| Arabian Hills unveils Phase II of $6bn Dubai residential project
Building on the remarkable success of its first phase, Arabian Hills Real Estate Development has officially launched the second phase of its iconic AED22 billion ($6 billion) residential development, Arabian Hills Estate, strategically located on the Dubai-Al Ain Road. |
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| Paperless system to cut real estate transaction time
In a bid to modernize and regulate its real estate market, Kuwait has launched a new Electronic Real Estate Broker System, which is set to streamline transactions and enhance transparency. |
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| Saudi Arabia’s National Housing Co. launches 11 residential projects in Riyadh’s Khuzam area
Saudi Arabia’s National Housing Co. has launched 11 projects in Riyadh’s Khuzam area, offering over 10,000 units to meet growing demand for quality housing in the Kingdom. |
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| Saudi Arabia’s demand for apartments pushes new mortgages over $16bn
Banks in Saudi Arabia granted SR60.92 billion ($16.24 billion) in residential mortgages in the first nine months of 2024, an annual rise of 4.88 percent. |
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| Saudi Arabia needs 115k new homes a year to meet 2030 homeownership target: Knight Frank
Saudi Arabia will need to construct 115,000 homes annually over the next six years to address the demands of its growing population, according to new research by Knight Frank. |
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| Expatriates fuel strong demand for housing in Riyadh, Jeddah: report
Residential real estate demand in Riyadh and Jeddah is expected to stay robust due to population growth, particularly from expat inflows, according to a new report from S&P Global. |
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| Real estate becoming a cornerstone of Saudi Arabia’s economic diversification, experts say
Saudi Arabia’s real estate market has rapidly emerged as a key pillar in the Kingdom’s quest for long-term sustainability and economic growth, benefiting local residents and foreign investors alike, experts have told Arab News. |
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| Saudi real estate to see $48bn in deals at Cityscape Global 2024
Saudi Arabia’s real estate sector is poised for another major boost with an estimated SR180 billion ($48 billion) in deals expected to be signed at Cityscape Global 2024, taking place in Riyadh from Nov. 11-14. |
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| Regulatory reforms helping drive growth in Saudi Arabia’s commercial real estate sector
Saudi Arabia’s commercial real estate sector is witnessing robust growth, driven by rising demand across key industries, including offices, hospitality, and data centers. |
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| Kuwait: Residential property sales show signs of recovery in Q3 2024
Real estate sales were relatively stable in Q3 2024, amid a recovery in residential sales from weak levels of previous quarters and a surge in investment sales, outweighing a fall back in commercial activity. |
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| Saudi Arabia’s real estate price index rises 2.6% in Q3: GASTAT
Saudi Arabia’s real estate price index rose by 2.6 percent in the third quarter of 2024 compared to the same period last year, driven by growth in residential sector expenses, according to official data. |
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| Riyadh’s population to hit 9.6m by 2030, driving demand for 305k new homes: Knight Frank
Saudi Arabia’s capital Riyadh is poised for significant population growth, with the number of residents projected to rise from 7 million in 2022 to 9.6 million by 2030, according to a new report. |
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| Riyadh’s residential transactions soar 52% as Saudi housing market flourishes
Saudi Arabia’s residential market witnessed a 51.6 percent surge in transactions in Riyadh over the year to the end of the second quarter of 2024, a new analysis showed, as the sector continues its robust growth. |
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| Kuwait displays urban projects
Kuwait Municipality displayed its national projects at the Gulf Municipal Work Conference’s side exhibition, held in Riyadh. All Gulf Cooperation Council (GCC) countries participated in the exhibition, with each country hosting a pavilion. |
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| Dubai: Property owners rake in up to Dh15 million in profits by flipping units in 4 years
Several Dubai residents who bought property during the Covid pandemic and in its immediate aftermath are cashing in on soaring property prices in the city — with some raking in up to Dh15 million in resale of their units. |
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| Saudi banks issue $1.9bn in new loans in July as apartment lending surges
Saudi banks granted SR7.07 billion ($1.9 billion) in new residential mortgage loans in July, marking a 33 percent increase from the previous month, according to recent data. |
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| Saudi banks’ real estate loans reach $218bn thanks to annual 12% growth
Saudi banks real estate loans reached SR816.83 billion ($217.82 billion) in the second quarter of 2024, marking an annual 12 percent rise, according to official data. |
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| Saudi Arabia among top movers in real estate transparency globally: JLL
Saudi Arabia has been ranked as the second-best global improver in real estate transparency, according to a new index. |
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| Saudi Arabia’s real estate transactions surge 38% in H1, reaching $34bn: Knight Frank
Saudi Arabia witnessed a 38 percent rise in real estate transactions during the first half of the year, reaching 106,700 deals with a total value of around SR127.3 billion ($33.9 billion), according to Knight Frank. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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. |