Dubai Weekly Property News Round Up – 12.02.23

Hello,

I hope you have had a lovely week. We have been inundated this week with interest in one of our hottest developments, which is due for completion in May this year.

Laya Heights is a stunning new residential apartment block in the popular community of Studio City. With a polished finish and an impressive range of hotel-style amenities, the low entry prices for this development are truly mind-blowing.

If you are interested in learning more about this incredible investment option, click here.

Now, let’s take a look at all the headlines that caught our attention this week. I always try to summarise the links to save you from having to click through.

Episode 56: Dubai Market Update & 2023 Forecast – The latest episode of the Pure Property Podcast is out now. You can listen to it on Apple Podcasts and all other major platforms.

Remember, you can also listen to this week’s newsletter on the podcast as well.

We would really appreciate it if you could subscribe and leave feedback for our Podcast on Apple.

Property Headlines This Week

  • DLD Ready to Unveil Plan for 2026 at International Property Show – The International Property Show is a global real estate platform that runs for 3 days and features a range of workshops, exhibitions, talks and activities all geared toward helping local and international buyers enter the property market. The show, which commences on the 12th of February, will host over 100 real estate exhibitors from 40 countries around the world. At this event, the Dubai Land Department is expected to announce its updated vision, mission, and plan for 2026, along with launching some exciting new initiatives.

 

  • Latest Increase Sees Property Rents in Dubai Reach Historic Highs – Tenants are not having an easy time in Dubai right now as data shows that rents are continuing to rise at break-neck speeds in the face of heavily increasing demand. Dubai rents increased by almost 27% in 2022, with villa rental prices leading the way at a staggering 37% growth. Demand in popular areas such as MBR City, Dubai Hills Estate, Jumeirah and Arabian Ranches has driven this exponential increase and put increased pressure on renters across Dubai.

 

  • Off-Plan Property Sales Hit $3.3 Billion in January 2023 – Sustainable property developer ZāZEN Properties has released a statement revealing that Dubai’s off-plan property sales hit AED12.1bn ($3.3bn) in January this year, demonstrating the city’s continued growth in the off-plan property market. According to the developer, over 9,800 sales transactions were registered in January, which is a huge 128.5% increase on figures from January last year. Of these transactions, 5,000 were for off-plan properties, which is a 90% year-on-year increase from the start of 2022.

 

That is all we have for you this week. If you have any comments or questions on this week’s news summary then please feel free to send us an email at [email protected]  – if not, see you next week.

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