Saudi Arabia’s real estate market continues its upward trajectory this year with a substantial increase in the number of delivered residential units (27,500) in Riyadh and Jeddah in H1 2024, according to a new survey by JLL. The residential and hospitality sectors stood out for their strong performance, supported by infrastructure development, strategic government-backed initiatives,…
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Dubai and Abu Dhabi have secured a place among the top 5 improvers in the transparency score globally, according to JLL’s 2024 Global Real Estate Transparency Index (GRETI). Dubai ranked 3rd while Abu Dhabi 5th for improvements made between 2022 and 2024, driven by enhanced digital capabilities, strong anti-money laundering (AML) and beneficial ownership (BO)…
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Home to major multinationals and start-ups, the Dubai Multi Commodities Centre (DMCC) drove business and real estate expansion in the first half of this year, adding 1,023 new member companies as the business district approaches 25,000companies. DMCC, the world’s most interconnected Free Zone, now accounts for 15% of all foreign direct investment (FDI) in Dubai,…
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Qatar’s commercial real estate sector is expected to reach $16.8bn this year and $24.19 billion by 2029, growing at a CAGR of 7.56%, Mordor Intelligence stated in its latest report. The peninsular Arab country is one of the fastest-advancing economies in the world. Analysts note that some of the major factors driving the growth of…
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The real estate market in Dubai continues to thrive with property sales in July reaching a new peak for 2024 at AED 49.6 billion, up 31.63% in value on an annual basis, according to fäm Properties, the largest and most technologically advanced real estate company ever built in the emirate. Last month’s total of 15,994…
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Real estate and private equity take the lead in Middle East financial institutions (FIs) portfolio, according to Preqin, a London-based alternative assets data provider. An alternative asset is an investment in any asset class excluding capital stocks, bonds, and cash. The UK-based investment data company identified some of the trends emerging from its Middle East…
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Frank Knight projected that total construction output value in Saudi Arabia will reach $181.5 billion by the end of 2028, making the kingdom the largest construction market in the world. This comes as Riyadh aims to overhaul and diversify its economy and reduce its dependence on oil under its ambitious Vision 2030 project. In 2023,…
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In the first quarter of 2024, the real estate sector in Saudi Arabia has experienced a surge in residential property transactions, according global consultancy firm CBRE. The number of sales transactions registered in Riyadh totalled 23,900, recording a year-on-year increase of 77.0%. The value of residential properties sold over this period stood at SAR 32.7…
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High-net-worth-individuals (HNWIs) globally are projected to spend $4.4 billion on residential real estate in Dubai, according to a new report by Knight Frank. The 2024 edition of the signature report in the Destination Dubai series, which surveyed 317 high-net-worth individuals (HNWIs) – 217 around the world and 100 GCC-based expat HNWIs, revealed that the Gulf…
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UAE based proptech start-up Keyper, has officially announced a Rent Now Pay Later (RNPL) service, meaning Dubai residents can pay their rent monthly with their credit card. Traditionally, rent in Dubai has been paid with post-dated cheques (usually between one and six, depending on the landlord) over a 12-month period. Keyper will now make it…
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