March 2021 - UAE Property Market Updates


March 2021 - UAE Property Market Updates 

▪️   Consolidated FDR and DLD Launch Initiative for Foreign Investments
▪️   DLD performances in UAE Property Investments
▪️   Launch of a special to Update Landowner Data in Sharjah
▪️   Development of Nest Project 
▪️   Azizi Developments Completes Handover of Mina, Palm Jumeriah
▪️   FAQs

Here is the UAE real estate news that made waves in March 2021, from the construction of a unique student housing complex in Sharjah to an immense spike in real estate transactions in Dubai.

FDR and DLD Launch Initiative for Foreign Investments 
▪️   The Dubai Investment Development Agency (Dubai FDI) and the Dubai Land Department (DLD) laid preliminary groundwork that will attract direct foreign investments (FDI) early in march.
▪️   A memorandum of understanding (MoU) was signed between the two parties which defined a general framework and outlined areas of co-operation. 
▪️   The co-operative areas include the exchange of vital information in terms of attraction investments as per official regulations in the emirate of Dubai.  

▪️   The primary purpose of the initiative is to promote the benefits of foreign investments, as well as to endorse Dubai as a favourable destination for trade, economic activities and real estate investments.
▪️   To draw foreign investments to the city, both parties will co-operate to organise international and local exhibitions — including both non-digital and digital.

DLD performances in UAE Property Investments 
Arabian Ranches, Dubai
▪️   The real estate industry news for Dubai in March reveals an increase in real estate transactions in areas like Arabian Ranches
▪️   An official sales price index launched by the Dubai Land Department
▪️   The number of real estate investments in the Dubai real estate market has seen an uptick in investments this year. These include:
1.  Over 3,787 property transactions 
2.  Worth AED 7.43 billion as recorded in February 2021
▪️   In terms of volume, that is a 13.8% increase compared to the real estate forecast in January 2021. 
▪️   Brings the total number of transactions until February of this year to 7,114, with transactions being worth over AED 14.2 billion.

Sales in February 2021 
▪️   Sales in sectors for villas and townhouses - 10.3% in February 2021.
▪️   Popular being Nad Al Sheba
▪️   Second is, The Dubai Hills Community.
▪️   Followed by the Green Community, Arabian Ranches and Dubai land.

Launch of a Special Campaign to Update Landowner Data in Sharjah
A special campaign was recently launched to update landowner information in various areas and regions of Sharjah. 
▪️   The initiative was the result of a collaborative effort between the Sharjah Real Estate Registration Department and the District & Villages Affairs Department. 

▪️   To update the data of all real estate owners in the emirate including residents, citizens and foreign investors. 
▪️   One of the purposes was to eliminate the problems posed by similar owner names by linking names to ID numbers.

▪️   The campaign lasted until March 29th 2021 
▪️   Took place in each district’s suburban council
▪️   Apart from securing owner rights, the move also facilitates the management of properties in Sharjah.

The Nest Project
▪️   Nest, the first integrated student housing complex in the United Arab Emirates
▪️   Currently under development with delivery expected in 2021.
▪️    Situated within the Aljada project
▪️    Developed by the Arada Real Estate Development Company. 
▪️   Spanning over 388 thousand square feet
▪️   One of the most ambitious in the emirate.

Nest - Highlights
▪️   The 12 buildings in Nest will include 2,000 housing units. 
▪️   Each building including studio flats and shared dormitories.
▪️   Features separate residential areas for male and female residents.
▪️   Includes a music hall, library, theatre, running track, art studio and a main dining hall.

Azizi Developments Launched – The Handover of Luxurious Mina Development
Upper view of Palm Jumeirah in Dubai

Aziz Developments
▪️   One of the best real estate developments in Dubai
▪️   Recently celebrated a successful handover of Mina
▪️   The luxurious development is located on the iconic Palm Jumeirah’s eastern crescent. 
▪️   The inauguration was officially carried out by chairman and founder of Azizi Developments Mirwais Azizi and chief executive of Aziz Developments Farhad Azizi. 
▪️   The event took place in the presence of local government authorities, senior team members, partners and the media.

The Name - Mina 
▪️   Inspired by the CEO’s daughter at Aziz Developments
▪️   Is an opulent development at one of the most prestigious addresses in the UAE — the Palm Jumeirah. 
▪️   With enviable amenities and a location surrounded by the azure waters of the Arabian Gulf
▪️   It is ideal for those in search of high-end living.
▪️   The waterfront project has a built-up area of 38,500 square metres with residential units including apartments and penthouses.

▪️   A separate retail spaces
▪️   General area also dedicates space for perks
▪️   Private beach access
▪️   Gym facilities, swimming pools
▪️   Jogging track, green spaces and more


1.  What is the best investment in Dubai?
The Dubai real estate market is among the most profitable in the world, with off-plan real estate being a favourite option for expat investors. Interested buyers can focus their search on the best areas with off-plan properties in Dubai to find lucrative properties.

2.  Is it better to buy or rent in Dubai?
Yes, with property prices at a low, a lot of people are considering purchasing real estate in the United Arab Emirates as opposed to renting.