Dubai's property market is expected to achieve a 7% growth | Kanebridge News
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Dubai’s property market is expected to achieve a 7% growth

Dubai’s property market is set to experience a growth spurt, with anticipated price increases of 5% to 7% this year, building on the back of a record $117 billion in real estate transactions in 2023.

Tue, Mar 12, 2024 2:51pmGrey Clock 2 min

Experts at D&B Properties predict a continuation of this upward trend, driven by strong buyer demand. The sector’s growth is underpinned by a combination of government initiatives, economic resilience, and significant investor interest, which are all expected to contribute to further market expansion.

Cautious Optimism for the Future

Despite the positive outlook, there’s a note of caution regarding potential shifts in the latter part of 2024, especially within the luxury real estate segment. Soliman Hossameldin, the Director of Digital Marketing at D&B Properties, emphasizes Dubai’s attractive qualities for investors, including its strategic location, world-class infrastructure, and dynamic business environment. These factors, combined with the city’s status as a global hub, ensure a continuous demand for real estate investments, offering lucrative opportunities for capital appreciation and rental yields.

Resilience and Surge in Transactions

The resilience of the UAE’s property market is notably demonstrated by its performance, especially in Dubai and Abu Dhabi. Enhanced by governmental policies and sustained economic growth, the market has seen a surge in transactions, particularly in Dubai, which recorded a significant increase in new property deals. Forecasts predict a price rise of 5% to 7% in Dubai and 3% to 9% in Abu Dhabi.

Record-Breaking Year for Dubai Real Estate

The previous year marked a milestone for Dubai’s real estate sector, with 116,116 transactions totaling AED429.6 billion ($117 billion). This represented a remarkable year-over-year increase in both the number of transactions and their value, underscoring the market’s attractiveness and resilience to global investors. With investors hailing from diverse regions including India, China, the UK, Europe, CIS countries, Latin America, Mexico, and Canada, the market’s global appeal is evident. The anticipated post-pandemic recovery in China is expected to further enhance demand and investor confidence.

The Evolving UAE Property Market

As the property market in the UAE continues to evolve, stakeholders are advised to remain cautious and adaptable to changing market dynamics. Collaboration among developers, investors, and policymakers is essential to fostering sustainable growth and ensuring long-term market stability.



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Tonino Lamborghini Unveils New Luxury Residences in Ras Al Khaimah

Tonino Lamborghini recently revealed a new luxury project comprising 241 units in Ras Al Khaimah, developed in partnership with Arista Developments.

Tue, May 21, 2024 2 min

Named the Tonino Lamborghini Residences, this project promises a fresh take on luxury living with its iconic design, cutting-edge amenities, and stunning sea views.

Set on Al Marjan Island, the development is adding 241 high-end units to the area’s real estate offerings, all reflecting the sleek, Italian elegance associated with the Lamborghini name.

These residences are designed to impress, featuring modern architecture that harmonizes with the scenic surroundings and interiors marked by meticulous craftsmanship and top-quality finishes.

Living in this one of the project’s units means access to a range of upscale amenities: a state-of-the-art fitness center, multiple swimming pools, beautifully landscaped gardens, and dedicated areas for children’s play. The complex also offers a business center with a conference room, an outdoor BBQ area, and a chic café, catering to all aspects of high-end living.

Arch. Abdulla Al Abdouli, Chief Executive Officer, Marjan, expressed excitement about the introduction of Tonino Lamborghini Residences to Al Marjan Island, noting the project’s blend of sustainable construction and smart home technologies. This integration, he mentioned, guarantees a luxurious lifestyle equipped with the finest modern amenities, reflecting the exquisite Italian craftsmanship. He is confident that this new venture with Arista Developments will significantly boost the allure of Al Marjan Island as a top lifestyle destination in Ras Al Khaimah for both investors and residents.

Tonino Lamborghini, President of the Tonino Lamborghini brand, said: “We are delighted to be among the pioneers in this remarkable new destination in one of the seven emirates of the UAE. Our heartfelt gratitude and recognition go to H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, for his visionary leadership and foresight, and for embracing innovative strategies to revitalize a region full of potential.”

Mr. Arthur Chu, Chairman of Arista Developments, highlighted the project’s ambition to capture the essence of the Tonino Lamborghini brand in every aspect of its design. He described the development of a prestigious residential tower on Al Marjan Island that will reflect the lifestyle and beauty synonymous with Lamborghini. From the sharp, well-defined lines of the exterior to the elegantly designed interior common areas, every detail is crafted to showcase the brand’s distinctive elegance and sophistication. Chu emphasized that the interior designs, personally crafted by Tonino Lamborghini, aim to fully immerse residents in the Italian brand’s luxurious identity.

The variety in housing options is vast, ranging from one and two-bedroom apartments to duplexes, sea view villas, signature villas, and exclusive penthouses.

The collaboration between Tonino Lamborghini and Arista Developments blends iconic Italian style with expert real estate craftsmanship. This venture marks Lamborghini’s first introduction to Ras Al Khaimah and represents a commitment to setting new standards in luxury and modern living.

 

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