Last month in real estate – UAE property news from July 2023
- Launch of Helvetia Residences in JVC
- Aldar Launches a New Project on Yas Island
- A New Residential Project in Expo City
- Real Estate Development in Dubai for H1
We’re back again to offer you key insights into the world of UAE real estate. The month of July marked first half of 2023 with some exciting new projects launched all over the country. So, here’s your monthly scoop of real estate news in the UAE from July 2023.
REAL ESTATE NEWS IN THE UAE FROM JULY 2023
DHG PROPERTIES LAUNCHES ITS FIRST PROJECT IN DUBAI
The renowned Swiss developers, DHG properties has announced the launch of a new residential project, ‘Helvetia Residences’, in Jumeirah Village Circle (JVC). This is DHG’s first ever project in the UAE and they plan to kick-start the off-plan sales from September 2023.
The Founder and Director of DHG Properties said,
“Through our first development here, we will look to provide the same excellence that we have been providing across Europe for over 30 years and be a part of this prosperous city that continues to amaze us, especially throughout recent years.”
This Dubai real estate news came just in time with the ever-increasing demand for properties in the emirate.
ALDAR LAUNCHES BALGHAIYLAM IN YAS ISLAND
Another exciting UAE real estate news comes from Abu Dhabi – the launch of Balghaiylam, a new residential project in the northeast of Yas Island. His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council launched the project.
This real estate project is the result of a partnership between Aldar Properties and Abu Dhabi Housing Authority (ADHA). The AED 8 billion development is a part of government’s effort to develop sustainable and integrated community in the capital city.
Balghaiylam is expected to be completed in 2026 and will offer 3 to 6-bedroom villas. Here’s a quick overview of what will be offered at this new development.
- It will consist of 1,743 ready-built homes.
- The community will have schools, mosques, retail as well as F&B outlets.
- Sports centres, gardens and an equestrian centre will also be part of the neighbourhood.
A NEW RESIDENTIAL PROJECT IN EXPO CITY
Next on our list of real estate news in the UAE from July 2023 is the launch of Expo City’s latest residential project, Shamsa Townhouses. The community will be a collection of townhouses surrounded by lush greenery and urban farming.
This Expo City project aims to promote sustainable living and environmental preservation. The townhouses will come in the configurations of 3 and 4-bed units. Here’s a quick roundup of all the features you can expect.
- An open kitchen
- Maid’s room
- Powder room
- Master bathroom
- Basement big enough to park two vehicles.
Shamsa townhouses will be one of the greenest neighbourhoods in Dubai.
H1 IN DUBAI OBSERVED COMPLETION OF 9 REAL ESTATE PROJECTS
Month of July marked the completion of H1 and the in the first 6 months of 2023, nine real estate projects were completed in Dubai.
A total of 42,583 real estate units were registered in the emirate which add to the evolving portfolio of the city. These projects are worth more than AED 4.06 billion making Dubai one of the world’s leading real estate investment destinations.
The data from Dubai Land Department (DLD) shows that currently, more than 390 projects are being developed in the emirate.
FAQS ABOUT UAE REAL ESTATE NEWS JULY 2023
WHICH ARE THE MOST POPULAR AREAS TO BUY VILLAS IN DUBAI?
The top villas communities in Dubai include Mirdif, DAMAC Hills 2, Arabian Ranches and The Springs.
ARE THER ANY FREEHOLD AREAS IN DUBAI?
Yes, there are a number of freehold areas in Dubai with apartments and villas. For flats, you can consider Arjan, Downtown Dubai and Bluewaters Island. Whereas if you want to invest in a villa, you can consider All Barari, Al Furjan and DAMAC Hills.
WHERE CAN I RENT AFFORDABLE APARTMENTS IN ABU DHABI?
Khalifa City, Al Wahdah, Al Mushrif, Madinat Al Riyadh and Al Ghadeer are the top areas with affordable apartments in Abu Dhabi.
And that is all for the real estate news in the UAE from July 2023. The first half of this year observed quite a progress in terms of residential projects. A number of top developers in Dubai are launching opulent projects to offer the residents luxurious lifestyle.
Want to invest in the golden city? Dubai Marina, Downtown Dubai, Jumeirah Lake Towers (JLT,) Dubai Silicon Oasis and International City are some of the best areas for investment in Dubai. These areas offer really good ROIs.
