Dubai Weekly Real Estate News 08/01/23
Welcome back to the Dubai weekly real estate news update. The below articles review last years activity and look forward to 2023.
Villa and apartment prices in Dubai continued to show signs of stabilization at the end of 2022 and are still poised to register a citywide increase of around 7% to 10% this year due to strong demand for prime properties, according to a report from ValuStrat.
Now, let’s take a look at some of the property news that caught our attention last week. I’ve included the summary of each article below.
Property News This Week
Azizi sales increase 37% in second half of 2022 with 11,000 scheduled handovers this year
Azizi Developments, a leading private developer in the UAE, ended 2022 having sold a total of over 6,000 units, amounting to Dh5.6 billion, mrking a surge in sales of over 37 per cent in the second half of 2022.
Dubai real estate will be a major beneficiary of D33
Rizwan Sajan, founder and chairman of Danube Group, said the new Dubai Economic Agenda ‘D33’ announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on the occasion of his 17th Accession Day anniversary augurs extremely well for Dubai’s economic growth over the next 10 years.
Rents in Dubai’s non-freehold areas shoot up 5-10% as demand spills over
Rents in Dubai’s non-freehold residential districts such as Bur Dubai and Karama have started to rise sharply as demand spills over from the city’s popular freehold locations. The demand is such that even older buildings in these areas have seen landlords raise their rental demands – and getting tenants on those terms.
Al Habtoor Group unveils three huge residential projects in Dubai
Al Habtoor Group (AHG) unveiled its plans to carry out three huge residential projects, in various areas in Dubai, in 2023 with a total cost of AED 9.5 billion.
These locations in Dubai generate 10% rental yields for property investors
In most established areas across Dubai, real estate returns have exceeded 10 per cent, offering investors attractive opportunities to grow their wealth. By carefully considering the potential in each area, we identified those with the greatest RoI (Return on Investment).
