The UAE’s real GDP growth is predicted by CBUAE to reach 6.2% in 2025.

26 June 2024

The UAE economy grew by 4.3% year over year in Q4-2023, surpassing the 2.5% increase observed in Q3-2023.

Abu Dhabi: The UAE’s real GDP is expected to grow by 3.9% in 2024 and 6.2% in 2025, according to the Central Bank of the United Arab Emirates (CBUAE), which also predicted that the nation’s robust foreign trade performance would continue in 2024 and 2025.

The country’s non-hydrocarbon GDP growth is predicted to remain strong at 5.4% in 2024 and 5.3% in 2025, according … Read more ›

For millionaires moving to the UAE, life surpasses expectations.

25 June 2024

“New residents have suggested that the UAE is surpassing the expectations of high-net-worth individuals who are relocating there.”

According to a recent poll by international investment migration advisory firm Henley & Partners, which ranked the UAE as the world’s top wealth magnet for a third consecutive year, a record 6,700 millionaires are anticipated to call the country home by the end of this year.

With 3,800 millionaires expected to enter the US by the end of 2024, the UAE is … Read more ›

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 ›