Latest news with #MRICS
ME Construction
20-03-2025
- Business
- ME Construction
Dubai property sales increase by 42% in 2024
Property Dubai property sales increase by 42% in 2024 By The report showed that the property market soared to record-breaking heights last year with 169,000 sales – an increase of 42% on 2023 Dubai's residential property sector has 243,000 units in the pipeline from now until the end of 2027, with apartments accounting for 80% of future inventory, according to Cavendish Maxwell's 2024 Dubai Residential Market Performance report. The booming off-plan sector continued to dominate the market, with sales four times up on pre-Covid levels. Almost 145,000 new off-plan units came to the market during the year – an average of 400 per day, the report showed. The report said that the property market soared to record-breaking heights last year with 169,000 sales – an increase of 42% on 2023. Prices saw sustained increases during the year, ending 0.9% up month-on-month in December, and 3.1% higher than the previous quarter. Year-on-year, prices rose 16.5%, representing an increase of more than 90% on the April 2009 low. In fact, Dubai's residential property sector closed 2024 with 47 months of continuous price rises. However, as anticipated by Cavendish Maxwell, the rate of appreciation is starting to slow, with monthly growth now hovering around 1%, compared to previous month-on-month increases of up to 2.5%. Mortgage activity also soared in 2024, hitting an all-time high of 36,600 loans, up almost a third on 2023. Ronan Arthur, MRICS, Partner and Head of Residential Valuation, Cavendish Maxwell said, 'These impressive figures are not just the result of the recovery from the pandemic. They reflect a strong, stable property market that has seen consistent growth since 2022, driven by continued international demand from India, China and other Middle Eastern countries in particular.' 'While Dubai's residential market remains extremely robust, with further growth expected in 2025, there are now signs of an adjustment to more sustainable levels. As with previous market cycles, the emirate's regulators, developers and investors are taking the right steps to avoid runaway growth which, as we have seen before, could threaten market stability,' he added. Emaar Properties, Binghatti Properties and DAMAC Properties led the new launch market in terms of both units released and sales value. In 2024, under construction projects represented 68% of the total residential market.
Trade Arabia
10-02-2025
- Business
- Trade Arabia
Cavendish Maxwell boosts Oman, UAE leadership team
Leading real estate advisory group and property consultant, Cavendish Maxwell, has strengthened its leadership team in the UAE and Oman in line with its continued growth strategy and increased regional focus. In Dubai, Ronan Arthur, MRICS, has been appointed as Partner, Head of Residential Valuation; Jessica Price as Partner, Commercial Valuation; Kieran Burley as Partner, Head of Investment and Commercial Agency; and Joe John as Finance Director. Meanwhile, Tamas Steinfield, MRICS, becomes Partner, Commercial Valuation at Cavendish Maxwell's Muscat office. Led by Arthur and Shah, Cavendish Maxwell's Valuations Team is one of the largest, most qualified and most respected in the UAE, empanelled with 50 leading banks, said the company in a statement. Burley has transformed the firm's commercial agency since joining the company last year, establishing a strong team with regional expertise to support key projects including Dubai Expo City; and Joe John has been central to further strengthening the company's support services. In Oman, a key growth market for Cavendish Maxwell, Tamas Steinfield has enhanced the valuations business by fostering new partnerships and building trust among stakeholders, it stated. Welcoming them into the fold, Group Chief Operating Officer Jessica Taylor said: "These appointments are a testament to the unwavering commitment and top talent among our team, and underscore the pivotal role they play in the continued growth and success of our company – and in the region's real estate sector." "With almost 90 years' experience between them, Ronan, Jessica, Kieran, Joe and Tamas bring unrivalled insight and knowhow to our business. Their expertise is key to Cavendish Maxwell's 2025 growth, which includes moving into new markets such as KSA and launching new service lines throughout the GCC," she stated.
Zawya
10-02-2025
- Business
- Zawya
Cavendish Maxwell strengthens leadership team, names new Partners in UAE and Oman
Dubai – Leading real estate advisory group and property consultant, Cavendish Maxwell, has strengthened its leadership team in the UAE and Oman in line with its continued growth strategy and increased regional focus. In Dubai, Ronan Arthur, MRICS, has been appointed as Partner, Head of Residential Valuation; Jessica Price as Partner, Commercial Valuation; Kieran Burley as Partner, Head of Investment and Commercial Agency; and Joe John as Finance Director. Meanwhile, Tamas Steinfield, MRICS, becomes Partner, Commercial Valuation at Cavendish Maxwell's Muscat office. Jessica Taylor, Group Chief Operating Officer, Cavendish Maxwell, said: 'These appointments are a testament to the unwavering commitment and top talent among our team, and underscore the pivotal role they play in the continued growth and success of our company – and in the region's real estate sector. With almost 90 years' experience between them, Ronan, Jessica, Kieran, Joe and Tamas bring unrivalled insight and knowhow to our business. Their expertise is key to Cavendish Maxwell's 2025 growth, which includes moving into new markets such as KSA and launching new service lines throughout the GCC. We are proud to recognise their loyalty, skill and dedication as we enter this new and exciting phase in our expansion.' Led by Ronan Arthur and Vidhi Shah, Cavendish Maxwell's Valuations Team is one of the largest, most qualified and most respected in the UAE, empanelled with 50 leading banks. Kieran Burley has transformed Cavendish Maxwell's Commercial Agency since joining the company last year, establishing a strong team with regional expertise to support key projects including Dubai Expo City; and Joe John has been central to further strengthening the company's support services. In Oman, a key growth market for Cavendish Maxwell, Tamas Steinfield has enhanced the valuations business by fostering new partnerships and building trust among stakeholders. About Cavendish Maxwell Cavendish Maxwell is one of the Middle East's leading real estate advisory groups and property consultants, with offices in Dubai, Abu Dhabi, Sharjah, Ajman, Kuwait City and Muscat. The company is regulated by the Royal Institution of Chartered Surveyors (RICS) and offers a full range of property-related services, including valuation, strategy and consulting, research, project management and building consultancy, investment and commercial agency expertise. With a team of experienced professionals and a commitment to delivering exceptional service, Cavendish Maxwell has established itself as a trusted advisor in the regional real estate market. For media enquiries, please contact: Rebecca Rees at rebecca@
