Dubai has officially started construction on Aeternitas Tower, which will be the world’s tallest residential clock tower, exceeding the height of London’s Big Ben by more than four times. Developed by London Gate in collaboration with renowned watch designer Franck Muller, Aeternitas Tower is also poised to be the tallest branded residence globally. The completion...
Bank Saudi Fransi (BSF) has announced a significant financing agreement worth 6 billion Saudi riyals, equivalent to $1.6 billion, with Diriyah Company for the development of the Wadi Safar destination. The announcement was made on Wednesday, with the agreement signed by Bader AlSalloom, the CEO of BSF, and Jerry Inzerillo, the Group CEO of Diriyah...
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of The Executive Council, has approved the allocation of land for the development of more than 17 000 housing units across Dubai. This decision was made during a meeting of The Executive Council on Wednesday. Under the Affordable Housing policy,...
Dar Global, a luxury real estate developer based in London, has announced the launch of DG Villas, a new collection of high-end residences located within the prestigious Jumeirah Golf Estates in Dubai. This ambitious project is valued at $381 million, or AED 1.4 billion, and is designed to blend exceptional architectural aesthetics with luxury amenities...
Recent observations suggest that the pace of residential rent increases in Dubai may be slowing down, particularly in specific areas. Betterhomes, a brokerage firm, reports an increase in rental inventory, indicating that more properties are becoming available for tenants. Rupert Simmonds, the Director of Leasing at Betterhomes, noted that this trend is reinforcing the idea...
Meraas, a subsidiary of Dubai Holding Real Estate, has awarded a contract exceeding AED 2 billion to Arabian Construction Company. This contract is for the development of the Design Quarter, located within the Dubai Design District (d3), a hub for global creativity and design. The Design Quarter will introduce the first residential community in d3...
The real estate market in the Middle East is experiencing a significant transformation, driven by a rising trend in mixed-use developments and the integration of advanced technologies aimed at enhancing efficiency, sustainability, and innovation. These developments, which combine residential, office, retail, and leisure spaces, are particularly flourishing in the UAE and Saudi Arabia, reshaping urban...
Sharjah-based real estate developer Alef has unveiled “Deem,” the fourth and final neighborhood in the Hayyan residential community. This new addition represents a significant investment in the area, with the overall Hayyan project valued at AED3.5 billion ($953 million). Deem will consist of 313 residential units, designed to enhance the community’s nature-inspired lifestyle. The neighborhood...
United Arab Emirates developers are set to invest more than $3 billion in luxury real estate projects in the Maldives by 2030. This significant investment is expected to transform the island nation from a solely tourism-focused destination into a lucrative second-home market for the ultra-wealthy, with potential returns of up to 20 percent, according to...
Dubai’s real estate sector is on a transformative path toward achieving a net-zero built environment by 2030. Key stakeholders, including developers, regulators, and investors, are aligning their efforts to make sustainability a central focus in the industry. Hisham El Assaad highlights that this shift is not just a trend but an operational necessity shaped by...