AB Espresso: Dubai branded residences sales surge 43%

Hello reader,

In today’s newsletter:

Discover the latest stories from Arabian Business, in case you missed them on Monday:

Dubai recorded over 13,000 branded residence unit sales in 2024, reaching AED60bn in transaction value, according to Betterhomes. Sales increased 43 per cent year-on-year and now represent 8.5 per cent of Dubai’s total real estate transaction value, with buyers paying premiums of 40–60 per cent per square foot compared to non-branded properties.

In addition, Dubai South Properties has launched Hayat, a master-planned community spanning 10 million sq ft in the Golf District near Al Maktoum International Airport. Phase one is expected to complete in Q2 2028.

Moreover, Dubai Municipality has awarded a AED100m contract for the first phase of the Ras Al Khor Wildlife Sanctuary Development Project. The full AED650m project aims to develop the sanctuary into an urban eco-tourism model in line with Dubai’s 2040 Urban Master Plan.

In other major developments, Dubai’s RTA and Joby Aviation have completed the region’s first aerial taxi test flight. The electric vertical take-off and landing (eVTOL) aircraft was tested in desert conditions as part of operations ahead of future commercial urban air mobility services.

Meanwhile, Abu Dhabi’s population grew by 7.5 per cent in 2024 to 4,135,985, according to SCAD. The emirate has grown 51 per cent since 2014, alongside a GDP increase of 3.8 per cent in 2024 to AED1.2tn, with non-oil sectors making up 54.7 per cent of total output.

THE LONGER READ:

From Japan to Dubai and Riyadh, the world’s most coveted green tea powder faces unprecedented supply constraints as demand begins to outweigh production capacity

Was this newsletter forwarded to you? Subscribe now.

For editorial queries, please contact:

abnews@itp.com

For advertising enquiries, please contact:
absales@itp.com

© 2024 ITP Digital Media Inc. All rights reserved.

Terms Policy

Email Information

You have received this email message from ITP Media Group, the leading media company in the Middle East. Your email address - newsletter@newslettercollector.com - has been recorded because you have subscribed to our newsletter through one of our market-leading websites, to one of our market leading print publications and newsletters or are registered with one of our websites. For more information, visit www.itp.com.

Remove your email address from this mailing list ONLY (Please note, this will not affect any other newsletter subscriptions)

Removal requests may take up to 48 hours to process; you may receive additional mailings during that time. A confirmation email will be sent when your request has been successfully processed.

Is this email in your junk/bulk folder?
To ensure that you receive all future newsletters and emails from us, add newsletters@arabianbusiness.com to your address book.

ITP Media Group, PO Box 500024, UAE