Dubai Weekly Property News Round Up – 05.02.23

Hello,

I hope you have had a productive week. We have been busy working with investors for the new products that have just come to our Dubai portfolio, including developments that come with exceptional post-completion payment plans and others that are due for imminent completion – ideal for those looking for a fast income-generating asset.

If you are interested to learn more about our new investment options and their unique incentives, reply to this article today.

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 55: How to Invest Right Now – 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.

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Property Headlines This Week

  • Dubai Home Rent Can Now Payable Automatically Through Bank Accounts – The Dubai Land Department has recently announced that Dubai residents will now be able to pay their home rent through direct debit. Until now, payment by cheque has been the most common way for renters to pay, and it is anticipated that the change will benefit both landlords and tenants. The state-of-the-art system will allow tenants to facilitate recurrent payments from their bank accounts and give them greater control over the process.

 

  • Dubai Sees Daily Property Deals Hit AED 2.1bn High This Week – On the last day of January, real estate deals in Dubai reached a record high of AED 2.1 billion. Among the deals recorded were 471 sales transactions totalling AED 1.87 billion. The DLD also reported 70 mortgage deals worth AED 122.36 million collectively and 14 gift deals valued at AED 130.13 million. 47 villas and 23 land plots comprised the mortgage arrangements recorded, and sales were once again dominated by villas and apartments which together formed a value of AED 1.56 billion.

 

  • Branded Residents on the Rise in Dubai to Meet International Demand – The second half of 2022 saw a significant jump in the number of branded residential projects to enter the Dubai market, with even more in planned to be delivered in the next few years. Brands such as Lamborghini, Armani and Bulgari are all examples of this type of high-end residence designer. This increase has been driven by strong International demand from high-net-worth buyers. Currently, 42 branded residences are under construction and buyers are encouraged to act quickly to secure their purchases.

 

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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