Latest news with #AED36bn
Arabian Business
04-03-2025
- Business
- Arabian Business
Dubai real estate sales hit AED100bn in record time, Ramadan boost expected
Dubai real estate sales reached AED100bn ($27.2bn) in record time this year, according to W Capital brokerage. W Capital said the landmark achievement was reached on March 4 this year. At just 44 working days this is the fastest the market has seen this level of sales, after hitting the AED100bn mark on March 22, 2024, last year, according to Land Department data. Dubai real estate sales The same value was achieved on April 11 in 2023. Walid Al Zarooni, W Capital CEO, said: 'The succession of these record numbers confirms beyond doubt that the real estate sales boom in Dubai is ongoing and will not subside in the near future, which will make 2025 a new historic year for the real estate market in the emirate'. Al Zarooni stated that sales in the first two months of the year recorded AED94.8bn ($25.8bn), resulting from more than 30,000 transactions, an increase of 32 per cent year-on-year, according to data from DLD. The real estate market transactions during the same period amounted to about AED127.4bn ($34.7bn). Walid Al Zarooni expected that real estate sales during Ramadan this year would be record-breaking, noting that they recorded more than AED36bn ($9.8bn) last year, and about AED30bn ($8.2bn) in Ramadan the year before. He confirmed that prospects of growth this year will be based on the momentum that has continued since 2020, in light of the market benefiting from the economic recovery and the success of plans to attract foreign investors and provide residency facilities. Walid Al Zarooni added that there are many internal factors that have contributed to enhancing this growth, most notably the political, security, and economic stability enjoyed by the UAE, which has provided great support for the ongoing activity in the real estate market. Al Zarooni explained that the Dubai real estate market continues to achieve sustainable growth, competes with the largest global markets, and even outperforms them in some aspects. He pointed out that Dubai has become the first and preferred real estate market for many wealthy people and investors in the region and the world. Al Zarooni said: 'Dubai has managed to achieve the difficult equation of providing an ideal environment for work, investment and living at the same time. This diversity in the economic environment reflects the availability of good investment opportunities, in addition to legislation that guarantees the rights of all, which enhances investors' confidence in the local economy. 'Moreover, the state-of –the-art infrastructure, security and safety have contributed to enhancing the attractiveness of the real estate market'.
Zawya
04-03-2025
- Business
- Zawya
Dubai real estate sales recorded the first AED100bln since the beginning of 2025,W Capital
Successive record numbers in real estate sales make sure that 2025 will be a new historic year Dubai, United Arab Emirates: "W Capital" the Dubai-based real estate brokerage, has assessed the Dubai real estate market which recorded sales worth AED100bn from the beginning of 2025 until March 4 (44 working days), at unprecedented range which means it is the fastest to reach such a value in a short time. According to W Capital's assessment, which relied on data from the Dubai Land Department, the AED 100bn sales recorded last year were achieved on March 22, 2024, while the same value was achieved on April 11, 2023. 'The succession of these record numbers confirms beyond doubt that the real estate sales boom in Dubai is ongoing and will not subside in the near future, which will make 2025 a new historic year for the real estate market in the emirate,' said Walid Al Zarooni, W Capital CEO. Al Zarooni stated that sales in the first two months of the year (January and February) recorded AED 94.8bn, resulting from more than 30,000 transactions, an increase of 32% year-on-year, according to data from DLD. The real estate market transactions during the same period amounted to about AED 127.4bn. Walid Al Zarooni expected that real estate sales during Ramadan this year would be record-breaking, noting that they recorded more than AED36bn last year, and about AED30bn in Ramadan the year before (2023). He confirmed that prospects of growth this year will be based on the momentum that has continued since 2020, in light of the market benefiting from the economic recovery and the success of plans to attract foreign investors and provide residency facilities. Walid Al Zarooni added that there are many internal factors that have contributed to enhancing this growth, most notably the political, security, and economic stability enjoyed by the UAE, which has provided great support for the ongoing activity in the real estate market. Al Zarooni explained that the Dubai real estate market continues to achieve sustainable growth, competes with the largest global markets, and even outperforms them in some aspects. He pointed out that Dubai has become the first and preferred real estate market for many wealthy people and investors in the region and the world. 'Dubai has managed to achieve the difficult equation of providing an ideal environment for work, investment and living at the same time. This diversity in the economic environment reflects the availability of good investment opportunities, in addition to legislation that guarantees the rights of all, which enhances investors' confidence in the local economy. Moreover, the state-of –the-art infrastructure, security and safety have contributed to enhancing the attractiveness of the real estate market.' He concluded. About 'W Capital': 'W Capital Real Estate Brokerage' was established in 2007 in the United Arab Emirates, specializing in real estate development, buying, selling, renting as well as consulting services for real estate companies. Since its inception, the company has sold over AED 200 million of properties to major developers. About Walid Al Zarooni: Walid Al Zarooni is the founder and Chairman of W Capital Real Estate Brokerage. A certified real estate expert from the Dubai Real Estate Regulatory Agency 'RERA', he is the author of 'Secrets of the Smart Real Estate Investor'. Al Zarooni is one of the first experts to harness social media to raise the public awareness about real estate. He provides almost free advice on a daily basis, as well as latest news and updated information through videos and posts on social media platforms such as " Instagram ",' Snapchat " and 'Twitter', on which he is very active.
Arabian Business
10-02-2025
- Business
- Arabian Business
UAE real estate: Palace Group celebrates anniversary as portfolio valued at $10bn
UAE real estate developer Palace Group is celebrating its 25th anniversary, revealing a AED36bn ($9.8bn) portfolio spanning more than 200 super-prime projects across the country. Founded in 1999 by Wissam Damaa, Palace Group has played a defining role in shaping the UAE's luxury real estate sector, delivering some of the most exclusive properties across Abu Dhabi, Dubai, Sharjah, and Ras Al Khaimah. With AED20bn ($5.4bn) in completed projects and AED16bn ($4.4bn) currently under development, the company continues to raise the bar for ultra-luxury living. Palace Group real estate in the UAE Over the past 25 years, Palace Group has established itself as a market leader in ultra-luxury residential developments, from bespoke waterfront mansions to high-rise landmarks. Notable projects include: 15 iconic beachfront mansions in communities like La Mer and Jumeirah Bay Island Aya, featuring 70 luxury residences in Dubai Gardens The Cliffs, a wellness-focused development along the Dubai Canal A landmark multi-billion-dirham project launching in early 2025 Wissam Damaa, Founder and CEO of Palace Group, said: 'Our 25th anniversary is more than a milestone it reflects our commitment to redefining luxury real estate. Our robust portfolio is a testament to our enduring achievements and ongoing commitment to elevating standards in luxury real estate.' Since 2016, Palace Group has integrated renewable energy solutions, hydrogen technology, and water desalination into its developments, aligning with the UAE's Vision 2031.
