Real Estate Dubai’s Emaar confirms talks to sell stake in Indian unit Emaar Properties, Dubai’s largest developer, has confirmed talks with companies in India, including Adani Group, for a possible stake sale in its Indian subsidiary. The valuation and other terms of a potential transaction are not finalised, the developer said in a Dubai bourse filing on Thursday. The clarification followed a news article by Mint, an […] January 17, 2025
Construction Turkey to build low-cost housing to ease rent pressures Turkey has unveiled a new scheme to provide affordable homes for low-income earners and first-time buyers aimed at easing inflationary pressures generated by rising rents and helping to support the housing sector. Vice president Cevdet Yılmaz announced on Friday that state housing agency TOKİ would be overseeing the new low-cost housing programme, with work to […] January 14, 2025
Opinion Real Estate The UAE is the world’s new capital for entrepreneurs Dubai and Abu Dhabi have become magnets for investors and the world's super-rich January 13, 2025
Finance Aldar secures $2.5bn credit facility to support growth Aldar Properties, Abu Dhabi’s largest developer, has raised AED9 billion ($2.5 billion), taking its overall liquidity to AED27 billion to back its ongoing growth initiatives. The sustainability-linked multi-tranche revolving credit facility attracted orders from 15 global and regional financial institutions. The facility, which has a five-year tenor and incorporates conventional and Islamic tranches across AED […] January 13, 2025
Construction Damac to tokenise $1bn in real estate Damac Group, the Dubai property company, has partnered with the Hong Kong-based blockchain platform Mantra to tokenise assets worth at least $1 billion. The project will use blockchain technology to create digital tokens representing ownership or rights to Damac’s assets, allowing them to be traded online. Tokenisation is intended to lower barriers to investment by […] January 10, 2025
Analysis Real Estate Gulf property investors return to London Gulf investors are returning to the UK property market after four years, with experts attributing the change to the new Labour government and falling interest rates. Rashid Khan-Gandapur, director of real estate finance at the Bank of London and the Middle East, says the bank has seen a “massive uplift in GCC investment flow since […] January 10, 2025
Real Estate Qatari investment company to help Indonesia build 1m homes The Qatari investment company Qilaa International Group has signed an agreement with Indonesia’s government to build one million affordable homes. Sheikh Abdulaziz bin Abdulrahman Al Thani, chairman of Qilaa International Group, signed the memorandum of understanding at Indonesia’s presidential palace alongside the country’s housing minister Maruarar Sirait. Qilaa International Group will finance and manage the […] January 9, 2025
Real Estate Kuwait real estate transaction value up 34% in 2024 The value of real estate transactions in Kuwait grew 34 percent year on year in 2024. In total, 4,950 transactions were worth KD3.73 billion, or around $9 billion, in 2024, compared with 4,442 transactions worth KD2.78 billion in 2023. Only the country’s coastal strip saw a decline in transactions, with deals dropping 44 percent. Residential […] January 8, 2025
Real Estate Saudis sold on online home sales, says developer Roshn Saudi developer Roshn, a unit of the Public Investment Fund (PIF), said half of its home sales are now made online, marking a significant shift in the kingdom’s property market. Buyers on Roshn’s platform can verify their identity using national digital IDs, sign contracts electronically and make payments online, streamlining a process that traditionally required […] January 7, 2025
Construction Dubai launches $1.5bn housing projects Dubai has launched housing projects worth AED5.4 billion ($1.5 billion) across the emirate. The projects will result in 3,004 new homes being built for Emiratis, the UAE state-run Wam news agency reported. Of these, 1,181 homes will be in Latifa City for beneficiaries under the housing loan category. For beneficiaries in the housing grant category, […] January 7, 2025
Real Estate Jumeirah Village Circle: ‘Where the normal people live’ It might not have the glamour of the Palm but JVC has its own enduring appeal and was Dubai's busiest location for ready-home sales in 2024 January 6, 2025
Construction Dubai’s $109m Al Mamzar Beach project to open in 2025 Dubai Municipality has awarded contracts for the AED400 million ($108.9 million) Al Mamzar Beach development project, set to open by the end of this year. The second phase focuses on upgrading the Al Mamzar Corniche beachfront and a focus on sustainable beach tourism, the UAE state-run Wam news agency reported. Spread across 125,000 sq m […] January 6, 2025
Video length: 04:13 VIDEO Tech Gulf sovereign wealth funds tilt towards emerging markets In the past 12 months Gulf sovereign wealth funds invested almost $10 billion in China, the largest such volume in history, Diego Lopez, Singapore-based managing director of Global SWF tells AGBI. This reflected a growing bias among Gulf funds towards emerging markets and domestic economies. “Every time [investment managers] are coming across a good opportunity […] January 6, 2025
Real Estate Rental index in Dubai expands to commercial properties Dubai is to expand its Smart Rental Index to include commercial and industrial properties, a move that could serve as a catalyst for landlords to improve poor maintenance standards in neglected buildings, industry experts said. Majid Al Marri, CEO of real estate registration and services at Dubai Land Department, told AGBI at the launch of […] January 3, 2025
Real Estate Saudi Arabia embraces mortgage-backed securities Saudi officials have signed a preliminary deal this week to issue residential mortgage-backed securities, a first for the Gulf. The Saudi Real Estate Refinance Company (SRC), which is owned by the Public Investment Fund (PIF), and the Hassana Investment Company, which manages the assets of the national social security and pension fund, signed the memorandum […] January 3, 2025
Real Estate New rental index for Dubai to curb rises and disputes A new residential rental index to help tame a property market strained by soaring rents and landlord-tenant disputes has been unveiled in Dubai. The Dubai Land Department (DLD) launched the Smart Rental Index on Thursday. The tool regulates rent increases by tying adjustments to individual property and building ratings, replacing a district-based model that grouped […] January 2, 2025
Finance Emaar EC cuts accumulated losses by nearly 54% Emaar the Economic City (Emaar EC) has cut accumulated losses without disrupting business operations after shareholders approved a capital decrease. Abdulaziz Ibrahim Alnowaiser, CEO of the master developer of King Abdullah Economic City (KAEC) in Saudi Arabia, said: “The capital decrease is a critical enabler of our capital optimisation plan.” The approved capital cuts will reduce the company’s […] January 2, 2025
Real Estate Burj Khalifa at 15: Ups and downs of the world’s tallest skyscraper It may have a few aches and pains but demand in Dubai's supertower remains strong January 2, 2025
Real Estate Saudi mortgage issuance reached two-year high in November The number of residential mortgages in Saudi Arabia reached its highest level since August 2022 in November, according to the latest figures from the Saudi Arabian Monetary Agency (Sama). A total of 13,142 new residential mortgages were given by banks to individuals during the month with the value up by 51 percent year on year […] December 30, 2024
Analysis Real Estate Pricey homes and packed hotels: the year in GCC real estate The story of the Gulf property market this year was about decreased housing affordability and a growing gap between top-quality properties and second-tier ones. Meanwhile, surging numbers of international visitors in the UAE, Saudi Arabia and Qatar brought thriving hospitality and retail sectors in the main tourist hotspots. Industry observers expect 2025 to bring more […] December 27, 2024
Real Estate Abu Dhabi & Qatar to help fund Indonesian housing Abu Dhabi and Qatar have committed to support Indonesia’s plan to build 15 million houses, according to the head of the housing task force Hashim Djojohadikusumo. Djojohadikusumo said the Qatari government will finance the construction of five million houses, while an unnamed philanthropist from Qatar will contribute towards a further one million houses. He added […] December 27, 2024
EXCLUSIVE Real Estate Expo City races to cope with Dubai’s population surge Expo City Dubai, the legacy site of the World Expo 2020, is gearing up for a big construction drive in 2025, with plans to issue tenders for residential, commercial and infrastructure projects to meet rapid population growth, a senior official has said. Ahmed Al Khatib, chief development and delivery officer at Expo City Dubai, told […] December 26, 2024
