu Dhabi’s Aldar Properties posts 54% jump in Q2 profit Aldar Properties, the builder of Abu Dhabi’s Formula One motor racing circuit, reported a 54 percent rise in second-quarter profit on Thursday, helped by record sales on strong local and international demand. Profit attributable to shareholders came in at 803.99 million dirhams ($218.91 million) for the three months to June 30, compared with 520.83 million […] July 28, 2022
Analysis Real Estate Gulf investors head outside London to fill up on UK property The Midlands and Northern England are looking ever more appealing to commercial real estate investors from the GCC, according to a new report GCC investors’ appetite for UK property continues to grow, new research has found, driven in part by the surging appeal of regions outside of London. A report from Bank of London and […] July 27, 2022
Real Estate Turkey sees 81.8% surge in foreign homebuyers The number of foreigners buying property in Turkey rose by 81.8 percent year-on-year in June, helping the number of sales to rise by 11.7 percent to 150,509 homes. New data from the Turkish Statistical Institute, issued on Tuesday, found that a total of 8,630 foreign nationals bought homes in Turkey in June, with Russian buyers […] July 19, 2022
Real Estate Dubai rents soar by over 20% as inflation bites Dubai residential rents rocketed by 21.7 percent on average in the 12 months to June 2022, more than double the mean growth in sales prices. The total volume of transactions in Dubai’s residential market reached 7,941 in June 2022, up 33.3 percent year-on-year, said research from real estate consultancy firm CBRE released today. In the […] July 15, 2022
Opinion Real Estate UAE real estate is a good inflation bet While interest rates rise and house prices fall globally, the Emirates is bucking the trend July 15, 2022
Opinion Real Estate Russia’s rich are driving ups and downs of Dubai property prices The apparent resurgence in the housing market looks like good news, but take a closer look at the numbers July 12, 2022
Analysis Real Estate Gulf home buyers eye Battersea Power Station in London Gulf investors are snapping up London properties beyond the traditional smart neighbourhoods such as Chelsea and Kensington, north of the river Thames. With a weak pound offering great purchasing power for Gulf currencies and an upcoming visa liberalisation for GCC countries with Britain, MENA-based property investors are flocking to England’s capital. And Arab buyers have […] July 11, 2022
Analysis Real Estate Sanctions won’t dampen Dubai property allure for Russians The popularity of Dubai among Russian property buyers is unlikely to be dented by a US threat to impose sanctions on UAE banks who process their financial transactions, as most payments are made using cash or cryptocurrency. Dubai-based Mira Estate said its property sales to customers from Russia and the 11 other Commonwealth of Independent […] July 8, 2022
Real Estate Judge in Trump case fines real estate firm $10,000 a day A New York judge on Tuesday held real estate firm Cushman & Wakefield PLC in contempt of court for not producing documents subpoenaed in a probe of former US President Donald Trump’s business practices. The judge ordered the company to be fined $10,000 a day until it complied. Attorney General Letitia James has been investigating […] July 6, 2022
Analysis Real Estate Prime London property one third cheaper for Arab investors Wealthy buyers of prime London property have already seen prices fall since the start of this year, but Gulf buyers have been enjoying an additional dollar discount bonus thanks to their home currencies being pegged to the US currency. “The dollar has strengthened against all major currencies including the pound since January,” said Liam Bailey, […] July 1, 2022
Real Estate Zero-carbon smart city in Riyadh to house 44,000 A Dubai-based architecture firm is working on designs for a 10km2, zero-carbon smart city in Saudi Arabia which will provide homes for 44,000 people. URB, which is headquartered in Dubai Design District, said it has completed the concept stage for ALNAMA Smart City and will soon begin the detailed design stage. Set to be located […] July 1, 2022
How I got to the top Real Estate Mamad Kashani Akhavan, CEO, Powerhouse Real Estate What does your company do? We’re aiming to reinvent real estate by educating brokers and expanding their knowledge in the field. We’ve implemented a simple training programme for each new joiner to ensure their quality of performance in the market. Once they’re released into what we call “the sales floor”, they’re ready to enter the […] July 1, 2022
Real Estate Freeze on Russians selling boosts luxury London house prices The war in Ukraine is making it hard for even unsanctioned Russians to sell exclusive residential property in Britain, adding to a shortage of supply that has helped drive up house prices in prime locations, real estate sources say. Russian oligarchs, Middle Eastern oil barons and billionaire Chinese entrepreneurs have been on a spending spree […] June 29, 2022
Exclusive Real Estate Damac set to splurge on jewellers and real estate across Europe Dubai developer Damac is looking at projects in Germany and Copenhagen, as well as more partnerships with fashion brands, says senior VP June 29, 2022
Real Estate Dubai ‘repivots’ city centre as Business Bay prices soar Dubai is witnessing a “repivoting” of its city centre, with residential prices soaring in Business Bay, according to analysts. Values in Business Bay have risen by nearly 17 percent in the last two years, pointing to the redefining of Dubai’s centre, said global property consultant, Knight Frank, in a new research note. The wider Central […] June 21, 2022
Exclusive Tourism Dubai unveils plan to transform Expo 2020 site into free zone The Expo 2020 Dubai site is to be transformed into the emirate’s newest business free zone – and is being lined up as a possible venue for more of the world’s biggest events, executives have told AGBI. Sheikh Mohammed bin Rashid Al Maktoum, the vice president and prime minister of the UAE and the ruler […] June 21, 2022
Real Estate Russian buyers help Turkish house sales double in May Turkish home sales surged 107.5 percent in May over last year to 122,768 houses, data from the Turkish Statistical Institute showed on Wednesday, with Russians topping foreign buyers for a second consecutive month. Sales to foreigners jumped 235.7 percent year-on-year to 5,962 units, the institute said. Russian citizens topped the list again in May with […] June 15, 2022
Real Estate 358% rise in licences turbocharges Riyadh office rents Office buildings in Riyadh have seen a surge in rental rates and occupancy levels, as the Saudi capital begins to see the benefits from a new policy to encourage international companies to set up their regional headquarters in the city. In February last year, Crown Prince Mohammed bin Salman announced plans to transform Riyadh into […] June 9, 2022
