Welcome to our weekly roundup of the latest real estate news and property transactions in Dubai. From notable launches to market trends, here's a recap of the most significant developments from the week of May 13th to May 17th, 2024:
New Off-Plan Launches:
Sobha Shyscape Avenue, Sobha Hartland 2
Sobha Realty has just launched Sobha Skyscape Avenue in the prestigious Sobha Hartland 2 community. This project features elegantly designed high-rise apartments that offer breathtaking views of Dubai’s skyline. Residents can enjoy a range of amenities, including lush landscaped gardens, a fully equipped gym, and an infinity pool. Sobha Skyscape Avenue is set to provide a luxurious urban lifestyle in one of Dubai’s most sought-after neighborhoods.
Seaside by Prestige One, Dubai Islands
Seaside by Prestige One is the latest addition to the Dubai Islands, offering a unique blend of luxury and serenity. This new development boasts waterfront villas and apartments with direct access to private beaches and marinas. The project is designed to cater to those seeking an exclusive coastal lifestyle, with amenities such as gourmet dining, boutique shops, and recreational facilities. Seaside promises to be a premier destination for luxury living in Dubai.
Adeba Azizi, Al Jaddaf
Azizi Developments has launched Adeba Azizi in the vibrant area of Al Jaddaf. This project comprises stylish apartments designed with contemporary aesthetics and smart home features. Adeba Azizi aims to provide residents with a modern, convenient lifestyle, featuring amenities like a rooftop pool, state-of-the-art fitness center, and easy access to Dubai Creek and the city's major attractions. This development is poised to be a key residential destination in Al Jaddaf.
Market Trends this week:
New Visa Requirements for Purchasing Off-plan Properties in Dubai:
If the buyer owns a property valued $545,000 or more, but the construction progress is lower than 50% ➤ the buyer is not yet eligible to obtain the UAE Golden Visa.
Now, instead of the Golden Visa, you can apply for the Investor Visa for 2 years, regardless the construction progress. (Condition: at least $102,000 must be paid).
Dubai property buyers are shifting their hunt to outskirt areas:
New property units in Dubai are approximately 12.5 per cent smaller than older ones, despite prices going up substantially higher in the post-pandemic period. This has prompted many property buyers and investors to move to affordable and outskirts areas to lay hand on larger properties at lower rates, analysts said.
Luxury Office Spaces in high demand with the continuous rise of Dubai residents:
Rising demand for flexible office spaces, including serviced and co-working spaces, reflects changing work models.
Dubai’s office market is on an upward trajectory, buoyed by a resilient regional economic rebound and strong demand from overseas investors and businesses
As Dubai's real estate sector continues to grow and flourish, the latest off-plan launches and market trends highlight the city's enduring appeal as a premier destination for luxury living and investment opportunities. Stay tuned for more updates and insights as we track the dynamic developments shaping Dubai's property landscape.
