Latest news with #residentialunits
Zawya
22-05-2025
- Business
- Zawya
Oman to receive 63,000 new residential units by 2030 as population grows
Oman plans to deliver 62,800 residential units by 2030, with 5,500 entering the market this year, real estate consultancy Cavendish Maxwell said in a report. The Gulf country is set to add 5,800 hotel rooms to its current inventory over the next five years, with 35 new hotels and resorts scheduled to open by 2030, the report said. The new rooms will boost current inventory by around 25 per cent. Residential real estate inventory grew by 3.6 per cent in 2024, with 38,400 new homes delivered. Oman's population is expected to reach 7.7 million from the current 5.3 million, driven by increasing numbers of both Omani nationals and expatriates. More than 80,000 new homes are projected to be delivered between now and 2040, Cavendish Maxwell said. Integrated Tourism Complexes (ITCs) will play a pivotal role in shaping Oman's real estate sector as non-Omani nationals can own freehold property. Several ITCs are under development in locations like Muscat, Dhofar, South Al Batinah, South Al Sharqiyah and Musandam, the report said. Oman is currently home to 270 hotels and resorts, with 24,000 rooms between them. Another 5,800 rooms across 35 hotels and resorts are set to come online by 2030, with 54 percent in the upper upscale and luxury segments, suggesting a shift towards high-value tourism, Cavendish Maxwell said. (Writing by P Deol; Editing by Anoop Menon) (
CTV News
21-05-2025
- Business
- CTV News
Kanata office building to be converted to 115-unit residential building
Plans call for the conversion of an 11-storey office building into a mixed-use building with 115 residential units in Kanata. (City of Ottawa report/website)
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Dubai's plan for affordable housing project for working professionals takes off
Dubai's Roads and Transport Authority (RTA), Dubai Municipality, and Wasl Group have signed an agreement to launch a series of affordable housing projects across the city. More than 17,000 residential units will be developed to accommodate professionals of various nationalities employed in both the public and private sectors. The first phase of the project will cover six areas across Dubai, spanning a total area of 1.46 million square metres. The initiative is a key part of the Dubai 2040 Urban Master Plan. "Our goal is to offer quality housing that improves living standards for Dubai's workforce and strengthens its status as one of the world's best cities to live and work," Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said in a post on X.
Yahoo
09-05-2025
- Business
- Yahoo
Huge city centre towers get go-ahead
Plans to build multiple new towers in the heart of Birmingham have been given the green light by planners. Five new buildings form part of the proposals for the former Axis Building on Holliday Street, including a 49-storey residential skyscraper as well as student accommodation and apartments. However, the plans were approved on Thursday only after a major change was made to the housing mix which satisfied councillors. The buildings will be based around a public square, which a council report said would be a "significant public realm improvement". Buildings one and two of the scheme will be residential towers, 49 and 39 storeys high, and comprise 868 residential units across them both. The student residential tower was proposed to feature 29 storeys and provide room for 720 people, as well as a food hall at lower levels. The fourth building is set to be used as a hotel with 229 serviced apartments while the fifth, a residential building, will deliver 122 homes across 10 storeys. Those behind the project said the development could become a "dynamic new destination" in Birmingham city centre and create a "vibrant, lively atmosphere" on the site, which is now a cleared plot of land. The change in the plans will see the 122 homes now being "for sale", rather than build to rent. Another concern raised by one councillor about a building being made up of one-bedroom flats has also been met with a council officer stating that the housing mix can be supported in the "inner central area". Councillor Gareth Moore said: "I do welcome the change - we should be allowing families the opportunity to live in the city centre. "We shouldn't assume everyone that does is a single, young professional because that isn't the case." Lee Marsham, chair of the planning committee, said: "I think it's great to see a brownfield site put forward and brought into use. "I think it's good that they listened from our previous comments." Follow BBC Birmingham on BBC Sounds, Facebook, X and Instagram. This news was gathered by the Local Democracy Reporting Service which covers councils and other public service organisations. Plans for 42-storey skyscraper at ex-hospital site Birmingham City Council
