Latest news with #AED300m
Arabian Business
27-01-2025
- Business
- Arabian Business
Dubai real estate: DHG Properties announces Meydan project to take development pipeline to $272m
European real estate developer DHG Properties is expanding in Dubai with a new AED300m ($82m) project as it looks to increase UAE footprint. The as-yet unnamed development is its second residential project in Meydan, Dubai. Building on the successful inaugural launch of Helvetia Residences in JVC last year, this new development marks a significant milestone in DHG's expansion strategy for the UAE market. DHG Properties announces Dubai real estate project With a value of AED300m ($82m), the new Meydan project brings DHG's total gross development value to AED1bn ($272m) within its first year of operations in the emirate. While the property name is yet to be announced, investors and buyers have been given a preview of a development with 110 homes offering modern design and premium amenities. DHG holds a proven track record of over three decades in the real estate market and more than 300 completed projects in Europe, focusing on Switzerland and Serbia. This development aligns with Dubai's Urban Master Plan 2040, which aims to transform the city into one of the world's most liveable and sustainable urban centres. The plan has positioned Meydan as a central player in Dubai's future growth by prioritising developments that enhance community living. Milos Antić, Vice Chairman of DHG Holding and CEO of DHG Properties Dubai, said: 'When we officially expanded to Dubai last year, our eyes were not only set on enhancing the country's real estate landscape through one project but rather multiple world-class developments. 'Having DHG now rise in Meydan reinforces our commitment. Choosing this location was a strategic choice, with the district trending upwards in recent years, showcasing both strong market demand and investor confidence. 'We aim to deliver unmatched Swiss quality combined with the elegance and vibrancy of Dubai, creating residences that truly resonate with both local families and international investors'. DHG Properties has rapidly expanded its footprint with a real estate portfolio encompassing more than 2.5 million square metres and a pipeline of 1,500 residential units in development. The company remains committed to investing in the UAE as part of its long-term strategy, aligning with the nation's visionary goals. Dubai's real estate sector continues to witness strong demand. In 2024 alone, the city witnessed an unprecedented 180,900 transactions valued at AED522.1bn ($142.1bn) a 36 per cent jump in transaction volume and a 27 per cent increase in total value compared to 2023.
Arabian Business
27-01-2025
- Business
- Arabian Business
Ajman real estate sector saw $5.6bn of transactions last year
Ajman recorded 15,125 real estate transactions last year, with a total value exceeding AED20.5bn ($5.6bn), reflecting a remarkable growth of 21 per cent compared to 2023. Sheikh Abdulaziz bin Humaid Al Nuaimi, Chairman of the Ajman Department of Land and Real Estate Regulation, stated that the exceptional performance of the real estate market over the past year is evidence of the sector's strength and a positive indicator that enhances Ajman's position as a premier investment destination and promises a bright future for the emirate's economy. He emphasised that the recorded figures reflect the visions of the wise leadership and their efforts to enhance the reputation of Ajman's real estate market, which is considered one of the most competitive markets in the world. Ajman real estate sector The market offers promising opportunities and a comprehensive and attractive investment experience that meets the ambitions and aspirations of investors from all segments. Al Nuaimi explained that the Department of Land and Real Estate Regulation aims to build a promising real estate future that supports economic growth in Ajman, enhances investor confidence, and provides them with an ideal investment environment and a modern, integrated lifestyle. Omar bin Omair Al Muhairi, Director-General of the Department of Land and Real Estate Regulation in Ajman, confirmed that the emirate's real estate market maintained its upward performance and positive figures according to the numbers and statistics shown by the Ajman Real Estate Index. He pointed out that 2024 witnessed the registration of 11,880 trading operations with a total value exceeding AED14.37bn ($3.9bn), reflecting a growth of 40 per cent compared to 2023. He clarified that the 'Al Jurf 1' area witnessed the highest sale value of AED300m ($81.7m), while the highest mortgage value of AED155m ($42.2m) was recorded in the Al Amera area. Al Muhairi stated that the increased activity of the real estate market was expected, considering the rise in investment volume due to supportive incentives and exceptional facilities provided by Ajman to investors, making the real estate sector one of the fastest-growing sectors and a key pillar of the local economy as it is a major contributor to the activity of other vital sectors. He explained that the Eastern sector topped the list of the most traded sectors, ahead of both the Southern and Northern sectors, with the Hay Al Helio 2 at the top of the most traded neighbourhoods list, followed by Al Yasmin and Al Zahia.
