Vasileios (Bill) Kandris, Senior Property Consultant at Dacha Real Estate, has successfully brokered a record-breaking AED 4,000,000 (approximately $1.1 million) annual rental deal for a penthouse apartment at One at Palm Jumeirah. This landmark transaction stands as one of the most significant rental agreements for a residential apartment or penthouse in Dubai’s history. The 7,450-square-foot apartment offers a seamless blend of opulence and exclusivity. Fully upgraded and furnished, the residence boasts a private pool and a vast terrace with panoramic views of Dubai’s most iconic landmarks, including the Palm Jumeirah, Ain Dubai, Burj Al Arab, and the Burj Khalifa. The interior

Abu Dhabi's biggest developer Aldar Properties has acquired a commercial tower in Dubai’s key financial district for 2.3 billion dirhams ($626 million), in one of the largest such acquisitions. The tower is being acquired from Dubai developer H&H Development, which has built projects in DIFC, including the Four Seasons Hotel Dubai International Financial Centre. The project, with 40 floors of commercial and retail space, is set for completion in 2028. Aldar, 25%-owned by Mubadala and 26% by International Holding Company, reported nine-month 2024 net profit of AED 4.6 billion, up 52% year-on-year. The developer has projects across the UAE, Egypt and London. H&H Development, founded

Dubai’s real estate market has enjoyed another busy month, recording a total of 13,502 property sales with an overall value of AED40 billion in November. A market update issued today by fäm Properties showed that apartment sales worth AED19.9 billion rose 31.2% in volume to 10,857 compared with the same month last year. November also generated 1,903 villa sales for AED10.2 billion as well as 387 plot sales worth AED8.1 billion, although volumes were down 35.8% and 39.6% respectively on the same month in 2023. Meanwhile, 354 commercial property transactions amounted to AED1.3 billion, an increase of 5% in volume compared with November

House prices across Dubai currently stand 19.9% higher than they were at this time last year and with no let-up in demand, residential values are expected to climb by a further 8% during 2025, according to global property consultancy, Knight Frank's Middle East Residential Agency team, which is detailed in Knight Frank's Dubai Residential Market Review: Special Edition. Dubai's residential market continues to experience exceptional demand, as evidenced by the surge in property transactions throughout 2024. In Q3 2024, the number of transactions reached a record-breaking 47,269, the highest quarterly figure on record. This marks a 41.8% increase compared to the same