DUBAI: In the first five months of the year, Emaar Properties reported a 250% sail in property sales in Dubai.
The company said in a statement that sales reached 10.5 billion dirhams ($408.4 million), adding that it expects even higher growth in the H1 2021.
"I am confident that the Dubai property market is another growing story for the developers, with Emaar well positioned to capitalize on the wise policies of the UAE," said Mohamed Alabbar, its founder. studio qatar
Despite the huge pipeline of future supply in the broader property market, wealthy international investors have helped drive demand in the Dubai luxury segment.
Emaar has revealed plans this year for new residential projects including the Dubai Hills Estate Golf Place, Caya and Bliss Arabian Ranches 3 Golf Terraces and Emaar Beachfront Palace Beach Residence.
A Dubai-based proprietary technology platform that provides a digital alternative to pay cheque or cash rent has partnered with Visa and expands into Saudi Arabia, Kuwait and Bahrain.
Ajar, a cloud-based property management and rent collection platform, announced its partnership with the Global digital payment provider to disrupt the rental market for tenants and property owners.
"Thanks to digitalization, we want to revolutionize the region's property market, reduce losses by maximizing efficiency," said Ajar CEO Mohammed Al-Munaikh.
The plan is to end check or cash rental payments and will allow tenants who are not previously registered with Ajar in the next phase of the platform development digitally to pay.
DUBAI: The first English common law court of the UAE has signed a cooperation agreement for the promotion of will services between buyers of immobilier giants with Emaar Properties.
The Dubai International Financial Center (DIFC) Courts Testament Service, established in 2015, enables non-Muslims who invest in the UAE to transfer their assets to their children and appoint guardians.
The agreement will raise awareness of Emaar's customers, "provide additional protection for investors and residents of property investment in the UAE," the court stated in a statement.
"The UAE has over eight million expatriates, many of whom have settled in the country and bought their families' homes. Moreover, the UAE has welcomed and enabled many foreign investors to invest in property," said Judge Omar Al-Mheiri, DIFC Courts Deputy Chief Justice.
Foreigners are increasingly interested in buying properties in the UAE, especially in the luxury real estate market.
"This new alliance with one of the UAE flagship developers will provide an additional awareness layer for those who choose Dubai and the UAE as their ownership destination," added Al-Mheiri.
The Dubai Court also launched an integrated online registration system that enables investors to complete the process remotely, particularly useful during the pandemic.
"Remote registrations add an added digital access layer to the current Virtual Registry of Wills, allowing those living abroad to create and register a DIFC Court Will," he said in a statement.