Latest news with #Dh151
The National
26-04-2025
- Business
- The National
Dubai reports rise in multi-year tenancy contracts as rents increase
Dubai is recording an increase in multi-year rental contracts as more tenants are planning to stay in the city for longer and seek to secure favourable lease terms, a new report has found. 'These tenants value the ability to lock-in their rent for better financial planning, while landlords benefit from reduced turnover and fewer vacancy periods,' said Rupert Simmons, directors of leasing at real estate company Betterhomes. 'Longer-term commitments are a positive indicator of a maturing rental market.' One- and two-cheque payments increased by 10 per cent and 11 per cent, respectively, on a quarterly basis in the first three months of 2025, the data found. This trend is potentially driven by tenants aiming to secure more favourable lease terms in a competitive environment and indicates a growing presence of higher-income demographics entering the market, according to the Betterhomes report. While multiple cheque payments remain a common practice, tenants with higher budgets tend to show greater flexibility in their payment terms, the research revealed. Renewal contracts continued to dominate rental activity, with 64 per cent of all leases in the first quarter being renewals, the highest proportion in the past year. This shows that tenants choose to remain under the protection of the rental price index as they see better value by staying put, rather than re-entering the market, the report said. Dubai Marina, Jumeirah Lakes Towers and Downtown Dubai were the top leasing communities for apartments, while family-friendly communities such as The Springs, Dubai Hills Estate and Tilal Al Ghaf were most popular for leasing townhouses, Betterhomes revealed. 'The strongest increase in demand was seen in the townhouse segment, pointing to increased interest in this housing type,' the report said. A growing number of long-term tenants are choosing to purchase property, driven by relatively lower mortgage payments compared to rental costs. 'In today's market, the gap between renting and owning has never been narrower. With mortgage rates stabilising and property values on the rise, buyers are seizing the opportunity to turn monthly payments into long-term equity. Ownership in Dubai is a strategic financial move,' said Jeffrey De Souza, head of mortgages at Lomond, a mortgage service provider. To put this into perspective, consider a two-bedroom property in The Springs, typically priced at around Dh3 million ($816,882). The annual range for such a property ranges between Dh150,000 and Dh200,000, according to the Real Estate Regulatory Agency's rental index calculator, the Betterhomes report explained. A 25-year mortgage on a Dh3 million property at an interest rate of 3.99 per cent would result in monthly payments of approximately Dh12,655, or Dh151,860 annually, highlighting the financial advantage of buying over renting, the report said. Dubai's property market has been benefiting from government initiatives such as residency permits for retired and remote workers, expansion of the 10-year golden visa programme and overall growth in the UAE's economy on diversification efforts. The city's real estate market recorded 42,422 sales transactions in the first quarter of 2025, a 23 per cent increase compared with the same period last year, according to the Dubai Land Department. However, transaction volumes declined by 10 per cent compared with the particularly active final quarter of 2024. The off-plan sector was a major contributor, accounting for 24,942 transactions, a 25 per cent increase annually, and representing 59 per cent of all deals. The overall value of real estate sales in Dubai recorded a 29 per cent year-on-year increase, touching Dh114 billion in the first quarter of this year, according to the DLD data. Apartment sales rose 14 per cent year-on-year to 32,237 transactions, with their total value up 12 per cent to Dh60.8 billion. Villa transactions jumped 65 per cent to 10,185, and value rose by 56 per cent to Dh53.4 billion. 'What's notable is the shift to more end-users and mortgage-backed buyers, indicating deeper confidence in Dubai as a place to live and invest long-term,' said Christopher Cina, director of sales at Betterhomes. While 7,848 units were handed over in the first quarter of 2025, a considerable volume of new properties is expected to be delivered in the coming years, according to data from Property Monitor. There is expected to be a notable peak in anticipated completions in 2026, with nearly 97,000 units forecasted. 'This substantial influx of new supply over the medium term will be a key factor to watch, alongside ongoing demand dynamics, as it may influence both property prices and rental rates,' the Betterhomes report said. Projected supply remains elevated through 2027 and 2028, before tapering off towards 2029, the report added.
Al Etihad
13-04-2025
- Health
- Al Etihad
UAE among best countries in quality of healthcare according to international rankings
13 Apr 2025 15:46 DUBAI (WAM)In 2025, the UAE continues to strengthen its global position in the healthcare sector, achieving top rankings and outstanding performance indicators. The country ranked first globally in the number of accredited healthcare facilities, thanks to a healthcare system based on the highest international standards and enhanced preparedness to handle pandemics and health risks — making the UAE one of the leading nations in healthcare country also achieved advanced positions in healthcare quality indicators, showing significant progress in areas such as basic healthcare outcomes, infrastructure, and preventive UAE's leading position in these rankings is attributed to its ongoing strategic investments in healthcare infrastructure. For the 2025 fiscal year, the UAE allocated Dh5.745 billion, equivalent to 8% of the federal budget, to healthcare and community prevention services, reflecting its sustained commitment to developing the health UAE is considered one of the world's top nations in healthcare, achieving high rankings across numerous international health indicators. It was ranked among the top 10 countries globally in 21 different health indicators, and secured 1st place regionally and 20th globally for healthcare UAE's leading status in these rankings is driven by a comprehensive national health strategy, significant investments in infrastructure, digital transformation in healthcare, and a strong focus on medical tourism. This reflects the nation's dedication to advancing healthcare services, meeting community needs, and enhancing its global Abdelghany, CEO of Fakeeh University Hospital, Dubai, stated that the hospital earned 5-Star Rating in Global Hospital Rating by Newsweek & Statista. This highlights the hospital's role in setting new standards in patient-centered care, clinical excellence, and medical innovation, placing it among the world's elite hospitals. Healthcare spending in the UAE is projected to reach approximately Dh151 billion by 2029, with a compound annual growth rate (CAGR) of 6.7%, driven by investments in infrastructure and services. A report by the Ministry of Economy anticipates that healthcare spending will reach $26 billion by 2028, while the UAE aims to invest Dh118 billion in the healthcare sector by 2027, focusing on infrastructure development and enhancing public-private partnerships.
Khaleej Times
18-02-2025
- Business
- Khaleej Times
Dubai's emerging off-plan hotspots lure buyers in droves
Dubai Marina remains a cynosure of luxury seekers, but more affordable options in nearby JVC are making it an attractive alternative for families and young professionals A combination of affordability, appreciation, easy payment options, and higher rental income potential continues to lure investors and first-time home buyers to emerging off-plan hotspots as Dubai's property market continues to thrive, according to market experts. Areas like Dubai Marina, Jumeirah Village Circle (JVC), and Dubai South are gaining traction, offering a blend of affordability and significant appreciation potential to captivate both local and international investors. Realty market experts said these neighbourhoods are not just appealing due to lower price points compared to more established areas like Downtown Dubai and Palm Jumeirah, but they also boast essential amenities, proximity to key transport links, and a lifestyle that attracts a diverse demographic. Dubai Marina remains a cynosure of luxury seekers, but more affordable options in nearby JVC are making it an attractive alternative for families and young professionals. Similarly, Dubai South, with its emphasis on sustainability and innovation, is capturing the attention of investors looking for long-term growth. With ongoing infrastructure developments and a commitment to becoming a global trade hub, these areas present lucrative opportunities for those keen on capitalsing on Dubai's thriving property market. In 2024, Dubai's real estate sector shattered records, achieving a remarkable Dh151 billion in total transactions — a 34 per cent increase from the previous year. This growth was largely fuelled by off-plan sales, which accounted for 60 per cent of all residential deals. Analysts predict that this momentum will carry into 2025, with property prices expected to rise by 5-8 per cent on average. Luxury hotspots such as Palm Jumeirah and Downtown Dubai may even see spikes of up to 10 per cent, reflecting strong demand and limited supply. Jumeirah Village Circle is currently the most active area of the market, with almost 12,000 existing and off-plan listings advertised across the market, according to the latest market analysis from eXp Dubai. More than one in 10 (11.3 per cent) of all homes currently listed across the market in Dubai are found within Jumeirah Village Circle, making it the most active segment of the Dubai real estate market at present. V. Sivaprasad, chairman of Condor Developers, said the market's momentum is expected to persist in 2025 on the back of strategic government policies, technological advancements, and an influx of foreign capital. 'The off-plan market, in particular, is becoming a vital engine for growth, offering developers and investors alike a wealth of opportunities. Areas like Dubai South and JVC not only offer competitive pricing but also promise long-term returns, making them attractive options for both investors and end-users alike,' V. Sivaprasad said. The resurgence of the off-plan segment is underpinned by attractive developer incentives and regulatory frameworks. Flexible payment plans, some requiring as little as 1.0 per cent upfront, have democratised access to real estate in Dubai. This accessibility is particularly beneficial for first-time buyers and those looking to escape rising rental costs. According to Anmoll D Shroff, founder and chairman of Elton Real Estate Development, these factors, coupled with high rental yields and capital appreciation potential, make Dubai's off-plan market an attractive proposition. 'Dubai's off-plan market will remain strong in 2025, driven by investor confidence, economic growth, and international demand.' Rohit Dubey, COO of Blanco Thornton Properties, highlights the bespoke luxury real estate segment as a focal point for significant changes. 'With flexible and affordable payment plans, Dubai is poised for a remarkable surge in both end-users and investors securing their dream properties,' he said. Emerging hotspots like Meydan, Dubai Islands, and Jebel Ali have already demonstrated strong capital gains this year, reflecting heightened interest and investment. Dubai South, often referred to as the 'next frontier,' offers apartments starting at Dh300,000, with rental yields averaging 6–8 per cent. MBR City, a hub for luxury villas and townhouses, recorded transactions worth Dh2.4 billion in 2024, driven by its proximity to Downtown Dubai. JVC has emerged as an affordable yet amenity-rich area, experiencing a 12 per cent surge in rental demand in 2024, with yields reaching 8.0 per cent. Dubai Creek Harbour, known for its waterfront properties, has appreciated by 15 per cent since 2023, bolstered by landmark developments like the Dubai Creek Tower.
