
Dubai Duty Free records $565bln in Q1 sales
Ramesh Cidambi, Managing Director of Dubai Duty Free, confirmed that the strong performance during this period reflects the excellence of services and their integration with the growth in passenger traffic, especially in February, during which average daily sales reached about AED25.3 million.
Perfumes topped the sales categories with AED371 million, contributing around 18% to total revenue, while the confectionery sector saw remarkable growth of 57 per cent, supported by the great success of the Dubai-branded chocolate promotions.
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags

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

Economy ME
9 minutes ago
- Economy ME
Dubai property prices stand 30.5 percent above 2014 market peak in July amid record mortgage volumes
Dubai's property market continued its upward momentum in July 2025, posting a more measured price increase of 0.99 percent following June's stronger gain of 1.71 percent. According to the Property Monitor Dynamic Price Index (DPI), average property prices now stand at AED1,625 per square foot, 30.5 percent above the previous market peak in September 2014. A deeper look into the sub-categories of the index reveals that apartment price growth is softening, while the trajectory of villas and townhouses is moving with greater momentum. Sales volumes to set a new all-time high in 2025 A total of 20,116 sales transactions were recorded in July, reflecting a 21.3 percent increase from the previous month. This marks yet another record-breaking month, continuing the 2025 trend of each month surpassing its previous all-time high. 'While the sharp month-on-month jump may appear dramatic at first glance, it is more likely a normalization following June's dip, which was influenced by reduced working days and many extending time off around the Eid break,' the report noted. When viewed in the context of Q2's overall volume trend, the combined figures for June and July suggest a smoothing effect rather than a sudden spike in Dubai's property market activity. Residential transactions, encompassing apartments, townhouses, and villas, accounted for the majority of sales at 93.7 percent. The highest transacted commercial property types were office spaces, vacant land, and hotel apartments and retail spaces. Year-to-date sales transaction volumes have surpassed just over 119,000 and are over 23 percent higher compared to the same period in 2024. At the current pace of transaction velocity, we are on track to see year-end sales volumes surpass 200,000 and set a new all-time high. Mortgage transactions set a new record with 4,891 loans Mortgage transaction volumes across Dubai's property market surged in July, setting a new record with a total of 4,891 loans—a 9.2 percent increase month-on-month. New purchase money mortgages accounted for 45.6 percent of activity, up 2.3 percent from June, with average loan amounts of AED1.8 million and a loan-to-value ratio of 73.7 percent, slightly above June's 73.5 percent. Although the loan-to-value ratios edged up slightly in July, they remain lower than the historical average of 75–77 percent, likely reflecting the ongoing influence of Central Bank measures restricting fee and cost financing. These tighter conditions raise the upfront cash hurdle for buyers, but the fact that mortgage volumes hit a new record suggests strong confidence among buyers and a more resilient, well-capitalized demand base. Meanwhile, loans for refinancing and equity release saw their market share increase by 7.5 percent to 38.3 percent. The remaining 16.1 percent was due to bulk mortgages—those taken by developers and larger investors with multiple units. In July, Dubai's property market recorded 12,595 off-plan Oqood transactions, a marked increase of 28.3 percent from the previous month. In tandem with the increase in volume, the overall market share also rose to 62.6 percent, up 3.4 percent month-on-month. Meanwhile, title deed sale volumes also witnessed a monthly increase, climbing by 11.2 percent and now account for 37.4 percent of all sales transactions. July marks 50 new launches with over 13,800 residential units Dubai's new property pipeline showed no signs of slowing in July, as more than 50 launches brought over 13,800 residential units to market with a combined estimated gross sales value of AED38 billion. This brings the year-to-date tally to nearly 93,000 units and AED270 billion in potential sales, levels that would have once defined a full-year cycle but are now being reached in just seven months. Apartments accounted for 95 percent of July's new supply, with villas and townhouses contributing 2.5 percent each. While the continued wave of new supply underscores developer momentum, it is also beginning to test the depth of demand. With many launches offering comparable concepts and pricing, standing out has become more difficult. The result is a market where buyer urgency is easing, and projects that once sold out in hours are now taking longer to move. 'Rather than a sign of weakening demand, this shift reflects a market that is becoming less hype-driven and more value-focused—one where buyers are taking time to evaluate, compare, and invest more deliberately. Of course, the possibility that seasonal effects are also playing a role shouldn't be ruled out, particularly during the traditionally quieter summer months,' the report added. Read: Saudi Arabia to deliver over 40,000 housing units across 24 residential projects for citizens Evolving dynamics to test market's adaptability As the third quarter gets underway, Dubai's property market continues to operate at historically high levels of activity, but signs of strain are beginning to emerge beneath the surface. Price growth remains positive, and transaction volumes are on pace to break new records, yet the pace of new supply—particularly from the off-plan segment—raises questions about the market's capacity to absorb this wave in a sustainable manner. With nearly 93,000 units launched year-to-date, buyer selectivity is rising, and early indicators of softening absorption are becoming more pronounced. Developers will need to shift focus from velocity to viability, with increased emphasis on product differentiation, delivery timelines and realistic pricing strategies. Meanwhile, mortgage market dynamics remain a key factor to monitor. Although borrowing activity is strong, the persistence of lower loan-to-value ratios suggests that affordability pressures may start to shape demand more directly in the months ahead. While the market remains fundamentally strong, sustaining this momentum will depend on aligning supply with end-user demand and placing greater focus on product differentiation and genuine value. The second half of the year will reveal whether the market can adapt to these evolving dynamics or begin to encounter meaningful friction.


Arabian Business
28 minutes ago
- Arabian Business
Dubai real estate hits $17.3bn in July 2025 sales as off-plan demand soars; 10 top communities revealed
The Dubai real estate market continues its record-breaking momentum, with sales transactions in July 2025 reaching AED63.6bn ($17.3bn) — a 27 per cent year-on-year increase in value and a 24 per cent rise in transaction volume, according to new data from Property Finder. The primary ready segment recorded 1,961 transactions worth AED12.2bn ($3.3bn), marking a 66 per cent increase in volume and a 56 per cent rise in value compared with July 2024, reflecting strong buyer confidence in completed developments. At the same time, demand for off-plan projects continues to accelerate, offering home seekers and investors compelling opportunities in Dubai's booming property market. Prime Dubai real estate Across the UAE, buyer interest in new developments has risen by an average of 32 per cent per quarter between Q3 2024 and Q2 2025. While Dubai real estate dominates this demand, Abu Dhabi and Ras Al Khaimah each account for 5 per cent. Among the top 10 most in-demand communities, nine are in Dubai: Dubailand Dubai South JVC Dubai Investment Park Deira Dubai Hills Estate Dubai Creek Harbour Dubai Marina Business Bay Al Marjan Island in Ras Al Khaimah the sole non-Dubai real estate entry. Property Finder says its New Projects vertical is meeting this demand by offering the UAE's most comprehensive and fully verified database of primary developments — with 28 per cent more projects than any other source. Among the top-performing developments currently featured on Property Finder's New Projects are: Bahria Town in Dubai South Grand Polo Club and Resort in Dubai Investment Park Eden House in Dubai Hills Verdana Residence in Dubai Investment Park Rove Home Dubai Marina by IRTH Cherif Sleiman, Chief Revenue Officer at Property Finder, said: 'The surge in primary market demand underscores the importance of verified, accessible, and comprehensive information about new projects. 'With New Projects, we are setting the benchmark for transparency and choice, helping buyers, agents, and developers engage with off-plan real estate in ways that are more informed, more confident, and more successful.' Defining the Dubai real estate primary market: Primary ready: Completed properties sold for the first time by developers and licensed brokers Primary off-plan: Properties sold before completion, often with attractive payment plans and early investment opportunities New Projects includes both primary off-plan and primary ready developments, giving buyers and investors verified access to the full spectrum of opportunities in Dubai and across the UAE.


Arabian Business
28 minutes ago
- Arabian Business
Dubai real estate: Emirates Hills mansion sells for record $71m
Dubai's ultra-luxury property market has set a new benchmark after Eden Realty confirmed the record-breaking sale of a single-plot villa in Emirates Hills for AED260m ($71m) — the highest price ever achieved for a single-plot villa in the exclusive community. Spanning approximately 50,000sq ft, the seven-bedroom property was never publicly listed and was shown only to pre-qualified buyers, reflecting the privacy and exclusivity of such ultra-prime sales. Fabricio Saltini, Managing Partner at Eden Realty, represented the seller, while Michael Charalambous, Associate Director at Dubai Sotheby's International Realty, acted for the buyer. $71m villa sale in Dubai Saltini said: 'Representing this property was a privilege, not only because of its exceptional scale and location, but because of the trust placed in us to manage a process of such discretion. 'This sale reinforces our belief that the right network, deep market expertise, and an unrelenting commitment to confidentiality are what deliver results at this level.' Located on Emirates Hills' most prestigious stretch — known as the 'Golden Mile' — the villa enjoys sweeping views over the lakes and Address Montgomerie golf course. This milestone further cements Eden Realty's position at the pinnacle of Emirates Hills' luxury market. The firm and its partners have now handled three of the four most expensive transactions in the community: AED260m ($71m) AED210m ($57m) AED209m ($57m) Barney Crompton, Partner and Co-Founder of Eden Realty, said: 'The fact that Eden Realty has been involved in three of the four highest-value transactions in Emirates Hills speaks volumes about the strength and resilience of Dubai's ultra-luxury property market. 'Global demand for rare assets in the city remains unmatched, and Emirates Hills continues to cement its position as the crown jewel for high-net-worth investors.' Often referred to as the 'Beverly Hills of Dubai,' Emirates Hills remains one of the most exclusive residential enclaves in the UAE, attracting royalty, celebrities, and global business leaders. The AED260m ($71m) sale underlines the enduring appeal of Dubai's luxury real estate sector and the continued global demand for rare, high-value assets.