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Weekly Newsletter 11.4.22
As we close off the first half of 2024, Dubai’s property market has shown impressive growth across all residential sectors with no signs of slowing down.
As we reach the half way point of the holy month of Ramadan we can see that the real estate market has shown no signs of slowing down!
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Just another manic Monday for Dubai real estate transactions
408 million dollars worth of transactions were recorded by the Dubai Land Department on Monday and 2,012 transactions were recorded for the first week of Ramadan which equated to 1.4 billion dollars!
Source: Arabian Business
24,600 business licenses were issued in Dubai
Dubai has recorded a 58% rise in new business licenses in Q1 2022 when compared to Q1 2021. In times when countries and cities all across the globe are still heavily focused on their recovery from the Covid-19 pandemic, the UAE is striving for better.
100% ownership of foreign businesses, new legislation that was introduced in 2021, is being utilised by an array of start-up companies which will have a very positive effect on Dubai's economy and real estate sector. The more businesses that start-up in the emirate, the more talent there is who is looking for, not only places to live but offices to build their new businesses in.
Supply - demand imbalance
Matt Gregory from houza explains the lack of supply in luxury high-end properties in Dubai. According to Reidin Data Analytics, March was the second-highest month on record for transactions over AED 10mn with 199 transactions. The previous record high was in October 2015.
Source: Arabian Business
Dubai Land Department makes all real estate data public!
The Dubai Land Department making all real estate data publicly available is a game changer for the real estate market and one that is welcomed with open arms. The more information sellers, buyers, landlords and tenants have about the real estate choices they make, the better.
Full transparency will make choices easier and quicker and educate sellers and landlords on realistic market prices and increases trust in the market, for both local and foreign investors alike.
Source: Arabian Business
Noon launches 15 minute delivery service
Noon has certainly delivered with this new service! Even one hour delivery services were a little too long to bear so Noon has come to the rescue! Oh Dubai, we love you!
https://whatson.ae/2022/04/uae-is-the-travel-industrys-most-recovered-country-in-the-world/
Source: Whats On