The Ampersand 03-02-2023

Mortgage Special: US Fed rates release - What does that mean for Dubai’s Real Estate Market?

On this week’s episode of Taking Care of Business our COO, Carl Allsopp is joined by our Head of Mortgage Services, Stuart Roe, to discuss all things mortgages in Dubai. With the rise of the Fed Rates, Stuart shares his perceptions on the current market, while Carl discusses the surge of property demand. We also took to Instagram to ask our followers their burning mortgage questions and picked some most commonly asked to answer live on the pod.

Tune in to catch all this and more on Taking Care of Business.

Incase you missed it, property transactions see a 70% surge!

Following a remarkable year, the real estate market in Dubai shows no signs of slowing down as property sales transactions have experienced a significant 70% increase year-over-year.

Standing at 9.8k transactions valuing up to AED 28 billion, the market is expected to continue surging. The top five locations for increased demand in January 2023 are Business Bay, Jumeirah Village Circle, Dubai Marina, Dubai Creek Harbour and Damac Hills!

And stay tuned as Allsopp & Allsopp’s monthly sales report is set to come out next week and its one, you do not want to miss!

Source: Dubai Land Department

News that caught our attention this week:

Ready to run loops? Dubai reveals plans for climate controlled highway

Yup, you read that correctly. In 2024, you will be able to walk, cycle and run through a 93km indoor, climate-controlled dome spanning across the city. And here’s the kicker, the new highway aims to connect over 3 million residents inspiring them to use healthier and more sustainable modes of transport, whilst also providing easy access to key services and locations.

Scheduled to complete in 2024, this world-friendly wonder will most definitely turn heads. Here’s everything in a nutshell:

1. 93 kilometres
2. 100% renewable energy using kinetic power
3. Zero emission transport system
4. 100% recycled water for irrigation
5. Additional amenities for residents such as [insert here]
6. Promotes health and wellbeing
7. Vertical farms for food security

Interested to know more? Read here.

Source: Arabian Business

Fly high in the sky across the Palm Jumeirah

See the world from a new perspective in Dubai’s newest attraction - The Dubai Balloon. A unique aerial experience launching across Atlantis, at the Palm Jumeirah.

Get ready to soar 300m up into the air to take in the breathtaking views of the city’s skyline It gets better; the aerial wonder is available for private charter too!

Read more on ticket prices and bookings, here

Source: Time Out Dubai

New family law comes into effect for non-Muslim expats

Legal procedures following Abu Dhabi’s family court will now allow non-Muslim expats and families to follow the non-Sharia process for legal proceedings. This includes express marriages, which means couples of mixed faith can now obtain a marriage license within 24 hours, similar to Las Vegas’ express marriage process.

With this change, officials want to ensure the law provides for all residents, regardless of faith or background and these changes will apply to divorce, joint custody, inheritance and will too.

Read more here.

Source: The National.

Company Updates

A huge congratulations to our newest senior property consultant, Issa Kapadia!

Issa has been with Allsopp & Allsopp for just over a year, and in that short-time, he’s most certainly managed to make a markin our developers sales team! He’s a great example of where hard work and commitment can get you.

We’re proud of him and can’t wait to see what the future has in store

Stunning six-bedroom house with top-notch features located in Jumeirah Golf Estates!

Are you seeking a life of luxury within Dubai’s most sought-after community? Search no further than this stunning six-bedroom in Redwood Avenue with premium fittings, a state-of-the-art fully equipped gym, cinema room and basement bar!

What more could we need?

Get in touch with Rob Kempton today!