According to the Lumina Cross-Border Insights 2024 report, NEOM, the ambitious high-tech mega-city of Saudi Arabia’s Vision 2030 plan, is expected to become a major driver of foreign direct investment (FDI) and UK to Middle East investment in 2024. NEOM, which is expected to cost an incredible $500 billion, is currently in the process of building its first destination, Sindalah, which is expected to...

Soaring to exceed Dh 400 billion by the end of 2023. The Dubai real estate market witnessed an unprecedented surge in performance throughout 2023. Ahmad Ibrahim, CEO of Avalon Properties expressed astonishment at Dubai's remarkable market performance, soaring to exceed Dh400 billion in 2023 compared to Dh265 billion in 2022 in total sales. October 2023 set a new sales record, hitting Dh39 billion,...

Dubai's residential property market supply has been lagging behind population growth with the affordable segment also witnessing shortage after luxury in certain areas of the emirate. Industry executives say that supply will not be able to keep pace with the demand even in 2024 due to the high influx of foreigners and residents increasingly turning buyers amidst rising rentals. Around 50,000 new...

Property prices rally in Dubai will continue next year, but the pace will slow down compared to 2023, with a growth rate of up to 10 per cent projected on the back of strong demand from residents, investors and high-net-worth individuals. Analysts expect that the prime residential market will continue to drive the market, led by Jumeirah, Downtown, Palm Jumeirah and other high-end areas that have...