Dubai Weekly Real Estate News 21/01/23
Dubai real estate will be a major contributor to the goals of the Dubai Economic Agenda D33 and attract high net worth individuals and millionaires for investment in one of the growing economic sectors of the emirate, experts say.
The property sector, which recorded 122,658 transactions worth Dh528 billion in 2022, is expected to accelerate progress on 350 projects currently being developed in the emirate.
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
Women invest billions in Dubai real estate sector
Dubai’s real estate sector saw a marked rise in the participation of women in 2022 as a total of 26,698 female investors registered 33,419 real estate investments worth over Dh58.8 billion in the emirate, growing 50.7 per cent in volume and 53 per cent in value from 2021.
Dubai continues to benefit from crisis and the Russia-Ukraine war, Damac chair says
Dubai’s property sector is going from strength to strength, as growth and reform in the oil-rich Arab Gulf states attract more foreign residents, companies and investors.
Dubai industrial rents soar as demand rises: Report
Industrial rents in Dubai have risen sharply over the last 12-months as demand continues to outstrip supply, according to a report by real estate consultancy Knight Frank.
Dubai rated among top 3 cities in the world for expats
In the ranking of cities, the second position went to Dubai. Most expatriates indicated that it is easy to deal with local authorities (66% vs. 40% globally) and that they are happy with the government services made available online (88% vs. 61% globally) by the city.
DMCC and Ellington Properties partner to launch a high-rise residential development across JLT
Ellington Properties and Dubai Multi Commodities Centre (DMCC), the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise, have partnered to develop Upper House, a new residential development located in Dubai’s premier mixed-used community, Jumeirah Lakes Towers (JLT).
