To keep up with growing tenant demand, Abu Dhabi needs more Grade A office space

21 June 2024

Approximately 95% of premium offices, including the International Tower and Abu Dhabi Global Market, are fully occupied.

According to a recent report by real estate consulting firm Savills, Abu Dhabi has seen a surge in demand for office space, necessitating the construction of additional Grade A properties.

The UAE’s capital city continues to attract investors and foreign professionals due to the expanding private sector, increased business confidence, and foreign direct investment, which has increased demand for commercial office space, the survey found.

The … Read more ›

The world’s super-rich will spend $4.4 billion on real estate in Dubai.

31 May 2024

High-net-worth individuals (HNWIs) from around the world are predicted to spend $4.4 billion on real estate in Dubai this year, up 76% from the previous year, as the emirate’s demand for opulent residences from the world’s ultra-rich remains robust despite price increases.

According to a new report by the global property consultancy Knight Frank, HNWIs residing in the GCC are expected to spend $3.1 million on a house in Dubai, while the worldwide ultra-rich would spend an average of $36.5 million … Read more ›

Saadiyat Island Cultural District moves nearer to completion

23 May 2024

Guggenheim Abu Dhabi and Zayed National Museum, two of the most eagerly awaited museums in the United Arab Emirates, are expected to be completed by the following year and open for business.

The Saadiyat Cultural District’s “key assets” are almost all built, according to a statement from the Department of Culture and Tourism – Abu Dhabi. In addition to the two establishments, teamLab Phenomena Abu Dhabi and the Natural History Museum Abu Dhabi are almost finished.

The event venue Manarat Al Saadiyat, … Read more ›

How Al Maktoum Airport is Shaping Real Estate in Abu Dhabi and Sharjah

21 May 2024

Communities and infrastructure that are already in place in the vicinity of Dubai South might also see improvements; better facilities and transit systems should raise real estate costs.

“Infrastructure improvements should drive demand for residential and commercial real estate in Dubai overall, resulting in a significant increase in property values in neighborhoods near the new airport terminals,” states Fibha Ahmed, Vice President of Real Estate Sales at Bayut & Dubizzle. Residential apartment sales in the area have increased by 30% in … Read more ›

Aldar’s first-quarter profit increases by 81% due to increased real estate sales

30 April 2024

“Development sales reached $1.7 billion, driving up the company’s net income to $353 million.”

The largest listed developer in Abu Dhabi, Aldar Properties, announced an increase in first-quarter net profit of more than 81% year over year due to increased sales, indicating that the UAE’s property market is still strong despite the ongoing economic growth.

The business stated in a statement on Monday to the Abu Dhabi Securities Exchange, where its shares are listed, that net profit attributable to the company’s owners … Read more ›

29 April 2024

“The Abu Dhabi Department of Transportation will test using Regent seagliders to link the emirates and islands.”

 

On Thursday, Regent, a US maritime transport business, and the Abu Dhabi Investment Office signed an agreement to build seagliders that fly at high speeds over water in the UAE.

Boston startup Regent has also struck an agreement with Abu Dhabi’s Department of Transport to incorporate its electric-powered seaglider into the UAE’s current transportation network, with a focus on high-impact routes such offshore services to … Read more ›