Latest news with #AlMsaddi
Mid East Info
02-06-2025
- Business
- Mid East Info
Dubai Real Estate hits new monthly sales peak of AED66.8 Billion in May - Middle East Business News and Information
Demand base remains strong, market is evolving, while commercial sector faces undersupply – Firas Al Msaadi Dubai, UAE: The Dubai real estate market set a new all-time monthly sales record of AED 66.8 billion in May, a 49.9% increase in value on the same month last year. A market update issued today by fäm Properties reveals that last month's total of 18,693 transactions also made it the second best-selling month on record in terms of volume. The company's CEO, Firas Al Msaddi, says the data from DXBinteract underlines the strength and stability of a market which is evolving, without any broad threat of oversupply in the residential sector, but now facing an undersupply of office space. In response to a recent Fitch Ratings forecast for a 15% correction in Dubai residential property prices, Al Msaddi said: 'While growth has slowed, that's not the same as a correction. A slowdown in growth is a sign of market maturity, not market weakness. 'Approximately 363,000 residential units are expected to be delivered in Dubai over the next five years. However, over 270,000 of those are still at early construction stages, with only 0–20% progress as of today.' He states that just 12,000 units are close to completion (80–99% progress), dispelling any notion of a market-wide oversupply. Additionally, completed project deliveries in 2024 are down 23% compared to 2023, showing the city is not facing a glut of ready units. 'In specific segments, there may be temporary price adjustments,' said Al Msaadi. 'For example, Jumeirah Village Circle is expected to receive around 20,000 new units over the coming 4 to 5 years. 'This concentrated delivery volume may place short-term pressure on pricing in that area, but this is not reflective of the broader market. Even if a correction occurs in pockets of the residential sector, it's temporary. Dubai's demand base is strong, and absorption will catch up.' Meanwhile, Dubai is facing an undersupply of office space. 'Quality commercial space remains extremely limited, with strong demand and minimal new inventory, especially in prime business zones,' says Al Msaddi. 'As a result, no price correction is expected in the office segment, which continues to see firm value appreciation.' Dubai property sales in May have soared in value over the last five years – from AED2.3 billion (1,400 transactions) in 2020, AED11.1 billion (4,400) in 2021, AED18.3 billion (6,600) in 2022, AED33.6 billion (11,600) in 2023 and AED46.4 billion (17,600) in 2024. The most expensive individual property sold last month was a luxury villa at Palm Jumeirah which fetched AED300 million. The most expensive apartment sold during the month went for AED164 million at Jumeirah Residences Asora Bay. The Dubai real estate market is supported not only by construction dynamics, but by global migration patterns of high-net-worth individuals. As per DXBinteract's investor profiling and international market comparisons, London lost 45% of its millionaires over the past decade, while Dubai gained 212% during the same period. 'This contrast reflects a global shift in investor confidence,' says Al Msaddi 'Dubai has become a magnet for global capital, not just as a lifestyle destination, but as a secure investment environment where wealth is preserved and grown. It's where millionaires come to live, and more importantly, where they choose to invest.' With properties worth more than AED5 million accounting for 14% of total sales last month, 30% came in the AED1-2 million range, 26% below AED1 million, 18% between AED2-3 million and 12% between AED3-5 million. Overall, first sales from developers far exceeded those of resales – 66% over 34% in terms of volume and 67% over 33% in overall value.
Mid East Info
24-04-2025
- Business
- Mid East Info
Mo Gawdat to deliver keynote as Dubai Real Estate Summit turns industry spotlight on AI, Innovation - Middle East Business News and Information
Firas Al Msaddi says having global tech visionary on stage reflects city's commitment to stay ahead of the curve Dubai, UAE: April 24, 2025: Mo Gawdat, former Chief Business Officer at Google [X], renowned author and internationally recognised voice on AI and responsible innovation, will deliver the keynote at a major real estate summit in Dubai next month. Taking place at Coca-Cola Arena on May 16, Game Changers 2.0 will bring together industry professionals, developers, and tech leaders to explore how artificial intelligence, big data, and digital innovation are rapidly reshaping the industry. The event arrives as Dubai's property market continues to expand, with last year's record AED 528 billion in transactions followed by AED 142.7 billion in Q1 2025, the second-highest quarterly figure on record. As the city navigates this unprecedented growth, Game Changers 2.0 will spotlight how digital tools and AI-driven strategies can provide market clarity, reduce inefficiencies, and elevate service standards across the industry. Mo Gawdat's bestselling works, including 'Solve for Happy' and 'Scary Smart', have explored how technology can augment human decision-making. At the summit he will deliver a keynote on how AI is changing consumer behaviour, investment decision-making, and urban development – topics that are increasingly relevant for policymakers and property stakeholders alike. His appearance signals a growing convergence between tech and real estate, as Dubai seeks to future-proof its property sector. Gawdat's perspective is expected to touch on both the opportunities and risks of AI adoption, including its ethical use in consumer-facing services and its potential to accelerate smart city ambitions. Building on the success of the inaugural Game Changers event last October, the summit is organised by Firas Al Msaddi, CEO of fäm Properties and a leading figure in Dubai real estate, having built one of city's largest tech-driven brokerages, which currently manages a property investment portfolio of over AED15 billion. 'Having a global tech visionary like Mo Gawdat on stage reflects our commitment to stay ahead of the curve,' said Al Msaddi. 'Real estate doesn't exist in a vacuum. It's influenced by the same AI revolution sweeping other sectors. 'By learning directly from those at the forefront of this revolution, we can ensure that Dubai remains not just in step with world trends, but a few steps ahead. 'This event is about elevating the entire real estate ecosystem by embracing innovation,' added Al Msaddi. 'In an environment as dynamic as Dubai's, success hinges on how quickly we adapt to new technology and insights. By sharing data-driven strategies and AI-powered tools, we're ensuring brokers and investors can not only keep up with the market, but actually set the pace for its future direction.' Also joining Gawdat and Al Msaddi on stage at the Middle East's largest indoor arena will be Dr. Mahmood AlBurai, Dubai Land Department's Senior Director Real Estate policies and innovation. Dr AlBurai will open the summit with a focus on innovation, policy leadership, and the evolving city's real estate landscape. The event will offer panel discussions, interactive sessions, and real-world case studies on topics ranging from harnessing big data for market predictions to training brokers in emerging AI tools – all aimed at keeping Dubai's real estate professionals ahead of the curve. One of the core objectives of Game Changers 2.0 is to give real estate brokers the clarity they've been searching for when it comes to AI – not just what it is, but what it means for them. The event stands out for its highly engaging, interactive format where the speakers connect directly with the audience to answer the real questions: What's in it for me? What should I be doing today? How do I stay ahead? Said Al Msaddi: 'Unlike traditional events, this isn't a lecture, it's a live, spontaneous dialogue designed to deliver actionable answers brokers can apply in their daily operations immediately.' Summit sessions will explore how brokers and developers can embed emerging technologies into daily operations – from predictive analytics and automated valuations to AI-led client targeting and lead generation. Providing a roadmap for professionals navigating a fast-changing market, Game Changers 2.0 also reflects a broader regional narrative around digital transformation. As the Gulf economies diversify, real estate – one of the region's most dynamic sectors – is under pressure to adapt. About Coca-Cola Arena Opened in June 2019, Coca-Cola Arena has revolutionized the live entertainment industry in the UAE and throughout the Middle East. With a 17,000-seat capacity and unique automated seating design, the arena is equipped to host a diverse range of events all year round, establishing Dubai as a major destination on the global events circuit. The award-winning arena is the premier venue for sporting tournaments, international concerts, comedy shows, live theatre, corporate gatherings, exhibitions and conferences, gala dinners and the official home of Dubai Basketball, the city's first professional sports franchise team competing in European league competitions. Located in the heart of City Walk, Coca-Cola Arena is just 15 minutes from Dubai International Airport and a 5-minute walk from the nearest Metro station. The Dubai landmark is an asset of the Dubai Holding Entertainment portfolio and is managed by ASM Global, the world's leading venue management company. Ends
Zawya
24-04-2025
- Business
- Zawya
Mo Gawdat to deliver keynote as Dubai real estate summit turns industry spotlight on AI, Innovation
Dubai, UAE: Mo Gawdat, former Chief Business Officer at Google [X], renowned author and internationally recognised voice on AI and responsible innovation, will deliver the keynote at a major real estate summit in Dubai next month. Taking place at Coca-Cola Arena on May 16, Game Changers 2.0 will bring together industry professionals, developers, and tech leaders to explore how artificial intelligence, big data, and digital innovation are rapidly reshaping the industry. The event arrives as Dubai's property market continues to expand, with last year's record AED 528 billion in transactions followed by AED 142.7 billion in Q1 2025, the second-highest quarterly figure on record. As the city navigates this unprecedented growth, Game Changers 2.0 will spotlight how digital tools and AI-driven strategies can provide market clarity, reduce inefficiencies, and elevate service standards across the industry. Mo Gawdat's bestselling works, including 'Solve for Happy' and 'Scary Smart', have explored how technology can augment human decision-making. At the summit he will deliver a keynote on how AI is changing consumer behaviour, investment decision-making, and urban development - topics that are increasingly relevant for policymakers and property stakeholders alike. His appearance signals a growing convergence between tech and real estate, as Dubai seeks to future-proof its property sector. Gawdat's perspective is expected to touch on both the opportunities and risks of AI adoption, including its ethical use in consumer-facing services and its potential to accelerate smart city ambitions. Building on the success of the inaugural Game Changers event last October, the summit is organised by Firas Al Msaddi, CEO of fäm Properties and a leading figure in Dubai real estate, having built one of city's largest tech-driven brokerages, which currently manages a property investment portfolio of over AED15 billion. 'Having a global tech visionary like Mo Gawdat on stage reflects our commitment to stay ahead of the curve,' said Al Msaddi. 'Real estate doesn't exist in a vacuum. It's influenced by the same AI revolution sweeping other sectors. 'By learning directly from those at the forefront of this revolution, we can ensure that Dubai remains not just in step with world trends, but a few steps ahead. 'This event is about elevating the entire real estate ecosystem by embracing innovation,' added Al Msaddi. 'In an environment as dynamic as Dubai's, success hinges on how quickly we adapt to new technology and insights. By sharing data-driven strategies and AI-powered tools, we're ensuring brokers and investors can not only keep up with the market, but actually set the pace for its future direction.' Also joining Gawdat and Al Msaddi on stage at the Middle East's largest indoor arena will be Dr. Mahmood AlBurai, Dubai Land Department's Senior Director Real Estate policies and innovation. Dr AlBurai will open the summit with a focus on innovation, policy leadership, and the evolving city's real estate landscape. The event will offer panel discussions, interactive sessions, and real-world case studies on topics ranging from harnessing big data for market predictions to training brokers in emerging AI tools – all aimed at keeping Dubai's real estate professionals ahead of the curve. One of the core objectives of Game Changers 2.0 is to give real estate brokers the clarity they've been searching for when it comes to AI - not just what it is, but what it means for them. The event stands out for its highly engaging, interactive format where the speakers connect directly with the audience to answer the real questions: What's in it for me? What should I be doing today? How do I stay ahead? Said Al Msaddi: 'Unlike traditional events, this isn't a lecture, it's a live, spontaneous dialogue designed to deliver actionable answers brokers can apply in their daily operations immediately.' Summit sessions will explore how brokers and developers can embed emerging technologies into daily operations - from predictive analytics and automated valuations to AI-led client targeting and lead generation. Providing a roadmap for professionals navigating a fast-changing market, Game Changers 2.0 also reflects a broader regional narrative around digital transformation. As the Gulf economies diversify, real estate - one of the region's most dynamic sectors - is under pressure to adapt.
Arabian Business
18-04-2025
- Business
- Arabian Business
Dubai real estate: Property market follows UK model with data-driven approach
Dubai's real estate sector is rapidly evolving towards the standards set by the UK market, with transparency and data-driven practices taking centre stage, according to industry figures. The UK property market, known for its transparency and regulatory structure, has become a benchmark for consumer experience. More than 90 per cent of British buyers now begin their property search online, relying on platforms such as Rightmove and Zoopla. How Dubai's property sector is mirroring UK transparency standards 'These aren't just listing sites – they're trusted sources for property price history, time-on-market indicators, and comparative area insights. Government data is also wide open. HM Land Registry provides granular sales data to the public, and national indices are updated monthly. Regulations now require listing platforms to disclose critical information – tenure, council tax bands, ground rents – before viewings even begin. It's not just about access to listings. It's about access to truth, and Dubai is not far behind,' Firas Al Msaddi, CEO of fäm Properties said. The UK government's HM Land Registry provides comprehensive sales data to the public, with national indices updated monthly. Regulations require listing platforms to disclose critical information before viewings commence. The Dubai Land Department has made significant progress in publishing transaction figures. Central to this development is DXBinteract, created by fäm Properties, which has emerged as the region's leading resource for property intelligence. The platform enables brokers, investors, and buyers to analyse transaction patterns and monitor pricing shifts based on verified information rather than speculation. 'While the platform doesn't yet offer building classification metrics, it's already relied upon as the key source for broader real estate intelligence. As Dubai's regulatory and consumer landscape moves closer to UK standards, DXBinteract is set to lead that transition, supporting professionals who build credibility and serve clients through facts, not sales talk,' Al Msaddi added. In the commercial sector, the UK market is increasingly focused on sustainability and ESG compliance. Government regulations make it illegal to lease commercial spaces below certain energy ratings, with green-certified buildings commanding up to 12.3 per cent higher rental values, according to Knight Frank. More than 70 per cent of new developments in key UK cities aim for BREEAM or LEED certification. 'This is not a trend, it's a shift in how value is defined, and Dubai is entering the same era. Energy-efficient buildings are gaining traction,' Al Msaddi said, adding 'global tenants now ask for sustainability metrics. Developers invest in building performance upgrades to stay relevant.' DXBinteract is positioned to become Dubai's equivalent to UK tools like Costar and EG Radius, though with a stronger local focus. 'The UK real estate market has shown us that data, sustainability, and professional accountability are no longer optional, they are expected. Dubai is stepping into that same phase of evolution,' Al Msaddi concluded.
Mid East Info
17-04-2025
- Business
- Mid East Info
Smarter deals, greater trust: Dubai's real estate evolution gathers pace
Inspired by the U.K., a more transparent and tech-driven market is emerging Dubai, UAE, 17th February, 2025: Dubai's real estate sector is maturing rapidly, and one of the clearest mirrors of where it's heading is the U.K., a market known for its deep transparency, policy structure, and professional accountability. As both residential and commercial practices in Dubai evolve, the U.K. provides a realistic preview of what's likely to take hold next. The U.K. property market has become a benchmark for data-driven consumer experience. Today, over 90% of British buyers start their property search online, and platforms like Rightmove and Zoopla dominate public attention. 'These aren't just listing sites – they're trusted sources for property price history, time-on-market indicators, and comparative area insights,' says Firas Al Msaddi, CEO of fäm Properties 'Government data is also wide open. HM Land Registry provides granular sales data to the public, and national indices are updated monthly. Regulations now require listing platforms to disclose critical information – tenure, council tax bands, ground rents – before viewings even begin. 'It's not just about access to listings. It's about access to truth, and Dubai is not far behind. The Dubai Land Department has taken bold steps in publicizing transaction figures. At the centre of this movement is DXBinteract, created by fäm Properties, and now seen as the region's most advanced resource for property intelligence, statistics, and market insights. It enables Dubai brokers, investors, and buyers to study transaction patterns, monitor pricing shifts, and make informed decisions grounded in verified information rather than speculation. 'While the platform doesn't yet offer building classification metrics, it's already relied upon as the key source for broader real estate intelligence,' says Al Msaddi. 'As Dubai's regulatory and consumer landscape moves closer to U.K. standards, DXBinteract is set to lead that transition, supporting professionals who build credibility and serve clients through facts, not sales talk.' U.K. commercial real estate is undergoing a structural shift toward sustainability, ESG compliance, and performance-led leasing. The government's Minimum Energy Efficiency Standards make it illegal to lease commercial spaces below certain energy ratings. In cities like London, buildings meeting these sustainability thresholds attract higher rents, stronger tenants, and longer leases. According to Knight Frank, green-certified buildings in the U.K. command up to 12.3% higher rental values, and more than 70% of new builds in key cities like London and Manchester aim for BREEAM or LEED certification. 'This is not a trend, it's a shift in how value is defined, and Dubai is entering the same era. Energy-efficient buildings are gaining traction,' says Al Msaddi. 'Global tenants now ask for sustainability metrics. Developers invest in building performance upgrades to stay relevant. 'One challenge remains: where is all this performance data centralized? That's exactly where DXBinteract plays a critical role. While building classification data, such as Grade A or B commercial space, is not yet there, it is fast becoming the definitive tool for tracking every other aspect of Dubai's market activity, from sales volume and transaction cycles to market velocity and supply-demand pressure. 'In many ways, it is to Dubai what tools like Costar and EG Radius are to the U.K., only with a stronger, more localized focus and an ecosystem that is expanding fast. The U.K. real estate market has shown us that data, sustainability, and professional accountability are no longer optional, they are expected. Dubai is stepping into that same phase of evolution.' Ends
