Latest news with #AED5
Sharjah 24
03-07-2025
- Business
- Sharjah 24
Arada sells signature penthouse at Akala for AED125m
Spanning two floors at the top of one of Akala's 220-metre twin towers, The Observatory offers panoramic, unblocked views of the Burj Khalifa, Downtown Dubai, DIFC and the Zabeel area. Featuring six bedrooms, The Observatory is also notable for a number of design features including an expansive Grand Room that showcases the views, public and private wings, an art gallery and a rooftop terrace with private pool and jacuzzi. 23,000 square feet in size At over 23,000 square feet in size, The Observatory is larger than any apartment ever sold in the DIFC, and is also the biggest apartment sold in Dubai so far this year. Located between Index Tower and Central Park Towers, the AED5 billion Akala project is underpinned by a precision wellness ecosystem that integrates advanced diagnostics, performance therapies and a curated hospitality model to deliver measurable health outcomes. Ahmed Alkhoshaibi, Group CEO of Arada, said: 'We have positioned Akala as the world's most advanced wellness residences, and this sale underscores the strength of demand for a new category of real estate, which is intentional, intelligent and focused on long-term wellbeing. In addition, the high value of this penthouse, which is rare for a non-waterfront property, speaks to the strength of Akala's location, product quality and brand positioning.' 534 branded residences at Akala The 534 branded residences at Akala, as well as the ultra-luxury five-star hotel located in the same complex, incorporate built-in wellness features, including air and water purification systems, circadian lighting, organic sleep systems and intelligent climate zoning. Shared amenities span more than 13,000 square metres and include a clinical wellness centre, spa, high-performance gym and studios, as well as the Akala Spa. Akala also features a unique 'weightless' service environment, combining AI-enabled hospitality, wellness concierges, in-home treatments and curated meal plans. Akala is LEED Gold and WELL Silver precertified and is the first location in a global pipeline of wellness-focused residences and retreats planned under the Akala brand. Construction on Akala will begin in 2026 and is scheduled to be completed by the end of 2029.
Business Recorder
03-07-2025
- Business
- Business Recorder
Dubai property: preferential rates, priority access for first-time buyers
Dubai on Monday launched the 'first-time home buyer programme' through which units valued up to AED5 million ($1.4m) will be offered at preferential rates. The initiative is backed by the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET). As per DLD's website, perks include priority access to newly launched units from real estate developers, preferential prices on units reserved by program participants, flexible payment plans for registration fees through eligible credit cards, and competitive mortgage offers from banks. Pakistanis among top 5 buyers of real estate in Dubai, Indians top list Developers supporting the initiative include Emaar, Nakheel, Meraas, DAMAC, Azizi, Dubai Properties, Binghatti, and others. Meanwhile participating banks — Commercial Bank of Dubai, Dubai Islamic Bank, Emirates NBD, Emirates Islamic and Mashreq — will provide customised mortgage solutions. 'A city for everyone': Dubai announces 17,000 affordable homes Open to all UAE residents aged 18 and above who do not currently own a freehold residential property in Dubai, the programme 'aims to promote social inclusion, encourage long-term investment and contribute to community resilience.' Helal Saeed Almarri, Director-General of DET, said the programme will stimulate demand and liquidity in the real estate sector, enhancing Dubai's global competitiveness and offering a sustainable model for urban development. Dubai property market 'shatters records' with AED 66.8bn of transactions in May: report In order to apply, residents must register via the DLD website or the Dubai REST app and submit the required information. If eligible, they will receive a confirmation email from DLD containing a QR code, which can be used to access programme benefits through participating developers and banks
Hi Dubai
03-07-2025
- Business
- Hi Dubai
Dubai Launches First-Time Home Buyer Programme to Boost Property Ownership and Economic Growth
Dubai has unveiled a major new initiative to support first-time property buyers, offering Emiratis and expatriates easier access to homeownership through preferential pricing and customised mortgage solutions. Launched jointly by the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET), the First-Time Home Buyer Programme is designed to stimulate real estate demand and contribute to the emirate's long-term economic agenda. The initiative supports the Dubai Real Estate Strategy 2033 and the D33 Economic Agenda, which aim to double the real estate sector's contribution to GDP. The programme provides early access to new property launches, discounted unit prices, and mortgage products tailored by participating banks including Emirates NBD, Mashreq, and Dubai Islamic Bank. Properties priced up to AED5 million from developers such as Emaar, DAMAC, Nakheel, and Azizi will be available under the scheme. Available to all UAE residents aged 18 and above who do not currently own a freehold residential property in Dubai, the programme is part of a wider push to promote social inclusion, economic resilience, and community development. Senior officials including Majid Al Marri of DLD and Hadi Badri of DET announced the initiative at a press event, highlighting its potential to drive sustainable urban development and strengthen Dubai's position as a global real estate hub. Helal Saeed Almarri, Director-General of DET, noted that the programme would increase market liquidity and investor confidence. Omar Bu Shehab, Director-General of DLD, called it a strategic step towards a more inclusive and transparent property market. News Source: Emirates News Agency
Dubai Eye
03-06-2025
- General
- Dubai Eye
UAE's midday break for outdoor work begins June 15
The annual mid-day break, which restricts outdoor work between 12:30 pm and 3:00 pm, will come into force on June 15, the Ministry of Human Resources and Emiratisation (MoHRE) announced. It will end on September 15, the ministry added. The summer mid-day break is now in its 21st year, and is part of the UAE's efforts to provide a safe work environment during the summer months. Workers must have access to shaded areas during off-duty periods that has cooling equipment such as fans, sufficient access to drinking water and first-aid kits. Those caught violating the rule will be fined AED5,000 for each person found working during the break hours and up to a maximum of AED50,000 if the case involves multiple workers. Exceptions will apply to work that demands continuity, like asphalt mix laying and concrete pouring, and repair work that concern interruptions to water supply lines, power outages, traffic disruptions and other essential services. The exception also includes work that require a permit from a competent government authority due to their impact on traffic and public life. Mohsen Al Nasi, Assistant Undersecretary for Inspection and Compliance Sector at the Ministry, said regular field visits will be conducted to check if companies are following the rules. MoHRE called on community members and workers to report any violations by contacting its call centre at 600590000 or through the MoHRE app and website.
ARN News Center
03-06-2025
- General
- ARN News Center
UAE's midday break for outdoor work begins June 15
The annual mid-day break, which restricts outdoor work between 12:30 pm and 3:00 pm, will come into force on June 15, the Ministry of Human Resources and Emiratisation (MoHRE) announced. It will end on September 15, the ministry added. The summer mid-day break is now in its 21st year, and is part of the UAE's efforts to provide a safe work environment during the summer months. Workers must have access to shaded areas during off-duty periods that has cooling equipment such as fans, sufficient access to drinking water and first-aid kits. Those caught violating the rule will be fined AED5,000 for each person found working during the break hours and up to a maximum of AED50,000 if the case involves multiple workers. Exceptions will apply to work that demands continuity, like asphalt mix laying and concrete pouring, and repair work that concern interruptions to water supply lines, power outages, traffic disruptions and other essential services. The exception also includes work that require a permit from a competent government authority due to their impact on traffic and public life. Mohsen Al Nasi, Assistant Undersecretary for Inspection and Compliance Sector at the Ministry, said regular field visits will be conducted to check if companies are following the rules. MoHRE called on community members and workers to report any violations by contacting its call centre at 600590000 or through the MoHRE app and website.
