Property News Last Week
Dubai property sales spike on strong demand,visa policie
First-half records nearly 43,000 transactions exceeding Dh114.5 billion. Dubai’s real estate sector is turning more vibrant and transparent as investor-friendly
policies tend to attract local and global property buyers and proof of the same was the recently concluded June 2022 sales which is considered the best since 2009
Comparisons between UAE and US property markets are exaggerated
What we know historically is that UAE real estate markets have a high correlation to that of US real estate prices. Even though the reasons are puzzling, statistically, the relationship has been established ever since the advent of freehold in 2002. Therefore, to get a clue as to where prices are headed next, it would be prudent to look at the dynamics of what is transpiring in the ‘home of the brave’.
Dubai Land Department, Japan review real estate cooperation
The Dubai Land Department (DLD) has briefed the Japanese Consul-General in Dubai about the prominent international practices and standards used in Dubai’s real estate sector. The discussions, which took place during a meeting between Sultan Butti bin Mejren, Director-General of Dubai Land Department (DLD), and Noboru Sekiguchi, Consul-General of Japan in Dubai, also covered DLD’s various initiatives in the real estate sector, especially in the real estate registration field.
Dubai Is the Newest Hedge Fund Hotspot
After attracting crypto firms, property investors and Russian billionaires, Dubai is drawing a new crowd: hedge fund managers. Izzy Englander’s Millennium Management has grown its staff in the Dubai International Financial Centre to about 30 since securing a license in 2020. Michael Gelband’s ExodusPoint Capital Management, one of the largest multi-strategy hedge funds in the world, registered in the DIFC in June, according to a filing.
Dubai’s real estate sector is the most ‘transparent’ in MENA
The real estate markets of Dubai and Abu Dhabi have been recognized as the top global improvers in 2022, according to JLL’s latest Global Real Estate Transparency Index (GRETI). Dubai also entered the ‘Transparent’ tier for the first time underlining its position as the most transparent property market in the Middle East and North Africa region. The emirate gained three ranks in the index to 31st position globally and is the only property market in MENA to feature in the ‘Transparent’ tier.