Latest news with #FibhaAhmed
Khaleej Times
20-05-2025
- Business
- Khaleej Times
UAE: Rents on Al Marjan Island increase by 60% in 2 years as demand soars
Rental prices on Al Marjan Island in Ras Al Khaimah have seen a dramatic surge over the past two years, with the median annual rent climbing from Dh40,000 in April 2023 to Dh64,800 in April 2025 a rise of 62 per cent in just two years, according to data from Property Finder. The most recent figures show a 12 per cent year-on-year increase between April 2024 and April 2025, following a steep 45 per cent jump the previous year. The sharp rise in rental prices is largely concentrated in apartments and duplexes, which dominate the market on Al Marjan Island, making up 97 per cent of all residential rental listings. Currently, the median rental price per square foot on Al Marjan Island stands at Dh 81, with listings typically ranging between Dh50 and Dh120 per sq ft. The median size of a rental property is 773 sq ft. Compared to other sought-after residential areas in Ras Al Khaimah such as Al Hamra Village and Mina Al Arab rents on Al Marjan Island are approximately 20 per cent higher. This premium is driven by the island's growing appeal as a waterfront destination and its proximity to high-profile developments, including the upcoming Wynn Al Marjan, the first integrated resort in the Middle East. Fibha Ahmed, Vice President of Property Sales at Bayut & dubizzle, highlighted the Marjan island's apartment sector as a key driver of the upward momentum. 'We've seen solid growth across the board, but it's the apartment segment in Al Marjan Island that really stands out,' she said. 'Rents jumped by 42 per cent year-on-year from Q1 2023 to Q1 2024, and then climbed another 13 per cent by Q1 2025.' This sharp trajectory underlines the growing appeal of the waterfront destination not just for tenants in search of upscale, well-connected homes, but also for investors eyeing compact units with strong rental yields. According to Fibha, user engagement backs the numbers. 'Our data at Bayut shows Al Marjan Island consistently attracts around 25 per cent of all apartment rental views in Ras Al Khaimah, despite being a smaller community in size. That's a significant concentration of demand, driven by both media attention and actual user interest.' Ankur Aggarwal, Chairman and Founder of BNW Developments stated that 'Based on current momentum and upcoming high-impact developments, BNW Developments anticipates rental prices in Al Marjan Island to increase by approximately 10–15 per cent over the next 12–24 months. This growth will likely be driven by continued demand from international tenants, rising tourism, and the relatively limited availability of premium inventory. As projects like the Wynn Resort near completion and tourism-linked infrastructure scales up, we expect further tightening in supply, pushing rents steadily upward. The island is on course to become one of the UAE's most dynamic investment destinations, with robust returns for both short-term and long-term asset holders.'
Gulf Business
21-02-2025
- Business
- Gulf Business
Missed the latest Gulf Business real estate panel? Watch it all here
The Gulf Business Business Breakfast Briefing: Real Estate Edition, held on 20 February 2025 at The Westin Mina Seyahi in Dubai, brought together top industry leaders, investors, and stakeholders to discuss the evolving UAE real estate market. Under the theme 'Breaking Ground: The UAE Real Estate Outlook,' the event provided valuable insights into the future of the property sector across Dubai, Abu Dhabi, Sharjah, and Ras Al Khaimah. The briefing featured three dynamic panel discussions, keynotes from industry leaders, and the prestigious Game Changers Awards. Attendees explored critical market trends, policy shifts, and emerging opportunities shaping the UAE's property landscape. Attendees of Gulf Business' February 20 panel gathering before proceedings kicked off. Gulf Business would like to thank its partners who made this special event possible: Alef Group, IRTH Group, ANAX Developments, Century Financial, GROHE, and Samana Developers. You can view all the photos of the event by clicking to view this If you missed the event, you can catch up on all the action by watching the videos posted below. Panel 1: Will Dubai's Property Boom Continue? Dubai's real estate sector has experienced an unprecedented boom, driven by strong foreign investment, regulatory reforms, and luxury developments. But with global economic uncertainties, fluctuating interest rates, and increasing supply, is the growth sustainable? This panel, moderated by Taimur Khan, Head of Research MEA at JLL , examined key factors influencing Dubai's real estate trajectory over the next five to ten years. Discussions covered the sustainability of the boom, the impact of golden visas on demand, and whether the surge in off-plan sales signals healthy growth or an overheating market. Speakers: Fibha Ahmed, Vice President of Property Sales, Bayut Ravi Bhirani, MD, Anax Developments Stefan Schmied, Leader IMEA, LIXIL International Dounia Fadi, Managing Director, eXP Dubai Panel 2: The New Growth Hubs – Ras Al Khaimah, Abu Dhabi & Sharjah While Dubai remains the UAE's real estate leader, other emirates are stepping up as investment destinations. Ras Al Khaimah's Al Marjan Island, Abu Dhabi's government-backed mega-projects, and Sharjah's focus on sustainable luxury housing are reshaping the landscape. Moderated by Gareth van Zyl, Group Editor, Gulf Business , the discussion compared these emerging hubs, exploring investment potential, ROI, and government incentives. Speakers: Issa Ataya, CEO, Alef Group Andrew Thomson, Partner, Head of Real Estate, Hotels & Leisure, Al Tamimi & Company Fouad Bekkar, CEO, Coralytics Panel 3: UAE's Property Market 2025 – The Next Big Moves As the UAE real estate sector matures, increased transparency, homeownership trends, and regulatory shifts are shaping its next phase of growth. The expansion of freehold areas, the evolution of RERA's regulatory role, and improved data access are transforming the market. Moderated by Anand Menon, CEO, LION EDGE Consultancy , this panel explored the future of homeownership, investment hotspots, and the balance between supply and demand. Speakers: Daniel Hadi, CEO Middle East, Engel & Völkers Louis Harding, CEO, Better Homes UAE Osman Celiker, Managing Director, IRTH Group Imran Farooq, CEO of Samana Developers Game Changers Awards & Full Event Recap The event concluded with the Game Changers Awards , recognising individuals and organisations shaping the future of UAE real estate. Winners were honoured for their contributions to innovation, sustainability, and market growth. For those who missed the live event, you can also watch the full event recording here: Stay tuned for more Gulf Business industry briefings, offering unparalleled access to expert insights and networking opportunities.
