Latest news with #PropertyMonitor
Khaleej Times
5 days ago
- Business
- Khaleej Times
Dubai Metro Blue Line: Rents in 9 communities jump up to 43%, set to grow by 30% more
Rents in nine communities which will be connected through Dubai Metro's Blue Line have increased on average 23 per cent since the government announced plan to launch metro in those areas in November 2023. It is anticipated that rents in those communities will see another 30 per cent increase until the completion of the Blue Line over the next four years, outpacing growth in non-metro-connected districts. Data shared by Betterhomes and sourced from Property Monitor and internal figures revealed that Academic City saw highest jump in rentals since November 2023 as studio apartment rates rose from Dh42,000 to Dh60,000 per annum, an increase of 43 per cent. This was followed by Dubai Creek Harbour (30 per cent), Al Warqa and Silicon Oasis (28 per cent), International City 1 and 2 (22 per cent), Ras Al Khor Industrial Area (21 per cent), Mirdif and Dubai Festival City (15 per cent). The 131km long Blue Line will connect nine key districts across Dubai and is set to be completed in September 2029. The nine key districts are projected to be home to over one million residents, as outlined in the Dubai 2040 Urban Master Plan. Historical data from the Dubai Metro Red Line project in 2009 showed a significant impact on property values. Properties within a 15-minute walk of the Red Line saw price increases exceeding 25 per cent, sometimes even higher than Dubai's average. 'The most substantial appreciation, around 40 per cent, was observed in properties located within a 5 to 10-minute walk. Rental values also reflected this trend, with an 8 per cent increase for properties within a 15-minute radius and a 14 per cent rise for those within 5 to 10 minutes,' said Betterhomes. Up to 30% further increase It is expected that the rents will continue their upward trend in the coming years until the completion of the project in four years. Rental prices in the nine key districts linked to the upcoming Dubai Metro Blue Line have risen by an average of 23 per cent since 2023, the real estate brokerage firm said. 'With the line's completion expected to further boost connectivity and demand, rental increases in these areas will outpace growth in non-metro-connected districts and highlighting strong investment potential, especially for studio units,' it said. Rupert Simmonds, leasing director of Betterhomes, said connectivity drives value. 'We've seen it before with the Red Line, and we're seeing it again.' He added that Dubai's rental market is quick to react to infrastructure upgrades, especially when they change how people live and commute. 'We have already seen double-digit gains across multiple districts, and with the completion of the Blue Line on the horizon, we anticipate a further 25 to 30 per cent increase compared to non-connected areas. For investors, this is a clear window of opportunity in high-demand, high-growth locations,' said Simmonds.
Arabian Business
06-05-2025
- Business
- Arabian Business
UAE banks fuel real estate demand surge with lower mortgage rates, extended financing facilities
Banks in the UAE are emerging as the new drivers of demand surge in the property market in the country, luring international and domestic investors with mortgage rates below the UAE Central Bank denominated rates, despite fading expectations of cuts in interest rates any time soon, market players said. Some of the banks are now offering mortgages at below 4 per cent as against the three-month Emirates Interbank Offered Rate (EIBOR) of 4.2 – 4.3 per cent, they said. This, along with the strengthening of currencies like the British pound and euro against the dirham in the wake of the weakening of the US dollar, is triggering a major demand spike for residential real estate, as properties in Dubai have effectively become more affordable for international buyers. by removing the AED 1 million or 50 per cent upfront payment requirement for property-linked golden visas. 'The macroeconomic shifts underway globally triggered by rising tariff and tax rates, and a weakening US dollar in 2025, are driving increased interest in the UAE real estate market, particularly from foreign nationals,' Sawan Karia, Director, Broker Channel at Huspy, a Dubai-based leading player in the mortgage market, told Arabian Business. 'The currency advantage, coupled with economic uncertainty in other global markets, is leading to a notable increase in mortgage activity – not just from ultra-high-net-worth individuals, but also from salaried professionals and non-resident investors who are now choosing to finance property purchases in the UAE,' he said. Karia said while Dubai has long appealed to non-resident buyers, that demand is accelerating now, fuelled by competitive lending rates, long-term residency options, and a high standard of living. Senior executives at some of the city-based investment and real estate consultancies also confirmed the latest mortgage and currency-linked demand surge in the real estate sector. UAE banks stepping up their mortgage play Sector experts said the softening mortgage rate-led demand in the UAE real estate market is evident from the fast-narrowing gap between total market volume and mortgage activity. Banks' willingness to step in with the final payments for off-plan properties bought under front-loaded developer payment plans is helping this, they said. Sankey Prasad, CMD, Colliers Middle East and India, said that with mortgage volumes in Dubai alone surging 24 per cent year-on-year in Q1 2025 as per Property Monitor, banks are clearly stepping in as demand catalysts. 'This will further fuel and stabilise demand for residential units across major micro markets in Dubai,' Prasad told Arabian Business. The Colliers Middle East and India chief executive said UAE banks are now playing a pivotal role in fuelling property market momentum by offering mortgage rates that undercut the central bank's benchmark rate. 'This is a strategic move to capture growing investor appetite amid a prolonged high-interest-rate cycle,' he said. Citing that the British pound gained nearly 4 per cent and the euro over 3 per cent against the UAE dirham since the start of the year, Prasad said: 'This FX-driven affordability, combined with flexible local financing, is intensifying global demand for residential assets in prime districts.' Karia said while the UAE's mortgage market accounted for $62 billion of the $240 billion in total real estate transactions last year, it's important to contextualise that figure. 'One emerging trend is the rise of front-loaded developer payment plans – structures like 70-30 or even 80-20, where the majority of payments are made during construction. 'In response, and in alignment with central bank regulations, several banks are now willing to step in and finance the final payment once buyers have paid at least 50 per cent of the property value,' he said. Industry players said that while such bank financings were earlier limited to Tier 1 developers, they are now seeing this financing model gradually extending to a broader base. As for rate cuts, they said at the beginning of the year, market expectations pointed to as many as five interest rate cuts. 'That outlook has since softened, with most now anticipating just two, or possibly three, cuts,' Karia said. Given that the UAE dirham is pegged to the US dollar, any decision by the US Federal Reserve to lower rates has a direct influence on borrowing costs and the Emirates Interbank Offered Rate (EIBOR). AI boosts mortgage efficiency Market experts said along with the lower mortgage rates, the latest AI-led initiatives in the mortgage sector are also playing a pivotal role in attracting investors to access bank finances in Dubai. Huspy was the first to be off the block in the region, announcing an AI-powered mortgage chatbot on WhatsApp late last month, significantly reducing the time taken to secure a home loan from weeks to just a day. Sector players said that while deeper integrations with banking partners are still under development, the AI-driven initiative is already helping to significantly reduce the time taken to prepare mortgage applications, which typically runs to multiple pages. Real-time checks by company brokers or experts identify missing pages or values outside expected ranges, significantly reducing back-and-forth communication. 'In a market where deals move quickly, there is often little time to unpack bank jargon before committing to a home purchase,' Mo Ghahroudi, VP – AI at Huspy, told Arabian Business. 'Huspy AI addresses this gap by offering real-time responses, based on the most up-to-date bank offers, around the clock,' he said. Sector experts said borrower expectations are evolving quickly on the technology front, with customers increasingly wanting a digital-first experience – one where documents can be submitted online, approvals are faster, and communication is seamless. While banks are working to modernise legacy systems, the industry now faces a pivotal moment – scale up human support to meet today's volume or invest in systems that can sustainably deliver efficiency tomorrow, they said, adding that in the meantime, platforms that bridge this gap are winning borrower trust by offering the speed and simplicity the market now demands.
Business Recorder
05-05-2025
- Automotive
- Business Recorder
What Pakistani-founded Dubizzle Group's recent acquisitions mean for potential UAE IPO
Pakistani-founded, Dubai-based Dubizzle Group - an online marketplace giant whose well-known brands include the property website Bayut and the buying and selling platform dubizzle - recently acquired Property Monitor. The move comes amid buzz of an initial public offering (IPO) in the UAE that could be valued between $500 million and $1 billion. The group was founded by Pakistani brothers Imran and Zeeshan Ali Khan. They co-founded real estate portal in 2006, which later evolved into the Dubizzle Group and which also includes online marketplace OLX Pakistan. A third brother, Haider, joined the venture in 2014. In 2022 the group raised $200 million in a funding round led by US-based Affinity Partners. According to a statement announcing the acquisition, Property Monitor - which offers real estate data, analytics and insights - achieved revenue CAGR of 55% from 2022 to 2024 and attracts more than 7,700 monthly users, primarily real estate agencies and property developers. The idea is that this data will make Dubizzle Group's own offerings more attractive. 'As a trusted and respected brand in the UAE, Property Monitor complements our market-leading platforms Bayut and dubizzle,' the statement quoted Haider, who is CEO of Dubizzle Group – UAE, as saying. Haider added in the statement that the recent move 'reflects our broader strategy of targeted acquisitions that strengthen our ability to deliver an exceptional user experience across the region's real estate and automotive sectors.' The announcement marks Dubizzle Group's third acquisition in two years, 'building on continued expansion in the digital marketplace space in the MENA region.' In February this year, it completed the acquisition of Hatla2ee, a marketplace in Egypt for used and new cars. Last year, it acquired Drive Arabia - a source for automotive news, reviews and car comparisons in the Middle East - to broaden its offering for car buyers and its advertising capability for automotive manufacturers. The group said the acquisition of Property Monitor reflects its strategic approach to M&A – targeting complementary businesses in the MENA region. But that's not all. 'This, and other acquisitions, once integrated, should also help in presenting a robust equity story and track record to potential investors for an eventual IPO,' Adnan Fazli, Middle East Capital Market specialist, told Business Recorder. 'The transaction represents acquisitive growth to help establish competitive advantage in the real estate sector and provide scale to the business,' he added. Meanwhile George Pavel, general manager at trading platform Middle East, said that the acquisition 'is particularly relevant given Dubizzle Group's widely reported IPO plans for 2025.' 'Incorporating Property Monitor enhances Dubizzle's financial profile and growth narrative. This could position the group more firmly as a data-centric technology leader, potentially justifying a higher valuation in its anticipated public offering,' he told Business Recorder. 'A key objective is to merge Property Monitor's comprehensive transaction and supply-side data with the extensive user demand insights derived from Dubizzle's classifieds platforms. This synergy could increase the value delivered to clients like real estate agencies and developers.' he added. The IPO buzz In October 2024 it was reported that Dubizzle Group had mandated Emirates NBD, Goldman Sachs, HSBC and Morgan Stanley for an IPO expected to take place this year. More recently, on April 25 2025, Bloomberg reported that the group is 'sounding out equity investors over the coming weeks and is set to meet investors ahead of a potential IPO', citing people familiar with the matter, who also said the company has been planning a floatation since 2023, and has previously done similar rounds of outreach. Details such as its size and timing are still under discussion, though some of the people said it could raise at least $500 million from a listing, Bloomberg said, adding that representatives for Dubizzle declined to comment. Previous reports have said the valuation could go as high as $1 billion. Meanwhile, the report cited people familiar as saying that competing online portal Property Finder has also been sounding out equity investors on a so-called 'non-deal roadshow'. Property Finder's investor meetings are also laying the groundwork for an eventual IPO, they said. 'The investor push comes amid the continued strength of Dubai's real estate market, where property prices have risen more than 70% in the past four years,' Bloomberg said. Dubai Holding, an investment vehicle owned by the emirate's ruler, is also weighing a listing of two separate real estate portfolios to capitalize on this boom, it added. Meanwhile, stock markets in the UAE are expected to receive between six to eight IPOs this year, with companies raising up to $10 billion amid strong investor appetite, the chief executive of Emirates NBD Capital said in March. Copyright Business Recorder, 2025
Mid East Info
25-04-2025
- Business
- Mid East Info
Sharjah's Island Property Market Draws Hundreds of Investors - Middle East Business News and Information
Ajmal Makan to Unveil Waterfront Projects as Demand for Coastal Living Grows SHARJAH, UAE – With growing appetite for high-end coastal real estate in the UAE, Ajmal Makan Real Estate Development is set to host an exclusive showcase of its flagship island developments, underlining Sharjah's transformation into a luxury waterfront destination. International and regional investors and homebuyers are turning their focus to Sharjah's coastal real estate market, as hundreds attended a showcase by Ajmal Makan Real Estate Development today, featuring new island-based residential projects within its Dh25 billion master-planned city. The showcase has presented Al Thuraya Island, The View Island, and Blue Beach Residence, all part of Ajmal Makan City – Sharjah Waterfront. Spanning 60 million square feet and designed to accommodate over 60,000 residents across eight islands, the development is one of the largest mixed-use waterfront projects in the Northern Emirates. 'The demand for waterfront properties in Sharjah is accelerating, driven by limited supply and a growing interest in lifestyle-led investments,' said Sultan Al Shakrah, CEO of Ajmal Makan Real Estate Development. 'Through this event, we're offering a first-hand look at projects that represent not only architectural excellence but also long-term value and community-building.' As investors increasingly shift their focus to Sharjah's emerging premium locations, Ajmal Makan's integrated island communities offer a unique proposition: private island living, strong rental yields, and a sustainable lifestyle set against expansive beaches and green space. Sharjah's Real Estate Momentum: Sharjah's real estate sector has seen steady growth, with increasing interest from both domestic and international buyers. With hundreds of investors registered and strong interest from both regional and international buyers, Ajmal Makan's event is set to spotlight Sharjah's rising position in the luxury waterfront real estate scene . From capital appreciation potential to strategic coastal expansion, this is a timely story on how Sharjah is turning global investor heads. Approximately 60% of buyers at the event are end-users, while 40% are investors targeting rental yields and long-term appreciation. Nationalities represented include buyers from the UAE, GCC, India, Pakistan, Russia, China, and Europe. Meeting UAE's Rising Demand for Waterfront Living: Across the UAE, coastal properties are in high demand. According to Property Monitor, waterfront residences have seen a 17% year-on-year price increase, while select areas in Sharjah have recorded up to 20% growth. Sharjah remains one of the few emirates offering freehold beachfront ownership to all nationalities—a key factor attracting global investors seeking both capital growth and lifestyle appeal. Rental yields for waterfront properties in Sharjah are estimated between 5%–8%, according to Bayut & dubizzle, further positioning Ajmal Makan as a compelling investment. 'This is exactly where Ajmal Makan delivers—blending exclusivity, community, and accessibility into a future-ready model for coastal living,' added Al Shakrah. Repeat Buyer Confidence: A notable share of attendees are expected to be repeat buyers—investors who participated in earlier phases such as Sun Island and Blue Bay Walk. With Phase 1 and 2 of earlier launches sold out, the event underscores rising confidence in Ajmal Makan's long-term vision and Sharjah's real estate future. As waterfront property becomes increasingly scarce, Ajmal Makan City positions itself as a blueprint for sustainable, high-end urban development—blending private island living with economic and lifestyle opportunities. About AJMAL MAKAN Real Estate Development: AJMAL MAKAN Real Estate Development is a visionary property developer in the UAE, committed to redefining the real estate landscape. With a focus on integrating cutting-edge design, eco-friendly practices, and community-centric amenities, AJMAL MAKAN sets new benchmarks in integrating modern architecture with natural surroundings. With an extensive range of projects including waterfront villas, townhouses, and premium beachfront apartments, AJMAL MAKAN is dedicated to setting new benchmarks in sustainable urban living while contributing to Sharjah's reputation as a hub for world-class real estate.
Zawya
23-04-2025
- Business
- Zawya
Sharjah's Island Property Market Draws Hundreds of Investors
SHARJAH, UAE – With growing appetite for high-end coastal real estate in the UAE, Ajmal Makan Real Estate Development is set to host an exclusive showcase of its flagship island developments, underlining Sharjah's transformation into a luxury waterfront destination. International and regional investors and homebuyers are turning their focus to Sharjah's coastal real estate market, as hundreds attended a showcase by Ajmal Makan Real Estate Development today, featuring new island-based residential projects within its Dh25 billion master-planned city. The showcase has presented Al Thuraya Island, The View Island, and Blue Beach Residence, all part of Ajmal Makan City – Sharjah Waterfront. Spanning 60 million square feet and designed to accommodate over 60,000 residents across eight islands, the development is one of the largest mixed-use waterfront projects in the Northern Emirates. 'The demand for waterfront properties in Sharjah is accelerating, driven by limited supply and a growing interest in lifestyle-led investments,' said Sultan Al Shakrah, CEO of Ajmal Makan Real Estate Development. 'Through this event, we're offering a first-hand look at projects that represent not only architectural excellence but also long-term value and community-building.' As investors increasingly shift their focus to Sharjah's emerging premium locations, Ajmal Makan's integrated island communities offer a unique proposition: private island living, strong rental yields, and a sustainable lifestyle set against expansive beaches and green space. Sharjah's Real Estate Momentum Sharjah's real estate sector has seen steady growth, with increasing interest from both domestic and international buyers. With hundreds of investors registered and strong interest from both regional and international buyers, Ajmal Makan's event is set to spotlight Sharjah's rising position in the luxury waterfront real estate scene. From capital appreciation potential to strategic coastal expansion, this is a timely story on how Sharjah is turning global investor heads. Approximately 60% of buyers at the event are end-users, while 40% are investors targeting rental yields and long-term appreciation. Nationalities represented include buyers from the UAE, GCC, India, Pakistan, Russia, China, and Europe. Meeting UAE's Rising Demand for Waterfront Living Across the UAE, coastal properties are in high demand. According to Property Monitor, waterfront residences have seen a 17% year-on-year price increase, while select areas in Sharjah have recorded up to 20% growth. Sharjah remains one of the few emirates offering freehold beachfront ownership to all nationalities—a key factor attracting global investors seeking both capital growth and lifestyle appeal. Rental yields for waterfront properties in Sharjah are estimated between 5%–8%, according to Bayut & dubizzle, further positioning Ajmal Makan as a compelling investment. 'This is exactly where Ajmal Makan delivers—blending exclusivity, community, and accessibility into a future-ready model for coastal living,' added Al Shakrah. Repeat Buyer Confidence A notable share of attendees are expected to be repeat buyers—investors who participated in earlier phases such as Sun Island and Blue Bay Walk. With Phase 1 and 2 of earlier launches sold out, the event underscores rising confidence in Ajmal Makan's long-term vision and Sharjah's real estate future. As waterfront property becomes increasingly scarce, Ajmal Makan City positions itself as a blueprint for sustainable, high-end urban development—blending private island living with economic and lifestyle opportunities. About AJMAL MAKAN Real Estate Development: AJMAL MAKAN Real Estate Development is a visionary property developer in the UAE, committed to redefining the real estate landscape. With a focus on integrating cutting-edge design, eco-friendly practices, and community-centric amenities, AJMAL MAKAN sets new benchmarks in integrating modern architecture with natural surroundings. With an extensive range of projects including waterfront villas, townhouses, and premium beachfront apartments, AJMAL MAKAN is dedicated to setting new benchmarks in sustainable urban living while contributing to Sharjah's reputation as a hub for world-class real estate.
