## Fast and furious: Is Dubai's off-plan market keeping pace?

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In this week’s episode of Taking Care of Business, join our Operations Director; Paul Kelly and our Head of Developer Sales; Fintan Flannelly, to talk all-thing off-plan. Uncover how the off-plan market soared to new heights in August 2023, and what new developments are coming to Dubai?

Tune in to find out! 

## News that caught our attention this week

### Could Mohammed Alabbar launch a real estate fund?

Mohammed Alabbar, the renowned CEO of Emaar Properties, might soon launch his very own real estate fund. In a recent interview, Mohammed Alabbar expressed his desire "to give something back to the industry that has given me so much." Could that "something" be his very own real estate fund?

Click [here](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1080-Could-Mohammed-Alabbar's-next-move-be-launching-his-own-real-estate-fund?) to find out! 

### DIFC Living: What can we expect from Dubai’s newest launch?

Last week, DIFC announced their first-ever development; DIFC Living. A mixed-use tower set to feature 170 residences, 9 floors of commercial spaces, restaurants, retail outlets and stunning amenities all overlooking the DIFC community. 

Keen to continue reading? Click [here](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1076-What%E2%80%99s-DIFC%E2%80%99s-newest-launch-and-what-can-we-expect?-).

### The UAE economy is poised for accelerated growth in 2024!

The United Arab Emirates (UAE) is gearing up for a period of robust economic growth! With forecasts from S&P, predicting a 3% surge in 2023, followed by an even more impressive 4% expansion in 2024, a question on everyone’s mind is: What's driving this economic uptick, and what can we expect in the coming years?

Read [here](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1078-UAE-economy-poised-for-3-percent-growth-in-2023,-accelerating-to-4-percent-in-2024:-S&P-Insights) to find out more! 

### Can we see self-driving taxis in Dubai?

Innovation is Dubai’s middle name and since RTA has been on a roll innovating new roads, bridges and exits to ease traffic, it was only the right time to launch self-driving taxis. Best believe, these are already in testing mode and would hit the roads as soon as next month! 

Want to know more about them? Continue [reading](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1077-Can-we-see-self-driving-taxis-in-Dubai-soon?). 

## HOT OFF THE PRESS!

### Charlie King with Serenity - HIA Magazine

Take a look at Allsopp & Allsopp’s newest exclusive property in the heart of Al Barari - Serenity. 

Read [here](https://www.hiamag.com/%D9%84%D8%A7%D9%8A%D9%81-%D8%B3%D8%AA%D8%A7%D9%8A%D9%84/%D8%AF%D9%8A%D9%83%D9%88%D8%B1/1698731-%D9%86%D8%B8%D8%B1%D8%A9-%D8%B9%D9%84%D9%89-%D9%81%D9%8A%D9%84%D8%A7-serenity-%D9%81%D9%8A-%D8%A7%D9%84%D8%A8%D8%B1%D8%A7%D8%B1%D9%8A-%D8%AF%D8%A8%D9%8A-%D8%AD%D9%8A%D8%AB-%D8%AA%D8%AC%D8%AA%D9%85%D8%B9-%D8%A7%D9%84%D9%81%D8%AE%D8%A7%D9%85%D8%A9-%D9%88%D8%A7%D9%84%D8%B7%D8%A8%D9%8A%D8%B9%D8%A9-%D8%A8%D8%AA%D9%86%D8%A7%D8%BA%D9%85). 

### Allsopp & Allsopp Monthly Market Snapshot - Arabian Business

Did you know that 6% of total sales in August came from German buyers? They made up as the top five buyers for the month in our Allsopp & Allsopp Monthly Market Snapshot.

Read more [here](https://www.arabianbusiness.com/industries/real-estate/dubai-real-estate-prices-surge-52-yoy-in-august-2023).

## Company Updates

### Come home to beachfront living within this stunning four-bed in Jumeirah Beach Residences!

![a0O4S000000y4V7UAI_m_DSC08846.jpeg](https://strapiallsopp.s3.eu-west-1.amazonaws.com/a0_O4_S000000y4_V7_UAI_m_DSC_08846_a49dcbfd32.jpeg)

This incredibly chic four-bedroom apartment, currently available for sale in Murjan 1, boasts a comprehensive upgrade with top-notch finishes and an impeccable open-plan design – it truly has everything you desire.

Want to check it out?

For sale: AED 6,000,000
Contact [Kian O'Neill on +971585578642](https://api.whatsapp.com/send?phone=+97144295577&text=Hi%20There%2C%20%0A%0AI%20am%20interested%20in%20the%20listing%2C%20https://www.allsoppandallsopp.com/dubai/property/sales/dubai-L-201486?utm_campaign=later-linkinbio-allsoppandallsopp&utm_content=later-38093631&utm_medium=social&utm_source=linkin.bio%2C%20from%20your%20website.%20I%20would%20like%20to%20get%20more%20information%2C%20please.%20%0A%0ARef%3A%20L-201486%0A%0AThank%20you.)
Trakheesi Permit: 7115340500


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Dubai's Weekly News Snapshot: The Ampersand 29-09-2023


In this week’s episode of Taking Care of Business, join our Operations Director; Paul Kelly and our Head of Developer Sales; Fintan Flannelly, to talk all-thing off-plan. Uncover how the off-plan market soared to new heights in August 2023, and what new developments are coming to Dubai?

Let’s jump into what took place throughout the podcast! 

### The rise of off-plan sales

Paul kicks off the discussion by highlighting the impressive growth in off-plan sales. In August, off-plan sales accounted for a significant 58 percent of the property market, a substantial increase from the typical 50-50 split between off-plan and secondary sales. Year-on-year comparisons show a remarkable 79 percent increase in off-plan sales in 2023, with 41,775 off-plan units sold by August.

#ICYMI - Take a look at our August Market Snapshot [here](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1063-August-2023-Property-Market-Snapshot).

### Understanding the market dynamics

Fintan delves into the dynamics behind this surge. He emphasises that this trend isn't just a recent development but has been building for the past 18 months. Multiple factors are contributing to this boom, including geopolitical situations, economic concerns in the Eurozone, and Dubai's vision for 2040, aiming to attract population growth and diverse industries.

### Challenges in commercial real estate

The conversation also touches on the pressing issue of commercial real estate. With Dubai's growing population and influx of businesses, there's a significant shortage of commercial office space. Commercial prices have soared, and developers haven't introduced many commercial off-plan options. However, Fintan points out that developments like Expo City are beginning to address this need.

### Competition amongst developers

The hosts discuss the competition among developers in terms of flexible payment options and other incentives. While pricing and payment plans are still factors, the focus is increasingly shifting towards the quality and features of the product. Smart home technology, fully furnished properties, and other amenities are becoming differentiating factors.

### Global attraction to Dubai’s property market

International investors are increasingly drawn to Dubai's real estate market. Buyers from different countries see Dubai as a safe haven for their investments, given its international credibility. Fintan also mentions that many investors are diversifying their portfolios, looking for real estate assets pegged to the dollar.

### The rise of international developers

The podcast highlights examples of international developers entering the Dubai market. Companies like Leo's from the UK and Fortimo from Switzerland have chosen to invest in Dubai due to the high demand and favourable market conditions. They've brought their expertise to Dubai, offering quality developments to a global clientele.

### Predicting the future

As the conversation wraps up, Fintan predicts that the off-plan market will continue to thrive in the coming months. With the arrival of the tourist season and more projects in the pipeline, Dubai's real estate market is poised for exciting times ahead.

Tune in to Taking Care of Business, every Friday!



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Fast and furious: Is Dubai's off-plan market keeping pace?

If you’ve been in Dubai for a while now, it comes as no surprise that the city runs smart, everything is easily and instantly accessible through your phone. 

From smart innovations to implementing AI technologies across all boards, nothing is impossible. Similarly, Allsopp & Allsopp have also enhanced our business through the help of tech and data innovations. 

And here’s how we did it…

### We are data driven!

As you might have known, we have our very own Allsopp & Allsopp first-party data, which our data team sources every month to create our monthly market snapshots in line with Dubai Land Department data and our first-party data. 

Not only does this [create data transparency between us and our clients](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1058-What-is-the-importance-of-Data-Transparency-in-the-property-market?), it also helps the general audience keep up with the property market. The report is easy to understand and [provides an in-depth market analysis of the property market in Dubai](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1072-Why-does-data-transparency-matter?), taken through our first-party data. 

Hosting data also gives [our agents the knowledge and ability to keep up with buyers, sellers and tenants](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/927-Can-data-transparency-in-the-market-switch-up-the-game-for-buyers-and-sellers%3F) and to help them make well-informed decisions.

### Why is this important?

Offering ease to your audience helps build confidence. So when your [clients can access the property market and unlock insights into how the market is performing](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1071-Why-is-it-crucial-to-study-the-property-market-before-investing?), they are more likely to trust you and come to you for their next property purchase. 

New investors that are moving to Dubai often search for data in order to understand the market better and make informed decisions. When they have access to this data, they are more confident in their decision to [move to Dubai](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1043-Five-reasons-why-you-should-move-to-Dubai-in-2023%3F).

Data transparency also helps many buyers and tenants understand [whether buying or renting is right for them](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1037-Renting-vs--Buying%3A-Which-is-right-for-you%3F). Hence tech innovations enhance businesses as it gives your audience a chance to know everything they need to know in a simple click of a few buttons.

### We always look for solutions!

Some solutions that our tech team has developed in-house include:

**Mortgage Calculator**

Ever wondered how you could calculate your mortgage? 

We have all been there, seeing a property and contemplating how much this would cost us! Well, here’s a hack, at [Allsopp & Allsopp, through the help of technology we created our very own Mortgage Calculator](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/391-calculate-your-mortgage-payments-in-seconds), which would give you an easy and in depth idea of how much you could wound up paying for your mortgage.

Including the interest rate, the amount of years and the price, you could calculate [just how easy it could be to get a mortgage in Dubai.](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/757-Mortgagers%3A-Your-guide-to-first-time-Mortgages-in-Dubai) And ofcourse, we at Allsopp & Allsopp have our very own mortgage brokerage, so getting a [pre-approval on those numbers](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/304-The-Importance-of-a-mortgage-pre-approval-in-Dubai%E2%80%99s-real-estate-market-) would be quite easy! 

Take a look at our Mortgage Calculator [here](https://www.allsoppandallsopp.com/dubai/properties/mortgages?saf_src=google_g&saf_pt=&saf_kw=home%20loan%20repayment%20calculator&saf_dv=&saf_cam=15987629033&saf_grp=144707628621&saf_ad=654179647176&account_id=9951463246&saf_acc=9951463246&gclid=CjwKCAjw6eWnBhAKEiwADpnw9jF876uqARMtS8Mu-foQ8zRa35nG-eYywh5uswZ5JeQPKV5oL5VvrRoCVB8QAvD_BwE).

**Buying vs. Renting Calculator**

A common question many ask is “could buying be cheaper than renting?” 

And if you are curious to find out, what if we told you there was a tool that could tell you in seconds, whether buying is cheaper for you compared to your annual rent. 

At Allsopp & Allsopp, we have an exciting tool - known as the [buying vs. renting tool](https://www.allsoppandallsopp.com/dubai/guides/buy-vs-rent)which can easily tell you [whether a mortgage would be cheaper](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/758-Dubai's-rental-rates-at-an-all-time-high:-Are-mortgages-a-better-option?) than your rent. Did you know, [buying is 45% cheaper than renting in Dubai?](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/875-Buying-remains-cheaper-than-renting!-Allsopp-%26-Allsopp-Group-launches-Rent-vs-Buy-Calculator-) Based on how long you choose to take out a mortgage, the property’s value and your current rent, this tool would let you know how much you could wound up paying monthly, as well as annually with a percentage bracket, so you can make an informed decision! 

For those actively searching, our sales team is always on hand to help look out for the perfect homes that fit within your budget and are suited to your needs! 

Check out our Buy vs. Rent Calculator [here](https://www.allsoppandallsopp.com/dubai/guides/buy-vs-rent).

**Data Hub**

Curious to know how much Sally down the road pays for rent? What if we told you there was a way to find out!

We know just how much people search for data transparency in the market, but we at Allsopp & Allsopp believe it goes beyond just market reports and statistics. Aren’t we all a bit curious and nosey to know how much others are paying for their rents or how much they got their property for. 

[With Allsopp & Allsopp’s newest launch - The Data Hub](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/893-Allsopp-&-Allsopp-launches-a-comparable-data-insight-for-all-listings), you could easily take a look at what transactions are taking place in what community, for what property and just for how much, be it ready or off-plan! Our Data Hub is in partnership with Dubai Land Department and Property Finder, giving you accurate information about deals across Dubai over the last 90 days, and is updated every 15 minutes.

Check out our Data Hub [here](https://www.allsoppandallsopp.com/dubai/properties/property-data-hub/sales/in-areas-community-downtown%20dubai)!

If you found this guide helpful or would like to know more about real estate, [get in touch with our team of experts](https://www.allsoppandallsopp.com/)! 

And if you’re shopping for your next home in Dubai, take a look at our [live listings](https://www.allsoppandallsopp.com/dubai/properties/residential/sales)! 


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Tech transformation: How data is driving the real estate market like never before!

Pumpkin spice season is upon us!

And as the air cools down and the hot summer sun tucks away behind the clouds, unlike the majority of the world, Dubai comes back to life!

Of course, this also means one thing, and one thing only - social season is here and here to stay long into the winter months.

Whether you’re hosting a Halloween happening, throwing a thanksgiving tea-party or have already been nominated as the Christmas day chef…

We know one thing for sure.

No matter how delicious your dumplings are or how tasty that first sip of tequila sunrise is as you sit down to your first bbq of the fall - your mood will without a doubt be dampened if you’re sat looking at worn-wall walls. 

So, to help you out. Our team of expert painters are here to uncover the top five colours you need in your paint palette this fall 2023.

It’s time to bring your home back to life Dubai!

### Rich Burgundy

![3010259d700091983f7d9c7672d0f70b.jpg](https://strapiallsopp.s3.eu-west-1.amazonaws.com/3010259d700091983f7d9c7672d0f70b_f5f030c1c2.jpg)

Perfectly suitable for a library or a comfortable den this colour brings out fall memories from colder countries where the months of October onwards are spent indoors, surrounded by the ones we love. 

Reminiscent of dinner affairs, this colour is a rather bolder move for those who wish to add personality to certain rooms of the house.

### Earthy Terracotta

![d922cdd74118dcfd9c5a38617f1f78cb.jpg](https://strapiallsopp.s3.eu-west-1.amazonaws.com/d922cdd74118dcfd9c5a38617f1f78cb_0d209be907.jpg)

Continuing on the fall theme, earthy terracotta is a classic in Arabic architecture. 

Perfectly suitable for outdoors facades like many of the Arabic style villas found across Dubai.

This colour would also fit perfectly in a kitchen with white cabinets and is the perfect choice for those wishing for a kitchen vibe that tells stories at glance. 

### Navy Blue

![navy-blue-bespoke-kitchen-1920.jpg](https://strapiallsopp.s3.eu-west-1.amazonaws.com/navy_blue_bespoke_kitchen_1920_1f03ecdaca.jpg)

Known for its sophistication, Navy blues are perfect for office areas especially when combined with modern stage units like bookshelves. 

To elevate your space even further, adding metal interiors will add that extra touch of personality.

The colour blue, is also known for its pacifying elements, so is also recommended for accent walls in bedrooms and other rooms where relaxation is the objective!

### Hints of Lavender

![Trendy-levender-living-room.jpg](https://strapiallsopp.s3.eu-west-1.amazonaws.com/Trendy_levender_living_room_450e0b0c7f.jpg)

Known for its calming properties, this colour can do magic on bedroom walls, bathrooms, and even in children’s playrooms. 

Also used as an accent colour for kitchen cabinets of homes found in the pages of Architecture Digest, this colour although calm should be used with moderation in order to not overpower the room it sits in. 

### Jade Green

![yellows-greens-colour-shade-asian-paints-2435.jpg](https://strapiallsopp.s3.eu-west-1.amazonaws.com/yellows_greens_colour_shade_asian_paints_2435_98044004e2.jpg)

This deep and luxurious green evokes a sense of tranquillity and nature whilst empowering the look and feel. Usually used with other earthy colours and elements this choice is sure to add an extra special touch.

If you’re looking for something subtle, it is perfect for kitchen cabinets or to sit under marble bathroom tops.

### Found this helpful?

If you found this guide helpful, and are looking to invoke the colourful magic in your home just in time for fall, get in touch with [our Home Maintenance experts](https://www.allsoppandallsopp.com/dubai/landlords/home-maintenance-services-dubai)!

 


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Autumn aesthetics: Top paint trends for fall 2023

It's never too early for a bold prediction, and here's one to consider: Mohammed Alabbar, the renowned CEO of Emaar Properties, might soon launch his very own real estate fund. 

Yes! With a track record of groundbreaking projects and a thriving real estate industry, the time could be ripe for this visionary developer to take this step.

### But how?

Looking back to 1995, Mohammed Alabbar managed to raise a staggering $300 million for a real estate fund, even when he was relatively unknown in the real estate world. He then went on to become the CEO of Emaar, the company that would later become synonymous with Dubai's skyline. It hadn't even been launched at that point. Fast forward 28 years, and the landscape has dramatically changed.

Emaar has left an indelible mark on the real estate scene, with iconic developments such as Dubai Marina and Downtown Dubai. Mohammed Alabbar's other real estate giant, Eagle Hills, is also making waves in nine countries with projects like the $2.5 billion mega yacht development in Albania and the $3.5 billion Ramhan Island venture.

What hasn't changed is Mohammed Alabbar's decision not to launch another real estate fund. Given his involvement in international projects, particularly in Eastern Europe and Egypt, now could be the ideal moment to reconsider.

### Here’s why!

Investors are eager to put their money into real estate, and with Mohammed Alabbar's track record, raising over $1 billion should be well within reach. Consider that Europe's real estate market is valued at a staggering $160 trillion and is expected to grow annually at 3.41 percent, approaching $190 trillion by 2028. In China, another region where Mohammed Alabbar is active, the market is now worth $130 trillion!

In Dubai, property prices have surged, with the average sales price reaching AED3,291,555 ($897,000) in August 2023, marking a year-over-year increase of 52 percent according to our [Allsopp & Allsopp August Monthly Market Snapshot](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1063-August-2023-Property-Market-Snapshot). The UAE's property market is thriving, but seasoned investors are eyeing international opportunities.

What's missing is an exciting new real estate fund, led by someone with a proven knack for picking winning projects, partners, and products. It's an opportunity for Mohammed Alabbar to create his own success story on a global scale, giving back to an industry that has rewarded him immensely.

In a recent interview, Mohammed Alabbar expressed his desire "to give something back to the industry that has given me so much." Could that "something" be his very own real estate fund? Only time will tell, but the prospect is undeniably intriguing.

### Interesting isn’t it?

Considering investing in an Emaar property? Take a look at our [live listings](https://www.allsoppandallsopp.com/dubai/properties/residential/sales)! 

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Could Mohammed Alabbar's next move be launching his own real estate fund?

While sustainability has been on the forefront of every development in Dubai, and innovation being incorporated in most government platforms, Dubai is set to witness a new player in the real estate sector for innovation and sustainability.

Say hello to ACUBE, a UAE-based construction-to-energy group, stepping into the game. With a focus on innovation and sustainability, ACUBE is all set to invest over $100 million in a series of residential projects over the next three years in Dubai.

### Sustainability takes centre stage

What sets ACUBE apart from others is its strong commitment to sustainability?

The company boasts an in-house research and development team dedicated to crafting energy-efficient and waste management technologies that will make their debut in the city. These innovations include harnessing solar power by using special materials on the glass facades of buildings, an initiative poised to elevate Dubai's sustainability game.

Ramjee Iyer, Chairman and Managing Director of ACUBE, emphasised the company's unique approach. "Yes, there are already many players in Dubai's real estate sector, but there will always be space for more players considering the influx of people to the city, and the country, year after year, propelling demand for more and more residential spaces," he stated.

"We will plough our own path with our quality construction and technological innovations for spreading environment-friendly footprint across our real estate projects," he added.

### A proven track record

While ACUBE may be new to Dubai's real estate landscape, it's no stranger to the world of property development. The company has already earned its stripes with successful residential projects in London and the Indian city of Chennai.

### A strong pipeline of projects ahead…

ACUBE isn't wasting any time. 

Their first residential project, Adhara Star, a 17-storey residential complex in Arjan, Dubai South, was launched last month. Another project is set to follow suit before the end of this year, bringing their total development plans for this year to around 270,000 square feet.

Looking ahead, the company aims to accelerate land acquisition efforts across Dubai and plans to develop one million square feet of Gross Floor Area (GFA) by 2025.

Initially focusing on residential projects, ACUBE intends to establish a strong presence before venturing into the commercial segment.

### Innovative investment plans

ACUBE's innovative investment plan is already making waves. Dubbed "one percent per month for 60 months," it's resonating with buyers. The company has also introduced a unique payment structure where the remaining 40 percent of costs can be paid over an 18-month period, culminating in the possession of their apartments.

Financing for the projects will primarily come from internal accruals in the initial phase. The group will explore external capital-raising options only after establishing itself as a trusted and quality developer.

### A rising star in Dubai’s property market

The Dubai property market is on a bullish run, with investors, both local and international, increasingly looking to acquire second and third properties. The combination of skyrocketing asset values and high rental yields is driving this trend. Furthermore, many tenants are opting to become property owners, further fueling the demand for residential real estate.

Dubai's comparative affordability, when stacked against global cities like London, New York, Singapore, or even Mumbai, is also drawing investors and homeowners alike.

As ACUBE enters the Dubai real estate scene with a commitment to sustainability and innovation, it's poised to make a significant impact on the city's property landscape. With a strong pipeline of projects and a unique investment approach, all eyes are on this new player as they redefine the future of real estate in Dubai.

### Keen to know more?

Get in touch with our [Head of Developer Sales; Fintan Flannelly](https://wa.me/+971561159044), for more details on these upcoming projects. 

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ACUBE: A new player in real estate for innovation and sustainability

As always, the United Arab Emirates (UAE) has been ahead in its game of economic innovations, future planning and incredible developments. 

So it comes as no surprise when we hear that the United Arab Emirates (UAE) is gearing up for a period of robust economic growth. But here’s what’s interesting! With forecasts from S&P, there are indications of a 3% surge in 2023, followed by an even more impressive 4% expansion in 2024. 

A question on everyone’s mind is:
### What's driving this economic uptick, and what can we expect in the coming years?

S&P analysts highlighted several key factors behind this optimistic outlook. 

The UAE government's comprehensive implementation of economic and social initiatives over recent years has played a pivotal role in setting the stage for sustained, long-term economic expansion. These strategic initiatives are designed to diversify the nation's economy away from its heavy reliance on oil.

### Tourism: The key growth driver

One of the standout contributors to this growth story is the UAE's robust tourism sector. 

With the ability to host major international events, master developments, and record breakers, the country is poised to attract an ambitious 40 million visitors by 2030. To accommodate this influx, multiple plans are already in place to expand the number of hotel rooms to 250,000.

This tourism boom is not limited to a single emirate; both Abu Dhabi and Dubai are actively working to draw business and tourism to the UAE. Additionally, other emirates like Ras Al Khaimah and Sharjah are promoting their unique tourism offerings, increasing diversification within the sector.

### Banking and real estate: The future of UAE’s successes

The UAE's banking sector remains strong, with profitability expected to surpass pre-pandemic levels due to rising interest rates. 

Technological advancements and strong internal capital generation are contributing to this resilience. Furthermore, the UAE's implementation of the corporate tax system is set to diversify government revenues away from oil, modernising the business environment in the process.

In the real estate sector, Dubai is expected to see greater flexibility with housing prices stabilising amid strong demand. The city's attractiveness for businesses is evident through the rising number of new commercial licences.

### The economic vision of the future

A combination of factors is fueling growth in the non-oil sector, including increasing expatriate and tourist inflows and positive sentiment among investors, consumers, and the private sector. 

This aligns with the "We Are the Emirates 2031" vision, which aims to boost trade volume and the tourism share of GDP through collaboration between government agencies, institutions, and the private sector.

The UAE's strategic initiatives, such as allowing 100% direct foreign ownership in various activities and introducing new visas like the Golden Residence Visa, are contributing to this economic revitalization.

In addition to these measures, the UAE is developing its yield curve denominated in the local currency, which will enhance local capital markets and expand financing sources for UAE companies and banks.

### A promising future for the UAE ahead:

With all these elements at play, the UAE stands as a beacon of economic growth in the region. As the nation forges ahead with its diversification efforts, the future indeed looks promising, setting a solid foundation for continued prosperity and development. 

If you found this blog helpful or would like to know more about UAE’s real estate market, get in touch with our team of experts! 

And if you’re shopping for your next home in Dubai, take a look at our live listings!

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UAE economy poised for 3 percent growth in 2023, accelerating to 4 percent in 2024: S&P Insights

Are you ready to embrace the future? 
Well, if you live in Dubai, you certainly are! 

Get set for another futuristic experience coming our way and to hop aboard a self-driving taxi because next month, the streets of Dubai are set to witness a groundbreaking transformation. The Roads and Transport Authority (RTA) has officially announced the imminent arrival of fully-automated self-driving taxis.

Yes! Self-driving taxis so no more worrying about the wrong turns or speeding, these taxis are safe and AI-controlled! 

Here’s everything you need to know…

### It's a glimpse into the future!

Picture this: You're in the vibrant Jumeirah 1 area, basking in the views of the stunning Dubai skyline and instead of the usual taxi, you spot a sleek, self-driving cab cruising along the street. 

No, this isn’t another series of Mission Impossible, it's not science fiction; it's the future of transportation, and it's about to become a reality in Dubai!

### Paving the road to innovation

Khaled Al Awadhi, the Director of Transportation Systems at RTA, shared this exciting news during the third Dubai World Congress for Self-Driving Transport. 

According to him, five driverless taxis will soon hit the 8-kilometre stretch of Jumeirah Road, connecting the Etihad Museum and Dubai Water Canal.

### Meet your captain: Cruise!

Now, while you place your booking on Careem, you might be wondering who's behind the wheel (or, in this case, the algorithm). Meet Cruise, a US-based self-driving technology company and a subsidiary of General Motors (GM) that would be the technology behind these self-driving taxis. 

Although they're not quite ready for human passengers during the trial phase, here's the good news: select individuals will have the chance to experience the future of transportation in Cruise taxis before the year's end. And by the second half of 2024, these self-driving taxis will be open for everyone to book.

### Dubai leads the way to a brighter a future

As always, Dubai is no stranger to innovation, and this latest development solidifies its position as a global pioneer. When the self-driving taxi service goes into full commercial operations in 2024, Dubai will be the first city in the world to have Cruise, self-driving vehicles outside of the US.

How impressive is that? No matter how many new innovative technologies or developments Dubai creates, we shall consistently continue to be amazed! 

### How do futuristic commutes work?

You might be wondering about how these taxis operate and the cost of this futuristic commute. While the exact fare for self-driving taxis is yet to be determined by the RTA, here's a hint: it's expected to be on par with limo taxis, which typically cost around 30% more than regular cabs in Dubai.

Soon, you might find yourself enjoying a ride in one of these autonomous wonders, cruising through the streets of Dubai.

### Planning to move to the innovative and impressive city of Dubai?

If these awe-inspiring highlights of Dubai have inspired you to move here, take a look at some of our [live listings](https://www.allsoppandallsopp.com/dubai/properties/residential/lettings)! 

### Keen to know more about how RTA is bettering roads across Dubai?

Check out our blog [here](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1054-RTA-Revolution:-Nine-innovative-changes-to-ease-traffic-and-congestion-around-Dubai-).

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Can we see self-driving taxis in Dubai soon?

As much as we love the new developments popping up around town, wouldn’t you love to see a crowd favourite welcoming another new development?

That’s right, Dubai’s favourite finance and tech hub, DIFC is set to welcome another new development and we have got all the details you need to know! 

Dubai International Financial Centre (DIFC) has made waves in the real estate market by announcing its first-ever residential project, 'DIFC Living,' and it has been SOLD OUT! The overwhelming demand for residential properties in Dubai has driven this remarkable achievement, which goes without saying.

### Here’s everything we know!

'DIFC Living' is a groundbreaking mixed-use development that incorporates over 170 residences. This project, introduced by DIFC, marks a significant milestone in the city's real estate landscape. With a planned completion date of Q3 2026, residential sales for this project commenced on September 20.

But wait there’s more, this project also features a commercial side to it, where there would be commercial units, retail stores, restaurants and much much more! 

According to Saleh Al Akrabi, who is the Chief Real Estate Officer at DIFC Investments, "The response to DIFC's first residential offering, 'DIFC Living,' has been outstanding as residents seek to reside in one of the world's leading financial hubs and harmonious urban living destinations. Buyers are demanding more in terms of smart living with a varied lifestyle offering."

### Where luxury meets sustainability!

One of the standout features of 'DIFC Living' is sustainability. The project adheres to LEED (Leadership in Energy and Environmental Design) ratings, with 24 of the building's 41 stories dedicated to sustainable residences.

These residences have a diverse array of unit types, ranging from one- to three-bedroom residences to one- and three-bedroom loft apartments, all made with sustainable resources.

The development also includes nine floors of commercial space, including two floors dedicated to co-working spaces, which will facilitate the third-phase expansion of DIFC's Innovation Hub.

### Amenities that redefine luxury living

Residents of 'DIFC Living' will be immersed in a world of opulence and convenience from the array of amenities in the tower, including:

- **F&B outlets:** Satisfy your culinary cravings with a range of dining options at your doorstep

- **Concierge services:** Everything you need, at the tip of your fingers

- **Private meeting rooms:** These rooms built are ideal for business or casual gatherings

- **Lounges:** Unwind in stylish and comfortable lounging areas

- **Temperature-controlled infinity pool:** Kick back and enjoy views over the DIFC community 

- **Gym:** A state-of-the-art fitness facility

- **Private cinema hall:** Host movie nights or private screenings at your convenience 

- **Kids' play area:** A large and entertaining space for the little ones.

Moreover, 'DIFC Living' will be seamlessly connected to Gate Avenue, a mini-mall within the DIFC community with retail outlets, restaurants, and more.

The success of 'DIFC Living' reflects Dubai's status as a global real estate hotspot, where luxury, sustainability, and modern living converge. As DIFC continues to make strides in the real estate market, the city solidifies its position as a top choice for those seeking a harmonious blend of urban living and financial excellence.

### Keen to invest?

If you’d like to invest in DIFC’s community, you could check out some of our [exciting listings](https://www.allsoppandallsopp.com/dubai/properties/residential/sales/in-areas-area-difc)! 

And if you’d like to know about DIFC Living, get in touch with our [Head of Developer Sales; Fintan Flannelly](https://wa.me/+971561159044).


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What’s DIFC’s newest launch and what can we expect? 

If you live in Dubai, you already know all anyone’s thinking about is investing in the thriving property market. 

So, if you’re one of them and considering investing, there's more to consider than just the property and its upfront cost.

Property owners in Dubai need to factor in service charges. What’s that, you might ask? Service charges are those which cover the maintenance and upkeep of common areas in residential buildings or communities. These charges are essential for keeping your property and surroundings in perfect shape, and finding out how much they are is now easier than ever, thanks to Dubai Land Department's (DLD) Service Charge Index. 

Yes, another online service making the lives of Dubai residents easier than ever. Here’s a step-by-step guide on how you could go about it! 

### What are service charges?

So, in case you didn’t know - Service charges are recurring fees that homeowners pay for the maintenance and upkeep of shared areas in Dubai's residential properties. 

These charges can vary based on the type of property, the range of services provided under the service contract, and usually cover expenses like security staff, cleaning, maintenance, landscaping, and other aspects of property management.

### Why are these charges important to be paid?

These charges contribute to the overall cost of owning a property and ensure a smooth operation, onboarding process and cleanliness of shared spaces.

### How can you check your service charges and pay them?

Dubai Land Department has launched a user-friendly tool, the Service Charge Index, which is accessible through their website or the 'Dubai REST' app. 

**Here's how you can use it:**

- Visit the DLD Website: Go to the DLD website's service charge index.
- Access the service: Click on 'Access this service' to get started.
- Choose your search method:

**1. By title deed number:** If you have selected the title deed option, you would have to have the certificate or title deed number on hand, enter it, along with the certificate issuance year, property type, and the year you want to inquire about. 

Complete the captcha verification and click 'calculate.' It will show you your service charge.

**2. By service fees indicator:** If you opt for the service fees indicator option, start by selecting the project name from the dropdown menu, choose the usage type (e.g., office, residential, retail), and specify the year you're inquiring about. 

Complete the captcha verification and click 'calculate.' You shall receive the calculations.

**3. Location map:** Selecting this option on the menu? You want to begin by verifying yourself, select the area where your property is located, choose the project name from the dropdown menu, specify the usage type, and the year you want to inquire about. 

Finish by clicking 'calculate.'

Review the details: Once you've completed the required steps, you'll receive information about the managing establishment for your property and a detailed breakdown of the service charge costs.

Dubai's Service Charge Index provides homeowners with transparency and streamlines the payment process, reducing potential disputes between property owners, developers, and management companies.

By understanding your property's service charges, you can budget effectively and ensure your investment remains in excellent condition. Love that, right?

### Keen to know more?

If you’d like to know more about this service, get in touch with our [Director of Property Management; Anisha Sagar](https://api.whatsapp.com/send/?phone=%2B971558984111&text&type=phone_number&app_absent=0)! 

Searching for your next investment in Dubai? Check out our [live listings](https://www.allsoppandallsopp.com/dubai/properties/residential/sales). 


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Simplifying real estate: How do you find the service charge for a property?

## Is now the magic moment to sell your home?

<iframe width="560" height="315" src="https://www.youtube.com/embed/d5f0SVJ0J2Y?si=J248J6HEoWBzsAit" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>

Join our Operations Director, Paul Kelly and Managing Director, Marc Walters as they unpick the mind-blowing data within our August Market Snapshot, revealing what it really means for you and why right now, could be the most magic time to consider selling. 

#ICYMI: Take a look at our August Market Snapshot [here](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1063-August-2023-Property-Market-Snapshot%0A).

## This week’s hottest headlines!:


### Viva la villa! Palm Jebel Ali drops their first set of properties

Dubai based developer, Nakheel has finally revealed the very first collection of villas set to go on sale  along the anticipated Palm Jebel Ali. The development will feature four fronds,  consisting of both coral and beach villas, each available in eight distinct styles.

Want to know more? [Continue reading…](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1068-Palm-Jebel-Ali-launches-the-first-set-of-luxurious-villas-)

Looking to expand your investment portfolio? Our [Head of Developer Sales, Fintan Flannelly](https://wa.me/+971561159044) can help

### No passport? No problem!

If you’re a frequent flyer with Emirates, travelling light just took on a whole new meaning. In the next few months Terminal 3 at Dubai International Airport is set to unveil smart facial scanner technology and biometric systems that don’t require the use of a passport! Pretty incredible right?

Want to read more about Emirates’ premium features? Take a look at our blog [here](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/887-Travel-in-style%3A-Emirates-announces-three-new-travel-destinations-for-Premium-Economy-travellers!-).


### Pedal power: RTA announces huge 819km span of cycling tracks

In line with Dubai’s 2040 Urban Master Plan to make Dubai a more green and sustainable city, RTA has announced construction plans to build 819 kilometres of cycling tracks around the city. This two-wheel takeover will encourage a healthier lifestyle amongst residents and help inspire a more sustainable lifestyle. Ride on!

Check out how you’ll be able to bike around Dubai [here](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1067-Dubai-announces-construction-plans-for-819-km-of-cycling-tracks!).

## HOT OFF THE PRESS!

### Arabian Business - Lewis Allsopp

Rents are rising and population in Dubai is booming but there is a vast undersupply of properties! What does this really mean for the Dubai property market? 

Take a [read](https://www.arabianbusiness.com/opinion/rental-rises-population-boom-supply-constraints-what-does-this-mean-for-dubais-real-estate-market) at what our CEO, Lewis Allsopp thinks about this! 

### Arabian Business - Lewis Allsopp & Fintan Flannelly

Dubai’s property market continues to perform exceptionally throughout August, with off-plan sales soaring to their highest since pre-pandemic levels.Our CEO, Lewis Allsopp and  Head of Developer Sales give us the inside scoop!

Read [here](https://www.arabianbusiness.com/industries/real-estate/dubais-off-plan-property-market-skyrockets-to-4-6bn-in-august-sales-surge). 

### Khaleej Times - Fintan Flannelly

With the off-plan market seeing sky-rocket sales, and new buyers flocking  to capitalise on investment opportunities, what does our Head of Developer Sales, Fintan Flannelly, have to say about the new projects coming into the market? 

Take a [read](https://www.khaleejtimes.com/business/realty/dubai-real-estate-market-booms-new-projects-gain-momentum-as-new-buyers-flock-in).

### Khaleej Times - Bobby Dhaliawal

The annual job shuffle! Is the September surge in Dubai a myth or reality?? Take a read as our Allsopp & Allsopp Recruitment Principle Consultant, Bobby Dhaliawal reveals all.. 

Check it [out](https://www.khaleejtimes.com/uae/uae-ever-heard-of-the-september-surge-why-75-of-employees-switch-jobs-countries-during-this-mont).

## Company Updates

### ICYMI: Ain’t no party like an Allsopp party!

To celebrate another incredible quarter, we threw a pool party for our whole business at the iconic Cove Beach in Caesers Palace. Do work socials get any better?

Check it out [here](https://www.instagram.com/reel/CxdF0CdJnsr/?utm_source=ig_web_copy_link&igshid=MzRlODBiNWFlZA==).

### The perfect family home doesn’t exis…

![a0O4S000000V3jOUAS_m_1G0A6082.jpg](https://strapiallsopp.s3.eu-west-1.amazonaws.com/a0_O4_S000000_V3j_OUAS_m_1_G0_A6082_758c17c0ec.jpg)

Yes it does! Come home to this stylish and furnished three-bedroom in The Springs, with gorgeous lake and park views- perfect for families looking for peaceful community living! 

Want to view it this weekend??

For sale: AED 4,300,000

Contact [Jack Bystram on +971502364229](https://api.whatsapp.com/send?phone=+97144295577&text=Hi%20There%2C%20%0A%0AI%20am%20interested%20in%20the%20listing%2C%20https://www.allsoppandallsopp.com/dubai/property/sales/dubai-L-193469%2C%20from%20your%20website.%20I%20would%20like%20to%20get%20more%20information%2C%20please.%20%0A%0ARef%3A%20L-193469%0A%0AThank%20you.)

Trakheesi Permit: 6914443800




Dubai's Weekly News Snapshot: The Ampersand 22-09-2023


Join our Operations Director, Paul Kelly and Managing Director, Marc Walters as they unpick the mind-blowing data within our August Market Snapshot, revealing what it really means for you and why right now, could be the most magic time to consider selling. 

Let's dive into the highlights of their conversation.

**Dubai's vibrant real estate market**

The podcast begins with a discussion about Dubai's current real estate market. Marc and Paul highlight the return of activity and how Dubai, as always, remains an attractive destination for people from all over the world.

**Diving into the August data**

They then dive straight into the August transaction data, comparing the volume of transactions in August to previous months and years. While Dubai's overall property market saw an increase in transactions, Allsopp & Allsopp experienced a 16.3% year-on-year decrease. Marc explains that this could be attributed to the time lag involved in real estate transactions, which can take several weeks or even months to complete.

**Off-plan transactions and launches**

Paul and Marc discuss the significance of off-plan transactions and property launches. They note that Dubai's developers are focusing on creating lifestyle-driven communities with top-end brands entering the market. While there are concerns about speculative sellers and overreliance on off-plan properties, they believe that the market is still undervalued.

**Is now the right time to sell your property?**

The conversation then addresses homeowners currently considering selling their properties. There’s no surefire way to predict the movements of the market, so it’s essential for homeowners to look carefully at their financial goals and comfort levels.

**What are the market dynamics?**

We then look at the various market dynamics, including the increase in tenant registrations and the continued rise of speculative sellers. The guys also highlight the lifeline of our DataHub, that provides valuable information on property transactions, valuations, and market trends.

**Diving into lettings**

In terms of lettings, we explore the increased demand for rental properties, which is reflected in rising rental prices. The hosts discuss the impact of tenants moving from rentals to homeownership and the resulting vacancies in the rental market.

**Viewings and new listings as per Allsopp & Allsopp data**

Lastly, Paul and Marc share statistics related to viewings and new property listings. They mention the steady increase in viewings, indicating a strong appetite for properties in Dubai. New listings to the rental market have also surged, possibly due to homeowners purchasing properties.

**Keen to know more?**

Tune in to Taking Care of Business, every Friday. 

#ICYMI: Take a look at our August Market Snapshot [here](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1063-August-2023-Property-Market-Snapshot%0A).



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Is now the magic moment to sell your home?

In today’s tech advancing world, data has become a valuable currency for many. Especially when it comes to the property market, we all know just how important data can be in making decisions. Whether you’re an investor, seller, tenant or buyer, we all know data transparency matters - the question is; why exactly?

Before we jump into all that, it's important to note that data transparency does two things for us. Firstly, it ensures everything we need is in front of us. Second, data transparency is the key to building trust, between us, our clients and the property market. 

Did you know that most companies that gather data do not utilise that data to its full capacity? By some estimates, 73% of company data goes unused for analytics. 

But not at Allsopp & Allsopp, as we know just how important data is for decisions in the property market! And if you are looking for exclusive insights into the market, check out [our Monthly Market Snapshot here](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1063-August-2023-Property-Market-Snapshot). But if you are just curious how much your neighbours pay for rent, check out [our exclusive Data Hub here](https://www.allsoppandallsopp.com/dubai/properties/property-data-hub/sales/in-areas-community-downtown%20dubai). 

So, let’s jump right into why data transparency matters!

### Data transparency builds trust!

As you already know, trust is the bedrock of any successful relationship, and this principle applies to data and the relationship between organisations and their customers. 

Data transparency works as the cornerstone of trust-building in the digital realm. When individuals have confidence the data shared with them is accurate and also provides them with better knowledge, they are more likely to trust you with their decisions.

### It strengthens accountability in data handling

Data transparency goes hand in hand with accountability. 

When organisations are open about their data practices, they are more likely to be accountable for how they collect, use, and share data. This accountability not only ensures compliance with data protection regulations but also sets a standard of ethical conduct.

### It fuels better, informed decision making

Imagine entering a store with no price tags on any of the items. Would you feel comfortable making a purchase? Probably not! 

The same principle applies to data transparency. When individuals understand what data is accessible to them and how they can utilise it to make better decisions it empowers and allows them to easily make confident and informed decisions. 

### Data transparency complies with legal requirements

Data transparency is not just a best practice when buying a home; it's a legal requirement in many places. 

For example; regulations like the GDPR (General Data Protection Regulation) in Europe emphasise the need for organisations to be transparent with their data as it can reinforce better decision making for their clients. 

### Data transparency works as a differentiator

In a competitive business landscape, data transparency can be a differentiator. 

Consumers are becoming increasingly concerned about data privacy, and they are more likely to engage with businesses that are open about their data practices. Demonstrating a commitment to transparency can attract more customers and partners, giving organisations a competitive advantage.

### It fuels easier negotiation power

When it comes to the property market, everyone wants their price. 

And with access to data, being able to know what others are paying in the same community gives you a sense of understanding for what people are willing to pay, which in turn fuels your negotiation power.

### Want to know more?

Curious to know more about data transparency in the property market? Take a look at [our guide to the importance of data in the property market](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1058-What-is-the-importance-of-Data-Transparency-in-the-property-market?).

Planning to invest in Dubai’s property market? Check out some of our [live listings](https://www.allsoppandallsopp.com/dubai/properties/residential/sales)! 


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Why does data transparency matter?

Purchasing a property is one of the most significant financial decisions you'll make in your lifetime. Especially if it is in the stunning and star-studded city of Dubai.

Whether you're buying a home for your family or making an investment in real estate, a key step in the process is studying the market thoroughly. Understanding the market dynamics, trends, and potential risks.

### Understanding financial valuations

Buying a property involves a substantial financial investment, so its always best to study before deciding to invest. 

A property investment goes beyond financial stability, mortgage commitments, and overall wealth. By studying the market, you also gain insights into property values, potential appreciation, and the stability of the housing market. This information empowers you to make a well-informed decision that aligns with your financial goals, and potential returns on investment. 

### Gaining insights into property valuations

Market research is important as it helps you determine the fair market value of a property. 

By comparing similar properties in the area or community, you can gauge whether the asking price is reasonable or overpriced. This knowledge enables you to negotiate effectively and avoid overpaying for a property.

Want to know how you can study the market thoroughly and negotiate a better asking price? Take a look at our [Allsopp & Allsopp Data Hub](https://www.allsoppandallsopp.com/dubai/properties/property-data-hub/sales/in-areas-community-downtown%20dubai).

### Analysing locations

"Location, location, location" it’s a mantra in real estate for a reason. 

Studying the market provides information about the neighbourhood, its amenities, schools, safety, and future development plans. We recommend following through as a thorough understanding of the location ensures that the property aligns with your lifestyle and long-term plans.

Understanding the different areas you are interested in can, eventually will help you understand the expected capital gains and ROI in that community. 

### Understanding seller trends

As an investor, it's important for you to study up on seller trends because what the current property value is in that specific neighbourhood, could always fluctuate. 

In today's unpredictable investment climate, it's not uncommon for a property's worth to fluctuate by as much as AED 10,000 to AED 15,000 in a single month. If you're contemplating buying a property, you could either gain or lose a substantial sum of money in a short span.

It's always best to understand the fluctuation trends and take the assistance of other real estate professionals. [Get in touch](https://www.allsoppandallsopp.com/) with our experts if you are looking to connect! 

### Calculate your risk mitigation

Real estate markets can be subject to fluctuations due to economic, political, or environmental factors. By studying the market, you can identify potential risks in advance and take measures to mitigate them. 

This might involve diversifying your real estate portfolio or waiting for a more favourable market condition.

### Ensure for long-term satisfaction

Studying the market ensures that your property purchase aligns with your long-term goals and expectations. It minimises the chances of regret or dissatisfaction down the road. A well-researched purchase is more likely to bring lasting satisfaction and meet your needs for years to come.

Furthermore, In the world of real estate, knowledge is power. Studying the market before buying a property is a crucial step that can have a profound impact on your financial well-being, investment success, and overall satisfaction with your purchase. 

Whether you're a first-time homebuyer or a seasoned investor, dedicating time and effort to market research is a wise and necessary investment in itself. It's the key to making informed decisions that will benefit you in the long run and ensure that your property purchase aligns with your goals and aspirations.

### Keen to know more?

If you’re keen to learn more, [take a read](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1058-What-is-the-importance-of-Data-Transparency-in-the-property-market?) on the importance of data transparency in the property market.

And if you are looking for investment opportunities in Dubai, why not take a look at our [live listings](https://www.allsoppandallsopp.com/dubai/properties/residential/sales)! 




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Why is it crucial to study the property market before investing?

In the ever evolving world of real estate, and the opulent city of Dubai, it comes as no surprise its a penchant for pushing the boundaries of architectural innovation. However, in recent years, a new trend has begun to emerge in Dubai's real estate landscape: sustainability. 

As the world grapples with environmental concerns and a growing awareness of the importance of sustainable living, Dubai seems to be joining the global movement towards eco-friendly and sustainable properties. The question on everyone's mind is: Are sustainable properties the future of successful real estate investments in Dubai?

Let us break it down!

## The green revolution in Dubai

**News flash:** Dubai has jumped on the global shift towards sustainable living. 

In fact, the city has taken significant steps to embrace sustainability in various aspects of life, including real estate. 

Here are some key reasons why sustainable properties are gaining traction in Dubai:

### 1. Government initiatives

The Dubai government has implemented a series of initiatives aimed at promoting sustainability. 

These initiatives include the Dubai Clean Energy Strategy 2050, which seeks to make Dubai a global hub for clean energy and green economy, and comes in line with the Dubai 2040 Urban Master Plan, which emphasises sustainable urban development.

### 2. Increased environmental awareness

With the rise of environmental awareness worldwide, Dubai residents and investors are increasingly looking for properties that have a reduced carbon footprint. 

Sustainable properties, with their energy-efficient features and eco-friendly designs, align perfectly with this growing demand.

### 3. Cost effective

Sustainable properties often come with energy-efficient technologies and designs that result in lower utility bills. Which is what everyone loves! 

Investors and homeowners appreciate the long-term cost savings that these properties offer, as well as making them financially attractive options.

### 4. High market demand

The demand for sustainable properties in Dubai is on the rise, as is demand for properties in general.

Developers are taking notice of this trend and incorporating sustainable features into their projects to meet the rising market demand. As a result, the supply of sustainable properties is growing steadily.

Currently many off-plan properties are underway to meet the market’s rising demand, including sustainable developments. 

**Want to know more about the upcoming sustainable developments in Dubai?**

Get in touch with our [Head of Developer Sales; Fintan Flannelly](https://wa.me/+971561159044). Or take a look at our current listings [here](https://www.allsoppandallsopp.com/dubai/buyers/off-plan).

## Why opting for sustainable developments is a better choice?

What sets sustainable properties in Dubai apart from conventional real estate? Here are some common features:

### They are energy efficient

Sustainable properties are designed to maximise energy efficiency. This includes features like solar panels, LED lighting, and energy-efficient appliances, all of which reduce electricity consumption and lower utility bills. Say goodbye to DEWA bills! 

### They enforce the usage of sustainable materials

Developers are increasingly using sustainable and eco-friendly materials in construction of sustainable properties to ensure they are in line with the 2040 Urban Master Plan to maintain a greener lifestyle.

Not only are these materials better for the environment but also contribute to healthier indoor air quality.

### Water conservation

Dubai is known for its arid climate, and so water conservation is crucial! 

Sustainable properties often incorporate water-saving fixtures, smart irrigation systems, and greywater recycling to meet in line with conservation.

### More green spaces!

Want to kick off a refreshing morning with a jog at the park? Or catch your breath with some relaxing yoga? With more sustainable developments popping up around town, and more nature reserves being created around Dubai, in line with the 2040 Urban Master Plan - we can expect so many more green spaces.

These not only enhance the aesthetic appeal but also provide a natural cooling effect, reducing the need for air conditioning.

## Why is it a great investment?

From an investment perspective, sustainable properties in Dubai offer several advantages:

### Stronger rental demand

Properties with smart features, built with sustainable materials tend to attract a larger pool of renters, as people often prefer living in newer developments with better features. 

For properties like that, tenants are willing to pay a premium, as such properties also promise lower utility bills and a reduced environmental impact.

### A higher potential for capital appreciation

As sustainability becomes more ingrained in Dubai's real estate market, sustainable properties may see higher appreciation rates compared to conventional properties. 

### Competitive advantage

Investors who own sustainable properties gain a competitive advantage in the market. 

They can differentiate their properties, attract environmentally conscious tenants, and potentially command higher rental rates. Even better, as these properties are relatively newer to what is currently in the market and are coming into a high demand market - the opportunities for returns are endless.

### Long-term viability

Sustainable properties are future-proof. They are more likely to comply with evolving environmental regulations, reducing the risk of costly retrofits down the line.

Dubai's foray into sustainable real estate is not just a passing trend; it's a response to global environmental challenges and market demand. 

While conventional luxury properties will always have their place in Dubai, sustainable properties are undoubtedly on the rise. They offer not only a more environmentally responsible way of living but also attractive investment opportunities.

## Found this guide interesting?

If this guide got you thinking about sustainable developments, [get in touch](https://www.allsoppandallsopp.com/) with our experts to find out how you can invest in sustainable properties in Dubai!

pjimage-4-2.jpg

Are sustainable properties the future of successful real estate investments?

For years, Dubai has broken record after record, and recently Palm Jebel Ali was the crown jewel to shine on the Arabian Gulf. 

After the successes of Palm Jumeirah, Dubai-based real estate developer Nakheel is unveiling a selection of luxurious villas available for purchase on the captivating Palm Jebel Ali island.

This unveiling comes on the heels of the recent release of a visionary masterplan by Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister, and Ruler of Dubai earlier this year.

### Take a glimpse into Palm Jebel Ali

The development of Palm Jebel Ali centres around four fronds, between two types of villas - the exquisite Coral Villas and Beach Villas, each available in eight distinct styles. 

Nakheel's vision for this project takes inspiration from the island's natural beauty, designed to harmoniously blend with the serene blue waters and pristine beaches that define Palm Jebel Ali.

The Chief Commercial Officer of Nakheel; Rasha Hasan, expressed their excitement, stating, _"As pioneers of waterfront living, Nakheel is synonymous with Dubai’s incredible journey of growth and urban infrastructure development. We are delighted to bring Palm Jebel Ali to the market at this exciting time, with the island playing a transformative role in shaping the city’s future, raising the global benchmark on waterfront living and underlining its position as a world-class lifestyle destination."_

### Palm Jebel Ali is a seamless blend of indoor and outdoor living

Leading international and regional architectural firms are working to create villas that seamlessly connect indoor and outdoor living in the Palm Jebel Ali. 

From creating floor-to-ceiling windows to offer panoramic views of private beaches, a soft and neutral palette, coupled with luxury finishes, and a tranquil atmosphere within the exclusive private frond neighbourhoods.

The development also places a strong emphasis on the well-being of its residents. Such as; walking tracks that have been thoughtfully designed for pedestrians and cyclists, providing convenient access to the beach through pocketed parks. The frond streetscape is adorned with lush greenery and comfortable resting spots, with ample shading provided by trees.

### The masterplan: What can you expect?

Palm Jebel Ali is set to span an impressive 13.4 square kilometres, and boasts the longest coastline in Dubai. Its strategic location within the city's future growth centre aligns perfectly with the Dubai 2040 Urban Master Plan and Dubai Economic Agenda D33, marking the commencement of a promising new growth corridor in the Jebel Ali area.

Upon completion, Palm Jebel Ali will comprise of seven islands and 16 fronds, offering a total of 91 kilometres of beachfront. The island will host over 80 hotels, resorts, and unique retail and dining experiences, promising a vibrant and dynamic lifestyle for its residents.

This visionary development not only enhances waterfront living and green spaces but also incorporates smart city technology to streamline transportation management. 

### Interesting isn’t it?

Are you planning to call this island your next home? 

Get in touch with our [Head of Developer Sales; Fintan Flannelly](https://wa.me/+971561159044).

Planning to invest in Palm Jumeirah? Check out our [live listings](https://www.allsoppandallsopp.com/dubai/properties/residential/sales/in-areas-area-palm-jumeirah). 

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Palm Jebel Ali launches the first set of luxurious villas 

Dubai is pedalling its way to becoming a bicycle-friendly metropolis with new plans for dedicated cycling tracks and new safety regulations. 

In a bid to enhance sustainable mobility and promote healthier lifestyles, Dubai's Roads and Transport Authority (RTA) has unveiled its construction progress on cycling paths going up to 819 km and introduced speed limits for cyclists.

### And here’s everything you need to know!

By 2026, RTA plans to build a set of tracks within the city that are interconnected by a sprawling network of over 800 kilometres. This cycling revolution is part of the city's commitment to providing eco-friendly transportation options and encouraging residents and visitors to embrace a healthier lifestyle.

### Pedalling progress: From Al Khawaneej to Mushrif

The RTA proudly announced that 90% of the construction for cycling tracks in Al Khawaneej and Mushrif have already been completed. 

These two districts are now connected by a 7-kilometre stretch of cycling tracks, adding to the existing 32 kilometres of tracks in the area, bringing the total to an impressive 39 kilometres.

The first track starts at the Quranic Garden and extends to the intersection with Al Khawaneej Street. The second cycling lane begins at Mushrif Park near the Crocodile Park, extending up north to the intersection with Al Khawaneej Street. 

### The masterplan - A city on two wheels

This ambitious cycling project is part of a broader master plan to connect key areas of the city with cycling tracks. The goal is to increase Dubai's total cycling track length from 544 kilometres to an impressive 819 kilometres by 2026. 

This expansion will ensure that popular coastal regions like Jumeirah, Al Sufouh, and the Marina are linked to external road tracks such as Al Qudra, Seih Al Salam, and Nad Al Sheba, connecting residents and visitors with more sustainable transportation options.

### Safety plans

In line with its commitment to safety, the RTA has set speed limits for cycling tracks to protect both cyclists and pedestrians. Here are the newly established speed limits:

Cycling tracks dedicated to amateurs and those shared with vehicles have a maximum limit of 30 km/h. This ensures safer roads and helps avoid accidents.

Dedicated or shared tracks with pedestrians in urban areas must not exceed 20 km/h. This lower limit is designed to enhance safety in areas where cyclists and pedestrians share the same space.

### Creating a bright future for cyclists in Dubai

The introduction of cycling tracks and speed limits aligns with Dubai's vision of becoming a bicycle-friendly city. 

Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors of the RTA, expressed the importance of this project. He stated that these initiatives are not just about cycling; they are about improving the overall quality of life in Dubai. 

The project aims to provide residents and visitors with sustainable mobility options and encourage the practice of sports and recreational activities. By embracing cycling as an alternative and sustainable means of transportation, Dubai is steering toward a greener and healthier future. 

### Impressive, isn’t it?

Keen to know more about Dubai’s upcoming plans and projects? Take a read [here](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1054-RTA-Revolution%3A-Nine-innovative-changes-to-ease-traffic-and-congestion-around-Dubai-).

And if you’re planning to call any of these cycling friendly communities home, check out our [live listings](https://www.allsoppandallsopp.com/dubai/properties/residential/lettings). 

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Dubai announces construction plans for 819 km of cycling tracks!

## What is the common success factor between the business of fitness and real estate?

<iframe width="560" height="315" src="https://www.youtube.com/embed/xgphp2Ny1ig?si=26L52yijHtjZA9rX" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>

On this week’s episode of Taking Care of Business, join COO; Carl Allsopp as he discovers the common denominator to success between business and fitness with the Co-founder of Boxica; Cyrus Rustom. Tune in to hear all about the business of fitness, what it takes to be successful in business, and the four commando principles! 

## The August Market Snapshot is LIVE!

Exciting news! Our August Property Market Snapshot is LIVE, which aims to provide a clear and insightful breakdown of the Dubai Real Estate Market.

Powered by Dubai Land Department’s Open Source Data and our own Allsopp & Allsopp data, this report is aimed for buyers, sellers, landlords, and tenants, and offers clear and easy-to-understand market analysis to assist you in understanding the Dubai Real Estate Market in 2023.

Click [here](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1063-August-2023-Property-Market-Snapshot) to check it out

## News that caught our attention this week:

### DIFC launches DIFC Living

The city’s finance and tech hub is welcoming its own residential and commercial offering known as DIFC Living, featuring 174 premium residences, restaurants and multiple commercial units.

Keen to know more about this project? Get in touch with our [Head of Developer Sales; Fintan Flannelly](https://api.whatsapp.com/send/?phone=%2B971561159044&text&type=phone_number&app_absent=0). 

### Rove Hotels announce their first branded residences in Dubai

Rove Hotels will be entering Dubai’s residential market with their newest instalment; Rove Homes. Set in Downtown Dubai, it will offer fully-furnished studios, 1, and 2-bedroom apartments, with smart home features and stunning amenities.

Keen to know more about this project? Get in touch with our [Head of Developer Sales; Fintan Flannelly](https://api.whatsapp.com/send/?phone=%2B971561159044&text&type=phone_number&app_absent=0). 

### A new hotel and branded residence is opening on Bluewaters Island

Say goodbye to Caesars Palace on Bluewaters Island, and say hello to Banyan Tree! Set to  feature 96 private residences, 179 rooms, and 30 suites, residents can expect their own mini rainforest, gym, indoor and outdoor yoga spaces, hydrotherapy pools and treatment rooms.

Check it out [here](https://www.timeoutdubai.com/news/caesars-palace-dubai-closing). 

Planning to invest there? Get in touch with [our team of experts](https://www.allsoppandallsopp.com/).

### Dubai recorded a 63% jump in residence visas issued

This week, it was announced that Dubai recorded a 63% rise in residence visas issued compared to last year, while Golden Visas shot up by 52%, visit visas went up by 34% and tourist visas rose by 21%. 

As Dubai continues to welcome more expats, turning into a haven - [Take a look](https://www.allsoppandallsopp.com/dubai/properties/residential/lettings) at some of the properties new residents are searching for! 

### RTA and Nakheel announce a major new bridge in Dubai

RTA announced that a new bridge would be developed to connect Bur Dubai to Dubai Islands. In partnership with Nakheel, they will construct direct entrances and exits with the bridge spanning 1,425m with four lanes in each direction to ease congestion.

Interested to read further? Click [here](https://www.arabianbusiness.com/industries/transport/rta-and-nakheel-announce-major-bur-dubai-to-dubai-islands-bridge).

## Company Updates

### Wake up to lakeside views within this exclusive four bed in Al Reem!

![a0O4S0000010GuhUAE_m_DSC04740.jpg](https://strapiallsopp.s3.eu-west-1.amazonaws.com/a0_O4_S0000010_Guh_UAE_m_DSC_04740_1e0b604e64.jpg)

Come home to this stunning four-bed in the heart of the Al Reem community.

This exclusive property features upgrades throughout and with a temperature controlled private pool that looks onto the beautiful lakeside.⁠
⁠
A must-see!⁠
⁠
For sale: AED 5,200,000⁠
[Kane Wild on +971562349851⁠](https://api.whatsapp.com/send?phone=+97144295577&text=Hi%20There%2C%20%0A%0AI%20am%20interested%20in%20the%20listing%2C%20https://www.allsoppandallsopp.com/dubai/property/sales/dubai-L-204096%2C%20from%20your%20website.%20I%20would%20like%20to%20get%20more%20information%2C%20please.%20%0A%0ARef%3A%20L-204096%0A%0AThank%20you.)
⁠
Trakheesi Permit: 6914808400⁠


Dubai's Weekly News Snapshot: The Ampersand 15-09-2023


In this week’s episode of the "Taking Care of Business" podcast, our COO; Carl Allsopp had an engaging conversation with his special guest, Cyrus Rustom, who’s the co-founder of Boxica. The episode was a dynamic exchange of ideas and experiences, shedding light on the remarkable journey of Boxica and its innovative approach to fitness.

### A passionate reunion and a business adventure

The podcast episode began with a warm welcome as Carl enthusiastically introduced Cyrus Rustom, emphasising the personal impact Cyrus had on his life over the past few months. This introduction set the stage for an insightful conversation filled with valuable business and life lessons.

### The intersection of sports and business

Carl and Cyrus delved into the significance of sports in the business world. They highlighted how qualities such as competition, discipline, disappointment, and consistency, which are integral to sports, can play a vital role in achieving success in any business endeavour.

### Boxica's inspiring journey

Cyrus shared the inspiring story of Boxica's inception. It all started when he left his previous business and embarked on a quest for a fresh concept. While in London, he gained inspiration from various fitness concepts, but it was his collaboration with Lee, his business partner, that directed his energy and passion towards creating something extraordinary.

Through extensive research in cities like New York and Amsterdam, they identified a trend centred around making boxing accessible to the masses. They sought to transform boxing from a male-dominated, intimidating environment into an inclusive and enjoyable experience for everyone. Despite the challenges posed by the pandemic, Boxica has grown exponentially, surpassing the million-dollar revenue mark and expanding to offer a wide range of fitness services.

### Building a thriving community

Carl praised Boxica for its unique ability to build a strong sense of community among its members. He explained how his wife, who had previously disliked exercise, became addicted to Boxica's inclusive and friendly environment. The discussion emphasised the magical quality of fostering a sense of belonging and camaraderie within a fitness community.

### Overcoming challenges and taking risks

Cyrus shared the challenges Boxica faced, especially during the initial stages of the COVID-19 pandemic. Despite the uncertainty and fear, they persevered and expanded their offerings, taking calculated risks to open new units and adapt to changing circumstances. Their journey underscored the importance of strategic decision-making and adaptability in the face of adversity.

### From commando to entrepreneur

The podcast also touched on Cyrus's personal journey, from being a Royal Marines commando to becoming an entrepreneur in Dubai. His transition highlighted the power of determination and the pursuit of dreams, even in the face of daunting challenges. The story illustrated how unexpected life events can lead individuals down unexpected but ultimately fulfilling paths.

### The move to Dubai: Running towards success!

Carl and Cyrus discussed the common theme of people moving to Dubai either to escape something in their home countries or to chase new opportunities. The conversation delved into the personal motivations behind such decisions and the transformative experiences that often result from them.

### Choosing the right location

The hosts explored the importance of location in the success of a fitness business. Cyrus emphasised the significance of proximity to where people live and ensuring accessible parking facilities as key factors in choosing Boxica's Studio City location. He discussed how selecting the right location was crucial in building a thriving fitness community.

### Engaging with the community

The conversation also highlighted the value of word-of-mouth marketing and genuine relationships with customers in building a fitness community. Cyrus and Carl emphasised the role of strong customer relationships in enhancing business success.

### Summer Shred and mental discipline

Cyrus introduced the Summer Shred program, designed to help individuals lose fat and achieve their fitness goals. He emphasised the importance of mental discipline and consistency in achieving lasting results. Carl shared his personal experience with the program and how it helped him not only physically but also mentally.

### The commando qualities in business

The podcast concluded with a discussion of the four commando qualities that Cyrus learned during his time in the Royal Marines: courage, determination, unselfishness, and cheerfulness in adversity. These qualities were paralleled with the skills and mindset required for success in the world of business, highlighting the valuable lessons Cyrus brought from his military background.

Tune in to the podcast [here](https://www.youtube.com/watch?v=xgphp2Ny1ig&list=PLf4jDvQ7iiLLPSDjQWuBd8BLM-cQqBLy_&index=1).


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What is the common success factor between the business of fitness and real estate?

## Welcome to the Allsopp & Allsopp August 2023 Dubai Property Market Snapshot, a comprehensive look into how the Dubai property market performed over the last month.
<br/>

Dubai's real estate market has seen impressive growth, with the Dubai Land Department reporting sales transactions over AED 33 Billion in August, marking a 36% increase year-over-year. Off-plan sales constituted 58% of market volume, signifying a growth in new projects. Could this be Dubai racing to meet market demand? Cash transactions still remain king, with the majority of transactions happening in this segment. Despite headlines on ultra luxury sales filling up news feeds weekly, the majority of transactions remain within AED 2M to AED 3M range.
<br/>


Allsopp & Allsopp saw an average sales price of AED3.2M which is a 52% increase when compared to the same period last year. Amidst the German real estate crisis, German nationals accounted for 6% of sales at Allsopp & Allsopp, though UK nationals still remained top at 22%. Villas/townhouses witnessed a significant price rise of 55% year on year, with Al Barari and Jumeirah Golf Estates emerging as top transaction locations. Dubai Marina was the hotspot for apartment transactions, predominantly by Indian nationals, and the average apartment sales price has increased by 29% year on year. 
<br/>

Rental prices saw a notable 31% increase in transaction volume. UK tenants remained at the top for Allsopp & Allsopp followed by Russians and Indians. The apartment sector witnessed a significant 21% year on year rise in average rent with Downtown Dubai standing out. To ensure affordability, there has been a trend shift in payment methods; fewer tenants are opting for single or two-cheque payments, while three and four-plus cheque payments have gained popularity.

Click below to view the report: 

<br/>
<a target="_blank" href=https://strapiallsopp.s3.eu-west-1.amazonaws.com/August_2023_Real_Estate_Market_Snapshot_94f137e262.pdf?updated_at=2023-09-13T10:50:22.186Z" style="text-decoration: none!important;"><button class="subscribe mx-auto" style="color:#fff !important;display:flex;"><span style="color:#fff !important;">View the report here</span> </button></a> 
<br/>

<br/>

For media enquiries and interview opportunities:

**Aline Pereira** 
Head of PR and Comms

Allsopp & Allsopp

E: Aline@allsoppandallsopp.com

T: 052 283 3285



Website Image - August.jpg

August 2023 Property Market Snapshot


Licence just expired? 

### Did you know you could easily renew your licence through the RTA application?

Thanks to smart government initiatives that streamline the process, renewing your licence is cake now. In fact, it can take as little as 10 minutes to complete, with most of the steps being accessible online. The only exception is the eye test, which you can easily arrange at a registered optician's shop. In this step-by-step guide, we'll walk you through the process, ensuring you're back on the road hassle-free.

### Step 1: Get an eye test!

Before renewing your licence, you'll need a valid eye test. Head to any optical shop registered with Dubai's Roads and Transport Authority (RTA) for this. Remember to bring:

- Your original UAE driving licence.
- Your original Emirates ID.

If you don't have the original documents, check if the shop accepts digital versions. You can add a digital driving licence to your Apple Wallet and access the digital version of your Emirates ID. The cost typically ranges from AED 140 to AED 180, depending on the service provider.

Once you've completed the eye test and paid the fee, the optical specialist will update your test results in the RTA system. You'll receive an SMS on your registered mobile number, confirming that the eye test is uploaded, and you can proceed to renew your licence.

### Step 2: Clear all your outstanding fines

Ensure all your traffic fines are settled before proceeding with the renewal. You can pay your traffic fines online through the RTA or Dubai Police application, making it a straightforward process.

### Step 3: Apply for renewal

You have multiple options for renewing your licence in Dubai:

### 1. RTA website (rta.ae)

- Visit the RTA website and click on 'Driver and Car Owner' in the top menu.
- Under the License tab, select 'Apply for renewing a driving licence.'
- Enter your details, including Emirates ID, driving licence, number plate, traffic code, and RTA account.
- If you don't have an RTA account, follow the steps to create one. - Download the RTA Dubai app, tap 'Login/Register,' and use UAE Pass for login.
- Verify your details and create a username and password.
- Enter the OTP sent to your mobile number via SMS.
- Select your preferred delivery method (kiosk, collection, courier, or eDocument) and pay the fees.

### 2. RTA's application ('RTA Dubai')

If you prefer the app, ensure your digital accounts (UAE Pass and RTA account) are set up. The renewal process is quick, and you'll receive the new digital licence on your phone instantly, with the option to get the physical copy delivered or collect it from a kiosk.

### 3. RTA centre or kiosk

Visiting an RTA customer service centre or kiosk is another easy way to renew your licence and receive the physical copy on the spot.

### Step 4: Receive/collect your new licence

If you choose digital options, you'll receive the digital licence immediately. For a physical copy, you have these options:

- Get it couriered (additional service charges apply).
- Collect it from a customer service centre.
- Print it through a smart kiosk.
- Opt for the method that suits you best, and you'll be back on the road with your renewed driving licence in no time. Dubai's smart initiatives have truly made the renewal process hassle-free and efficient.

### Found this guide helpful?

If you are looking for more guides around Dubai, take a look at [our blogs on our website](https://www.allsoppandallsopp.com/)!

But if you’re planning to move and are searching for the perfect home - [check out some of our convenient locations around town](https://www.allsoppandallsopp.com/dubai/properties/residential/lettings)!



Dubai-Golden-Chance-driving-license-test.jpg

Dubai unveiled: How can you renew your UAE driving licence?

The UAE has long been a global hub for prosperity and economic growth. 

A recent report from the Boston Consulting Group sheds light on the UAE’s anticipated financial growth, with a projected Compound Annual Growth Rate (CAGR) of 5.5% in new wealth. 

The report projects growth by 2027, and suggests that the UAE's wealth is set to surge from $1 trillion to $1.3 trillion, by the 'Global Wealth Report 2023: Resetting the Course.'

So, here’s everything we know!

### The report states the diverse landscape of wealth in the UAE.

In 2022, equities and investment funds reigned supreme, as they constituted a significant 58% of total personal wealth. However, bonds are forecasted to witness the most rapid growth, boasting an impressive CAGR of 8.4% from 2022 to 2027. 

Furthermore, life insurance and pensions are anticipated to evolve into the third-largest asset class by 2027. BCG's Managing Director and Partner, Mohammad Khan, attributes this substantial growth to the UAE's compelling value proposition for high-net-worth individuals (HNWIs). 

### The influence of ultra-high net worth individuals (UHNWIs)

The report also explores the monumental contribution of Ultra-High Net Worth (UHNW) individuals, those with assets exceeding $100 million, in different sectors including real estate, stocks and more.

In 2022, these elite wealth holders accounted for approximately 25% of the UAE's financial wealth, a trend set to continue until 2027. Meanwhile, individuals with wealth ranging from $1 million to $20 million held 32% of the UAE's wealth in 2022 which is projected to increase to 34% by 2027.

### Balanced growth in assets and liabilities

The UAE's real assets and liabilities experienced a robust growth, expanding by 7.5% annually from 2017 to 2022, which brought it up to a substantial $1.9 trillion. 

Based on this data, projections indicate that these assets will continue their upward momentum, increasing by 6.9% per year, ultimately reaching the $2.6 trillion mark by 2027.

### Revolutionising wealth management

The report also dives into wealth management, offering eight key initiatives to attain sustainable profitability in the sector. These encompass scalable client acquisition, the introduction of private-market offerings, a focus on fixed-income products, and the integration of generative artificial intelligence (GenAI) in financial advisory services.

On the cost-efficiency front, the report advocates strategies such as end-to-end (E2E) process reviews, informed shoring decisions, utilisation of third-party tech solutions, and simplifying products and services to streamline operations and cater to diverse client needs.

### How impressive!

Are you keen to call this global economic hub your next home? 

Take a look at some of our exciting [live listings](https://www.allsoppandallsopp.com/dubai/properties/residential/lettings)! And if you’re unsure about how much people are paying for homes in Dubai, don’t forget to check out our [Data Hub](https://www.allsoppandallsopp.com/dubai/properties/property-data-hub/sales/in-areas-community-downtown%20dubai). 



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UAE's soaring wealth: A glance at the $1.3 trillion projection by 2027

Dubai, a city known for its unwavering commitment to innovation and progress, is once again making waves on the global stage.

This time around it is with the ambitious Marine Transport Master Plan 2030. Recently approved by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai. This visionary plan outlines a remarkable transformation of Dubai's marine transport system over the next decade.

### Unveiling what’s behind the masterplan!

The Marine Transport Master Plan 2030 is nothing short of groundbreaking. 

It encompasses a 188% expansion of the marine transport network, which is a  fourfold increase in passenger lines, and an innovation that's set to make history: known as the world's first electric abra, manufactured using cutting-edge 3D printing technology. 

This comes in line with the 2040 master plan as it represents Dubai's relentless pursuit for marine transport that is efficient, eco-friendly, and seamlessly integrated into daily life.

### A quantum leap in numbers!

One of the most ambitious goals of this master plan is to expect a surge in numbers of 51.  A 51% rise in passengers onboarding Dubai’s marine transport system, which will soar from the current numbers of 14.7 million to a remarkable 22.2 million annually by 2030. 

### Expanding horizons: Longer routes and more stations

As you know, this plan will see a 188% increase in the total length of the marine transport network, stretching it from 55 kilometres to an extensive 158 kilometres. 

To accommodate this expansion, the number of marine transport stations will see a significant uptick, rising from 48 stations currently to 79 stations along various waterways and waterfront projects. 

### The game changer: A 3-D printed abra!

Now for the groundbreaking aspect of this plan is the introduction of the world's first electric abra! Yes, a 3-D printed abra.

Crafted using state-of-the-art 3-D printing technology and designed to carry up to 20 passengers, this marvel is not only a triumph of engineering but also a tribute to Dubai's heritage, seamlessly blending tradition with innovation. 

Furthermore, the utilisation of 3-D printing reduces manufacturing time by a remarkable 90%, while cost savings of up to 30% which also ensures economic efficiency.

### A strong focus on marine maintenance

This marine master plan also places a strong emphasis on the maintenance and upkeep of marine transport. 

Dubai's Al Garhoud RTA Marine Maintenance Centre has been in line with reducing maintenance costs by about 50%. This facility has significantly enhanced the operational readiness of marine transport, ensuring safety and quality standards are met for both government and private entities.

### The road to sustainability

This master plan is not just about expansion and innovation; it's about embracing a more sustainable future. 

The autonomous electric abra, with zero carbon emissions and reduced operational and maintenance costs, is a testament to Dubai's commitment to environmental responsibility.

### Impressive, isn’t it?

Keen to call the city of the future your home? Check out some of our [live listings](https://www.allsoppandallsopp.com/dubai/properties/residential/lettings)!

But if you are curious to know how much people are paying to live in Dubai - Take a look at our [Data Hub](https://www.allsoppandallsopp.com/dubai/properties/property-data-hub/sales/in-areas-community-downtown%20dubai).

abra-dubai-Cover-03-06.jpg

RTA unveils a major marine transport masterplan 

Dubai's real estate market has been a magnet for investors worldwide, and it's no surprise why. 

With its dynamic economy, futuristic cityscape, and investor-friendly policies, Dubai offers numerous advantages for those considering real estate investments. Whether you're a seasoned investor or a newcomer to the market, here are six compelling benefits of investing in Dubai real estate.

### High rental yields:

Dubai consistently ranks as one of the top cities globally for rental yields. 

The city's booming tourism industry and the influx of expatriates create a strong demand for rental properties. Investors can enjoy impressive returns on investment through rental income, especially in sought-after areas like Dubai Marina, Downtown Dubai, and Emirates Living.

Check out some of our [live listings](https://www.allsoppandallsopp.com/dubai/properties/residential/sales) in these areas!

### Tax efficiency:

Dubai's tax-free living is remarkably favourable for investors. 

There is no income tax on rental income, capital gains, or inheritance. This tax-free environment allows investors to maximise their returns, making Dubai an attractive destination for international investors!

### Stable economy:

Dubai boasts a diverse and resilient economy. 

It serves as a global hub for trade, finance, and tourism, which comes as no surprise! The government's commitment to economic diversification ensures a stable investment environment and this stability is further bolstered by a strong legal framework and transparent property laws.

### An ideal geographic location for investors!

Situated at the crossroads of Europe, Asia, and Africa, Dubai is a strategic location for real estate investment. 

The city's connectivity through world-class airports and seaports makes it an ideal destination for business and tourism. Also, proximity to emerging markets provides opportunities for international investors.

### Growing tourism sector and population:

Dubai's tourism sector continues to expand, drawing millions of visitors annually. The demand for short-term rentals and holiday homes is on the rise. Investors can capitalise on this trend by investing in properties that cater to tourists, such as furnished apartments and vacation villas.

### Futuristic infrastructure:

Dubai is renowned for its innovative infrastructure projects. From the Palm Jumeirah to the Dubai Canal, the city continually invests in projects that enhance livability and attract investors. The upcoming Expo 2020 is expected to drive further growth in the real estate market.

### Convinced?

If you are set to invest in Dubai’s property market, [get in touch](https://www.allsoppandallsopp.com/) with our team of experts.

Want to know how much you could be paying for the different communities in Dubai? Take a look at our [Data Hub](https://www.allsoppandallsopp.com/dubai/properties/property-data-hub/sales/in-areas-community-downtown%20dubai)!

Dubai-Wallpapers.jpg

What are the top six benefits of investing in Dubai’s real estate market?

In today’s world, especially if you are in Dubai, a common trend across all paths is that individuals are now investing in Dubai’s property market. From its stellar range of properties, waterfront living in the luxury capital of the world and exceptional return on investment - there is no doubt people are chasing a life here and investing in the property market. 

**One thing they are all looking for?**

**Transparency.** Everyone is searching for a clear look into the property market before taking a leap. And in this world and time, information is definitely power! Whether you're a buyer, seller, investor, or a real estate professional, access to accurate and transparent data is essential. Data transparency is more than just a buzzword; it's a game-changer that can significantly impact the way real estate transactions are conducted.

**A solution!**

At Allsopp & Allsopp, we launched our very own Data Hub, where buyers, sellers, tenants and investors can get a rather clear picture of the properties being sold or leased in the market, in the different areas and communities, with their prices. This helps them understand how each area is performing and what prices one can expect.

Check out our **Data Hub** [here](https://www.allsoppandallsopp.com/dubai/properties/property-data-hub/sales/in-areas-community-downtown%20dubai)!

### Why is Data Transparency important?

Data transparency helps buyers and investors understand the market better, what communities are performing well and helps to make informed decisions. 

Having access to comprehensive data on property prices, market trends, and historical data also allows potential buyers to gauge the fair market value of a property. This helps prevent overpaying and ensures that buyers make sound investments. Furthermore, most buyers and investors are chasing for a better return on their investment, and knowing the market can ease their process. 

Allsopp & Allsopp’s Monthly Property Market Snapshot definitely helps potential buyers, tenants, investors and sellers how the market is performing with easy-to-understand analysis and insights. 

Take a look at our last month’s property market report [here](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1017-July-2023-Property-Market-Snapshot).

### How does Data Transparency in the market help clients with their property purchase/lease?

Clients are always searching for a better deal, a better insight that’s more in depth into their purchase or lease - this goes beyond the perfect home with the idealistic views, but rather if the mortgage is feasible and if the property offers a higher return on investment. 

Here are some reasons how Data Transparency in the market can help clients with their purchase/lease:

### Better market efficiency

Easy access to data foster's market efficiency. 

When buyers and sellers have access to the same information, it reduces information asymmetry, where one party has more knowledge than the other. This leads to a more balanced and competitive marketplace, where properties are priced more accurately, and buyers are better equipped to understand if they can proceed with a sale in the chosen area.

### It builds a sense of trust and credibility

Real estate transactions involve substantial investments, and the most important thing is to make trust a critical factor. You have to be able to trust your realtor, your seller or buyer, and yourself when going ahead with a deal. 

Transparent data builds trust and credibility in the property market. When real estate professionals provide clients with accurate data, it enhances their reputation, and fosters trust between all parties involved. This helps the client feel more comfortable with their decision and helps them understand all the pros and cons.

### Risk is mitigated

Data transparency helps mitigate risks associated with property investments. This is because buyers can assess property histories, including any legal or financial issues. 

This information allows them to identify potential risks and make better informed decisions. Agents can also advise clients more effectively when they are armed with comprehensive data, such as market reports, and in depth lists of transactions around the area. 

### It improves market dynamics

Easy access to data enhances market dynamics by reducing price manipulation and speculation. 

It discourages unethical practices such as false property listings or artificially inflating prices. A transparent market attracts more genuine buyers and sellers, leading to smoother transactions. Better yet, even assists with negotiations and getting better price points. 

If it's negotiations you are looking to understand the property market with, then check out our [Data Hub](https://www.allsoppandallsopp.com/dubai/properties/property-data-hub/sales/in-areas-community-downtown%20dubai)! 

### Found this guide helpful?

If this guide helped you understand better about data transparency and its importance in Dubai’s property market, then don’t forget to take a look at our blog on Data Hub [here](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/893-Allsopp-&-Allsopp-launches-a-comparable-data-insight-for-all-listings).

And if you are looking for an expert to help you find your next home or investment in Dubai’s property market, then [get in touch with our experts](https://www.allsoppandallsopp.com/). 


Keeping you up to date with everything that is happening in the Dubai property market.