Dubai: Sharjah’s biggest developer Arada has finally confirmed its entry into Dubai’s property market, acquiring a Dh240 million plot on the Palm to build a Dh1.5 billion luxury project. “This was the last beachfront location with Nakheel (Palm’s master-developer) and we were chosen from the many who were interested in the plot,” said Ahmed Alkhoshaibi, Group CEO of Arada, which is the...
Dubai: Dubai-based Sobha Realty closed sales of over $1 billion for 2021, helped by consistently expanding at its flagship development Hartland. “The real estate market in Dubai continues to scale new heights,” said P.N.C. Menon, founder and Chairman, Sobha Group. “Despite the pandemic, transactional activity has been high in the emirate. We are optimistic about the sector outlook in...
The real estate theme for 2021 was certainly the exponential rebounding of Dubai’s uber-luxury residential market, with Knight Frank previously reporting that in the ultra-prime bracket, the number of $10 million plus homes sold smashed the previous annual record set back in 2015. Unsurprisingly, the Palm, Emirates Hills and Jumeira Bay accounted for over three-quarters of super-prime sales in the...
As more information becomes available on the Dh30 million sub-renting affair with a holiday home in Dubai, it turns out the company did not have the permission to sub-rent the properties for one year in a majority of instances. And only a limited number of these properties were operated as holiday homes. Regardless, whether the property was sub-rented without permission or if the property was a...
