Latest news with #AED2.7
Gulf Insider
08-04-2025
- Business
- Gulf Insider
Dubai Property Market Grows in Q1 2025, Eyes Ownership
Dubai's real estate market recorded substantial growth in the first quarter of 2025, with data from the Dubai Land Department (DLD) showing a 29 per cent year-on-year increase in total sales value to AED114 billion. Sales volume rose by 23 per cent compared to the same period in 2024. Property firm Allsopp & Allsopp reported even stronger figures, with a 58 per cent year-on-year increase in total sales transaction value for Q1 2025 and a 7 per cent rise in sales volume compared to Q4 2024. 'The 65 per cent year-on-year increase in villa and townhouse sales is a clear indication of strong investor confidence and a desire for long-term residential opportunities. Whether you're looking for a family home or a strategic investment, this is the moment to take advantage of Dubai's market,' Lewis Allsopp, Chairman of Allsopp & Allsopp said. The rental market is showing signs of transformation amid the sales boom. The DLD reported an average sales price of AED2.7 million in Q1 2025, making homeownership increasingly accessible. This shift is reflected in a 9 per cent decline in rental contract renewals and a 19 per cent drop in new rental contracts. 'While we don't anticipate a sharp decline in Dubai rental prices in the immediate future, the increasing move towards homeownership is a notable trend' Allsopp said, adding 'the 13 per cent decrease in rental transaction volume suggests a potential recalibration of the rental market and this could lead to more stability as supply adjusts to demand and landlords adapt.' Key data from Q1 2025 includes: 58 per cent increase in sales transaction value year-on-year (Allsopp & Allsopp) The average price increased by 31 per cent in Q1 2025 (Allsopp & Allsopp) 43 per cent increase in Q1 for villa/townhouse sales transaction volume (Allsopp & Allsopp) 29 per cent increase in total sales transaction value year-on-year (Dubai Land Department) 19 per cent decline in new rental renewal contracts in Q1 (Dubai Land Department) Also read: Dubai World Cup Sets New Guinness World Record With 5,983 Drones
Arabian Business
07-04-2025
- Business
- Arabian Business
Dubai real estate: Property market sees strong Q1 2025 growth, shift towards homeownership
Dubai's real estate market recorded substantial growth in the first quarter of 2025, with data from the Dubai Land Department (DLD) showing a 29 per cent year-on-year increase in total sales value to AED114 billion. Sales volume rose by 23 per cent compared to the same period in 2024. Property firm Allsopp & Allsopp reported even stronger figures, with a 58 per cent year-on-year increase in total sales transaction value for Q1 2025 and a 7 per cent rise in sales volume compared to Q4 2024. View this post on Instagram A post shared by Allsopp & Allsopp (@allsoppandallsopp) Dubai real estate growth 'The 65 per cent year-on-year increase in villa and townhouse sales is a clear indication of strong investor confidence and a desire for long-term residential opportunities. Whether you're looking for a family home or a strategic investment, this is the moment to take advantage of Dubai's market,' Lewis Allsopp, Chairman of Allsopp & Allsopp said. The rental market is showing signs of transformation amid the sales boom. The DLD reported an average sales price of AED2.7 million in Q1 2025, making homeownership increasingly accessible. This shift is reflected in a 9 per cent decline in rental contract renewals and a 19 per cent drop in new rental contracts. 'While we don't anticipate a sharp decline in Dubai rental prices in the immediate future, the increasing move towards homeownership is a notable trend' Allsopp said, adding 'the 13 per cent decrease in rental transaction volume suggests a potential recalibration of the rental market and this could lead to more stability as supply adjusts to demand and landlords adapt.' Key data from Q1 2025 includes: 58 per cent increase in sales transaction value year-on-year (Allsopp & Allsopp) The average price increased by 31 per cent in Q1 2025 (Allsopp & Allsopp) 43 per cent increase in Q1 for villa/townhouse sales transaction volume (Allsopp & Allsopp) 29 per cent increase in total sales transaction value year-on-year (Dubai Land Department)
Dubai Eye
27-03-2025
- Business
- Dubai Eye
Emaar Development approves AED 2.7 bln dividend for 2024
Emaar Development shareholders have approved its Board of Directors' proposal to distribute a dividend of AED2.7 billion ($740 million), representing 68 per cent of the share capital. The announcement came during the Emaar Annual General Meeting, where the Board of Directors reviewed the company's financial performance for 2024 and discussed its future growth strategy. The Board's report on the company's activities and financial position, as well as the Auditor's report, were also approved. Emaar Development reported property sales of AED 65.4 billion ($17.8 billion) in 2024, reflecting a 75 per cent increase compared to the previous year. Total revenue for the year amounted to AED 19.1 billion ($5.2 billion), up 61 per cent from 2023, while net profit before tax increased by 20 per cent to AED 10.2 billion ($2.8 billion). Founder of Emaar, Mohamed Alabbar, commented, 'Our 2024 results are a testament to our focus on excellence, innovation, and customer satisfaction. Every project we launch is about more than just real estate, it's about building communities that enhance the lives of residents and contribute to Dubai's global appeal.' He added that by embracing technology and sustainability, Emaar aims to redefine modern living while ensuring lasting value for customers and stakeholders.
Trade Arabia
27-03-2025
- Business
- Trade Arabia
Emaar Development approves $740m dividend for 2024
Emaar Development, the UAE's premier property development company specialising in build-to-sell assets and majority-owned by Emaar Properties, has announced that its shareholders have approved the Board of Directors' proposal to distribute a dividend of AED2.7 billion ($740 million), representing 68% of the share capital. The announcement came during the Emaar Annual General Meeting, where the Board of Directors reviewed the company's financial performance for 2024 and discussed its future growth strategy. The Board's report on the company's activities and financial position, as well as the Auditor's report, were also approved. Emaar Development reported property sales of AED65.4 billion ($17.8 billion) in 2024, reflecting a 75% increase compared to the previous year. Total revenue for the year amounted to AED19.1 billion ($5.2 billion), up 61% from 2023, while net profit before tax increased by 20% to AED10.2 billion ($2.8 billion). Mohamed Alabbar, Founder of Emaar, said: "Our 2024 results are a testament to our focus on excellence, innovation, and customer satisfaction. Every project we launch is about more than just real estate - it's about building communities that enhance the lives of residents and contribute to Dubai's global appeal."
Hi Dubai
27-03-2025
- Business
- Hi Dubai
Emaar Development Approves AED2.7 Billion Dividend Amid Strong Financial Growth
Emaar Development shareholders have approved a dividend distribution of AED2.7 billion (US$740 million), representing 68% of the company's share capital. The decision was announced at the company's Annual General Meeting (AGM), where the Board of Directors reviewed Emaar's robust financial performance for 2024 and outlined its future growth strategy. The AGM also saw the approval of the Board's report on the company's operations, the financial position, and the Auditor's report. Emaar Development reported an exceptional surge in property sales, reaching AED65.4 billion (US$17.8 billion) in 2024, a 75% increase compared to the previous year. The company's total revenue climbed to AED19.1 billion (US$5.2 billion), marking a 61% year-on-year growth. Additionally, net profit before tax rose by 20% to AED10.2 billion (US$2.8 billion). Mohamed Alabbar, Founder of Emaar, attributed this success to the company's commitment to excellence, innovation, and customer satisfaction. He emphasized that Emaar's developments go beyond real estate, focusing on community-building and enhancing Dubai's global appeal. 'Our 2024 results are a testament to our vision. By embracing technology and sustainability, we are shaping modern living and ensuring long-term value for our customers and stakeholders,' Alabbar stated. Emaar Development's remarkable financial growth and strategic direction position it as a key driver of Dubai's real estate sector, reinforcing the city's status as a global investment hub. News Source: Emirates News Agency
