Latest news with #Dh2
Al Etihad
2 days ago
- Business
- Al Etihad
Abu Dhabi office market surges as economic growth boosts business confidence
31 July 2025 00:53 MAYS IBRAHIM (ABU DHABI)Abu Dhabi's office market continued its upward trajectory in Q2 2025, as demand for Grade A spaces outpaced supply, according to Savills' latest market report released on research ties this growth to the UAE's capital's sustained economic momentum, particularly in the non-oil sector which expanded by 6.1% year- on-year in Q1 2025, now accounting for over 56% of the emirate's total GDP.'This positive economic trajectory is boosting business confidence, fuelling strong leasing activity, and increasing demand for high-quality office space,' the report Dhabi Global Market (ADGM), one of the most desired locations due to its free zone status, experienced a 30% year-on-year rise in rental values, now ranging from Dh2,800 to Dh3,500 per square metre per Q1 2025, ADGM completed its jurisdictional expansion to Al Reem Island, adding approximately 500,000 sq.m of office to the report, ADMG saw the total number of operational firms reach 2,781 - a 43% increase compared to Q1 2024. Notably, financial services entities alone grew by 26% year on year, totalling report said this expansion has heightened occupier activity in both Al Reem and Al Maryah islands. The workforce on Al Maryah Island, for example, has increased by 17% year on year, now exceeding 29,000.'Demand in H1 2025 was largely driven by banking, financial services, and insurance (BFSI) institutions, hedge funds, consulting firms, and technology companies,' the report stated.'This growth is fuelled by both new market entrants and expansion of existing players, with a notable increase in requirements for units between 10,000 and 20,000 square feet (930 and 1,860 sq.m).'Prime districts such as Capital Centre, Masdar City, and Al Maryah Island continue to witness strong demand due to their high-quality construction, accessibility, and well-developed infrastructure and B properties in areas like Corniche and Downtown Abu Dhabi are seeing increased interest as tenants seek alternatives amid limited availability, according to the help meet the growing demand, over 100,000 sq.m of office space is slated for completion in 2025. Projects such as Masdar City Square and Yas Place have already achieved healthy pre-commitment Q2 2025, the completion of SAAS Business Tower on Reem Island added over 12,000 sq.m of Grade A office space to the report also pointed out that 100,000 sq.m of space from developments such as One Maryah Place and Saadiyat Business Park are scheduled for completion by ahead, Savills anticipates that Abu Dhabi will continue to attract high-net-worth individuals, family offices, and corporates, underpinned by its robust business environment, transparent regulatory framework, and sustained investment from sovereign wealth funds. 'The city's improving infrastructure and quality of life further enhance its attractiveness. With strong pre-commitment levels reported by leading developers such as Aldar and Mubadala, the outlook for the office sector is poised for sustained expansion,' the report stated. Source: Aletihad - Abu Dhabi
Khaleej Times
3 days ago
- Business
- Khaleej Times
Off-plan apartment transactions in Dubai surged 43% in second quarter
Second quarter off-plan apartment transactions in Dubai surged 43 per cent quarter-on-quarter, contributing significantly to a total sales value of Dh60.15 billion, a 37 per cent increase year-on-year, data showed on Tuesday. According to Betterhomes' Shaping Skylines, Dubai Residential Real Estate Q2 2025, the off-plan segment accounted for the majority of Dubai's residential market activity, underpinned by strategic launches from top-tier developers and investor-friendly payment plans. Among the top-performing communities for off-plan apartments in Q2 2025 were Jumeirah Village Circle (JVC), which led with 12.2 per cent of total off-plan transactions, followed by Business Bay at 6.4 per cent, Dubai Residence Complex at 5.3 per cent, while Motor City and Production City each contributed 5 per cent. Two-bedroom apartments were the highest contributors to off-plan transaction value making up 33 per cent, with one-bedroom apartments at 30 per cent and studios at 10 per cent. The average price per square foot for off-plan transactions stood at Dh2,023. 'The off-plan market continues to be one of Dubai's biggest growth stories. Buyers are showing greater discernment, focusing on quality, developer reputation, and long-term rental yield potential. We're seeing high absorption of newly launched projects, especially in well-connected, master-planned communities,' said Christopher Cina, Director of Sales at Betterhomes. Off-plan market trends and buyer preferences In the off-plan segment, The Valley accounted for the largest share of transactions at 29.7 per cent, followed by Emaar South with 15.5 per cent, Athlon by Aldar at 8 per cent, and MBR City at 7.3 per cent. The total off-plan transaction value for villas and townhouses stood at Dh7.94 billion, with townhouses driving 75 per cent of this value and villas contributing the remaining 25 per cent. This trend reflects a preference among buyers for townhouses in new developments, although the broader end-user market continues to favour ready-to-move-in properties for permanent residence. In terms of unit size, four-bedroom homes accounted for 49 per cent of the total off-plan transaction value, followed by three-bedroom units at 23 per cent and fivebedroom units at 12 per cent. The average price per square foot was Dh1,318 for townhouses and Dh1,947 for villas. Overall, Dubai's real estate market maintained its momentum in Q2, with transactions up 25 per cent year-on-year and total value rising 46 per cent. Apartments and off-plan led activity, while the luxury segment hit record highs. Even during June's regional unrest, the market remained resilient; reinforcing Dubai's position as a safe, stable destination for capital and lifestyle buyers alike. This strong quarterly performance builds on a robust first quarter, which recorded quarter-on-quarter growth of 33 per cent in value and 19 per cent in volume. The sustained momentum highlights growing investor confidence and the continued appeal of Dubai's property sector. Secondary market activity In the secondary apartment market, JVC again emerged as the top performer, accounting for 11.2 per cent of transactions, followed by Business Bay at 7.5 per cent, Dubai Marina at 5.8 per cent, with Mohammed Bin Rashid (MBR) City and Downtown Dubai each holding a 5 per cent share. Two-bedroom apartments were again the largest contributor to transaction value, representing 36 per cent, with one-bedroom apartments at 28 per cent and studios at 8 per cent. The average price per square foot for secondary apartments was Dh1,600. This data highlights the ongoing strength and demand across Dubai s apartment market, with JVC and Business Bay remaining key focal points for both off-plan and secondary transactions. The growth in transaction value, particularly for two-bedroom apartments, indicates strong investor confidence and a stable market outlook moving into the second half of 2025. 'As we move into Q3, the fundamentals remain strong. Population growth is steady, infrastructure continues to expand, and while more supply is coming online, demand is still outpacing it in most areas. We expect to see more negotiation, more realistic pricing, and a little more competition, which, frankly, is no bad thing,' Louis Harding, CEO of Betterhomes, said. 'With approximately 20,000 new units delivered in the first half of 2025 and a further 70,000 expected by year-end, Q3 is shaping up to be an exciting phase for Dubai's property market. This upcoming supply is well-aligned with the city's growing population and strong investor appetite. Demand remains robust particularly for apartments and ready villas with healthy absorption of new launches. Both Q3 and the second half of 2025 are expected to reflect positive market sentiment, supported by a resilient economy, sustained end-user demand, and attractive rental yields,' Cina said.
Al Etihad
4 days ago
- Business
- Al Etihad
Abu Dhabi Ports Group signs 50-year land lease agreement at Khalifa Port with Emirates Food Industries Group
28 July 2025 12:59 ABU DHABI (ALETIHAD)Abu Dhabi Ports Group (ADX: ADPORTS), a global enabler of integrated trade, transport and logistics solutions, has signed a 50-year land lease agreement with Emirates Food Industries, a member of the National Holding strategic collaboration will initially see the development of state-of-the-art silos at Khalifa Port's South Quay, further enhancing the port's capabilities, reinforcing its position as a premier logistics and trade hub in the region, and strengthening the country's food security by increasing storage capacity for strategic food stages of the project also anticipate the related launch of an advanced grain processing plant, ultimately seeing a fully integrated industrial complex featuring cutting-edge facilities for processing and storing various types of grains, valued at Dh2 Al Mazrouei, Chief Executive Officer, Ports Cluster-AD Ports Group, commented on the agreement: 'This 50-year agreement with Emirates Food Industries Group marks a significant step in our ongoing commitment to support the UAE's food security ambitions. By providing access to our advanced infrastructure and integrated logistics solutions, we are creating a robust platform that will enhance the efficiency and resilience of the nation's food supply chain.'Joseph Abdo, Chief Executive Officer, Emirates Food Industries Group said: 'This project represents a transformative step in significantly enhancing and advancing our industrial and operational capabilities in the food sector. Our long-term collaboration with AD Ports Group is a strategic imperative, which will contribute directly to the UAE's food security objectives. The access to Khalifa Port's world-class facilities will enable us to optimise our supply chain, expand our storage capacity, and ensure a consistent flow of essential food products to meet the growing regional demand.'The initiative aims to establish a modern and sustainable complex, with advanced capabilities for grain storage and processing supported by the latest state-of-the-art industrial and operational collaboration highlights the commitment of both parties to align with the UAE's resilient vision to ensure strategic grain reserves and sustainable national food supply chains. With a robust and stable infrastructure, the complex will enable agile responses to shifting market demands and supply chain dynamics. The 100,000 square-metre facility is planned to have a storage capacity of approximately 150,000 metric tons. The leased plot is strategically located within Khalifa Port, to provide direct access to deep-water berths which can accommodate full load panamax. Source: Aletihad - Abu Dhabi
Al Etihad
23-07-2025
- Business
- Al Etihad
ADIB reports Dh4 billion pre-tax profit in H1 2025
23 July 2025 17:42 ABU DHABI (WAM)Abu Dhabi Islamic Bank (ADIB) today announced a 16 percent year-on-year increase in pre-tax net profit for the first half of 2025, reaching Dh4 billion, reflecting strong balance sheet growth, continued business momentum, and a rising customer bank delivered another record performance in Q2 2025, with pre-tax net profit up 14 percent year-on-year to Dh2 profit after tax for the first half reached Dh3.5 billion, up 15 percent versus H1 2024. For the second quarter, net profit reached Dh1.8 billion, an increase of 13 percent compared to the same period last income for H1 2025 rose 11 percent to Dh5.9 billion, up from Dh5.3 billion in H1 robust growth was driven by strong performance across all core business segments, supported by diversified income streams and continued expansion of fee-based from funding grew 9 percent year-on-year to Dh3.6 billion in H1 2025, compared to Dh3.3 billion in the previous year, backed by increased business volumes and the bank's ability to generate sustainable returns despite lower market profit profit margin stood at 4.27 percent, within the bank's target range, reflecting volume growth and effective balance sheet income rose 15 percent year-on-year to Dh2.3 billion in H1 2025, up from Dh2 billion in the prior-year growth in non-funding income was largely driven by a 28 percent increase in fee income, attributed to higher product sales across both retail and corporate segments, reflecting stronger customer activity and successful cross-selling income now contributes 39 percent of total operating income, underscoring the bank's continued strategic focus on income cost-to-income ratio improved to 28.2 percent in H1 2025, down 40 basis points from 28.6 percent in H1 2024, driven by higher revenue and ongoing productivity measures. Operating expenses rose 9 percent year-on-year to Dh1.7 billion in H1 2025, reflecting continued investment in talent, digital initiatives and emerging technologies.
Al Etihad
23-07-2025
- Business
- Al Etihad
Abu Dhabi Islamic Bank reports Dh4 billion pre-tax profit in H1 2025
23 July 2025 17:46 ABU DHABI (WAM)Abu Dhabi Islamic Bank (ADIB) Wednesday announced a 16 percent year-on-year increase in pre-tax net profit for the first half of 2025, reaching Dh4 billion, reflecting strong balance sheet growth, continued business momentum, and a rising customer bank delivered another record performance in Q2 2025, with pre-tax net profit up 14 percent year-on-year to Dh2 profit after tax for the first half reached Dh3.5 billion, up 15 percent versus H1 2024. For the second quarter, net profit reached Dh1.8 billion, an increase of 13 percent compared to the same period last income for H1 2025 rose 11 percent to Dh5.9 billion, up from Dh5.3 billion in H1 robust growth was driven by strong performance across all core business segments, supported by diversified income streams and continued expansion of fee-based from funding grew 9 percent year-on-year to Dh3.6 billion in H1 2025, compared to Dh3.3 billion in the previous year, backed by increased business volumes and the bank's ability to generate sustainable returns despite lower market profit profit margin stood at 4.27 percent, within the bank's target range, reflecting volume growth and effective balance sheet income rose 15 percent year-on-year to Dh2.3 billion in H1 2025, up from Dh2 billion in the prior-year growth in non-funding income was largely driven by a 28 percent increase in fee income, attributed to higher product sales across both retail and corporate segments, reflecting stronger customer activity and successful cross-selling income now contributes 39 percent of total operating income, underscoring the bank's continued strategic focus on income cost-to-income ratio improved to 28.2 percent in H1 2025, down 40 basis points from 28.6 percent in H1 2024, driven by higher revenue and ongoing productivity measures. Operating expenses rose 9 percent year-on-year to Dh1.7 billion in H1 2025, reflecting continued investment in talent, digital initiatives and emerging technologies.
