Latest news with #townhouses
Khaleej Times
a day ago
- Business
- Khaleej Times
Dubai homeowners renovate villas, townhouses as prices double in 3 years
Sellers in Dubai are renovating their older villas and townhouses to take advantage of strong demand as the average price has nearly doubled in the past three years. 'Since May 2022, the average villa and townhouse prices have skyrocketed by a remarkable 92 per cent, climbing from Dh3.475 million to Dh6.682 million in just three years. Even within the last year alone, these properties have seen a significant 35 per cent increase in sales price across villa and townhouse communities. This is a clear indicator of sustained demand, limited supply, and growing investor confidence in villa and townhouse communities in Dubai,' said real estate agency Allsopp and Allsopp, quoting Dubai Land Department (DLD) data. 'The Dubai real estate market is not just growing; it's redefining investment benchmarks, especially for villas and townhouses. Imagine nearly doubling your investment in just three years; that's the reality for villa and townhouse owners in Dubai. "The under-supply of quality homes, particularly ready and upgraded villas, continues to fuel this growth. Buyers want space, established communities, and turnkey homes they can move into immediately which is exactly what communities like Arabian Ranches, Jumeirah Golf Estates and Victory Heights have,' said Lewis Allsopp, chairman of Allsopp & Allsopp. Upgrading older villas, townhouses Dubai's property market has seen massive demand, especially for bigger units such as villas and townhouses soon after the outbreak of the pandemic. The restrictions on the people's movement by the authorities to contain the pandemic prompted residents to look for bigger units, pushing demand and prices of villas substantially higher. Dubai Land Department (DLD) reported Dh54 billion in property sales transactions in May, an impressive 11 per cent increase from the previous month. According to Asteco's latest data, 6,375 villas were handed over in 2024 and 2,750 in the first quarter of 2025. It is expected that 14,600 villas will be handed over by the end of 2025. The real estate agency noted that sellers are increasingly recognising the potential in renovating older properties, as these modern homes within their community now command significant prices. 'We're now seeing more sellers upgrade and list their homes as the demand for bigger, newly renovated properties grows. Many of Dubai's older homes offer unmatched space, with buyers opting for modernised and renovated homes rather than taking on the time and effort of upgrading themselves,' said Lewis Allsopp.
Washington Post
21-05-2025
- General
- Washington Post
Reservoir District pumps new life into historical Washington site
Century-old silos stand sentry over the newest incarnation of the area where they once housed tons of sand used to filter water from the McMillan Reservoir in Northwest Washington. Today the 20 concrete structures border EYA's Reservoir District development, where 146 townhouses are rising as part of a reimagined community that blends history with a modern aesthetic following a years-long controversy over the future of the area.
ABC News
20-05-2025
- Business
- ABC News
Planning changes to address 'missing middle' in housing supply
The ACT government proposes changes to planning rules so more "missing middle" housing like townhouses and duplexes can be built.
Zawya
12-05-2025
- Business
- Zawya
Modon's $544mln Nawayef Village in Abu Dhabi sold out
Modon Holding, an Abu Dhabi-based holding company, has confirmed the sell-out of Nawayef Village – a vibrant gated community offering the first townhouses on Hudayriyat Island – within the same day of launch. The sell-out of 378 units generated approximately AED2 billion ($544 million). The high demand for the Nawayef Village development – an integrated community offering three- and four-bedroom townhouses and five-bedroom twin villas inspired by the classic beauty of the Tuscan countryside – highlights the strong appetite for such properties in Abu Dhabi, and the enduring appeal of the sought-after Hudayriyat Island. Bill O'Regan, Group CEO of Modon Holding, said: 'At Modon, we are on a mission to build vibrant communities across Abu Dhabi and to position the UAE capital as one of the world's best places to live, invest, and work. With Nawayef Village, we seek to reimagine urban living and continuously enhance the residential offering in the city.' Ibrahim Al Maghribi, CEO of Modon Real Estate, said: 'The success of Nawayef Village is a testament to Modon's track record and commitment to developing groundbreaking projects and highlights the growing demand for townhouses in the emirate of Abu Dhabi. We will continue to bring to life communities that meet the expectations of those who seek an exceptional lifestyle in line with the highest international standards of excellence.' Nawayef Village forms an integral part of the wider Nawayef luxury residential neighbourhood, an elevated freehold development that will offer an entirely superior living experience at the heart of Hudayriyat Island, one of Abu Dhabi's most desirable locations. - TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
10-05-2025
- Business
- Trade Arabia
Modon's $544m Nawayef Village sold out
Modon Holding, an Abu Dhabi-based holding company, has confirmed the sell-out of Nawayef Village – a vibrant gated community offering the first townhouses on Hudayriyat Island – within the same day of launch. The sell-out of 378 units generated approximately AED2 billion ($544 million). The high demand for the Nawayef Village development – an integrated community offering three- and four-bedroom townhouses and five-bedroom twin villas inspired by the classic beauty of the Tuscan countryside – highlights the strong appetite for such properties in Abu Dhabi, and the enduring appeal of the sought-after Hudayriyat Island. Bill O'Regan, Group CEO of Modon Holding, said: 'At Modon, we are on a mission to build vibrant communities across Abu Dhabi and to position the UAE capital as one of the world's best places to live, invest, and work. With Nawayef Village, we seek to reimagine urban living and continuously enhance the residential offering in the city.' Ibrahim Al Maghribi, CEO of Modon Real Estate, said: 'The success of Nawayef Village is a testament to Modon's track record and commitment to developing groundbreaking projects and highlights the growing demand for townhouses in the emirate of Abu Dhabi. We will continue to bring to life communities that meet the expectations of those who seek an exceptional lifestyle in line with the highest international standards of excellence.'
