Latest news with #AED15.8
Zawya
28-03-2025
- Business
- Zawya
RAK nets $688mln in real estate sales amid property boom
The real estate market in Ras Al Khaimah has witnessed unprecedented growth, with transaction volumes skyrocketing by nearly 25,000% over the past seven years, according to the latest data from the Ras Al Khaimah Statistics Centre. The total value of real estate transactions in June 2024 reached an astonishing AED2.53 billion ($688 million) - an exponential leap from just AED10 million ($2.72 million) in June 2017. Similarly, mortgage values have soared, recording AED3.47 billion in July 2024, compared to AED15.8 million in July 2017 - an unprecedented increase of approximately 21,849%. This surge underscores the growing investor confidence and the emirate's rising prominence as a real estate powerhouse, said Andrei Charapenak, the CEO of Major Developers, a leading developer in Ras Al Khaimah. "Ras Al Khaimah is no longer an emerging player, it has cemented itself as a prime investment destination. The staggering increase in real estate transactions and mortgage values reflects the emirate's economic momentum, fuelled by visionary leadership, strategic infrastructure developments, and a strong appetite for premium residential and commercial spaces," he noted. The surge in transactions, he stated ,comes at a time when Ras Al Khaimah is attracting heightened interest due to its strategic initiatives, including the expansion of Ras Al Khaimah International Airport, hospitality and entertainment investments, and a strong push toward sustainable urban development. "We are seeing a paradigm shift in investor sentiment - luxury, sustainability, and lifestyle integration are driving purchasing decisions. Major Developers is committed to shaping the future of real estate in Ras Al Khaimah," he added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
27-03-2025
- Business
- Trade Arabia
RAK nets $688m in real estate sales amid property boom
The real estate market in Ras Al Khaimah has witnessed unprecedented growth, with transaction volumes skyrocketing by nearly 25,000% over the past seven years, according to the latest data from the Ras Al Khaimah Statistics Centre. The total value of real estate transactions in June 2024 reached an astonishing AED2.53 billion ($688 million) - an exponential leap from just AED10 million ($2.72 million) in June 2017. Similarly, mortgage values have soared, recording AED3.47 billion in July 2024, compared to AED15.8 million in July 2017 - an unprecedented increase of approximately 21,849%. This surge underscores the growing investor confidence and the emirate's rising prominence as a real estate powerhouse, said Andrei Charapenak, the CEO of Major Developers, a leading developer in Ras Al Khaimah. "Ras Al Khaimah is no longer an emerging player, it has cemented itself as a prime investment destination. The staggering increase in real estate transactions and mortgage values reflects the emirate's economic momentum, fuelled by visionary leadership, strategic infrastructure developments, and a strong appetite for premium residential and commercial spaces," he noted. The surge in transactions, he stated ,comes at a time when Ras Al Khaimah is attracting heightened interest due to its strategic initiatives, including the expansion of Ras Al Khaimah International Airport, hospitality and entertainment investments, and a strong push toward sustainable urban development.
Zawya
17-03-2025
- Business
- Zawya
National Bonds' investment portfolio surges to $4.3bln with 22% growth in 2024
Investments by Sukuk holders at National Bonds reached a record level of AED15.8 billion (US$4.2 billion) by the end of 2024, reflecting a growth of more than 22 percent compared to AED12.9 billion at the end of 2023. According to National Bonds, this growth is linked to the increasing number of regular savers and the adoption of digital solutions. The company distributed approximately AED588 million in returns to Sukuk holders for the year 2024, with some savers earning up to 4.75 percent, while the overall average return rate stood at 4.02 percent. The annual results of National Bonds, announced today, showed a 51 percent increase in the number of regular savers, highlighting the growing demand for structured savings plans in the community. This trend aligns with the UAE's vision of enhancing financial well-being among individuals and institutions while striving for long-term sustainability. National Bonds emphasized that the development and upgrade of its mobile application last year contributed to a 41 percent increase in digital savings in 2024 compared to the previous year. In 2024, National Bonds became one of the first companies to offer end-of-service benefits programmes in partnership with the Ministry of Human Resources and Emiratisation (MOHRE). The programme is set to launch this year, with the company actively engaging with employers seeking optimal financial returns for their employees. Mohammed Qasim Al Ali, Group CEO, said, 'At National Bonds, we take a proactive approach to understanding the future needs of individuals and businesses. By carefully assessing emerging trends and customer expectations, we are able to create products and solutions that align with the financial landscape of tomorrow. This foresight has contributed to a 22 percent year-on-year growth in our investment portfolio, while the 51 percent increase in regular savers reflects the confidence our customers place in our offerings. We focus on building a future-ready savings ecosystem that not only meets financial needs but also addresses the psychological barriers to saving, empowering customers to adopt positive saving behaviours with confidence.' He further emphasized that the company's approach is not solely financial but also focuses on savings behaviours and motivations. The annual rewards program worth AED 36 million, along with other tangible incentives, aims to inspire a disciplined saving culture. Regarding the distribution of National Bonds' investments, Al Ali told Emirates News Agency (WAM) that the company maintains a low-to-medium risk strategy to ensure capital protection. With the global rise in interest rates, the company increased its bank deposits to 20 percent in 2024. Additionally, 30-40 percent of the investment portfolio is allocated to fixed-income assets, 10-12 percent to listed equities, 8 percent to private equity investments, and 20 percent to real estate, which includes ready properties, real estate development, and investment portfolios. On profit distributions, Al Ali confirmed that National Bonds distributed AED 588 million to Sukuk holders in 2024, with some categories receiving returns of up to 4.75 percent, while the average return stood at approximately 4.02 percent.
