Latest news with #real estate market
Khaleej Times
4 days ago
- Business
- Khaleej Times
DMDC announces Abu Dhabi expansion with luxury project at Four Seasons Residences
DMDC, a leading name in construction and interior design, recently announced its official expansion into Abu Dhabi, a move that signifies both strategic growth and a commitment to innovation across the Emirates. This new chapter begins with an exclusive luxury renovation project at Four Seasons Residences, a property that reflects the firm's design ethos and attention to detail. Having operated exclusively in Dubai for over four years, DMDC has built a robust reputation for delivering visually striking and highly functional spaces that redefine modern living. The expansion to Abu Dhabi comes at a moment when the city's real estate market is flourishing, driven by an increasing appetite for bespoke luxury and intelligent design solutions. DMDC sees this market growth as the perfect opportunity to bring its expertise to a broader client base and elevate the standard of living spaces in the capital. The inaugural Abu Dhabi project, set in the coveted Four Seasons Residences, will showcase DMDC's signature blend of sophistication and smart spatial planning. This marks the first in a strong pipeline of projects in the emirate, reflecting the company's confidence and long-term commitment to the region. 'This expansion is the right next step for us at DMDC, especially as the company has quadrupled in size since its inception,' said Raji Daou, CEO of DMDC. 'We look forward to bringing our expertise to the capital of the UAE – one that exemplifies vision, innovation, and opportunity.' DMDC's move to Abu Dhabi comes on the back of the recent launch of DMDC Estates, the company's property investment arm. Already active across Dubai's most desirable communities, DMDC Estates is set to play a pivotal role in the company's expansion, offering a diversified portfolio of premium developments and reinforcing DMDC's commitment to excellence. From concept to completion, DMDC continues to set the benchmark for luxury construction and interior design.
Yahoo
06-08-2025
- Business
- Yahoo
Millionaires Wanted–How Italy's New Tax Policy Is Turbocharging Its Real Estate Market
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. High-net-worth individuals all around the world searching for a simplified tax code have found what they're looking for in Italy. The country quietly introduced a flat tax in 2017. The super-rich have been flocking there ever since, and they're turbocharging Italy's real estate market. The U.S., the U.K., and most of the world's largest economic powers have a progressive tax code. Under this system, tax bills for individual citizens are based on their earnings. The more the citizen earns, the higher their tax bill will be. Progressive tax codes can be unpopular with high-net-worth individuals for that alone. But they are also notoriously complicated. Don't Miss: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — $100k+ in investable assets? – no cost, no obligation. Italy's flat tax system is incredibly simple by comparison. No matter how much a high-net-worth individual earns beyond Italian borders, their Italian tax bill would be capped at €200,000 ($231,679) plus €25,000 for each additional family member. That's not the only provision of the Italian tax code that appeals to high-net-worth individuals. Italy's system allows taxpayers to apply directly to its tax authorities for clarity on tax issues before they relocate. That means there won't be any surprises in the form of fines for improper filings or incorrectly reporting income. Italy's plan is proving to be a big hit with the private jet set. According to Forbes, Italy has attracted 3,600 high-net-worth individuals to the country since adopting its flat tax system, and the impact is being felt most prominently in the real estate market. Trending: Accredited Investors: Grab Pre-IPO Shares of the AI Company Powering Hasbro, Sephora & MGM— Forbes also reports that premium real estate in Milan's best neighborhoods is selling for €15,000 per square meter. Newly built apartments with energy-efficient features are fetching €7,250 per square meter. Many of them sell out before developers can complete all the new units. Regions in Southern Italy like Campania, Sicily, and Puglia are also proving to be very popular with well-heeled expats. Once they arrive in Italy, the new arrivals find plenty of reasons to stay. The country possesses a unique combination of scenic beauty, rich history, and a culinary heritage that's famous all over the world. There is an abundance of idyllic locations to suit any taste. Areas like Lake Como, the Amalfi Coast, and the Tuscan hill country have long been vacation destinations for the super-rich. The flat-tax program is convincing many of them to consider making Italy their permanent home. Italy's EU membership also allows permanent residents to enjoy freedom of movement throughout the entire EU. Global hotspots like Barcelona, Munich and Paris are less than a two-hour flight from most of Italy's biggest of the flat-tax program participants are also establishing lucrative businesses inside Italian borders. Forbes reports that 46% of the people who took advantage of the flat-tax program in 2023 declared Italian income and paid regular taxes on €87 million worth of income. That's in addition to the real estate appreciation that long-time Italian landowners are benefitting from. Unfortunately, many Italians are discovering that the rapid real estate appreciation that accompanies an influx of rich expats can be a double-edged sword. Property values are increasing much faster than worker salaries, and builders are mainly concentrating on the more lucrative high-end market. That's creating a housing affordability crisis in many Italian cities. Read Next: This Jeff Bezos-backed startup will allow you to . Image: Shutterstock This article Millionaires Wanted–How Italy's New Tax Policy Is Turbocharging Its Real Estate Market originally appeared on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
