News / Middle East

Higher Interest Rates to Slow Down Dubai’s Real Estate Market in 2023

Experts speculate that the market is expected to post a steady growth of up to 5% in 2023, down from 11% in 2022.

Aldar Properties, Dubai Holding to Launch 38.2 Mn Sqm Projects

The two companies signed a binding joint venture agreement to develop new communities in three locations across the suburban heart of Dubai.

Dubai Allows Rent Payments by Debit Cards

According to a circular by the DLD, Dubai’s property rental platform, Ejari, is now integrated with the ‘noqodi’ direct debit system (UAEDDS), allowing tenants to have rent payments automatically debited from their accounts. 

US’ McDermott Collaborates on Greece-Africa Power Interconnection

The project is known as Greece-Africa Power (GAP) Interconnector.

Saudi Arabia to Start State Property Renting System Early February

The new system aims to regulate the state’s leasing of real estate through government agencies, based on their needs, as well as rationalize the financial costs of renting, in addition to developing the exploitation of leased real estate by government agencies.

Wall Street Group Inks MoU to Build First Branch in Saudi Arabia

Saeed notes that Wall Street aims to achieve contractual sales worth SAR 1 bn during the first year of the opening of the branch, based on the size of the huge projects in Saudi Arabia.

UAE’s Real Estate Market to Maintain Stability in 2023

In 2023, almost 100,000 sqm of office floor space is expected to be delivered in Dubai and over 35,000 sqm are set to be delivered in Abu Dhabi.

Buyers of London’s Luxury Properties from Middle Easterners Hit 4-Year High

According to data compiled by MSCI, foreign dealmakers account for 57% of property investment in London during 2023, compared to 65% in 2015.

Vodafone Group Sells English HQs to Aljazira Capital’s Unit

Vodafone’s buildings are sold to IQON Capital on behalf of Aljazira Capital.

Dubai’s Real Estate Deals Hit AED 528 Bn in 2022

“Dubai’s real estate market has long attracted diverse international buyers. This trend has become more prominent in recent years as more people started seeing Dubai as a safe haven, offering security, lifestyle, tax efficiency and a business-friendly environment amidst geopolitical and global economic uncertainty in the rest of the world,” Betterhomes adds.  

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