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Real Estate

Real estate and property news from the Middle East. All the important stories, exclusive interviews, plus authoritative opinion and analysis

ENBD REIT Uninest accommodation

Real estate trusts struggle despite strong Dubai market

Dubai’s resurgent property market has delivered riches to property owners and shareholders of leading developers like Emaar Properties, but investors in two listed Dubai real estate investment trusts – Emirates REIT and ENBD REIT – are nursing sustained losses. Both trusts are listed on Nasdaq Dubai. The emirate’s international bourse launched in 2005 with the […]

Turkish housing construction Turkey

Turkish housing crisis persists despite construction surge

Activity in the Turkish construction industry is picking up pace, fuelled by the need to rebuild after the February earthquakes — but economic woes mean the road could be long, experts tell AGBI. Even before the February earthquakes, which killed 50,000 people, injured 100,000 more, and made 3 million homeless overnight, the country of 83 […]

Aldar plans to leverage its balance sheet to support British developer's London Square’s strategy of developing prime London sites

UAE’s Aldar buys British developer for $291m

Abu Dhabi-listed Aldar Properties has acquired London-based developer London Square in a deal worth AED1.07 billion ($291.4 million). The transaction marks Aldar’s first acquisition outside the Mena region. The Abu Dhabi developer plans to leverage its expertise and balance sheet to support London Square’s land acquisition strategy to develop larger prime central London sites. Additionally, […]

A villa for sale in Riyadh. Prices rose 1.2% compared to last year despite a fall in sales

Saudi property prices hold up despite drop in sales

The Saudi residential property market is beginning to take a hit from the economic slowdown caused by the kingdom’s oil production cuts. Yet according to figures published by real estate consultancy CBRE, prices remain resilient in the face of a fall-off in third quarter sales. A total 61,473 transactions took place in the third quarter, […]

Although interest in central London property remains strong, cash investors are heading to the outskirts

London’s suburban real estate moves Middle East investors

While central London property retains its allure for ultra-high-net-worth individuals from the Gulf Cooperation Council (GCC) countries, cash buyers are flocking to the outskirts of the UK capital to snap up investment properties. A survey of GCC high-net-worth individuals by London-based shariah-compliant lender Al Rayan Bank found that a third of respondents said they had […]

Customers at a cafe in Khobar

PIF expects $1trn real estate spending over next decade

Saudi Arabia’s Public Investment Fund (PIF) says it intends to invest SAR4 trillion ($1.1 trillion) in the real estate sector over the next 10 years, mainly developing 12 cities as part of the Saudi Downtown project.  The Saudi Downtown Company was established in 2022 as a fully owned subsidiary of the PIF to develop city […]

Abu Dhabi recorded transactions from 6,494 newly registered resident investors and 630 non-resident investors in the first nine months of 2023

Abu Dhabi real estate deals soar to new high of $18.5bn

Real estate transactions in Abu Dhabi hit a new high of AED 67.76 billion ($18.45 billion) in the first nine months of 2023, propelled by rising demand from local and international investors. Buying, selling and mortgage activities across the real estate sector rose 56 percent year on year, Abu Dhabi Media Office reported, citing data […]

An artist rendering of Seven's planned entertainment centre in Aseer

PIF unit launches $354m entertainment centre in Aseer 

Seven, a wholly owned subsidiary of the Public Investment Fund (PIF), has launched its fifth entertainment destination in Saudi Arabia.   The SAR1.3 billion ($353.96 million) project near Abha International Airport will cover a land area of 64,000 sq m with a built-up area of more than 79,000 sq m.   The architecture, designed by California-based firm Gensler, […]

Gary Neville

UAE buyers help ex-England footballer hit property goals

The former Manchester United and England footballer Gary Neville has revealed that one in five properties in his luxury residential development have been snapped up by UAE investors. Neville, a Champions League-winning defender turned entrepreneur, visited the Emirates this week to gauge Middle Eastern interest in his £400 million ($501 million) hotel and apartment project […]

Entrance to King Abdullah Financial District Riadh

Foreign HQs drive Riyadh rent growth to record highs

A rush of international companies to set up regional headquarters in Riyadh is driving record increases in commercial property rents, latest figures reveal. Prime rents in the Saudi capital rose by almost 24 percent in the year to Q3, according to CBRE, with rents currently at SAR2,617 ($712) per sq m.  Observers say Saudi Arabia’s […]

On top of the world: as Dubai's largest real-estate developer, Emaar is seen as a safe bet for investors

Investors favour Emaar for Dubai property returns

Dubai’s residential property sector rebound has reaped huge profits for the emirate’s developers and landlords. Yet for equity traders, there is really only one investible conglomerate: Emaar Properties and its subsidiary, Emaar Development. There has been upheaval among second-tier developers listed on Dubai’s bourse, while the other major players, such as Nakheel, Dubai Properties and […]

Houses under construction in Turkey. The residential property price index has increased by 95.9 percent from a year ago

Turkish house sales drop 14% as prices double

House sales in Turkey during the first 10 months of 2023 were down by 14.3 percent year on year to just under 1 million, according to data from the Turkish Statistical Institute. Pressure on Turkey’s housing market has been exacerbated by the ongoing cost-of-living crisis, high inflation and an influx of displaced people from the […]

An impression of the planned Oryx logistics site in Milton Keynes

Saudi-backed Oryx plans logistics centre in UK

Oryx Real Estate Partners, a UK-based investment and asset manager, has acquired a five-acre development site in Milton Keynes on behalf of a consortium of GCC family offices, mainly from Saudi Arabia.  The company, whose chairman and co-founder Fawaz Al Rahji is also chairman of Saudi family office Al Rahji Partners, plans to invest between […]

A trader at the Egyptian stock exchange in Cairo. Qatar has already invested over $5.5bn in Egypt's financial, real estate and energy sectors

Qatar to invest $1.5bn in Egypt’s industrial sector

Qatar will invest $1.5 billion in Egypt’s industrial sector in 2024, according to Egyptian commercial service chief Yahya Al-Wathiq Billah. This is the first investment by the Gulf nation in Egypt since signing a bilateral agreement in March 2022, Egypt Today newspaper reported. Billah said that trade volume between the countries increased by 47 percent […]

The Pointe on Palm Jumeirah is one of many Dubai destinations undergoing redevelopment

Dubai real estate faces price drop of up to 10%, says S&P

Dubai’s real estate market is poised for a 5 to 10 percent slump in prices in the next 12 to 18 months, an analyst said on Wednesday. The shift in the market – an important driver of the emirate’s economy – will be driven by imbalances in supply and demand, according to Tatjana Lescova, associate […]

A view of Deyaar's Midtown project in Dubai Production City

Deyaar plans new launches as profit rises three-fold

Deyaar Development, majority-owned by Dubai Islamic Bank (DIB), reported a nearly three-fold rise in net profit for the third quarter on new project launches amid a recovery in the emirate’s real estate market. Net profit for the three-month period reached AED119 million ($32.41 million), compared to AED36.35 million a year earlier, the developer said in […]

Emaar Properties, Dubai's largest developer, reported nine-month net earnings of AED8.23 billion ($2.2bn), compared to AED5.79 billion in the same period last year

Emaar earnings jump 42% on back of real estate demand

Shares in Emaar Properties were up 4.4 percent in trading on Friday off the back of strong financial results announced for the first nine months of the year. Dubai’s largest developer reported a 42 percent year-on-year increase in profit on higher property sales and a surge in real estate demand. The developer’s nine-month net earnings […]

Seera Group will be the primary investor in the development of Kayanat Central Business Park in Riyadh

Seera Group invests $160m in Riyadh business park

Saudi travel major Seera Group plans to invest SAR600 million ($160 million) in a real estate fund to finance the development of a new business park in Riyadh. Seera will be the primary investor in the Sharia-compliant fund with the aim of developing the Kayanat Central Business Park in the north of the Saudi capital. […]

ADCB to sell majority stake in property unit for $109m

Abu Dhabi Commercial Bank (ADCB) has received an offer to sell a majority stake in its wholly-owned property management subsidiary Abu Dhabi Commercial Properties (ADCP). The binding offer comes from Nine Yards Plus Holding, an Abu Dhabi-based EIH Ethmar International Holding (EIH) subsidiary, the lender said in a statement published on the Abu Dhabi stock […]

An artist's impression of Dar Al Arkan's Aida, a mixed-use project, overlooking Muscat, Oman

Dar Al Arkan profit nearly doubles as lease revenue rises

Profits almost doubled for the third quarter at Saudi Arabia’s largest developer, Dar Al Arkan, driven by a fall in operating expenses and an increase in lease revenue. For the quarter ended September 30 2023, profits rose 91.27 percent to SAR151.91 million ($40.49 million), from SAR79.42 million a year earlier, the company said in a filing to […]

RAK Properties profit

RAK Properties profit nearly triples on robust demand

RAK Properties reported a 282 percent increase in net profit in the third quarter of 2023, as new project launches propelled a 137 percent growth in revenue. The developer’s net profit reached AED105.17 million ($28.63 million) in the three months ended September 30, 2023, compared to AED27.55 million a year earlier.  Revenue hit AED685.56 million […]

Haven is the first of three new residential communities to be developed in Dubai as part of a joint venture between Aldar and Dubai Holding

Aldar nets $844m in sales from Dubai project sell-out

Aldar Properties sold 786 villas and townhouses at its first residential development in Dubai, generating over AED3.1 billion ($844 million) in sales in one day. The developer launched 468 units in the first phase of Haven and another 318 units due to high demand, the Abu Dhabi-headquartered developer said in a statement. Overseas and expatriate […]