UAE real estate news from the month of December 2024
- DLD Launches Smart Rental Index
- New Opportunities by the AJBWC
- Ajman Reaches AED 598M in Transactions
- DLD Celebrates Real Estate Broker Graduates
- IDB Made Trustee of Escrow Account
- FAQs
We’re excited to bring you our monthly updates, focusing on the UAE real estate news from December 2024! The year’s final month truly showcased a flourishing sector, marked by record transactions, key agreements and the graduation of new real estate brokers. Let’s dive into the highlights and explore the incredible opportunities that emerged this past month!
UAE Real Estate News December 2024
DLD launches revolutionary Smart Rental Index
In Dubai real estate news, the Dubai Land Department announced the launch of its new Smart Rental Index. The system leverages real-time data and the latest technology to help landlords, investors and tenants make more informed decisions, enhancing transparency in the emirate’s real estate sector. The index integrates collected real estate expertise and modern technologies that accommodate the needs of all industry stakeholders. The move aligns with Dubai’s digital transformation and sustainability wave, supporting the Dubai Real Estate Strategy 2033.
AJBWC Discusses Opportunities in Real Estate
The Ajman Business Women Council (AJBWC) held a “Your Journey to Wealth: Your Success Story” session to raise awareness about property investment opportunities. The session aimed to enhance real estate skills and encourage women’s participation in the growing industry.
The workshop, which consisted of 45 participants, including government employees, members of the AJBWC, and female business owners, was held at the Fairmont Ajman Hotel. It featured working papers by the Emirates Association for Women Entrepreneurs, the Department of Land and Real Estate Regulation in Ajman, the Baytukum platform and the Emirates Association for Women Entrepreneurs (EAWE).
Real Estate Valuation in Ajman reached AED 598M
Here’s some more interesting UAE real estate news. The Department of Land and Real Estate Regulation in Ajman recorded 173 property transactions in November 2024 worth AED 598M. Compared to the same period last year, this signified an uptick of 88%. The valuation covered residential, commercial and industrial properties in the emirate. As per the department’s Director-General, the November valuation included those for long-term Golden Visas for investors, totalling around AED 494M.
DLD Celebrates New Real Estate Broker Graduates
The Dubai Land Department (DLD) recently celebrated a new batch of real estate brokers in a graduation ceremony in Abu Dhabi. The ceremony was done in collaboration with ThinkProp Institute as part of the Real Estate Brokers Programme.
Around 500 brokers completed the programme. The event was attended by distinguished leaders in the country’s real estate, such as the Director General of the DLD, His Excellency Eng. Marwan Ahmed Bin Ghalita.
International Development Bank Made Trustee of Escrow Account
The DLD has appointed the International Development Bank (IDB) as the trustee for the escrow account dedicated to property development projects in Dubai.
The agreement was signed by Hani Idris, CEO of the IDB, and Mohammed Ali Al-Badawi, Acting CEO of the Real Estate Regulatory Agency (RERA). According to the DLD, the purpose of the escrow account is to guarantee investor rights and regulate developments. All developers are responsible for opening escrow accounts.
Real Estate Transactions in Sharjah Peaked at AED 4 billion in November
In other UAE property news 2024, real estate transactions in Sharjah reached a record AED 4 billion during November 2024, with 4,606 transactions in total. The total area of sales covered is 20.4 million sq. ft. The Sharjah Real Estate Registration Department provided the statistical data. Mortgage transactions, representing 7.4% of the total, reached 339, valued at AED 668M.
Among the areas, Muwailih Commercial had the highest sales, with 161 transactions.
FAQs
Which are the best off-plan projects in Dubai?
The top off-plan projects in Dubai are Six Senses Dubai Marina and Binghatti Skyrise, to name a few.
Where can I find an apartment that fits my budget in Dubai?
To make your search easier and more informed, focus on the best areas to rent in Dubai based on salary.
That concludes our coverage of UAE real estate news December 2024. Stay tuned to MyBayut for more updates on the latest happenings in the UAE property sector and beyond.
