haus & haus: Dubai’s 2024 Real Estate Defies Slowdown with AED 423 Billion in Sales

In line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, to develop advanced, resilient and world-leading infrastructure and enhance the efficiency of the stormwater drainage system to meet the emirate’s future growth requirements, Dubai Municipality has awarded contracts for four new projects under Phase 3 of the ‘Tasreef’ Programme to develop Dubai’s stormwater drainage network. With a total value of AED3 billion, the projects will involve the construction and extension of approximately 100 kilometers of main stormwater drainage lines, with diameters of up to 3 metres, further enhancing the resilience of the city’s drainage network.

The new projects are distributed across vital areas representing key economic, commercial, industrial and tourism corridors across the emirate, covering nearly 100 square kilometers. They include the development of stormwater drainage systems and networks in Jumeirah, Umm Suqeim, Al Safa, Al Manara, Al Quoz, Al Barsha, Al Wasl, Za’abeel, Al Bada’a, Al Satwa and Al Marmoom, connecting these areas to Dubai Municipality’s main stormwater drainage network. The projects will increase the network’s water-flow capacity, enhance operational resilience and support sustainable urban growth.

The third package of projects represents an integrated extension of the Tasreef Programme, one of the UAE’s largest strategic and transformational infrastructure projects. The programme is classified as the largest integrated stormwater collection programme in a single system in the region and one of the most operationally efficient. Implemented by Dubai Municipality at a total cost of AED30 billion, it will provide a highly resilient and advanced drainage system capable of meeting Dubai’s future requirements.

The program will enhance the city’s readiness and preparedness to address climate-related changes, increase stormwater drainage capacity by 700 percent, and reduce costs associated with the construction of pumping stations and operations and maintenance by 20 percent. It will also extend the lifespan of the network and support the objectives of the Dubai 2040 Urban Master Plan and the UAE’s Net Zero 2050 Strategy.

Eng. Marwan Ahmed bin Ghalita, Director-General of Dubai Municipality, said, “Dubai Municipality continues to implement the phases of the ‘Tasreef’ Programme, one of Dubai’s largest strategic infrastructure projects, enhancing its efficiency and resilience, making it more sustainable and strengthening its ability to address both future climate change and accommodate population and urban growth.

Our objective is to build a comprehensive and integrated model for a leading future city, characterized by a sustainable urban system and advanced infrastructure that serve people, enhance their quality of life and well-being, and strengthen their safety and security. At the same time, it provides a stable and enabling environment for the growth of businesses and economic, commercial and tourism activities, reinforcing Dubai’s position as the world’s best city to live, work, invest and visit.”

Eng. Adel Mohammed Al Marzouqi, CEO of the Waste and Sewerage Agency at Dubai Municipality, said, “The third phase of the Tasreef Programme’s projects will serve areas that represent vital arteries across the emirate, marking another pivotal step in developing Dubai’s stormwater drainage system as well as making it more resilient and efficient in managing rainfall under different conditions and future climate changes. We are committed to ensuring that these projects advance the broader objectives of the Tasreef Programme by reducing water accumulation, protecting residents and assets, improving the quality of services, enhancing the city’s readiness and traffic flow, and safeguarding the sustainability of its resources.”

The Jumeirah and Umm Suqeim Stormwater Drainage Network Development Project is one of the largest projects under the third phase of Tasreef. It aims to enhance infrastructure readiness along key strategic corridors across the two areas, serving communities extending from Umm Suqeim 1, 2 and 3, and Umm Al Sheif to Jumeirah 3, Al Safa 1 and 2, and Al Manara along the Dubai Water Canal.

The project includes the construction of approximately 42 kilometers of main stormwater drainage lines, enhancing the resilience, efficiency and capacity of the drainage system.

The Stormwater Drainage Network Development and Capacity Enhancement Project between Sheikh Zayed Road and Al Khail Road focuses on developing resilient and sustainable infrastructure capable of accommodating residential and urban growth and enhancing the city’s readiness and resilience.

The project includes the construction of 14 kilometers of main stormwater drainage lines in accordance with the highest international standards.

It will serve several of Dubai’s key strategic corridors and vital areas, including the Al Khail Road interchange towards Umm Suqeim, Umm Suqeim Road and Sheikh Zayed Road, in addition to First Al Khail Street, Al Marabea Street, Al Waha Street, Al Zumurrud Street and the connecting secondary roads.

The project will cover Al Quoz Industrial Areas 1, 3 and 4, as well as Al Barsha 1.

The Development of Main Stormwater Drainage Lines along Al Wasl Road Project aims to serve areas east of the Dubai Water Canal, including Za’abeel 2, Al Wasl, Jumeirah 1 and 2, Al Bada’a, Al Satwa, and Dubai World Trade Centre 1 and 2, covering an area of up to 25 square kilometers.

The project includes an integrated stormwater drainage network comprising main and secondary conveyance lines and associated infrastructure, with a total length of 21 kilometers. This will enable the drainage and management of large volumes of water flow with operational flexibility, helping to prevent water accumulation.

As part of the third phase of the Tasreef Programme, Dubai Municipality will develop an integrated and sustainable stormwater drainage network in Al Marmoom, serving vital areas by implementing 23 kilometers of stormwater drainage infrastructure. This will ensure continuity of services and enhance the quality of the area’s urban infrastructure.

Dubai Municipality continues to implement strategic projects in accordance with approved timelines and operational plans, reaffirming its commitment to developing an integrated and resilient drainage system that contributes to reducing the risks associated with water accumulation, enhancing the efficiency and sustainability of infrastructure, and strengthening Dubai’s readiness to respond effectively to climate change.

These efforts further support Dubai’s ambition to be recognized globally for the quality of its infrastructure and public services.

Delayed approvals and slow responses, Information fragmentation and administrative workload have been identified as the top project delivery hurdles facing construction teams as activity across the UAE continues to grow.

PlanRadar, a leading platform for digital documentation, communication and reporting in construction and real estate projects, in its Construction Survey Report 2026: Managing Project Changes in the Age of AI surveyed 1,728 construction professionals responsible for on-time and on-budget delivery across 14 countries in Europe, the Middle East and Asia-Pacific, including the UAE and Saudi Arabia.

The findings were also explored in PlanRadar’s webinar, Managing Mid-Project Changes in the Age of AI.

Ability to manage changes

The research comes as UAE construction output is projected to reach $130.8 billion by 2029, up from a record $107.2 billion in 2024, according to Knight Frank. As project volumes and stakeholder complexity increase, the ability to manage changes, approvals and project records efficiently will remain central to delivery performance.

One of the clearest concerns identified in PlanRadar’s research is the impact of delayed approvals and slow responses. These were the most common pain points reported in the management of mid-project changes, including RFIs, change orders and variation requests.

Nearly three-quarters of respondents said approvals are often received after agreed timeframes, while one in four estimated that delayed approvals typically add more than a month to project timelines.

Among teams where approvals are almost always late, month-long project delays were more than twice as likely as among those where late approvals are rare.

Clearer ownership, predefined approval routes

Ibrahim Imam, Co-Founder and Co-CEO of PlanRadar, said: “In a market delivering projects at the UAE’s current pace, small delays in decision-making can quickly become much larger delivery problems. Going into 2027, companies need clearer ownership, predefined approval routes and faster access to the information decision-makers need. The aim is not to eliminate change—change is inevitable—but to ensure every change is visible, traceable and acted on before it affects programme or cost.”

PlanRadar’s findings also show the financial impact of unmanaged changes. Two in three respondents said that mid-project changes lead to budget overruns in many or most of their projects. However, the research indicates that stronger process control can improve outcomes: four in five respondents using a central digital tool to track changes reported an improved ability to control costs or protect project margins.

Information fragmentation is another challenge. Nearly eight in ten respondents said that at least half of their project documentation is spread across unconsolidated channels, including emails, messages, phone calls and verbal instructions. Among those who could easily locate documentation, 70% felt confident that their records clearly showed responsibility for delays and cost impacts—double the proportion among those who found documentation difficult to locate.

Administrative workload

Administrative workload compounds these pressures. Nearly half of respondents reported spending 11 or more hours each week on administrative tasks. Among those using a central digital tool with integrated AI functionality, two in three said they save at least two hours per week, per project, on administration and coordination.

Andrey Belogortsev, Regional Manager for Mena and APAC at PlanRadar, said: “The immediate opportunity for construction teams is to build reliable, connected workflows around the information already being generated on site. When changes, approvals and supporting evidence are captured in one accessible record, teams can identify issues earlier, engage the right people faster and maintain accountability throughout the project lifecycle.”

“AI can add real value when it is applied to repetitive, time-consuming work within those controlled workflows. It should support professional judgement—not replace it—by giving project teams more time to focus on decisions, risks and exceptions that require their expertise.”

AI can reduce workload

The survey found that 58% of respondents believe AI can reduce workload across their biggest day-to-day challenges, while 65% believe it can streamline major administrative tasks.

Building on this need, PlanRadar has introduced AI Agents, allowing customers to create agents in plain language or use ready-made options to complete defined actions. Each action is logged, attributed and limited to the permissions of the user who created the agent, enabling teams to automate routine work while retaining oversight and control.

The value of real estate investments in Dubai has grown steadily over the past few years, rising nearly five-fold from AED148 billion ($40.2 billion) in 2021 to more than AED680 billion ($185 billion) in 2025, said top UAE brokerage W Capital Real Estate, adding the number of investments have jumped from 72,000 to 259,000 over the period.

This surge extended beyond the volume of capital invested. It was accompanied by a substantial expansion in the number of investors and investments, greater diversity in capital sources, it stated.

Based on annual reports and data published by the Dubai Land Department, the study found that this surge extended beyond the volume of capital invested. It was accompanied by a substantial expansion in the number of investors and investments, greater diversity in capital sources and a wider range of locations attracting funds.

The study traced a five-year upward trajectory during which the number of investors rose from 52,415 to approximately 193,100, while the number of investments increased from 72,207 to around 258,600.

The comparison also showed that investment value grew faster than participation, adding a qualitative dimension to the assessment of market performance beyond aggregate sales and real estate transactions, it stated.

The market began the period with investments of AED 148 billion in 2021, followed by AED 264.15 billion in 2022, approximately AED412 billion in 2023 and around AED 526 billion in 2024, before exceeding AED 680 billion in 2025.

Global capital, differing investment preferences

Based on approximate annual values, growth stood at 78.5% in 2022, 56% in 2023, 27.7% in 2024 and 29.3% in 2025. This trajectory demonstrates that investment inflows continued, although their rate of increase varied from year to year, it stated.

W Capital explained that these developments reflect the expansion of the market’s annual investment base: the value recorded in 2025 was more than 4.5 times the 2021 level. This comparison uses the real estate investment indicator, which is distinct from the total value of property transactions or sales.

The geographic origins of investments in 2025 revealed a strong international presence. Asia and Europe together accounted for AED496 billion, including AED308 billion from Asia and AED188 billion from Europe, stated the report.

Investments from North America reached AED54.63 billion, while Africa accounted for AED41 billion. At the subregional level, South Asia led with AED123 billion, followed by the Middle East at AED96 billion and Northern Europe at AED56 billion, according to figures published in the 2025 market review.

W Capital said that the widening range of markets supplying investment capital provides Dubai’s real estate demand with multiple international sources and creates more diverse requirements, spanning homeownership, rental yields and asset diversification.

The study did not make a year-on-year comparison of continental growth because the classification basis for certain geographic groupings differed between the 2024 and 2025 datasets.

Purchasing preferences differ

Purchasing preferences also differed markedly in 2025: 83.7% of non-resident investments went into off-plan properties, compared with 16.3% in ready properties, stated the W Capital Real Estate study.

Among residents, 51.2% of investments went into off-plan properties and 48.8% into ready properties.

The study attributes this divergence to differences in investment objectives and time horizons, including the desire to benefit from project development versus the need for a property ready for occupation or rental, it added.

Commenting on the findings, Walid Al Zarooni, Chairman of W Capital Real Estate Brokerage, said Dubai had not simply multiplied its real estate investments; it had also reshaped its investor base over five years.

The significance of this transition, he noted, lies in stronger capital flows alongside the entry of new investor segments and continued activity among existing investors.

“Investment decisions are no longer based solely on a property’s price and location. They are increasingly linked to net returns, operating costs, liquidity and long-term growth potential. New developments and a wider range of locations give investors more options for building balanced real estate portfolios,” explained Al Zarooni.

The emergence of new investment destinations alongside established locations confirms the expanding range of opportunities, he added.

Egypt’s Minister of Housing, Utilities and Urban Communities Randa El-Menshawy discussed plans to establish a real estate investment fund to maximize the economic and investment returns from assets owned by the New Urban Communities Authority (NUCA), according to a ministry statement on Wednesday.

The proposed fund aims to attract domestic and foreign capital, provide new sources of liquidity and financing, and build a diversified real estate portfolio capable of generating attractive investment returns and sustainable revenues.

The discussions focused on exploring innovative investment mechanisms to improve the management of NUCA’s real estate assets, increase their economic value and generate additional funding for development and urban projects.

El-Menshawy stressed the importance of studying various investment models to maximize returns from the authority’s real estate assets, taking into account the characteristics and potential of each asset, as well as available development opportunities.

She added that diversifying investment and financing mechanisms was an important step towards improving asset management efficiency and generating additional resources to support urban development plans and keep pace with the expansion of projects across Egypt’s new cities.

The meeting was attended by Walid Abbas, Deputy Minister of Housing for New Urban Communities, along with officials from the ministry and NUCA.

Major infrastructure projects worth billions of dirhams are expected to reshape Dubai’s real estate market by improving connectivity, supporting urban expansion and increasing the appeal of emerging residential and commercial districts, according to a leading UAE brokerage study by W Capital Real Estate Brokerage.

The study identified four major projects – the AED128 billion ($34.9 billion) expansion of Al Maktoum International Airport, the AED20.5 billion Dubai Metro Blue Line, the Fourth Federal Corridor and Etihad Rail – as potential drivers of property demand and investment across Dubai and the wider United Arab Emirates.

Property and land values around Dubai Metro Blue Line stations could rise by up to 25%, according to projections by Dubai’s Roads and Transport Authority (RTA). The project is also expected to generate more than AED 56.5 billion in economic, social and environmental benefits by 2040.

The findings underscore the growing importance of transport links and infrastructure in shaping real estate investment decisions, as developers and investors look beyond established property districts towards communities connected to new economic centres.

Metro expansion could support property demand

The AED 20.5 billion Blue Line will extend 30 km and include 14 stations, connecting established and emerging districts including Dubai Creek Harbour, Dubai Silicon Oasis, International City, Mirdif and Al Warqa.

The line is expected to serve communities with a combined population of more than one million people. Daily ridership is projected to reach 200,000 passengers by 2030 and approximately 320,000 by 2040.

Historical data cited in the study from property consultancy CBRE showed that residential properties within a 15-minute walk of Dubai Metro Red Line stations recorded average price growth of 26.7% between 2010 and 2022, compared with 24.1% across Dubai’s wider residential market.

W Capital said improved public transport access could support property values, although future performance would also depend on supply, demand, construction quality and the availability of community services.

Airport expansion puts Dubai South in focus

The expansion of Al Maktoum International Airport is another potential driver of long-term real estate demand, particularly in Dubai South and surrounding districts.

The AED 128 billion project is designed to accommodate up to 260 million passengers annually and includes plans for five parallel runways and 400 aircraft gates.

The development is expected to strengthen Dubai’s position as an aviation and logistics hub, potentially supporting employment growth and demand for residential, commercial and mixed-use properties.

Abu Dhabi is entering a major growth phase with the development profile of a far more established branded residences market, with 92% of projects in its pipeline now standalone, according to The Brand Standard, the inaugural annual report from specialist advisory firm Global Branded Residences (GBR).

The findings come as the global branded residences sector reaches 1,972 schemes across more than 100 countries, comprising 848 completed developments and 1,124 in the global pipeline.

The Brand Standard also finds that branded residences now achieve an average price premium of 44% compared with equivalent non-branded residential products globally.

Abu Dhabi now has 31 branded residence projects, comprising five completed developments and 26 in the pipeline. This makes the UAE capital the sixth largest city market globally by total project numbers, while its pipeline ranks joint third alongside Cairo and behind only Dubai and Miami.

What distinguishes Abu Dhabi from many other emerging branded residence markets is the speed at which it has shifted towards standalone development, where branded residences are developed without an operating hotel on site, stated the top advisory firm.

Standalone schemes account for 92% of Abu Dhabi’s pipeline and 83% of its total market, compared with 37% of branded residence projects globally.

GBR says the model typically becomes more prevalent as markets mature and buyers, developers and brands become increasingly comfortable with a branded residential proposition that does not rely on a hotel operating alongside it.

Abu Dhabi’s proximity to Dubai has helped accelerate that progression. Dubai is the largest branded residence market in the world and has one of the sector’s most developed standalone markets, with standalone projects accounting for 77% of its pipeline by development type.

Riyan Itani, Founder of Global Branded Residences, said: “Abu Dhabi has the world’s largest branded residences market next door, where developers, brands and buyers have already had significant exposure to the product and to the standalone model in particular.

“That experience is transferable. Abu Dhabi has been able to move much more quickly towards a development model that, in many markets, only becomes commonplace after branded residences have been established for a considerable period of time.”

The emirate’s pipeline spans both major hospitality groups and a growing field of non-hotel brands. Brands represented across Abu Dhabi’s completed and future projects include Mandarin Oriental, Four Seasons, St. Regis, W, Waldorf Astoria, Elie Saab, Jacob & Co., Henge, BRABUS and SHA.

Marriott is the most active parent group in Abu Dhabi with five developments, all of them in the pipeline, followed by Accor with three. At individual brand level, Mandarin Oriental and Four Seasons have two projects each, while Elie Saab is the largest non-hotel brand with two, both in the pipeline.

Abu Dhabi’s expansion forms part of a much wider growth story across Mena, which The Brand Standard identifies as one of the major centres of global branded residential development.

The region now has 426 branded residence projects, including 118 completed developments and 308 in the pipeline. MENA accounts for more than 27% of the global branded residence development pipeline, said the top advisory firm.

The UAE remains the region’s largest market, with 260 projects, including 185 in the pipeline. Saudi Arabia has 60 projects, of which 51 are in development, while Egypt has 46 projects, including 41 in the pipeline, it added.

Oman’s construction sector is poised for solid growth, supported by a project pipeline worth $120 billion through 2030 covering major sectors including infrastructure, tourism and industrial development, with industry opportunities set to take center stage at the Project Oman 2026 event, which kicks off next month in Muscat.

To be held at the Oman Convention & Exhibition Centre (OCEC) from November 2 to 4, the fifth International Construction Technology, Infrastructure and Building Materials Exhibition, will serve as a key business platform connecting global solution providers with decision-makers in Oman’s rapidly evolving construction market.

Organized by IFP Group in partnership with Al Nimr International Exhibition Organizers, the three-day event aims to connect international technology and solution providers with decision-makers and industry stakeholders in Oman’s construction market.

Growing construction market with high demand

Oman’s construction sector is driven by major investments in infrastructure, tourism, logistics and industrial development. Large-scale projects across transport networks, smart cities, and mixed-use developments are fueling demand for innovative construction technologies, building materials, and sustainable solutions, stated the organizers.

Project Oman 2026 will showcase a comprehensive range of products and services across the construction value chain, including building materials, construction equipment, HVAC systems, water technologies, smart building solutions, and green building innovations.

Aligned with Oman Vision 2040, Project Oman contributes to national priorities focused on economic diversification, infrastructure expansion, and sustainability.

The exhibition highlights solutions that enhance efficiency, promote digital transformation, and support environmentally responsible construction practices, they stated.

By bringing together industry leaders and innovators, the event plays a vital role in advancing knowledge exchange and strengthening the competitiveness of Oman’s construction sector, they added.

High-impact business features

Project Oman 2026 is designed to maximize business engagement through a range of high-value features. The B2B Matchmaking Platform enables exhibitors and visitors to pre-schedule meetings, connect efficiently with targeted partners, and generate qualified business opportunities during the exhibition, said the organizers.

The Specialized Conference will bring together industry experts, policymakers and professionals to share insights on market trends, emerging technologies, sustainability and the future of construction in Oman and the wider region.

Together, these features enhance networking opportunities, facilitate partnerships, and create a results-driven environment for all participants.

With its strategic location, stable economic outlook, and ambitious development plans, Oman continues to position itself as a key investment destination in the region. Project Oman 2026 offers international companies a unique opportunity to access this growing market and engage with stakeholders shaping the country’s future.

As the sultanate advances its infrastructure and urban development projects, Project Oman remains a leading platform for driving innovation, collaboration, and sustainable growth.

The Modern Buildings Summit, taking place on 14–15 October 2026 at Dusit Thani, Dubai, will bring together professionals, innovators and decision-makers shaping the future of the built environment across the GCC.

The summit will examine how buildings can become smarter, more sustainable, efficient and resilient, with discussions covering green building strategies, low-carbon development, energy efficiency, sustainable materials, water management and technologies that support the transition towards net-zero buildings.

The programme will explore the practical application of smart building technologies, AI, digital twins, building automation, HVAC efficiency, lighting, façades, solar technology, EV charging, security and advanced construction solutions. Sessions will also address the modernization of existing buildings through retrofitting, adaptive reuse and improvements that can extend building life while reducing energy use and environmental impact.

Sustainability will remain a key focus throughout the summit, with discussions on net-zero buildings, water reuse, sustainable construction materials, carbon-positive assets and resource-efficient building operations. The event will also look at how technology and better design can improve performance while supporting long-term environmental and operational goals.

The summit will bring together developers, building owners and operators, architects, designers, consultants, MEP contractors, facility managers, government representatives, sustainability professionals, engineers, procurement teams and technology providers, creating a platform for knowledge exchange, industry connections and new business opportunities.

14–15 October 2026 | Dusit Thani, Dubai, UAE

NEAT Development has entered Egypt’s real estate market as a new brand under an investment group operating in real estate development and contracting, with plans to develop four projects with targeted investments of around EGP 10bn.

The company is backed by six founders and partners with more than 13 years of experience in developing and executing real estate projects.

NEAT plans to launch three of its projects in November, followed by a fourth project in January.

The company’s strategy focuses on self-financing land acquisitions and starting excavation and construction before launching units for sale, allowing it to establish construction progress ahead of commercial launches.

Mahmoud Tolba, CEO of NEAT Development, said the company is initially focusing on Sheikh Zayed and 6th of October, with plans to expand into East Cairo.

He said the founders have participated in developing and delivering more than 25 projects comprising over 2,000 residential, commercial, medical, and administrative units, with previous sales exceeding EGP 10bn.

NEAT’s project pipeline includes Business Lab, a commercial and administrative development near Gezira Sporting Club, with investments of about EGP 1.6bn. The project covers 3,500 square metres and has a built-up area of 10,000 square metres, with excavation and construction already underway.

The company is also preparing a villa-only residential project in Sheikh Zayed’s Green Belt, with investments of nearly EGP 1bn on a 14,000-square-metre plot.

Another project, El Nozha, is located opposite Al Ahly Sporting Club in Sheikh Zayed and will combine hospitality, commercial, and residential uses. The project will be developed on 3.5 feddans, with investments of around EGP 3bn, including 80 hotel rooms and 130 residential units.

The fourth project, located opposite Sheikh Zayed Specialized Hospital, will combine medical and commercial uses, with investments approaching EGP 2bn.

Tolba said NEAT aims to complete and deliver its projects within 24-30 months of land acquisition, with construction and sales activities proceeding in parallel.

The company is working with Hafez Consultants, Azure Planning and Architecture, and SEGMENTS Architects, while Gateway Financial Services has been appointed as its financial and investment adviser.

A bold 1950s home in Palm Springs, California, adorned with eight colorful murals by the late artist Shawn Savage, is coming to market ahead of the city’s annual Modernism Week.

The white stucco home on El Camino Way, built in 1954 and recently renovated, has an asking price of $2.295 million. Its staggered facade features three playfully abstract murals on either side of double-height hot pink doors.

MORE: Megamansion Outside Princeton, N.J., With a Pub and Two-Story Library Heads to Auction

The sellers are Los Angeles-based partners John Freeman and Mathieu Faure, who knew it was “the one” when they saw it after several months of searching in the winter of 2023. “It’s a happy house,” Freeman said. “We really liked the feel of the house: the uniqueness, the openness, the brightness—and the art.”

Located in the Mesa neighborhood of Palm Springs, which backs up to the San Jacinto Mountains, the 2,237-square-foot house features three bedrooms, an angled bonus room and a yard with a pool, desert mountain views and another colorful mural running alongside the pool.

“I never thought in my life I would have a house with pink doors,” said Faure, a producer at Apple TV who is originally from Paris. “It’s so colorful, it’s so different. And so Palm Springs.”

The layout of the home creates a smooth flow from the front doors through the open-plan common area—a foyer, bar, and living and dining room—into the kitchen around a fireplace wall and out to the yard. A corridor leads to a private bedroom wing, where the primary suite has floor-to-ceiling windows and the primary bath is only a tad smaller than the bedroom.

Faure has filled the home with Jonathan Adler furniture, rugs and accessories, riffing on the energetic California vibes of the house to create an aesthetic of “modern American glamour,” he said.

“It was enjoyable for me to play with different types of furniture and make this house ‘happy chic,’ as I describe it,” he said.

MORE: Beverly Hills Villa of Late Philanthropist Glorya Kaufman Sells for $19.25 Million

“He did a fantastic job,” said Freeman, who is an attorney and consultant. “It does kind of bring a smile to my face whenever I walk into the house.”

Since the furniture and decor were chosen for the particularities of the space, the couple is open to selling them with the home. Their West Hollywood house is already furnished; the collection doesn’t match the vibes of a Houston loft they bought near family; and Faure can’t imagine these pieces in New York—where he’s lived in the past—he said.

The duo bought the Palm Springs house for $1.925 million in 2024, according to property records, and will list the home Monday. They are represented by Stewart Smith, Patrick Jordan and Kevin Stanley of Bennion Deville Homes/Luxury Portfolio International.

The previous owners had purchased the home in 2021 for $975,000 and then spent more than two years and $700,000 on the renovation, according to Realtor.com. They commissioned Savage, a local Palm Springs artist and painter known for his joyful abstract work, to decorate the home.

MORE: Alpine Villa From Lady Gaga Movie ‘House of Gucci’ Lists for €2.9 Million

Savage, who died in 2024, lived in the Coachella Valley from 2003, and his work can be found in various local institutions and is on exhibit at the Illumine Gallery in Palm Springs. “Some artists pass through a place. Shawn Savage became a part of it,” the gallery’s description states.

Unsurprisingly, the murals invite lots of friendly conversations, as well as guided tours and interested lookers, but never to a degree that it disturbed the peacefulness of their home or the neighborhood, the sellers said. “It felt like living in an art gallery, and you have the exterior that you would share with the world,” Faure explained.

The neighborhood also played a role in their decision to buy, because of its access to the hiking trails of the San Jacinto Mountains, the lack of through-roads and the neighborly environment.

“It’s a very friendly place,” Faure said.

A growing number of major UAE property groups are turning their attention to Australia, with BNW Developments the latest to establish a local presence.

BNW has officially opened a Sydney office after hosting more than 300 investors, property professionals, wealth advisers and industry figures at its launch event.

The new office will give Australian buyers local access to BNW’s portfolio of residential and hospitality-led developments in Dubai and Ras Al Khaimah. Its projects include branded residences and waterfront developments combining private homes with hospitality, dining, leisure and tourism facilities.

BNW has an AED32 billion development pipeline, equivalent to approximately $12 billion, spanning projects in Dubai and Ras Al Khaimah. Its portfolio includes developments associated with Tonino Lamborghini, Radisson Blu and Wyndham Hotels & Resorts.

Among them is Tonino Lamborghini Residences in Ras Al Khaimah. BNW is also active on Al Marjan Island, the waterfront destination where the Wynn Al Marjan Island integrated resort is under development.

The developer recently announced Dolce Residences in partnership with Wyndham Hotels & Resorts. Billed as the world’s first residences carrying the Dolce name, the boutique Al Marjan Island project is planned to include 93 premium residences and five retail tenancies.

BNW Developments chairman and founder Dr Ankur Aggarwal said attendance at the Sydney launch indicated that Australians were increasingly interested in the UAE as both a property and lifestyle destination.

“The response to the opening of our Sydney office has been extremely encouraging,” he said.

“Dubai and Ras Al Khaimah offer a very different lifestyle proposition to Australia, from waterfront living and luxury hospitality to world-class dining, entertainment and tourism.”

Dr Aggarwal said the Sydney office would allow buyers to examine BNW’s portfolio locally and work with a team familiar with the Australian market.

The move comes as Australia attracts increasing interest from UAE-based developers seeking opportunities beyond their home market.

Arada entered Australia in 2024, initially announcing a $2.5 billion Sydney pipeline expected to deliver more than 2,500 homes. Its Australian plans have since expanded to eight projects comprising more than 5,000 homes, including a recently announced twin-tower development at Broadbeach on the Gold Coast.

The company has also acquired the NSW arm of tier-one contractor Roberts Co, giving it greater control over construction and delivery as it builds its Australian business. Globally, Arada says its portfolio of existing and future developments across the UAE, Australia and the United Kingdom is valued at AED130 billion.

Dubai-headquartered Sobha Realty is also laying the foundations for a substantial Australian presence. The developer has established local operations and acquired sites in Sydney and Queensland, describing its entry as a long-term commitment to the market.

Sobha has expressed interest in opportunities across Brisbane, the Gold Coast and Sunshine Coast, while its Australian website says new projects will be announced shortly. The expansion follows AED30 billion in global sales during 2025 and forms part of a wider international growth strategy encompassing Australia and the United States.

BNW’s Sydney opening reflects both the international ambitions of UAE developers and growing Australian awareness of the Emirates’ property market.

While the UAE and Australian markets differ considerably, the arrival of BNW, Arada and Sobha points to a broader exchange of capital, expertise and buyers between the two countries. For Australians considering offshore property, the opening of local offices may also make it easier to assess projects, understand the purchasing process and undertake appropriate due diligence before committing.

The Sultanate of Oman is set to deliver 700 new hotel rooms between now and the end of 2026, taking total inventory to 40,800 keys, according to leading real estate advisory and hospitality property consultancy Cavendish Maxwell.

Oman opened 400 new rooms in H1 2026 – all in Q1 – amid reduced hospitality sector activity as regional travel disruptions affected international connectivity and tourism trade.

The Khareef and winter travel seasons will be key drivers in the country’s H2 hospitality performance, the company said.

Oman welcomed 992,000 guests at 3-5 star hotels in H1, down 13 per cent on the same period last year. Airport passenger traffic declined 9.3 per cent to 6.3 million, according to Cavendish Maxwell’s latest research, released in the run up to the 2026 edition of Future Hospitality Summit World.

Khalil al Zadjali, Head of Oman at Cavendish Maxwell, said: “Oman’s hospitality sector entered H2 in a challenging environment. While the outlook remains sensitive to prevailing travel conditions, the July to December period typically accounts for a significant share of tourism activity, contributing 52 per cent in hotel revenue and guest volumes last year.

“The recent Khareef season – Salalah’s peak tourism period – coupled with the upcoming winter months will indicate how effectively seasonal demand supports the wider market following the H1 disruption, which was most pronounced in the second quarter. Government and tourism sector initiatives – such as international promotions and partnerships with airlines and travel trade partners – should also help strengthen demand.”

REVENUES AND ROOM RATES

Oman’s 3-5 star hotels generated RO 124.2 million (US$322.7 million) in total revenue in H1, down around 12 per cent against H1 2025. Revenue growth was strong at the beginning of the year, increasing nearly 27 per cent year-on-year in January and almost 9 per cent in February, before declining from March. Following the sharpest contraction in April, when revenues fell 64.5 per cent compared to the previous April, the pace of decline moderated in May and June, at around 28 per cent and 15.5 per cent respectively.

Room revenue was down 11 per cent to RO74 million (US$192 million), with other revenue declining by 13 per cent to RO 50.2 million. The decline in ‘other’ revenue is partly because domestic and regional travellers typically spend less per stay than long-haul visitors, Cavendish Maxwell said.

Average room rates (ARR) followed a similar pattern, with a robust start to the year before weakening in Q2. ARR was up nearly 19 per cent year-on-year in January at RO 58.3, and more than 20 per cent in February to almost RO 61. March was on a par with March 2025.

The sharpest ARR decline (around 43 per cent) came in April but, by May, it had partially recovered, increasing more than 8 per cent year-on-year to RO 43.7 (US$113.6) as Eid Al Adha boosted travel demand.

Occupancy rates across Oman averaged 46.3 per cent in H1, down more than half compared to the same period last year. Again, performance was impressive in January and February, with occupancy around 70 per cent, before dropping from March. The decline was most acute in Q2 as regional tensions weighed in on international travel and, while domestic visitors provided some support, it was not enough to compensate for the overall decline in visitors.

After a January year-on-year increase of 7.3 per cent in guests, volumes declined monthly, reflecting air disruption across the Gulf. The steepest drop was in April (43 per cent), but performance picked up again in May, when the decline narrowed to 2.6 per cent as conditions normalised and Eid Al Adha supported travel demand.

Omani nationals represented the biggest source market in H1, with 396,000 guests accounting for almost 40 per cent of all visitors – a rise of 3.1 per cent on the same period last year. Europeans (247,000) took second place, at 25 per cent, but their numbers were down 31 per cent compared to last year. With 163,000 visitors, Asians made up 16 per cent, with a marginal year-on-year increase of 0.6 per cent.

Most other source markets saw lower year-on-year guest volumes, with the GCC down 17 per cent, other Arab countries down 15 per cent, the Americas down 22 per cent, Africa 10 per cent and Oceania 61 per cent.

After delivering 400 new rooms in H1 – all between January and March – Oman is set to bring another 700 to the market by December 2026. A further 1,500 are scheduled in 2027 and 1,600 in 2028, taking total Oman room inventory to 43,900 by end of 2028.

Delivering Saudi Arabia’s next generation of giga and mega projects will require more than ambitious targets. As the Kingdom moves from vision into increasingly complex stages of execution, the strength of the organizations, people and systems responsible for bringing these developments to life will be critical to achieving consistent, high-quality outcomes.

This will be a key focus at Saudi Mega Projects 2026, taking place from September 28–30 in Riyadh. Organized by MEED under the theme “Turning Vision into Value,” the three-day conference will bring together senior leaders from government, development, construction, investment and the wider project ecosystem to examine the priorities shaping Saudi Arabia’s next phase of growth. The program will address areas including investment, procurement, project execution, infrastructure and technology, alongside the wider requirements for supporting the Kingdom’s ambitious development program.

As part of the conference’s Contractors Leadership Forum, Mr. Mohamed Amer, Managing Director, International Code Council (ICC) – MENA, will participate in the ‘Building Contractor Excellence for Saudi Arabia’s Next Phase of Growth’ panel on September 29 at 2:00 PM. The discussion will look at how contractors can respond to evolving expectations from project owners while strengthening the leadership, workforce and operational foundations needed to deliver increasingly demanding projects.

For Amer, the conversation is ultimately about strengthening the sector beyond individual projects and building the conditions for sustained performance.

“The next phase of Saudi Arabia’s development will place even greater expectations on the organizations responsible for delivering these projects,” said Amer. “Contractor excellence is not only about the ability to deliver at speed, but also about building the leadership, workforce capabilities, processes and partnerships that support consistent quality and performance. As the Kingdom’s project pipeline continues to evolve, strengthening these foundations will be critical to creating a contracting sector that is equipped for the opportunities ahead.”

The discussion will further look at how a more resilient and competitive contracting sector can support Saudi Arabia’s long-term development ambitions. This includes strengthening workforce capability, encouraging operational excellence and creating greater consistency across project delivery, priorities that extend beyond individual developments to the overall maturity of the construction market.

For ICC, participation in the forum provides an opportunity to contribute to the wider conversation around the practices and conditions that support effective project delivery, while bringing together perspectives from across the construction ecosystem.

As Saudi Arabia enters a critical stage of its Vision 2030 program, attention is increasingly turning from the scale of the opportunity to the capabilities required to realize it. Saudi Mega Projects 2026 will provide a platform for industry leaders to examine these priorities and consider how the Kingdom’s construction sector can continue to strengthen in preparation for the years ahead.

For years, tech entrepreneur Asher Waldfogel and his wife, Helyn MacLean, dreamed of building a modern house in Palo Alto, Calif.

The couple, however, worried about clashing with the Mediterranean-style architecture typically associated with their neighborhood of Old Palo Alto.

So they tapped architect Steven Ehrlich to create a design that paid homage to its surroundings with stucco, mahogany and titanium zinc cladding. They spent $20 million over several years building the house, completed in 2005.

Now looking to be closer to their adult daughter on the East Coast, they are putting the five-bedroom home on the market for $44 million—the most expensive listing in Palo Alto.

Waldfogel is an angel investor who co-founded Redback Networks, a telecommunications-equipment company. MacLean previously had a career in fundraising.

The couple purchased the roughly 0.4-acre site for $7.1 million in 2000 and demolished a circa-1930s Spanish Colonial home. The house they built pinwheels around a central staircase. It has 7,900 square feet of livable space, with four distinct courtyards and a pool.

A key feature of the home is a cast-in-place concrete wall, or spine, that is two stories high and about 80 feet long. “There’s a little bit of controlled chaos in what comes out of the form,” unlike a perfectly uniform surface, Waldfogel said. “If you want that, you do it in plastic.”

Waldfogel said he and his wife are thinking about the next phase of life now that their daughter is grown, although they have not decided where they will move. They also have a home in Sun Valley, Idaho.

“Right now we’re just trying to emotionally let go and decide what to do next,” he said.

Palo Alto, an epicenter of venture capital and tech startups in Silicon Valley, is home to some of the country’s biggest tech titans. Sales volume and prices are rising, with a median sale price of $3.5 million for the three months ending in August, up 5.8% year-over-year, according to real-estate brokerage Redfin.

Arthur Sharif of Sotheby’s International Realty—San Francisco Brokerage has the listing.