Latest news with #DanielHadi
Arabian Business
3 days ago
- Business
- Arabian Business
Dubai real estate experts share 3 market forecasts after record $17bn sales in April
The Dubai real estate market achieved an all-time high of AED62.1bn ($17bn) in monthly sales. As the market continues to set new records, Property Finder convened an exclusive roundtable with the emirate's top real estate leaders to chart the path forward. Amid the unprecedented market performance, industry heavyweights expressed cautious optimism, anticipating that transaction activity will continue to accelerate throughout 2025 as investors adapt to evolving market dynamics. Here are three key insights that emerged from the roundtable, offering a window into what's driving Dubai real estate in 2025. Dubai real estate outlook is largely positive Despite global headwinds, from rising inflation to geopolitical shifts and economic volatility, Dubai's real estate leaders remain firmly optimistic. Their confidence is rooted in sustained investor interest and robust demand, particularly from international buyers. In fact, Property Finder data shows that the US led all international markets in search traffic, followed by the UK and India, which marks a huge shift and indicates the interest in the region from the US. There's also some relief in sight for long-term renters, with experts forecasting notable price drops in premium districts such as Dubai Marina and Jumeirah. While this may slightly affect rental yields for landlords, it signals a rebalancing of the market. Daniel Hadi, CEO of Engel & Völkers, said: 'The market has been extraordinary. We have delivered the best quarter in our history. We are positioned at the beginning of what I believe will be two more years of remarkable growth in this bull run.' Sam McCone, Managing Director of McCone Properties, said: 'I remain profoundly optimistic about what lies ahead. Dubai's true narrative of exceptional potential and opportunity still remains a bit of a hidden secret that the world has yet to fully recognise.' Dubai off-plan real estate remains lucrative Off-plan sales continue to drive robust market revenues, enhanced by attractive commission structures of 8-10 per cent that reward developers and agents alike. Industry experts anticipate a natural market evolution as these high-yield opportunities transition toward a more balanced supply-demand landscape, allowing for strategic diversification in the sector. John Lyons, Managing Director, Espace Real Estate, said: 'We've seen a very strong start to the year, with Q1 revenue up 29.1 per cent, driven by both the continued expansion of our business and the positive momentum in Dubai's property market. 'The number of brokers contributing to company revenue has increased by 26 per cent year-on-year, reflecting our strategic growth efforts. 'While market conditions remain buoyant, we expect rental yields to come under pressure over the medium term as new apartment supply comes online and rental growth begins to stabilise' Dubai real estate resale momentum in luxury and larger home segments Handovers of properties purchased off-plan, have sparked strong resale activity in Abu Dhabi's luxury segment, especially for AED8m+ ($2.2m+) villas, with Dubai-based buyers dominating transactions. Meanwhile Dubai's high-end segment continues to attract investors with no signs of slowing down anytime soon. Property Finder data reveals strong demand for larger living spaces, with 64 per cent of villa and townhouse searches targeting properties with four or more bedrooms. Kika Pavese, Managing Director of MD Real Estate, said: 'Handovers have transformed our business towards resales. Demand for properties in the AED8-20m ($2.2-5.45m) range has exploded, driven substantially by Dubai-based buyers. We're consistently closing 10-15 monthly transactions in Jumeirah Islands alone.' Simon Baker, Managing Director of Haus & Haus, said: 'International buyers continue targeting villas aggressively and are currently our safest segment.' Abdullah Alajaji, Founder and Managing Director of Driven Properties, said: 'Premium investments continue to have enduring value with healthy market interest, while rental rates are adjusting to create more accessible entry points across all segments. 'For example, luxury villas in prestigious Jumeirah that previously commanded AED3m ($817,000) are now available at a more attractive price point of AED2m ($545,000). 'This strategic market recalibration aligns with global investment trends, creating opportunities for astute investors to maximise value in a maturing market landscape.' Michael Lahyani, Founder and CEO of Property Finder, said: 'We brought the industry's top leaders together at a crucial point for the market. Yes, transaction volumes are strong, but we're also seeing signs of change.' The real estate leaders' roundtable was chaired by Property Finder's CEO and Founder, Michael Lahyani, and attended by senior leaders, including: Richard Waind, CEO of BetterHomes Daniel Hadi, CEO of Engel & Völkers John Lyons, Managing Director, Espace Real Estate Kika Pavese, Managing Director MD Real Estate Aron Lomax, Co-founder and Managing Partner of Treo Homes Abdullah Alajaji, Founder and Managing Director of Driven Properties Lewis Allsopp, Chairman of Allsopp & Allsopp Firas Al Msaddi, Founder and Owner of fäm Properties Simon Baker, Managing Director of Haus & Haus
Zawya
4 days ago
- Business
- Zawya
What's next for Dubai real estate? Property Finder gathers a who's who of industry leaders to discuss what is shaping 2025
Dubai, United Arab Emirates: Riding the momentum of a record-breaking April, where Dubai's real estate market achieved an all-time high of AED 62.1 billion in monthly sales, Property Finder convened an exclusive roundtable with the emirate's top real estate leaders to chart the path forward. Amidst this unprecedented market performance, industry heavyweights expressed cautious optimism, anticipating that transaction activity will continue to accelerate throughout 2025 as investors adapt to evolving market dynamics. Here are three key insights that emerged from the roundtable, offering a window into what's driving Dubai real estate in 2025. #1 The outlook is largely positive Despite global headwinds, from rising inflation to geopolitical shifts and economic volatility, Dubai's real estate leaders remain firmly optimistic. Their confidence is rooted in sustained investor interest and robust demand, particularly from international buyers. In fact, Property Finder data shows that the US led all international markets in search traffic, followed by the UK and India - which marks a huge shift and indicates the interest in the region from the US. There's also some relief in sight for long-term renters, with experts forecasting notable price drops in premium districts such as Dubai Marina and Jumeirah. While this may slightly affect rental yields for landlords, it signals a rebalancing of the market. Daniel Hadi, CEO of Engel & Völkers, commented: 'The market has been extraordinary. We have delivered the best quarter in our history. We are positioned at the beginning of what I believe will be two more years of remarkable growth in this bull run.' Sam McCone, Managing Director of McCone Properties, echoed this sentiment: 'I remain profoundly optimistic about what lies ahead. Dubai's true narrative of exceptional potential and opportunity still remains a bit of a hidden secret that the world has yet to fully recognise.' #2 Off-plan remains lucrative Off-plan sales continue to drive robust market revenues, enhanced by attractive commission structures of 8-10% that reward developers and agents alike. Industry experts anticipate a natural market evolution as these high-yield opportunities transition toward a more balanced supply-demand landscape, allowing for strategic diversification in the sector. John Lyons, Managing Director, Espace Real Estate, weighed in: 'We've seen a very strong start to the year, with Q1 revenue up 29.1%, driven by both the continued expansion of our business and the positive momentum in Dubai's property market. The number of brokers contributing to company revenue has increased by 26% year-on-year, reflecting our strategic growth efforts. While market conditions remain buoyant, we expect rental yields to come under pressure over the medium term as new apartment supply comes online and rental growth begins to stabilise' #3 Resale momentum in luxury and larger home segments Handovers of properties purchased offplan, have sparked strong resale activity in Abu Dhabi's luxury segment, especially for AED +8M villas, with Dubai-based buyers dominating transactions. Meanwhile Dubai's high-end segment continues to attract investors with no signs of slowing down anytime soon. Property Finder data reveals strong demand for larger living spaces, with 64% of villa and townhouse searches targeting properties with four or more bedrooms. Kika Pavese, Managing Director of MD Real Estate, said: 'Handovers have transformed our business towards resales. Demand for properties in the AED 8-20 million range has exploded, driven substantially by Dubai-based buyers. We're consistently closing 10-15 monthly transactions in Jumeirah Islands alone.' Simon Baker, Managing Director of Haus & Haus, confirmed: 'International buyers continue targeting villas aggressively and are currently our safest segment.' Abdullah Alajaji, Founder and Managing Director of Driven Properties, offered a nuanced perspective: 'Premium investments continue to have enduring value with healthy market interest, while rental rates are adjusting to create more accessible entry points across all segments. For example, luxury villas in prestigious Jumeirah that previously commanded AED 3 million are now available at a more attractive price point of AED 2 million. This strategic market recalibration aligns with global investment trends, creating opportunities for astute investors to maximize value in a maturing market landscape.' Michael Lahyani, Founder & CEO of Property Finder, summarised: 'We brought the industry's top leaders together at a crucial point for the market. Yes, transaction volumes are strong, but we're also seeing signs of change. At Property Finder we strive to bring clarity through data to help brokers adapt and buyers make smarter decisions in any environment.' The real estate leaders' roundtable was chaired by Property Finder's CEO and Founder, Michael Lahyani, and attended by senior leaders, including Richard Waind, CEO of BetterHomes; Daniel Hadi, CEO of Engel & Völkers; John Lyons, Managing Director, Espace Real Estate; Kika Pavese, Managing Director MD Real Estate; Aron Lomax, Co-founder and Managing Partner of Treo Homes; Abdullah Alajaji, Founder and Managing Director of Driven Properties; Lewis Allsopp, Chairman of Allsopp & Allsopp, Firas Al Msaddi, Founder and Owner of fäm Properties; Simon Baker, Managing Director of Haus & Haus; and Sam McCone, Managing Director of McCone Properties. For more information on Property Finder's Marketwatch, please visit the Insights Hub. 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@
Trade Arabia
6 days ago
- Business
- Trade Arabia
KeyMavens, Engel achieve sales milestone at Dubai urban resort
KeyMavens Real Estate Development and Engel & Völkers has achieved a key milestone with 90% of its units at Dubai's first urban residential resort - Montage - being sold out. The duo celebrated the overwhelming success at an exclusive event held at the Mandarin Oriental Jumeira. The evening brought together top brokers, VIP guests, and global investors to honour the project's success. Scheduled for completion in 2027, Montage offers one and two-bedroom apartments with contemporary interiors crafted from travertine, wood, and backlit onyx, creating a warm and elegant ambience. The project is designed for those seeking more than just a home, it is an investment in well-being, adventure, and connection, setting a new benchmark for urban living in Dubai, said the developer. "Reaching 90% sold out is a powerful validation of the vision KeyMavens brought to life with Montage," remarked Daniel Hadi, CEO of Engel & Völkers Middle East. "There's a clear demand for homes that offer both immersive lifestyle experiences and long-term investment potential," he added. KeyMavens CEO Jason Kiszonak said: "Luxury is not just about aesthetics - it's about creating lasting value and an elevated way of living. With Montage, we are introducing a unique residential concept where quality and experience take centre stage." "Every detail, from our wellness-driven amenities to the project's strategic location, has been carefully planned to offer an exceptional living experience," stated Kiszonak. At the heart of Montage is Portola, a full-floor wellness and entertainment hub curated for relaxation, rejuvenation, and discovery. The development's world-class amenities include: *Three-Tiered Swimming Pools – Over 50 meters of swimmable distance, featuring a lagoon-style children's pool, swim-up seating, and choreographed mist & lighting effects. *Portola Wellness Hub – Featuring a snow room, Himalayan salt sauna, oxygen therapy room, cold plunge therapy, red-light therapy, and immersive relaxation lounges. *Portola Gym – A state-of-the-art 3,000 sq. ft. fitness center *Virtual Reality Experience Room – A 900 sq. ft. immersive gaming and adventure space, featuring hydraulic motion systems akin to theme park attractions. As the exclusive sales and marketing partner, Engel & Völkers brings its global reach and decades of real estate expertise to the success of Montage, said Hadi. The collaboration between Engel & Völkers and KeyMavens has been instrumental in introducing a new era of human-centric, wellness-forward living in Dubai. With prices starting from AED1.1 million ($299,451) and an attractive payment plan, Montage is a compelling proposition for investors and end-users alike, he added. Located in Al Jaddaf, Montage offers a serene waterfront lifestyle with seamless connectivity to Dubai's key districts, including Downtown Dubai, Sheikh Zayed Road, and the upcoming Etihad Rail station.
Zawya
6 days ago
- Business
- Zawya
Engel & Völkers and KeyMavens celebrate Dubai's first urban residential resort
Dubai, UAE: KeyMavens Real Estate Development and Engel & Völkers Middle East celebrated the overwhelming success of Montage, Dubai's first urban residential resort, at an exclusive event at the Mandarin Oriental Jumeira. The evening brought together top brokers, VIP guests, and global investors to honour the project's success. 'Reaching 90% sold out is a powerful validation of the vision KeyMavens brought to life with Montage,' said Daniel Hadi, CEO of Engel & Völkers Middle East. 'There's a clear demand for homes that offer both immersive lifestyle experiences and long-term investment potential.' Scheduled for completion in 2027, Montage offers one and two-bedroom apartments with contemporary interiors crafted from travertine, wood, and backlit onyx, creating a warm and elegant ambience. The project is designed for those seeking more than just a home, it is an investment in well-being, adventure, and connection, setting a new benchmark for urban living in Dubai. "Luxury is not just about aesthetics—it's about creating lasting value and an elevated way of living. With Montage, we are introducing a unique residential concept where quality and experience take centre stage," said Jason Kiszonak, CEO of KeyMavens. "Every detail, from our wellness-driven amenities to the project's strategic location, has been carefully planned to offer an exceptional living experience." Unparalleled Amenities: The Portola Experience At the heart of Montage is Portola, a full-floor wellness and entertainment hub curated for relaxation, rejuvenation, and discovery. The development's world-class amenities include: Three-Tiered Swimming Pools – Over 50 meters of swimmable distance, featuring a lagoon-style children's pool, swim-up seating, and choreographed mist & lighting effects. Portola Wellness Hub – Featuring a snow room, Himalayan salt sauna, oxygen therapy room, cold plunge therapy, red-light therapy, and immersive relaxation lounges. Portola Gym – A state-of-the-art 3,000 sq. ft. fitness center Virtual Reality Experience Room – A 900 sq. ft. immersive gaming and adventure space, featuring hydraulic motion systems akin to theme park attractions. Prime Location in Al Jaddaf Located in Al Jaddaf, Montage offers a serene waterfront lifestyle with seamless connectivity to Dubai's key districts, including Downtown Dubai, Sheikh Zayed Road, and the upcoming Etihad Rail station. Residents can easily walk to the Al Jaddaf Metro Station, with Dubai International Airport and Downtown Dubai a short drive away. This prime location ensures easy access to the city's vibrant business and lifestyle hubs while maintaining a tranquil, resort-like atmosphere. A Strategic Partnership for Success As the exclusive sales and marketing partner, Engel & Völkers brings its global reach and decades of real estate expertise to the success of Montage. The collaboration between Engel & Völkers and KeyMavens has been instrumental in introducing a new era of human-centric, wellness-forward living in Dubai. With prices starting from AED 1.1M and an attractive payment plan, Montage is a compelling proposition for investors and end-users alike. Press contact: Diana Džaka Bičo Marketing Director Office 21 Mezzanine Level, Golden Mile 2, Palm Jumeirah, Dubai UAE Dubai, United Arab Emirates Telephone number: +971 52 881 8057 Flor Pamintuan PR Account Director Ishraq Communications LLC flor@ About KeyMavens: KeyMavens is a boutique real estate developer with over 15 years of experience and a portfolio of more than 100 completed projects. Committed to durability, quality, and well-being, KeyMavens is known for crafting developments that seamlessly blend luxury with meaningful experiences. Montage is the latest embodiment of this vision, delivering best-in-class living at an accessible price point. About Engel & Völkers: Engel & Völkers is one of the world's leading service companies specialized in the brokerage of premium residential property, commercial real estate, yachts and aircrafts. For over 45 years now, the wishes and needs of private and institutional clients have had top priority, giving rise to the ongoing development of a range of services relating to all aspects of real estate. Sales and leaseholds, as well as consultancy for various investment opportunities in the real estate segment are among the core competencies of more than 16,500 people operating under the Engel & Völkers brand. The company is currently operating in over 35 countries on five continents. Intensive training schemes in its in-house real estate Academy and the high level of quality assurance governing its systematically structured service provision are key factors that account for the company's success. Engel & Völkers develops digital tools and IT products on an ongoing basis in order to keep its service as efficient as possible. In doing so, the company is setting new standards in digital solutions for property brokerage. About Engel & Völkers Middle East: Established in 2014, Engel & Völkers Middle East has its offices in Dubai, United Arab Emirates. The team consists of over 200 trusted agents, each focusing on premium residential and commercial properties, serving as experts in their respective areas. The company recently established a separate entity for commercial real estate (Engel & Völkers Commercial Middle East). Engel & Völkers Commercial serves as an entry point to exceptional commercial real estate opportunities in Dubai, from attractive office spaces to industrial complexes. The Private Office provides services for affluent clients and has access to premium real estate globally. Whether you're in the market to rent, buy, or sell a property, Engel & Völkers Middle East is a perfect choice to achieve your real estate goals.
The National
20-05-2025
- Business
- The National
Dubai's mid-market residential communities experience strong surge in demand
Dubai's emerging mid-market communities are experiencing an increase in demand for residential property as 1,000 residents a day move to the emirate. Property Finder recorded 750,000 searches for sales and rentals a month for Jumeirah Village Circle in April, a 3 per cent increase year-on-year, with the top five searched-for buildings including Binghatti Corner, Belgravia and Bloom Towers. Key search terms for this area included 'brand new', '12 cheques' and 'ready to move', with most-desired amenities such as a balcony, a maid's room, pool, gym and central air-conditioning. Al Furjan was searched for half as much, but its growth was strongest among any area listed on Property Finder's database, with an increase of 23.4 per cent yearly. Popular towers included Murooj Al Furjan, Avenue Residences, North Village and Azizi Residences, with the accessibility of the Metro and pet-friendly accommodation factors in users' search criteria. This surge in demand has led to increased rental and sales prices. In Al Furjan, apartment sale prices increased by 15.4 per cent year-on-year in the first quarter of 2025, according to Property Monitor, while townhouses and villas were up 30.3 per cent and 42.5 per cent, respectively. This reflects rising confidence in the community's long-term potential, Daniel Hadi, chief executive of Engel & Volkers Middle East, told The National. JVC retained its lead in off-plan and resale apartment sales, according to the company's first-quarter 2025 market report, supported by attractive pricing, strong rental yields and proximity to major road networks. 'Similar communities such as JVC, Arjan, Silicon Oasis and Town Square also outperformed the Dubai average price growth of around 16 per cent over the last 12 months, with apartment prices rising between 21 per cent and 25 per cent,' Mr Hadi added. 'These areas are increasingly popular with first-time buyers, investors and young families seeking well-connected, amenity-rich neighbourhoods at more accessible price points.' This all comes as residential property sales across Dubai increased by 22.4 per cent year-on-year, with a 29 per cent increase in the total value sold, according to Engel & Volkers. Dubai Land Department data also revealed Dh62.1 billion ($16.9 billion) was made in total sales in April − the highest monthly total for the emirate. This is a 94 per cent year-on-year surge and a 54 per cent rise in transaction volume, according to Property Finder. 'Dubai's real estate market continues to scale new heights, propelled by bold city planning, regulatory innovation and investor trust,' said Cherif Sleiman, chief revenue officer at Property Finder. 'The sustained growth across both primary and secondary segments is resounding proof of its resilience and long-term appeal.' 'It's no surprise residents are making the switch to property ownership,' Kundan Choudhary, founder of Prime Estates, told The National. 'Especially with Al Furjan offering great value for villas and JVC/JVT standing out for affordable apartment options. With prices starting from under Dh1 million for a decent home, we have seen over a 30 per cent increase in demand for these areas compared to last year.' Mr Hadi said they expect these communities to remain in demand as new infrastructure and amenities continue to be added. 'However, price growth may moderate as more off-plan supply begins to hand over in the coming quarters.' One such project includes Tasmeer Indigo Properties' SquareX Residence, with 170 residential units being constructed in the heart of JVC. About 90 per cent of these spaces sold within three months of receiving the building permit, said company chairman Aman Kassim. Demand has been especially strong from young professionals – millennials and Gen Z end users, he added. Life coach Anne Jackson bought her JVC villa off-plan in 2006 with little idea of how the community would grow. 'Back then, the plan announced by master developer Nakheel in 2004 sounded idyllic: a central park with a radial design, office spaces, villa clusters, apartment complexes, schools, supermarkets and even a European-style tram,' she told The National. 'But the global credit crisis in 2008 dramatically slowed progress. Developers withdrew, projects stalled and by the time I moved in – 18 months behind schedule – in 2010, the vision had not yet materialised.' Over the past 15 years, she's watched the neighbourhood flourish, however. 'I had lived in Dubai since January 2000 and had already seen how neighbourhoods could be transformed from barren desert to thriving communities. I knew JVC would grow. There was something uniquely charming about watching that evolution unfold around me.' She said the transformation has been 'remarkable' and she firmly believes JVC is the 'best place to live'. 'When we moved in, my children were four and seven. Now they're 22 and 19 and JVC is still 'home' when they return from university. They've had the stability of growing up in the same house, attending the same school, and forming lifelong friendships. That's a gift not every city can offer in such a fast-changing world.' Long-term Dubai resident Sara Loch, who recently bought a three-bedroom townhouse in Al Furjan, said one of their main deciding factors on location was the potential for property appreciation. 'It doesn't beat some of the older areas like The Lakes, but we felt it was a good investment for our budget,' she said. 'The size of land you get in this area is much better value that most others areas in Dubai.' Tatiana Tonu, chief executive of developer Object 1, said Al Furjan is establishing itself as a trusted investment hub, driven by high demand and long-term growth potential. 'Its strategic location between two major highways, metro access and proximity to commercial hubs have boosted its appeal, with rental transactions rising 8 per cent and one-bedroom rental values surging 39 per cent, delivering yields of up to 9 per cent,' she said. Meanwhile, JVC remains Dubai's most actively traded off-plan residential cluster with strong value and competitive rents, she added. Rents in other affordable villa communities such as Dubailand, Meydan and International City are also soaring between 39 per cent and 46 per cent year on year. 'Mixed-use projects, which integrate residential, retail and recreational elements, are witnessing heightened demand as buyers increasingly value walkable, lifestyle-centric environments,' said Ms Tonu. While these areas are popular in terms of volume, the appeal of wealthier locales such as Palm Jumeirah, Jumeirah and DIFC also shows no signs of slowing down. 'Off-plans in Dubai have never been more varied or exciting, with something for every budget,' said luxury property adviser Laaleen Sukhera of Liv Squared. She said now is the time to invest. 'Expect rapid transformation citywide for Dubai 2040 including master communities in the vicinity of Al Maktoum Airport … We're also seeing a boost in global interest in light of Trump's tariff effect, with more interest from US investors.' For anyone seeking strong returns, Ms Tonu advised investors look at properties in Downtown Dubai, Dubai Marina and JVC, which she said 'continue to be standout options in a thriving market'.
