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Al Etihad
26-05-2025
- Business
- Al Etihad
Abu Dhabi apartment rents saw 10% YoY rise in Q1 2025: Asteco report
26 May 2025 08:15 A. SREENIVASA REDDY (ABU DHABI)Abu Dhabi's real estate market sustained its upward momentum in the first quarter of 2025, with average apartment rents climbing 10% year-on-year (YoY) and 4% quarter-on-quarter (QoQ), according to the latest market report from real estate consultancy report noted particularly robust growth in the high-end rental segment, where rates increased between 8% and 12%. The mid-tier market also recorded solid gains, with rents rising between 5% and 8%. 'This widespread positive performance, characterised by increasing rents and high occupancy, underscores the fundamental strength and consistency of demand within Abu Dhabi's residential sector,' Asteco said in the the rise in rentals, some low-end apartments remain relatively affordable on Abu Dhabi Island. In areas like Al Khalidiyah and Al Bateen, studio apartments are available for Dh25,000 to Dh35,000 annually, while one-bedroom units range from Dh28,000 to Dh45, Central Abu Dhabi and the Corniche, studios are priced between Dh30,000 and Dh35,000 per year, and one-bedroom apartments can be rented for Dh40,000 to Dh50,000 the healthy rental gains, supply continues to come online at a steady pace. In Q1 2025 alone, approximately 1,200 new residential units were delivered across developments including Jubail Island, Bloom Living – Cordoba Phase 1, Al Jurf Gardens in Ghantoot, Al Raha Beach and Rawdhat Abu Dhabi. The total number of new residential handovers for 2025 is expected to reach 5,500 units, concentrated in key investment zones such as Yas Island, Masdar City, Saadiyat Island and Al Reem to Asteco data sheet, 700 new apartment units and 500 villa units were completed in Abu Dhabi during the first quarter of 2025. This follows the completion of 2,850 apartments and 2,750 villas in 2024. By the end of 2025, total completions are projected to reach 4,000 apartments and 1,500 villas, reflecting a continued expansion in residential supply across the office sector is also gearing up for fresh supply, with the Quartz Tower on Yas Island set to be delivered in Q2, and other major projects like Shams Tower, The Link, and City Square in the pipeline for late 2025 into terms of sales, the market saw 8,700 residential transactions between March 2024 and March 2025. These included 4,100 off-plan deals and 4,600 sales of completed units, which comprised 3,250 apartments and 1,350 villas and townhouses. Notably, transactions for completed properties grew by 6% QoQ and surged 42% YoY reflecting strong demand from both investors and prices also showed a healthy upward trajectory. Apartment prices rose 4% on QoQ and 7% YoY, with high-demand areas seeing annual gains of over 15%. Villa prices increased by 4% QoQ and 8% YoY, with premium locations such as Saadiyat Island registering annual gains exceeding 15%.Asteco observed that 'well-located villas within prime communities continue to outperform the market average', underscoring the premium that buyers place on quality and launches performed strongly, with high absorption rates within weeks of release. 'This reflects sustained buyer confidence in the long-term value and appeal of new developments,' the report noted. Going forward, Asteco said that the Abu Dhabi real estate market remains 'well positioned for continued positive performance in the near to medium term'. Although new supply may moderate the pace of growth in rentals and values, overall market momentum is expected to remain intact, with further upside potential for both capital and rental values.
Al Etihad
11-05-2025
- Business
- Al Etihad
RTA completes Al Shindagha Corridor Development Project in Dubai, inaugurates fifth and final bridge
11 May 2025 12:12 DUBAI (ALETIHAD)The Roads and Transport Authority (RTA) has inaugurated the fifth and final bridge as part of the Sheikh Rashid Road and Al Mina Street intersection development project. With this milestone, the RTA has completed all phases of Al Shindagha Corridor Development Project in Bur Dubai, ensuring uninterrupted traffic flow from Al Garhoud Bridge towards Port Rashid, via Infinity Bridge, and onward to the Waterfront Market, and vice completed phases have reduced travel time along the corridor from 80 minutes to just 12 corridor serves Deira and Bur Dubai, as well as several major development projects, including Dubai Islands, Dubai Waterfront, Dubai Maritime City, and Port total population served by the project is estimated at one corridor's development facilitates free-flowing traffic along the entire route, increasing capacity from 6,400 vehicles per hour to 24,000 vehicles per will also reduce travel time from 104 minutes to just 16 minutes by 2030, while enhancing road safety. The projected economic benefit from reduced travel time is valued at Dh45 billion over 20 years. The RTA has also recently inaugurated the final bridge within the Sheikh Rashid Road and Al Mina Street intersection development project. The project comprised the construction of five bridges, with a total length of 3.1 kilometres, and a combined traffic capacity of approximately 19,400 vehicles per hour across all lanes.
What's On
22-04-2025
- Automotive
- What's On
This new bridge in Dubai will reduce travel time by 67 per cent
RTA has inaugurated a new bridge that could ease Dubai traffic flow… A new bridge was inaugurated by the RTA this past week and will reportedly cut down travel time by 67 per cent. The bridge, connecting Jumeirah Street to Al Mina Street in the direction of the Infinity Bridge, is the latest opening in a series of extensions being added to the road network of Dubai in a bid to combat perhaps the most pressing problem of now – traffic and congestion. The bridge spans 985 metres and features two lanes that can accommodate up to 3,200 vehicles per hour. This new diversion will significantly reduce traffic and congestion in the area, and cut down travel times, from 12 minutes to 4 minutes for motorists traveling from Jumeirah Street towards Infinity Bridge via Al Mina Street. View this post on Instagram A post shared by DubaiMediaOffice (@dubaimediaoffice) This bridge is part of Phase 4 of a larger project of the construction of five bridges totalling 3.1 km, with a combined capacity of 19,400 vehicles per hour across all lanes. The second quarter of 2025 is expected to see the completion of another 780-metre, three-lane bridge connecting Infinity Bridge to Al Wasl Street via Al Mina Street. You might also like Dubai set to build the one of the world's thinnest residential towers The Al Shindagha Corridor Improvement Project is split into 5 phases. Several roadworks have already been completed, with RTA having completed 90 per cent of Phase 4 of the project, This phase also includes the Al Khaleej Street Tunnel Project. Phase 5 is yet to be announced The corridor extends 4.8 kilometres from the intersection of Sheikh Rashid Road and Sheikh Khalifa bin Zayed Street to the Falcon Intersection on Al Mina Street. The aim of the project is to improve connectivity between Deira and Bur Dubai while also connecting upcoming major developments, including Dubai Islands, Deira Waterfront, Dubai Maritime City, and Port Rashid. Once completed, the corridor will benefit about one million residents, according to the RTA, and significantly reducing travel time from 104 minutes to just 16 minutes by 2030. The project is designed to enhance road safety standards while delivering an estimated Dh45 billion in economic benefits over the next 20 years. @rta_dubai Images: RTA
Khaleej Times
13-04-2025
- Business
- Khaleej Times
Dubai hotel occupancy rate rises to 77.7% in 2024
The occupancy rate at Dubai's hotel rose to 77.7 per cent from 77.1 per cent over the past year, recent data showed. According to KPMG's latest Hospitality Report, the Average Daily Rate (ADR) increased from Dh654.4 to Dh666. KPMG's survey showed that 94 per cent of tourists in Dubai were satisfied with their hotel stay over the past year compared to 92 per cent in the previous year, and 80 per cent were likely to book a stay at a hotel in the city, reflecting strong demand in the sector. Government initiatives, including the Dubai Economic Agenda D33, are positioning Dubai as a top three global tourism destination by 2033. A key development in inbound tourism is the extended tourist visa for Indian nationals, which has influenced travel decisions, with 70 per cent of respondents saying they are more likely to visit the UAE due to this policy change. While luxury hotels have always been a significant part of the UAE's hospitality landscape, KPMG's research points to a growing demand for unique experiences and personalized services that allow guests to immerse themselves in the local culture. Hotels are offering curated experiences, such as desert safaris, cultural tours, and traditional dining experiences featuring local cuisine and showcasing Emirati hospitality to meet this demand. The report also underscores the changing traveller profile to the city, as visitors seek eco-conscious, boutique experiences with a local flavour. 'Dubai hotels and resorts are adding eco-friendly services and wellness-focused amenities to their offerings, with restaurants incorporating local and organic produce into their menus, supporting sustainable agriculture, and reducing their carbon footprint,' the KPMG report said. Last week, data from the UAE Ministry of Economy showed that revenue generated by UAE hotels rose to Dh45 billion in 2024, representing a three per cent gain year on year. Sixteen hotels opened over the course of the year, with the number of hotel rooms rising three per cent to reach 216,966 at the end of 2024. The number of hotel guests rose 9.5 per cent year on year to 30.8 million in 2024. 'This milestone represents 77 per cent of the hotel guest target set by the 'National Tourism Strategy 2031' - achieved seven years ahead of schedule. With the current growth trajectory, we are well on track to achieving the strategy's ambitious goal of attracting 40 million hotel guests,' said Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the Emirates Tourism Council. Sidharth Mehta, Partner, Head of Real Estate and Construction at KPMG Lower Gulf, said: 'Dubai is continuously re-inventing itself for the global traveler. The UAE's Leadership has significantly invested in tourism infrastructure, including developing world-class airports, hotels, resorts, theme parks, and entertainment complexes. This has laid a solid foundation for Dubai's hospitality sector. We are witnessing a shift toward more responsible, experience-driven travel, where guests seek deeper cultural connections and sustainability-driven stays.' KPMG's report also reinforces how technological advancements have increasingly become vital for the hospitality industry, especially as 88 per cent of survey respondents cite modern technology as an important factor in their hotel experience. Artificial Intelligence, augmented reality, and data analytics are allowing hotels to personalise services, streamline operations, and anticipate guest needs. Dubai hotels are increasingly adopting digital solutions for bookings and check-ins, concierge services, and loyalty programs to create seamless and intuitive experiences. Looking ahead, Dubai's hospitality industry is witnessing a surge, driven by favorable economic conditions, government initiatives, and a robust real estate sector in both luxury and affordable housing. 'However, the sector will need to prioritize innovation, sustainability, and unique experiences to maintain its global competitiveness,' the KPMG report said.
Al Etihad
13-04-2025
- Business
- Al Etihad
UAE offers promising opportunities for tourism investment
13 Apr 2025 11:39 ABU DHABI (WAM) The UAE continues to strengthen its position as a leading destination for tourism investment, supported by an attractive investment environment, advanced infrastructure, and policies that foster sectoral UAE's tourism sector is witnessing a surge in investment opportunities across all areas — from infrastructure development to hotels, resorts, entertainment projects, and sustainable tourism initiatives aligned with the country's green economy entities continue to play a pivotal role by launching strategic initiatives to enhance tourist destinations, support innovation, and collaborate with the private sector to uphold the highest standards of quality and its National Tourism Strategy 2031, the UAE aims to rank among the world's top tourist destinations. The strategy seeks to increase the tourism sector's contribution to the GDP to Dh450 billion, attract Dh100 billion in new investments, and welcome 40 million hotel guests annually by year, the UAE recorded strong growth and significant achievements in tourism. Hotel revenues reached nearly Dh45 billion, marking a 3% increase compared to 2023. Hotel occupancy rose to 78%, one of the highest rates both regionally and UAE ranked first in the Middle East and North Africa and 18th globally in the Travel & Tourism Development Index (TTDI) 2024 issued by the World Economic to global consultancy Arthur D. Little, the UAE has gone beyond building luxury hotels, successfully integrating hospitality with rich cultural and entertainment officials and tourism experts affirmed that the sector still holds vast untapped potential. They emphasise that major projects — within tourism and across other sectors — are set to further stimulate tourism growth and boost the attractiveness of investment in the Al Rais, Honorary Chairman of Dubai Travel and Tour Agents Group (DTTAG), and Executive Director of Al Rais Travel and Shipping Agencies (Al Rais Group), stated that the UAE has witnessed numerous pioneering and exceptional projects in the tourism sector in recent years. He also emphasised that the UAE continues to strengthen its status as a premier global investment and tourism destination through major projects across its emirates — a testament to investor confidence in the sector's long-term sustainable growth Abdelhadi, CEO of Carlton Hotel and Suites UAE, emphasised that the strong momentum in the country's tourism sector reflects a clear leadership vision aimed at solidifying the UAE's position as a fully integrated global tourism and investment destination. He also noted that the ongoing expansion of tourism and hospitality infrastructure projects is boosting investor confidence and opening new avenues for growth.
