UAE Real Estate News Updates From August 2019

It’s once again time to round up the major UAE real estate news updates from the previous month. This time we take a comprehensive look around the UAE to see how the real estate market is progressing. Read on for more details on the top stories from the UAE property market news 2019.

UAE REAL ESTATE NEWS UPDATES FOR AUGUST 2019

Here are all the UAE property market news updates from the month of August 2019.

Construction of various Expo 2020 pavillions begin

As we inch closer to the Expo 2020, all updates relating to it have been dominating the UAE real estate news sector in 2019. In August 2019, the Indian, Finnish and Japanese pavillions broke ground and began construction. These pavilions are expected to be completed a few months before the Expo launches in Dubai.

The Indian Pavillion, which will be located in the Opportunity District will be four-storeys tall and showcase India’s strengths in innovation and start-ups. On the other hand, the Finish Pavillion, which is being built by Cimolai Middle East will be fashioned like a snow-covered tent, with designs that are inspired by Finnish nature and innovation. As for the Japan Pavilion, it is said to feature a 3D facade that features Japanese Origami shapes and also incorporates Arabesque elements to represent the history and connections between Japan and the Middle East.

To more about all the other pavilion at the Expo 2020 site, check out our feature on best Expo 2020 Pavilions.

Nakheel launches ready villas in the Nad Al Sheba community

The next major real estate news in the UAE in Agust 2019 came from leading property developer Nakheel. The Dubai-based developer Nakheel announced that a new set of ready villas in the Nad Al Sheba community are available for sale.

The new development which is is situated just off Sheikh Mohammed Bin Zayed Road is a new gated community in the area. It features Mediterranean and Moroccan-style villas that come with spacious private gardens and expansive outdoor terraces. Some of the community’s amenities and recreational facilities are still under construction, but once complete, the community will have about 5 km of cycling and jogging tracks as well as community clubhouses, restaurants, a pool, gym and sports courts.

Bloom Properties initiates handover of units in Park View development on Saadiyat Island

Another important update for UAE real estate news 2019 comes from developer Bloom Properties. They announced that a total of 234 residential apartments are in the process of being delivered. The apartments for sale in Park View range from studios to three-bedroom units.

The Park View development, which is on Saadiyat island offers its residents easy access to several tourist destinations including the exhibits at Louvre Abu Dhabi and the Cultural District. It’s also a short drive away from all the attractions on Yas Island.

Commenting on this announcement, Jeremy Lester, acting CEO of Bloom Holding said “The handover of the Park View development is an important milestone for us in 2019. It shows our ongoing commitment to creating integrated and sustainable communities for the benefit of our investors and residents. With its great location, we believe Park View will become one of the most popular addresses for people looking to live close to both the city of Abu Dhabi and the leisure options of Saadiyat and Yas Island. We look forward to welcoming our new owners and tenants to their homes.”

Abu Dhabi City Municipality begins Corniche Road revamp project

Abu Corniche jogging track is one of the best jogging — The revamp of the Abu Dhabi Corniche is an important piece of property news in the UAE

The final UAE real estate news update we have is from the Abu Dhabi property market. The Abu Dhabi City Municipality (ADCM) has announced that construction is underway to redevelop the Corniche Road in Abu Dhabi.

The Abu Dhabi Corniche Road is a key destination for residents and tourists. It is known for hosting official celebrations, events and exhibitions. It is also one of the most popular places to rent apartments in Abu Dhabi. This revamp will be divided into two phases and is set to finish before the UAE National Day celebrations in December.

In addition to the revamp of the Corniche road, the Al Ain City Municipality (AAM) and Abu Dhabi General Services Company (Musanada) has also begun work on a project to transform the Al Markhaniya roundabout to a traffic signal intersection and converting Asharej to a tunnel.

That concludes this roundup of the major UAE real estate news updates in August 2019. Now that you are caught up with all the UAE property news, why not check out this list of things to in Dubai to plan your next weekend activity.