
Damac Maison Aykon City wins ‘Best Luxury Hotel Apartments' at Arabian Travel Awards
Post Views: 94
Damac Maison Aykon City was recognised as the'Best Luxury Hotel Apartments' at the seventh edition of the Arabian Travel Awards 2024. 'We are delighted this evening to be awarded two very prestigious awards, and I would like to thank Arabian Travel Awards for their nomination in considering our properties, Paramount Hotel Dubai for lifestyle and for our new property, DAMAC Maison Aykon City. We are just delighted by these awards and nothing can ever be achieved without having a fabulous team and thank you very much for your hard work and dedication. '-Dean Rossilli, SVP, DAMAC Hotels and Resorts
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Arabian Business
a day ago
- Arabian Business
Dubai real estate: Property market shows strength as stock index hits 17-year high
Dubai's residential property market continues to attract global investment as the emirate's main stock index rose over 25 per cent to reach a 17-year high in May 2025, according to Oia Properties' latest market analysis. The property consultancy attributes the market strength to Dubai's GDP growth of 5-6 per cent for the year, coupled with the government's diversification strategy that has seen non-oil sectors contribute over 70 per cent of the emirate's GDP. 'Dubai is currently considered one of the hottest residential real estate markets in the world,' the company stated in its H2 2025 outlook released on June 10. FDI and tourism fuel property momentum Tourism figures support the growth narrative, with 19 million visitors recorded in 2024, representing a 12 per cent year-on-year increase. Foreign direct investment in Dubai increased by 15 per cent year-on-year in early 2025, with international buyers accounting for over 45 per cent of real estate transactions in 2025 to date. The market has also witnessed a 30 per cent year-on-year growth in foreign-owned real estate firms between 2024-2025, reflecting overseas appetite for Dubai property investment. Branded residences, suburban shift, villa demand Branded residences command a 30-40 per cent premium over non-branded luxury units, with inventory growing by 23 per cent in 2024. New launches include Chelsea Residences by Damac, Trump International Hotel & Tower Dubai, and Bugatti Residences by Binghatti. Over 60 per cent of buyers in this category are overseas investors or second-home purchasers. Suburban shift has seen price appreciation of 10-15 per cent year-on-year as buyers seek alternatives to peaked urban prices. Areas such as Dubailand and Dubai South recorded a 35 per cent increase in transaction volume in early 2025. Rental yields in suburban zones average 6-7 per cent, compared to 4-5 per cent in prime urban centres. Villa demand continues the surge that began during COVID, with luxury villa prices rising 20-25 per cent from 2022 to early 2025. Villas now account for 28 per cent of total residential sales, up from 18 per cent in 2022. However, luxury villa supply is set to increase by 12-15 per cent over the next 12 months, potentially leading to a price correction of 5-10 per cent in late 2025 to 2026. Top Dubai property investment hotspots revealed Dubai South leads the rankings with a 10/10 growth projection. Average apartment sale prices stand at AED 954 per square foot, targeting investors and professionals linked to Expo City and Al Maktoum Airport developments. Dubai Hills Estate received a 9/10 rating with average villa prices of AED 10 million. The area targets affluent families and executives seeking properties with golf course views, with a projected annual appreciation rate of 9.1 per cent. Arabian Ranches also scored 9/10, with average villa prices of AED 1.9 million. Prices rose by up to 13 per cent in Q3 2024, driven by family-friendly amenities and suburban appeal. Palm Jumeirah earned an 8/10 rating with average villa prices of AED 25 million, targeting ultra-high-net-worth individuals. The area anticipates an annual appreciation rate of 7.7 per cent. Dubai Marina received an 8/10 score with average apartment prices of AED 2.3 million. The waterfront location recorded a 7.8 per cent year-on-year price increase. Business Bay scored 7/10 with average apartment prices of AED 1.9 million, recording a 5.9 per cent year-on-year price increase driven by its location near Downtown Dubai. Downtown Dubai received a 6/10 rating with average apartment prices of AED 2.5 million and a 2.9 per cent year-on-year price increase. Jumeirah Village Circle scored 6/10 despite an 8.3 per cent year-on-year price decline, with average apartment prices of AED 880,000. The area maintains high rental yields and transaction volumes, indicating potential for recovery.


Khaleej Times
2 days ago
- Khaleej Times
Hotspots, key trends underpin Dubai real estate boom
Three standout trends, including a big uptick in branded residences, a shift to the suburbs, and luxury villa demand surge are driving Dubai's property market buoyancy as the emirate's economy sustains a boom with foreign direct investment climbing 15 per cent year-on-year in early 2025. Branded residences, currently commanding a 30 to 40 per cent premium over non-branded luxury units, are booming. New launches like Chelsea Residences by Damac, Trump International Hotel & Tower, and Bugatti Residences by Binghatti fuelled a 23 per cent inventory rise in 2024. Yet demand — led by over 60 per cent overseas investors and second-home buyers — outstrips supply in prime areas, a report by Oia Properties said. Foreign buyers, making up over 45 per cent of real estate transactions this year, and a 30 per cent rise in new foreign-owned real estate firms from 2024 to 2025, signal increasing global appetite for Dubai's success story. Second, a shift to the suburbs reflects buyers seeking value as urban prices peaked in 2024. Suburban areas like Dubailand and Dubai South saw a 35 per cent spike in transaction volume in early 2025, with price appreciation of 10 to 15 per cent and rental yields of 6 to 7 per cent, outpacing the 4 to 5 per cent in urban centers, according to Oia Properties' latest outlook report. Third, luxury villa demand, sparked during Covid, continues strong, with prices up 20 to 25 per cent from 2022 to early 2025. Villas now comprise 28 per cent of residential sales, up from 18 per cent in 2022, though a 12 to 15 per cent supply increase over the next year may temper prices by five to 10 per cent into 2026. The report unveils the hottest spots and key trends shaping Dubai's property landscape for the second half of 2025, promising golden opportunities for savvy investors. It pinpoints key investment hotspots for H2 2025. Jumeirah Village Circle (JVC) offers apartments at an average Dh880,000, targeting young professionals and small families. Despite an 8.3 per cent price dip year-on-year, strong rental yields and transaction volumes signal resilience and recovery potential, earning a 6/10 growth projection. Business Bay, with apartments averaging Dh1.9 million, appeals to urban professionals near Downtown Dubai, posting a 5.9 per cent price rise and a 7/10 growth score. Dubai South, at Dh954 per square foot for apartments, draws investors and professionals tied to Expo City and Al Maktoum Airport, boasting a top 10/10 growth outlook amid major infrastructure projects. Dubai Marina, a waterfront gem, sees apartments at Dh2.3 million with a 7.8 per cent price increase, earning an 8/10 projection for affluent residents and investors. Additional hotspots include Dubai Hills Estate, with villas at Dh10 million, targets affluent families, projecting 9.1 per cent annual appreciation and a 9/10 growth score, buoyed by premium facilities and golf course views. Arabian Ranches, offering villas at Dh1.9 million, caters to families, with prices up 13 per cent in Q3 2024 and a 9/10 outlook. Palm Jumeirah, an ultra-luxury haven, lists villas at Dh25 million, with a 7.7 per cent appreciation rate and an 8/10 projection, driven by limited supply and global appeal. Downtown Dubai, with apartments at Dh2.5 million, sees a steady 2.9 per cent rise, earning a 6/10 score for high-income buyers near iconic landmarks. The outlook for Dubai's real estate sector in H2 2025 is upbeat, experts say. The Dubai Land Department reports 2024 transaction values hit Dh200 billion, a 20 per cent year-on-year leap, and 2025 is on track to sustain this momentum. Off-plan sales, up 25 per cent in early 2025, reflect developer confidence, while rental growth of 5 to 7 per cent in key areas signals strong returns. Population growth, projected at 3.0 per cent annually by the Dubai Statistics Center, and infrastructure like Al Maktoum Airport's expansion, set to handle 260 million passengers yearly, bolster demand. Property market pundits highlight GDP growth tracking at 5 to 6 per cent for 2025, fuelling investor confidence alongside Dubai's successful pivot to non-oil sectors, which now account for over 70 per cent of GDP. Tourism, a powerhouse, welcomed 19 million visitors in 2024, a 12 per cent year-on-year surge, boosting the economy. This buoyancy propelled Dubai's main stock index to a 17-year high in May 2025, soaring over 25 per cent since early 2024. 'With a dynamic blend of economic strength, bold diversification, and surging demand for luxury and suburban living, Dubai shines as a trusted safe haven amid global geopolitical uncertainty,' market experts said.


Gulf Today
6 days ago
- Gulf Today
UAE-Pakistan trade set to exceed $7b in 2025
The bilateral trade relations between the UAE and Pakistan are set to cross $7 billion by 2025. The UAE is a major trading partner for Pakistan, and the two countries are also working on agreements to enhance cooperation in various sectors like trade, investment, and cultural exchange. Kiran Khawaja, CEO of Dubai-based Fajar Realty, whowas recently honored as a 'Guest of Honour' in recognition of her efforts in the real estate industry at Gulf Achievers Awards stated, "I am really happy, and it is a great privilege to be recognised as 'Guest of Honour' at the award show. I am proud of the impact I have been able to make in the Emirates, and Dubai in particular, which is the major hub for international trade and investment with a booming real estate market.' Further stating Kiran revealed, 'The bilateral trade between Pakistan and the UAE exceeded $10.9 billion in the fiscal year 2023–24, including both goods and services." "While interacting with the media he also disclosed that remittances from the Pakistani community in the UAE reached $6.7 billion in 2024, and are expected to surpass $7 billion in 2025. These figures reflect not only the strength of our economic partnership, but also the vital role played by the Pakistani diaspora in supporting the national economy,' the ambassador stated.' Kiran has always been in the limelight and has won many awards and recognition in her illustrious 18-year journey. It may be recalled that Kiran has won many accolades and awards for her hard work and zeal. She walked away with 'Asia Business Outlook Top 10 Most Promising Global Leaders From Pakistan 2023' and the much-coveted 'Being She Excellence Best Real Estate Broker 2023'. Further adding to her accolades are an array of awards, with FajarRealty securing honours such as the 'DAMAC Top Performing Agency', the 'Azizi Agents Award Gala 2023', and the 'Emaar Token of Appreciation Award'. Additionally, they were given the Menaa Leadership Award for 2023 and many more. Under the leadership of Kiran, Fajar Realty has traversed a long way and has carved a niche in the world of real estate not only in Dubai but overseas as well. Recognising the immense innovation and continued growth plans for real estate in Dubai and the greater Middle East, Kiran has become immersed in Dubai's booming real estate industry for over two decades now, one of the city's most important business sectors, and hopes to bring more international investors to this city.