Latest news with #JumeirahVillageCircle
Arabian Business
17 hours ago
- Business
- Arabian Business
Dubai residential real estate hit $14.8bn in May; analyst reveals Q2 forecast
Dubai's residential real estate market demonstrated resilient capital performance in May 2025, recording AED54.4bn ($14.8bn) in transactions; a 39.08 per cent increase year-on-year. A total of 17,475 transactions were registered, reflecting both depth and consistency across off-plan and ready segments. This activity was underpinned by structured developer launches, accessible mortgage rates, and sustained inflows of foreign capital. Dubai real estate Off-plan sales represented 60.2 per cent of total market volume, driven by investor confidence in phased masterplans, payment flexibility, and community-led offerings. The secondary market accounted for 39.8 per cent of transactions, led by end-user activity in villa-led zones and branded residential stock. Pricing remained broadly stable across key family-oriented districts, including Dubai Hills Estate, Business Bay, and Jumeirah Village Circle. Farooq Syed, CEO of Springfield Properties, said: 'The data reflects a market moving in sync with structural demand. Developers are not chasing volume; they're curating value. Buyer decisions are increasingly grounded in long-term asset performance, product integrity, and urban positioning. That alignment is what continues to set Dubai apart.' Jumeirah Village Circle led transactional volume with 1,800 deals at an average price point of AED1.07m ($291,000), highlighting the sustained appetite for mid-market liveability. Meanwhile, Palm Jumeirah and Downtown Dubai continued to anchor high-value activity, with average sales exceeding AED5m ($1.4m) across branded and waterfront stock. Favourable financing conditions remained a key pillar of buyer activity, with sub-4 per cent fixed mortgage offerings available across major lenders. Currency movements further supported international transactions, with buyers from Europe, India, and Russia capitalising on improved AED affordability amid FX fluctuations. Dubai's population reached approximately 3.95m in May, reinforcing leasing and ownership demand across both villa and apartment segments. High-absorption areas included Palm Jumeirah and Jumeirah Islands, where average villa rentals exceeded AED1.2m ($327,000). Branded apartments in Business Bay and Dubai Creek Harbour maintained strong yield performance and stable occupancy. Syed said: 'We're seeing strong absorption in thoughtfully released inventory, with developers pacing launches in line with population growth, financing cycles, and real end-user priorities'. As Q2 progresses, Dubai's residential market continues to show consistency in transaction volume and pricing across both off-plan and completed inventory. Developer activity remains disciplined, with launches paced to match buyer demand and capital absorption. Supported by financing stability and population growth, the market outlook remains steady across key segments.
The National
20-05-2025
- Business
- The National
Dubai's mid-market residential communities experience strong surge in demand
Dubai's emerging mid-market communities are experiencing an increase in demand for residential property as 1,000 residents a day move to the emirate. Property Finder recorded 750,000 searches for sales and rentals a month for Jumeirah Village Circle in April, a 3 per cent increase year-on-year, with the top five searched-for buildings including Binghatti Corner, Belgravia and Bloom Towers. Key search terms for this area included 'brand new', '12 cheques' and 'ready to move', with most-desired amenities such as a balcony, a maid's room, pool, gym and central air-conditioning. Al Furjan was searched for half as much, but its growth was strongest among any area listed on Property Finder's database, with an increase of 23.4 per cent yearly. Popular towers included Murooj Al Furjan, Avenue Residences, North Village and Azizi Residences, with the accessibility of the Metro and pet-friendly accommodation factors in users' search criteria. This surge in demand has led to increased rental and sales prices. In Al Furjan, apartment sale prices increased by 15.4 per cent year-on-year in the first quarter of 2025, according to Property Monitor, while townhouses and villas were up 30.3 per cent and 42.5 per cent, respectively. This reflects rising confidence in the community's long-term potential, Daniel Hadi, chief executive of Engel & Volkers Middle East, told The National. JVC retained its lead in off-plan and resale apartment sales, according to the company's first-quarter 2025 market report, supported by attractive pricing, strong rental yields and proximity to major road networks. 'Similar communities such as JVC, Arjan, Silicon Oasis and Town Square also outperformed the Dubai average price growth of around 16 per cent over the last 12 months, with apartment prices rising between 21 per cent and 25 per cent,' Mr Hadi added. 'These areas are increasingly popular with first-time buyers, investors and young families seeking well-connected, amenity-rich neighbourhoods at more accessible price points.' This all comes as residential property sales across Dubai increased by 22.4 per cent year-on-year, with a 29 per cent increase in the total value sold, according to Engel & Volkers. Dubai Land Department data also revealed Dh62.1 billion ($16.9 billion) was made in total sales in April − the highest monthly total for the emirate. This is a 94 per cent year-on-year surge and a 54 per cent rise in transaction volume, according to Property Finder. 'Dubai's real estate market continues to scale new heights, propelled by bold city planning, regulatory innovation and investor trust,' said Cherif Sleiman, chief revenue officer at Property Finder. 'The sustained growth across both primary and secondary segments is resounding proof of its resilience and long-term appeal.' 'It's no surprise residents are making the switch to property ownership,' Kundan Choudhary, founder of Prime Estates, told The National. 'Especially with Al Furjan offering great value for villas and JVC/JVT standing out for affordable apartment options. With prices starting from under Dh1 million for a decent home, we have seen over a 30 per cent increase in demand for these areas compared to last year.' Mr Hadi said they expect these communities to remain in demand as new infrastructure and amenities continue to be added. 'However, price growth may moderate as more off-plan supply begins to hand over in the coming quarters.' One such project includes Tasmeer Indigo Properties' SquareX Residence, with 170 residential units being constructed in the heart of JVC. About 90 per cent of these spaces sold within three months of receiving the building permit, said company chairman Aman Kassim. Demand has been especially strong from young professionals – millennials and Gen Z end users, he added. Life coach Anne Jackson bought her JVC villa off-plan in 2006 with little idea of how the community would grow. 'Back then, the plan announced by master developer Nakheel in 2004 sounded idyllic: a central park with a radial design, office spaces, villa clusters, apartment complexes, schools, supermarkets and even a European-style tram,' she told The National. 'But the global credit crisis in 2008 dramatically slowed progress. Developers withdrew, projects stalled and by the time I moved in – 18 months behind schedule – in 2010, the vision had not yet materialised.' Over the past 15 years, she's watched the neighbourhood flourish, however. 'I had lived in Dubai since January 2000 and had already seen how neighbourhoods could be transformed from barren desert to thriving communities. I knew JVC would grow. There was something uniquely charming about watching that evolution unfold around me.' She said the transformation has been 'remarkable' and she firmly believes JVC is the 'best place to live'. 'When we moved in, my children were four and seven. Now they're 22 and 19 and JVC is still 'home' when they return from university. They've had the stability of growing up in the same house, attending the same school, and forming lifelong friendships. That's a gift not every city can offer in such a fast-changing world.' Long-term Dubai resident Sara Loch, who recently bought a three-bedroom townhouse in Al Furjan, said one of their main deciding factors on location was the potential for property appreciation. 'It doesn't beat some of the older areas like The Lakes, but we felt it was a good investment for our budget,' she said. 'The size of land you get in this area is much better value that most others areas in Dubai.' Tatiana Tonu, chief executive of developer Object 1, said Al Furjan is establishing itself as a trusted investment hub, driven by high demand and long-term growth potential. 'Its strategic location between two major highways, metro access and proximity to commercial hubs have boosted its appeal, with rental transactions rising 8 per cent and one-bedroom rental values surging 39 per cent, delivering yields of up to 9 per cent,' she said. Meanwhile, JVC remains Dubai's most actively traded off-plan residential cluster with strong value and competitive rents, she added. Rents in other affordable villa communities such as Dubailand, Meydan and International City are also soaring between 39 per cent and 46 per cent year on year. 'Mixed-use projects, which integrate residential, retail and recreational elements, are witnessing heightened demand as buyers increasingly value walkable, lifestyle-centric environments,' said Ms Tonu. While these areas are popular in terms of volume, the appeal of wealthier locales such as Palm Jumeirah, Jumeirah and DIFC also shows no signs of slowing down. 'Off-plans in Dubai have never been more varied or exciting, with something for every budget,' said luxury property adviser Laaleen Sukhera of Liv Squared. She said now is the time to invest. 'Expect rapid transformation citywide for Dubai 2040 including master communities in the vicinity of Al Maktoum Airport … We're also seeing a boost in global interest in light of Trump's tariff effect, with more interest from US investors.' For anyone seeking strong returns, Ms Tonu advised investors look at properties in Downtown Dubai, Dubai Marina and JVC, which she said 'continue to be standout options in a thriving market'.
Emirates 24/7
19-05-2025
- Business
- Emirates 24/7
IKR Development launches Provenza Residences in JVC; appoints Golden Bridge as official sales partner
The new residential development presents a unique investment opportunity, featuring premium amenities in one of Dubai's most sought-after locations. IKR Development is an emerging real estate developer in Dubai, committed to crafting contemporary residential projects. IKR has partnered with Golden Bridge, UAE's leading sales and marketing partner, to launch a new masterpiece, Provenza Residences. The project was officially announced at the IKR Sales Center. Golden Bridge has been entrusted as the exclusive marketing and sales representative for this prestigious development. Strategically located in the heart of Jumeirah Village Circle - Provenza Residences is set to unlock promising potential for capital growth, especially for early investors seeking strong returns in one of the region's most dynamic communities. The development promises residents a perfectly balanced lifestyle with exceptional accessibility to major highways and upcoming metro links with a peaceful, community focused ambiance of the location. Designed by a renowned French architect, Provenza Residences embodies architectural innovation and refined elegance. The building's striking exterior offers a harmonious blend of serene sophistication and visual charm, becoming an architectural icon. While the interiors showcase meticulous attention to details, featuring premium finishes – creating a sense of calm and elevated living. Offering an elegantly crafted studio, 1-bedroom, and 2-bedroom apartments – each thoughtfully designed to elevate living experience. Studio starting from AED 650,000, 1-bedroom apartments from AED 950,000, and 2-bedroom apartment from AED 1.55 million. The residence is thoughtfully equipped with fully fitted kitchens and integrated smart home features, delivering a seamless blend of style and functionality. Residents of Provenza Residences by IKR Development will experience an unmatched lifestyle enriched by over 14 world-class amenities, thoughtfully curated to enhance daily living. Podium-level amenities include a yoga terrace, fitness studio, and leisure pool, while the rooftop offers exceptional family-oriented spaces such as indoor and outdoor kids' play areas, a rooftop cinema and lounge, and a BBQ area. From its timeless urban comfort to its focus on quality of life, Provenza Residences stands as a testament to modern living with convenience, serenity, and community at its core. The project also offers attractive payment options, including a Standard 60/40 plan or a Post–Handover plan of 60% during Construction, 10% on Handover, and 30% Post-Handover, providing flexibility to suit a variety of buyers and investors. The unveiling of Provenza Residences by IKR development was graced by several distinguished guests, agents, and brokers. Speaking at the launch, Mr. Asnan Rehmatwala, Director of IKR Development, said: "Provenza Residences represents our vision of creating communities that blend architectural excellence with everyday practicality. We are proud to unveil this project in partnership with Golden Bridge, bringing a new level of design sophistication and lifestyle convenience to Jumeirah Village Circle. Provenza is a statement of quality, comfort, and modern living designed for Dubai's evolving homeowners and investors." Mr. Amil Tabani, CEO of Golden Bridge, commented: "We are proud to collaborate with IKR Development in bringing Provenza Residences to the market. Provenza Residences offers a rare opportunity for buyers and investors to be part of one of Dubai's most vibrant and fast-growing communities. We look forward to supporting IKR Development in making this project a new benchmark for urban living in Dubai." With Provenza Residences, IKR Development, and Golden Bridge continue to set new benchmarks in Dubai's real estate market. This new development is set to become a top choice for buyers and investors looking for comfort, convenience, and great value in one of the most exciting neighborhoods. To get more details about the project, contact our sales team at Golden Bridge: Call: 800-BRIDGE (274343) Website: Follow Emirates 24|7 on Google News.
Arabian Business
14-05-2025
- Business
- Arabian Business
Dubai real estate: Peak Summit Development launches Phase 3 of The Orchard Place in JVC
Peak Summit Development has launched Phase 3 of The Orchard Place, a residential community in Dubai's Jumeirah Village Circle (JVC). The development spans five plots in the centre of JVC and aims to provide residents with luxury, comfort, and convenience. The Orchard Place features green spaces, recreational facilities, and proximity to key amenities, making it suitable for families and individuals. Dubai developer launches residences with private pools in JVC Phase 3 introduces private pools in one- and two-bedroom apartments, which Peak Summit Development describes as a rarity in the city's property market. Penthouses in the development include terraces with private pools and city views, while interiors feature European-inspired designs. The location offers connections to Dubai landmarks, including Palm Jumeirah, Dubai Marina, and Downtown Dubai, while situated within JVC's green environment. Phase 1 has sold out completely, and Phase 2 construction is ahead of schedule. The structural completion of Tower A represents a milestone for the project. 'With Phase 3 of The Orchard Place, we aren't building square metres, but living spaces and communities. This project embodies our commitment to pushing the boundaries of luxury living in Dubai, delivering exceptional value to our residents and contributing to the city's vision of sustainable and sophisticated urban development,' Sergi Voronovych, CEO of Peak Summit Development said. The Orchard Place joins other Peak Summit Development projects, including The Place Collection, which consists of beachfront villas on Palm Jumeirah, and the forthcoming Meydan Horizon Branded Residency.
Mid East Info
13-05-2025
- Business
- Mid East Info
Robust transaction activity powers Dubai's residential market in Q1 2025 - Middle East Business News and Information
Property transaction volumes rose 23% y-o-y, dominated by apartments Dubai's residential market started the year on a strong note, amid sustained demand by a growing population and heightened investor interest. According to the Savills Q1 2025 Dubai Residential Market in Minutes report, the first quarter of the year recorded a robust 23% y-o-y increase in transaction volumes, underscoring the emirate's ability to hit a sweet spot between investment potential and quality of life. Rachael Kennerley, Director – Research says, 'In Q1 2025, off-plan sales continued as the cornerstone of transaction activity, representing 69% of all deals. The residential market witnessed robust supply, with more than 30,000 units launched during the quarter, most of which were apartments. This figure is more than double the volume recorded in the same period last year, as developers capitalised on strong market demand.' The ready market — comprising transactions in completed and handed-over projects – made up the remaining 31% of transactions. Apartment sales accounted for the majority of transactions at 81% in this segment, reflecting its dominance in Dubai's housing stock. Looking at the market overall, apartments dominated sales activity, accounting for 76% of all transactions. However, the villa and townhouse segment witnessed a notable resurgence, with transactions rising from 18% in the previous quarter to 24% in Q1 2025. Prominent micro-markets located along the Al Khail corridor, including Jumeirah Village Circle (JVC), Dubailand, Damac Hills 2, The Valley, and Damac Lagoons, accounted for 55% of total transaction volumes and 56% of all newly launched residential units – land saturation and limited affordability in the city's core residential locations have pushed development toward peripheral areas. Dubai's prime residential market continues to perform well, underpinned by Dubai's sustained appeal for HNWIs. Demand was driven by the strong quality of life proposition, a low tax environment, easy business set up costs and the strength of the Golden Visa programme. Over 1,300 units were transacted at values exceeding the AED 10 million mark in Q1 2025 — marking a 31% y-o-y increase. Contrary to the wider market, villas dominated prime transactions with 73% of market share, recording a 52% y-o-y rise and a 4% q-o-q uptick. According to Andrew Cummings, Head of Residential Agency , 'Demand across the prime residential segment in Dubai has not simply sustained but strengthened. Amid tariff wars, geopolitical uncertainties and unpredictable tax environments, the world's wealthy increasingly recognise Dubai's appeal, and developers are rising to the occasion. Villas in coveted locations, space and privacy are the preferred choice but supply remains restricted for the time being.' Looking ahead, the outlook for Dubai's residential sector remains optimistic. Savills anticipates that amid global macroeconomic and political uncertainties, the emirate's political stability, competitive regulatory landscape, and business friendly ecosystem are expected to support ongoing population and investment inflows. The development pipeline is however significant and necessitates a balanced approach to supply and demand.
