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Is Dubai becoming the ultimate destination for ultra-rich home buyers?
Knight Frank reports 190 luxury homes sold in Dubai, each over $10 million, with top areas Palm Jumeirah, Emirates Hills, and District One. Sales trends highlight personal use demand. Dubai, a tourism and trade hub, attracted 17.15 million visitors last year. Second-quarter sales of $25 million homes rose 25%.
This Indian city sees third highest jump in prime residential property prices in the world: Report
In Q1 2024, Mumbai led Indian cities with an 11.5% year-on-year increase in prime residential prices, ranking third globally in Knight Frank's Prime Global Cities Index. Delhi followed with a 10.5% rise, securing fifth place. Knight Frank attributed the surges to India's robust economic growth, with GDP exceeding 8% annually. 'Prime Global Cities Index' is a valuation-based index tracking the movement of prime residential prices across 46 cities worldwide.
Sobha Ltd aims Rs 10,000 crore increase in equity capital over next 5 years
After the Rs 2,000 crore rights issue, the company’s equity base will increase to Rs 4,500 crore. Earlier this year, the board of Sobha Ltd approved raising Rs 2,000 crore through a rights issue to increase the equity of the company and fund the growth.
How NRIs helping elevate India's realty play
According to developers and brokerage firms, the US, Singapore, the UAE, Australia and Saudi Arabia have emerged as big markets for them and they have dedicated teams to help buyers in selecting the projects. According to market sources, the country's biggest developer DLF in its last project Privana South in Gurugram, had achieved 25% share (about Rs 1,800 crore) in NRI sales. Overall, during fiscal year 2023-2024, sales from NRI investors surpassed Rs 3,400 crore for DLF, which is almost 20% of total sales.
UK court allows sale of Nirav Modi's luxury London flat
The case involves Trident Trust Company (Singapore) Pte Limited as the claimant, seeking to sell its apartment asset in the Marylebone area of central London, and the ED arguing that the trust's assets represent the proceeds of a massive fraud on the Punjab National Bank (PNB) for which Nirav is facing extradition proceedings.
Dubai’s ‘sustainable city’ was supposed to start a trend. It hasn’t yet
Seven years and 1.3 billion dirhams ($354 million) in construction costs later, only some parts of that claim have been realised.
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Mumbai records 3rd highest growth prime residential prices in December quarter
Mumbai's 10% price growth in the past 12 months driven primarily by affluent homebuyers looking for a lifestyle upgrade in the backdrop of a strong economic environment which continues to gain momentum.
Elvish Yadav doesn't own any luxury car, or flat in Dubai. Cars shown on videos are rented: Parents reveal shocking details
Elvish Yadav, winner of Bigg Boss OTT 2, faces judicial custody after his alleged involvement in a rave party incident, as per Noida Police. Contradicting earlier denials, Yadav admitted to organizing snake venom for events. His parents refuted rumors of his ownership of luxury cars and property, clarifying he rents vehicles for YouTube videos.
Dubai’s Golden Visas are helping the city defy global office slump
Dubai's economy is thriving as it attracts expatriates, expands business licenses, and experiences high demand for commercial real estate. From crypto investors to rich Indians looking for second homes, as well as young job seekers, the city's reforms and flexible residency rules have made it a desirable destination for individuals and businesses, leading to population growth and increased investment.
Justo Realfintech aims to grow portfolio nearly 3x in 2 years
Justo Realfintech plans to expand its sales portfolio to 8.5 million sq ft over the next two years, focusing on new markets like Hyderabad, Bengaluru, Andhra Pradesh, Karnataka, and Tamil Nadu. The expansion will also include key eastern Indian cities and international forays, starting with the Dubai property market. The company's current portfolio spans over 3 million sq ft and has sold over 8,500 apartments with 4.5 million sq ft of residential space across 80 projects.
71 % of India's wealthiest are keen to invest in luxury real estate: Report
71% Wealthy Indians express a desire to invest in luxury real estate in the next 12-24 months, finds India Sotheby’s International Realty’s annual survey.
Majority of Ultra HNIs buying luxury property for capital appreciation
According to the survey, there is a robust economic optimism among High-Net-Worth Individuals (HNIs) and Ultra High-Net-Worth Individuals (UHNIs), with a staggering 79% expressing confidence in the Indian economy's positive trajectory for 2023-24, compared to 59% last year.
Dubai sales of $25 million homes double as global elite move in
Demand for Dubai property is booming as the government’s handling of the pandemic and its liberal visa policies attract more foreigners. The luxury end of the market is also benefiting from an influx of investors such as Russians seeking to shield their assets, crypto millionaires, and rich Indians setting up second homes.
Dubai’s red-hot property market is bracing for a slowdown
So far, the boom has been underpinned by an influx of wealthy investors such as Russians seeking to shield their assets, crypto millionaires and rich Indians seeking second homes. The government’s handling of the pandemic and its liberal visa policies also attracted more foreign buyers.
Property prices hiked by 5.9% in Q3 in India, second-highest growth in Asia
With this robust growth in the last year, India climbed 18 spots to 14th rank in the index. Average annual price growth stood at 3.5%, according to Knight Frank Global House Price Index – Q3 2023. Several factors contributed to the rise in property prices including a pent-up demand, a desire to upgrade, and a willingness to spend more for better and modern amenities.
Global realtors woo buyers from India
“Business expansion, stable capital appreciation, currency diversification, efficient taxation and attractive rental yield, coupled with the aspirational quality of life and residency via investment in real estate prompt wealthy Indians to diversify their property holdings abroad,” said Akash Puri, director - international, India Sotheby's International Realty.
Dubai pools assets in new fund to invest abroad
The fund will have responsibility for investing government funds, surpluses and general reserves, the Office said in a statement, adding that it would focus on investments in stocks and bonds and explore prospects both domestic and foreign. "Dubai is on a much stronger fiscal footing," said Tarek Fadlallah, chief executive of Nomura Asset Management in the Middle East.
Real estate renaissance: Dubai developers eye India's booming property market
Dubai's real estate developers are actively expanding their presence and investments in India's flourishing property market.
S&P Global Ratings forecasts a moderation in Dubai's record property prices, projecting a potential easing by the end of next year. The rating agency suggests a slight reversal, estimating a decline of 5% to 10% over the next 12 to 18 months.
From coastal trading town to high-tech hub: Dubai’s transformation through entrepreneurial stories
Long-time business families, recent entrepreneurs and investors in Dubai share insights into the city's transformation, highlighting business opportunities and challenges.
Super rich Indians looking for second homes help Dubai cement status as world’s busiest luxury property market
The number of sales for homes valued at $10 million or more reached a record 277 in the first nine months of the year, totaling $4.91 bn. Dubai's property sector is thriving due to the government's handling of the pandemic and liberal visa policies, attracting foreign buyers. The city's Palm Jumeirah was the most popular area for wealthy buyers, accounting for over half of luxury sales.
Dubai's economy maintains momentum, GDP rises 2.8% in Q1 to cross $30 billion
Dubai's Q1 gross domestic product (GDP) rose by 2.8% YoY to AED 111.3bn ($30.3bn), propelled by a 48% growth in the transportation and storage sector, according to figures released on Tuesday. The financial and insurance sector and trade followed as the next largest contributors at 15% and 10% respectively. The growth comes as the city hopes to double the size of its economy over the next decade under its D33 plan to become a major global financial hub.
The Ultimate Guide to Investment Properties in Dubai: Tips, Trends and Opportunities
Want Dubai citizenship? Buying a property in UAE can be your solution
Various property-linked visas are available for expats in the UAE. The Golden Visa requires property ownership with a minimum equity value of Dh2 million, while the Property Investor Residence Visa demands an investment of either Dh750,000 or Dh1 million in registered property. The Retirement Visa, for those over 55 years of age, requires an investment in property worth AED 2 million, accumulated savings of AED 1 million, or a monthly income of AED 20,000.
Danube Properties' Dubai residential project sees huge demand from Indian buyers
Danube Properties plans to invest Rs 2000 crore to develop Elitz 2 at the Jumeirah Village Circle (JVC), Dubai. Indians remains one of the top buyers of properties in Dubai.
Homesfy forays into the international market with a new office in Dubai
Listed realty brokerage firm Homesfy has announced that it would foray into international market, with Dubai as its first office.
Rs 1 lakh per square foot: Dubai plot of sand sets new record
The 24,500-square-foot empty parcel is on the sought-after Jumeirah Bay Island, a seahorse-shaped piece of land accessible by bridge from the Dubai mainland. That works out to more than 5,000 dirhams per square foot, which the brokerage on the deal, Knight Frank, identified as a new high. The buyer, who doesn’t live in the United Arab Emirates, is planning to build a family vacation home on the property. His identity wasn’t disclosed.
Dubai’s luxury home market is booming as wealthy buyers flock to city
Demand for Dubai property is booming as the government’s handling of the pandemic and its liberal visa policies attract more foreign buyers. The luxury end of the emirate’s real-estate market is benefitting from an influx of wealthy investors such as Russians seeking to shield their assets, bankers fleeing strict Covid restrictions in Asia and rich Indians seeking second homes.
Dubai real estate sales surge 60% as investors, Russians snap up property
Dubai real estate sales surge 60% as investors, Russians snap up property
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