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Dubai's Weekly News Snapshot: The Ampersand 18-08-2023
A hot July for the Dubai real estate market The Market Snapshot out now!
This week on Taking Care of Business, Operations Director Paul Kelly is joined by Recruitment Director Kameron Hutchinson to discuss how the month of July performed. They discuss how pricing performed, the extra nationalities joining Allsopp & Allsopp’s top 5 best performing and other trends observed in the report. The July Property Market Snapshot is out now.
ICYMI: Allsopp & Allsopp’s July 2023 Market Snapshot
Allsopp & Allsopp’s July market snapshot is LIVE!
Check out the report and take away what you need to know about the Dubai property market performance during July, including market data from the Dubai Land Department (DLD) and customer insights from Allsopp & Allsopp first-party sources.
News that caught our attention this week:
Dubai Registers $762 million worth of sales deals on Monday the 14th!
Dubai's real estate market witnessed a surge on August 14th, registering property deals of over $762 million. DLD highlighted 717 sales involving properties valued at AED2.09 billion, alongside 131 mortgage transactions amounting to AED 692.02 million. These transactions predominantly included the sale of 687 villas and apartments and 30 land plots.
Dubai’s inflation slowed in July!
In July, Dubai's annual inflation rate witnessed a decline to 1.02%, its lowest since November 2021, down from June's 2.05%. This drop is primarily attributed to significant reductions in transport costs, despite a 6.1% year-on-year increase in housing prices, as highlighted by the Dubai Statistics Centre. On the global stage, Dubai's economy experienced a 2.8% annual growth in Q1 2023, amounting to Dh111.3 billion ($30.3 billion).
Dubai International Airport gears up to welcome 3 million travellers..
The world’s largest international airport is soon set to become the world’s busiest too, as with summer vacations coming to an end, Dubai International Airport is set to welcome 3 million travellers.
The airport averages 258,000 visitors on a daily basis, but with a new wave of residents moving to Dubai, its numbers have grown tenfold!
Read more here! RTA announces free digital parking permits:
Dubai's Roads and Transport Authority (RTA) is embracing digital innovation by launching new digital parking permits.
This move will make parking permits easily accessible to senior Emiratis and individuals of determination. Starting August 20th, it will allow users to register up to five vehicles under each permit.
Company Updates
Live the millionaire dream in Dubai’s real estate market with Allsopp & Allsopp
We are thrilled to announce that our recruitment events are back and are set to unfold across the United Kingdom. As the sun sets on summer, our team is on the lookout for the next wave of aspiring millionaires to join our dynamic family. Know someone back home who would like to attend the recruitment event? Share the following locations, dates, and times:
London: Hilton Paddington, 146 Praed St, London W2 1EE
Monday 4th September, 5pm - 8pm
Birmingham: The Cube Hotel, Wharfside St, Birmingham B1 1RS
Tuesday 5th September, 5pm - 8pm
Manchester (2 Nights): The Edwardian Manchester, Free Trade Hall, Peter St, Manchester M2 5GP
Wednesday & Thursday 6th - 7th September, 5pm - 8pm
Newcastle: The Crowne Plaza Stephenson Quarter, Hawthorn Sq, Forth St, Newcastle upon Tyne NE1 3SA
Friday 8th September, 4pm - 8pm