### Dubai's Property Market on Track for Strongest Year-End Finish

Dubai's property market continues to defy expectations, with October 2024 marking another period of significant growth. 

Sales transaction value stood at AED 50 billion and surged by 82% year-over-year, driven by increased affordability and strong investor interest. The sales volume of the market stood at 20,460, with apartment sales soaring by 76% year-on-year while villas and townhouses closed off by 21%. October also witnessed a rapid rise in the luxury market, seeing 67 sales taking place over $10 million - reaffirming growing investor interest. 

The rental market also experienced substantial growth, with a 64% increase in new rental listings and rising demand leading to increased rental prices and flexible payment options. British and Indian nationals remain the top buyers, with growing interest seen from Canadian and German buyers.

On the off-plan market, developers are actively responding to demand by launching new projects, particularly in popular areas like Jumeirah Village Circle, Dubai Hills Estate, and Motor City - While the off-plan market accounts for 67% of all sales in the market with an impressive value of AED 26.8 billion!

As Dubai's property market continues to thrive, it offers promising opportunities for both investors and homebuyers alike. 

Click below to read the full report:

<br/>
<a target="_blank" Href="https://strapiallsopp.s3.eu-west-1.amazonaws.com/October_2024_Market_snapshot_1_420c3034c3.pdf?updated_at=2024-11-08T11:02:23.344Z"><button class="subscribe mx-auto" style="color:#fff !important;display:flex;"><span style="color:#fff !important;">View the report here</span> </button></a> 
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### For media enquiries and interview opportunities:

PR & Communications

Allsopp & Allsopp

E: PR@allsoppandallsopp.com

T: 971 52 510 4576

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The Allsopp & Allsopp October property market snapshot has arrived!

### 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:

<br/>
<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;"><span style="color:#fff !important;">View the report here</span> </button></a> 
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### 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!

## 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

## 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



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

## How New Businesses In The UAE Are Making Millions!

<iframe width="560" height="315" src="https://www.youtube.com/embed/GrjYqojo6TI?si=kloZJuCmxzx1_YAi" 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 of Virtuzone, Neil Petch as they talk about all things business setups in Dubai, how the UAE is building a global stage for success and find out how new businesses are fueling the rising demand in the property market!

## This week’s hottest headlines!

### Dubai and Abu Dhabi ranked best cities for entrepreneurs and start-ups

According to research by SumUp, Dubai and Abu Dhabi were ranked third and eighth place globally, based on factors like taxes, quality of life, internet speeds, and networking opportunities!

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1461-Dubai-and-Abu-Dhabi-are-the-best-cities-for-entrepreneurs-and-start-ups!-).

### New anti-money laundering strategies are announced for 2024-27

The UAE has launched its 2024-2027 National Strategy for Anti-Money Laundering (AML), reinforcing its fight against financial crime and addressing emerging risks like cyber threats and virtual assets.

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1459-New-anti-money-laundering-strategies-are-announced-for-2024-27-).

### Knightsbridge Development announces its newest launch in Meydan

Knightsbridge by LEOS Developments in Meydan’s District 11 is set to be an AED 1.75 billion project that blends British elegance with Dubai’s luxury lifestyle.

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1460-From-London-to-Dubai:-Knightsbridge-Development-announces-its-newest-launch-in-Meydan).

### SOL Properties breaks ground on Fairmont Residences Solara Tower Dubai

SOL Properties has officially kicked off the Fairmont Residences Solara Tower construction, offering a blend of luxury and sustainability that aligns with the growing demand for eco-friendly living in the UAE!

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1458-SOL-Properties-breaks-ground-on-Fairmont-Residences-Solara-Tower-Dubai). 

## HOT OFF THE PRESS!

### Lewis Allsopp - Arabian Business

How much should you earn to buy property worth $1 million?

Read [more](https://www.arabianbusiness.com/industries/real-estate/dubai-real-estate-how-much-should-you-earn-to-buy-property-worth-1-million) to find out what our Chairman; Lewis Allsopp suggests.

## Company Updates

### Happy Sweet Sixteen!

![DSC09210.jpg](https://strapiallsopp.s3.eu-west-1.amazonaws.com/DSC_09210_38790a1d98.jpg)

We at Allsopp & Allsopp celebrated 16 years today with sweets! 

Is it really a birthday if you can’t have sweets for breakfast?  

## Featured Listing

### Experience nature in the heart of Rosa within this four-bed villa!

![a0O4S000000V1pLUAS_m_DSC07254.jpg](https://strapiallsopp.s3.eu-west-1.amazonaws.com/a0_O4_S000000_V1p_LUAS_m_DSC_07254_c54c62e1ca.jpg)

Take a look at this beautiful four-bedroom villa in Rosa, Arabian Ranches 2.

Recently renovated, it features a beautifully upgraded kitchen, new flooring throughout and ultra-modern appliances.

For sale: AED 7,500,000
For bookings, contact [Stephen Folan +971 52 616 6583](https://www.allsoppandallsopp.com/dubai/property/sales/dubai-L-228402)

Trakheesi Permit: 6510971661






Dubai's Weekly News Snapshot: The Ampersand 06-09-2024

### Following a strong summer, Dubai's property market experienced even more momentum in August as residents and new expats settled back into the city.

Property prices reached AED1,431 per square foot - an 18% year-over-year increase. Sales volume and value have also seen significant growth, driven by both residents and new expats settling in the city.

According to the Dubai Land Department data, the city recorded AED 37.3 billion in sales value, a 33% increase from August last year. Additionally, total sales volume grew by 36% compared to the same period last year, reaching 14,992 residential sales this month.

Off-plan sales maintained their domination over the secondary market, accounting for 69% of volume and 61% of total value in August. An additional 8,665 new off-plan units were launched during the month, almost doubling the number of launches compared to August last year.

Reflecting the thriving market activity, our team at Allsopp & Allsopp saw sales transactions increase by 16% compared to the same period last year. 

Year-on-year viewings have seen a 39% growth, an impressive trend we have noted during all the summer months this year. As the luxury market continues to appeal to HNWIs, our team recorded sales exceeding AED 10 million doubling year-on-year!

On the lettings side, our team recorded rental transaction volumes rising by 7% compared to the previous month. As more wealthy migrants move to the city, we are seeing this reflected in the top rental transactions. In August, the top three rentals exceeded AED 1 million in Jumeirah Golf Estates.

The overall growing demand for rental properties led to a significant 43% increase in viewings compared to the previous year, with rental listings also climbing by 8% from the previous month.

September promises to be an interesting month, with an influx of residents and expats, a growing wealthy population, potential interest rate reductions, and increased supply. Additionally, the outcome of recent international elections may influence the level of demand and foreign investment in Dubai.

Click below to read the full report:

<br/>
<a target="_blank" Href="https://strapiallsopp.s3.eu-west-1.amazonaws.com/Aug_2024_Market_snapshot_1_3933b0b929.pdf?updated_at=2024-09-09T12:20:49.671Z"><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:

PR & Communications

Allsopp & Allsopp

E: PR@allsoppandallsopp.com

T: 971 52 510 4576

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The Allsopp & Allsopp Dubai Property Market Report for August 2024!

## Panic or profit: The H2 Dubai property market predictions you need to know

<iframe width="560" height="315" src="https://www.youtube.com/embed/0r7wDux0AtY?si=ZLF8LBsigz7Pb3X9" 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, the brothers are back! Join Lewis and Carl as they dive deep into all the big headlines over the summer and how they will impact Dubai’s real estate sector, why the next federal rate review will give the market an extra boost, and what to expect from the property market for the rest of H2.

## This week’s hottest headlines!

### DLD announces video-call service for investors

In partnership with Injaz Real Estate Registration Trustee, the ‘6005AQARI’ platform marks a new era in how property investments are managed in Dubai.

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1451-Dubai-Land-Department-announces-video-call-service-to-ease-investment-processes) 

### Sunrise Capital is expanding its footprint in Dubai’s property market

The company is preparing to launch a significant mixed residential and commercial project in October. This AED400 million venture is going to be in Dubai’s Wasl Gate area.

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1452-Sunrise-Capital-is-set-to-expand-its-massive-pipeline-in-Dubai%E2%80%99s-property-market!-)

### Dubai and Abu Dhabi are ranked the best cities for remote working

The Savills Executive Nomad Index, a comprehensive ranking of the best cities for long-term remote work, has come out and placed both UAE cities at the top of the list.

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1454-Dubai-and-Abu-Dhabi-are-ranked-the-best-cities-for-remote-working!-)

### UAE leads in healthcare services across the GCC

According to a survey of 1,680 residents across the GCC by CMC Hospital Dubai, the UAE’s healthcare sector is earning significant recognition.

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1453-Top-of-the-charts:-UAE-leads-in-healthcare-services-across-the-GCC)

## HOT OFF THE PRESS!

### Lewis Allsopp - DubaiEye

The right to disconnect

Listen [now](https://omny.fm/shows/the-agenda-with-georgia-tolley/the-right-to-disconnect)

### Liam Chase - Khaleej Times

How are developers working on attracting a high-end clientele?

Read [more](https://www.khaleejtimes.com/business/realty/uae-5-star-hotel-amenities-being-offered-at-new-residential-projects)

## Featured Listing

### Come home to this exclusive one-bedroom apartment in One Za’abeel.

![a0O4V00000Narz3UAB_m_DSC06583.jpg](https://strapiallsopp.s3.eu-west-1.amazonaws.com/a0_O4_V00000_Narz3_UAB_m_DSC_06583_4deb6ca513.jpg)

Offering full access to world-class hotel amenities and restaurants! 

AED 9,500,000
For bookings - [Contact Lee Weston: +971 58 5778 542](https://www.allsoppandallsopp.com/dubai/property/sales/dubai-L-239986)

Trakheesi Permit: 71420784241




Dubai's Weekly News Snapshot: The Ampersand 30-08-2024

## How To Become A Millionaire As A Real Estate Agent In Dubai

<iframe width="560" height="315" src="https://www.youtube.com/embed/vtIx7RJ5pFw?si=X0WV_ujosndBs6bo" 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 Operations Director; Paul Kelly alongside our Senior Recruitment Consultant; Jordan Wilks. Jordan talks to us about our upcoming UK recruitment event, the tried and tested formula to succeeding, and how our top agents went from zero to record-breaking deals! 

## This week’s hottest headlines

### Livin’ La Ciel: Meraas launches a new addition in La Mer

Le Ciel at Port De La Mer is the latest launch by Meraas, offering a stunning collection of 1, 2, 3, and 4-bedroom waterfront apartments.

These contemporary living spaces are designed to combine luxury with the tranquillity of waterfront living.

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1442-Livin%E2%80%99-La-Ciel:-Meraas-launches-a-new-addition-in-La-Mer). 

### Millionaire machine: Wealthy migrants flock to the UAE

According to the Affluence & Elections Survey commissioned by Arton Capital, there were 518 millionaires surveyed out of which 21% of wealthy individuals aged 18-34 from France and the UK chose the UAE as their top relocation choice. 

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1445-Millionaire-machine:-Wealthy-migrants-flock-to-the-UAE).

### Dubai is set to open 39 private schools and nurseries in H2 2024

As the new academic year approaches, Dubai’s education sector has also taken note of the growing population and is gearing up for significant growth. The emirate is set to welcome 39 new private schools, nurseries, and universities adding more than 16,000 seats to its private education facilities. 

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1447-Dubai-is-set-to-open-39-private-schools-and-nurseries-in-H2-2024!).

### DXB is set to welcome 3.43 million guests this week

With daily traffic in DXB averaging around 264,000 passengers, and peak days potentially reaching up to 291,000 - the summer season in DXB is usually bustling with activity and we can expect 3.43 million visitors in the next week! 

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1448-Busy-buzzing:-DXB-is-set-to-welcome-3-43-million-guests-this-week!-). 

## HOT OFF THE PRESS!

### Lewis Allsopp - AGBI

With residents coming back ahead of the school season, can we expect an even higher pick up in the property market?

Read [more](https://www.agbi.com/analysis/real-estate/2024/08/dubai-back-to-school/) to find out what our Chairman; Lewis Allsopp thinks.

## Company Updates

### Come home to the one, the only apartment you ever need!

![a0O4V00000Narz3UAB_m_DSC06583.jpg](https://strapiallsopp.s3.eu-west-1.amazonaws.com/a0_O4_V00000_Narz3_UAB_m_DSC_06583_62e9fefe12.jpg)

Come home to this incredible, exclusive one-bedroom apartment in One Za’abeel.

The apartment sits in the private residences within the hotel resort, offering full access to the world-class hotel amenities and restaurants! 

For sale: AED 9,500,000
For viewings, contact [Lee Weston: +971 58 5778 542](https://api.whatsapp.com/send?phone=97144295577&text=Hi+Allsopp+%26+Allsopp%2C%0A%0AI%27m+interested+in+this+property%3A%0A%0A%2AProperty%2A%3A+One+And+Only+Private+Homes+%7C+Luxury+Living%0A%2ALocation%2A%3A+One+Za%27abeel%2C+Zabeel+1%2C+Zabeel.%0A%2APrice%2A%3A+9500000.0%0A%2AReference%2A%3A+L-239986__AGXUR41TRD%0A%0ALink%3A+https%3A%2F%2Fwww.allsoppandallsopp.com%2Fdubai%2Fproperty%2Fsales%2Fdubai-L-239986%0A%20)
Link in Bio!

Trakheesi Permit: 71420784241




Dubai's Weekly News Snapshot: The Ampersand 23-08-2024

## Why Dubai Is The Safest City To Invest In

<iframe width="560" height="315" src="https://www.youtube.com/embed/i8z_j19Zhps?si=SB-VMtjOHf213IWs" 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>


Tune in to this week’s episode of Taking Care of Business with CEO, Carl Allsopp, and Operations Director, Paul Kelly, as they uncover Dubai’s record-breaking July property market!

From all-time highs in price per square foot to phenomenal sales volumes and surges in the rental market. They answer big questions like: Why is everyone investing in Dubai? Does Dubai’s market offer better value than other global hotspots? And, is an oversupply on the horizon?

## This Week’s hottest headlines

### Dubai and Abu Dhabi ranked the ‘most livable cities’ in 2024
Dubai has been ranked one of the top most livable cities in The Middle East and Africa and secured the fifth spot on the list of the world’s safest cities.

[Read more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1436-Dubai-and-Abu-Dhabi-ranked-the-%E2%80%98most-livable-cities%E2%80%99-in-2024)

### Dubai’s GDP grows by 3.2%, reaching AED 115 billion
The city’s GDP has grown by 3.2% in the first quarter of 2024. This growth pushed the city’s economy beyond AED115 billion ($31.3bn).

[Read more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1437-Dubai%E2%80%99s-GDP-grows-by-3-2%25%2C-reaching-AED-115-billion)

### The UAE introduces tighter anti-money laundering laws 
The updated legislation introduces new committees and enhanced coordination efforts to improve oversight and reporting across financial sectors. 

[Read more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1438-The-UAE-introduces-tighter-anti-money-laundering-laws-to-fight-financial-crime)

### Marjan unveils new luxury beachfront development
Marjan has unveiled a new large-scale waterfront project in the Al Mairid area—Mira Coral Bay. The project will offer 165 villas, 128 townhouses, and 650 apartments.

[Read more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1439-Marjan-Unveils-New-Luxury-Beachfront-Development---Mira-Coral-Bay)

## Hot off the press!

### Lewis Allsopp - The Finance World
Top 50 Visionary Tycoons of the UAE Real Estate Industry

[Read more](https://thefinanceworld.com/dubai-uae-real-estate-tycoons-icons-2024/)

Dubai's Weekly News Snapshot: The Ampersand 16-08-2024

It’s definitely a great time to buy property in Dubai’s dynamic real estate market and with the city being one of the most affordable with the highest capital appreciation rates globally - there really isn’t a better time.

However, it's essential to prepare your finances thoroughly to ensure a smooth and successful mortgage application process.

## What is Dubai's mortgage landscape like?

Before diving into your finances, it's crucial to understand the mortgage landscape in Dubai. 

The UAE Central Bank regulates mortgage lending, and several local and international banks offer mortgage products. Mortgage terms, interest rates, and eligibility criteria can vary, so it's essential to research and compare different options in Dubai. 

## Different types of mortgages

**1. Fixed-rate mortgages:** The interest rate in these types of mortgages remains constant throughout the loan term, providing predictability in monthly payments and ease. This is highly recommended for people with fixed incomes who need a monthly fixed payment. 

**2. Variable-rate mortgages:** The interest rate can fluctuate based on market conditions, which might lead to varying monthly payments, this is more set for those who can comfortably afford a mortgage.

**3. Offset mortgages:** These link your savings account to your mortgage, reducing the interest you pay on the loan. Often chosen by buyers for off-plan properties and large-scale properties. 

## What is the eligibility criteria?

To qualify for a mortgage in Dubai, you generally need to meet the following criteria:

- Minimum age of 21 years
- Minimum monthly income (varies by the chosen bank and your occupation)
- Good credit history
- Employment history and stability

## How to prepare your finances

**Step 1: Assess your finances in advance**

The first step in preparing your finances for a mortgage is to assess your current financial situation. 

This involves evaluating your monthly income, expenses, savings, and debt levels. Based on this you can give yourself an idea of how much you can afford with a mortgage - what helps is also looking through a [mortgage calculator](https://www.allsoppandallsopp.com/dubai/properties/mortgages). 

**Step 2: Calculate your debt-to-income ratio**

Your debt-to-income (DTI) ratio is a critical factor that lenders consider before giving/approving your mortgage. 

A debt-to-income ratio measures your monthly debt payments against your gross monthly income. A lower DTI ratio indicates better financial health and a higher likelihood of mortgage approval.

Fun fact: Lenders in Dubai typically prefer a DTI ratio of 50% or lower.

**Step 3: Review your credit report**

A good credit history is crucial for securing a mortgage - of course!

So you need to obtain your credit report from Al Etihad Credit Bureau and review it for any discrepancies or unpaid debts. A higher credit score increases your chances of mortgage approval and favourable interest rates.

This report helps with a pre-approval so it's best to have it at hand sooner than later. 

**Step 4: Start saving for your down payment** 

For any mortgage sale, a minimum down payment is mandatory so it's always good to save ahead for that. In Dubai, the minimum down payment requirement varies based on your residency status and the property's value. As a guideline, you should follow:

- For expatriates, a minimum of 20% down payment is required for properties valued under AED 5 million.
- For UAE nationals, the minimum down payment is 15% for properties valued under AED 5 million.

For properties valued above AED 5 million, the down payment requirement increases to 30% for expatriates and 25% for UAE nationals. 

**Step 5: Work on those debts (if any)**

It's always good to stay ahead of the game and reduce any existing debts as it can improve your DTI ratio and increase your chances of mortgage approval. 

You want to focus on paying off high-interest debts, such as credit card balances and personal loans, before applying for a mortgage as this looks much better to banks. 

Here are some tips to reduce your debt quickly:

1. Debt snowball method: Pay off smaller debts first, then use the freed-up funds to tackle larger debts.

2. Debt avalanche method: Prioritise debts with the highest interest rates to minimise overall interest payments.

**Step 6: Have a more stabilised income record** 

Lenders prefer applicants with stable employment and a steady income. 

Aim to maintain an income stream via employment with your current employer for at least six months before applying for a mortgage. If you're self-employed, ensure you have a consistent income history for the past two to three years as you will be asked for your bank statements. 

**Step 7: Build a budget**

When buying property in Dubai, there are additional costs beyond the down payment and monthly mortgage payments, and it helps to save a lot of time for these costs. These may include:

- Property registration fee: 4% of the property value
- Real estate agent commission: Typically 2% of the property value
- Mortgage registration fee: 0.25% of the loan amount
- Valuation fee: AED 2,500 to AED 3,500
- Property insurance: This is based on your property value and insurance provider

Budget for these costs ahead of time so that you can avoid financial strain during the mortgage process.

**Step 8: Get your pre-approval sorted**

Obtaining a mortgage pre-approval from a lender can strengthen your position as a serious buyer not just to banks, but to property agents and sellers. 

Having this helps to have a clear idea of how much you can borrow so you can set a realistic budget for your property search. Pre-approval also speeds up the final mortgage approval process once you find your property.

**Step 9: Consult with a mortgage broker in advance**

A mortgage advisor can help give you market insights and guidance throughout the mortgage application process. They can help you compare different mortgage products, understand the fine print, and choose the best option for your financial situation.

Mortgage advisors are also able to negotiate with all the banks to get you the best payment terms that suit you and your budget.

Our in-house experts can definitely be of help too! [Drop us a line](https://wa.me/97144294444) to work around your mortgage and to help with your property search!

pexels-leeloothefirst-8962468.jpg

Managing mortgages: How can you prep your finances for a mortgage?

## Don't Make These Mistakes When Buying And Selling Your Property

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How can you speed up your property deal? And how long should a transaction really take?

This week, Paul Kelly, our Operations Director, sits down with Jess Stephenson, our Head of Sales Progression, to uncover the secrets to a smoother transaction. Learn about common mistakes to avoid, expert tips, and how our team pulled off a last-minute deal at a private jet terminal!

## This week’s hottest headlines!

### Dubai South’s beachfront announces 90% completion

The first phase of The Pulse Beachfront consists of 251 units and it is slated for completion by year-end. Upon launch, all 788 villas and townhouses were quickly sold out with the high demand and appeal of this unique development.

[Read more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1428-Dubai-South%E2%80%99s-beachfront-announces-90%25-completion!)

### Dubai-based businesses have a new corporate tax deadline for June-licensed companies

The UAE Federal Tax Authority has set an important deadline for businesses licensed in June to submit their Corporate Tax registration applications by August 31, 2024. This deadline follows the Federal Tax Authority Decision No. 3 of 2024, which was implemented on March 1, 2024.

[Read more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1426-Dubai-based-businesses-have-a-new-corporate-tax-deadline-for-June-licensed-companies-)

### Commercial air taxi flights are set to start in Dubai as early as 2025

With the help of the Dubai-based private aviation operator, Air Chateau, Dubai is set to welcome a new fleet of private air taxis, aiming to make travel faster and more efficient. They are capable of carrying up to five passengers plus a pilot, with speeds reaching up to 180 km/h.

[Read more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1425-Air-taxis-are-on-their-way-to-Dubai%2C-and-here's-when-you-can-take-your-first-ride!-)

### Dubai Airport hits record numbers, with nearly 45 million passengers in H1

Dubai International Airport (DXB) is buzzing with activity, having welcomed nearly 45 million passengers in the first half of the year alone - a solid 8% jump compared to last year! Airport officials are now predicting to welcome a record-breaking 91.8 million passengers by the end of the year.

[Read more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1432-Dubai-Airport-hits-record-numbers%2C-with-nearly-45-million-passengers-in-H1!)

## HOT OFF THE PRESS!

### Lewis Allsopp - CW Property

What are Dubai’s top 10 high-rental yielding communities?

[Click here to read](https://property.constructionweekonline.com/emagazines/?id=5134) what Lewis has to say in the print edition of CW Property!

Dubai's Weekly News Snapshot: The Ampersand 09-08-2024

## What It Really Takes To Be A Top-Earning Agent in Dubai

<iframe width="560" height="315" src="https://www.youtube.com/embed/YnTSOwdjK7M?si=BvW059QmVJ7vwcd-" 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 Recruitment Director, Kameron Hutchinson as he speaks with our Managing Director, Marc Walters. 

Tune in to hear about Marc’s inspiring journey from Liverpool to Dubai, his secrets to real estate success and what it really takes to be the best of the best!

## This week’s hottest headlines!

### Dubai welcomed 9.3 million tourists in H1 2024

The latest data from the Dubai Department of Economy and Tourism highlights the city's growing performance in tourism - marking a remarkable 9% rise from 2023 and an overall increase in western tourism to 9.31 million tourists! 

Read more

### Launching luxury: Samana Developers announce their newest project in Dubailand

Samana Developers have come out with their second launch in the span of one month - Samana Avenue in Dubailand. This property is set to create an affordable luxury space for buyers, featuring 165 units spanning 16 floors.

Read more. 

### RTA announces an AED 165 million plan to expand bridges across Sheikh Zayed Road

In order to ease traffic around one of Dubai’s busiest malls, RTA plans to construct a new bridge on Sheikh Zayed Road and make several other improvements around Mall of the Emirates. The key feature of this project is a 300-metre bridge that will provide direct access to the Mall of the Emirates parking for drivers coming from Abu Dhabi and Jebel Ali.

Read more

## HOT OFF THE PRESS!

### Lewis Allsopp - Arabian Business

Is it the right time to invest in a villa?

Click here to read about what our Chairman, Lewis Allsopp has to suggest.

### Allsopp & Allsopp Private Office - Construction Week

In case you missed it, our Private Office recorded an exceptional AED105M sale in Tilal Al Ghaf! The record-breaking sale was for an off-plan unit on the prestigious Lanai Islands.

Read about the sale here

## Company Updates

### Off-plan opulence: Take a look at this investor's haven in DAMAC Hills 2!

![a0O4V00000Naup3UAB_m_WhatsApp Image 2024-07-02 at 11.04.17.jpeg](https://strapiallsopp.s3.eu-west-1.amazonaws.com/a0_O4_V00000_Naup3_UAB_m_Whats_App_Image_2024_07_02_at_11_04_17_32ce68b37f.jpeg)

Come home to this three-bedroom in Amargo 2, DAMAC Hills 2, featuring a landscaped garden, a two-car garage and a range of amenities at your doorstep with impressive returns! 

Handover is set for this month, with bookings open for viewings. 

Book a viewing, [contact Sahil Adnani at +971552215632](tel:+971552215632) 
Trakheesi permit - 65488697316




Dubai's Weekly News Snapshot: The Ampersand 02-08-2024

## Game-Changing Tips For Commercial Real Estate Success

<iframe width="560" height="315" src="https://www.youtube.com/embed/M2t0ZQSuZWg?si=yLn4x_sLX2v9pg35" 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, join our Recruitment Director; Kameron Hutchinson alongside our Head of Commercial; Jade Simpson to chat about all things commercial real estate, the future commercial hubs and areas, and how Dubai’s commercial market continues booming amidst the global slowdown. 

## This week’s hottest headlines!

### Emaar announces phase 2 of The Valley

Emaar Properties has announced the launch of Phase Two of The Valley, an expansion that promises to enhance Dubai’s first true suburban community. This new phase will feature expansive homes with three-bedrooms going up to five bedrooms, starting from AED 2.7 million.

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1414-Emaar-announces-phase-2-of-The-Valley). 

### Aldar expands their Dubai portfolio with new properties on the horizon!

Abu Dhabi-based developer; Aldar Properties is set to expand their footprint in Dubai’s market with two upcoming projects; their first commercial project in Dubai and the acquiring of '6 Falak’ in Dubai Internet City.

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1412-Aldar-expands-its-Dubai-portfolio-with-new-properties-on-the-horizon!-).

### RTA announces a brand-new exit, slashing travel time by 4 minutes!

The RTA's newest project is focused on expanding Exit 55 on Sheikh Mohammed bin Zayed Road, which leads to Al Rebat Street is going to reduce travel time by four minutes, an effective 60% reduction from Miridf to Business Bay Crossing.

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1416-RTA-slashes-travel-time-by-4-minutes-with-a-new-exit!-). 

## HOT OFF THE PRESS!

### Paul Kelly - Construction Week

What are the top five affordable areas to rent a villa in Dubai in 2024

[Take a read](https://property.constructionweekonline.com/top-5-affordable-areas-to-rent-a-villa-in-dubai-in-2024/) at our what our Operations Director; Paul Kelly has to suggest!

## Company Updates

### Allsopp & Allsopp’s RECORD SALE - Lanai Island

![Kane's Tilal Al Gaf .png](https://strapiallsopp.s3.eu-west-1.amazonaws.com/Kane_s_Tilal_Al_Gaf_c19c13da8a.png)

The final Lanai Island villa has been sold for an incredible AED 105M by our Associate Director; Kane Wild, and Head of Developer Sales; Fintan Flannelly.

This seven bedroom super villa sets a new benchmark for the highest sale in Tilal Al Ghaf.





Dubai's Weekly News Snapshot: The Ampersand 26-07-2024

## Uncovering Dubai's AED 190 Billion Sales, Million-Dirham Rents, and Off-Plan Boom

![vision board 2024 (5000 x 3125 px)-min_11zon.png](https://strapiallsopp.s3.eu-west-1.amazonaws.com/vision_board_2024_5000_x_3125_px_min_11zon_0b820deac6.png)

On this week’s episode of Taking Care of Business, join Operations Director; Paul Kelly alongside our Managing Director; Marc Walters to chat all things H1 2024. 

Tune in to find out how many new units have been handed over and launched so far, the top sales areas, communities to look out for, the growing luxury market and much more.

## This week’s hottest headlines:

### Dubai unveils a brand-new Jebel Ali beach development project!

The Crown Prince of Dubai; Sheik Hamdan, has announced the launch of Jebel Ali’s brand-new beach development; a 6.6 km beach, set to become a recreational destination with a focus on environmental preservation!

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1398-Dubai-unveils-a-brand-new-Jebel-Ali-beach-development-project!).

### Dubai announces a 64km Dubai Green Spine project!

Dubai-based developer, URB, has announced the Dubai Green Spine project. It is set to be a transformative project aimed at converting the Sheikh Mohammed Bin Zayed Road (E311) into a 64 km long sustainable corridor. 

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1397-Dubai-announces-a-64km-Dubai-Green-Spine-project!). 

### Can we expect another five-star resort in World Islands?

Kleindienst Group has announced The Marbella Resort Hotel, which is worth a striking AED 1 billion! The project is designed to be a 150-key luxury resort and will be the first Vignette Collection property by IHG Hotels and Resorts on the World Islands.

Read [more](https://www.allsoppandallsopp.com/dubai/about-us/news-videos/1396-Can-we-expect-another-five-star-resort-in-the-World-Islands?). 

## HOT OFF THE PRESS!

### Paul Kelly - CW Property

What are the top six affordable rental communities for apartments? 

[Read more](https://property.constructionweekonline.com/top-6-affordable-areas-to-rent-an-apartment-in-dubai-in-2024/) on what our Operations Director; Paul Kelly has to suggest. 

## Company Updates

### A tranquil haven in the heart of DAMAC Hills 2.

![vision board 2024 (5000 x 3125 px)-min_11zon.png](https://strapiallsopp.s3.eu-west-1.amazonaws.com/vision_board_2024_5000_x_3125_px_min_11zon_0b820deac6.png)

Step into your very own serene retreat nestled in the Amazonia neighbourhood of DAMAC Hills 2, in this stunning three-bed villa. 

Enjoy a spacious living/dining area for gatherings, with a large lush backyard and two balconies overlooking city views. 

For sale; AED 1,700,0000

For bookings, [contact Sahil Adnani](tel:+971552215632)

Trakheesi Permit: 65489592815




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Guides

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

The Allsopp & Allsopp October property market snapshot has arrived!

The Allsopp & Allsopp Q3 property market snapshot has arrived!

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

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

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Managing mortgages: How can you prep your finances for a mortgage?

Dubai's Weekly News Snapshot: The Ampersand 09-08-2024

Dubai's Weekly News Snapshot: The Ampersand 02-08-2024

Dubai's Weekly News Snapshot: The Ampersand 26-07-2024

Dubai's Weekly News Snapshot: The Ampersand 12-07-2024