Dubai Weekly Real Estate News – 12/08/23

What’s happening in the Dubai Property Market

Property News This Week

Dubai real estate market set to flourish as tourism surges past pre-pandemic levels

Dubai’s real estate market is poised for continued growth as the emirate celebrates a resurgent first half of 2023, with a substantial influx of 8.55 million international overnight visitors.

Emaar Development reports a 25% increase in property sales, reaching US$ 5.2 bn for the first half of 2023

Emaar Development PJSC, the UAE’s premier property development company specialising in build-to-sell property development business that is majority-owned by Emaar Properties PJSC, continued the growth in property sales in the second quarter (April to June) of 2023 as well.

Real estate in Dubai much more affordable than Mumbai

Properties in Dubai are far more affordable than housing units in Mumbai, says Rizwan Sajan, founder and chairman of Dubai-based Danube Group that has so far built close to 15,000 apartments worth about 12-14 billion dirhams.

Dubai house rents have jumped more than 20% so far in 2023

The Dubai housing market continued to grow over the summer, with average residential rents rising by 22% in the year through July.

Dubai’s Shuaa seeks to double assets to $10bn in next five years

Shuaa Capital, an investment banking and asset management company, aims to double its assets under management to $10 billion in the next five years and is evaluating several investment deals across the broader GCC, its chief executive has said.

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