Last Month in Real Estate – UAE property news from December 2022

• Airbnb Announces an Exciting Avenue for Remote Workers 
• DAMAC Properties Launches a New Project in Dubai
• Al Habtoor Group Announces a New Project in Dubai
• DAMAC Reveals a Jungle-Inspired Project in Dubai Canal
• Luxe Developers Announces Their Flagship Project in RAK
• Union Properties Rolls Out a New Project in Dubai

As we enter 2023, it’s time to look at all the latest real estate developments that wrapped up the year 2022. Introducing many unique projects and exciting initiatives, December was a month of new opportunities. Let’s take a look at our round-up of the top UAE real estate news from December 2022.

TOP UAE REAL ESTATE NEWS FROM DECEMBER 2022

AIRBNB LAUNCHES A “LIVE AND WORK ANYWHERE” INITIATIVE IN DUBAI

The most exciting UAE real estate news in December 2022 came from Airbnb. The globally-recognised vacation rental company, in partnership with the Dubai Department of Economy and Tourism, introduced the “Live and Work Anywhere” initiative during the last month. The goal was to highlight how Dubai is a great fit for remote workers.

Under this programme, anyone planning to live and work in Dubai can find useful information on work-friendly stays, entry requirements and visa policies.

There are many perks to living and working in Dubai. Home to more than 200 nationalities, the city offers many networking and entrepreneurial opportunities. Some of the key benefits include 100% free foreign ownership (in specialised areas) for different industries. Around 74 countries are eligible for visas on arrival in Dubai. 

According to Issam Kazim, CEO of Dubai Corporation for Tourism and Commerce Marketing,

“Dubai’s global connectivity and pro-business ecosystem combined with visa-friendly reform have underlined the city’s status as a leading hub for remote workers, building on Dubai’s commitment to nurturing business growth and meeting the demands of today’s talent. The city is already home to over 200 nationalities that enjoy unrivalled career opportunities and lifestyle offerings. From world-class retail experiences to Michelin-starred restaurants and local cuisine, sandy beaches, theme parks and a cultural scene second to none, Dubai is yet again ready to welcome the world, this time in collaboration with Airbnb”. 

DAMAC PROPERTIES LAUNCHES A NEW RESIDENTIAL CLUSTER IN DUBAI

Our next piece of UAE real estate news comes from DAMAC Properties that has announced the launch of a new residential cluster in Dubai. Known as ‘Ibiza’, the new cluster will be located in the Mediterranean-inspired area, DAMAC Lagoons.

Built with the “Wonders of the Mediterranean” concept, Ibiza will feature 4 to 5-bedroom villas, as well as a Boho Lounge to offer exceptional Spanish cuisine.

Residents of Ibiza will get easy access to beautiful beaches, nightclubs and all other delightful comforts while living in the DAMAC Lagoons.

Talking about the project, DAMAC Properties’ Senior Vice President, Niall McLoughlin said:

“Ibiza is a continuation of our desire to set new benchmarks in contemporary, communal living. Our goal is to create a place where relaxation, serenity, and wonder are prioritized and can blend into residents’ lives.”

AL HABTOOR PLANS TO LAUNCH NEW RESIDENTIAL PROJECTS IN DUBAI

In other UAE real estate news, Al Habtoor Group’s founding chairman, Khalaf Ahmad Al Habtoor unveiled their plans of launching USD 2.6 billion (AED 9.5 billion) worth of residential projects in Dubai in 2023. 

The first project will be nestled in Al Habtoor City, including an attempt to construct the world’s largest residential towers. Costing AED 2.5 billion, the second project will be located in the Habtoor Grand Resort in JBR. 

Talking about the third project, Mr. Khalaf Ahmad Al Habtoor said: 

“It involves the re-development of the Habtoor Tower in Marina. The project worth $680.6 million (AED2.5 billion) will consist of replacing the existing Habtoor Tower with a much larger and ultra-luxurious residential tower in the heart of the Dubai Marina with magnificent unmatched views of the Marina”.

Each of these projects will feature exceptional amenities and breathtaking views of the Dubai skyline. This is one of the most exciting UAE real estate news from December 2022.

DAMAC PROPERTIES LAUNCHES A JUNGLE-INSPIRED PROJECT IN DUBAI CANAL

December 2022 saw another major real estate project launch in Dubai from DAMAC Properties. The real estate developer has launched an “Amazon jungle-inspired” called Cavalli Couture. Located along the Dubai Canal, the 14-storey building will feature 70 apartments, including 3 to 5-bedroom duplex penthouses and sky villas.

Each apartment will have an infinity pool and terrace garden offering scenic views of Burj Khalifa on one side and Burj Al Arab and Safa Park on the other. There will also be a gym, cigar lounge, spa, floating juice bar, tropical gardens, club rooms, a Cavalli-branded lobby and a lagoon drop-off area.

When asked about this luxury venture, Niall McLoughlin, Senior Vice President of DAMAC Properties said:

“There is a booming market for branded residences and DAMAC is at the forefront of this charge. As a respected property developer active in the formation of Dubai’s skyline since 2002, we have earned a reputation for delivering unique and quality luxury products, but also experiences. This is our way to boost our value proposition with our clientele and we have been hugely successful in this realm.”

LUXE DEVELOPERS ANNOUNCES AN LUXURY PROJECT IN RAK

A newcomer in the luxury property sector, Luxe Developers has also made it to our list of top UAE real estate news. The company plans to launch their flagship residential project in Ras Al Khaimah at a pre-launch ceremony in December.

According to Shubam Aggarwal and Siddharta Banerji, co-owners of The Luxe Developers, their ultra-luxurious flagship project will be launched on Marjan Island, opposite the upcoming Wynn Resort.

Known as “Oceano”, the project will have a functional architecture, with futuristic interiors and exteriors featuring asymmetric lines and a beautiful entrance. Technology will be at the heart of the community.

The developers will offer investors a chance to enjoy an island escape, with access to their own jetty and a private beach.

UNION PROPERTIES LAUNCHES A NEW PROJECT IN MOTOR CITY

In other UAE property news, Dubai-based developer, Union Properties has rolled out a new project in Motor City called “Takaya”. Worth around AED 1.6 billion, this will be a mixed-use development in Dubai. 

Construction of the project will start during the third quarter of 2023, with handovers commencing in the fourth quarter of 2025.

FAQS ABOUT UAE REAL ESTATE NEWS & MORE

WERE THERE ANY NEW PROPERTY LAUNCHED IN DUBAI IN DECEMBER 2022?

Here is a list of projects launched in Dubai in December 2022.

WHAT ARE THE MOST POPULAR AREAS TO LIVE IN DUBAI FOR PAKISTANI EXPATS?

Jumeirah Village Circle (JVC), Bur Dubai and International City are some of the most preferred areas to live in Dubai for Pakistani expats.

That ends the list of top UAE property news for December 2022. If you want to know updates from other months, dig into UAE real estate news segment for November 2022.

Alternatively, you can observe the real estate trends via our UAE property news bulletin for October 2022.

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