Latest news with #AED11
Entrepreneur
4 days ago
- Business
- Entrepreneur
Dubai Office Transactions Soar to All-Time High of AED5.4 Billion; Up 84%
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. Dubai's office market sales values have soared by 84% year-on-year, with AED5.4 billion worth of transactions across 1,900 deals, according to new insight and analysis by leading real estate advisory and property consultant, Cavendish Maxwell. Sales transactions were up 22% on the same period last year, amid unprecedented demand for commercial space – particularly in the prime office and logistics segments, according to Cavendish Maxwell's latest Dubai Office Market Report, covering H1 2025. Dubai delivered 34,000 square metres of new office space between January and June, with another 110,000 sqm estimated to come to the market by the end of 2025 – and an additional 340,000 sqm expected in 2026, by which time the total commercial space GLA is projected to reach 9.78 sqm, the report shows. Vidhi Shah, Director and Head of Commercial Valuation at Cavendish Maxwell, said: "Dubai's investment landscape continues to flourish, further cementing the emirate's status as the UAE's leading economic hub – and a global destination for business. In H1 this year, Dubai attracted more than 500 new FDI projects, securing over AED11 billion in capital inflows, while the DIFC registered more than 1,080 new businesses – a rise of 32% year-on-year. "With strong Government backing and sustained, solid investor confidence, Dubai's office market continues to deliver an outstanding performance, with yet more records for sales volumes and values. This strong momentum is expected to continue this year and beyond, with a wave of quality new supply further strengthening the market and offering buyers and renters more flexibility." The Cavendish Maxwell report also shows that in H1: Office sales prices rose 22.2% year on year, to an average AED1,748 per square foot Ready offices accounted for nearly 85% of sales transactions, with off-plan sales gaining ground Business Bay remained the top area for sales, followed by Jumeirah Lakes Towers Office rents were up by an average 26.4% - and by almost 35% in prime areas Sales and rental price rises Year-on-year, office sales and rental prices rose by an average of 22.2% and 26.4% respectively, with sales prices reaching AED1,748 per sq ft and rental rates hitting AED166 per sq ft per annum. Compared to H2 2024, sales prices were up almost 13%, with rental rates rising 10%. With a healthy appetite among investors and occupiers, prices are expected to continue to rise. Rental rates in prime districts like DIFC and Downtown Dubai surged by almost 35% and 33.5% respectively, highlighting demand for quality space in Dubai's most sought-after business hubs. Some of the emirate's more mature, traditional trading centres such as Bur Dubai, Deira and Healthcare City saw only modest rises of 3.8%, 2.6% and 2.2% respectively – the result of older infrastructure, limited new supply and increasing investor preference for A-grade facilities, enhanced amenities and better access. Surge in off-plan demand While the ready office segment continues to dominate, accounting for almost 85% of transactions, investors are increasingly buying into the off-plan sector. With an increased market share, off-plans sales grew almost 180% compared to H1 last year and 90% against H2 2024. The surge in off-plan investment is fuelled by strong demand for upcoming modern, innovation-led and ESG-aligned space. In total, there were 1,900 ready and off-plan sales transactions worth AED5.4 billion in H1. The hottest sales locations Business Bay kept its number one position for transactions, with a total 672 ready and off-plan sales deals between January and June. In second place was Jumeirah Lakes Towers with 534 transactions, followed by Motor City (216), Barsha Heights (160) and Dubai Silicon Oasis (77). Offices spanning 1,000 to 2,000 sq ft accounted for almost half (48%) of all sales transactions, with areas of less than 1,000 sq ft taking a 39% share. 12% of investors secured spaces between 2,000 and 5,000 sq ft, with 2% taking 5,000 sq ft or more. Pipeline supply Dubai's office inventory currently stands are 9.32 million square metres of gross leasable space and is poised for a steady increase in new deliveries to the tune of 110,000 sqm between now and the end of year, and 340,000 sqm next year. Long term forecasts show that another 1 million sq ft is due to come online in 2027 and 2028, by which time Dubai's total GLA inventory could reach 10.85 sqm. Vidhi Shah said: "While the development pipeline appears to be very robust, actual completion times may vary, meaning that occupancy rates are likely to remain high in the short term. The majority of upcoming supply is projected to hit the market between 2026 and 2028, when we can expect price pressure to ease on both sales and rentals."
Zawya
4 days ago
- Business
- Zawya
Dubai office market sales value up 84% in H1, says report
Dubai's office market sales values for the first six months of the year have soared by 84% year-on-year with AED5.4 billion ($1.47 billion) worth of transactions across 1,900 deals, according to leading real estate advisory and property consultant, Cavendish Maxwell. Sales transactions were up 22% on the same period last year, amid unprecedented demand for commercial space – particularly in the prime office and logistics segments, stated Cavendish Maxwell in its latest Dubai Office Market Report for H1 2025. A total of 34,000 sq m of new office space had been delivered between January and June, with another 110,000 sq m estimated to come to the market by the end of the year, stated the report. An additional 340,000 sq m is expected in 2026, by which time the total commercial space GLA is projected to reach 9.78 sqm, it added. Vidhi Shah, the Director and Head of Commercial Valuation at Cavendish Maxwell, said the emirate's investment landscape continues to flourish, attracting more than 500 new FDI projects and securing over AED11 billion in capital inflows. The DIFC, she stated, registered more than 1,080 new businesses, thus registering an increase of 32% year-on-year. The Cavendish Maxwell report also shows that in H1: *Office sales prices rose 22.2% year on year, to an average AED1,748 per square foot *Ready offices accounted for nearly 85% of sales transactions, with off-plan sales gaining ground *Business Bay remained the top area for sales, followed by Jumeirah Lakes Towers *Office rents were up by an average 26.4% - and by almost 35% in prime areas Year-on-year, office sales and rental prices rose by an average of 22.2% and 26.4% respectively, with sales prices reaching AED1,748 per sq ft and rental rates hitting AED166 per sq ft per annum. Compared to H2 2024, sales prices were up almost 13%, with rental rates rising 10%. With a healthy appetite among investors and occupiers, prices are expected to continue to rise, said the property expert. Rental rates in prime districts like DIFC and Downtown Dubai surged by almost 35% and 33.5% respectively, highlighting demand for quality space in Dubai's most sought-after business hubs. Dubai's office inventory currently stands are 9.32 million sq m of gross leasable space and is poised for a steady increase in new deliveries to the tune of 110,000 sq m between now and the end of year, and 340,000 sqm next year. Long term forecasts show that another 1 million sq ft is due to come online in 2027 and 2028, by which time Dubai's total GLA inventory could reach 10.85 sqm. "This strong momentum is expected to continue this year and beyond, with a wave of quality new supply further strengthening the market and offering buyers and renters more flexibility," stated Shah. "While the development pipeline appears to be very robust, actual completion times may vary, meaning that occupancy rates are likely to remain high in the short term. The majority of upcoming supply is projected to hit the market between 2026 and 2028, when we can expect price pressure to ease on both sales and rentals," he added.- TradeArabia News Service Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Hi Dubai
7 days ago
- Business
- Hi Dubai
Dubai Islamic Bank Renews AED11 Million Support for Dubai Schools Project
The Knowledge Fund Establishment (KFE) has renewed its partnership with Dubai Islamic Bank (DIB), which will contribute AED11 million to the Dubai Schools project for the 2025-2026 academic year. This marks the second consecutive year of support aimed at expanding access to quality education for eligible students in line with Dubai's inclusive and sustainable education goals. The collaboration reflects DIB's commitment to national development, with education as a core pillar of the Dubai Social Agenda 33 and Education Strategy 2033. The initiative focuses on building a learner-centric ecosystem that fosters lifelong learning and equips students with future-ready skills. KFE CEO Abdulla Mohammed Al Awar praised DIB's continued backing, highlighting the role of private-sector partnerships in creating a sustainable education model. DIB COO Obaid Al Shamsi said the partnership underscores a shared mission to prepare a generation ready to lead the future. Launched in 2021, the Dubai Schools project now serves over 2,500 students from 38 nationalities across branches in Mirdif, Al Barsha, Nad Al Sheba, and Al Khawaneej. Capacity is expected to reach 15,000 students by the 2032-2033 academic year. News Source: Dubai Media Office
Sharjah 24
04-08-2025
- Business
- Sharjah 24
Sharjah Chamber reports 12% membership growth in H1 2025
The combined export and re-export values of registered member companies reached approximately AED11 billion in the first half of 2025, as reported by SCCI. The Chamber also issued 41,294 certificates of origin during the same period, marking a 6 percent increase compared to the previous year. This reflects SCCI's leading efforts to support the business and investment environment in the emirate of Sharjah. SCCI's certificates of origin for H1 2025 showed that Saudi Arabia topped the list of importers from Sharjah, with export and re-export values exceeding AED5.9 billion, reinforcing strong bilateral trade ties and Sharjah's position as a key supplier to Gulf markets. Oman ranked second with more than AED 1.6 billion, followed by Iraq with over AED 1.5 billion. Other prominent export destinations included Qatar, the United Kingdom, Egypt, Ethiopia, Kuwait, and India. In his remarks, Abdallah Sultan Al Owais, Chairman of SCCI, stated that the surge in memberships during the first half of 2025 is a testament to the growing investor confidence in Sharjah's business ecosystem. He emphasised that the emirate's favorable investment environment and its array of competitive advantages and incentives have positioned Sharjah as a major business hub and investment destination. For his part, Mohammed Ahmed Amin Al Awadi, Director-General of SCCI, noted that the Chamber's strong performance in H1 2025 reflects the effective rollout of its 2025–2027 strategic plan. The strategy focuses on Sharjah's economic empowerment, entrepreneurial development, private sector competitiveness, and the creation of a growth-oriented investment climate. During the first half of this year, the Sharjah Chamber remained committed to diversifying its initiatives and launching strategic economic and trade events, programs, and exhibitions aimed at advancing the emirate's ongoing economic development. The Chamber engaged in a series of business meetings with official, diplomatic, and trade delegations to foster strategic partnerships between Sharjah's private sector and global counterparts. It also facilitated targeted discussions with sectoral business groups and key entrepreneurs. As part of its efforts to expand international cooperation and open new market opportunities for Sharjah's business community, the Sharjah Chamber organized two successful trade missions to India and Mauritius the first half of 2025. These missions featured high-level meetings with government representatives, entrepreneurs, and investors to foster cross-border business engagement.
Arabian Business
01-05-2025
- Business
- Arabian Business
Ras Al Khaimah property market set to double by 2030 amid tourism boom
Ras Al Khaimah's residential property stock is on track to double by the end of 2030, with more than 11,000 new units scheduled for completion, according to a report by Savills. The emirate has recorded over AED11 billion in sales transaction values in 2024, with significant momentum in the market since the pandemic. Off-plan sales have dominated transactions, while communities such as Al Marjan Island, Mina Al Arab, and Al Hamra have experienced increases in capital values and rents since 2022. Gaming revenue could generate AED20 billion as RAK transforms into luxury destination 'There is a growing demand for premium residential offerings in RAK. Branded resi dences now make up 32 per cent of the anticipated supply on Al Marjan Island, reflecting buyer appetite for well-located, lifestyle-led investments,' Andrew Cummings, Head of Residential Agency at Savills Middle East said. The report highlights the Sunshine Bay development on Al Marjan Island as a prime example of market momentum. Launched in late 2024 with Savills as master agents, all 240 units sold within three months, achieving average prices exceeding AED2,200 per sq ft. British investors represented more than 40 per cent of buyers among the 37 nationalities who purchased units. Savills is set to launch the Anantara Mina Ras Al Khaimah Residences in April 2025, featuring 84 units including luxury suites, apartments and duplex sky villas. Prices will start from AED2.2 million, with a 60/40 payment plan and handover expected in Q3 2028. The property market expansion coincides with growth in tourism. Ras Al Khaimah welcomed 1.28 million tourists in 2024, representing a 5.1 per cent increase compared to 2023. The visitor mix was evenly split between international and domestic tourists, with 661,000 air arrivals marking a 28 per cent year-on-year increase. Tourism in the emirate has shown consistent growth since 2020, supported by beach resorts, desert landscapes, and activities around Jebel Jais, the UAE's highest peak. Wynn Al Marjan Island to drive record property sales in Ras Al Khaimah A major catalyst for growth is the development of Wynn Al Marjan Island, the UAE's first integrated resort with a commercial gaming operator's licence. The project, set to open in 2027, will span 62 hectares on Al Marjan Island and feature 1,542 rooms and suites, 225,000 sq ft of gaming space, 15,000 sq m of retail, and entertainment facilities. The potential economic impact is substantial, with analysts noting that if UAE gaming revenue reaches 1.6 per cent of GDP – comparable to Singapore – it could generate more than AED 20 billion in revenue. While historically dependent on Dubai for luxury amenities, Ras Al Khaimah is developing its own offerings. These include the Ritz-Carlton Al Wadi's Zuma winter pop-up and improved education options. In the 2023/24 academic year, seven schools received a 'good' rating from the Ministry of Education, up from three the previous year. The British School Al Hamra became the only school in the Northern Emirates to achieve a 'very good' rating. 'RAK's evolution is now beyond tourism alone. We're seeing the pieces come together, infrastructure, education, entertainment, and residential development, which together make a compelling case for long-term investment and growth,' Rachael Kennerley, Head of Research at Savills Middle East added.
