Real Estate

Abu Dhabi / WAM The Ministry of Economy (MoE) and the Ministry of Justice (MoJ), in partnership with the UAE Financial Intelligence Unit (FIU), have announced the introduction of new reporting requirements aimed at certain real estate transactions conducted in the UAE. The UAE is one of the first countries to implement such a mechanism for real estate transactions involving ...

  Dubai / WAM The real estate and properties transactions valued at AED5.3 billion in total during the week ending August 5. The sum of transactions was 2,247. 255 plots were sold for AED1.24 billion, 1,510 apartments and villas were sold for AED2.79 billion. The top transactions were a land in Hadaeq Sheikh Mohammed Bin Rashid sold for AED106.57 million, ...

  Bloomberg Toronto benchmark home prices fall for a fourth-straight month, a record-breaking streak of declines that some economists warn could become an historic downturn in Canada’s real estate market. The home-price index in Canada’s largest city declined 3.9% in July from the month earlier, bringing the total drop since April to 13.3%, according to data released on Thursday by ...

  Bloomberg The UK’s bleak economic outlook and rising interest rates are finally biting into the country’s housing market, the latest figures from Britain’s lenders show. NatWest Group Plc reported net mortgage growth of £3.3 billion ($4 billion) in the second quarter, down from £3.6 billion in the same period last year. Barclays Plc reported near stagnant growth in home ...

DUBAI / WAM Dubai’s real estate market recorded a total of 8,897 sales transactions worth AED22.75 billion, the highest volume of sales transactions for the month of June in the past nine years, according to Mo’asher, Dubai’s official sales price and rental performance index. The month of June witnessed a 34 percent increase in terms of volume and a 24.8 ...

  Sharjah / WAM The semi-annual report issued by the Sharjah Real Estate Registration Department (SRERD) revealed that the value of real estate trading during the first six months of 2022 amounted to AED 11.2 billion. The total number of sales transactions amounted to 3,327, with a total value of AED4.1 billion, of which AED3.9 billion were in the city ...

  Dubai / WAM Dubai real estate market recorded 446 sales transactions worth AED1.07 billion, in addition to 85 mortgage deals of AED168.99 million, and 29 gift deals amounting to AED34.46 million on Monday, data released by Dubai’s Land Department (DLD) showed. The sales included 376 villas and apartments worth AED803.87 million, and 70 land plots worth AED261.85 million, while ...

  Abu Dhabi / WAM Abu Dhabi’s real estate market sustained growth driven by investor optimism, recorded 7,474 property transactions amounting to over AED22.51 billion, as per the latest report released by the Department of Municipalities and Transport (DMT). The department’s half-yearly report indicates that all kinds of land, buildings, and real estate were purchased, sold, and mortgaged. DMT’s real ...

SHARJAH / WAM Sharjah real estate developer, the Alef Group, has launched Zone 3 in its Al Mamsha Sharjah development at a value of AED1.6 billion. The AED 5 billion project, based in the Al Muwaileh area, will be the city’s first fully walkable community. Al Mamsha Raseel (Zone 3) comprises 2210 units offering a variety of modern 1-, 2-, ...

  Bloomberg Canadian home prices saw their biggest monthly decline in at least 17 years as the impact of higher interest rates began to spread across the country. The benchmark price of a home falls 1.9% in June versus the previous month, according to data by the Canadian Real Estate Association. That’s the third straight month of falling prices, and ...