Latest news with #AED229
Arabian Business
13-04-2025
- Business
- Arabian Business
UAE real estate: Abu Dhabi property market shows steady growth in Q1 2025, says new dubizzle report
Abu Dhabi 's property market has recorded consistent growth in the first quarter of 2025, a new report finds. According to the latest report from dubizzle, both rental and sales segments across the emirate have experienced price increases, reflecting strong demand and investor confidence. 'It continues to be a period of steady growth for the Abu Dhabi real estate sector with significant progression in infrastructure, development and sustainability efforts. At dubizzle, we're immensely proud to be part of this growth. As a leading platform, we remain dedicated to delivering innovative solutions that cater to the evolving needs of our users and partners,' Haider Khan, CEO of dubizzle and Dubizzle Group MENA said. Yas Island tops Abu Dhabi luxury property market in Q1 2025 Yas Island has emerged as the top location for luxury apartment purchases with an average sales price of AED1.87 million. The area saw a 2.54 percent increase in per-square-foot prices compared to Q4 2024. For luxury apartment rentals, Al Raha Beach led the market with an average annual rent of AED143,000. In the luxury villa segment, Yas Island maintained its position as the premier choice for both buyers and tenants. The average sales price for villas in this area reached AED4.68 million, while rental prices averaged AED229,000 annually, representing a 1.33 percent increase from the previous quarter. Saadiyat Island delivered the highest return on investment for luxury villas at 5.60 percent, while Yas Island offered the best returns for luxury apartments at 6.99 percent. Abu Dhabi affordable housing market: Top areas for buyers, renters in 2025 Al Reem Island continued to be the top area for affordable apartment purchases with an average sales price of AED 1.54 million and an impressive ROI of 7.31 percent. The area recorded a 3.57 percent increase in per-square-foot prices from Q4 2024. For affordable apartment rentals, Khalifa City led the market with an average annual rent of AED44,000. Al Reef dominated the affordable villa sales market with an average price of AED 2.21 million and an ROI of 6.23 percent. For villa rentals in the affordable segment, Mohammed Bin Zayed City emerged as the preferred choice with an average annual rent of AED 153,000. Al Reef achieved the highest ROI in the affordable segment, with villas at 6.23% and apartments at 10.08 percent. Top Abu Dhabi off-plan projects revealed in Q1 2025 The report also highlighted significant interest in off-plan properties across Abu Dhabi. For luxury off-plan apartments, Yas Bay, Saadiyat Cultural District, and Al Maryah Vista 2 emerged as the most sought-after projects with average prices of AED2.02 million, AED4.45 million, and AED1.11 million respectively. In the affordable off-plan apartment segment, Reem Hills, Royal Park, and Al Reeman 1 attracted the most interest, with average prices of AED1.65 million, AED934,000, and AED793,000 respectively. For luxury off-plan villas, Yas Acres, Saadiyat Lagoons, and Al Jurf Gardens led the market with average prices of AED6.52 million, AED8.98 million, and AED5.56 million respectively. Al Reeman 2, Bloom Living, and Al Naseem Community emerged as the top choices for affordable off-plan villas, with average prices of AED4.1 million, AED3.92 million, and AED8.89 million, respectively. Which Abu Dhabi areas offer the highest returns in 2025? The report indicates that Abu Dhabi's property market has maintained its momentum from late 2024 into early 2025, with most areas showing price increases. Notable exceptions include Al Jubail Island and The Marina, which experienced declines in per-square-foot prices for apartments by 1.74 percent and 1.20 percent respectively. In the villa rental market, Shakhbout City and Al Reef saw decreases of 4.17 percent and 2.90 percent in annual rents.
Hi Dubai
03-04-2025
- Business
- Hi Dubai
Takaful Emarat Reports Impressive 45% Growth in Total Assets
Takaful Emarat has achieved a significant milestone, announcing a 45% increase in its total assets, which reached AED960 million for the fiscal year ending December 31, 2024. This remarkable growth underscores the company's solid financial foundation and continued resilience in the market. The company's revenues surged by 84%, reaching AED420 million in 2024, up from AED229 million the previous year. This substantial increase is mirrored by an 84% rise in operating profits, highlighting improved operational efficiency and enhanced profitability. Dr. Noor Aldeen Atatreh, Chairman of the Board, emphasized the company's role as a leading provider of Sharia-compliant health and life insurance in the UAE. He explained, 'Takaful Emarat operates on principles of mutual cooperation and participant contribution, distinguishing us from traditional profit-driven models. Our services are fully aligned with Islamic Sharia, ensuring comprehensive solutions for both individual and corporate clients.' In addition to the strong revenue growth, earnings per share (EPS) saw a marked improvement, reaching AED0.05, signaling a robust financial rebound. The company's net investments also saw a significant jump, rising by 106% to AED32 million, compared to AED15.6 million in 2023. Dr. Atatreh concluded, 'We are committed to deepening our relationships with clients and exploring new growth opportunities. By nurturing a culture of excellence, we aim to deliver sustainable value for our shareholders and partners, positioning Takaful Emarat for continued success.' News Source: Emirates News Agency
Zawya
03-04-2025
- Business
- Zawya
UAE: Takaful Emarat rebounds with 84% revenue growth
Takaful Emarat has announced a remarkable 45 percent increase in its total assets, reaching AED960 million for the fiscal year ending 31st December 2024, reinforcing the group's strengthened financial standing. The company recorded an 84 percent surge in revenues, reaching AED420 million in 2024, compared to AED229 million in the previous year. This strong top-line growth was mirrored in operating profit, which also climbed by 84 percent, underscoring enhanced operational efficiency and a significant boost in profitability. Commenting on the results, Dr. Noor Aldeen Atatreh, Chairman of the Board at Takaful Emarat, stated, 'Takaful Emarat is one of the UAE's leading Takaful insurers, offering Sharia-compliant health and life insurance services.' He added, 'Our business operates on the principles of mutual cooperation and participant contribution, setting us apart from traditional profit-driven insurance models. We provide comprehensive health and life insurance solutions to both individual and corporate clients, all fully compliant with Islamic Sharia. Every transaction is carefully reviewed and guided by our dedicated Sharia board.' Earnings per share (EPS) saw a notable improvement in 2024, reaching almost AED0.05 per share — a clear indication of the company's strong financial rebound. Supporting this performance, net investment surged to AED32 million, marking a 106 percent increase from AED15.6 million in 2023. Dr. Atatreh concluded, 'We remain dedicated to strengthening our relationships with clients while exploring new avenues for growth and strategic alliances. By fostering a culture of excellence and agility, we aim to create lasting value for our shareholders and partners, positioning Takaful Emarat for sustainable success in an evolving business landscape.'
Zawya
03-03-2025
- Business
- Zawya
Abu Dhabi real estate transactions hit $4.69bln in first two months of 2025
ABU DHABI - Real estate transactions in Abu Dhabi reached AED17.24 billion in the first two months of 2025, with over 5,000 transactions, reflecting the sector's strong activity. According to the "DARI" platform of the Department of Municipalities and Transport in Abu Dhabi, real estate sales transactions since the beginning of the year have totalled AED9.8 billion across 2,676 transactions, while mortgage transactions during the same period have reached AED7.2 billion for 2,352 transactions. Additionally, the total value of usufruct transactions has exceeded AED229 million for 28 properties. Abu Dhabi continues to strengthen its stature as a leading and reliable real estate investment destination, driven by its diverse offerings and commitment to transparency in providing data to investors, which enhances the quality of real estate services in the emirate. The sector's momentum also reflects Abu Dhabi's advanced infrastructure, which supports the growth of various projects and fosters a competitive business environment.
Emirates 24/7
13-02-2025
- Business
- Emirates 24/7
WGS: Abu Dhabi Fund for Development total funding reached AED229 billion
The Abu Dhabi Fund for Development (ADFD) participated in the World Governments Summit 2025, held in Dubai under the theme 'Shaping Future Governments.' The summit brought together government leaders, ministers, senior officials, global experts, decision-makers, and specialists in financial, economic, and social affairs from around the world. As a global platform, the summit facilitates the exchange of knowledge and expertise to drive development and societal progress. It also strengthens international partnerships by adopting innovative strategies and solutions to address development challenges and rapid economic changes, ultimately shaping a better future for humanity. This year marks ADFD's 10th anniversary as a strategic partner of the WGS. Over the past decade, ADFD has played a key role in fostering promising development and investment opportunities through international cooperation. It has leveraged its expertise in economic and development fields while significantly contributing to the growth of Emirati exports. The Fund's efforts have also enhanced economic and social stability in beneficiary countries, paving the way for a more sustainable future for current and future generations. Mohamed Saif Al Suwaidi, Director-General of ADFD, said, 'We are proud of our strategic partnership with the World Government Summit, which has spanned 10 years of excellence and leadership. During this time, we have worked hand in hand with our local and international partners to achieve its goals and objectives aimed at anticipating the future of governments. The continuity of our partnership reflects our keenness to promote comprehensive development and support global initiatives aimed at achieving a more prosperous and sustainable future for societies.' He further highlighted the significance of the summit, stating: 'The World Government Summit is an inspiring global platform that we must invest our efforts and energies in to make the most of successful experiences, adopt best practices, and employ the latest innovations in artificial intelligence to make a positive and meaningful impact on communities.' Al Suwaidi underscored ADFD's achievements over the past year, particularly in supporting the UAE's foreign development aid policy. The Fund expanded its development and investment activities to 107 countries across continents, with total funding reaching approximately AED229 billion. These funds were allocated to strategic projects across vital sectors, enabling governments to achieve their national development goals. He also highlighted ADFD's commitment to strengthening the UAE's national economy, saying, 'We have doubled our efforts to develop our national economy, harnessing all capabilities to support the private sector and strengthen Emirati industries through the Abu Dhabi Exports Office (ADEX). The funding allocated for this strategic goal amounted to approximately AED 10 billion, contributing to the competitiveness of Emirati companies in global markets.' Abu Dhabi Fund for Development participated in a workshop titled 'The UAE in BRICS: Shaping Global Trade and International Interconnectedness,' where the Fund emphasised the importance of integrating efforts between the UAE and BRICS countries to achieve sustainable economic growth. The session provided a comprehensive overview of the UAE's vision to enhance cooperation with BRICS nations and highlighted the strategic opportunities offered by this partnership. It also focused on deepening collaboration between BRICS governments and business communities to achieve sustainable economic growth and enhance joint investments. The session discussed the role of BRICS in enhancing international cooperation and achieving sustainable development through coordination among its members in various economic and social fields. It also explored effective solutions to global challenges, such as economic transitions, climate change, and developmental challenges. ADFD held bilateral meetings with delegations from participating countries, exploring new opportunities to support priority development and investment projects. These discussions aimed to strengthen cooperation on sustainable development initiatives and explore innovative financing solutions to address global economic and development challenges. The Fund's delegation actively participated in panel discussions and interactive workshops addressing pressing global issues. Key topics included climate change, the transition to renewable energy, and water and food security. These sessions showcased successful experiences and cutting-edge technologies, particularly in artificial intelligence, that contribute to advancing sustainable development and prosperity worldwide. ADFD remains committed to supporting the strategic goals of developing countries, with a strong focus on sustainability. This approach aligns with the UAE's vision of strengthening international cooperation, fueling economic growth, and building a more prosperous and sustainable future for coming generations. This year's summit convened over 30 heads of state and government, more than 80 international and regional organisations and 140 government delegations. Its agenda featured 21 global forums exploring major future trends and transformations, over 200 interactive sessions with more than 300 prominent speakers—including presidents, ministers, experts, thought leaders, and decision-makers—and over 30 ministerial meetings and roundtables attended by more than 400 ministers. Follow Emirates 24|7 on Google News.
