Latest news with #Engel&VölkersMiddleEast
Gulf Today
24-04-2025
- Business
- Gulf Today
Dubai's residential sales up 22.4%, commercial deals rise 18.2% in Q1
Staff Reporter, Gulf Today The Dubai property market is on a solid growth track and is marching ahead bucking the global trends. Engel & Völkers Middle East, a leader in premium residential and commercial real estate services, has released its Q1 2025 market reports, confirming another standout quarter for Dubai's real estate sector. Residential property sales increased by 22.4% year-on-year, with a 29.6% increase in the total value sold, driven by strong investor sentiment, rising population figures, and a steady flow of global capital into the emirate. Commercial real estate sales increased by18.2% YO, with a 29.5% increase in the total value of transactions. Despite the usual seasonal dip from Q4, Dubai's residential market delivered broad-based growth. Off-plan sales were up 23.9% and secondary transactions rose 20.3%, with continued demand across both ends of the price spectrum. Apartments remained the dominant property type, comprising 76% of all residential transactions. Jumeirah Village Circle retained its lead in both off-plan and resale apartment sales, supported by attractive pricing, strong rental yields, and proximity to major road networks. Secondary market momentum was also evident in Business Bay, Dubai Marina, and Downtown Dubai—key areas sought by investors and end-users alike for their connectivity, proximity to amenities and enduring rental demand. 'In the face of global economic uncertainty, Dubai's real estate market continues to show excellent fundamentals, with cross-sector growth and compelling returns for investors,' said Daniel Hadi, CEO of Engel & Völkers Middle East. 'Demand is being fuelled not just by regional wealth and migration, but by strategic policy, infrastructure investment, and the city's global positioning as a future-forward hub for living and business.' Recent infrastructure announcements—including the acceleration of the Etihad Rail project, the rollout of the Dubai Loop system, and strategic road upgrades in central business zones—are expected to further reinforce the city's competitive edge. The villa segment was a clear standout for growth, with transactions increasing by 80.6% year-on-year. The surge was primarily led by off-plan activity in emerging, master-planned communities such as The Valley, Emaar South, and Damac Islands. The total transaction value for villas rose by 55.1%, pointing to a growing preference for more affordable, family-oriented housing in newer developments on the fringes of Dubai. In the luxury and ultra-luxury segment, Dubai maintained its momentum. Sales above Dhs 10 million grew by 29% from Q1 2024, and are now up 185% from Q1 2022. Palm Jumeirah and the rapidly emerging Palm Jebel Ali accounted for 31% of sales over Dhs 10 million, supported by demand for ultra-luxury, waterfront villas. Noteworthy deals included the Dhs 425 million sale of the Marble Palace in Emirates Hills and an Dhs115 million villa in Palm Jumeirah's EOME community, brokered by Engel & Völkers Private Office Advisor Fadi Alsalem. Dubai continues to establish itself as the world's leading destination for high-net-worth individuals. According to Henley & Partners, the number of resident millionaires has grown by over 100% in the past decade, with the UAE attracting more HNWIs than any other country in 2023 and 2024. Today, Dubai is home to more than 81,000 millionaires, 237 centi-millionaires, and 20 billionaires - a figure that is set to rise as global wealth reallocates toward stable, high-performing destinations. Dubai's rental market also reflected sustained demand, with over 51,000 new residents added in the first quarter alone. While rent increases show signs of stabilising, luxury apartments in Bluewaters (+14.1%) and villas and townhouses in Dubai Hills Estate (+33.8%), and Arabian Ranches (+20.6%) registered significant year-on-year growth. The commercial real estate continued its upward trajectory, with office, retail, and mixed-use segments all posting gains. Office sales transactions increased by 40%, and the average price per sq. ft. rose 15% to Dhs 1,676. Business Bay and JLT remained leading hubs for Grade A office space, recording 315 and 217 sales respectively. Off-plan interest in Capital One helped position Motor City as a leading office investment destination in Q1. Retail sales, meanwhile, rose 6% year-on-year, with concentration in thriving residential and mixed-use communities such as Business Bay, Arjan, and JVC. Leasing activity also accelerated, with a 17.6% quarter-on-quarter increase across the commercial sector. Office rents grew by 23% year-on-year to Dhs 112 per sq. ft., led by demand in core business districts such as Business Bay, JLT, and Dubai Investments Park. While retail rents remained steady at Dhs 240 per sq. ft., increasing appetite for Grade A space suggests upward pressure on pricing may emerge in the latter half of the year. Major commercial projects announced in Q1 2025—such as the Dhs 5 billion redevelopment of Mall of the Emirates also signal strong confidence from Dubai's top developers in the long-term resilience of the city's retail and consumer sectors.
Khaleej Times
24-04-2025
- Business
- Khaleej Times
Dubai real estate residential sales up 22.4%, commercial deals rise 18.2% in Q1 2025
Dubai's residential property sales increased by 22.4 per cent year-on-year in the first quarter, with a 29.6 per cent increase in the total value sold, a report showed on Thursday. According to Engel & Völkers Middle East, a leader in premium residential and commercial real estate services, commercial real estate sales increased by18.2 per cent YO, with a 29.5 per cent increase in the total value of transactions. Despite the usual seasonal dip from Q4, Dubai's residential market delivered broad-based growth. Off-plan sales were up 23.9 per cent and secondary transactions rose 20.3 per cent, with continued demand across both ends of the price spectrum. Apartments remained the dominant property type, comprising 76 per cent of all residential transactions. Jumeirah Village Circle retained its lead in both off-plan and resale apartment sales, supported by attractive pricing, strong rental yields, and proximity to major road networks. Secondary market momentum was also evident in Business Bay, Dubai Marina, and Downtown Dubai — key areas sought by investors and end-users alike for their connectivity, proximity to amenities and enduring rental demand. The villa segment was a clear standout for growth, with transactions increasing by 80.6 per cent year-on-year. The surge was primarily led by off-plan activity in emerging, master-planned communities such as The Valley, Emaar South, and Damac Islands. The total transaction value for villas rose by 55.1 per cent, pointing to a growing preference for more affordable, family-oriented housing in newer developments on the fringes of Dubai. In the luxury and ultra-luxury segment, Dubai maintained its momentum. Sales above Dh10 million grew by 29 per cent from Q1 2024, and are now up 185 per cent from Q1 2022. Palm Jumeirah and the rapidly emerging Palm Jebel Ali accounted for 31 per cent of sales over Dh10 million, supported by demand for ultra-luxury, waterfront villas. Noteworthy deals included the Dh425 million sale of the Marble Palace in Emirates Hills and an Dh115 million villa in Palm Jumeirah's EOME community, brokered by Engel & Völkers Private Office Advisor Fadi Alsalem. Dubai continues to establish itself as the world's leading destination for high-net-worth individuals. According to Henley & Partners, the number of resident millionaires has grown by over 100 per cent in the past decade, with the UAE attracting more HNWIs than any other country in 2023 and 2024. Today, Dubai is home to more than 81,000 millionaires, 237 centi-millionaires, and 20 billionaires - a figure that is set to rise as global wealth reallocates toward stable, high-performing destinations. Dubai's rental market also reflected sustained demand, with over 51,000 new residents added in the first quarter alone. While rent increases show signs of stabilising, luxury apartments in Bluewaters (+14.1 per cent) and villas and townhouses in Dubai Hills Estate (+33.8 per cent), and Arabian Ranches (+20.6 per cent) registered significant year-on-year growth. Commercial property The commercial real estate continued its upward trajectory, with office, retail, and mixed-use segments all posting gains. Office sales transactions increased by 40 per cent, and the average price per sq. ft. rose 15 per cent to Dh1,676. Business Bay and JLT remained leading hubs for Grade A office space, recording 315 and 217 sales respectively. Off-plan interest in Capital One helped position Motor City as a leading office investment destination in Q1. Retail sales, meanwhile, rose 6 per cent year-on-year, with concentration in thriving residential and mixed-use communities such as Business Bay, Arjan, and JVC. Leasing activity also accelerated, with a 17.6 per cent quarter-on-quarter increase across the commercial sector. Office rents grew by 23 per cent year-on-year to Dh112 per sq. ft., led by demand in core business districts such as Business Bay, JLT, and Dubai Investments Park. While retail rents remained steady at Dh240 per sq. ft., increasing appetite for Grade A space suggests upward pressure on pricing may emerge in the latter half of the year. 'In the face of global economic uncertainty, Dubai's real estate market continues to show excellent fundamentals, with cross-sector growth and compelling returns for investors,' said Daniel Hadi, CEO of Engel & Völkers Middle East. 'Demand is being fuelled not just by regional wealth and migration, but by strategic policy, infrastructure investment, and the city's global positioning as a future-forward hub for living and business.' Recent infrastructure announcements — including the acceleration of the Etihad Rail project, the rollout of the Dubai Loop system, and strategic road upgrades in central business zones — are expected to further reinforce the city's competitive edge. Major commercial projects announced in Q1 2025 — such as the Dh5 billion redevelopment of Mall of the Emirates also signal strong confidence from Dubai's top developers in the long-term resilience of the city's retail and consumer sectors. As Dubai continues to attract global investors, business leaders, and new residents, Engel & Völkers remains optimistic about the outlook for the remainder of 2025. 'From prime residential to commercial real estate, Dubai is increasingly seen as a safe haven for capital and a high-performance market that rewards long-term vision,' Hadi added.
Zawya
24-04-2025
- Business
- Zawya
Dubai real estate residential sales up 22.4%, commercial deals rise 18.2% in Q1 2025, reports Engel & Völkers Middle East
Dubai, UAE - Engel & Völkers Middle East, a leader in premium residential and commercial real estate services, has released its Q1 2025 market reports, confirming another standout quarter for Dubai's real estate sector. Residential property sales increased by 22.4% year-on-year, with a 29.6% increase in the total value sold, driven by strong investor sentiment, rising population figures, and a steady flow of global capital into the emirate. Commercial real estate sales increased by18.2% YO, with a 29.5% increase in the total value of transactions. Despite the usual seasonal dip from Q4, Dubai's residential market delivered broad-based growth. Off-plan sales were up 23.9% and secondary transactions rose 20.3%, with continued demand across both ends of the price spectrum. Apartments remained the dominant property type, comprising 76% of all residential transactions. Jumeirah Village Circle retained its lead in both off-plan and resale apartment sales, supported by attractive pricing, strong rental yields, and proximity to major road networks. Secondary market momentum was also evident in Business Bay, Dubai Marina, and Downtown Dubai—key areas sought by investors and end-users alike for their connectivity, proximity to amenities and enduring rental demand. The villa segment was a clear standout for growth, with transactions increasing by 80.6% year-on-year. The surge was primarily led by off-plan activity in emerging, master-planned communities such as The Valley, Emaar South, and Damac Islands. The total transaction value for villas rose by 55.1%, pointing to a growing preference for more affordable, family-oriented housing in newer developments on the fringes of Dubai. In the luxury and ultra-luxury segment, Dubai maintained its momentum. Sales above AED 10 million grew by 29% from Q1 2024, and are now up 185% from Q1 2022. Palm Jumeirah and the rapidly emerging Palm Jebel Ali accounted for 31% of sales over AED 10 million, supported by demand for ultra-luxury, waterfront villas. Noteworthy deals included the AED 425 million sale of the Marble Palace in Emirates Hills and an AED 115 million villa in Palm Jumeirah's EOME community, brokered by Engel & Völkers Private Office Advisor Fadi Alsalem. Dubai continues to establish itself as the world's leading destination for high-net-worth individuals. According to Henley & Partners, the number of resident millionaires has grown by over 100% in the past decade, with the UAE attracting more HNWIs than any other country in 2023 and 2024. Today, Dubai is home to more than 81,000 millionaires, 237 centi-millionaires, and 20 billionaires - a figure that is set to rise as global wealth reallocates toward stable, high-performing destinations. Dubai's rental market also reflected sustained demand, with over 51,000 new residents added in the first quarter alone. While rent increases show signs of stabilising, luxury apartments in Bluewaters (+14.1%) and villas and townhouses in Dubai Hills Estate (+33.8%), and Arabian Ranches (+20.6%) registered significant year-on-year growth. The commercial real estate continued its upward trajectory, with office, retail, and mixed-use segments all posting gains. Office sales transactions increased by 40%, and the average price per sq. ft. rose 15% to AED 1,676. Business Bay and JLT remained leading hubs for Grade A office space, recording 315 and 217 sales respectively. Off-plan interest in Capital One helped position Motor City as a leading office investment destination in Q1. Retail sales, meanwhile, rose 6% year-on-year, with concentration in thriving residential and mixed-use communities such as Business Bay, Arjan, and JVC. Leasing activity also accelerated, with a 17.6% quarter-on-quarter increase across the commercial sector. Office rents grew by 23% year-on-year to AED 112 per sq. ft., led by demand in core business districts such as Business Bay, JLT, and Dubai Investments Park. While retail rents remained steady at AED 240 per sq. ft., increasing appetite for Grade A space suggests upward pressure on pricing may emerge in the latter half of the year. 'In the face of global economic uncertainty, Dubai's real estate market continues to show excellent fundamentals, with cross-sector growth and compelling returns for investors,' said Daniel Hadi, CEO of Engel & Völkers Middle East. 'Demand is being fuelled not just by regional wealth and migration, but by strategic policy, infrastructure investment, and the city's global positioning as a future-forward hub for living and business.' Recent infrastructure announcements including the acceleration of the Etihad Rail project, the rollout of the Dubai Loop system, and strategic road upgrades in central business zones—are expected to further reinforce the city's competitive edge. Major commercial projects announced in Q1 2025 such as the AED 5 billion redevelopment of Mall of the Emirates also signal strong confidence from Dubai's top developers in the long-term resilience of the city's retail and consumer sectors. As Dubai continues to attract global investors, business leaders, and new residents, Engel & Völkers remains optimistic about the outlook for the remainder of 2025. 'From prime residential to commercial real estate, Dubai is increasingly seen as a safe haven for capital and a high-performance market that rewards long-term vision,' Hadi added. 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 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.
Emirates 24/7
06-03-2025
- Business
- Emirates 24/7
KeyMavens Unveils Montage, Dubai's First Urban Residential Resort in Al Jaddaf
KeyMavens Real Estate Development, in collaboration with Engel & Völkers Middle East, has announced the launch of Montage, a new urban residential resort located in Al Jaddaf, Dubai. Designed to integrate contemporary architecture with wellness-focused living, the development aims to establish a new standard for urban residential projects in the city. Scheduled for completion in 2027, Montage will comprise one- and two-bedroom apartments featuring interiors crafted from travertine, wood, and backlit onyx. The design prioritizes both aesthetic refinement and functionality, catering to residents seeking an elevated living experience in a strategically positioned urban environment. Jason Kiszonak, CEO of KeyMavens, emphasized the project's commitment to quality and innovation, stating, 'Luxury extends beyond visual appeal; it is about creating long-term value and enhancing everyday living. Montage has been carefully designed to combine contemporary urban living with wellness-oriented amenities, ensuring a distinctive residential experience.' Amenities and Design Concept A central feature of Montage is Portola, a dedicated wellness and entertainment hub designed to provide residents with a range of recreational and health-focused facilities. Notable amenities include: Swimming Facilities: A multi-tiered pool system offering over 50 meters of swimming space, including a lagoon-style children's pool and swim-up seating. Wellness Center: Facilities include a snow room, Himalayan salt sauna, oxygen therapy room, cold plunge therapy, red-light therapy, and dedicated relaxation lounges. Fitness Center: A 3,000 sq. ft. gym equipped with advanced training facilities. Immersive Technology Spaces: A 900 sq. ft. virtual reality experience room featuring motion-based simulation technology. Location and Accessibility Situated in Al Jaddaf, Montage offers proximity to key business and lifestyle districts, including Downtown Dubai, Sheikh Zayed Road, and the future Etihad Rail station. The development is within walking distance of Al Jaddaf Metro Station, providing direct access to Dubai International Airport and other major urban centers. Engel & Völkers Appointed as Exclusive Sales Partner Engel & Völkers Middle East has been designated as the exclusive sales and marketing partner for Montage. With a presence spanning over four decades, the firm will leverage its expertise and global network to introduce the development to prospective buyers. Commenting on the collaboration, Daniel Hadi, CEO of Engel & Völkers Middle East, stated, 'Montage represents a forward-thinking approach to residential living in Dubai. Its emphasis on quality, design, and integrated wellness aligns with our vision for the future of urban developments. We look forward to facilitating engagement with buyers and investors seeking premium residential opportunities in the region.' The sales process is expected to commence in the coming months, with preliminary expressions of interest already being accepted. Follow Emirates 24|7 on Google News.
Zawya
30-01-2025
- Business
- Zawya
Dubai's real estate market poised for another record-breaking year in 2025
Dubai, UAE - Dubai's real estate market is set to maintain its upward trajectory in 2025, driven by sustained investor confidence, an expanding luxury segment, and unprecedented commercial demand, according to Engel & Völkers Middle East's latest report. With strong economic fundamentals, population growth, and strategic government initiatives, Dubai continues to reinforce its position as one of the world's most attractive real estate investment destinations. In 2024, total residential real estate transactions surged by 40.3% to 170,992 units, more than five times the number recorded in 2020, reflecting the city's growing appeal to both local and international buyers. The luxury sector remained a key driver of this growth, with sales of properties exceeding AED 10 million rising by 20.5% year-on-year, and Q4 narrowly surpassing the record-breaking performance of the same quarter in 2023. Off-plan transactions dominated the market, accounting for 63% of total sales, up from 54% in 2023, as investors sought high-potential opportunities amid a tightening secondary market. The apartment sector played a critical role in this expansion, with transactions increasing by 47.6%, contributing to 89.6% of the overall real estate market's growth. Popular investment hubs such as Jumeirah Village Circle, Business Bay, and Dubai Hills Estate led off-plan sales, while prime locations like Dubai Marina, Downtown Dubai, and Jumeirah Lakes Towers remained strongholds for ready-to-move properties. The consistent demand for high-quality developments continues to support price appreciation and solid rental yields, making Dubai an increasingly attractive destination for global investors. The commercial real estate sector delivered another strong performance in 2024, reflecting Dubai's growing prominence as a global business hub. With over 24,000 new businesses registered in the first half of 2024, demand for premium office spaces surged, pushing occupancy rates in DIFC, Downtown Dubai, and Business Bay to an exceptional 95-97%. This demand-supply imbalance led to double-digit rental growth, with office rents rising by 11%, retail rents by 9.7%, and warehouse prices surging by 21.1%, highlighting the continued strength of Dubai's commercial property market. Developers are responding to this demand, with Aldar Properties unveiling plans for a Grade A office tower on Sheikh Zayed Road, and further commercial launches expected in 2025. Daniel Hadi, CEO of Engel & Völkers Middle East commented: 'The combination of capital appreciation, high-rental yields and increasing foreign investment continues to solidify Dubai's position as a top-tier global property market. As one of the world's fastest growing real estate markets, we will continue to witness the emirate's ability to attract global capital, high net-worth individuals and multinational corporations. The growth we witnessed in 2024 provided a solid foundation to anticipate another record-breaking year in 2025.' Investor sentiment for 2025 remains highly optimistic, supported by new mega-developments such as Palm Jebel Ali and The Oasis, which cater to ultra-luxury buyers seeking exclusivity and long-term value. Additionally, Dubai's government-led initiatives, including visa reforms, free zone incentives, and a streamlined regulatory framework, continue to enhance the city's appeal to businesses and investors. The commercial sector is expected to see further expansion, particularly in high-demand districts such as DIFC, Business Bay, Jumeirah Lakes Towers, and Al Quoz, as companies seek Grade A office spaces and state-of-the-art industrial facilities. With Dubai entering 2025 with strong economic momentum, its real estate market remains a magnet for global investors seeking stability, high returns, and long-term growth potential. The combination of record-breaking sales, a thriving luxury segment, an expanding commercial sector, and a supportive regulatory environment positions Dubai for yet another year of exceptional performance. With continued infrastructure investments, mega-project launches, and sustained foreign interest, the emirate's real estate sector is well on track to surpass expectations, reinforcing its status as one of the most lucrative and resilient property markets worldwide.
