Latest Dubai Real Estate Market News & Updates: Dec 23 - 29, 2017

Each week, we take a look back at the biggest bits of Dubai real estate news from the past seven days so that you don’t have to! Although 2018 may be winding to a close and people are on well deserved holidays, that doesn’t mean that the news has to stop.

Here’s a quick look at some of the latest news from Dubai’s property market over the last seven days:

Bayut.com releases our 2017 market report

At Bayut.com, we have incredibly unique access not only to real estate listings but to our users’ behaviour when interacting with these listings. This has allowed us deep insight into Dubai’s property market, from popular areas to price trends and more. After all, according to CEO of Bayut.com, Haider Ali Khan, said: “At Bayut.com, our goal is to place extensive data-based reports and area guides at the fore of all UAE house hunting intelligence to help renters and investors alike make sound real estate decisions.”

These insights and findings can be read in our 2017, year on year market report.

DLD completes phase 1 of building classification survey

As of now, most of the non-freehold plots in Dubai are located in Deira

The Dubai Land Department has surveyed over 80,000 plots in Dubai that are classed as non-freehold and will now analyse the data collected to determine the use of those plots. This mammoth task is only Phase 1 of the Building Classification Survey project conducted by the DLD and took nearly two years to complete. According to Mohammad Al Dah, Director of the Land Department, “Our databases will need to be updated with all of the new data that has come flooding in. In the process, we have added over 400,000 units to the database.”

He went on to say that “We were quite surprised to learn that the split between freehold and non-freehold is actually 50:50. We were thinking that freehold would dominate, even to the extent of 70:30. But that was not the case.”

The report revealed that the majority of non-freehold plots are in Deira, one of the city’s most high-density locales.

downtown jebel ali master development finishes zone 2 infrastructure

The Jebel Ali metro station sign — Downtown Jebel Ali is progressing at a good pace.

The Downtown Jebel Ali development by Limitless has completed its Zone 2 infrastructure and DEWA has been handed over the first substation. According to the Dubai Media Office, Zone 4 of the 200-hectare multipurpose project has been completed by 90%, while Zone 3 only has 30% remaining. The finished development will add apartments, hotels, shops and offices to property in Dubai – with several already under construction or operational.

When talking about the project, Ali Rashid Lootah, Chairman of Limitless, said: “Downtown Jebel Ali has seen major progress in the last few months, and these new milestones reinforce our commitment to the investors who share our vision for our flagship master community. 2017 has been a highly successful year for Limitless, and we look forward to even greater achievements in 2018 and beyond.”

dubai frame opening date revealed

The much-anticipated Dubai Frame, located in Zabeel Park, is due to open on 1 January 2018 according to Hussain Nasser Lootah, Director General of Dubai Municipality. The rectangular structure is 150m high and 93m across, and will quite literally frame both old and new Dubai – Umm Hurair, Karama and Deira can be seen through one side while icons of new Dubai like Burj Khalifa and Emirates are viewed through the other side.

Open from 10am to 7pm, the Dubai Frame will house two galleries in addition to the Sky Deck and will cost AED 50 for adults, AED 20 for three to 12-year-olds, free for under threes, the elderly and people of determination.

Design for new building in al furjan revealed

the new building in Al Furjan — The design that was revealed on Thursday. Image Credit: RAW-NYC

One of Dubai’s leading architectural firms, RAW-NYC, has revealed their design destined for a new skyscraper tower located in Al Furjan. The residential tower will be home to 140 apartments ranging from one and three bedrooms. Spanning 21 stories with retail outlets located on the ground floor, the RAW-WRAP (the project’s nickname) Amenities will cover the building until the fifth floor, with a Reflection Fountain, Sunrise Steps, Kids’ Pool, Sunset Pool, gardens and more – like a theater, playground, community center, outdoor gym and yoga spaces.

The tower and RAW-WRAP are sure to be a major hit amongst investors and residents alike as it is both modest yet intelligent in its design approach – sure to be affordable luxury at its best.

That’s all from us! If you need more of a real estate fix, have a gander at some of the most popular listings on Bayut.com over the past year…or look ahead at some of the areas that you could consider renting a villa in 2018.

And for the last time in 2017, we hope you have a fantastic Friday!

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