Latest news with #JVC
Hans India
12 hours ago
- Business
- Hans India
Def tech co takes ‘Make in India, Make for the World' to Philippines
Bengaluru: In a move that reinforces Prime Minister Narendra Modi's vision of 'Make in India, Make for the World', and India's growing role as a global defence manufacturing hub, SMPP Limited, a leading Indian defence technology company, has signed a landmark Memorandum of Understanding (MoU) with Asia Defence and Firepower Corporation (ADFC) of the Philippines to establish a strategic joint venture corporation (JVC). The proposed JVC will be headquartered in the Philippines and focus on manufacturing, assembling, and distributing a range of SMPP's advanced defence products, tailored to support the Philippine government's Self-Reliant Defence Posture (SRDP) initiative under Republic Act No. 12024.
Gulf Business
2 days ago
- Business
- Gulf Business
Revealed: Dubai's top 6 hotspots for first-time buyers
Image credit: DAMAC Islands/Website Dubai's residential real estate market is undergoing a notable transformation in 2025, with shifting buyer preferences, robust rental yields, and strategic new developments shaping activity across the emirate. While apartments remain the most transacted asset class, emerging trends point to growing interest in suburban communities, larger properties, and value-oriented investment zones. Backed by government support, improved infrastructure, and evolving buyer demographics, several key residential hubs have recorded strong momentum in the first quarter of the year. Among Dubai's top six residential communities— Jumeirah Village Circle (JVC), DAMAC Island, Downtown Dubai, Meydan City, Dubai Marina, and Dubai South —transaction volumes have been rising steadily. This growth is supported by competitive pricing, enhanced infrastructure, and attractive rental yields. Read- DAMAC Island, the most affordable among the six, reported an average price of Dhs823 per square foot and a robust rental yield of 7.38 per cent. These figures are largely driven by off-plan pricing advantages and high-return opportunities for early investors. Dubai South followed with average prices of Dhs1,035 per square foot and rental yields of 6.77 per cent, while JVC saw average rates of Dhs1,238 per square foot, offering a strong return of 7.39 per cent. JVC remains a favourite among first-time buyers and younger tenants due to its affordability and accessibility. Dubai Marina, located in a more central zone, recorded average prices of Dhs1,757 per square foot, with yields close to 6.24 per cent. Downtown Dubai, with its premium location and iconic skyline, commanded the highest average rate at Dhs2,504 per square foot, delivering a solid 6 per cent return. In contrast, Meydan City emerged as a value-driven alternative, with an average of Dhs 1,915 per square foot and yields of 7.14 per cent, supported by ongoing infrastructure improvements and larger apartment layouts. Zone 6 leads in activity and launches Zone 6, which encompasses several emerging micro-markets along the Al Khail corridor, recorded the highest transaction activity in Q1 2025. It accounted for 55 per cent of total residential transactions and 56 per cent of newly launched units. This zone includes areas such as JVC, Dubailand, DAMAC Hills 2, The Valley, and DAMAC Lagoons, where land availability is more abundant compared to central locations like Business Bay and Downtown Dubai. The Wilds by Aldar in Dubailand Sobha Solis in Motor City Samana Resorts in Dubai Production City Ellison & Baltimore by Nshama in Town Square These projects offer a mix of price points and product types, catering to a wide demographic of buyers and investors. Shift toward suburban growth The rise of suburban communities is being driven by evolving urban planning strategies. Limited land availability in central areas has prompted the development of expansive, master-planned suburban zones. Major developers such as Emaar and Binghatti are leading this expansion, introducing projects that appeal to both local and international buyers. Government authorities including the Dubai Land Department and the Roads and Transport Authority (RTA) are working in tandem to ensure long-term sustainability and livability across these new communities. Apartments continued to dominate Dubai property transactions in Q1 2025, accounting for approximately 76 per cent of total residential sales. However, this represents a slight decline both quarterly and year-on-year. The shift is largely attributed to increasing demand for larger homes, particularly among families and long-term residents looking for more space and lifestyle-centric environments. Investors, too, are recognising the value of townhouses and villas, especially in areas offering higher yields and family-friendly amenities. Easier access for first-time buyers Recent policy updates and financial initiatives have also contributed to this shift. First-time buyers now benefit from reduced down payment requirements and more accessible mortgage options, facilitated by strategic partnerships between developers and banks. Mania Merrikhi, Chief Operating Officer and Managing Director of Chestertons MENA, noted: 'At Chestertons, we've seen Dubai evolve into a powerhouse for real estate investment. Initiatives like the D33 agenda are set to drive even greater economic and urban growth over the next decade. At the same time, attention is shifting towards other emirates, particularly Abu Dhabi, where high-profile developments and infrastructure projects are opening up exciting new opportunities for investors.' Mohamed Mussa, Executive Director of Chestertons MENA, added: 'Government support continues to play a vital role in shaping the UAE's real estate market. Buyer-friendly regulations are making it easier for first-time buyers to enter the market. These developments are attracting a new wave of international and family-oriented investors. Looking forward, we expect particularly strong demand for full-service, master-planned communities that deliver on lifestyle, convenience, and value.' New residential projects on the horizon Dubai saw the launch of approximately 95 new residential projects in Q1 2025, introducing nearly 28,600 new units to the pipeline. However, the pace of new launches slowed compared to previous quarters, contributing to a decrease in off-plan transaction volumes. About 9,300 residential units were completed during the first quarter of 2025, with apartments comprising 79 per cent of the total. This marked the second-highest quarterly completion volume in the last two years, following Q4 2023. Looking ahead, Dubai's housing stock is set for significant expansion. Nearly 300,000 new residential units are projected to enter the market by 2028. A substantial portion of this supply is expected during 2026 and 2027, indicating a potential surge in completions. For the remainder of 2025, roughly 73,000 units are slated for delivery. However, these figures may shift due to evolving buyer preferences, market dynamics, and potential construction delays. Developers are expected to closely monitor the market to adjust release strategies accordingly. Outlook: Value, lifestyle, and long-term potential As Dubai's residential property market continues to evolve, the spotlight is turning toward communities that balance affordability, lifestyle appeal, and long-term value. With supportive government policies, a steady influx of new projects, and investor-friendly conditions, Dubai remains a key market for regional and global real estate investors. Chestertons MENA, backed by deep market insight and decades of experience, positions itself as a strategic advisor for buyers navigating the complexities of this dynamic landscape.
Gulf Business
30-07-2025
- Business
- Gulf Business
Imtiaz Developments marks early handover of Pearl House in JVC
Image credit: Supplied photo Dubai-based prime luxury developer, Imtiaz Developments, continues its handover streak with the successful delivery of Pearl House, its fourth completed project in Jumeirah Village Circle (JVC). Delivered four months ahead of schedule, this early project completion follows the recent handover of Westwood Grande I and Westwood Grande II, all delivered on time, setting a new benchmark for timely execution in Dubai's real estate sector. Image credit: Supplied photo With over 40 active projects and Dhs10bn in total sales, Imtiaz Developments remains steadfast in its commitment to quality, innovative design, and timely delivery. Valued at Dhs155m, Pearl House by Imtiaz brings a new level of contemporary living to JVC. The development features a collection of 190 fully furnished studio and one-bedroom apartments in a 16-storey mid-rise tower. Image credit: Supplied photo Designed to appeal to both end-users and investors, the project offers a blend of elegance, comfort, and functionality in one of Dubai's substantially transacted areas known for solid rental yields. 'Following the success of our previous projects in the Jumeirah Village community, we are proud to handover Pearl House by Imtiaz—a development that reflects our continued dedication to design innovation and architectural excellence,' said Masih Imtiaz, CEO of Imtiaz Developments. 'This project is part of our strategic growth roadmap for 2025, and we are thrilled to see it come to life ahead of schedule.' Image credit: Supplied photo Pearl House marks the first project in the series, followed by Pearl House 2 and Pearl House 3, scheduled for delivery in Q4 2025 and Q1 2026 respectively. Inspired by oceanic beauty, the apartments are thoughtfully crafted with custom-made furniture, integrated smart home systems, and built-in office spaces designed for modern remote work lifestyles. As Imtiaz Developments continues to expand across key districts such as Dubailand Residential Complex, Dubai Islands, and Meydan, the company remains focused on building high-quality communities that merge architectural distinction with enduring lifestyle and investment value.
Khaleej Times
29-07-2025
- Business
- Khaleej Times
UAE rents have risen by almost a quarter over the last 10 years
Rental rates across the UAE have risen by an average of 23.6 per cent over the past ten years, recent data shows. According to research by Property Finder, a real estate portal, between November 2023 and November 2024, the average rental price increased by 23.6 per cent across the country. The average rental price increased by 33.0 per cent over five years (November 2019 to November 2024), driven by an influx of expatriates and an increase in rental contracts. Rental properties continue to be popular across the UAE. For many residents, especially expats, renting offers flexibility without the long-term commitment of ownership. While property prices have risen in some areas, renting often remains the more affordable option, especially for those prioritising location or lifestyle amenities. Many people also value the convenience of renting, with maintenance typically handled by landlords or property managers. This makes it easier to manage day-to-day life. However, rental demand tends to vary across the UAE, with certain communities offering these benefits and more. UAE's top rental hotspots As of June 2025, Dubai garnered the most searches for apartments for rent on Property Finder. Sharjah and Abu Dhabi ranked second and third, respectively, in terms of page views, according to internal data on Property Finder. Jumeirah Village Circle (JVC) has the highest number of page views for apartments for rent among the Dubai communities, with 214,607 page views. Jumeirah Beach Residence (JBR) stands out with 4,910 listings marked as favorites on Property Finder, more than any other area in the city. Dubai dominates the market in terms of both rental activity and property availability, showcasing the high demand for apartments for rent in Dubai. The communities with the most rental properties in Dubai are: JVC (9,092), Business Bay (5,631), Downtown Dubai (5,541) and Dubai Marina (4,933). Of these popular rental communities, apartments make up an average of 96 per cent of the available units on Property Finder, highlighting the demand for apartments in Dubai. The average yearly rent across all communities is approximately Dh86,222. Palm Jumeirah stands out as the most expensive community, with an average annual rent of Dh170,000. Al Nahda, a community in Sharjah, has the lowest average yearly rent at Dh43,000. Dubai recorded its highest listing at Dh1,500,000 per year and its lowest at Dh28,000. The average rent is Dh90,000. Abu Dhabi's highest listing is recorded at Dh350,000 per year, and the lowest is Dh27,000. The average rent is Dh82,999. Rental prices in the UAE have seen strong growth over the short and long term. 'Rental activity across the UAE reflects broader trends that include growing expat populations, economic opportunities, and shifting preferences in housing. Dubai leads in volume and variety, while Sharjah and Abu Dhabi offer competitive alternatives. As 2025 unfolds, renters will continue to look for communities offering the best price, location, and lifestyle,' a statement said.
Khaleej Times
29-07-2025
- Business
- Khaleej Times
Off-plan apartment transactions in Dubai surged 43% in second quarter
Second quarter off-plan apartment transactions in Dubai surged 43 per cent quarter-on-quarter, contributing significantly to a total sales value of Dh60.15 billion, a 37 per cent increase year-on-year, data showed on Tuesday. According to Betterhomes' Shaping Skylines, Dubai Residential Real Estate Q2 2025, the off-plan segment accounted for the majority of Dubai's residential market activity, underpinned by strategic launches from top-tier developers and investor-friendly payment plans. Among the top-performing communities for off-plan apartments in Q2 2025 were Jumeirah Village Circle (JVC), which led with 12.2 per cent of total off-plan transactions, followed by Business Bay at 6.4 per cent, Dubai Residence Complex at 5.3 per cent, while Motor City and Production City each contributed 5 per cent. Two-bedroom apartments were the highest contributors to off-plan transaction value making up 33 per cent, with one-bedroom apartments at 30 per cent and studios at 10 per cent. The average price per square foot for off-plan transactions stood at Dh2,023. 'The off-plan market continues to be one of Dubai's biggest growth stories. Buyers are showing greater discernment, focusing on quality, developer reputation, and long-term rental yield potential. We're seeing high absorption of newly launched projects, especially in well-connected, master-planned communities,' said Christopher Cina, Director of Sales at Betterhomes. Off-plan market trends and buyer preferences In the off-plan segment, The Valley accounted for the largest share of transactions at 29.7 per cent, followed by Emaar South with 15.5 per cent, Athlon by Aldar at 8 per cent, and MBR City at 7.3 per cent. The total off-plan transaction value for villas and townhouses stood at Dh7.94 billion, with townhouses driving 75 per cent of this value and villas contributing the remaining 25 per cent. This trend reflects a preference among buyers for townhouses in new developments, although the broader end-user market continues to favour ready-to-move-in properties for permanent residence. In terms of unit size, four-bedroom homes accounted for 49 per cent of the total off-plan transaction value, followed by three-bedroom units at 23 per cent and fivebedroom units at 12 per cent. The average price per square foot was Dh1,318 for townhouses and Dh1,947 for villas. Overall, Dubai's real estate market maintained its momentum in Q2, with transactions up 25 per cent year-on-year and total value rising 46 per cent. Apartments and off-plan led activity, while the luxury segment hit record highs. Even during June's regional unrest, the market remained resilient; reinforcing Dubai's position as a safe, stable destination for capital and lifestyle buyers alike. This strong quarterly performance builds on a robust first quarter, which recorded quarter-on-quarter growth of 33 per cent in value and 19 per cent in volume. The sustained momentum highlights growing investor confidence and the continued appeal of Dubai's property sector. Secondary market activity In the secondary apartment market, JVC again emerged as the top performer, accounting for 11.2 per cent of transactions, followed by Business Bay at 7.5 per cent, Dubai Marina at 5.8 per cent, with Mohammed Bin Rashid (MBR) City and Downtown Dubai each holding a 5 per cent share. Two-bedroom apartments were again the largest contributor to transaction value, representing 36 per cent, with one-bedroom apartments at 28 per cent and studios at 8 per cent. The average price per square foot for secondary apartments was Dh1,600. This data highlights the ongoing strength and demand across Dubai s apartment market, with JVC and Business Bay remaining key focal points for both off-plan and secondary transactions. The growth in transaction value, particularly for two-bedroom apartments, indicates strong investor confidence and a stable market outlook moving into the second half of 2025. 'As we move into Q3, the fundamentals remain strong. Population growth is steady, infrastructure continues to expand, and while more supply is coming online, demand is still outpacing it in most areas. We expect to see more negotiation, more realistic pricing, and a little more competition, which, frankly, is no bad thing,' Louis Harding, CEO of Betterhomes, said. 'With approximately 20,000 new units delivered in the first half of 2025 and a further 70,000 expected by year-end, Q3 is shaping up to be an exciting phase for Dubai's property market. This upcoming supply is well-aligned with the city's growing population and strong investor appetite. Demand remains robust particularly for apartments and ready villas with healthy absorption of new launches. Both Q3 and the second half of 2025 are expected to reflect positive market sentiment, supported by a resilient economy, sustained end-user demand, and attractive rental yields,' Cina said.
