| KSA secures key US deals to boost real estate development Saudi Arabia’s housing sector has strengthened its international partnerships by signing five key agreements on real estate development and financing with major US companies. |
| Saudi Arabia to sign real estate deals with US during minister’s visit Multiple US-Saudi real estate agreements are set to be signed during a five-day visit by a leading official from the Kingdom to the North American country. |
| Saudi Arabia’s construction contracts soar to $32bn in Q1 2024: USSBC Saudi Arabia saw a 79 percent increase in the value of construction contracts awarded during the first quarter of 2024, reaching SR118.8 billion ($31.65 billion), a new analysis showed. |
| Oman’s real estate trading exceeds $3.66bn in first half of 2024 Oman’s real estate sector saw a total trading value of 1.40 billion Omani rials ($3.63 billion) in the first half of the year, marking a 0.5 percent increase from the same period in 2023. |
| Qatar sees 36% rise in building permits issued in July Qatar’s construction sector is experiencing robust growth, with the nation documenting a 36 percent month-on-month rise in building permits in July. |
| Sharjah Sustainable City hits Dh2.5 billion in sales Sharjah Sustainable City, the first sustainable master-planned residential community developed by Sharjah Investment and Development Authority (Shurooq) in partnership with Diamond Developers, has achieved a sales transaction value exceeding Dh2.5 billion across all four phases. |
| Saudi retail real estate sales to reach $183bn by 2027: Deloitte Saudi Arabia’s retail real estate sales are set to grow from 2.4 percent in 2024 to 2.7 percent by 2027, reaching $183.2 billion, driven by modernization and urban development. |
| Saudi municipalities offer 57 investment opportunities across commercial and residential sectors Saudi Arabia’s Hail, Qassim, and Asir municipalities have unveiled 57 new investment opportunities across entertainment, sports, commercial and residential sectors, aimed at boosting economic growth and supporting the private sector. |
| Dubai’s residential property sales surge more than 33%, reports brokerage firm Dubai’s residential property sales saw a 33.5 percent annual increase in the first half of 2024 with 77,233 transactions, according to a top brokerage company. |
| Saudi Real Estate Market platform average visits per day double since February Saudi Arabia’s Real Estate Market online platform has seen daily visits doubled to 60,000 in July since February, driven by government efforts to enhance transparency and streamline property procedures. |
| Alandalus Property commences $222m commercial center project in Makkah Saudi holy city Makkah is set to see a boost in its commercial infrastructure with Alandalus Property Co. commencing construction on an SR831 million ($222 million) project. |
| Saudi home ownership rate passes 63%, closing in on Vision 2030 target The percentage of Saudi households owning a home reached 63.74 percent at the end of 2023, an increase of 16.7 percent compared to 2016, according to a new report. |
| Real Estate Brokerage Law spurs 17% surge in Saudi property transactions, watchdog head reveals New regulations providing safeguards in Saudi Arabia’s real estate sector helped drive up residential and commercial property transactions by 17 percent within their first year, according to a senior official. |
| Aldar and DP World to develop Grade A logistics park in Dubai Aldar Properties and DP World have signed a strategic agreement where Aldar will fund and develop a 1.55 million sqft (144,000 sqm) Grade A logistics park at National Industries Park (NIP) in Jebel Ali, Dubai. |
| MS Homes enters Dubai market with new Marina Boulevard tower MS Homes Developers has announced its foray into Dubai’s real estate market with its debut project ‘Iluka Residences’, an eight-floor residential building providing elevated lifestyle and sophisticated living, located on Marina Boulevard, in the heart of Dubai Islands. |
| Mabanee inks Kuwait luxury resort management deal Leading Kuwaiti developer Mabanee has signed a KD5.1 million ($17 million) contract with Touristic Enterprises Company for the operation and managment of a resort in Kuwait city. |
| Indian developer enters into Dubai market, plans over Dhs2b investment Zoya Developments, a prominent real estate developer from India, announced its expansion into the UAE market with investment of over Dhs2 billion allocated for the next 3 years. |
| Dubai sees record residential transactions after 20% surge: report Dubai’s residential market activity hit record highs in the second quarter with 35,310 transactions, a 20.5 percent year-on-year increase, driven by customizable units and stable investment returns, a new report showed. |
| Saudi projects to take spotlight at 15th Real Estate Development Summit in Spain Saudi real estate projects will take center-stage at a two-day summit in Spain featuring over 100 companies, showcasing major developments and new business opportunities in the Kingdom. |
| UAE developers embrace sustainability to boost property values UAE developers can leverage sustainability to add value to their properties, as new data shows that 70 percent of investors are willing to pay premiums for green facilities. |
| Ajman completes 169 real estate valuations worth over Dh729.5 million in May The Department of Land and Real Estate Regulation in Ajman completed 169 real estate valuation processes during May 2024 with a total value exceeding Dh729.5 million, data showed. |
| Saudi banks’ real estate loan portfolios hit $213.5bn in Q1 2024 Saudi banks’ real estate loan portfolios reached SR800.5 billion ($213.5 billion) in the first quarter of 2024, a 13 percent increase from the same period last year, the latest official data showed. |
| Bahrain’s real estate sector holding steady, report says Bahrain’s real estate sector remained steady in the first quarter of this year, with 6,124 sales transactions, representing a marginal 3 percent year-on-year decline, an analysis showed. |
| Riyadh residential market sales surge 77%: CBRE report Saudi Arabia’s residential market experienced robust growth in demand, with Riyadh witnessing a 77 percent year-on-year increase in sales transactions in the first quarter, a new report showed. |
| Saudi Arabia prioritizes real estate sector with 18 legislative initiatives to drive growth The Saudi government is prioritizing the real estate sector, enacting over 18 pieces of legislation to drive its growth and significantly boost its gross domestic product. |
| Saudi property forum to enhance local real estate supply chain access Saudi real estate firms are poised to gain improved access to the supply chain with major industry players set to gather in Riyadh for an event designed to enhance cooperation and forge partnerships. |
| UAE: 50 fines issued against real estate agents, 7 licences suspended for violating rules Several real estate agents were fined, and brokerage licenses were suspended for non-compliance with real estate rules and regulations in Abu Dhabi. |
| Dubai: Why some investors have put property sales on hold Many investors are demanding higher rates than earlier for their properties on sale in Dubai South and its vicinity, while many of them have decided to hold off the sales for the time being. Reason: The announcement of the relocation of the Dubai Airport (DXB) airport to Dubai South. |
| Dubai Real Estate Brokers Program attracts 25 strategic partnerships Dubai’s property market is set to grow, with the Real Estate Brokers Program securing 25 partnerships with brokerage companies and developers in the private sector. |
| Dubai’s high-end property sales rise on overseas demand Sales of homes in Dubai worth $10 million or more rose 6 percent in the first quarter versus last year, an industry report showed on Tuesday, as demand from the international ultra-rich for homes in the emirate showed little sign of abating, according to Reuters. |
| Qataris favor villas as top residential choice, official data reveals Residential building permits in Qatar surged in March, reaching 257 licenses, up from 193 the previous month, according to official data. |
| Rental prices for villas in Dubai surge 16.2%: CBUAE Dubai’s real estate market witnessed strong growth in 2023, with rental prices for villas surging 16.2 percent year-on-year in the fourth quarter, official data showed. |
| Dubai drives UAE real estate sector to record $208bn in transactions Real estate transactions in four of the UAE’s emirates surged in 2023 as they recorded a combined 22.6 percent annual increase in value – totaling 765.1 billion dirhams ($208.34 billion). |
| Saudi Real Estate Fund boosts homeownership with $257m for Sakani program Homeownership in Saudi Arabia is set to increase as the Real Estate Development Fund deposited SR963 million ($256.7 million) into the accounts of Sakani beneficiaries for March. |
| Dubai realty on track to deliver 34,000 units in 2024 The UAE’s real estate sector is expected to continue its upward trajectory in 2024 despite a softening global outlook, with Dubai and Abu Dhabi on track to deliver approximately 34,000 units and 8,000 units respectively, according to experts at a panel discussion. |
| Home ownership eyed by 77% of Saudi-based expats, reveals survey A new premium residency visa has spurred home-ownership demand among Saudi-based expats, with 77 percent now looking to buy a property, a survey has revealed. |
| ‘Saudi Arabia could double hotel rooms in the next 10 years’ Saudi Arabia should double the number of hotel rooms in the next 10 years to meet the rising number of religious tourists, a top official has said. |
| Saudi Arabia’s real estate sector poised for growth in 2024: S&P report Real estate transactions are set to surge in Saudi Arabia in 2024 thanks to Vision 2023 investments, according to an S&P Global report. |
| High-net-worth Muslims eye $2bn real estate investment in holy cities: survey Saudi Arabia’s real estate market is set for an upswing as high-net-worth Muslim individuals plan to invest $2 billion in Makkah and Madinah properties, a recent survey indicated. |
| Dubai: Property prices to increase up to 14% in 2024, says Binghatti CEO Property prices in Dubai are expected to increase up to 14 per cent this year, driven by population growth, high demand for mortgages due to an expected drop in interest rates and more millionaires parking their wealth here, said Muhammad Binghatti, CEO of Binghatti Holding. |
| Riyad Capital, Al-Ramz launch $186m real estate fund to develop new project The Saudi capital will soon be home to new offices and commercial projects thanks to the launch of the Durrat King Khalid Fund, inaugurated by Riyad Capital. |
| 20% higher returns: Why UAE homeowners are listing properties for short-term rentals Short-term rentals are emerging as a major second income for UAE residents as they are high in demand and offer much higher returns. Industry executives say that many first-time property owners are listing their properties for short-term rentals to earn a second income. |
| Dubai real estate market soars amid record residential transactions in 2023: report Dubai’s real estate market experienced robust growth in 2023, reaching an all-time high with residential transactions totaling 118,993 units, a report from CBRE revealed. |
| Restatex kicks off in Riyadh with $640m in real estate deals Saudi developers received a funding boost with deals exceeding SR2.4 billion ($640 million) signed on the sidelines of the four-day Restatex Real Estate Exhibition in Riyadh. |
| Riyadh sees 7% real estate transaction volumes surge: Knight Frank Saudi Arabia’s capital witnessed a 7 percent rise in real estate transaction volumes in 2023 compared to the previous year, according to Knight Frank. |
| Gulf real estate sector poised for growth in H1 2024: Markaz Report The Gulf real estate sector is set to witness growth in the first half of 2024, driven by increasing demand and supporting government policies, according to a report. |
| Saudi real estate funds hit $45.3bn in Q3 of 2023 Real estate in Saudi Arabia now represents a third of all assets under management in the Kingdom, according to the Capital Market Authority’s chairman. |
| Innovation and sustainability in the spotlight at Real Estate Future Forum in Riyadh this month Emerging property trends, in particular innovations and sustainable solutions, will be in the spotlight at the third Saudi Real Estate Future Forum in Riyadh from Jan. 22 to 24. |
| Riyadh’s Real Estate Future Forum to discuss global trends and innovations Emerging property trends will take the spotlight, emphasizing innovations and sustainable solutions, as 300 speakers from 85 countries convene for the Real Estate Future Forum in Riyadh. |
| Dubai rents set to climb 20% in 2024 Rents in prime Dubai residential areas are poised to see up to 20 per cent in 2024 after a year of remarkable upswing estimated to be in the range of 23-30 per cent. |