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The State Properties General Authority (SPGA) and National Centre for Privatisation and PPP (NCP) announced on Monday that 59 companies have submitted expressions of interest (EOIs) for the Quality Valley mixed-use Public-Private Partnership (PPP) project in Riyadh.

The EOI phase for the project was launched last month.

A joint statement said 53 Saudi companies and 6 international companies expressed interest in the scheme.

The interested companies include 36 developers and real estate developers; 11 contractors; three consultants; six equity investors and three firms from financial services sector.

The project is being procured under a design-build-finance-operate-maintain-transfer (DBFOMT) framework.

The concession includes a 32-year operational term and an additional three-year construction period.

The list of companies interested in the project are as follows:

Developers / Real Estate Developers

1. Abdulrahman Saad Alrashid and Sons (ARTAR) – Saudi Arabia
2. Ajdan Real Estate Development Company – Saudi Arabia
3. Al Bawani – Saudi Arabia
4. Al Gihaz Holding Company –  Saudi Arabia
5. Al-Ayuni Investment & Contracting Co. – Saudi Arabia
6. Alameriah Development  – Saudi Arabia
7. Alargan Projects Company –  Saudi Arabia
8. Al-Fahd Company –  Saudi Arabia
9. Alkhorayef Investment and Development Company –  Saudi Arabia
10. Al-Soliman Real Estate –  Saudi Arabia
11. Al Saedan Real Estate Company  – Saudi Arabia
12. ASYAD Holding Company –  Saudi Arabia
13. Arabian Construction Co. (ACC) – UAE
14. Business Deal Company (BDC)  – Saudi Arabia
15. Ezdihar Real Estate Company – Saudi Arabia
16. HAY Developments – Saudi Arabia
17. Heyazah Real Estate Development – Saudi Arabia
18. Kinan International – Saudi Arabia
19. Ladun Investment Company –  Saudi Arabia
20. Lamar Holding –  Bahrain
21. Ledar Investment  – Saudi Arabia
22. Liwan Real Estate Development  – Saudi Arabia
23. MADA International Holding – Saudi Arabia
24. Naif Alrajhi Investment – Saudi Arabia
25. Pan Kingdom Real Estate – Saudi Arabia
26. Refad Investment & Real Estate Development –  Saudi Arabia
27. Retal Urban Development Company –  Saudi Arabia
28. RIYMAR (AlMozaini Real Estate) – Saudi Arabia
29. Safari Group – Saudi Arabia
30. SkyBridge – USA
31. Sumou Real Estate –  Saudi Arabia
32. Tatweer (Joint Stock Company)  –  Saudi Arabia
33. Technical Development Company (TDC Contracting) –  Saudi Arabia
34. Telad Real Estate –  Saudi Arabia
35. Zamil Group Real Estate Company –  Saudi Arabia
36. ZEOOF Real Estate Investment and Development –  Saudi Arabia

Contractors

1. Al Kifah Holding Company –   Saudi Arabia
2. BEC Arabia – Saudi Arabia
3. BUNA Al-Khaleej Contracting Company (BUNA) – Saudi Arabia
4. Saudi Binladin Group Ltd –  Saudi Arabia
5. Fanar Arabian International Co.- Saudi Arabia
6. International Hospitals Construction Company (IHCC) -Saudi Arabia
7. Mohammed Ali Al-Swailem Trading & Contracting (MASCO) – Saudi Arabia
8. Mounes Mohamed Al Shayeb for Civil Construction (MOBCO) – Saudi Arabia
9. Shar Company – Saudi Arabia
10. Shibh Al Jazira Contracting Company (SAJCO) – Saudi Arabia
11. Urbas Middle East – Spain

Consultants

1. ALTERAZ Design Architectural and Engineering Consultant – Saudi Arabia
2. Dar Al Riyadh – Saudi Arabia
3. Meinhardt Group – Singapore

Equity Investors

1. Ahmed Al Thunayan Investment Group  – Saudi Arabia
2. Aldrees Industrial and Trading Co. (ALITCO) – Saudi Arabia
3. Tanami Holding – Saudi Arabia
4. OWN United – Saudi Arabia
5. SAH First Investment Company
6. ​Sumou Global Investment / Poly Manners Architecture (PMA) – Saudi Arabia

Financial Services Providers​​

1. GIB Capital – Saudi Arabia
2. MEFIC Capital – Saudi Arabia
3. SNB Capital – Saudi Arabia

Emaar Properties PJSC delivered a strong start to the year 2026, supported by sustained demand across its core segments, disciplined execution, and the Group’s diversified business model. Sustained sales activity, a stable base of recurring revenues, and robust operational performance contributed to overall financial strength and earnings visibility.

Emaar’s Q1 2026 results demonstrate the quality of its earnings profile, with growth delivered across both development and recurring-income businesses. Revenue increased by 23%, while EBITDA grew faster at 34%, reflecting operating leverage, portfolio quality, and sustained cost discipline. The quarter benefited from robust performance in the UAE development business, healthy occupancy across our malls and commercial assets, and continued contribution from our international portfolio. The Company remains focused on disciplined capital allocation, operational excellence, and converting its backlog into profitable growth.

Key Highlights with Strategic and Operational Milestones:

• Sales Growth: Property sales reached approximately AED 22.4 billion (US$ 6.1 billion) in Q1 2026, marking an increase of 16% compared to the same period last year, driven by continued demand across established communities and new project launches in the UAE.
• Backlog Growth: As of 31 March 2026, revenue backlog stood at approximately AED 163.4 billion (US$ 44.5 billion), reflecting an increase of 29% year-on-year and providing strong revenue visibility for the coming years.
• Revenue Growth: Total revenue for the period reached AED 12.4 billion (US$ 3.4 billion), representing growth of 23% compared to Q1 2025, supported by contributions from both UAE and international operations.
• Profitability: EBITDA reached AED 7.2 billion (US$ 2 billion), increasing by 34% year-on-year, supported by operational efficiencies and stable margins across all business lines. Net profit before tax also reached AED 7.2 billion (US$ 2 billion), marking a growth of 33% compared to the same period last year.
• Dividend Paid: Emaar recently declared and distributed a dividend equivalent to 100% of its share capital to shareholders, amounting to AED 8.9 billion (US$ 2.4 billion), marking the second consecutive year of such a payout.
• Strategically Positioned Land Bank: Emaar benefits from a substantial and diversified master-planned land bank, encompassing ~600 million sq. ft. of mixed-use development opportunities, of which ~317 million sq. ft. of land bank is in the UAE. This land reserve is strategically positioned to support the Group’s ongoing expansion and long-term value creation for its shareholders.
• Customer and Community Focus: Emaar continued to prioritise customer experience through quality delivery, innovative developments, and vibrant community offerings, including proactive preparedness and adequate measures during adverse weather conditions, ensuring safety, minimising disruption, and reinforcing community trust across its destinations.
• Talent Development: In addition to investing in talent and capability building, including leadership development and Emirati talent programmes, the Company supported employee well-being through initiatives focused on resilience and mental health during times of uncertainty.
• Operational Efficiency: The Group maintained a disciplined approach to cost management while enhancing operational effectiveness across its business lines.
• Sustainability: Emaar continued to advance its ESG agenda, focusing on responsible development practices and long-term environmental impact reduction. This included progress on its Net Zero 2050 Strategy and expansion of renewable energy initiatives.

Mohamed Alabbar, founder of Emaar, said: “Our performance in the first quarter of 2026 reflects the strength and resilience of the UAE economy, which continues to provide a stable foundation despite broader regional volatility. Recent geopolitical developments in the region have reinforced the importance of operating in markets defined by safety, institutional continuity, and long-term vision. The UAE’s stability is the result of decades of wise leadership, sustained investment in world-class infrastructure, and a clear, business-friendly policy environment. The sustained trust of our customers and investors enables us to maintain momentum, and we remain focused on delivering high-quality developments, operational discipline, and long-term value through a diversified and resilient business model.”

UAE Build-To-Sell Property Development

Emaar’s UAE build-to-sell property development business, led by Emaar Development PJSC (DFM: EMAARDEV), maintained strong momentum during the quarter, supported by healthy underlying demand, new launches, consistent project execution and a diversified portfolio of master-planned communities.

• Property sales reached AED 20.1 billion (US$ 5.5 billion), up 22% year-on-year
• Emaar Development PJSC (DFM: EMAARDEV) reported revenue of AED 6.9 billion (US$ 1.9 billion), up 36% and net profit before tax increased to AED 4.0 billion (US$ 1.1 billion), up 46%
• Including other UAE-based development operations such as Dubai Creek Harbour, revenue from UAE property development reached AED 8.9 billion (US$ 2.4 billion)
• Revenue backlog of UAE development projects stood at AED 143.3 billion (US$ 39 billion) as of 31 March 2026

During the quarter, the Group launched 10 new projects across key communities, including The Heights Country Club & Wellness, a nature-led master-planned development centered on wellness, green living, and integrated lifestyle experiences, further expanding its portfolio and strengthening its market position.

International Development

Emaar’s international development business continued to contribute to Group diversification and growth, with solid performance led by Egypt.

• Property sales: AED 2.3 billion (US$ 0.6 billion)
• Revenue from international operations: AED 0.7 billion (US$ 0.18 billion), up 5% year-on-year
• International development represented around 5.3% of total Group revenue in Q1 2026

Shopping Malls, Retail, and Commercial Leasing

Emaar’s malls, retail, and commercial leasing portfolio delivered another quarter of resilient growth, underpinned by high occupancy, strong asset quality, and improved lease rental performance on renewals.

• Revenue: AED 1.8 billion (US$ 0.5 billion), up 15% year-on-year
• EBITDA: AED 1.5 billion (US$ 0.4 billion), up 16%
• Average occupancy: 98% across the portfolio as of 31 March 2026

The portfolio continued to benefit from the strength of Emaar’s flagship destinations and differentiated customer offering.

Hospitality, Leisure, and Entertainment

Emaar’s hospitality, leisure, and entertainment portfolio delivered a stable performance during Q1 2026, supported by steady guest activity, although performance in March was affected by the ongoing regional situation.

• Revenue: AED 1.0 billion (US$ 0.3 billion), broadly in line with Q1 2025
• Average UAE hotel occupancy: 69% in Q1 2026

Recurring Revenue

Emaar’s recurring revenue portfolio remained a key source of earnings resilience and cash flow visibility, supported by its diversified base of malls, hospitality, leisure, entertainment, and commercial leasing assets.

• Recurring revenue: AED 2.8 billion (US$ 0.8 billion), up 7% year-on-year
• Recurring revenue EBITDA: AED 2.2 billion (US$ 0.6 billion), up 7%
• The portfolio contributed approximately 30% of total EBITDA in Q1 2026

While macroeconomic and geopolitical conditions remain dynamic, Emaar is well-positioned for continued growth, supported by strong market fundamentals, a high-quality development pipeline with a record revenue backlog of AED 163.4 billion (US$ 44.5 billion), and a resilient recurring income stream. The Group will continue to monitor market conditions closely and remain committed to disciplined execution, prudent capital allocation, and long-term value creation.

Jamal Living has announced plans for a new residential development in Al Barsha, marking its latest step in a growth strategy defined by on-time delivery and a focus on build quality.

With more than 30 years of experience across the UAE, Jordan, and Qatar, Jamal Living has delivered over 1,200 residential units, with over 20 projects completed or ongoing, maintaining a consistent 98% track record of on-time delivery. As a boutique developer, the company prioritizes quality over scale, maintaining close oversight across every stage of the development lifecycle.

The upcoming launch follows sustained progress at Solen Residence, where construction continues to advance in line with planned timelines. The project reflects the developer’s focus on execution, on-site performance, and consistency.

Solen Residence has now reached 10% completion, with construction progressing in line with its original delivery timeline.

At a time when segments of the market experienced delays, Solen Residence continued progressing without interruption, quietly reinforcing Jamal Living’s reliability where it matters most: on site. Exclusively presented by betterhomes, the project stands as a clear example of a developer that follows through, even in changing conditions.

“There will always be shifts in any market,” said Mohammad Yasin, Chairman at Jamal Living. “Our approach has been built around long-term planning and disciplined execution, ensuring we can move with clarity and maintain momentum regardless of external conditions.”

Jamal Living’s developments are shaped by a long-term perspective, with a focus on liveability, material quality, and considered design. Each project is approached with a clear sense of intent, balancing detail, durability, and overall value.

The new Al Barsha development is expected to reflect these principles, introducing a thoughtfully positioned residential offering within one of Dubai’s established communities. Further details will be announced in the coming weeks.

As Dubai’s real estate market continues to evolve, Jamal Living’s latest announcement signals steady, forward-looking activity from developers focused on consistency and disciplined growth.

MERED, the award-winning international real estate developer, has unveiled a remarkable floating sales gallery on the waters of Al Reem Island, created as an exclusive introduction to Riviera Residences, the developer’s landmark waterfront project in Abu Dhabi. The launch was attended by leadership from Abu Dhabi Global Market (ADGM), alongside senior executives from MERED and project partners, reflecting strong industry support.

Located directly on the water adjacent to the project site, the gallery presents an early view of Riviera Residences, which spans two prime plots totaling more than 23,400 square meters on Al Reem Island. Conceived as a tribute to the Mediterranean Riviera, the floating gallery’s interiors draw on both Mediterranean and Emirati design influences. The space has been purpose-built to reflect the core identity of Riviera Residences, a project in which the sea is not a backdrop but the defining element of its architecture, lifestyle, and character.

The development is designed by Pritzker Prize-winning architects Herzog & de Meuron, with landscape design by Michel Desvigne Paysagiste (MDP), technical leadership by DAR Al-Handasah, and enabling works by NSCC International Ltd. It will offer over 400 apartments and 11 villas, among them sky villas, bay villas, and a penthouse, alongside landscaped gardens and a vibrant waterfront promenade with cafés, boutique retail, and dining.

Michael Belton, CEO at MERED, commented: “Abu Dhabi is entering a defining phase in its growth as a global real estate destination. The city saw a 160% rise in real estate transaction value in Q1 2026 alone, reflecting a deepening appetite for premium development. At MERED, we believe that how a project is presented should be as considered as how it is designed. The floating gallery is a direct expression of what Riviera Residences stands for and allows clients to connect with the vision in its most authentic form.”

Abu Dhabi’s global appeal continues to accelerate, supported by an affluent and growing population and a regulatory environment that fosters transparency and investor confidence. Foreign direct investment in the capital’s real estate sector reached approximately AED 8 billion in Q1 2026, equivalent to the total FDI recorded across all of 2025, with investors from 99 nationalities contributing to the quarter’s performance.

Al Reem Island is one of Abu Dhabi’s most attractive premium destinations, ranked among the capital’s most active real estate areas. It sits in proximity to the Abu Dhabi Global Market financial center, prestigious international schools, Reem Central Park, Galleria Mall, and Saadiyat Cultural District. The island offers waterfront views, lifestyle amenities, and modern infrastructure that support the city’s vision for sustainable, high-quality communities.

The launch coincides with significant construction progress at Riviera Residences. MERED recently announced the completion of over 60% of enabling works, including guide walls, shoring, contiguous piling, and ground improvement, as well as deep foundation works. The progress underscores the resilience of Abu Dhabi’s premium residential market and the strength of the emirate’s off-plan delivery.

The Dubai real estate market showed continued resilience in April, recording 13,977 sales transactions worth AED48 billion.

A market update issued today by fäm Properties showed that activity strengthened month-on-month, with sales volume rising 3.5% compared to March, while total sales value increased by 10.7%.

The strongest growth came in the commercial sector, including offices and shops, with 561 sales transactions valued at AED4 billion, up 33.9% YoY and 36.2% month-on-month.

Apartment sales were also up MoM by 6.5% to 11,377 transactions worth AED24.1 billion, while plot sales rose 34.7% MoM to 237 deals valued at AED6.6 billion. The average property price per sq ft was up by 16.1% YoY to AED1,840.

Data from DXBinteract revealed that primary sales again dominated in April, accounting for 10,563 sales transactions totaling AED35.8 billion, compared with 3,414 resales valued at AED12.2 billion.

“Last month’s performance reflects the market’s underlying strength, with steady demand across both residential and commercial segments,” said Firas Al Msaddi, CEO of fäm Properties.  

“Despite ongoing geopolitical tensions, Dubai is benefiting from its reputation as a stable, transparent and well-regulated environment for investment. The continued dominance of primary sales also points to long-term confidence in the emirate’s growth and development pipeline.”

For the second month in succession, Dubai South was the best-performing area, with 1,171 sales transactions valued at AED2.7 billion, marking its sixth consecutive month in the top five.

TOP FIVE PERFORMING AREAS IN APRIL 2026

The most expensive apartment sold in April was a luxury property at Aman Residences Tower 2 at Jumeirah Second which fetched AED171 million.

Other luxury apartments sold for AED122 million at Baccarat Residence T1 at Downtown Dubai and AED118 million at Building C at Marsa Dubai. The most expensive villa went for AED76 million at Eden Hills.

With properties worth more than AED5 million accounting for 11.81% of sales, 12.65% were between AED3-5 million, 17.54% between AED2-3 million, 34.7% between AED1-2 million and 23.3% were below AED1 million.

Saudi-based First Avenue for Real Estate Development Company has announced that it had signed an addendum to its contract with Asas Makeen Real Estate for a key residential project in Al Hada District, setting the total project cost at about SAR86 million ($22.9 million).

The addendum was signed after completing detailed designs and defining technical specifications and quality standards, said First Avenue in its filing to Saudi bourse Tadawul.

The residential project is located on a land plot with a total area of 23,199.09 sq m.

The agreement follows the company’s earlier announcement in July last year, regarding the contract for the project’s execution.

The development aims to establish a townhouse residential compound within a fully integrated urban environment. The scope of the contract includes the full execution of the project on a turnkey basis, in accordance with the approved plans, and in compliance with the technical specifications and quality standards set for the project.

The total cost includes fees payable to Asas Makeen at a rate of 14.5%, it added.

The company said there were no delays related to the project, with the recent signing of the contract addendum.

Developer TerraLane Communities was about to start construction on two new housing communities in Arizona and Texas, projects that would create around 300 new single-family homes to rent out.

But before any shovels got in the ground, the Senate passed a bill that severely restricts the build-to-rent business. Uncertain about the industry’s legislative future, investors demanded that TerraLane pause the project. The firm had five other potential build-to-rent deals that it is no longer pursuing.

“These projects are designed specifically for families that can’t afford housing in the community,” said Chief Executive Steve La Terra. “This bill, which is designed to provide more housing, is doing the exact opposite.”

The U.S. Senate passed milestone housing legislation in March by the landslide vote of 89 to 10. The bill includes dozens of different proposals to make it faster and easier to build homes, such as streamlining environmental reviews and cutting regulations for factory-built homes.

But one of the bill’s provisions stopped home builders in their tracks. It would force developers to sell, within seven years of completion, newly constructed homes that they built solely for the purpose of renting.

Developers say that investors won’t put money into new rentals that they can own for only a few years before having to sell them off. Even though the bill isn’t yet law, investors and lenders are scurrying away from simply the threat of this legislation.

Already, at least $3.4 billion of investment for these so-called build-to-rent projects is frozen in place, according to an early survey of 14 build-to-rent firms by Inclusive Abundance and Up for Growth, both housing-policy lobby groups.

That translates to about 10,000 units of housing. And it is likely just a sliver of the impact across the entire build-to-rent industry, which roughly includes more than 1,700 firms, according to John Burns Research & Consulting.

If the Senate’s bill passes in its current form, build-to-rent owners say they will either have to reinvent their businesses or shut down entirely. Many of these firms say they can’t seamlessly pivot to building individual for-sale homes, which are financed, built and sold differently from their current models.

“It’s putting the industry out of business,” La Terra said.

Supporters of the provision say these build-to-rent communities crowd out homes that would otherwise be constructed for families to purchase.

And congressional aides said that during negotiations over this build-to-rent provision, the industry told them that build-to-rent units typically get sold within seven to 10 years anyway.

Republican Sen. Tim Scott of South Carolina and Democratic Sen. Elizabeth Warren of Massachusetts, co-authors of the bill, declined to comment on the industry’s pushback.

The seven-year sale clause is part of a larger proposed ban on large institutional investors buying up single-family homes, which President Trump ordered Congress to codify at the start of this year.

Institutional investors own a small piece of the nation’s overall housing stock. But their presence is more starkly felt in investor hot spots like Atlanta and Phoenix, where home buyers say deep-pocketed corporations are making it difficult for them to compete.

The build-to-rent industry is still relatively young. But these builders have been quickly growing their rental businesses as the cost of homeownership remains out of reach for many Americans. Build-to-rent developers say their properties offer a cheaper option in nice neighborhoods with good schools for families who couldn’t otherwise afford to live there.

House lawmakers passed their own housing package in February, which didn’t include a ban on single-family home investors. Some House members voiced opposition to the Senate’s version and demanded a formal negotiation process. Now the two chambers need to reconcile their bills.

On Wednesday, 76 House representatives, both Democrats and Republicans, signed a letter urging House Speaker Mike Johnson and Minority Leader Hakeem Jeffries to “strip or substantially revise” the seven-year sale provision of the Senate’s bill.

The longer this policy fight drags on, the more drastic measures build-to-rent owners are preparing to take.

“If something isn’t worked out in the next six months, we would have to completely come up with a new business strategy,” said Kelly Whiteley, chief executive of Hancock Builders, a general contractor for build-to-rent projects.

Some are turning rental communities that are midconstruction into for-sale homes that will be sold one at a time, likely to buyers who can afford today’s expensive home prices rather than to more budget-squeezed renters.

Others say that funds they had earmarked for new build-to-rent communities may now go to data-center development instead.

Many build-to-rent tenants would likely be forced to leave their homes if they can’t afford to buy their properties themselves. And converting build-to-rent communities to individual for-sale homes would be an entirely new construction project because these properties are often zoned for multifamily use and share utilities like underground electric wiring and water meters.

“You’d have to dig up the streets,” Whiteley said.

When Deborah and Bob Bradley moved from their Rancho Sante Fe home in Southern California to McCall, Idaho, Deborah’s one regret was giving up her 5-acre garden. Since long snowy winters precluded recreating her California landscape, she worked with their architect to bring the greenery indoors.

“My garden was my heaven, so we designed an indoor garden visible from every room in the house except the bedrooms,” says Deborah Bradley, 61, a custom jewelry designer. “I decided to make the atrium into a big piece of living art, with a huge mosaic in the middle and plants that change with the seasons and my mood.”

She and her husband, Bob, 75, an entrepreneur, designed their home in 2022 to be the epitome of indoor-outdoor living, with a seamless integration of green space to continue the connection year-round, says Cheri Reeves, a real estate broker with Engel & Voelkers in McCall.

According to research, biophilic home design, which creates a strong connection to the environment via natural light, organic materials, and living plants, reduces stress, improves health, and boosts productivity. Homeowners and their architects are seizing on these benefits, whether it’s a modern glass and wood home that integrates plants and trees throughout the living areas, a glass greenhouse designed for entertaining and relaxation, or a plant-filled atrium like the Bradleys’.

A Living Work of Art

When Bradley designed her indoor garden, it was important to make it easy to maintain yet adaptable to the season.

“Gardening is my hobby, so I love to move and change the plants according to the season or my whim,” Bradley says. “Sometimes I put in lavender for a fragrant garden. At Christmas we put in poinsettias and other times there are orchids or lilies there. Changing the textures and colors is easy to do by just moving plants around in the room. But anyone can just put in the plants and leave them.”

The 100%-controlled environment is maintained at a year-round temperature of 70 degrees. The plants are automatically watered with an irrigation system underneath the room, and there are grow lights to maintain appropriate levels of light for each plant.

“I never get sad during the shorter days of winter because we have extra daylight from the grow lights,” Bradley says. “It’s magical to sit here while it snows outside. This is my sanctuary and serves as a confessional place for intimate conversations, because it’s like sitting
in a garden.”

The glass ceiling can be opened for ventilation to regulate the humidity or temperature, and the atrium has a door to the backyard rather than a fully retractable wall, to control the environment and keep bugs and weeds out, she says.

“The glass doors on the inside of the house can be fully opened to the living room,” Bradley says. “We designed the kitchen so that there are no cabinets to block the view into the atrium. Even in the living room we have a ‘rain chandelier’ that’s transparent, so it doesn’t detract from the atrium.”

Bradley furnished the atrium with a comfortable daybed where she loves to read stories to her grandchildren.

“We made sure this space feels playful, like a fairy-tale room where it’s cozy and everyone can relax,” she says.

Bradley has traveled the world and brought back seeds as souvenirs to plant unusual specimens in her garden, which she calls her “postcards from around the world.”

“The atrium adds a magical element to this house,” Reeves says. “You can ski all day and then come home to be transported to a tropical garden with a koi pond and lilies in the middle of the house.”

The 13,232-square-foot house is listed for sale at $11.95 million.

Ocean Outside and Forest Inside

As if the spectacular Pacific Ocean views outside weren’t enough, architect Edward R. Niles designed a modern Malibu home centered around a dramatic indoor arboretum complete with mature trees. The triangular-shaped house, built in 1980, was owned by Tonight Show host Johnny Carson from 1984 until his death in 2005.

“The story is that Johnny Carson was invited to a party at this house and immediately said he wanted to buy it,” says Chris Cortazzo, a Compass real estate agent. “He paid about $9 million at the time.”

The home, which Cortazzo describes as “Hawaii-esque,” rests on a 4-acre cul-de-sac property on Point Dume overlooking the ocean, islands, and the “Queen’s Necklace,” which refers to the nighttime view of harbor and city lights from Malibu to the Palos Verdes Peninsula. The grounds have 327 feet of ocean frontage, a 2-acre park, tennis courts, fruit-tree orchards, rose gardens, and vegetable gardens, plus 50-year-old trees and a sculpture garden, according to Cortazzo. It’s listed for sale at $110 million.

“The main house is constructed of wood and glass triangles centered around the arboretum, which has stone floors, glass walls, and a 30-foot-high glass ceiling with a lattice of wood slats,” he says. “The arboretum, which functions as the main living room, is an amazing entertaining space, but it’s also a great escape for serenity, with its filtered natural light and all the greenery.”

The living room atrium includes indoor plant beds, trees, and a sunken copper-and-glass fireplace encircled by cushioned seating. Two steps up from the living room is a triangular dining room with ocean and pool views, plus a black marble lounge area with a bar.

The glass walls of the arboretum fully open to a two-tiered koi pond with a waterfall and a terrace for outdoor entertaining and dining overlooking the ocean, Cortazzo says. Beyond the koi pond is a saltwater pool with a waterfall grotto and a hot tub.

“When you open the gates to this property, it’s like you’re entering a park, with the mature trees that are integrated into the interior of the house found all around it,” Cortazzo says. “When you’re there, it’s like you’re in this oasis that you don’t want to leave. This is one of the most iconic properties you’ll ever find in Malibu.”

An Artist’s Colony and Private Residence in Sicily

While there are numerous buildings and features of this 19th-century estate in Sicily, a spacious greenhouse designed for entertaining and living stands at the core of the residence.

“The property was purchased three years ago, driven by the desire to create a true countryside residence: a place capable of hosting many people, large dinners, long evenings, moments of sharing, and above all, a space conceived as a private theater,” says Michele Prado, a real estate agent with Italy Sotheby’s International Realty in Noto Siracusa, Sicily.

“The idea was to imagine a house open to gatherings, able to welcome visiting artist friends passing through Noto,” Prado says. “Over time, the residence has become a natural convergence point for filmmakers, painters, actors, writers, and thinkers, a place where creativity finds both space and continuity.”

In the center of the property is a glass house overlooking a courtyard, which offers a flexible environment for events, exhibitions, or enjoying the timeless atmosphere of the courtyard with a contemporary touch, Prado says.

“The greenhouse represents the heart of the home,” he says. “It’s here that daily life revolves: a space that naturally warms with sunlight in winter and transforms into a vibrant environment in summer, filled with sounds, conversations, and a sense of freedom. The greenhouse invites living in an almost outdoor dimension while remaining protected, offering a feeling of openness that even extends during rainfall.”

Living in a house with a greenhouse means experiencing a direct connection with the outside world while still having the possibility to retreat into a traditional, spacious, and articulated structure with numerous rooms in the rest of the house, Prado says.

“The greenhouse is mainly enjoyed during the day as a central and shared space,” he says. “It can accommodate up to 250 people inside.” The main corridor stretches nearly 100 feet and ends in a room conceived as a small astronomical observatory.

The approximately 11,840-square-foot property, which includes 13 bedrooms and 17 bathrooms, is surrounded by nearly 10 acres of lush grounds. It’s listed for sale at €6.8 million (US$8.13 million).

“At the time of purchase, the property was in a state of deep neglect,” Prado says. Most of the buildings had no roofs, for example.

“The portico, originally intended for prayer, had been converted into storage, while the old stables had been turned into housing for farmers,” he says. “The entire complex had lost its function and dignity, and there was even a carrot factory active in the large square.”

The restored portico can now accommodate up to 600 seated guests, according to Prado.

“A property like this does not belong to the traditional real estate market,” Prado says. “The sale is not a simple negotiation, but the meeting between the house and its next custodian.”

Homes that live like greenhouses are inherently unique, but they offer owners the shared experience of a deep connection to nature and an appreciation for the serenity it can bring.

Riyadh’s office market continues to demonstrate steady underlying momentum, with recent data pointing towards a more balanced phase of growth, according to Savills latest Office Market report for Q1 2026.

While broader economic conditions have moderated slightly, partly reflecting the effects of ongoing regional geopolitical tensions, including disruption to oil export flows through the Strait of Hormuz. Saudi Arabia’s non-oil sector continues to expand, supporting business activity and occupier demand across the capital. Real GDP growth is projected at 2.6% for 2026, with non-oil growth expected to reach 3.6%, reflecting ongoing progress in economic diversification.

Occupier demand remained consistent during the first quarter, with Grade A office occupancy levels holding firm at 98.5%, highlighting continued pressure on prime supply. Leasing activity was supported by a diverse range of sectors, led by BFSI, alongside engineering, manufacturing, TMT (Technology, Media and Telecommunications) and pharmaceutical occupiers.

Demand continues to be driven by smaller office requirements, with units below 1,000 sq m accounting for the majority of enquiries, reflecting a preference for flexible and efficient workspace solutions among occupiers.

At the same time, rental growth has begun to moderate, increasing by 1.0% quarter-on-quarter and 6% year-on-year. Prime rents reached SAR 2,896 per sq m in Zone A (central Olaya/KAFD corridor) and SAR 2,457 per sq m in Zone C (southern district), indicating a shift towards a more measured pace of growth following previous periods of stronger increases, supported in part by the implementation of Riyadh’s five-year rent stabilization policy and softer external conditions stemming from regional geopolitical developments.

Ramzi Darwish, Head of KSA at Savills Middle East, commented, “Riyadh’s office market is continuing to evolve, with occupier demand remaining steady despite a more measured pace of growth. While we are seeing some moderation in rental increases compared to previous periods, underlying activity levels remain consistent, particularly across Grade A assets. This reflects a market that is becoming more balanced, with occupiers placing greater emphasis on quality, location and long-term value.”

This trend is further supported by the implementation of Riyadh’s five-year rent stabilization policy, which has contributed to greater pricing consistency across both residential and commercial assets, enhancing cost visibility for occupiers and supporting longer-term planning.

Riyadh’s growing appeal as a regional business hub continues to underpin demand, supported by sustained inflows of multinational companies. As of early 2026, more than 700 global companies have established regional headquarters in the city, surpassing Vision 2030 targets ahead of schedule.

International interest remains strong, with 80% of leasing enquiries in Q1 originating from US-based companies, reinforcing Riyadh’s positioning as an increasingly attractive destination for global occupiers.

Looking ahead, the market is expected to continue evolving as new supply is delivered, with over 700,000 sq m of Grade A office space anticipated to come online by late 2026, including developments such as Diriyah Gate, Prime Business Resort and Prince Mohammed bin Salman Nonprofit City (Misk).

While additional supply is expected to provide greater choice for occupiers, demand for well-located, high-quality assets is likely to remain a key feature of the market.

Dubai International Financial Centre’s ambition to become the world’s first AI-native financial center is expected to further strengthen its appeal as one of the city’s most strategically important residential locations.

The announcement, which is expected to generate AED 12.9 billion in economic value and create around 25,000 jobs, reinforces DIFC’s position not only as a global business district, but as a long-term demand driver for nearby prime housing. betterhomes says this adds fresh weight to an area that already benefits from limited prime supply, strong professional demand and a level of convenience that continues to set it apart within Dubai’s rental market.

According to the betterhomes’ research team, Q1 2026 saw DIFC’s residential profile remain defined by premium rental positioning, low vacancy and sustained interest from high-income professionals seeking proximity to the city’s financial core.

While new residential stock is expected to place greater pressure on rents in higher-supply apartment corridors this year,  prime central locations such as DIFC are following a different pattern. Early 2026 indicators point to relatively stable rental performance, with some forecasts suggesting moderate growth across prime areas.

The wider DIFC area continues to benefit from walkability, Metro access, strong road connectivity and close proximity to Downtown, Sheikh Zayed Road and Jumeirah, reinforcing its appeal among tenants who value convenience, shorter commutes and immediate access to dining, retail and leisure.

Rupert Simmonds, Director of Leasing at betterhomes, said: “DIFC’s AI-native plan adds another layer of long-term relevance to an area that was already one of Dubai’s most established demand drivers. When a district is creating jobs, attracting global business and continuing to evolve its infrastructure, that has a direct impact on the strength and resilience of nearby residential demand.”

He added: “What continues to support this market is the combination of practicality and quality. DIFC offers proximity to business, excellent connectivity and a more seamless day-to-day lifestyle, which is why it continues to stand apart from higher-supply locations elsewhere in the city.”

Location: Mée-sur-Seine, France

Price: €2.7 million (US$3.1 million)

Dubai’s rental market indicators in the first quarter (Q1) of 2026 demonstrate sustained stability, supported by strong regulatory and economic fundamentals. The market continues to show steady activity within a dynamic environment that adapts efficiently and reinforces confidence.

This performance reflects the UAE leadership’s proactive vision and renewed directives to enhance the readiness and resilience of economic sectors, reinforcing sustainable growth, strengthening investor confidence, and underscoring Dubai’s ability to maintain balanced economic growth.

According to data from the Dubai Land Department, the total value of rental contracts during Q1 2026 reached AED32.2 billion, reflecting a sustained pace of activity, supported by clear legislation and an integrated regulatory environment that governs relationships across the market.

New rental contracts reached 118,385, alongside 135,607 renewal contracts, indicating sustained market activity and stable landlord–tenant relationships within a transparent and reliable framework. In another positive indicator, the number of cancelled contracts declined by 25%, reflecting greater rental-cycle stability, stronger market cohesion, and reduced volatility.

The number of real estate offices operating in the market reached 10,200, enhancing market efficiency, expanding the base of active stakeholders, and supporting the quality of services provided to investors and customers.

Furthermore, 3,599 real estate licenses were registered in the market, spanning a wide range of sector-related activities and services. Real estate sales and purchase brokerage licenses led with 1,564, followed by Real estate leasing brokerage with 928, transaction follow-up services with 376, and real estate development with 128 licenses.

Other licenses cover a range of activities, including administrative supervision services for owners’ associations, real estate consultancy, private property leasing and management services, mortgage brokerage, business centers, real estate valuation services, surveying, and organizing public real estate auctions. This diversity and breadth of licenses reflect the dynamism and integration of Dubai’s real estate market, alongside the advancement of its service ecosystem and its ability to efficiently and flexibly meet the needs of various stakeholders.

These indicators highlight that Dubai’s rental market is anchored within an integrated ecosystem that unifies development, investment, and regulation while promoting stability and enabling agile adaptation to evolving dynamics. Market performance reflects a balanced supply–demand equation, supported by sustained project activity, diversified offerings, and clear policies, ensuring long-term sustainability and consistent performance.

In light of this performance, Dubai’s real estate sector continues to reinforce its position as a key pillar of the emirate’s economic growth, supported by a forward-looking leadership vision, a flexible regulatory environment, and renewed investor confidence, ensuring market continuity and strengthening its readiness for future phases with confidence and stability.

CRC (Commercial Real Estate Consultants) has officially released its Q1 2026 Commercial Property Market Report, detailing a significant evolution in Dubai’s commercial landscape. The findings point toward a market entering a phase of “strategic maturation,” where a deliberate move from volume-driven to value-driven acquisitions has pushed capital values to historic highs, even as the market experiences a slight cooling in overall transaction frequency following the record-breaking close of 2025.

The report highlights that while total commercial units sold dipped by 3% to 3,619 transactions, the market remains fundamentally robust. Total sales value for the quarter reached AED 37.9 billion, representing an impressive 30% increase year-on-year compared to the same period in 2025.

Behnam Bargh, Managing Director of CRC, notes that this performance reflects a broader trajectory of economic stability within the UAE. He emphasizes that while there was a 16% softening in total sales value relative to the final quarter of 2025, the underlying market remains strong, supported by a projected 5.6% real GDP growth for 2026 and the recent AED 1 billion economic incentive package aimed at enhancing private sector liquidity.

The office sector stood out as the primary growth engine during the first quarter. While transaction volumes rose by a steady 2% to 1,565 units, the total sales value skyrocketed by 73% quarter-on-quarter to reach AED 8.2 billion. This surge in value is further evidenced by a major milestone in the secondary market, where prices broke the psychological barrier of AED 2,000 per sq ft for the first time, settling at an average of AED 2,023. Geographically, Al Sufouh led the market in activity, followed closely by established business hubs like Business Bay and JLT.

In the retail segment, assets underwent a dramatic repricing that saw sales values surge by 162% year-on-year. This shift reflects a growing appetite for premium, high-traffic spaces and community-centric retail models. Jumeirah Village Circle (JVC) emerged as the top performer for retail transactions, followed by Motor City. Eliza Esenbek, Head of Retail and F&B at CRC, suggests that the current boom in neighborhood retail highlights a transition toward convenience and well-being, where destination shopping is being supplemented by curated, daily-life experiences.

The report also identifies aggressive demand in the off-plan and industrial sectors. Off-plan transaction volumes rose by 26%, but the value of these deals outperformed volume growth with a staggering 158% increase, now accounting for 78% of all commercial transactions. Simultaneously, warehouse demand remains fierce, with leads growing by 73% year-on-year and 72% quarter-on-quarter, indicating sustained institutional interest in logistics and industrial assets.

On the leasing front, the market is seeing a notable shift in tenant behavior centered on cash-flow management. While the 4-cheque payment plan remains the industry standard, accounting for 55% of transactions, 1-cheque payments saw a significant 13% decline. This suggests that corporate tenants are increasingly prioritising operational liquidity over the upfront discounts typically associated with single-payment terms.

Looking ahead, the CRC report maintains a positive outlook for the remainder of 2026. Driven by the D33 economic framework and substantial foreign direct investment, Dubai continues to establish itself as a global benchmark for commercial resilience. As non-oil sectors like logistics and the digital economy continue their expansion, the requirement for physical footprints remains a mandatory driver for the market’s long-term growth.

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Whitewill, the international luxury real estate agency for developers and partners across the UK, USA, and UAE markets, has reported strong ultra-luxury residential property demand across Dubai and Abu Dhabi, reflecting investor confidence and continued appetite for high-quality assets in both emirates. This also points to a market that is becoming more selective, with capital continuing to concentrate around prime locations and credible developments.

Olga Pankina, COO of Whitewill Dubai, commented: “The deals we are seeing across Dubai and Abu Dhabi show that demand remains firmly present, but buyers are approaching the market with greater discipline and a clearer investment strategy. In Dubai, we continue to see strong interest in liquid secondary stock and rare waterfront assets, while in Abu Dhabi, demand is more concentrated in branded, concept-led developments with a long-term ownership profile. Across both markets, clients are prioritising legal security, trusted developers, and assets that can preserve value over time. Our role is to guide clients through that process with clear advice, full transaction support, and access to opportunities that match their goals.”

Dubai’s prime market stays active

In Dubai, demand is largely concentrated in the secondary market, with strong interest in studios and one- to two-bedroom apartments in Business Bay, Bluewaters Island, Downtown, Dubai Harbour, and Jumeirah waterfront communities such as Port de La Mer. Most deals fall within the AED 1 million to AED 3 million range, while prime and waterfront assets typically reach AED 4 million to AED 6 million, and ultra-luxury homes exceed AED 40 million. 

One of Whitewill’s standout recent deals in Dubai was the transfer of a duplex penthouse at Bluewaters Residence for AED 90 million. Spanning 875 sqm, the property includes a private terrace, private pool, and panoramic sea views, reflecting continued interest in rare trophy assets in prime waterfront locations. The agency also advised on the acquisition of an ultra-luxury villa at Signature Mansions on Palm Jumeirah for AED 41.9 million. It also shows that buyers remain willing to commit to exceptional homes that combine scale, privacy, and long-term value.

Abu Dhabi’s branded focus

In Abu Dhabi, the structure is more concentrated and largely driven by off-plan activity, with demand centred on Yas Island and particularly on branded projects. Activity there is more heavily weighted toward villas and larger units, alongside select two- and three-bedroom apartments, with most deals falling between AED 3 million and AED 7 million.

Whitewill completed multiple placements at Manchester City Yas Residences by Ohana in Abu Dhabi with a combined value exceeding AED 30 million, reflecting the more concentrated structure of the capital’s market, where activity is centred on the primary segment and focused on villas, larger units, and concept-driven developments on Yas Island. The project itself recorded over $1.6 billion in sales within 72 hours, making it one of the fastest-selling launches in the emirate’s history, while Whitewill secured over $8.7 million in activity within the first days of sales, including multiple off-plan villas. This level of interest highlights the continued appeal of projects that combine strong legal protections, clearly defined delivery structures, and internationally recognised branding.

Stable outlook for 2026

This momentum is driven by experienced, financially stable buyers with a more analytical and long-term approach to real estate investment. The most active segments include investors focused on capital preservation and stable returns, end-users and residents purchasing for lifestyle and relocation, and opportunistic buyers targeting discounted secondary assets in Dubai. Whitewill is also seeing strong interest from European, Indian, and Asian buyers, alongside UAE-based expat professionals in finance and healthcare purchasing for personal use or long-term investment. Compared with previous periods, buyers are paying closer attention to legal protection mechanisms, developer reliability, contract structure, and the long-term value of the asset.

In the near term, Whitewill expects market conditions across both emirates to remain stable, with pricing holding firms in the primary market and buyer activity continuing to centre on quality assets, established locations, and credible developers. The agency maintains a steady deal flow by supporting clients through every stage of the process with a focus on value protection and long-term returns.