Latest news with #AED28
Economy ME
06-05-2025
- Business
- Economy ME
Dubai real estate sets new record: April sales transactions surge 94 percent to $16.91 billion
Dubai's real estate sector recorded AED62.1 billion ($16.91 billion) in total sales transactions last month, the highest ever monthly total for the emirate. This marks a 94 percent year-on-year surge in value compared to April 2024, and a 54 percent rise in transaction volume, according to Dubai Land Department (DLD) data. This record-breaking performance underscores the city's thriving real estate sector, with growth witnessed across both primary and secondary markets. 'Dubai's real estate market continues to scale new heights, propelled by bold city planning, regulatory innovation, and investor trust. The sustained growth across both primary and secondary segments is resounding proof of its resilience and long-term appeal,' stated Cherif Sleiman, chief revenue officer at Property Finder. Primary segment drives surge According to the latest report by Property Finder, the primary property segment led the charge on Dubai real estate, with sales touching AED34.2 billion in value, a 124 percent increase from April 2024. This was fuelled by marquee transactions in destinations like Palm Jebel Ali and The Oasis by Emaar. Palm Jebel Ali and The Oasis by Emaar accounted for 19 percent and 13 percent of the total value, respectively, despite representing less than 2 percent and 4 percent of the total transaction volume of primary transactions, highlighting investor appetite for future-forward, branded communities. Secondary segment posts record AED28 billion Meanwhile, the secondary segment performed equally as well, with a record AED28 billion in sales value across more than 7,700 transactions, up 67 percent in value and 66 percent in volume from April 2024. While a landmark AED1.45 billion land transaction in DMCC-EZ2 for the upcoming Sobha Central development in Jebel Ali stood out, strong resale activity in key communities such as Palm Jumeirah, JVC and Dubai Marina also contributed significantly to overall real estate transaction value. 'The Dubai Land Department's recent initiative of introducing AI-enabled governance of real estate advertising will enhance transparency and credibility in real estate advertisements across key marketing platforms, a focus that we have always aligned with. Further supported by the strategic partnerships signed by DLD at the International Property Show, we are witnessing greater transparency, smarter regulation, and higher service standards across the board. These far-sighted initiatives will contribute to Dubai's growing status as one of the world's most investor-friendly real estate markets,' added Sleiman. Apartments dominate home searches Property Finder also revealed that apartment living continued to be the preferred choice across both the buyer and renter categories, with apartments accounting for nearly 78 percent of rental searches and 59 percent of purchase interest in April 2025. Studio apartments comprised 21 percent of all rental searches on Property Finder, but just 14 percent of buyer interest. This gap signals strong yield opportunities for investors in smaller units, where rental demand appears stronger than buyer interest. Meanwhile, two-bedroom apartments attracted 35 percent of buyer searches and 31 percent of rental demand. Read: Sharjah real estate market hits $234.6 million in Q1 2025, up 159.2 percent year-over-year Dubai real estate transactions hit AED142.7 billion in Q1 In its quarterly report, Property Finder revealed that Dubai's real estate market continued to rank among the top-performing markets globally, with Q1 2025 witnessing a significant surge in total sales transactions. The transaction volume reached 45,474, marking a 22 percent year-on-year increase, while the total value rose by 30 percent, hitting AED142.7 billion. The market maintained its positive momentum, with Q1 performance exceeding the quarterly average transactions for both volume and value in 2024. Notably, the transaction value in Q1 2025 was 9 percent higher than the average quarterly value recorded in 2024, underscoring the market's ongoing strength and investor confidence. Notably, Dubai's off-plan market continued to deliver outstanding performance, recording its highest first-quarter performance in a decade, with off-plan sales accounting for 56 percent of total transaction volume. The number of off-plan transactions reached 25,440, up from 20,557 in Q1 2024, reflecting a 24 percent year-on-year increase, driven by strong long-term confidence among medium – and long-term investors. In terms of value, the off-plan segment also witnessed remarkable growth, with a 24 percent increase year-on-year, reaching AED55.2 billion compared to AED44.5 billion in Q1 2024. This represented 39 percent of the total transaction value in Q1 2025, highlighting the continued attractiveness of Dubai's future development pipeline.
Arabian Business
06-05-2025
- Business
- Arabian Business
Dubai real estate: Property market hits all-time high with nearly $17bn April transactions
Dubai's property market achieved its highest-ever monthly total in April 2025, with transactions reaching AED62.1 billion, according to data released by Property Finder. The figures represent a 94 per cent year-on-year increase in value and a 54 per cent rise in transaction volume compared to April 2024, highlighting the continued momentum in Dubai's real estate sector across both primary and secondary markets. 'Dubai's real estate market continues to scale new heights, propelled by bold city planning, regulatory innovation, and investor trust. The sustained growth across both primary and secondary segments is resounding proof of its resilience and long-term appeal,' Cherif Sleiman, Chief Revenue Officer at Property Finder said. Dubai property market soars The secondary property segment recorded AED28 billion in sales across more than 7,700 transactions, marking increases of 67 per cent in value and 66 per cent in volume from April 2024. A notable transaction included a AED1.45 billion land deal in DMCC-EZ2 for the upcoming Sobha Central development in Jebel Ali. Strong resale activity was also reported in Palm Jumeirah, JVC, and Dubai Marina, which contributed substantially to the overall transaction value. The primary property segment led the market performance with sales reaching AED34.2 billion, representing a 124 per cent increase from April 2024. This growth was driven by significant transactions in developments, including Palm Jebel Ali and The Oasis by Emaar. These two developments accounted for 19 per cent and 13 per cent of the total primary market value respectively, despite representing less than 2 per cent and 4 per cent of the total transaction volume, indicating investor interest in premium developments. Apartments continue to dominate home searches among both buyers and renters, accounting for 59 per cent of purchase searches and 78 per cent of rental searches in April 2025. Studio apartments represented 21 per cent of all rental searches but only 14 per cent of buyer interest, suggesting potential yield opportunities for investors in smaller units where rental demand exceeds buyer interest. Two-bedroom apartments proved popular with both segments, attracting 35 per cent of buyer searches and 31 per cent of rental interest. 'The Dubai Land Department's recent initiative of introducing AI-enabled governance of real estate advertising will enhance transparency and credibility in real estate advertisements across key marketing platforms, a focus that we have always aligned with. Further supported by the strategic partnerships signed by DLD at the International Property Show, we are witnessing greater transparency, smarter regulation, and higher service standards across the board. These far-sighted initiatives will contribute to Dubai's growing status as one of the world's most investor-friendly real estate markets,' Sleiman added.
Zawya
06-05-2025
- Business
- Zawya
Dubai sets new real estate records again
A record-breaking surge in the secondary market, alongside significant growth in the primary market, saw Dubai achieve the highest-ever monthly total in sales transactions, with a 94% year-on-year surge in value and a 54% rise in transaction volume. Dubai's secondary segment achieved a record AED28 billion in sales across over 7,700 transactions, up 67% in value and 66% in volume from April 2024. Primary sales further contributed to the charge, touching AED 34.2 billion in value, a 124% increase from April 2024. DUBAI, UNITED ARAB EMIRATES: Property Finder, the leading property portal in the MENA region, has released its market performance highlights for April 2025, highlighting unprecedented peaks in Dubai's real estate activity. Dubai Land Department (DLD) data reveals that this April, Dubai recorded AED 62.1 billion in total sales transactions, the highest ever monthly total for the emirate – a 94% year-on-year surge in value as compared to April 2024, and a 54% rise in transaction volume. This landmark performance underscores the city's thriving property sector, with growth witnessed across both primary (off-plan) and secondary (ready) markets. Key data highlights: Sales performance: The primary market shows no signs of slowing down The primary property segment led the charge on Dubai real estate, with sales touching AED 34.2 billion in value, a 124% increase from April 2024. This was fuelled by marquee transactions in destinations like Palm Jebel Ali and The Oasis by Emaar. Palm Jebel Ali and The Oasis by Emaar accounted for 19% and 13% of the total value, respectively, despite representing less than 2% and 4% of total transaction volume of primary transactions, highlighting investor appetite for future-forward, branded communities. Sales performance: Resale maintains strong and sustained growth The secondary segment performed equally notably, with a record AED28 billion in sales value across more than 7,700 transactions, up 67% in value and 66% in volume from April 2024. While a landmark AED 1.45 billion land transaction in DMCC-EZ2 for the upcoming Sobha Central development in Jebel Ali stood out, strong resale activity in key communities [1] such as Palm Jumeirah, JVC, and Dubai Marina also contributed significantly to overall transaction value. Consumer preferences: Apartments dominate home searches Apartment living continues to be the preferred choice across both buyer and renter categories; with apartments accounting for nearly 78% of rental searches and 59% of purchase interest in April 2025. Studio apartments comprised 21% of all rental searches on Property Finder, but just 14% of buyer interest. This gap signals strong yield opportunities for investors in smaller units, where rental demand appears stronger than buyer interest. Meanwhile, two-bedroom apartments attracted 35% of buyer searches and 31% of rental demand. Cherif Sleiman, Chief Revenue Officer at Property Finder, said, ' Dubai's real estate market continues to scale new heights, propelled by bold city planning, regulatory innovation, and investor trust. The sustained growth across both primary and secondary segments is resounding proof of its resilience and long-term appeal.' He adds, 'The Dubai Land Department's recent initiative of introducing AI-enabled governance of real estate advertising will enhance transparency and credibility in real estate advertisements across key marketing platforms, a focus that we have always aligned with. Further supported by the strategic partnerships signed by DLD at the International Property Show, we are witnessing greater transparency, smarter regulation, and higher service standards across the board. These far-sighted initiatives will contribute to Dubai's growing status as one of the world's most investor-friendly real estate markets. At Property Finder, we continue supporting this vision by empowering home seekers and investors with the data-led tools and insights they need to make confident, future-focused decisions.' All the latest information for top listings and communities is available on Data Guru by Property Finder that can be accessed at or on the Property Finder app, available for download on Google Play and Apple Store. About Property Finder Property Finder is a pioneering property portal in the Middle East and North Africa (MENA) region, dedicated to shaping an inclusive future for real estate while spearheading the region's growing tech ecosystem. At its core is a clear and powerful purpose: To change living for good in the region. Founded on the value of great ambitions, Property Finder connects millions of property seekers with thousands of real estate professionals every day. The platform offers a seamless and enriching experience, empowering both buyers and renters to make informed decisions. Since its inception in 2007, Property Finder has evolved into a trusted partner for developers, brokers, and home seekers. As a lighthouse tech company, it continues to create an environment where people can thrive and contribute meaningfully to the transformation of real estate in MENA. For more information, please contact: Gambit PR & Communications propertyfinder@
Dubai Eye
06-02-2025
- Business
- Dubai Eye
TECOM reports AED1.2 billion net profit
TECOM Group PJSC on Thursday announced a record AED2.4 billion in revenue, representing an 11 per cent year-on-year (YoY) increase, resulting in a 14 per cent YoY increase in net profit to AED1.2 billion for the financial year ending December 31, 2024 (FY 2024). The figures reflect the impact of the Group's strategy to further strengthen its core business proposition in Dubai through targeted portfolio expansion and increased operational efficiencies, as well as its robust occupancy and retention rates through 2024. The Board of Directors has proposed a dividend payment of AED400 million (8 fils per share) for the second half of 2024, subject to shareholders' approval at the upcoming Annual General Meeting on March 10, and in line with the dividend policy valid through the first half of 2025. The Board of Directors has also reviewed the interim cash dividend for the second half of 2025 which is expected to increase by 10 per cent. Malek Al Malek, Chairman of TECOM Group, said, "TECOM Group's strong results in 2024 reaffirm our commitment to leveraging Dubai's robust economic fundamentals and contributing to its knowledge economy by attracting global companies and skilled talent across six key sectors." "The AED2.7 billion of investments announced through 2024 will further expand the Group's portfolio, enabling its continued sustainable growth and reinforcing its role as a strategic driver in Dubai's business sector. We are investing in TECOM Group's future while delivering exceptional financial results, carefully managing costs, and maintaining high levels of customer satisfaction." Abdulla Belhoul, Chief Executive Officer of TECOM Group, said, "Led by dynamic non-oil GDP growth, Dubai and the UAE are delivering sustained growth across the commercial real estate and the industrial sectors. "Driven by robust asset performance, strong customer demand, prudent cost management, and increased customer satisfaction, TECOM Group delivered substantial growth across revenue, EBITDA, and property valuation in 2024. Our success through 2024 is demonstrated in our strong share price performance, with a YoY increase of 15 per cent representing positive shareholder returns as well as the sustainable, long-term value of TECOM Group's proposition." Revenue increased by 11 per cent YoY to more than AED2.4 billion, driven by a 5 per cent YoY rise in occupancy to 94 per cent, an impressive retention rate of 92 per cent, and higher rental rates. The fair value of the Group's Investment Properties (IP) portfolio, conducted by CBRE, ascertained a fair value of AED28 billion as of 31st December 2024, representing a like-for-like increase of 11 per cent compared to 2023 levels and a YoY increase of 22 per cent, including new acquisitions during the year. In Q4 2024, revenue increased 11 per cent YoY to AED643 million, while EBITDA grew by 9 percent compared to FY 2023, reaching AED458 million, with an EBITDA margin of 71 per cent.
06-02-2025
- Business
TECOM reports AED1.2 billion net profit
TECOM Group PJSC on Thursday announced a record AED2.4 billion in revenue, representing an 11 per cent year-on-year (YoY) increase, resulting in a 14 per cent YoY increase in net profit to AED1.2 billion for the financial year ending December 31, 2024 (FY 2024). The figures reflect the impact of the Group's strategy to further strengthen its core business proposition in Dubai through targeted portfolio expansion and increased operational efficiencies, as well as its robust occupancy and retention rates through 2024. The Board of Directors has proposed a dividend payment of AED400 million (8 fils per share) for the second half of 2024, subject to shareholders' approval at the upcoming Annual General Meeting on March 10, and in line with the dividend policy valid through the first half of 2025. The Board of Directors has also reviewed the interim cash dividend for the second half of 2025 which is expected to increase by 10 per cent. Malek Al Malek, Chairman of TECOM Group, said, "TECOM Group's strong results in 2024 reaffirm our commitment to leveraging Dubai's robust economic fundamentals and contributing to its knowledge economy by attracting global companies and skilled talent across six key sectors." "The AED2.7 billion of investments announced through 2024 will further expand the Group's portfolio, enabling its continued sustainable growth and reinforcing its role as a strategic driver in Dubai's business sector. We are investing in TECOM Group's future while delivering exceptional financial results, carefully managing costs, and maintaining high levels of customer satisfaction." Abdulla Belhoul, Chief Executive Officer of TECOM Group, said, "Led by dynamic non-oil GDP growth, Dubai and the UAE are delivering sustained growth across the commercial real estate and the industrial sectors. "Driven by robust asset performance, strong customer demand, prudent cost management, and increased customer satisfaction, TECOM Group delivered substantial growth across revenue, EBITDA, and property valuation in 2024. Our success through 2024 is demonstrated in our strong share price performance, with a YoY increase of 15 per cent representing positive shareholder returns as well as the sustainable, long-term value of TECOM Group's proposition." Revenue increased by 11 per cent YoY to more than AED2.4 billion, driven by a 5 per cent YoY rise in occupancy to 94 per cent, an impressive retention rate of 92 per cent, and higher rental rates. The fair value of the Group's Investment Properties (IP) portfolio, conducted by CBRE, ascertained a fair value of AED28 billion as of 31st December 2024, representing a like-for-like increase of 11 per cent compared to 2023 levels and a YoY increase of 22 per cent, including new acquisitions during the year. In Q4 2024, revenue increased 11 per cent YoY to AED643 million, while EBITDA grew by 9 percent compared to FY 2023, reaching AED458 million, with an EBITDA margin of 71 per cent.
