Real Estate Insights & Tips

Top 10 Nationalities Investing in Dubai’s Real Estate Market: A Global Perspective
31 Dec, 2024
Top 10 Nationalities Investing in Dubai’s Real Estate Market: A Global Perspective

Dubai, a glittering gem at the crossroads of Asia, Africa, and Europe, is a beacon for international trade, tourism, and investment. With its iconic skyline, luxurious lifestyle, and business-friendly policies, it has become a magnet for property investors from around the globe. The city's multicultural allure, coupled with its booming economy and world-class infrastructure, continues to attract a diverse array of nationalities eager to capitalize on its opportunities. In this article, we explore the top 10 nationalities that consistently invest in Dubai's real estate market and other industries, contributing to its dynamic and thriving economy. 1. India India tops the list as one of the most prominent investors in Dubai. The strong cultural and economic ties between the UAE and India have fostered a thriving relationship, with Indian nationals investing heavily in real estate, trade, and technology. Indian investors are particularly drawn to Dubai's real estate market due to its high rental yields, premium lifestyle offerings, and easy access to luxurious residential and commercial properties. With a significant Indian expatriate community in Dubai, their investments further enrich the multicultural fabric of the city.   2. United Kingdom British investors have long been key players in Dubai’s real estate and hospitality sectors. Dubai’s stable economy, favorable taxation policies, and luxurious lifestyle appeal to UK nationals seeking profitable investments and a warm escape from colder climates. From high-end apartments in Downtown Dubai to sprawling villas in Palm Jumeirah, UK investors continue to secure prime properties that promise excellent returns. Additionally, their interest extends to luxury hotels and retail projects, cementing their influence in Dubai’s economy.   3. China China’s global economic influence extends to Dubai, with Chinese investors heavily involved in infrastructure, real estate, and smart city initiatives. Their contributions to Dubai’s skyline, including iconic skyscrapers and residential complexes, are testament to their commitment to shaping the city’s future. The growing partnership between Dubai and China also sees investments in retail, trade, and technology, as both nations work to strengthen their economic ties.   4. Russia Dubai’s luxury lifestyle, strategic location, and favorable taxation policies make it a top destination for Russian investors. Their contributions span across real estate, tourism, and financial services, further diversifying the city’s investment portfolio. From waterfront villas in Dubai Marina to luxury penthouses in Business Bay, Russian investors prioritize properties that offer exclusivity and elegance. Additionally, their presence in Dubai’s banking sector highlights their confidence in the city’s financial stability.   5. Iran Proximity and historical ties make Iran a significant player in Dubai’s investment landscape. Iranian investors are heavily involved in trade, particularly import and export businesses, leveraging Dubai’s strategic location as a global trading hub. Beyond trade, Iranians also invest in luxury real estate, high-end hotels, and restaurants, contributing to Dubai’s status as a global tourist and hospitality destination.   6. Saudi Arabia As Dubai’s close neighbor, Saudi Arabia shares strong cultural and economic connections with the UAE. Saudi investors focus on multiple sectors, including real estate, energy, and entertainment. Their investments in oil and gas projects, theme parks, and media ventures underline their commitment to Dubai’s growth. The city’s premium real estate offerings also attract Saudis seeking luxurious homes and commercial spaces.   7. Pakistan Pakistan has emerged as a significant contributor to Dubai’s construction and trade sectors. Pakistani investors have played a vital role in developing high-rise projects and importing/exporting goods through Dubai’s ports. With attractive residency options like the UAE Golden Visa, Pakistani interest in Dubai’s real estate market has grown significantly, cementing their place among the top investors in the city.   8. Turkey Turkish investors have introduced their rich culture and craftsmanship to Dubai through retail and construction projects. Their involvement in building luxurious residential and commercial properties showcases their expertise in architecture and design. Additionally, Turkey’s influence extends to Dubai’s hospitality and tourism sectors, with investments in travel agencies, hotels, and cultural exchanges enriching the city’s offerings.   9. Germany Known for its engineering and innovation, Germany’s investments in Dubai focus on high-tech infrastructure and research collaborations. German companies have contributed to cutting-edge projects in transportation, energy, and smart city developments. The automotive sector, a hallmark of German expertise, also sees significant investments in Dubai, with partnerships fostering advancements in electric and autonomous vehicles.   10. United States As a global economic powerhouse, the United States maintains a strong presence in Dubai through investments in luxury real estate, technology, and hospitality. American investors are key players in developing premium residential communities and multi-hotel chains in the city. Dubai’s vibrant economy and business-friendly policies continue to attract U.S.-based companies, further enhancing the city’s global appeal.   Why Choose Dubai for Property Investment? Dubai’s appeal as an investment hub lies in its: High Rental Yields: Investors benefit from lucrative rental returns in prime locations. Strategic Location: Serving as a bridge between continents, Dubai offers unmatched connectivity. Tax Benefits: Zero property taxes and relaxed regulations attract global investors. World-Class Lifestyle: Iconic landmarks, luxury shopping, and cultural diversity make Dubai a desirable destination.     Home Lounge Real Estate Brokers LLC: Your Trusted Partner At Home Lounge Real Estate Brokers LLC, we specialize in guiding investors from around the globe to find their ideal property in Dubai. As a RERA-registered company, we prioritize professionalism, transparency, and client satisfaction. Whether you're looking for a luxurious apartment in Dubai Marina or a commercial property in Business Bay, our team is dedicated to meeting your unique investment goals.   ? Contact us today at +971 50 785 1492 or ? email us at sales@homeloungeuae.com to explore Dubai’s finest real estate opportunities.   FAQs: Investing in Dubai 1. Is Dubai a good place to invest in property? Yes, Dubai offers high rental yields, advanced infrastructure, and long-term residency options, making it an excellent investment destination. 2. Why is Dubai popular among foreign investors? Dubai’s stable economy, relaxed taxation, and diverse industries attract global investors seeking profitable opportunities. 3. Which nationality invests the most in Dubai? Indians are among the top investors in Dubai, with significant investments in real estate and trade sectors. 4. How can I invest in Dubai from abroad? To invest in Dubai, research the market, find a reliable developer, hire an authorized agent, and register your property with the Dubai Land Department (DLD). 5. How does Dubai ensure investment security? Dubai’s transparent legal framework and international treaties safeguard foreign investments, ensuring a secure and fair process.       Invest confidently in Dubai's thriving market with the expert guidance of Home Lounge Real Estate Brokers LLC by your side every step of the way!  

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Unstoppable? Dubai’s Property Market Growth Accelerating in 2024
21 Nov, 2024
Unstoppable? Dubai’s Property Market Growth Accelerating in 2024

Dubai’s real estate sector is booming in 2024, with strong sales figures, rising property values, and a swift absorption of new inventory driving expansion. This growth momentum is poised to carry into 2025, thanks to high demand across multiple sectors, an influx of new properties in Dubai, and the adoption of advanced technologies.   Market Performance and Trends Dubai’s real estate market is on track for a record-breaking year in 2024. Sales in July alone reached AED49.6 billion ($13.5 billion), a 31.63% increase from the previous year. The luxury segment, especially in sought-after areas like Palm Jumeirah, is thriving. More than 43,000 transactions valued at approximately AED122.9 billion took place in the first half of the year, marking a 30% rise from 2023, a reflection of high demand and rapid inventory absorption.   Supply Surge and Its Implications As Dubai continues its growth trajectory, an influx of new properties in Dubai is expected. Around 27,000 units are projected for 2024, with an additional 41,000 units in 2025 and 42,000 in 2026. This increase—an 80% rise compared to previous years—provides a unique opportunity for buyers and investors, although it could lead to price stabilization or slight declines in some segments. Dubai’s resilience, backed by investor confidence and strategic urban planning, is expected to absorb most of this supply.   Investment Opportunities and Strategic Timing Investors eyeing Dubai’s property market in 2024/2025 have ample opportunities. High-net-worth individuals are drawn to luxury properties in Palm Jumeirah and Downtown Dubai. Meanwhile, mid-tier segments in areas like Dubai Silicon Oasis and Jumeirah Village Circle (JVC) are attracting investors for their high rental yields, making real estate in Dubai a profitable venture across various income levels.   Technology Integration and Proptech Growth Dubai’s real estate agents are leveraging technology to transform the buying experience. From AI-driven market analyses to virtual tours and 3D floor plans, proptech is streamlining processes, making property transactions more efficient. These advancements make Dubai a global leader in real estate innovation, and this trend is likely to expand as technology continues to enhance transparency and accessibility.   Challenges and Market Dynamics Despite its positive outlook, Dubai’s property market faces potential challenges, including the risk of oversupply and a slight pressure on rental prices. Prime development land in central areas is becoming scarce, prompting a shift toward more sustainable strategies beyond 2026. This forward-thinking approach is expected to foster stability, solidifying Dubai’s status as a premier real estate investment destination.   Trends for Renting Properties in Dubai For those interested in properties in Dubai as rental investments, certain areas stand out for their impressive rental yields. For affordable apartments, Dubai Investments Park (DIP) and Discovery Gardens offer returns of up to 11%, making them top choices. Mid-tier locations like Dubai Sports City and Motor City also boast rental yields of over 9%, while luxury neighborhoods such as DAMAC Hills yield close to 9%.   Bayut’s recent analysis also reveals favorable ROI for buy-to-let villas, with International City offering over 7% returns. Areas like DAMAC Hills 2 and Wasl Gate provide ROI percentages above 6%, with mid-tier villas in Jumeirah Village Triangle and Jumeirah Village Circle (JVC) yielding between 6% and 8%. In the luxury villa market, communities like The Sustainable City and Tilal Al Ghaf have gained popularity, with ROIs exceeding 7%.   Surge in Rental Prices Rental prices across Dubai have surged. Affordable villa and apartment rentals have increased by 4% to 31%, with studios in Al Nahda witnessing the most significant rise. Mid-tier apartment rentals have climbed up to 15%, and luxury apartments by 7%, with only a few exceptions, like Business Bay, where prices dipped slightly.   For villa rentals, budget options have risen by up to 12%, while mid-tier rentals saw increases of 15%. DAMAC Hills experienced the highest growth in luxury villa rentals, with limited six-bedroom units seeing a 27% rise. For affordable living, Deira and Al Nahda remain popular for apartments, while DAMAC Hills 2 and Mirdif attract villa tenants. In the luxury rental category, Dubai Marina and Business Bay are favored for apartments, while Dubai Hills Estate and Al Barsha draw villa seekers.   Who’s Investing in Dubai? Dubai’s real estate sector has become a magnet for international investors. Data from W Capital reveals that British investors were the top buyers in the first half of 2024, followed by investors from India, China, Lebanon, Canada, France, Italy, the Netherlands, Pakistan, and Turkey. The city’s high rental yields, accessible financing options, and residency visa programs have turned property ownership into a strategic alternative to renting.   Home Lounge UAE: The Premier Real Estate Partner As a premier real estate agent in Dubai, Home Lounge UAE provides top-notch services to clients looking to invest in this dynamic market. A RERA-registered firm, Home Lounge has earned a reputation for excellence, assisting clients with both residential and commercial properties in Dubai. Known for innovation and a client-centric approach, Home Lounge redefines real estate services in the UAE, offering clients access to high-return real estate in Dubai.  

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Dubai Real Estate in 2024: What Buyers, Investors, and Renters Need to Know
13 Nov, 2024
Dubai Real Estate in 2024: What Buyers, Investors, and Renters Need to Know

Dubai’s real estate market is set for continued growth and transformation in 2024, with trends indicating a dynamic landscape that caters to both luxury and affordable housing demands. In recent years, Dubai has seen unprecedented transaction levels and rental price increases. Experts project a steady continuation of these trends, with short-term rentals expected to rise by 20% and long-term rentals by 15%. Here’s an in-depth look at the key trends and projections for real estate projects in Dubai market for 2024: 1. Rise of Luxury Developments: Dubai’s luxury real estate continues to thrive, attracting high-net-worth individuals with exclusive properties like penthouses and beachfront villas in communities such as Palm Jumeirah and Downtown Dubai. Developers are integrating world-class amenities, including smart technology, private pools, and concierge services, to cater to discerning buyers. These developments promise a unique blend of opulence, comfort, and advanced technology. 2. Sustainability at the Forefront: Sustainable building practices are reshaping Dubai’s real estate sector, supported by the UAE’s Net Zero by 2050 initiative. Developers are increasingly focusing on eco-friendly materials, energy efficiency, and green spaces. Notable areas like Dubai South and Dubai Creek Harbour are spearheading these initiatives, attracting environmentally conscious buyers who prioritize sustainability. 3. Demand for Affordable Housing: The need for affordable housing is rising as Dubai’s population grows. New developments in emerging areas like Dubai South and MBR City aim to offer quality, reasonably priced housing options for middle-income families and young professionals, ensuring the city remains accessible to a broader audience. 4. Booming Villa Communities: Villa communities, popular among families seeking privacy and space, are witnessing significant growth. Neighborhoods such as Arabian Ranches and Damac Hills 2 provide large, comfortable homes with ample community amenities. These developments appeal to those looking for suburban-style living with easy access to city conveniences. 5. Innovations in PropTech: PropTech is transforming how properties are marketed and managed. With features like virtual tours, AI-driven market insights, and platforms such as Property Finder, buyers and sellers have access to more transparent and reliable data than ever before. In 2024, technology will play an even bigger role in simplifying the real estate process, with virtual viewing tools and smart home technology continuing to be in high demand. 6. Short-Term Rental Surge: Short-term rentals are becoming increasingly popular, especially with the rise of platforms like Airbnb. This market is appealing for investors due to high rental yields and the constant demand from tourists and business travelers. Popular areas for short-term rentals include Downtown Dubai, JBR, and Marina, which are central and offer easy access to attractions and business hubs. 7. Growth in Off-Plan Investments Off-plan properties offer a lower entry cost and the potential for capital appreciation, making them a popular investment option. Areas like Emaar Beachfront and Dubai Creek Harbour are among the most sought-after for off-plan investments, with developers offering flexible payment plans to attract buyers. 8. Foreign Investment and the Golden Visa The UAE’s Golden Visa program, which offers long-term residency for property investors, is fueling international interest in Dubai’s real estate. This initiative, along with Dubai’s strategic location and favorable tax policies, continues to attract foreign investors, particularly from China, India, and the UK. 9. Demand for Commercial Real Estate As Dubai grows as a business hub, there is a renewed demand for commercial spaces. Business Bay, DIFC, and Dubai Silicon Oasis are seeing increased interest from global companies and startups. These areas provide the ideal infrastructure for businesses to establish a presence in Dubai’s strategic market. 10. Expansion of Mixed-Use Developments Mixed-use developments like City Walk and Bluewaters Island combine residential, commercial, and recreational spaces, catering to those who value convenience and lifestyle integration. These projects offer everything from dining and shopping to office spaces, aligning with the demand for live-work-play environments. Role of Property Management Companies The increasing demand for rentals, coupled with a large expatriate population, has boosted the need for property management services. Companies like Colife, which provide comprehensive property management, renting, and investment support, are becoming invaluable to non-resident property owners and local tenants alike.   Dubai’s Real Estate Market in 2024: A Final Look With a population projected to grow from 3.5 million in 2023 to 5.5 million by 2030, and the UAE’s economy expected to grow by 4% in 2024, Dubai’s real estate market remains robust, attractive, and full of opportunities. The drive for transparency, sustainability, and innovation will continue to make Dubai a real estate powerhouse in the global market.Home Lounge Real Estate Brokers LLC: A Vision for Excellence At Home Lounge Real Estate Brokers LLC, we aim to lead in Dubai’s real estate market, committed to transparency, professionalism, and tailored solutions for our clients. As a RERA-registered company, we focus on delivering client-centered services that align with Dubai’s evolving real estate landscape. Whether assisting in property acquisition or management, our mission is to provide a seamless, trustworthy experience, building lasting relationships as the go-to Real estate agency in Dubai Phone No: +971 42 866 770 | +971 50 785 1492 Email: trupti@homeloungeuae.com Address: 2615 Churchill Tower 1, Business Bay, Dubai, U.A.E.

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Dubai: Where Investment Potential Meets Golden Opportunities
27 Sep, 2024
Dubai: Where Investment Potential Meets Golden Opportunities

As one of the most dynamic and rapidly growing cities in the world, Dubai presents a wealth of opportunities for investors. With its strategic location, forward-thinking leadership, and exceptional infrastructure, the emirate offers a compelling proposition for those seeking high returns on their investments.   Established Expertise in Dubai’s Real Estate Market Home Lounge UAE, officially known as Home Lounge Real Estate Brokers LLC, is a RERA-registered real estate company operating at the forefront of Dubai’s property market. Our firm is dedicated to offering exceptional services to both residential and commercial property buyers. As one of the leading real estate agents in Dubai, we specialize in identifying and acquiring properties in Dubai that align with our clients’ investment goals. Our Commitment to Excellence At Home Lounge UAE, excellence is not merely a goal but the standard we uphold. We pride ourselves on our professionalism, attention to detail, and steadfast commitment to delivering outstanding results for our clients. Whether you are looking to invest in luxury residences or prime commercial spaces, our team ensures that your real estate transactions are handled with the utmost precision and care. Revolutionizing Real Estate Services Home Lounge UAE is transforming the real estate landscape in Dubai through our innovative business model and client-centric approach. Our aim is to redefine how real estate services are delivered, enhancing our clients’ experiences and empowering them to make informed investment decisions. By leveraging cutting-edge technology and a deep understanding of market trends, we provide a seamless and enriching real estate experience.   Top Trending Off-Plan Projects in Dubai Dubai’s real estate market is teeming with opportunities, particularly in off-plan projects. Home Lounge UAE is at the forefront of this trend, offering exclusive access to some of the most sought-after developments in the city. Our collaborations with major and state-owned developers ensure that our clients receive the best investment options available in terms of functionality and attractiveness. Real Estate: A Cornerstone of Dubai’s Economy The real estate in Dubai sector remains a cornerstone of the emirate’s economy. The market encompasses a wide range of properties, from residential and commercial spaces to hospitality and retail developments. The legacy of Expo 2020 has further accelerated growth in key areas, presenting lucrative opportunities for investors. As a leading real estate agency in Dubai, Home Lounge UAE is well-positioned to guide you through this evolving landscape.   Embracing Technology and Innovation Dubai’s ambition to become a global tech hub is reflected in its investments in technology and innovation. Sectors such as fintech, e-commerce, artificial intelligence (AI), and cybersecurity are experiencing rapid growth. Investors interested in the digital revolution will find Dubai a fertile ground for innovation. Home Lounge UAE keeps abreast of these technological advancements to offer clients insights into emerging investment opportunities.   Healthcare: Meeting Growing Demand The increasing population and a focus on wellness have led to a burgeoning healthcare sector in Dubai. Medical tourism is also gaining momentum, creating investment opportunities in hospitals, clinics, and related services. With our extensive knowledge of Dubai’s real estate market, Home Lounge UAE can help you navigate this promising sector and identify prime healthcare investment opportunities.   Renewable Energy: Powering a Sustainable Future Dubai’s ambitious renewable energy goals position it as a leader in clean technologies. The emirate is committed to transitioning towards a sustainable future, with significant investments in solar, wind, and other renewable energy projects. For investors interested in green technologies, Dubai offers numerous opportunities to contribute to and benefit from the renewable energy sector. Logistics and Transportation: The Heart of Commerce Dubai’s strategic location as a global trade hub makes logistics and transportation vital sectors of its economy. The ongoing expansion of infrastructure, coupled with increasing trade volumes, creates a favorable environment for investment in these areas. Home Lounge UAE can assist investors in exploring opportunities within this essential sector. Key Considerations for Investors While Dubai offers immense potential, approaching investments with a strategic mindset is crucial. Conducting thorough market research, diversifying your portfolio, and seeking professional advice are essential steps to maximize returns. Home Lounge UAE provides expert guidance to help you navigate the complexities of the Dubai real estate market and make informed investment decisions.   Dubai’s vibrant economy and supportive government policies make it an attractive destination for investors seeking growth and prosperity. By carefully considering the various sectors and leveraging the expertise of Home Lounge UAE, you can position yourself to capitalize on the emirate’s substantial investment potential. Whether you are interested in luxury properties, innovative technologies, or sustainable ventures, Dubai presents unparalleled opportunities for those ready to invest in its dynamic future.   Phone No: +971 42 866 770 | +971 50 785 1492 Email: trupti@homeloungeuae.com Address: 2615 Churchill Tower 1, Business Bay, Dubai, U.A.E.

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How International Investors Shape the Design and Amenities of Luxury Properties in Dubai
30 Sep, 2024
How International Investors Shape the Design and Amenities of Luxury Properties in Dubai

Dubai’s luxury real estate market has emerged as a global hub for investors seeking not only opulence and exclusivity but also substantial returns on their investments. The influx of international buyers into the city has profoundly influenced the design and amenities of luxury properties in Dubai, compelling developers to craft innovative, tailored offerings that meet the diverse expectations of this sophisticated clientele. Branded Residences: A Status Symbol One of the most significant trends in Dubai’s luxury real estate in Dubai is the proliferation of branded residences. These properties, often developed in collaboration with iconic global brands like Emaar Beachfront, Damac, and Sobha, represent the epitome of exclusivity and prestige. For international investors, owning a branded residence is more than just a luxury living experience; it is a statement of status. These properties have become magnets for high-net-worth individuals who value the cachet and recognition that comes with residing in such distinguished addresses. Real estate agents in Dubai are well aware of this trend and frequently showcase these properties as the pinnacle of luxury living. Personalized Amenities and Services The demand for personalized amenities is rising among international investors, who seek properties that cater to their unique lifestyles and preferences. In response, developers in Dubai are designing luxury properties that feature bespoke amenities, such as private elevators, dedicated concierge services, and in-house spas and fitness centers. These features go beyond mere convenience—they embody the essence of privacy, exclusivity, and a service level that is synonymous with luxury living. In the competitive market of properties in Dubai, such personalized offerings set the standard for what international buyers expect from their investments. Sustainability and Eco-Friendly Design As global awareness of environmental issues increases, sustainability has become a crucial factor for international investors in the luxury real estate market. Developers are now prioritizing eco-friendly design, incorporating green technologies such as energy-efficient systems and renewable energy sources into their projects. These sustainable properties not only appeal to environmentally conscious investors but also align with the growing demand for a greener lifestyle. In Dubai, where innovation meets luxury, real estate in Dubai is increasingly defined by its commitment to sustainability, making it an attractive proposition for forward-thinking international buyers. Connectivity and Accessibility For international investors, connectivity and accessibility are key considerations when choosing luxury properties. Dubai developers are acutely aware of this, and they are designing properties with proximity to global transportation hubs, metro stations, and major highways. This emphasis on connectivity ensures that investors can easily access their properties, whether for business or leisure. Properties in Dubai, therefore, are often located in strategic locations that offer seamless access to the city’s key areas, reinforcing Dubai’s appeal as a global city that combines luxury with practicality. Lifestyle and Leisure Amenities Dubai’s luxury real estate in Dubai market offers more than just stunning properties; it provides a complete lifestyle experience. International investors are drawn to developments that feature a range of leisure amenities, from private beaches and golf courses to high-end shopping and dining. Developers are responding to this demand by creating integrated communities that offer a holistic luxury lifestyle. These communities are designed to cater to every aspect of a resident’s life, making them highly attractive to international buyers who seek not just a home, but a comprehensive living experience that encapsulates the best of what Dubai has to offer. As the luxury real estate market in Dubai continues to evolve, the preferences of international investors will remain a driving force in shaping the design and amenities of the city’s most prestigious properties. Developers who can anticipate and meet the diverse needs of this global clientele will thrive in Dubai’s dynamic and competitive market. By offering a blend of prestige, personalization, sustainability, connectivity, and lifestyle amenities, Dubai continues to stand out as a premier destination for international investors seeking not only a premium living experience but also a sound and lucrative investment.   Phone No: +971 42 866 770 | +971 50 785 1492 Email: trupti@homeloungeuae.com Address: 2615 Churchill Tower 1, Business Bay, Dubai, U.A.E.  

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UAE Property: ‘Can an agent demand a gift for negotiating rent?’
04 Mar, 2024
UAE Property: ‘Can an agent demand a gift for negotiating rent?’

Many agencies operate in different ways. What is normal would be for the broker to get both the tenant and landlord together to arrange the collection of cheques (rent, deposit and commission) and to sign the contract If this is not possible, the order of proceedings would be to get the tenant to sign first and then deposit the cheques with the broker. The broker would then give the cheques to the landlord once they have signed their part of the contract. Handing over the rent cheques to the broker before getting the contract signed is not risky as long as they have confirmed receipt and all parties have agreed to how everything will be handled. Different countries have varied ways of doing business, but as long as the paperwork, receipts and proceedings are adhered to, it can work in multiple ways.

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Aldar Properties awarded $6bn in contracts last year
08 Feb, 2024
Aldar Properties awarded $6bn in contracts last year

Aldar Properties contracts The awarded contracts will result in the delivery of villas, townhouses, apartments, Grade A offices, retail spaces, schools, and major highways within some of Abu Dhabi’s key growth locations, including Yas Island, Saadiyat Island, and Al Shamkha. 53 per cent of the contracts were awarded for Aldar owned projects, while the remaining 47 per cent are projects being delivered on behalf of the Abu Dhabi government. Adel Abdulla Albreiki, Chief Executive Officer at Aldar Projects, said: “The significant value of contracts awarded by Aldar in 2023 is a representation of Abu Dhabi’s ongoing and accelerated development as a destination to live, work, and visit. “Once completed, these projects will not only help to satisfy demand for new residential options in the capital, but also deliver new office and retail spaces, and make the emirate more connected through a series of infrastructure improvements.” “Aldar places sustainability as a key credential within its procurement process, ensuring that all contractors are positively contributing to our Net Zero commitments, which encompass a number of critical levers, including low carbon design, low carbon supply chain, green construction, and circular economy.”

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