The Dubai real estate market closed December 30, 2024, with an impressive total transaction value of AED 2,584,172,203. This figure is a testament to the city’s thriving real estate landscape, driven by robust activity across both off-plan and ready properties.

Off-Plan Properties

Off-plan transactions contributed 72.3% of the total, amounting to AED 1,868,405,828. This highlights the continued strong demand for new developments in Dubai. Breaking down the sub-categories:

• Flats: Dominated the off-plan segment, contributing 84.8% of the total off-plan transactions with a value of AED 1,584,543,553.
• Villas: Represented 11.4% of off-plan transactions, totaling AED 212,101,983.
• Hotel Apartments & Rooms: Recorded AED 7,652,838, a modest 0.4% contribution.
• Commercial: Accounted for 3.4%, with transactions worth AED 64,107,454.

Ready Properties

Ready property transactions comprised 27.7% of the total, valued at AED 715,766,375. This reflects a consistent interest in immediately available properties. The contributions of the sub-categories were as follows:

• Flats: Led the ready market with a 64.6% share, amounting to AED 462,359,657.
• Villas: Accounted for 24.8%, with transactions worth AED 177,635,531.
• Hotel Apartments & Rooms: Contributed 3%, totaling AED 21,685,828.
• Commercial: Made up 7.6%, with a value of AED 54,085,359.

Key Insights

1. Dominance of Off-Plan Transactions: With over 72% of the total, off-plan properties underline Dubai’s appeal as a hub for future-focused investments, driven by ongoing infrastructure and development projects.
2. Flats as a Preferred Choice: Flats led transactions in both off-plan and ready segments, highlighting their accessibility and popularity among buyers.
3. Balanced Market Activity: The ready property market’s 27.7% share reflects a steady demand for move-in-ready homes, catering to immediate housing and investment needs.
4. Growing Interest in Villas: Villas demonstrated significant contributions in both off-plan (11.4%) and ready (24.8%) segments, indicating a rising preference for larger residential spaces.

Conclusion

The robust performance of Dubai’s real estate market on December 30, 2024, underscores the city’s dynamic property sector. The strong off-plan activity reflects investor confidence in Dubai’s long-term growth, while the sustained interest in ready properties indicates a balanced and vibrant market. With its strategic initiatives and continuous development, Dubai remains a global hotspot for real estate investment and lifestyle opportunities.

Dubai Real Estate Weekly Market Analysis 30-Dec-2024

The total real estate transactions in Dubai for Week 52 amounted to AED7.46 billion, representing a notable decline of 20.6% compared to the previous week’s total of AED9.4 billion. This decrease indicates a temporary slowdown in market activity, likely influenced by year-end factors.

Category Breakdown

Off-Plan Properties: Contributed 59.5% of the total transactions, accounting for AED4.44 billion.
Ready Properties: Represented 40.5% of the total, amounting to AED3.02 billion.
This imbalance highlights a continued preference for off-plan developments, showcasing Dubai’s appeal for future-focused investments.

Off-Plan Transactions Analysis

Off-plan property sales dominated with AED4.44 billion, distributed across four sub-categories:

• Flats: AED3.84 billion (86.5% of off-plan transactions)
• Villas: AED407.81 million (9.2%)
• Hotel Apartments & Rooms: AED22.03 million (0.5%)
• Commercial Properties: AED169.17 million (3.8%)

The predominance of flats demonstrates a strong preference for residential units in under-construction developments.

Top Areas by Off-Plan Value

• Business Bay: AED842.42 million (19% of off-plan Transactions)
• Jumeirah Village Circle: AED479.55 million
• Al Yufrah 1: AED233.54 million
• Hadaeq Sheikh MBR: AED219.48 million
• Madinat Al Mataar: AED196.27 million

Business Bay emerged as the most active area, reflecting its prominence as a key hub for luxury developments and strategic location.

Ready Property Transactions Analysis

Ready properties accounted for AED3.02 billion, with the following contributions:

• Flats: AED2.02 billion (66.8% of ready transactions)
• Villas: AED529.12 million (17.5%)
• Hotel Apartments & Rooms: AED161.53 million (5.4%)
• Commercial Properties: AED117.02 million (3.9%)

Similar to the off-plan market, flats dominated ready sales, indicating a consistent investor preference for residential apartments.

Top Areas by Ready Property Value

• Business Bay: AED300.48 million (10% of ready transactions)
• Burj Khalifa: AED294.27 million
• Jumeirah Village Circle: AED279.84 million
• Dubai Land Residence Complex: AED234.74 million
• Jumeirah Lakes Towers: AED195.63 million

The dominance of Business Bay and Burj Khalifa underscores the sustained investor interest in premium locations.

Key Insights and Comparison

• Off-Plan vs. Ready Market: The off-plan market outperformed the ready market, signaling robust interest in future developments.
• Flats Dominate Transactions: Flats remain the most traded property type across both categories, emphasizing high demand for residential living.
• Top Performing Areas: Business Bay’s prominence in both off-plan and ready transactions highlights its consistent allure as a premium investment destination.
• Market Decline: The decrease from AED9.4 billion to AED7.46 billion in weekly transactions suggests a seasonal slowdown, possibly driven by year-end investor behavior.

Conclusion

Week 52’s real estate performance reflects a cooling-off period in Dubai’s market, with a marked preference for off-plan properties. The consistent activity in key areas like Business Bay and Jumeirah Village Circle reinforces their status as prime investment hubs. While the decline in transaction value highlights short-term challenges, Dubai’s real estate market remains a resilient and attractive destination for global investors.

Foreigners can purchase property in Dubai’s designated freehold areas. The process involves legal requirements, fees, and potential residency visas. Consult official sources for detailed guidelines.

Dubai’s real estate market has long attracted foreign investors due to its strategic location, modern infrastructure, and investor-friendly policies. If you’re a non-resident considering purchasing property in Dubai, it’s essential to understand the legal requirements and procedures involved.

Eligibility for Foreign Ownership

Foreigners, whether residing in Dubai or abroad, are permitted to purchase property within designated freehold areas. These zones, established by Regulation No. 3 of 2006, allow non-UAE nationals to own property outright. The Dubai Land Department (DLD) issues title deeds to foreign owners, ensuring legal recognition of ownership.

Types of Properties Available

Foreign investors can choose from various property types, including:

• Completed Properties: Ready for immediate occupancy or rental.
• Off-Plan Properties: Under construction, often offered at competitive prices.

Legal Requirements and Documentation

To proceed with a property purchase, ensure you have the following:

1. Identification: A valid passport is required. While a UAE ID is used for identification, non-resident foreigners can proceed with just their passport.
2. No Objection Certificate (NOC): For properties in freehold areas, obtain an e-NOC from the developer via the Dubai REST App.
3. Proof of Funds: Evidence of financial capability to complete the purchase.
4. Sale Agreement: A contract outlining the terms between buyer and seller.
5. Mortgage Pre-Approval: If financing the purchase, secure pre-approval from a bank.

Property Registration Process

Once you’ve selected a property and agreed on terms:

1. Sign the Sale Agreement: Both parties formalize the agreement.
2. Obtain the NOC: The seller secures this from the developer, confirming no outstanding obligations.
3. Transfer Ownership at DLD: Both parties visit a DLD office or an authorized center to transfer ownership. The buyer pays the required fees, and the title deed is issued in their name.

Fees and Costs

Be prepared for additional expenses:

• DLD Registration Fee: Typically 4% of the property’s purchase price.
• Administrative Fees: Approximately AED 5,000, varying based on the property’s value.
• Mortgage Registration Fee: If applicable, 0.25% of the loan amount.

Financing Options for Non-Residents

Several banks in Dubai offer mortgage services to non-residents. While terms vary, common requirements include:

• Down Payment: Generally 20-25% of the property’s value.
• Proof of Income: Demonstrating the ability to repay the loan.
• Age Limit: Usually between 21 and 65 years at the loan’s maturity.

Residency Visas Linked to Property Investment

Investing in Dubai real estate can also provide residency benefits:

• 3-Year Investor Visa: Available for properties valued at AED 750,000 or more.
• 5-Year Investor Visa: For properties worth AED 2 million or more. u.ae
• 10-Year Golden Visa: For investments of AED 2 million and above, with additional criteria.

Key Considerations

• Due Diligence: Verify the developer’s reputation and the property’s legal status.
• Legal Assistance: Engage a lawyer specializing in UAE real estate to navigate the process.
• Inheritance Planning: Consider drafting a will to ensure your property’s succession aligns with your wishes.

Conclusion

Purchasing property in Dubai as a foreigner is a structured process with clear guidelines. By understanding the legal requirements and engaging with reputable professionals, you can make informed decisions and capitalize on Dubai’s dynamic real estate market.

Dubai’s real estate market demonstrated robust activity on December 26, 2024, with total transactions amounting to AED 1.38 billion. These transactions were almost evenly split between Off-Plan and Ready properties, highlighting the city’s dynamic real estate offerings.

Key Highlights

• Off-Plan vs. Ready Properties Contribution
• Off-Plan Properties accounted for 48.9% of the total transactions, registering a value of AED 674.1 million.
• Ready Properties contributed 51.1%, with a total value of AED 703.7 million.Sub-Category Breakdown
  • Off-Plan Properties:
    • Flats were the dominant sub-category, contributing 86.8% (AED 584.9 million) to the Off-Plan total.
    • Villas contributed 3.6% (AED 24.6 million).
    • Hotel Apartments & Rooms and Commercial Spaces added 0.5% (AED 3.2 million) and 9.1% (AED 61.4 million), respectively.
  • Ready Properties:
    • Flats also led the Ready category, contributing 69.3% (AED 488.0 million).
    • Commercial Spaces were the second-largest contributor at 17.1% (AED 120.7 million).
    • Villas accounted for 9.9% (AED 69.4 million).
    • Hotel Apartments & Rooms contributed 3.6% (AED 25.6 million).

Analysis

• Flats remain the cornerstone of Dubai’s real estate market, driving the majority of transactions in both Off-Plan and Ready categories. Their combined total was an impressive AED 1.07 billion, making up 77.8% of all property transactions for the day.
• The notable contribution of Commercial Spaces in Ready transactions (17.1%) reflects a growing demand for business premises, which could signify increased investor confidence in Dubai’s economic landscape.
• Villas, while having a smaller share, showed a stronger presence in the Ready category than Off-Plan, indicating a preference for immediate occupancy or investment-ready properties.

Conclusion

Dubai’s real estate market on December 26, 2024, exhibited a healthy balance between Off-Plan and Ready property transactions, demonstrating the city’s ability to cater to diverse buyer preferences. With Flats dominating both categories, and a steady interest in Commercial Spaces and Villas, the market continues to showcase its resilience and appeal to a global audience.

Real Estate Blockchain Use Cases With Example From Dubai

Blockchain is transforming Dubai’s real estate with smart contracts, tokenization, and decentralized identity solutions. It enhances transparency, speeds transactions, enables fractional ownership, and promotes sustainable practices. By reducing costs, improving security, and fostering global investment, blockchain is revolutionizing property management and reshaping the market for a more efficient, inclusive future.

Dubai real estate market: 5 trends investors need to know in 2025

Dubai’s real estate market is poised for strong growth in 2025, driven by rising property values, rental demand, luxury developments, and investor confidence. Key trends include rental surges, luxury property expansion, PropTech innovation, sustainable building practices, and attractive yields. With supportive government policies and affordability, Dubai remains a global investment hotspot.

Ras Al Khaimah property market seen growing in 4 years; nine-month period witnesses 70% leap

Ras Al Khaimah’s real estate market has surged by 70% since 2020, driven by luxury affordability, eco-friendly homes, and entertainment developments like Wynn Resort. With strong rental demand, high ROI (15%), and strategic investments, the emirate is emerging as a dynamic, high-growth destination for investors and residents in the UAE.

Dubai Real Estate Market: Looking into the future as we approach 2025

Dubai’s real estate market is set for sustainable growth in 2025, driven by advanced infrastructure, diverse projects, and government initiatives like Golden Visas. Enhanced investment laws, rising property values, and strong demand from international investors and residents ensure a promising upward trend, cementing Dubai’s position as a global real estate hub.

Competitive Pricing, Impressive Growth: Real Estate Factors That Make Dubai More Attractive Than Global Cities

Dubai’s real estate market continues to thrive, with 35% growth in 2024 and transaction values reaching AED 500 billion. Offering superior investment value compared to global cities like Tokyo and London, Dubai’s dynamic market, strategic location, tax benefits, and ambitious government initiatives solidify its position as a leading global real estate destination.

Dubai tenant seeks action against villa owner’s eviction threat

If your landlord seeks to evict you for personal use of the property, they must notify you through a Notary Public or registered post at least 12 months before the eviction date, per Dubai’s rental laws. If the real estate office refuses to renew your lease, you can file an application for “Offer and Deposit” at the Rental Dispute Centre to seek legal resolution and request a provisional judge to enforce the renewal.

Sheikh Hamdan forms interim steering committee to oversee transfer of commercial control operations in Dubai

Dubai has announced Executive Council Resolution No. (99) of 2024, forming a Steering Committee to oversee the transfer of commercial control operations to the Dubai Corporation for Consumer Protection and Fair Trade. The committee will streamline processes, coordinate regulatory efforts, resolve disputes, and monitor implementation to enhance market oversight.

Saudi Arabia’s construction market to exceed $90 billion by 2029

Saudi Arabia’s real estate market, fueled by Vision 2030. The market is currently valued at $70.33 billion and is set for robust growth, especially in Riyadh. Key drivers include megaprojects, hotel investments rising 30% by 2025, booming residential and office demand, and sustainability-focused initiatives. Major events like Expo 2030 and World Cup 2034 will further propel expansion.

The Dubai real estate market witnessed robust activity on December 25, 2024, with total transactions amounting to an impressive AED 1.31 billion. The transactions were divided between off-plan and ready properties, reflecting a balanced and dynamic market landscape. Below is a detailed breakdown and analysis of the performance of each category and its sub-categories.

Overview of Total Transactions

• Off-Plan Properties:
  • Total transactions in this category amounted to AED 662.38 million, contributing 50.4% to the overall market total.
• Ready Properties:
  • Total transactions in this segment reached AED 652.02 million, representing 49.6% of the total transactions.

The near-equal contribution of both categories highlights a diverse demand from investors and end-users, balancing long-term investment interests with immediate property needs.

Breakdown of Off-Plan Transactions (50.4% of Total)

The off-plan category saw significant activity across various sub-categories:

• Flats: AED 579.69 million (87.5% of off-plan transactions)
  Flats dominated the off-plan segment, highlighting a strong preference for affordable and future-oriented residential units.
• Villas: AED 57.23 million (8.6% of off-plan transactions)
  Villas remained a niche but consistent choice, appealing to buyers seeking luxury living spaces.
• Hotel Apartments & Rooms: AED 8.87 million (1.3% of off-plan transactions)
  Investment in hospitality assets continued modestly, indicating cautious optimism in this segment.
• Commercial Properties: AED 16.60 million (2.5% of off-plan transactions)
  Commercial properties demonstrated a minor but steady interest from investors.

Breakdown of Ready Transactions (49.6% of Total)

Ready properties closely mirrored the off-plan segment in terms of total value, with notable trends:

• Flats: AED 459.09 million (70.4% of ready transactions)
  Flats led this category as well, driven by immediate demand for completed residential units.
• Villas: AED 97.29 million (14.9% of ready transactions)
  Villas showed strong performance, reflecting demand from high-net-worth individuals and families.
• Hotel Apartments & Rooms: AED 51.73 million (7.9% of ready transactions)
  This segment saw healthy traction, signaling investor confidence in Dubai’s hospitality market.
• Commercial Properties: AED 43.91 million (6.7% of ready transactions)
  Steady investments in commercial assets underscored the city’s business-friendly environment.

Key Takeaways

1. Balanced Market Dynamics: The almost equal split between off-plan (50.4%) and ready (49.6%) transactions demonstrates balanced investor and end-user interest.
2. Flats Dominate: Across both categories, flats accounted for the lion’s share of transactions, signaling strong demand for affordable and functional housing solutions.
3. Emerging Trends in Villas: Villas captured significant attention, indicating a growing appetite for upscale and spacious living options.
4. Hospitality Investments: The consistent activity in hotel apartments and rooms reflects confidence in Dubai’s tourism and hospitality sector.

Conclusion

The December 25, 2024, transactions highlight a vibrant and diversified real estate market in Dubai. The equal emphasis on off-plan and ready properties, coupled with the dominance of flats and notable villa activity, paints a positive picture of investor confidence and end-user demand. With such dynamic trends, Dubai continues to solidify its position as a global real estate hub.

On December 23, 2024, Dubai recorded an impressive total of AED 1,885,682,855 in real estate transactions. This total was split into two major categories: Off-Plan Properties and Ready Properties. Here is a detailed breakdown and analysis of the contributions of these categories and their respective subcategories.

Off-Plan Properties:

Off-Plan transactions accounted for a substantial 65.2% of the total real estate transactions, amounting to AED 1,228,644,842. The subcategories of Off-Plan properties contributed as follows:

• Flats:
• Transaction Value: AED 1,147,505,586
• • Contribution to Off-Plan Total: 93.4%
• Villas:
  • Transaction Value: AED 55,112,956
  • Contribution to Off-Plan Total: 4.5%
• Hotel Apartments & Rooms:
  • Transaction Value: AED 5,471,019
  • Contribution to Off-Plan Total: 0.4%
• Commercial Properties:
  • Transaction Value: AED 20,555,280
  • Contribution to Off-Plan Total: 1.7%

Off-Plan Flats dominated this category, representing a massive share of over 93%, showcasing sustained interest in residential units under development.

Ready Properties:

Ready transactions made up the remaining 34.8% of the total, amounting to AED 657,038,014. Here is the breakdown of contributions from the subcategories:

• Flats:
  • Transaction Value: AED 422,575,836
  • Contribution to Ready Total: 64.3%
• Villas:
  • Transaction Value: AED 163,583,666
  • Contribution to Ready Total: 24.9%
• Hotel Apartments & Rooms:
  • Transaction Value: AED 29,756,628
  • Contribution to Ready Total: 4.5%
• Commercial Properties:
  • Transaction Value: AED 6,082,946
  • Contribution to Ready Total: 0.9%

Ready Flats emerged as the leader in this category, contributing significantly to the overall transactions with over 64% of the total Ready Property value.

Key Insights:

• Off-Plan Dominance:
  • The majority of the transactions came from Off-Plan properties, reflecting strong investor confidence in Dubai’s upcoming developments and the appeal of flexible payment plans.
  • Flats were the standout performers, dominating both Off-Plan and overall transactions.
• Steady Demand for Ready Properties:
  • While Off-Plan dominated, Ready properties still accounted for a substantial share, driven primarily by Flats and Villas.
  • Ready Villas, contributing nearly a quarter of the Ready total, demonstrated a continued preference for family-oriented housing.
• Niche Segments:
  • Hotel Apartments & Rooms and Commercial properties in both categories had a smaller share but remain attractive for specific investor groups seeking rental yields and business opportunities.

Conclusion:

Dubai’s real estate market continues to showcase resilience and vibrancy, with strong activity across both Off-Plan and Ready properties. Flats lead the market in both categories, emphasizing the city’s appeal to investors and end-users seeking high-quality urban living. With continued investment in infrastructure and community development, Dubai remains a top destination for real estate investment.

The total real estate transactions in Dubai for Week 51 amounted to AED9.44 billion, representing a significant growth of 8.5% compared to the previous week’s total of AED8.7 billion. This upward trend highlights sustained investor confidence and an active market, with contributions from both off-plan and ready properties.

Category Breakdown

• Off-Plan Properties: Contributed 51.3% of the total transactions, accounting for AED4.84 billion.
• Ready Properties: Represented 48.7% of the total, amounting to AED4.59 billion.

This balance between off-plan and ready transactions showcases Dubai’s dual appeal for investors interested in new developments and those seeking immediate possession.

Off-Plan Transactions Analysis

Off-plan property sales dominated with AED4.84 billion, distributed across four sub-categories:

1. Flats: AED4.04 billion (83.3% of off-plan transactions)
2. Villas: AED742.99 million (15.3%)
3. Hotel Apartments & Rooms: AED15.01 million (0.3%)
4. Commercial Properties: AED49.98 million (1.0%)

The predominance of flats demonstrates a strong preference for residential units in under-construction developments.

Top Areas by Off-Plan Value

• Business Bay: AED679.72 million (25% of top 10 off-plan areas)
• Al Yufrah 1: AED307.39 million
• Madinat Al Mataar: AED306.49 million
• Marsa Dubai: AED276.89 million

Business Bay emerged as the most active area, reflecting its prominence as a key hub for luxury developments and strategic location.

Ready Property Transactions Analysis

Ready properties accounted for AED4.59 billion, with the following contributions:

1. Flats: AED3.79 billion (82.5% of ready transactions)
2. Villas: AED505.47 million (11.0%)
3. Hotel Apartments & Rooms: AED111.36 million (2.4%)
4. Commercial Properties: AED185.42 million (4.0%)

Similar to the off-plan market, flats dominated ready sales, indicating a consistent investor preference for residential apartments.

Top Areas by Ready Property Value

• Dubai Water Canal: AED1.54 billion (48.1% of top 10 ready areas)
• Burj Khalifa: AED302.76 million
• Palm Jumeirah: AED289.99 million
• Business Bay: AED259.31 million

The dominance of Dubai Water Canal showcases its growing reputation as a luxury hotspot.

Key Insights and Comparison

• The off-plan market slightly outperformed the ready market this week, signaling robust interest in future developments.
• Flats remain the most traded property type across both categories, demonstrating high demand for residential living.
• Business Bay’s prominence in both off-plan and ready transactions reflects its consistent allure as a premium investment destination.
• The increase from AED8.7 billion to AED9.44 billion in weekly transactions signifies strong year-end activity, possibly driven by investor deadlines and holiday-related investments.

Conclusion

Week 51’s real estate performance underscores Dubai’s position as a thriving global real estate hub. With balanced contributions from off-plan and ready properties, the market continues to attract a diverse array of investors. The focus on high-value areas such as Business Bay, Dubai Water Canal, and Burj Khalifa highlights the enduring demand for properties in prime locations.

The United Arab Emirates (UAE) has undergone a remarkable transformation over the past two decades. The country’s legal landscape has evolved significantly, reflecting its commitment to modernization, economic growth, and social progress. Since 2004, the UAE has introduced a series of reforms aimed at aligning with global standards and positioning itself as a hub for international business and tourism. Below, we explore some of the most significant legal changes that have shaped the UAE, drawing insights from highly reputable sources.

Economic Reforms: Attracting Global Investment

The UAE’s economic policies have been pivotal in transforming the country into a global business hub. One of the most notable changes came in 2020 with the introduction of a law allowing 100% foreign ownership of onshore companies in many sectors. Previously, foreign investors were required to partner with a local sponsor who held a majority stake in the business. This reform, covered by Reuters, aims to boost foreign direct investment (FDI) and diversify the economy beyond oil. (Reuters, 2020)

In addition to ownership reforms, the UAE has introduced a corporate tax, set at 9%, marking a significant shift in its tax-free policy. This move aligns the UAE with international tax standards and ensures compliance with the global minimum tax requirements, set to take effect in 2025 for large multinationals. This change has been extensively reported by The National News (The National News, 2023).

Labor Law Reforms: Modernizing the Workforce

The UAE has also overhauled its labor laws to create a more flexible and inclusive work environment. In 2022, the country introduced new laws that recognize part-time, temporary, and flexible work arrangements. These reforms aim to attract global talent and provide workers with greater flexibility. As highlighted by Gulf News, the labor law reforms also enhance employee rights by introducing anti-discrimination provisions and streamlining end-of-service benefits (Gulf News, 2022).

Another critical change involves the introduction of an alternative end-of-service benefits scheme. Employers can now contribute to licensed investment funds on behalf of employees, protecting their savings from inflation and financial instability. This initiative, discussed by The Khaleej Times, is expected to improve employee satisfaction and retention. (Khaleej Times, 2023)

Social Reforms: Reflecting a Changing Society

To attract tourists and expatriates, the UAE has embraced significant social reforms. In 2020, the country decriminalized alcohol consumption and allowed unmarried couples to live together, breaking away from its traditionally conservative stance. These changes reflect the UAE’s efforts to modernize its social policies and appeal to a more diverse population, as reported by The Associated Press. (The Associated Press, 2020)

The country has also reformed its personal and family laws to better serve its multicultural population. Amendments have been made to laws governing divorce, inheritance, and custody, allowing expatriates to follow the laws of their home countries in specific cases. These reforms are particularly relevant in a country where expatriates comprise a significant portion of the population. Academic studies have highlighted the impact of these reforms on improving the UAE’s attractiveness as a destination for global professionals.

Judicial Reforms: Enhancing Legal Transparency

The UAE has made significant strides in improving its judicial system to align with international best practices. The establishment of the Dubai International Financial Centre (DIFC) Courts in 2006 marked a significant development. These courts operate under an independent common law system and provide an English-language platform for resolving civil and commercial disputes. This initiative, covered by The Financial Times, underscores the UAE’s commitment to providing a business-friendly legal environment. (Financial Times, 2006)

Additionally, the introduction of federal data protection laws in 2021 reflects the UAE’s focus on cybersecurity and privacy. These laws are closely modeled on the European General Data Protection Regulation (GDPR) and aim to protect personal data while ensuring businesses’ compliance with international standards.

Environmental and Sustainability Laws: A Green Focus

Recognizing the global shift towards sustainability, the UAE has also introduced laws aimed at reducing carbon emissions and promoting renewable energy. The UAE Energy Strategy 2050, launched in 2017, targets a 50% clean energy mix and a 70% reduction in carbon emissions. Laws supporting the use of electric vehicles and renewable energy projects have further emphasized the country’s commitment to sustainability.

Conclusion: A Dynamic Legal Landscape

The UAE’s legal reforms since 2004 illustrate its commitment to adapting to global standards and fostering an environment conducive to economic growth, social progress, and sustainability. From allowing full foreign ownership to modernizing labor laws and embracing social freedoms, these changes position the UAE as a forward-thinking nation ready to meet the challenges of the 21st century.

Property buyers in the UAE who opt for a mortgage, should take term insurance, an industry executive has said. This provides an additional layer of security to the lender and the borrower’s family, the executive added.

As demand for off-plan property in Dubai and the UAE has been growing exponentially, the number of term life insurance buyers is also on the rise.

In November, Dubai’s property market recorded 12,543 transactions, an 18 per cent increase from the same period last year, with total sales value reaching Dh30.5 billion. Off-plan sales continued to dominate the market, accounting for 60 per cent of all Dubai sales transactions, a 35 per cent increase year-on-year with a total value of Dh15.8 billion.

Ayman Youssef, managing director of Coldwell Banker, said mortgage lenders often require life insurance because it serves as a safety net to ensure that the loan can be repaid if the borrower passes away.

“Life insurance provides a payout that can cover the outstanding mortgage balance, reducing the risk of financial loss for the lender. It ensures that your loved ones aren’t burdened with repaying the mortgage or facing the risk of losing the home. For high-value mortgages, life insurance adds a new layer of security for both the lender and the borrower’s family,” said Youssef.

Both expatriates and Emirati property buyers must have term life insurance when opting for a mortgage from a bank.

“Some policies, like mortgage protection insurance, are specifically designed for this purpose, but you can often use any term life insurance policy to meet the requirement,” he added.

However, term life insurance is not required by developers.

In addition, lenders in some countries or with certain types of mortgages may require borrowers to have life insurance as a loan condition.

Demand on the rise

With the rise in property sales and mortgages, Avinash Babur, founder and CEO of Insurancemarket.ae, said individuals purchasing property are often required to have a term life insurance policy linked to the mortgage. “This segment has contributed significantly to the growing uptake of term life insurance, as it ensures financial protection for lenders and borrowers alike. This trend is particularly prominent among expatriates seeking to secure their families’ future while investing in property,” said Babur.

He added that the primary buyers of term insurance in the UAE are individuals and families.

Dubai recorded total real estate transactions worth AED 1.49 billion on 19 December 2024. The transactions were split into two primary categories: Off-Plan properties and Ready properties.

Off-Plan Transactions

Off-Plan properties contributed 53.2% of the total transactions, amounting to AED 793.8 million. This category’s breakdown is as follows:

• Flats: AED 662.1 million (83.4% of Off-Plan total)
• Villas: AED 116.4 million (14.7% of Off-Plan total)
• Hotel Apartments & Rooms: AED 3.2 million (0.4% of Off-Plan total)
• Commercial Properties: AED 12.1 million (1.5% of Off-Plan total)

Ready Transactions

Ready properties accounted for 46.8% of the total, reaching AED 699.4 million. The sub-category contributions are:

• Flats: AED 540.6 million (77.3% of Ready total)
• Villas: AED 113.2 million (16.2% of Ready total)
• Hotel Apartments & Rooms: AED 18.6 million (2.7% of Ready total)
• Commercial Properties: AED 27.1 million (3.9% of Ready total)

Key Highlights

1. Flats Dominate Transactions: Flats made up the majority of activity, contributing 81% of the overall total, with Off-Plan Flats leading their category and Ready Flats following closely.
2. Consistent Villa Performance: Villas represented 15% of total transactions, with balanced activity in both Off-Plan and Ready segments.
3. Hotel Apartments & Rooms: These niche properties contributed a modest 1% to the total but were present in both categories.
4. Commercial Properties: Accounting for 3% of total transactions, Commercial properties saw higher values in the Ready segment compared to Off-Plan.

Public Appeal and Market Outlook

The market’s diverse offerings, from flats and villas to niche commercial and hospitality properties, ensure Dubai remains a leading global real estate hub. This balance of categories continues to attract a broad range of investors and end-users, reinforcing the city’s position as a dynamic and resilient market.

Dubai Real Estate Market Review 20-Dec-2024

Insurance premiums for Dh1 million coverage cost Dh1,200–Dh2,000 annually for healthy borrowers. $5.6bln Dubai Metro Blue Line set to open on 09-09-2029. Landlords can increase rent by maximum of 20%.

UAE: Why property buyers with a mortgage should have life insurance?

Demand for term life insurance is rising in the UAE as mortgage buyers are required to secure it for added protection. Dubai’s off-plan property sales dominate, with Dh15.8 billion in transactions in November. Premiums for Dh1 million coverage cost Dh1,200–Dh2,000 annually for healthy borrowers.

Dubai’s Real Estate Market Shines with AED 120 Million Villa Sale in Emerald Hills

A record AED 120 million villa sale in Dubai’s Emerald Hills highlights the city’s booming luxury real estate market and profitability for HNW and UHNW investors. Custom-built villas in premium locations, driven by strong demand, offer exceptional returns, cementing Dubai’s status as a global hub for luxury living and investment.

$5.6bln Dubai Metro Blue Line set to open on 09-09-2029

Dubai Metro’s AED 20.5 billion Blue Line, operational by September 2029, will span 30 km with 14 stations. Serving 200,000 daily passengers initially, it aims to ease congestion, boost property values, and connect key areas, benefiting a projected 1 million residents by 2040.

Dubai ranks second in global real estate table where annual price appreciation is concerned

Dubai ranks second globally for annual property value growth, with a 19.4% increase, behind Krakow’s 24.7%. eXp Realty attributes Dubai’s success to world-class infrastructure, progressive policies, and a thriving ecosystem, reinforcing its appeal as a top global investment and living destination.

Dubai landlord raises rent by 30 per cent, tenant mulls legal action

In Dubai, landlords can increase rent by a maximum of 20% based on Decree No. 43 of 2013, depending on how the current rent compares to market rates. A 30% increase is not allowed. Disputes on rental hikes can be resolved through the Real Estate Regulatory Agency.

Elite Holding to set up integrated facility in Dubai Industrial City

Elite Group Holding is investing AED 100 million in a 1 million sq ft facility at Dubai Industrial City to drive innovation in the automotive and e-commerce sectors. Operational by Q2 2026, the facility aligns with UAE’s economic growth initiatives, supporting local and global markets while enhancing industrial efficiency and sustainability.

Imtiaz Developments announces early completion of Westwood Grande, JVC

Imtiaz Developments has completed its 20-storey Westwood Grande residential tower in JVC two months early, showcasing its commitment to quality and efficiency. The developer plans to deliver four more projects by Q2 2025, solidifying its position as a leading boutique developer in Dubai’s real estate market.

Property Finder reveals most searched home features across property searches in 2024

Property Finder’s 2024 Home For Every Life Index highlights unique UAE properties and lifestyle trends, with searches focusing on balconies (5.5M), maid’s rooms (3.1M), and private pools (1.3M). Demand for freehold ownership and short-term rentals is rising, reflecting evolving preferences for flexibility, luxury, and lifestyle-enhancing amenities.