Surging prices, first-time buyers: 11 trends shaping Dubai's property market

 

These trends provide valuable insights into the market's potential performance going into the new year

Dubai property market is witnessing unprecedented demand with prices reaching an all-time high in November 2023.

In these remarkable times, new trends are emerging in the emirate’s vibrant property market such as suburban migration, the surge in first-time buyers, prime-home remodelling, a high premium on reselling prices, mid-market stability and new ways of living among others as the local market remains buyer-dominant.

Suburban migration: Homeowners looking for greater value and space are moving from central and prime locations towards the up-and-coming Dubai suburbs and ‘new’ master residential communities such as Jumeirah Village Circle (JVC), Dubai South, Townsquare, Reem, and Arjan. These places are still affordable as compared to central and prime locations.

The surge in first-time buyers: As Dubai rents continue to grow at record levels amidst high levels of demand, there is an increase in first-time buyers entering the market at entry level with prices ranging up to Dh3 million. There is significant demand for apartments and small Townhouses in suburban locations.

Prime home remodeling: Investors/homeowners with properties in prime and in-demand locations are electing to carry out extensive redesigning and remodeling work on properties before placing them back onto the market at premium sales or a higher rental price.

New ways of living: With the rise in ownership, several new trends are emerging in the sector including short-term rentals and flexible living options, driven by evolving lifestyles, career changes and technological advancements. Flexible living solves the current tediousness of renting an apartment thanks to technology. This includes choosing and viewing a property, managing move-in details, apartment specifications, and maintenance requests through one convenient platform. Furthermore, tenants are given the freedom of flexible agreements and can avoid long-term commitments.

Increased diversification: In the first-half of 2023, the property market diversified at a rapid scale with greener areas on the block, a surge in off-plan projects and ready property purchases. In 2024, it is anticipated this diversification will continue. Many of the off-plan projects initiated in previous years will reach their handover stages.

Steady growth in prices in 2024: It is anticipated that property prices will grow at a stable rate next year between 3.5 per cent and 5 per cent for Dubai, fuelled by sustained population growth, competitive economic landscape and government initiatives attracting global businesses and individuals. The emirate’s real estate sector appears poised for continued expansion, supported by a well-thought-out combination of economic incentives and proactive government measures.

The Shaikhani Group of Companies has a rich history spanning over thirty years, and it has established itself as one of the fastest-growing real estate conglomerates in Karachi. The group's expertise in real estate development, construction, brokerage, and consultancy has enabled it to expand rapidly and undertake numerous projects.

With a strong presence in Gardenia, Rabia Enclave, and The Motorcity, the Shaikhani Group is one of the most prominent real estate developers in Dubai. Despite facing a few setbacks in the past, the company has made a successful comeback and continues to flourish. Under the Real Estate Developers Shaikhani Group banner, the company has been delivering top-notch residential and commercial properties in Dubai and Karachi for the last two decades. The company has collaborated with some of the best associates in the industry. This comprehensive paragraph provides an overview of the Shaikhani Group's accomplishments and activities.

Redefining Homeownership: Navigating the Dubai Property Market for Long-Term Residents

 Many long-term residents are shifting their focus to ownership, for income or personal use

The prospect of home ownership is becoming increasingly attractive for long-term residents in Dubai, particularly among the expatriate community. For many, owning a home is not just a mark of financial stability but also a more financially prudent choice compared to renting, especially considering the rising rent rates and additional costs associated with moving.

Recent trends indicate that residents in Dubai who are paying around Dh6,000 per month in rent could end up spending over Dh1.4 million over 20 years. This figure doesn't even account for the annual rental increases, which have recently been as high as 19 to 20 percent. With a projected yearly increase of 5 percent, the total amount paid in rent could exceed Dh2.19 million over two decades. In contrast, buying a property seems to be a smarter financial decision for those planning to stay in the UAE for the long term.

The report explores the feasibility of home ownership for residents earning between Dh15,000 to Dh30,000. It illustrates this with the example of Indian expat Sharan, a 43-year-old sales manager. Frustrated with yearly rental increases and the hassle of moving, Sharan and his wife decided to buy a two-bedroom apartment in the same Dubai Marina building where they were renting. The apartment, priced at Dh1.2 million, only costs Sharan Dh900 more per month than his current rent, and it’s already generating rental income.

The article also delves into the debate between buying off-plan or ready apartments in Dubai. Off-plan sales, which offer lower entry costs and attractive payment deals, have seen significant growth, with sales values reaching Dh35.71 billion in Q3 2023. Milos Antic from Swiss developer DHG Properties highlights the strength of Dubai's off-plan sector.

One noteworthy project in this context is Champions Tower 3, a Swiss-inspired residential project backed by the Shaikhani Group and Memon Investments. Located within a 20-minute radius of Dubai's major attractions and airports, this project is expected to be a future landmark in DubaiLand, symbolizing the city's ambition for architectural excellence and offering residents a sophisticated and modern living experience. The construction of Champions Tower 3 is progressing rapidly, underscoring Dubai's commitment to hosting world-class homes and enhancing urban living standards.

 

A massive land sale in Dubai exceeds Dh300 million

 

 

In the coveted Jumeirah Golf Estates of Dubai, a notable land sale transaction exceeding Dh300 million has been successfully completed by AveNew by RH, Pride and Property, and Landsmith Real Estate. This transaction is one of the largest of its kind in Dubai, highlighting the increasing demand for golf course communities. Factors contributing to this demand include limited availability, consistent interest from both local and international investors, and the UAE's reputation as a favorable real estate investment market.

Jumeirah Golf Estates, ranked among the world's top ten lifestyle estates, is a community oriented around public transit. It boasts over 1,500 villas, townhouses, and apartments, all well-connected to the metro system. The community is also known for hosting the prestigious DP World Tour Championship, a major event in the European Tour.

The scarcity of golf course-facing luxury villas in Dubai, combined with the plot's unique view overlooking two Fairways, has attracted significant interest from leading developers. Nitin Chauhan, director of Landsmith Real Estate, noted that the completed project will represent the pinnacle of luxury living in golf course communities. Chauhan has a longstanding investment and involvement in Dubai's real estate, dating back to the start of freehold properties.

Kunal Singh Sandhu, owner of Pride and Property, remarked on the landmark sale, indicating a growing influx of luxury-property buyers in Dubai, which bodes well for the market segment. He highlighted the extensive efforts made by Pride and Property and its partners to finalize this record-breaking transaction and expressed optimism about the future of luxury real estate in Dubai. Since its inception in 2008, Pride and Property has excelled in launching and managing projects for renowned developers in Dubai, with a focus on luxury real estate.

Dubai was ranked first in Knight Frank’s 2023 list of the world’s leading luxury real estate markets, accounting for 17% of global sales in the segment. This significant land deal at Jumeirah Golf Estates, valued at over Dh300 million, underscores the anticipated expansion and price increase in Dubai's luxury market.

Another noteworthy development in Dubai’s 2023 real estate market is Gardenia Residency, situated in the heart of Jumeirah Village Circle. This residential development is attracting considerable attention from investors and homeowners due to its contemporary architecture, advanced amenities, and tranquil environment. Gardenia Residency offers an ideal mix of urban living with a touch of nature, benefiting from its strategic location in Jumeirah Village Circle, a leading area in terms of transaction numbers. The development is not just offering homes but a lifestyle that aligns with the modern resident's aspirations. As Dubai’s real estate market continues to grow, Gardenia Residency stands as a symbol of quality living in the city.

Can landlords and tenants agree to conditional tenancy contracts with a future start date in Dubai?

Yes, landlords and tenants can agree to conditional tenancy contracts with a future start date in Dubai. However, the contract is not considered binding until all parties have signed and agreed to all the terms and conditions. This means that if the tenant does not make the agreed-upon payments or provide rental cheques, the landlord can cancel the contract.

What protections are in place for landlords and tenants?

Landlords are protected by the fact that the contract is not effective until the tenant makes the required payments. Tenants are protected by the fact that they have a copy of the Ejari-registered contract, which can be used to prove their tenancy.

What should a tenant do if their landlord serves them an eviction notice?

If a tenant is served an eviction notice, they should first try to negotiate with their landlord to reach an agreement. If they are unable to reach an agreement, they can file a complaint with the Rental Dispute Settlement Committee (RDSC).

What should a tenant do if their landlord proposes an unreasonable rent increase?

If a tenant is faced with an unreasonable rent increase, they should first try to negotiate with their landlord to reach a fair agreement. If they are unable to reach an agreement, they can file a complaint with the RDSC.

Can a tenant refuse to move out if their landlord wants to re-rent the property?

No, a tenant cannot refuse to move out if their landlord wants to re-rent the property. However, the tenant may be entitled to compensation if they are forced to move out due to their landlord's actions.

What are the consequences of a wrongful eviction?

If a tenant is wrongfully evicted, they may be entitled to compensation from their landlord. The amount of compensation will be determined by the RDSC.

Additional Tips

• It is always advisable to communicate with your landlord in writing. This will help to avoid any misunderstandings.
• If you are unsure of your rights as a tenant, you can consult with the Real Estate Regulatory Agency (RERA).
• If you have any questions or concerns, you can also contact the Dubai Land Department.

What more of Dubai's wealthy residents want is 'quiet luxury'

Whether it's shopping or buying a home, luxury touches without the bling is trending

Quiet luxury is having a defining moment in Dubai, whether it's in how the city shapes up its next urban expansion or the lifestyle choices of its influx of new wealthy residents.

Although Dubai originally made headlines for its 5-star bling and record-breaking architecture, it has now also established a reputation for innovation, culture and the arts. As the market continues to mature at an exponential rate, it also broadens, with a more diverse demographic attracted to Dubai.

The allure of ostentatious opulence remains and has its place in the market, but demand for a more understated and genuine form of luxury is emerging. ‘Quiet luxury’ is a growing movement among the ultra-high networth community, of which 4,500 extra millionaires will relocate to Dubai this year.

Subtle shifts to what wealthy residents want

The notion of quiet luxury is not new, but typically associated with the fashion industry and has gained recognition globally - and in Dubai. Though capturing the attention of the international tourist remains central to premium brands, long-term residents of Dubai is a key demographic in their own right. And a growing desire for a quieter, more genuine form of opulence is steering the agenda.

This has, equally, been driven by the city’s increasing population of high networth individuals, which has risen to 67,900 in June 2023 compared to 54,000 in June 2021.

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Google searches for the quiet luxury term has grown by a staggering 614 per cent in the last year, while terms like ‘old-money outfit’ gathering more than 74,000 searches per month. Quiet luxury has now extended into all aspects of life, including hospitality, architecture and retail.

A different sort of experience

But it is Dubai’s ability to listen and adapt to the market trends that have placed it at the forefront of international tourism and led to its success as a global economic hub.

The city has recognized the importance of sustainability in the luxury industry, from environmental-friendly architecture to hyper-connected living. Dubai is focusing on providing eco-conscious practices and embracing a more responsible - and harmonious - approach to luxury living.

Equally, consumers are increasingly looking for destinations with history, flair and understated sophistication, seeking to travel consciously and engage in community initiatives that make the world a better place.

The Covid pandemic has played a role in this transformation, making people see that flaunting wealth lacks substance, personality, and human connection. Celebrities and influencers have faced criticism for their obsession with 5-star bling, which often fosters feelings of disconnection and superficiality.

Easy with the bling

In contrast, quiet luxury places importance on meaningful experiences and products that enrich life on a holistic level. The UAE's affinity for Snapchat exemplifies the shift towards luxury being about exclusivity and authentic endorsement, rather than publicized sponsorships.

This change also drove a deeper yearning for authentic hospitality experiences of understated sophistication, greater simplicity, and emotional fulfilment and the global hospitality and dining sector has seen a significant shift. In Dubai it’s a move away from gold-frosted drinks and truffle-layered menus to more genuine experiences, rich in depth and character, not just in the price tag.

While Dubai's Michelin-starred restaurants and hidden gems have rightfully garnered global attention, the dining scene is evolving to also cater to those who appreciate understated sophistication. Diners are now willing to pay for menus featuring locally sourced ingredients, fostering experiences that engage all the senses.

'Logo-mania'

Within the retail industry, logo-mania has been eradicated and priority has been placed on exclusivity and craftsmanship. It is no coincidence that the beacon of quiet luxury, Loro Piana, recently opened a new flagship in Dubai Mall. In fact, a BoF Insights study found that as much as 50 per cent of high earners in the UAE spend $1,000 on luxury fashion per month.

Although the city is known for its luxury malls and high-end boutiques, there is a notable flourishing of smaller, independent stores that offer unique, handcrafted and ethically sourced products. Ultimately, quiet luxury clearly prioritises quality over quantity.

Cultural destinations have also grown significantly in Dubai, with world-class museums, art galleries, and cultural districts celebrating both the city's history and the global art scene.

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Places like Dubai Design District (d3) and the Al Fahidi Historic Neighbourhood provide insights into Dubai's rich heritage and artistic expression, fostering a deeper appreciation for the intellectual and aesthetic aspects of luxury.

Dubai's transformation towards quiet luxury is a testament to its adaptability and foresight. Agile as ever, Dubai is setting new standards for a genuine, subtle, and refined form of opulence.

Although there will always be a demand for 5-star bling, by simultaneously embracing sustainability, authenticity, and a connection with its traditional luxurious culture, Dubai continues to resonate with the evolving desires of a global audience.

Dubai's real estate sector, as showcased in the Q3 2023 market update, is not merely thriving: it's flourishing. The diversity in property types, the impressive surge in transactions, and the remarkable growth in total worth reflect a market that continually adapts to meet the evolving needs and aspirations of its investors and residents. As the city looks towards the future, the Q3 2023 results affirm that Dubai's real estate remains an unwavering symbol of innovation, resilience, and unparalleled growth.

Gardenia Residency, Jumeirah Village Circle: Another notable mention in the Q3 2023 market update is the Gardenia Residency located in the heart of Jumeirah Village Circle. This residential gem has been gaining traction among investors and homeowners alike. With its modern architecture, state-of-the-art amenities, and a serene environment, Gardenia Residency offers a unique blend of urban living with a touch of nature. Its strategic location within Jumeirah Village Circle, which tops the list in the number of transactions, further accentuates its appeal. The development promises not just a home, but a lifestyle that resonates with the aspirations of today's discerning residents. As Dubai's real estate market continues its upward trajectory, Gardenia Residency stands as a testament to quality living in the city.

Swiss Developer DHG Properties to Introduce Affordable Luxury Living in Dubai

 

Dubai’s real estate landscape is set to be enhanced with a touch of Swiss elegance as DHG Properties, a prominent Swiss developer with a strong international presence, unveils its plans to enrich the city's luxury housing market. Known for its exquisite craftsmanship and long-standing tradition in the realm of high-end construction, DHG is poised to infuse the booming property sector with its signature 'Swiss charm' at prices that promise to be within reach.

For over three decades, Shaikhani group has been at the forefront of architectural innovation and luxurious design. The developer's latest venture, Champions Tower 3, is a testament to Dubai's vision of grandeur and finesse in its real estate offerings. With its strategic location in the heart of Sports City, the 16-floor residential marvel is well on its way to redefine opulence and comfort, extending a unique blend of luxury and affordability to its prospective residents.

Champions Tower 3 is more than just a high-rise; it's a future landmark that captures the essence of DubaiLand's dynamism. The project's accessibility is one of its many virtues, with Dubai's iconic attractions, including the Dubai Mall, Palm Jumeirah, Burj Al Arab, and The Walk JBR, all within a 20-minute radius. Furthermore, its proximity to major airports like Dubai International Airport and the upcoming Al Maktoum International Airport underscores the convenience that residents will enjoy, making global travel seamlessly accessible.

This Swiss-inspired residential project is underpinned by the reputable legacies of the Shaikhani Group and Memon Investments, entities renowned for their commitment to excellence in the real estate domain. Champions Tower 3 is anticipated to elevate the standard of urban living, promising an experience steeped in sophistication and modernity.

As construction forges ahead, it becomes evident that Champions Tower 3 is a beacon of Dubai's relentless pursuit of architectural greatness. The city's ambition to host world-class homes aligns perfectly with the developer’s mission to offer an unmatched living experience. Through Champions Tower 3.

The Resurgence of Shaikhani Group in Dubai's Booming Real Estate Market

The real estate market in Dubai is currently experiencing a remarkable boom, with house prices and rents soaring to unprecedented heights. Popular communities such as Dubai Hills and Palm Jumeirah are at the forefront of this surge, commanding substantial premiums for villas and apartments. Amidst this thriving market, the Shaikhani Group of Companies, a well-established conglomerate in the real estate sector, is making a significant impact with its high-quality residential and commercial properties.

 

The Boom in Dubai's Real Estate: Recent research by Chestertons MENA for Q3 2023 has highlighted a staggering increase in house prices by up to 34 percent and rents by 46 percent in some areas of Dubai over the past year. This growth is driven by high buyer demand, particularly in sought-after communities like Dubai Hills and Palm Jumeirah. The premium villas and apartments in these areas are attracting considerable attention, marking a lucrative period for real estate investors and developers.

The Shaikhani Group’s Legacy and Growth: Founded by Mr Abubakar Shaikhani over three decades ago, the Shaikhani Group has established itself as one of the fastest-growing real-estate conglomerates in Karachi.

From its initial project, Tower 3 Apartments in Gardenia, the Shaikhani Group has diversified its portfolio, currently managing projects across various cities in Pakistan and Dubai. Its most recent venture, Reflections Apartments at Rabia Enclave Phase 1, is a testament to the group’s commitment to quality and innovation.

Re-establishing its Footprint in Dubai: After a brief period of consolidation, the Shaikhani Group is re-establishing its presence in the Dubai real estate market. With two decades of experience in developing high-quality residential and commercial properties in both Dubai and Karachi, the group is once again poised to make a significant impact. Operating under the banner of Real Estate Developers Shaikhani Group, the company has a strong track record of success and is well-positioned to capitalize on the current market upswing.

As Dubai's real estate market continues to soar, the Shaikhani Group stands out as a key player, leveraging its rich history, extensive experience, and a solid foundation in real estate development. With a portfolio of high-quality properties and a presence in some of the most lucrative markets in the region, the group is well-positioned to thrive in this dynamic and booming sector.

Dubai's Luxury Real Estate Magnet: Russian and Chinese Tycoons Seek Refuge

 

 

Amid escalating geopolitical tensions, Dubai's opulent real estate sector witnesses a surge in investments from affluent Russian and Chinese investors. These investors, in search of both impressive returns and a secure place for their wealth, are increasingly setting their sights on Dubai's prime properties.

 

Dubai Marina, Palm Jumeirah, and Jumeirah Beach Residences have emerged as the top picks for Russian investors, as per insights from Allsopp & Allsopp. The influx from Russia and China has significantly propelled the market dynamics in the UAE, with Dubai's high-end property market experiencing unprecedented growth, as shared by sources with Arabian Business.

 

One such epitome of modern residential splendor is Champions Tower 3, nestled in the vibrant heart of Sports City, Dubai. This 16-floor architectural masterpiece, still under construction, promises to set new benchmarks in urban luxury living. Located in the thriving DubaiLand precinct, Champions Tower 3 is a reflection of Dubai's relentless ambition in real estate innovation.

 

Its prime location offers residents unparalleled connectivity to Dubai's landmarks. The iconic Dubai Mall is a swift 22-minute drive, while the Palm Jumeirah is just 16 minutes away. Other attractions like the Burj Al Arab and The Walk JBR are a mere 20-minute drive from the tower. Additionally, the proximity to Dubai International Airport (DXB), a 27-minute drive, and the upcoming Al Maktoum International Airport, roughly 30 minutes away, ensures travel convenience.

 

Champions Tower 3 embodies Dubai's spirit of pushing the envelope in architectural brilliance. As its construction progresses, it symbolizes the city's commitment to providing world-class residences that cater to those with a penchant for luxury and modern living. Backed by the legacy of the Shaikhani Group and the innovative drive of Memon Investments, Champions Tower 3 is set to carve a niche in Dubai's real estate panorama, offering an unparalleled living experience.

Dubai Real Estate surge by 40% in Q3 2023

 

 

Dubai, United Arab Emirates: D&B Properties, a leading real estate company in Dubai, reports the city’s real estate market has witnessed exceptional growth in the third quarter of 2023, according to data by the Dubai Land Department. The market reports an extraordinary surge of 22% in transactions, with Q3 2023 recording 31,216 transactions compared to 25,503 in the same period in 2022. This spike in transactional activity is mirrored in the total worth of these transactions, which reached an impressive AED 97.55 billion, showcasing a remarkable 40% increase from AED 69.5 billion in Q3 2022.

 

Overview of Q3 2023:

• 40% increase in total value: AED 97.55 Billion in Q3 2023 compared to AED 69.5 Billion in Q3 2022.
• 22% increase in transactions: 31,216 transactions in Q3 2023 compared to 25,503 Transactions in Q3 2022.
• In Q3 2023: 23,042 units, 3,158 buildings, and 5,016 plots sold.

Market Analysis and Insights

The impressive surge in Q3 2023 transactions is emblematic of Dubai's enduring appeal as a global real estate hotspot. Investors and end-users alike have demonstrated unwavering confidence in the market, contributing to the substantial 22% increase in overall transactions.

Husni Al Bayari, Chairman & Founder of D&B Properties, shared insights into the market dynamics, saying, " The Q3 2023 real estate performance encapsulates Dubai's property market not just as enduring but as a dynamic force of innovation and adaptability. It's not merely about numbers; it's about Dubai's remarkable ability to evolve and thrive in the face of changing global landscapes. The substantial surge in transactions and market worth is a living testament to the city's unwavering charm among investors worldwide, showcasing Dubai as a resilient and forward-thinking real estate powerhouse."

Adham Younis, Group CEO of D&B Properties, remarked, "Dubai's allure in the real estate realm remains unwavering, and the third-quarter performance solidifies its position as a global beacon for investment. The diverse success stories within our top-performing communities and the substantial surge of 22% in transaction volume, resulting in a market worth of AED 97.55 billion, mirror the city's dynamic property landscape. Dubai not only beckons with iconic structures but also resonates as a symbol of growth, adaptability, and unparalleled opportunities in the real estate sector. The numbers speak volumes about Dubai's ability to continually redefine standards and attract savvy investors seeking lasting value and returns."

Top Communities by Transaction Value:

1. Dubai Harbour: AED 3.04 Billion
2. Palm Jumeirah: AED 66 Billion
3. Sobha Hartland: AED 2.52 Billion
4. Business Bay: AED 2.43 Billion
5. Dubai Creek Harbour: AED 1.62 Billion

Dubai Harbour: The waterfront wonder has emerged as the leader in transaction value for first sales in Q3 2023, recording an impressive AED 3.04 billion. With its luxurious residences, stunning views, and proximity to key attractions, Dubai Harbour continues to allure investors seeking exclusivity and marine-centric living experiences.

Palm Jumeirah: This luxury community retains its status as a real estate gem, securing the second spot in transaction value for first sales with AED 2.66 billion. This man-made archipelago remains a symbol of Dubai's opulence, offering a lifestyle synonymous with luxury, leisure, and panoramic ocean vistas.

Sobha Hartland: Renowned for its masterfully crafted residences and lush landscapes, this neighborhood takes the third spot with a transaction value of AED 2.52 billion. The community's fusion of modern living and natural surroundings appeals to those seeking a harmonious balance between sophistication and serenity.

Business Bay: A vibrant business and residential hub, Business Bay secured the fourth position with a transaction value of AED 2.43 billion. Its strategic location, coupled with a mix of commercial and residential spaces, makes Business Bay a dynamic choice for investors and end-users alike.

Dubai Creek Harbour: The burgeoning Dubai Creek Harbour claims the fifth spot with a transaction value of AED 1.62 billion. As a waterfront destination, it encapsulates the vision of a harmonious urban lifestyle, offering a perfect blend of modernity and natural beauty.

Top Communities by Number of Transactions:

1. Jumeirah Village Circle: 1,418 transactions
2. Arjan: 1,163 transactions
3. Sobha Hartland: 1,115 transactions
4. Business Bay: 1,094 transactions
5. Jumeirah Lakes Towers: 765 transactions

Dubai's real estate sector, as showcased in the Q3 2023 market update, is not merely thriving: it's flourishing. The diversity in property types, the impressive surge in transactions, and the remarkable growth in total worth reflect a market that continually adapts to meet the evolving needs and aspirations of its investors and residents. As the city looks towards the future, the Q3 2023 results affirm that Dubai's real estate remains an unwavering symbol of innovation, resilience, and unparalleled growth.

Gardenia Residency, Jumeirah Village Circle: Another notable mention in the Q3 2023 market update is the Gardenia Residency located in the heart of Jumeirah Village Circle. This residential gem has been gaining traction among investors and homeowners alike. With its modern architecture, state-of-the-art amenities, and a serene environment, Gardenia Residency offers a unique blend of urban living with a touch of nature. Its strategic location within Jumeirah Village Circle, which tops the list in the number of transactions, further accentuates its appeal. The development promises not just a home, but a lifestyle that resonates with the aspirations of today's discerning residents. As Dubai's real estate market continues its upward trajectory, Gardenia Residency stands as a testament to quality living in the city.

Inside Dubai’s secret real estate market for celebrities, VIPs, ultra-rich

 In addition to a secret platform, clients can benefit from bespoke services including complimentary helicopter tours and chauffeur-driven blacked-out vehicle viewings

A new real estate service in Dubai now enables privacy-conscious individuals to discreetly sell their homes without attracting public attention. Tailored for clientele such as celebrities, VIPs, and high-net-worth individuals, the Off-Market Listing (OML) platform ensures the utmost confidentiality in property transactions.

Founded by Ainsley Duncombe, OML will offer a platform for clients to sell their properties discreetly in addition to bespoke services such as helicopter viewings and chauffeurs.

Nestled within the dynamic enclave of Sports City in Dubai, Champions Tower 3 emerges as a shining example of contemporary residential excellence. This 16-story residential marvel, currently in the process of being developed, is set to redefine urban living, presenting a harmonious fusion of opulence, convenience, and architectural ingenuity. Positioned in the bustling DubaiLand district, Champions Tower 3 stands as a testament to Dubai's unwavering dedication to pushing the boundaries of real estate development.

Champions Tower 3's strategic location ensures effortless connectivity to key destinations throughout Dubai. A mere 22-minute drive brings residents to the iconic Dubai Mall, while Palm Jumeirah is a mere 16 minutes away. The renowned Burj Al Arab and The Walk JBR are each conveniently reachable within a 20-minute drive from the tower. Furthermore, travel is made seamless with Dubai International Airport (DXB) just 27 minutes away, and the new Al Maktoum International Airport accessible in approximately 30 minutes by car.

In a city known for its commitment to innovation, Champions Tower 3 encapsulates Dubai's unwavering pursuit of excellence. As the tower continues to ascend, it stands as a symbol of Dubai's dedication to delivering top-tier living spaces that resonate with individuals seeking luxury, comfort, and a contemporary lifestyle. With the Shaikhani Group's storied history of excellence and Memon Investments' commitment to innovation, Champions Tower 3 is poised to make a lasting impression on Dubai's real estate landscape, offering a living experience that is truly exceptional.

 

The United Arab Emirates (UAE) has introduced new real estate laws

Sheikh Saud bin Rashid Al Mu’alla, the Ruler of Umm Al Quwain, has issued these laws with the aim of enhancing the real estate sector's development and aligning it with the emirate's urban expansion plans.

 

These comprehensive laws encompass various aspects of real estate activities, including mortgage regulations, property development pricing, investors' rights, and property registration in the UAE.

- Law No. 2 of 2023 establishes the Interim Real Estate Register of Umm Al Quwain and regulates property registration activities within the emirate.

- Law No. 3 of 2023 focuses on the regulation of real estate development activities, pricing of real estate projects, and the creation of real estate escrow accounts. It ensures the protection of investors, real estate companies, and property developers.

- Law No. 4 of 2023 amends Law No. 3 of 2007 on real estate escrow accounts in Umm Al Quwain, providing guidelines for better regulation of real estate sales transactions and compliance with regulations issued by the Real Estate Foundation.

- Law No. 5 of 2023 regulates mortgage registration activities through the Umm Al Quwain Municipality Department, following regulations set by the Central Bank of the UAE. It also addresses issues and violations related to unregistered mortgages.

- Law No. 6 of 2023 safeguards investor rights in cases of delays or obstacles in real estate development projects, with provisions for project completion when feasible. It establishes a special committee to handle matters related to canceled or incomplete real estate projects.

- Law No. 7 of 2023 amends Law No. 2 of 2005, focusing on the regulation of real estate brokerage activities within the emirate, providing legislation and guidelines for the oversight of all brokerage activities.

Champions Tower 3: Redefining Luxury Living in Dubai's Sports City

 

Nestled within the vibrant enclave of Sports City in Dubai, Champions Tower 3 emerges as a beacon of modern residential excellence. This 16-storey residential masterpiece, currently under development, promises to elevate the standards of urban living, offering a harmonious blend of luxury, convenience, and architectural innovation. Situated in the dynamic DubaiLand area, Champions Tower 3 stands as a testament to Dubai's unwavering commitment to pushing the boundaries of real estate development.

Behind the Vision: The Developer

The visionary force driving Champions Tower 3 is none other than the esteemed Shaikhani Group, a name synonymous with excellence and innovation in the real estate sector. This remarkable endeavor is being realized through the dedicated efforts of its subsidiary, Memon Investments. With a track record of delivering iconic developments that resonate with Dubai's dynamic spirit, the Shaikhani Group ensures that Champions Tower 3 will be no exception.

A Grand Endeavor: Unveiling the Details

Anticipation builds as Champions Tower 3 takes shape, poised to stand tall as a testament to modern architectural brilliance. This 16-storey residential gem is set to host an impressive total of 256 units, each meticulously designed to cater to diverse preferences and lifestyles. The tower is thoughtfully conceptualized to provide residents with an unparalleled living experience that blends elegance with functionality.

Uniting Elegance: Unit Layouts

Champions Tower 3's allure lies not only in its towering presence but also in its thoughtfully curated unit layouts. This residential marvel embraces a harmonious blend of options, featuring a mix of studios, one-bedroom, and two-bedroom apartments. This diverse range ensures that the tower caters to individuals, couples, and families alike, creating a close-knit community of individuals who appreciate the finer aspects of life.

Architectural Marvel: Design and Aesthetics

As a symbol of architectural innovation, Champions Tower 3 seamlessly fuses form and function. The tower's design captures Dubai's progressive spirit, with a sleek and modern aesthetic that resonates with the city's dynamic landscape. Its facade exudes sophistication, while the interiors are designed to provide comfort and opulence in equal measure. With meticulous attention to detail, the tower embodies the essence of contemporary luxury living.

Connected Living: Transport and Accessibility

Champions Tower 3's strategic location ensures effortless connectivity to key destinations across Dubai. A mere 22-minute drive takes residents to the iconic Dubai Mall, while Palm Jumeirah is only 16 minutes away. The illustrious Burj Al Arab and The Walk JBR are each a convenient 20-minute drive from the tower. Moreover, travel is made easy with Dubai International Airport (DXB) just 27 minutes away, and the new Al Maktoum International Airport accessible within approximately 30 minutes by car.

In a city that thrives on innovation, Champions Tower 3 encapsulates Dubai's relentless pursuit of excellence. As the tower continues to rise, it stands as a testament to Dubai's commitment to delivering world-class living spaces that resonate with individuals seeking luxury, comfort, and a modern lifestyle. With the Shaikhani Group's legacy of excellence and Memon Investments' dedication to innovation, Champions Tower 3 is poised to leave an indelible mark on Dubai's real estate landscape, offering a living experience that is nothing short of extraordinary.

Gardenia Residency: Where Luxurious Living Meets Dubai's Real Estate Excellence

 

In a resounding testament to Dubai's thriving real estate market, property and real estate transactions surged to an impressive $10.5 billion ($2.9 billion) in the week ending August 18, according to data released by the Dubai Land Department. A total of 3,751 transactions were recorded during this period, painting a vivid picture of the city's dynamic property landscape.

The breakdown of transactions unveiled a diverse spectrum of investments. Notably, land sales amounted to AED 1.2 billion ($327 million), while a substantial AED 6.86 billion ($1.9 billion) exchanged hands for the sale of 2,782 apartments and villas. These figures underscore the continued appeal of Dubai's real estate market, drawing both local and international investors seeking to participate in its robust growth.

Among the highlights of these transactions were the top three land sales. A plot in Al Barshaa South Third commanded a remarkable AED 140 million ($38 million), followed closely by land in the esteemed Palm Jumeirah area, fetching AED 106 million ($29 million). Additionally, a plot in Al Hebiah Fourth secured a substantial AED 91 million ($25 million), further showcasing the attractiveness of Dubai's prime locations.

Madinat Hind 4 emerged as a pivotal hub of activity, boasting 21 sales transactions valued at AED 28.86 million ($7.9 million) in a single week. Not far behind, Al Hebiah Fifth recorded 20 sales transactions with a cumulative value of AED 51.65 million ($14.1 million), while Jebel Ali First saw 13 sales transactions amounting to AED 80 million ($21.8 million). These numbers underscore the enduring demand for properties across diverse areas of Dubai.

The realm of apartments and villas experienced its own surge, marked by three remarkable transfers. An opulent apartment in Palm Jumeirah changed hands for an impressive AED 112 million ($30.5 million). Not to be outdone, an apartment in Zabeel First commanded AED 59 million ($16.1 million), while a residence in the iconic Burj Khalifa was sold for AED 57 million ($15.5 million), showcasing the city's penchant for luxury living.

Beyond the sheer transactional aspect, the week also saw AED 1.99 billion ($542 million) in mortgaged properties, with Business Bay leading the way with a mortgage value of AED 350 million ($95 million). In a touching display of familial connections, 109 properties were transferred between first-degree relatives, collectively valued at AED 438 million ($119 million).

Amidst this vibrant real estate landscape, Gardenia Residency takes center stage as a prestigious address nestled in the heart of Jumeirah Village Circle. More than just a collection of luxurious living spaces, Gardenia Residency represents a lifestyle, an experience, and a symbol of Dubai's relentless pursuit of excellence. As Dubai maintains its position as the global leader in luxury home price growth, even surpassing renowned cities like Paris, New York, and London, Gardenia Residency stands tall as a beacon of the city's commitment to offering unparalleled opportunities to all.

Prospective buyers are presented with a golden opportunity to secure their place in this iconic address. As the project continues to shine amidst Dubai's ever-evolving real estate landscape, it invites individuals to become part of a legacy of comfort, elegance, and opulence, encapsulating the very essence of Dubai's real estate success story.

Unstoppable Dubai Real Estate: Gardenia Residency Shines Bright

 

Dubai's real estate sector is a force to be reckoned with, and the numbers are here to prove it. As of the first half of 2023, the city's real estate transactions have surged to an astounding AED 177 billion (USD 48 billion), showcasing the undeniable momentum of this thriving market. With over 60,000 transactions completed, it's clear that Dubai's appeal is stronger than ever.

 

Diving into the specifics, the residential and commercial real estate markets have witnessed an impressive growth of 46.7% and 30%, respectively. Among the standout deals, two giants take the spotlight. The sale of a sprawling land plot near Al Maktoum International Airport, encompassing a staggering 203 million sq. ft, commanded a noteworthy AED 3.8 billion (USD 1 billion). Meanwhile, an opulent apartment in the prestigious Bulgari Residence on Jumeirah Bay Island dazzled the scene with a valuation of AED 410 million (USD 112 million).

 

The crown jewel of Dubai's real estate prowess, however, is the luxurious haven known as Gardenia Residency. Nestled within the vibrant neighborhood of Jumeirah Village Circle, Gardenia Residency has emerged as the talk of the town, capturing the hearts and attention of potential buyers far and wide.

 

The success story of Gardenia Residency is one for the books. A captivating sales campaign coupled with an unwaveringly dedicated sales team have propelled this masterpiece to unparalleled heights. The result? A remarkable surge in registrations and sales that has left the real estate world in awe.

 

Gardenia Residency doesn't just offer luxurious living; it embodies it. This prestigious address in the heart of Jumeirah Village Circle stands as a testament to comfort, elegance, and opulence. As the project continues to shine amidst Dubai's ever-evolving real estate landscape, prospective buyers are presented with a once-in-a-lifetime opportunity to secure their place in this iconic address.

 

But Gardenia Residency isn't just about lavish living spaces; it's a lifestyle, an experience, and a symbol of Dubai's relentless pursuit of excellence. As the city maintains its position as the number one global destination for luxury home price growth, even surpassing the likes of Paris, New York, and London, Gardenia Residency stands as a beacon of the city's commitment to providing opportunities for all.

 

With limited remaining inventory, the time to act is now. Don't miss your chance to be part of this extraordinary legacy. Gardenia Residency invites you to embark on a journey of unprecedented living, where luxury knows no bounds and every moment is an occasion to cherish. Secure your place in history, embrace the allure of Dubai's real estate magic, and become a part of the Gardenia Residency family today.