Dubai's luxury real estate market continued to attract strong investment in May, with developers recording almost AED5 billion ($1.36 billion) in off-plan sales for homes priced above AED5 million.
Dubai Municipality has selected preferred bidders for the first two packages of its AED80 billion ($22 billion) Dubai Strategic Sewerage Tunnels (DSST) project, said a report. The project scope includes construction of deep sewer tunnels linked to treatment units at Warsan and Jebel Ali, as well as laying of 200km of sewer links.
UAE-based AHS Properties has announced that it has entered into a deal with Mismak Asset Management to acquire the 43-floor Shangri-La Hotel in Dubai for AED1.1 billion ($300 million) in one of the largest single-asset real estate transactions recorded in recent history. The 200-m property is located on Sheikh Zayed Road.
McG’s by McGettigan’s Al Barsha, a favourite neighbourhood hangout in Dubai, has launched McG’s Inner Circle, a new membership programme offering a range of exclusive lifestyle benefits and experiences.
National Industries Park (NIP) has signed an agreement with Al Bayader International to develop a AED180 million ($50 million) integrated manufacturing and logistics hub in Dubai, expanding regional food packaging production capacity by up to 30,000 tonnes annually.
Majestic Hotels, one of Dubai's most trusted hospitality groups, has announced the grand opening of its fourth property, Majestic Central Hotel, a contemporary 3-star hotel offering 68 well-appointed keys in a prime, transit-connected location in Dubai.
Positron AI, a US-based developer of next-generation specialised AI inference infrastructure, has established its first presence outside the country in the Dubai International Financial Centre (DIFC)), the leading global financial centre in the Middle East and Africa region.
Dubai’s property market is showing early signs of stabilisation approximately 67 days into the regional conflict, according to betterhomes’ latest monthly market webinar held on Thursday (May 7).
Dubai homeowners are now holding their properties for as long as Londoners and New Yorkers, according to a new study of more than 1.1 million transactions spanning the last 16 years.
Gulf Land Property Developers has completed a bulk transaction valued at AED150 million ($40.84 million) for 41 units at Tonino Lamborghini Residences Dubai, underscoring continued investor confidence in Dubai’s real estate market despite softer sentiment across parts of the wider region.
