Latest news with #TheRings
Zawya
01-04-2025
- Business
- Zawya
Dubai property market sees February sales hit US $13.9bln
Dubai's real estate market has continued its strong start to 2025, with property sales in February totalling US $13.9bn, a 39.91% increase in value on the same month last year, according to a market update by fäm Properties. The report reveals that last month's total of 16,099 transactions also represented a 35.5% increase in volume over February 2024, making it one of the best ever months on record. Data from DXBinteract shows that villa sales totalling $5.1bn climbed by 99.7% to 3,679 compared with February last year, while plot sales worth $2.6bn also soared in volume by 74.7% to 608. Apartment sales worth $5.8bn climbed 21.3% in volume to 11,364, while a total of 447 commercial property transactions amounting to $327mn represented a 40.1% increase in volume over February 2024. The average price per sqft was up by 3.4% to $423, the report said. 'The data once again highlights the robust nature of Dubai's real estate market and the steady growth it has experienced over the past few years,' said Firas Al Msaddi, CEO of fäm Properties. 'This reinforces Dubai's position as a safe and reliable hub for real estate investment, further boosting investor trust and attracting attention from local, regional, and global markets.' Dubai property sales for the month of February have now risen by 449% in value over the last five years – from $2.53bn (4,100 transactions) in 2020, $1.99bn (3,700) in 2021, $4.19bn (6,200) in 2022, $7.38bn (9,400) in 2023, and $9.94bn (11,900) last year. The most expensive individual property sold in February was a luxury villa at Hadaeq Sheikh Mohammed Bin Rashid which fetched $38.1mn. The most expensive apartment sold during the month went for $31.5mn at The Rings – 1 at Jumeirah Second. Overall, first sales from developers were significantly greater than those of resales – 66% over 34% in terms of volume, and 62% against 38% in overall value. With properties worth more than $1.36mn accounting for 9% of total sales, 31% came in the $272,200 – 544,400 range, 25% below $272,200, 19% between $544,400 – 816,600 and 15% between $816,600 – 1.36mn.
Mid East Info
04-03-2025
- Business
- Mid East Info
Dubai property market enjoys bumper month as February sales hit AED51.1 billion - Middle East Business News and Information
Villa sales soar by 99% as 16,099 overall transactions solidify city's status as top destination for property investment. Dubai, UAE, 4th March, 2025: Dubai's real estate market has continued its strong start to 2025, with property sales in February totalling AED 51.1 billion, a 39.91% increase in value on the same month last year. A market update issued today by fäm Properties reveals that last month's total of 16,099 transactions also represented a 35.5% increase in volume over February 2024, making it one of the best ever months on record. Data from DXBinteract shows that villa sales totalling AED18.8 billion climbed dramatically by 99.7% to 3,679 compared with February last year, while plot sales worth AED9.6 billion also soared in volume by 74.7% to 608. Apartment sales worth AED21.4 billion climbed 21.3% in volume to 11,364, while a total of 447 commercial property transactions amounting to AED1.2 billion represented a 40.1% increase in volume over February 2024. The average price per sq. ft was up by 3.4% to AED 1,551. 'The data once again highlights the robust nature of Dubai's real estate market and the steady growth it has experienced over the past few years,' said Firas Al Msaddi, CEO of fäm Properties. 'This reinforces Dubai's position as a safe and reliable hub for real estate investment, further boosting investor trust and attracting attention from local, regional, and global markets.' Dubai property sales for the month of February have now risen by 449% in value over the last five years – from AED9.3 billion (4,100 transactions) in 2020, AED7.3 billion (3,700) in 2021, AED15.4 billion (6,200) in 2022, AED27.1 billion (9,400) in 2023 and AED36.5 billion (11,900) last year. The most expensive individual property sold in February was a luxury villa at Hadaeq Sheikh Mohammed Bin Rashid which fetched AED140 million. The most expensive apartment sold during the month went for AED116 million at The Rings – 1 at Jumeirah Second. Overall, first sales from developers were significantly greater than those of resales – 66% over 34% in terms of volume, and 62% against 38% in overall value. With properties worth more than AED5 million accounting for 9% of total sales, 31% came in the AED1-2 million range, 25% below AED1 million, 19% between AED2-3 million and 15% between AED3-5 million. FEBRUARY 2025 – Top five performing areas in terms of overall sales volume Wadi Al Safa 5 1,297 units Jumeirah Village Circle 1,246 Dubai Marina 915 Business Bay 878 Dubai South 819 BEST-SELLING PROJECTS Off-plan apartments Units Value AED Franck Muller Vanguard 250 436.9m Golf Dale 162 297.4m Saria 139 395.2m Golf Acres 134 243.9m Skyscape 131 321.2m Off-plan villas La Tilia At Villanova Phase 2 205 678.7m La Tilia At Villanova Phase 1 195 647.2m Reportage Village 1 175 226m The Valley – Kaia 106 318.1m Nad Al Sheba Gardens Phase 7 90 455.1m Ready apartments Lakeside 51 19.7m P23 45 14.9m Falcon Tower 40 111.4m KhK 24 35 17.8m Sky Courts 33 20.7m Ready villas Nad Al Sheba Gardens Phase 7 63 889.5m Reem – Mira Oasis Community 16 46.1m Reem – Mira Oasis Community 3 11 35.7m Greenview 2 10 27.6m Reem – Mira Oasis Community 2 9 26m Ends
Khaleej Times
18-02-2025
- Business
- Khaleej Times
DLD records Dh116 million ($32 million) sky mansion transaction at The Rings by PMR
Designed by Foster + Partners, The Rings exemplifies world-class architecture and meticulous craftsmanship DLD Records AED 116 Million ($32 Million) Sky Mansion Transaction at The Rings by PMR Dubai's ultra-luxury real estate sector continues to flourish as PMR Property officially registers the sale of an exclusive sky mansion at The Rings in the Dubai Land Department System (DLD). The Project, situated along the Dubai Water Canal next to Mr. C Residences and Four Seasons Private Residences, saw its latest unit transaction sold for AED 116 million ($32 million), further solidifying Dubai's status as a premier destination for high-end living. Unparalleled Luxury and Exclusivity Comprising only 12 bespoke residences, The Rings offers an exceptional standard of privacy and sophistication. Each unit features a private swimming pool, private gym, private air-conditioned garage, private elevator, private landscaped garden and private cinema. Designed with an 8-meter double-height living area, the residences provide panoramic 180-degree views of the Burj Khalifa, Burj Al Arab, the Arabian Gulf Sea, and the Dubai Water Canal. Architectural Excellence & Artistic Innovation Designed by Foster + Partners, The Rings exemplifies world-class architecture and meticulous craftsmanship. Additionally, acclaimed Emirati artist Mattar Bin Lahej, known for his work at the Museum of the Future, has contributed his signature calligraphic artistry, enhancing the project's aesthetic appeal. The residences feature high-end Italian finishes, including Antonio Lupi bathrooms, Poliform kitchens and wardrobes and Gaggenau appliances, exclusively sourced through Obeji Home, ensuring an unparalleled living experience. Since its establishment, PMR Property has been at the forefront of Dubai's ultra-luxury real estate market, consistently setting new benchmarks in elegance, exclusivity and innovation.
Emirates 24/7
06-02-2025
- Business
- Emirates 24/7
AED 116 Million Off-Plan Apartment Sold in Dubai
According to data from the Dubai Land Department, the apartment is located in Jumeirah 2 within "The Rings" project and spans 17,136.15 square feet, translating to a price of AED 6,769 per square foot. Early trading activity in the real estate sector saw total sales reaching approximately AED 1.4 billion from 534 transactions. Source: Albayan Newspaper Follow Emirates 24|7 on Google News.
