When it comes to setting standards, there is no country that does it like the UAE. 

With spending projected at an impressive AED 71.5 billion, the UAE continues to reinforce its commitment to supporting key sectors, boosting the economy, and maintaining a balanced fiscal approach.

Let’s break these down…

## The balanced approach

The 2025 budget that has been set out reflects both ambition and caution. The Union General Budget Plan is projecting a revenue of AED 71.5 billion, matching the planned spending to keep income and expenses balanced - these include real estate, fintech, new business expansion and more. 

This is part of the government’s 2022-2026 financial strategy, aiming for sustainable growth while staying financially responsible.

## The economic growth of the UAE

The UAE’s economy has been strong following the pandemic, and this new budget signals it will add continued confidence in that growth. 

The country’s GDP expanded by 3.4% in Q1 2024, and experts predict an even stronger growth for 2025. This is largely driven by the non-oil sector, which continues to be a major focus for diversification. 

Efforts such as allowing 100% foreign ownership of properties and businesses and ongoing tax reforms have played a crucial role in attracting global investors, setting the non-oil sector on a steady path of growth at 5.3% for 2025.

## Where is the fiscal investment going?

The bulk of the budget (about AED 27.86 billion) will be directed towards social development and pensions. This sector, which includes public and higher education, healthcare, social services, and pensions, reflects the government’s commitment to improving the quality of life for its citizens. 

More than AED 10 billion has been allocated specifically for public and higher education, while healthcare will see over AED 5.7 billion in funding. 

In addition to social development, AED 25.57 billion will be allocated to government affairs, while the infrastructure and economic affairs sector is set to receive AED 2.58 billion. These investments are essential for maintaining the UAE’s infrastructure and supporting ongoing economic projects.

## The larger impact on the economy

This federal budget is only a portion of the total governmental spending across the UAE. The individual Emirates, such as Dubai and Sharjah, also manage their own budgets, each of which is similarly breaking records. 

Dubai’s total spending for the 2024-2026 fiscal cycle is estimated at AED 246.6 billion, with AED 79.1 billion allocated for 2024 alone. Sharjah too, approved its largest budget ever for 2024 at AED 40.83 billion.

According to experts, the 2025 budget signals an 11.5% increase compared to 2024, equivalent to 2.4% of the GDP next year.

## What does this mean for the UAE property market?

This record-breaking budget approval is going to have a positive impact on the UAE property market.

As the UAE continues to focus on improving the economy and attracting foreign investments, we can expect to see increased demand for residential and commercial properties. The expansion of public services, education, and healthcare will also make the country an even more attractive destination for expats and investors alike, driving further growth in the property sector.

This in turn, will result in higher demand for real estate investments across the Emirates, creating a ripple effect that benefits the entire property market.

Thinking about capitalising on Dubai’s growing market - you could [get in touch with our in-house experts](https://wa.me/97144294444) or take a look at our [live listings](https://www.allsoppandallsopp.com/dubai/properties/residential/sales). 


All-about-Dubai-Land-Department-_-Cover-24-2-23.jpg

The UAE Cabinet approves the largest fiscal federal budget for 2025! 

Another day, another launch! 

With so many people looking for homes in Dubai, it seems that with each day passing a new developer is announcing their next exciting project. 

Amaal Developments has launched its first development - Amaal 8 in the heart of Mohammed bin Rashid City. 

## Say hello to Amaal Developments

Amaal is a company co-founded by former Emaar Properties CEO, Abdulla Lahej, who is going to launch Amaal 8 in the Meydan Horizon sub-community within Mohammed bin Rashid City. This is going to be a mixed-use residential tower, offering 512 residences over 48 floors.

The tower’s location will offer stunning views of the Ras Al Khor Wildlife Sanctuary and easy access to some of Dubai’s most popular areas including Downtown Dubai, Citywalk and Dubai Design District. 

### Amaal 8 will offer top-tier amenities such as:

- Retail stores and al fresco dining
- Infinity pools
- A state-of-the-art gym
- Spa, leisure zones, and indoor cinema
- Kids' pool and play areas
- Padel court, golf simulation pavilion, mini golf course, and a racing simulation 

## A unique living experience for residents!

Amaal 8 caters to a wide range of buyers and tenants with one to four bedroom apartments and luxurious penthouses. 

With its design, amenities, and prime location, the development is expected to create stunning urban living in Dubai. The developer is confident that the project will exceed market expectations, offering a unique living experience for those looking for both luxury and community vibes. 

## Can’t wait to check it out?

If you are thinking about this project and want to know more, you could [drop our in-house off-plan experts a line](https://wa.me/97144294444) to check it out! 




742288615-800x600.jpeg

MBR City is set to welcome a brand-new development: Amaal 8

Dubai Land Department has announced a partnership with Digital Dubai that will introduce specialised indicators for residential and commercial property sale prices to boost transparency for investors.

## How did this come about?

Dubai’s real estate sector contributed 7.5% to the city's GDP in 2023 and is largely know 
as one of the most vital industries. 

However, despite this transparency within real estate has always been a key area of focus in ensuring investor confidence and market stability for the government. 

This new collaboration between Digital Dubai and the Dubai Land Department is just to enhance that transparency by providing real-time tracking of property prices and transaction values across various locations in the city.

The partnership will generate statistical indicators that monitor real estate price trends, helping investors, developers, and decision-makers make informed choices. 

Hamad Obaid Al Mansoori who is the Director General of Digital Dubai, shared that this initiative aligns with Dubai’s vision of becoming a global investment hub, especially in the real estate sector.

## The positive impact this will leave on the property market

One of the key outcomes of this partnership is the development of accurate indexes that reflect real market prices and trends, similar to the RERA rental Index. 

This data will be invaluable for investors who are looking to plan strategically and forecast future developments.

In Allsopp & Allsopp’s Q3 2024 market snapshot, we shared that Dubai’s property value has continued to rise with the average price per square foot reaching AED 1,511—up from AED 1,405 during the same period in 2023. 

The steady increase in property prices, paired with enhanced transparency, will likely increase investors' confidence in the market’s accuracy and reliability.

## The impact on rentals, and tenant demands

As we’ve seen from Allsopp & Allsopp’s Q3 2024 data, there has been a significant increase in rental demand, particularly in premium communities. Through this, tenants are increasingly opting for flexible cheque payment options despite higher rental prices. This trend is driven by the desire to live in high-quality, comfortable communities that offer a premium lifestyle. 

The new partnership between Digital Dubai and the Dubai Land Department will support this demand by providing real-time data that helps tenants and landlords alike make informed choices. 

As more accurate market data becomes available, property owners will have a better understanding of rental trends, allowing them to offer competitive yet transparent pricing structures and tenants can plan their payment options better. 

## How this partnership will drive growth in the market

This partnership is not just about tracking real estate prices—it’s also about building a safer future for Dubai’s property market. 

By providing accurate, real-time data, this collaboration will help monitor market performance, offering insights into both residential and commercial sectors and will enable stakeholders to plan more effectively for the future.

## Now, isn’t that something!

If you are considering investing in Dubai’s property market, and are searching for accurate statistics to learn the market better - you could take a [read through our Allsopp & Allsopp Q3 2024 Market Snapshot](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1480-The-Allsopp-%26-Allsopp-Q3-property-market-snapshot-has-arrived!)! 

And if you are set to invest, you could [drop our in-house team of experts a line](https://wa.me/97144294444) to know more or [check out our live listings](https://www.allsoppandallsopp.com/dubai/properties/residential/sales)! 





r5IgrhC4-dubaidigitaleconomy-1200x750.jpg

DLD partners up with Digital Dubai to boost property market transparency! 

Tax. 

Many of us in Dubai won’t have heard of that word for some time - but for those of us who have memories of what once was, hearing it might make you shiver. 

The news is in, the UAE has announced a brand new set of VAT laws. 

## What is VAT?

VAT is value-added tax which in the UAE is 5% and added on goods and services in Dubai. This includes dining at restaurants, or purchasing groceries from the supermarket. 

The UAE has now introduced a series of significant changes to its VAT regulations in a move aimed at strengthening its position as a global business hub, and here is everything you need to know…

## What are the new VAT laws?

These new amendments to VAT have been announced by the Ministry of Finance and are set to focus on enhancing transparency, supporting the investment growth of the country and attracting both local and international businesses to the UAE. 

This change is expected to increase the growth of the investment management sector, increasing the UAE’s attractiveness as a leading investment hub. 

Another important change introduced by the amendments is the VAT exemption for in-kind donations between charitable and government entities, valued at up to AED 5 million over 12 months. 

This move aims to ease the financial burden on these entities, allowing them to recover VAT on such donations.

Additionally, the new rules grant the Federal Tax Authority the power to deregister taxpayers in specific cases, reinforcing the integrity of the UAE’s tax system. This strengthens tax compliance and streamlines the administration of taxes within the country.

## The positive impact on Dubai’s property market

These VAT amendments will have significant impact on the property market in Dubai.

By exempting investment fund management services and certain virtual assets from VAT, the government is making real estate and financial technology investments more attractive and attainable. This move is expected to drive investors toward the UAE property market, which is already on the rise! 

With Dubai being a major financial and real estate hub, the new tax laws will encourage more businesses and investors to consider property as a secure investment, likely to lead to increased demand for commercial and residential properties. 

This will not only boost Dubai’s property market but also contribute to the overall growth of the economy, reinforcing our status as a global leader in real estate innovation and investment.

## Impressive, isn’t it?

If you are thinking about capitalising on this opportunity and planning to buy a property in Dubai - you can [drop our in-house team a line](https://wa.me/97144294444) to browse different properties in Dubai! 

 





images.jpg

The UAE announces new VAT laws - How is this going to affect you?


### Increased affordability continues to drive Dubai’s property market in Q3 2024

As Q3 comes to an end, Dubai’s property market continues to set new benchmarks, showing strong growth and significant investor interest. The total sales value reached AED 113BN, marking an impressive 28% increase from Q3 2023.

The market, fuelled by over 400 days without an increase in interest rates, has seen the reduced cost of borrowing money for property in Dubai increase affordability for potential home buyers. As a result, total sales transaction volume (46,219) surged by a historic 42% in comparison to the same period last year.

Apartment sales (37,165) increased 48% compared to Q3 2023 and accounted for 80% of all Dubai sales transactions.

Villa and townhouse sales made up the remaining 20% of sales transaction volume and accounted for 42% of total market sales value in Q3 2024, with demand continuing to outweigh supply across residential communities. The imbalance between demand and supply could suggest potential price increases over the coming months.

As developers continue to try and meet the levels of demand across the market, we have seen the launch of 22,555 off-plan units, an 8% increase from last year.

With overall demand for properties consistently exceeding supply, and low interest rates increasing affordability, the Dubai residential market is expected a further boost, leading to a strong year-end finish

Click below to read the full report:

 
<a target="_blank" Href="https://strapiallsopp.s3.eu-west-1.amazonaws.com/Allsopp_and_Allsopp_Q3_market_snapshot_80505f92d6.pdf?updated_at=2024-10-03T09:33:29.510Z"><button class="subscribe mx-auto" style="color:#fff !important;display:flex;">View the report here </button></a> 
 

 

### For media enquiries and interview opportunities:

PR & Communications

Allsopp & Allsopp

E: PR@allsoppandallsopp.com

T: 971 52 510 4576

Website - 1200x800 (1).jpg

The Allsopp & Allsopp Q3 property market snapshot has arrived!

Has it really only been 17 hours since the last off-plan launch in Dubai? 

Oh yes, it has - and now LMD Developments has just unveiled their AED 750 million project - The Pier Residence.

This luxurious waterfront development is set to be the next iconic destination for those looking for affordable luxury living - with completion scheduled for the second quarter of 2027!

## What can we expect?

The Pier Residence will feature 274 high-end homes, offering one-, two, and three-bedroom apartments. For those seeking something extra, select units will include private pools and balconies too, adding an exclusive touch to the property. 

The project’s design is elegant and modern, ensuring each unit has high-end finishes and features.

Let’s also not forget to mention, that you’ll get breathtaking views of the Arabian Gulf and the Downtown Dubai skyline!

## What amenities can you enjoy?

Apart from the luxurious apartments, residents at The Pier Residence will have access to a wide range of top-tier amenities including:

- A state-of-the-art premium gym
- A padel court 
- Jogging and walking tracks
- A luxurious residents' lounge
- A children’s play area designed with families in mind

These amenities are much more than what you can get at an average apartment complex!

## Where is The Pier Residence located?

The Pier Residence is strategically located in Dubai Maritime City, placing it just minutes away from Downtown Dubai and Jumeirah, two of Dubai’s most prominent areas.

The location offers residents the perfect balance between tranquil waterfront living and bustling city life, making it a prime location for those seeking both convenience and exclusivity.

## Who are LMD’s partners in this project?

LMD has partnered with several key players to bring this project to life. 

The National Bank of Fujairah is playing a critical role in the financial backing of the development. Additionally, Devmark who is a leading sales and marketing consultancy in the UAE, has been appointed as the exclusive sales partner for The Pier Residence, ensuring that the project reaches both local and international investors.

## How does this reflect the UAE’s vision for real estate?

According to Hamad Al Abbar, who is the Managing Partner of LMD, The Pier Residence is a major step toward realising Dubai’s vision of enhancing its real estate sector. He shared that Dubai has become a global hub for wealthy investors due to its investor-friendly policies, including:

- The ease of purchasing property for international buyers
- High returns on investment
- The availability of residency visas for property buyers
- World-class infrastructure

These factors, combined with a surge in demand for Dubai real estate have made the emirate a top choice for global investors.

## Keen to check it out?

Thinking about this project, then [drop our off-plan experts a line](https://wa.me/97144294444) to know more about The Pier Residences. 


m001.jpg

LMD Developments launches AED 750 million project; The Pier Residence

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## In this week's episode of Taking Care of Business...

Join our Chairman, Lewis Allsopp alongside the CEO and Founder of Humantra, Charlie Wright. Dive into the world of electrolytes, uncover the single root cause of most health problems and learn how Humantra became a global phenomenon!
 
 
<details>
 <summary>Click to see the highlights from this episode</summary>
 
 <h4>This week's episode of Taking Care of Business covered:</h4>
 <ul>
 <li>00:00 Introduction</li>
 <li>00:47 Meet Charlie Wright, CEO of Humantra</li>
 <li>01:03 The Success of Humantra in Dubai</li>
 <li>02:21 Charlie's Personal Health Journey</li>
 <li>03:40 The Importance of Hydration</li>
 <li>04:27 Launching Humantra with Huda Beauty Investments</li>
 <li>06:49 Expanding Humantra Globally</li>
 <li>12:01 Challenges and Growth in Business</li>
 <li>18:45 Balancing Work and Personal Life</li>
 <li>19:40 Morning Routines and Their Effect on our Daily Lives</li>
 <li>20:02 Finding Relaxation Through the Right Hobbies</li>
 <li>21:00 The Importance of Physical Fitness</li>
 <li>23:51 Humantra's Mission and Future Plans</li>
 <li>25:31 Marketing Masterclass: How Humantra became a Global Phenomenon</li>
 <li>31:11 Leveraging Technology and AI in Business</li>
 <li>32:55 The Key to Success: Mindset and Hard Work</li>
 <li>33:28 Future Collaborations</li>
 </ul>
</details>
 
 

#### TL;DR... this weeks episode in 30 seconds

The conversation began with Charlie sharing the story behind Humantra’s explosive rise as a leading hydration brand in the UAE and beyond.
Charlie picked out the defining moments that shaped his entrepreneurial journey, how the loss of his father inspired his journey and how his personal struggles with health motivated him to create a product that could help people prioritise their well-being. 

**In 2021, Humantra was born**

Charlie explains the role of brand partnerships and how they have contributed to Humantra’s success, and the invaluable support from Huda and Mona Kattan (founders of the Billion dollar beauty empire, ‘Huda Beauty’), who were the first investors to provide both financial backing and mentorship to Humantra.

Despite its rapid growth, Humantra remains committed to its core mission of providing optimal hydration. Charlie emphasised the importance of staying focused and avoiding distractions as a business leader, a message that resonates with all of us striving for success. 

Lewis and Charlie shared insights on leadership, decision-making, and balancing work and personal life, inspiring us to stay true to our mission.

Lewis discussed the importance of marketing with Charlie, who then addressed the company’s approach to social media, influencer partnerships, and public relations. 

Charlie highlighted the importance of creating a solid brand identity and resonating with the Humantra community.

As the conversation progressed, Charlie shared his vision for Humantra’s future, hinting at potential collaborations and market expansions, exciting us about the possibilities that lie ahead. He expressed his belief in the growing importance of hydration and wellness, and his determination to continue innovating and providing value to consumers.
The episode ended with Lewis and Charlie discussing the challenges and opportunities Humantra faces in today’s competitive market and the importance of adaptability, resilience, and taking a long-term perspective. Charlie signed off, expressing his gratitude for the support from his team, investors, and customers and his unwavering belief in Humantra’s potential for continued success.
 
 
[Like what you saw >>> tune into Taking Care of Business, every Friday and check out the latest episodes here!](https://www.youtube.com/playlist?list=PLf4jDvQ7iiLLPSDjQWuBd8BLM-cQqBLy_)
 
 
<details>
 <summary>Everything you need to know about Humantra</summary>
 
 <h4>FAQ's</h4>
 <ul>
 <li>What is in Humantra?</li>
 Humantra contains a blend of all 6 essential electrolytes for optimal hydration, enhanced with Zinc, Vitamin C, Vitamin B12 and Chromium Picolinate for immune support and metabolic health. There are no artificial colors, flavors or anything synthetic in our formulas and it is completely sugar free. We naturally flavor Humantra with fruit extracts and stevia leaf.
 
 
 <li>Don’t electrolytes need to have sugar to be effective?</li>
Absolutely not! This widespread claim is based on the outdated 60 year old science of ORS (Oral Rehydration System), which is only meant to be used in emergency (life or death) situations. Any electrolyte formula containing the ORS system and claiming to be “science backed” is misleading and flawed. Unless you are hospitalized with acute dehydration sickness, you do not need sugar in your electrolytes.
 
 
 <li>Does Humantra burn fat?</li>
Humantra is not a fat burner, but dehydration slows down your metabolism. This is the reason why many people experience some degree of fat loss when they take electrolytes for long term use.
 
 
 <li>Will Humantra give me energy?</li>
There is no caffeine or any stimulant in Humantra. However, the natural energy boost you might experience from taking it comes from being properly hydrated.
 
 
 <li>How do I know if I’m actually dehydrated?</li>
If you’re a human living in a city, you are not optimally hydrated. The reason why everyone has a hydration deficiency is not because they don’t drink enough water - it’s because the water they are drinking is void of electrolytes. If you’re living in the mountains and filling your water bottle up from the local river, then you’re probably getting all the trace minerals (electrolytes) that you need. But if you’re drinking bottled water from a store or tap water from a city, you’re just not getting what you need to be hydrated. Working indoors is dehydrating, stress is dehydrating, staring into an electronic screen for hours is dehydrating. You need to hack your hydration, and taking electrolytes is the best way to do it.
 
 
 <li>If I’m taking a multivitamin, can I also take Humantra?</li>
Absolutely. Most high quality multivitamins contain small amounts of electrolytes, but it’s not enough to keep you hydrated. Taking electrolytes and a multivitamin as part of your daily health routine has a beneficial effect with no counter indications
 
 
 <li>How much Humantra can I drink daily?</li>
Humantra was designed as a daily supplement with 1 to 3 servings being the optimal dose. For daily health optimization, 1-2 servings is the ideal dose. For athletes who are exercising daily and losing electrolytes due to sweat loss, or for anyone working in active or highly stressful jobs, 2-3 daily servings is recommended.
 
 
 <li>Is Humantra safe for everyone?</li>
Electrolytes are a group of essential basic nutrients that keep us alive. Being human, we all need them to survive. We formulated Humantra for adults, but it can be used by children as young as age 8, or adults as old as 108. We recommend that those taking prescription diuretics such as Spironolactone (Aldactone) should consult with their doctor first due to this drug having a potassium storing effect.
 
 
 <li>Is Humantra vegan?</li>
Electrolytes are a group of essential basic nutrients that keep us alive. Being human, we all need them to survive. We formulated Humantra for adults, but it can be used by children as young as age 8, or adults as old as 108. We recommend that those taking prescription diuretics such as Spironolactone (Aldactone) should consult with their doctor first due to this drug having a potassium storing effect.
 
 
 <li>Is Humantra gluten free?</li>
Yes. Humantra is certified gluten free and soy free.
 
 
 <li>Does Humantra contain GMO’s?</li>
No. Humantra is committed to producing the cleanest, most health enhancing natural supplements in the industry.
 </ul>
 </details>
 
 
 
[Allsopp & Allsopp Real Estate](https://www.allsoppandallsopp.com)

Template_Taking Care of Business_Podcast_(YouTube Thumbnail) (1024 x 768 px) (1).jpg

Miracle Cure or Marketing Hype: What The Electrolyte Industry Doesn't Want You To Know and How Humantra Can Help!

## Miracle Cure or Marketing Hype: What The Electrolyte Industry Doesn't Want You To Know and How Humantra Can Help

<iframe width="560" height="315" src="https://www.youtube.com/embed/L2rFe9W3Cl4?si=At-AD14yKCv4JnEe" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

On this week's episode of Taking Care of Business, join our Chairman; Lewis Allsopp alongside the CEO and Founder of Humantra; Charlie Wright. Dive into the world of electrolytes, uncover the single root cause of most health problems and how Humantra became a global phenomenon!

Tune in!

## This week’s hottest headlines

### Dubai is set to welcome a massive wave of centi-millionaires!

According to the Centi-Millionaire Report 2024 by Henley & Partners, Dubai, Abu Dhabi and Riyadh are projected to experience a 150% increase in centi-millionaires by 2040! 

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1473-Dubai%E2%80%99s-about-to-get-richer:-The-centi-millionaires-making-moves-). 

### The US announces Fed interest rate cuts - What could this mean for the property market?

The US central bank lowered interest rates for the first time in four years on Wednesday. What could this mean for markets globally, and how will it impact borrowing?

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1475-US-Fed-interest-rate-cuts:-What's-next-for-home-prices?). 

### UAE is set to enforce women's leadership in private joint-stock companies, starting 2025!

The UAE Ministry of Economy has announced; that starting January 2025, private joint-stock companies will be required to reserve at least one seat on their boards of directors for women.

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1474-UAE-to-Enforce-Women-on-Private-Company-Boards-from-2025-). 

### SOL Properties set to invest AED 12 billion in Dubai’s property market!

SOL Properties has unveiled a series of high-end projects with a value of AED12 billion and these projects are set to be launched over the next six months. 

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1476-SOL-Properties-set-to-invest-AED-12-billion-in-Dubai%E2%80%99s-property-market!).

## HOT OFF THE PRESS!

### Lewis Allsopp - The National

How will US Fed rate cut affect UAE mortgages?

Read [more](https://www.thenationalnews.com/business/money/2024/09/19/uae-mortgage-rates-us-fed-rate/).

## Company Updates

### Another record sale for Allsopp & Allsopp!

![record sale in Allsopp & Allsopp](https://strapiallsopp.s3.eu-west-1.amazonaws.com/record_sale_in_Allsopp_and_Allsopp_0300d1f078.jpg)

We are always setting new benchmarks in the Dubai real estate market, and this time around our Partner; Jamal Tuzgani along with Property Consultant; Sachin Patel broke the record sale in Jumeirah Islands for a property worth AED 32.5 million and AED 6.4 million in The Springs! 

Read [more](https://www.instagram.com/p/DAGREWbycbi/?img_index=1).

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Dubai's Weekly News Snapshot: The Ampersand 20-09-2024

SOL Properties have recently announced an investment of AED 12 billion in Dubai’s property market - and the best part? We’re expected to see it all come to life in the next six months.

## What can you expect?

A project pipeline that is set to transform UAE real estate

SOL Properties has revealed a series of high-end projects set to be launched over the next six months. 

To start with, SOL Properties has purchased 4 million square feet of prime land across various communities in Dubai, positioning itself for both ultra-luxury and affordable luxury projects. 

The new developments include an incredible ultra-luxury project in the West Crescent of Palm Jumeirah, as well as the iconic Fairmont Residences Solara Tower in Downtown Dubai. Together, these two developments are already valued at an impressive AED8.2 billion.

Additionally, the company has recently completed and handed over Oakley Square Residences in Jumeirah Village Circle which is a sold-out affordable luxury project.

## Quality you can count on

SOL Properties’ ambitious expansion plans are backed by the 50-year legacy of its parent company, the Bhatia Group. Under the leadership of Ajay Bhatia, Chairman of Bhatia General Contracting and Founder and CEO of SOL Properties, the group has become a leading force in Dubai’s property development sector.

With a portfolio of over 250 transformative projects, the Bhatia Group has established itself as a leader in the industry, known for its expertise in project planning, construction, design, and safety management. 

## Impressive, isn’t it?

Thinking about purchasing a piece of the puzzle? 

You can [drop a line to our in-house off-plan experts](https://wa.me/97144294444) to take a look at SOL Properties’ projects! 




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SOL Properties set to invest AED 12 billion in Dubai’s property market!

Everyone’s been talking this week about the US announcement on the change in Fed rates. 

While we’re sure the majority of prospective property buyers are relieved about the news of the cut in interest rates, many of us are still trying to understand what this all really means.

## What does the Fed rate cut mean?

The Fed’s lending rate serves as a benchmark for banks when determining the interest rates they charge customers on loans, such as mortgages and credit cards. 

Over the last year, interest rates have been at their highest level since 2001 sitting at around 5.3%. This made borrowing expensive for many around the world, effectively keeping some buyers and sellers on the sidelines waiting for prices to come down, or hoping that their current mortgages would become more affordable. 

With the rate cut, borrowers can expect some relief. In fact, mortgage rates have already started to drop slightly since 2023 in anticipation of the cut. 

In addition to this, savings account rates are also expected to fall as banks adjust to the lower lending costs.

## Why was this cut made?

While central banks in regions like Europe, the UK, and New Zealand had already cut their rates, the US Federal Reserve had lagged a little behind in doing so. 

The Fed's decision to raise rates started in 2022 aimed at combating inflation, which had reached its highest levels since the 1980s. Higher interest rates make borrowing more difficult, which reduces consumer spending and cools the economy - helping to stabilise prices. With inflation stabilising at 2.5% as of August, the Fed is now shifting its focus to job market concerns, as unemployment has been rising over the past year.

## What the US interest rate cut means for Dubai

The US Federal Reserve has cut interest rates by 0.5%, while most were expecting it to be 0.25%.

### Expect lower borrowing costs

With lower interest rates, borrowing money becomes cheaper including for home loans and other types of debt.s.

It also means that auto loans and credit card debt will be easier to manage. For those who’ve been hesitant to take on new loans, this is welcome news! 

### Global affordability will increase

Countries with currencies linked to the US dollar, such as the UAE will tend to adjust their interest rates based on the Fed’s decisions. So, this cut could also mean lower borrowing costs for people in Dubai. 

Moreover, the cut is likely to give the US stock market a boost. Lower rates make it cheaper for companies to borrow money, reinvest in their businesses, and drive profitability. Additionally, savings accounts and other low-risk investments become less attractive, often pushing investors toward stocks, which tends to raise share prices.

### No slowdowns in the property market

In Dubai, the rate cut could make mortgages more affordable leading to increased demand for real estate -  which means there should be no signs of the market slowing down anytime soon! 

This is especially important for the luxury market, where high-end properties in areas like Jumeirah Golf Estates (where Allsopp & Allsopp holds a 47% market share) and Palm Jumeirah could see more interest as financing becomes cheaper. That comes as an added bonus after we noticed in our August 2024 market snapshot that luxury market sales had doubled from the previous year, up by 100%! 

Added to this, Dubai while seeing the highest of all-time average square foot price, remains one of the cheapest property markets globally with an average square foot price of just AED 1,439! 

With inflation rates in a more stable position, the focus has shifted to boosting economic growth and job creation. While these effects will mainly be felt in the US, global markets like Dubai are likely to feel the benefits as well because many North Americans have considered relocating to Dubai for its lifestyle, stability and booming property market returns. 

## Thinking of your next mortgage?

You can [get in touch with our in-house mortgage team](https://wa.me/97144294444) to learn more about the fed cuts and how much affordability could change for you.







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US Fed interest rate cuts: What's next for home prices?

Who run the boardroom? Girls! 

The UAE Ministry of Economy has announced a groundbreaking initiative to boost gender diversity in the corporate sector. 

Starting January 2025, private joint-stock companies will be required to reserve at least one seat on their boards of directors for women. 

Here’s everything to know…

This new directive is part of a broader effort to increase women's participation in leadership roles across various sectors in the UAE outside of publicly listed companies. 

The Ministry has urged companies to factor this requirement into their board restructuring plans as current board terms come to an end and by 2025 - this needs to be in effect. 

## How the UAE is enhancing women’s roles in leadership

This decision aligns with the UAE’s vision of creating a more inclusive business environment with women to play a key role in driving economic development. 

Abdulla bin Touq Al Marri, the UAE Minister of Economy shared that women's participation will not only enhance the institutional performance of private companies but also contribute to the UAE's global competitiveness.

The initiative is part of a wider plan to increase the percentage of women in leadership positions to 30% by 2025.

## How will this impact the Dubai property market?

The property market in Dubai is likely to see a positive impact from this initiative. 

With more women taking on leadership roles in private joint-stock companies, including those involved in real estate, we can expect to see a more inclusive approach to business strategies and decision-making. 

The unique perspectives that women bring to leadership will likely lead to innovative developments, more customer-centric services, and potentially even shifts in market trends that prioritise sustainability and community-building.

Plus, with more women in powerful roles, the more female investors we can expect to  see across the property market too! 

## Now, isn’t that an impressive change?

Thinking about expanding your business in Dubai, or planning to relocate? You could [drop our in-house commercial team a line!](https://wa.me/97144294444) 

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UAE to Enforce Women on Private Company Boards from 2025 

Money money money must be funny…

Dubai is set to welcome another large influx of wealthy centi-millionaires! With major cities like Abu Dhabi and Riyadh also set to follow suit.

## What’s a centi-millionaire?

A centi-millionaire is an individual with liquid investable assets of $100 million or more. 

While the United States and China still lead the way globally with the highest number of centi-millionaires, Asia and the Gulf region is rapidly catching up. According to the Centi-Millionaire Report 2024 by Henley & Partners, Dubai, Abu Dhabi and Riyadh are projected to experience a 150% increase in centi-millionaires by 2040! 

## So, what’s fueling this wealth boom in the Gulf?

One major factor behind this growth is the Gulf’s investor migration schemes, which are particularly attractive to high-net-worth individuals. 

Cities like Dubai and Abu Dhabi have implemented practices and investor-friendly policies such as golden visas, that make them appealing destinations for centi-millionaires who are looking to diversify their investments.

Additionally, many of these centi-millionaires are entrepreneurs and company founders. Andrew Amoils, Head of Research at New World Wealth, points out that the businesses started by these individuals often create numerous well-paying jobs, thus fueling further wealth creation in the region.

## How does the Gulf compare globally?

While the Gulf cities are making moves, the global distribution of centi-millionaires is still dominated by cities in the United States and China.

For example, New York City remains the global leader, boasting 744 centi-millionaires, while the Bay Area follows closely behind with 675. Despite this, the Gulf’s rapid rise is one to watch, especially when compared to European cities.. In fact, Europe’s centi-millionaire population has only grown by 26% over the past decade, whereas cities like Dubai and Abu Dhabi are expected to surge by over 150% by 2040!

## What does this mean for the Dubai property market?

The influx of centi-millionaires in the Gulf, particularly in Dubai will inevitably impact the property market. As these ultra-wealthy individuals flock to the city, demand for luxury real estate is set to skyrocket. This could lead to a surge in demand for high-end properties, urging developers to continue to meet the rising demand in the market. 

Additionally, in the long term, this wealth influx will likely cement Dubai’s position as one of the world’s leading hubs for luxury living and international investment. 

## Thinking of moving to Dubai?

If you’ve got the millionaire’s haven on your radar and are considering a move here, you could start by checking out some of our [live listings](https://www.allsoppandallsopp.com/)! 



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Dubai’s about to get richer: The centi-millionaires making moves 

Last week, our Chairman; Lewis Allsopp sat down to chat with Arabian Business about how much individuals in Dubai should be earning to afford a property worth $1 million in Dubai comfortably. 

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

Prospective UAE property buyers should earn between AED 240,000 to AED 550,000 annually, depending on age, debt, and loan terms. 

Lewis shared that for a $1 million (AED 3.67 million) property, buyers should expect a down payment of at least 20%, or $200,000 (AED 734,578).

In such cases, buyers should earn AED 500,000–550,000 annually to comfortably afford the mortgage, which could be AED 15,333 per month over 25 years. However, the down payment and terms can vary based on age, credit score, and bank lending policies.

## The debt-to-income ratio

In Dubai, mortgage lenders assess borrowers using a debt-to-income ratio (DTI) to determine their ability to manage monthly payments. 

According to Lewis, banks or lenders allocate 50% of a borrower’s income towards their debt burden, deducting liabilities like loans and credit card payments. The remainder is used for the mortgage with banks calculating based on a stress rate (2% higher than the mortgage rate) and the loan term, which is up to 25 years.

For example, if someone earns AED 15,000 monthly and has AED 6,000 in debt payments, their DTI ratio would be 40%.

Lewis also noted that some banks offer special incentives, such as preferential interest rates and reduced fees for high-net-worth individuals who maintain significant cash balances or income levels. For a $1 million home, buyers should budget at least AED 15,000 per month for mortgage payments. A good credit score is crucial for securing a mortgage, and poor credit usage can lead banks to reduce loan amounts or decline applications entirely.

Additional costs beyond the purchase price include transaction fees like DLD transfer fees, agent commissions, and maintenance charges. Lewis shared that maintaining a good credit score, paying bills on time, and avoiding new loans before applying for a mortgage are essential steps for prospective property buyers in Dubai.

## Want to know more?

You can [drop our in-house mortgage team a line!](https://wa.me/97144294444) 

If you want to continue reading this article - check it out [here on Arabian Business.](https://www.arabianbusiness.com/industries/real-estate/dubai-real-estate-how-much-should-you-earn-to-buy-property-worth-1-million)


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HOT OFF THE PRESS: How much should you earn to buy a property worth $1 million?

## The truth behind Dubai's real estate market that will blow your mind

<iframe width="560" height="315" src="https://www.youtube.com/embed/cxGCeaUpn-A?si=DKO2WtrhwuQckbku" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

Join CEO, Carl Allsopp and Managing Director, Marc Walters on this week's episode of Taking Care of Business, as they break down August's market report, sharing insights and trends that kept Dubai’s real estate hot this summer. 

Don't miss their expert predictions for the last quarter of the year.

Tune in now.

## This week’s hottest headlines:

### DXB Airport tops the charts as the Middle East’s most connected airport!

According to Megahubs’ The Most Connected Airports in the World report, Dubai Airport topped the chart as a global hub for air travel, linking passengers to 279 destinations between September 2023 and August 2024. 

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1467-DXB-Airport-tops-the-charts-as-the-Middle-East%E2%80%99s-most-connected-airport!-).

### Sankari and IHG announce their newest branded residence - Regent Residences!

Sankari has paired up with IHG Hotels and Resorts to bring their newest branded residence; Regent Residences, featuring floating apartments to Marasi Marina in Dubai. 

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1468-Sankari-and-IHG-announce-their-newest-branded-residence;-Regent-Residences!-).

### Take me back to London Town: Majid Developments bring Mayfair Gardens to Dubai!

Majid Developments has launched its first residential project in Dubai, Mayfair Gardens, a London-inspired tower in Jumeirah Garden City offering 64 premium residences! 

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1466-Majid-Developments-announce-their-newest-project;-Mayfair-Gardens!). 

### Binghatti reveals a brand-new 770-unit luxury development in Dubai!

This project is the first for this company in the last two years, marking Binghatti’s return to the area and features a total of 770 residential units, designed with contemporary aesthetics and functionality in mind.

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1465-Binghatti-reveals-a-brand-new-770-unit-luxury-development-in-Dubai!-). 

## HOT OFF THE PRESS!

### Lewis Allsopp - The National

Could your dream home be closer than ever?

Interest rate cuts set to increase affordability of UAE's small to mid-segment homes.

Read [more](https://www.thenationalnews.com/business/money/2024/09/03/interest-rate-cuts-set-to-increase-affordability-of-uaes-small-to-mid-segment-homes/). 

## Company updates:

### Incredible six-bedroom villa in Jumeirah Golf Estates.

![a0O4S000000V11FUAS_m_DSC03470-Edit.jpg](https://strapiallsopp.s3.eu-west-1.amazonaws.com/a0_O4_S000000_V11_FUAS_m_DSC_03470_Edit_c70b824120.jpg)

This European-designed villa features an indoor/outdoor pool, private garden, cinema, basketball court and a gym! 

For sale: AED 35,000,000

For bookings, contact [Darren Murphy: +971 56 799 5941](https://www.allsoppandallsopp.com/dubai/property/sales/dubai-DUB140008)

Trakheesi Permit: 6544671510

The latest news and highlights from Dubai's real estate market

The UAE Cabinet approves the largest fiscal federal budget for 2025!

MBR City is set to welcome a brand-new development: Amaal 8

DLD partners up with Digital Dubai to boost property market transparency!

The UAE announces new VAT laws - How is this going to affect you?

The Allsopp & Allsopp Q3 property market snapshot has arrived!

LMD Developments launches AED 750 million project; The Pier Residence

Miracle Cure or Marketing Hype: What The Electrolyte Industry Doesn't Want You To Know and How Humantra Can Help!

Dubai's Weekly News Snapshot: The Ampersand 20-09-2024

SOL Properties set to invest AED 12 billion in Dubai’s property market!

US Fed interest rate cuts: What's next for home prices?

UAE to Enforce Women on Private Company Boards from 2025

Dubai’s about to get richer: The centi-millionaires making moves

HOT OFF THE PRESS: How much should you earn to buy a property worth $1 million?

Dubai's Weekly News Snapshot: The Ampersand 13-09-2024

Guides

The latest news and highlights from Dubai's real estate market

The UAE Cabinet approves the largest fiscal federal budget for 2025!

MBR City is set to welcome a brand-new development: Amaal 8

DLD partners up with Digital Dubai to boost property market transparency!

The UAE announces new VAT laws - How is this going to affect you?

The Allsopp & Allsopp Q3 property market snapshot has arrived!

LMD Developments launches AED 750 million project; The Pier Residence

Miracle Cure or Marketing Hype: What The Electrolyte Industry Doesn't Want You To Know and How Humantra Can Help!

Dubai's Weekly News Snapshot: The Ampersand 20-09-2024

SOL Properties set to invest AED 12 billion in Dubai’s property market!

US Fed interest rate cuts: What's next for home prices?

UAE to Enforce Women on Private Company Boards from 2025

Dubai’s about to get richer: The centi-millionaires making moves

HOT OFF THE PRESS: How much should you earn to buy a property worth $1 million?

Dubai's Weekly News Snapshot: The Ampersand 13-09-2024