Ministry of Interior Reminds Villa Owners to Install Mandatory Fire Alarms In Four Months

31 August 2023

Homeowners are mandated to install smoke and fire detectors in their villas, and subscribe to the UAE e-alert system by 1st January 2024.

Previously announced to be implemented on 1st September, the Ministry of Interior clarified that the original cabinet order from September 2020 only commenced the following January when it was published in the official gazette. This means that the three-year implementation period started from the beginning of 2021. Villa owners now have four months left to make the required … Read more ›

UAE Property Market Will Continue to Grow, ADIB Executive Says

31 July 2023

The UAE property market is expected to continue thriving as the country pushes through with its bolstering economy.

In turn, Abu Dhabi Islamic Bank’s home-financing business is also seeing growth, Mohamed Abdel Bary, ADIB’s Chief Financial Officer said. He also expressed that just by looking at the demand, supply and activity in the market, there will still be a lot of traction coming.

According to the latest data from the Department of Municipalities and Transport, in Q1 2023, Abu Dhabi recorded 5,472 … Read more ›

Weakening US Dollar Favourable for the UAE Property Market

21 July 2023

The recent weakening of the US dollar is coming out favourably for the UAE’s property market as residential and commercial properties in the UAE begin to seem less expensive to foreign investors whose currencies have risen against the US dollar.

It has been depreciating since mid-to-late last year and it is expected to continue to spiral downward as inflation in the US continues.

Headline annual consumer price inflation dropped to 3% in June, down from 4% in May and has continued to … Read more ›

Abu Dhabi Real Estate Foreign Direct Investments Spike Up 363%

13 July 2023

The Department of Municipalities and Transport (DMT) announces the record-breaking Foreign Direct Investment (FDI) of AED 834.6 million from the first half of 2023. It is equivalent to a 363% high from the same period in 2022.

Data released by DMT shows the top five residential areas in Abu Dhabi with the highest shares of foreign direct investment by individuals. Saadiyat Island ranks first with 34%, followed closely by Yas Island with 28%. Third comes Al Jurf with 12% and Al … Read more ›

High Net-Worth Individuals Anticipated to Drive Surge in Demand for UAE Golden Visa

12 July 2023

More and more high net worth individuals (HNWIs) in the UAE are not only opting to get the highly coveted Golden Visas offered by the country, but are also increasingly interested in obtaining a second and third passport as the economy continues to improve.

According to immigration consultancies, the demand for the UAE’s ten-year residence visa has, in certain instances, exceeded the demand for second passports from foreign countries. This trend has emerged as UAE real estate developers are increasingly introducing … Read more ›

Abu Dhabi Announces New Masterplan Development in Hudayriyat Island

13 June 2023

This highly anticipated mega project in Hudayriyat Island is headed by developer Modon Properties and will cover over 51 million square metres of land, equivalent to more than half of Abu Dhabi Island. President Sheikh Mohamed and Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed stand behind this initiative, pushing it forward.

Abu Dhabi Media Office said in a press release, “Hudayriyat Island is a pioneering project that is the first of its kind for the city in terms of size … Read more ›