A roundup of UAE real estate news from the month of June 2024
- Bayut Launches TruEstimate
- NB Collection on Hayat Island Unveiled
- Qube Enters Dubai
- Unveiling of Samana Ivy Gardens 2
- Luxe Becomes The First Developer to Offer Golden Visa in RAK
- FAQs
In June 2024, the UAE real estate market saw several notable developments. From key projects by renowned property developers to the launch of Bayut’s property valuation AI tool, we bring you the latest UAE real estate news.
TOP UAE REAL ESTATE NEWS
Overall, the UAE real estate market in June 2024 showed strong performance, significant investments and a continued focus on sustainability and luxury developments.
Here’s a look at the highlights from the last month.
BAYUT LAUNCHES TRUESTIMATE
In exciting UAE real estate news, Bayut launched a property valuation tool, TruEstimate. This groundbreaking AI tool integrates data from the Dubai Land Department (DLD) and offers a smart property estimation solution to equip users with data-driven insights.
The introduction of TruEstimate is part of Dubai’s Service 360 policy that aims to streamline service delivery. The CEO of Bayut and Head of Dubizzle Group MENA, Haider Ali Khan, said:
“We’re excited to introduce TruEstimate™ as the latest in our suite of data-driven tools and resources. Since day one, Bayut has prioritised data for creating more transparency and helping consumers make more informed decision-making.”
TruEstimate uses historical fluctuations, benchmark asking prices and potential purchases to give you the current market property valuation.
Users can input property details such as Oqood Contract, DEWA number, Unit Number or Title Deed to evaluate a property. Once the user puts in the relevant data, the platform will generate a brief report.
RAK PROPERTIES LAUNCHES NB COLLECTION ON HAYAT ISLAND
Next on our list of UAE real estate news from June 2024 is the launch of the NB Collection by RAK Properties in Mina Al Arab. The high-end beachfront villas will be based on Hayat Island. The 11 villas will boast contemporary architectural flair and elegant designs.
QUBE TO DEVELOP AED 2.6B PROPERTY PORTFOLIO IN DUBAI
The next Dubai real estate news is key to boosting the city’s ever-growing real estate sector. QUBE Development announced a property portfolio worth AED 2.6B ($680.6M) in Dubai. The company aims to set new benchmarks for high-quality and sustainable projects in the emirate. Qube has acquired 623,354 sq. ft. of land in the city and plans to expand its holdings by the end of 2025.
SAMANA IVY GARDENS 2 UNVEILED IN DUBAILAND
In other Dubai real estate news from June 2024, Samana Developers unveiled Samana Ivy Gardens 2. The AED 855M project is based in the Dubai Land Residence Complex. Spanning 1.5 million sq. ft., the 843-unit residential development will feature top-notch amenities such as private pools, a gym, a steam and sauna room, a jogging track and a basketball court.
- 1 BED
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- 1 BATH
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- 783 SQFT
- 2 BEDS
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- 3 BATHS
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- 1185 SQFT
- 1 BED
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- 2 BATHS
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- 794 SQFT
- STUDIO
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- 1 BATH
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- 682 SQFT
- 2 BEDS
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- 3 BATHS
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- 1179 SQFT
Samana Ivy Gardens 2 will boast an energy-efficient and climate-resilient design. An entire floor will be dedicated to Sky Garden. Besides residential flats, the tower will have 8 retail units on the ground floor. It is expected to be completed in the last quarter of 2027.
THE LUXE DEVELOPERS BECOMES FIRST DEVELOPER TO OFFER GOLDEN VISA IN RAK
The UAE-based real estate development company, Luxe Developers, achieved a significant milestone last month. They became the first developer in the northern emirate to offer Golden Visa. Investing in their luxury offering, Oceano on Marjan Island will allow the investors to secure the UAE Golden Visa.
Properties in Oceano, Celeste and Stellar, are valued at over AED 90M – making them the most expensive homes to go on sale in RAK. Given this, it is obvious that the residents here will enjoy an array of ultra-luxurious facilities such as a hammam, spa, private pools, snow room, state-of-the-art gym, home theatre and much more.
FAQS ABOUT UAE REAL ESTATE NEWS
WHICH ARE THE POPULAR VILLA COMMUNITIES IN DUBAI?
Arabian Ranches, The Springs, Dubai Hills Estate and DAMAC Hills 2 are some of Dubai’s most popular villa communities for 2024.
Bayut’s Dubai Sale Transactions page offers a detailed index of real estate transaction data from the Dubai Land Department, including property sales history, annual sales volume and area-specific transactional values. This resource enables you to make informed decisions by comparing advertised prices with actual transactional prices for properties of interest.
WHICH AREAS IN DUBAI ARE POPULAR FOR APARTMENT LIVING?
Jumeirah Village Circle (JVC), Business Bay, Downtown Dubai, Dubai Silicon Oasis (DSO) and Dubai Hills Estate are the most popular areas with family apartments in Dubai.
That concludes our list of UAE real estate news from June 2024. If you’re relocating to Dubai, our guide will help you decide whether to rent or buy a property in Dubai.
