Latest news with #Dh28
Khaleej Times
2 days ago
- Business
- Khaleej Times
UAE rents have risen by almost a quarter over the last 10 years
Rental rates across the UAE have risen by an average of 23.6 per cent over the past ten years, recent data shows. According to research by Property Finder, a real estate portal, between November 2023 and November 2024, the average rental price increased by 23.6 per cent across the country. The average rental price increased by 33.0 per cent over five years (November 2019 to November 2024), driven by an influx of expatriates and an increase in rental contracts. Rental properties continue to be popular across the UAE. For many residents, especially expats, renting offers flexibility without the long-term commitment of ownership. While property prices have risen in some areas, renting often remains the more affordable option, especially for those prioritising location or lifestyle amenities. Many people also value the convenience of renting, with maintenance typically handled by landlords or property managers. This makes it easier to manage day-to-day life. However, rental demand tends to vary across the UAE, with certain communities offering these benefits and more. UAE's top rental hotspots As of June 2025, Dubai garnered the most searches for apartments for rent on Property Finder. Sharjah and Abu Dhabi ranked second and third, respectively, in terms of page views, according to internal data on Property Finder. Jumeirah Village Circle (JVC) has the highest number of page views for apartments for rent among the Dubai communities, with 214,607 page views. Jumeirah Beach Residence (JBR) stands out with 4,910 listings marked as favorites on Property Finder, more than any other area in the city. Dubai dominates the market in terms of both rental activity and property availability, showcasing the high demand for apartments for rent in Dubai. The communities with the most rental properties in Dubai are: JVC (9,092), Business Bay (5,631), Downtown Dubai (5,541) and Dubai Marina (4,933). Of these popular rental communities, apartments make up an average of 96 per cent of the available units on Property Finder, highlighting the demand for apartments in Dubai. The average yearly rent across all communities is approximately Dh86,222. Palm Jumeirah stands out as the most expensive community, with an average annual rent of Dh170,000. Al Nahda, a community in Sharjah, has the lowest average yearly rent at Dh43,000. Dubai recorded its highest listing at Dh1,500,000 per year and its lowest at Dh28,000. The average rent is Dh90,000. Abu Dhabi's highest listing is recorded at Dh350,000 per year, and the lowest is Dh27,000. The average rent is Dh82,999. Rental prices in the UAE have seen strong growth over the short and long term. 'Rental activity across the UAE reflects broader trends that include growing expat populations, economic opportunities, and shifting preferences in housing. Dubai leads in volume and variety, while Sharjah and Abu Dhabi offer competitive alternatives. As 2025 unfolds, renters will continue to look for communities offering the best price, location, and lifestyle,' a statement said.
The National
7 days ago
- Business
- The National
Emirati housing and education funds launched
Two allowance funding schemes have been launched, one for housing and the other for education, by the Ministry of Community and Empowerment. The allowances have been set up to support the nation's Social Support and Empowerment Programme, a federal initiative providing monthly support to Emirati families with limited income. The housing allowance is intended for families enrolled in the programme who do not receive any form of government housing assistance. The amount is determined based on the family's size and living conditions, distinguished between those living independently and those sharing accommodation with other households. The allowance also includes flexible terms for orphans and children of individuals serving jail terms. What about the education allowance? The education, or academic excellence, allowance is aimed at high-achieving university students. Students enrolled in accredited higher education institutions in the UAE who maintain a cumulative GPA (the grade given per term) of 3.3 or higher are eligible to receive up to Dh3,200 per month. Students enrolled in accredited UAE institutions through remote learning are also eligible. How to apply Applications can be submitted through the ministry's official digital platform via the social subsidy service. All applications are processed within 21 days of submission. Stepping up support The employment programme is the latest step by the government to provide additional assistance to its citizens. In 2022, President Sheikh Mohamed announced a Dh28 billion ($7.6 billion) social support package to provide lower-income Emirati families with subsidies to pay for essentials including fuel, food and utilities. Under the move, annual financial support for eligible families was raised from Dh2.7 billion to Dh5 billion, with the total social support budget doubling from Dh14 billion. The UAE's social welfare programme for low-income citizens is available to Emirati families whose income is less than Dh25,000 ($6,800) a month. The programme offers Dh5,000 aid a month for citizens over the age of 45, housing allowance up to Dh2,500 a month, university education allowance of Dh3,200 a month to outstanding students and Dh5,000 a month for six months to those who are unemployed. In addition, the government offers an inflation allowance, which covers food, electricity, water and fuel costs.
Time of India
06-07-2025
- Business
- Time of India
Where to find affordable housing and studio rentals in UAE 2025: Best picks for bachelors, newcomers
In 2025, bachelors and newcomers can find studio rentals in the UAE ranging from Dh20,000 to Dh40,000 annually in key affordable areas./ Image composite: Property Finder, Marketplace With its ever-growing appeal to young professionals, job seekers, and first-time expatriates, Dubai continues to experience a surge in demand for affordable living options. In particular, bachelor-friendly studio apartments have become a top choice, offering newcomers a cost-effective way to settle in the UAE's bustling metropolis. However, with rental regulations tightening, especially on illegal partitioned spaces, finding affordable yet legal housing is becoming a challenge. Experts from Damac Properties and Keycraft Real Estate recently shared their perspectives on where to find affordable housing in Dubai and its neighboring emirates, such as Sharjah and Ajman. These insights will help those new to the UAE and budget-conscious individuals navigate their options in 2025. Key Affordable Studio Rentals in the UAE: What You Need to Know As rental prices continue to climb in Dubai, the search for budget-friendly housing can feel overwhelming. In a conversation with Gulf News, two industry experts, Roel Lacuesta, General Manager at Keycraft Real Estate, and Zaid Hamed El Khatib, Executive of Business Development at Damac Properties, shared their insights on affordable studio rentals for bachelors and newcomers in 2025. Lacuesta explained that studio apartments in Dubai generally range from Dh28,000 to Dh37,000 annually, offering a reasonable entry point for those looking to start fresh or job-hunt in the city. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why seniors are rushing to get this Internet box – here's why! Techno Mag Learn More Undo Meanwhile, El Khatib noted that studios in more budget-friendly areas typically range from Dh20,000 to Dh40,000 per year. These areas offer a mix of affordability, accessibility, and livability, making them attractive to young professionals and first-time renters. Lacuesta also emphasized that, with Dubai continuing to attract young professionals, it's essential to choose neighborhoods that offer both budget-friendly rents and good connectivity to the city. Some of the most popular and cost-effective areas for studio rentals include: International City: Dh26,000 – Dh36,000 – Known for its diversity and affordability. Deira: Dh20,000 – Dh35,000 – Offers central location and vibrant cultural experiences. Al Warsan & Al Warqaa: Dh22,000 – Dh32,000 – Quieter, emerging areas with affordable studio options. Dubai Sports City: Dh24,000 – Dh35,000 – Popular with students and active professionals. Dubai Silicon Oasis (DSO): Dh28,000 – Dh45,000 – A tech hub offering modern infrastructure. Al Nahda, Al Qusais & Bur Dubai: Dh32,000 – Dh40,000 – Well-connected areas with central access. Even in more premium neighborhoods like Damac Hills 1 and Jumeirah Village Circle (JVC), where amenities are more luxurious, studios still remain relatively accessible at about Dh50,000 annually. The Importance of Location and Public Transport Accessibility Location plays a crucial role when selecting affordable housing. Lacuesta emphasizes that proximity to public transport is one of the most important factors for budget-conscious renters. 'Affordable options for bachelors and job seekers tend to be in older or outer communities, where rents are lower. However, access to public transport is still essential. Living near a Metro or bus station can make a significant difference in convenience and reduce commuting costs,' said Lacuesta. He highlights the following neighborhoods for their excellent transport connectivity: Dubai : International City – Affordable, with good bus access. Al Qusais – Close to the Metro, older buildings with lower rents. Muhaisnah (Sonapur) – Very affordable, with many labor accommodations. Satwa, Deira, Al Rigga – Central locations offering shared accommodations. Sharjah : Al Nahda, Al Majaz, Rolla, Al Qasimia – Popular with newcomers commuting to Dubai. Ajman : Al Nuaimiya, Rashidiya, Al Jurf – Some of the cheapest rents in the UAE. Affordable living in these areas allows renters to maintain proximity to the heart of the city while reducing their transportation expenses. Flexible Living and Shared Spaces: Catering to Newcomers and Expats In 2025, flexible leases and shared living spaces are becoming more common, providing a viable option for newcomers who may not yet want to commit to long-term contracts. El Khatib mentions that co-living operators are filling the gap in the market for transient workers and expats. Areas like Dubai Marina, JLT, and Business Bay now feature monthly or quarterly rental agreements that often include furnishings, Wi-Fi, and utilities. 'Startups like Hive Coliv, Nomad Homes, and The Cohost are addressing the growing demand for flexible, community-based living options,' said El Khatib. "These setups are especially attractive to young professionals and expats who need short-term housing without a long-term commitment." Lacuesta agrees, noting that platforms such as Dubizzle, Property Finder, and Facebook Marketplace are flooded with listings for shared apartments, rooms, and even weekly stays. For those who are not yet ready for an annual lease, these options offer much-needed flexibility. For those seeking furnished, serviced co-living spaces, Nest by Arada and Uninest in Sharjah and Ajman offer fully furnished units with flexible terms. These spaces cater specifically to students and young professionals, providing a hassle-free living experience. What to Expect in Budget Studio Rentals When renting a budget studio, tenants can expect basic amenities and furnishings. According to both experts, typical budget-friendly studios include: Basic furnishings such as a bed, wardrobe, and kitchenette. Air conditioning (either split or window units). Utilities such as DEWA and internet are usually not included and are charged separately. Some buildings may offer shared amenities like gyms or swimming pools. Renters may need to pay a security deposit equal to one month's rent, which is usually refundable. A typical unfurnished budget studio can cost anywhere from Dh1,500 to Dh3,500 per month, depending on the location. For instance, Deira offers studios ranging from Dh2,800 to Dh3,500, while Sharjah's Al Nahda offers more affordable options, starting at Dh1,800 per month. One great deal found on Property Finder is a studio in Al Murar, near Diplomat Hotel, available for Dh26,000 per year. This unit is just 10 minutes away from the Metro and is surrounded by essential services like banks, restaurants, and clinics, making it ideal for job seekers looking for convenience and affordability. Key Considerations: Avoiding Illegal Partitions Both experts caution against opting for partitioned rooms, which are often found in high-density neighborhoods but may not meet safety standards or municipal regulations. These makeshift setups typically involve curtain partitions, violating housing codes and presenting safety risks. 'Always ensure that the property is Ejari-registered,' said Lacuesta. "If you're renting a full unit, confirm with the landlord whether partitions are officially approved." Final Thoughts: Balancing Budget and Accessibility Dubai's rental market continues to evolve, offering a wide range of affordable housing options, flexible lease terms, and community-focused living spaces. Whether you're a bachelor, job seeker, or newcomer, there are plenty of affordable neighborhoods and rental solutions available to suit your needs in 2025. Quick Tips for Newcomers: Use reliable platforms like Dubizzle, Property Finder, and Bayut to find verified listings. Prioritize living near Metro stations or bus routes for easy commuting. Consider co-living spaces for short-term flexibility. Always verify that shared rooms or units are Ejari-registered and meet safety codes. By being mindful of location, rental terms, and the amenities offered, you can find the right balance between budget and convenience in your new home in the UAE.
Al Etihad
26-05-2025
- Business
- Al Etihad
Abu Dhabi apartment rents saw 10% YoY rise in Q1 2025: Asteco report
26 May 2025 08:15 A. SREENIVASA REDDY (ABU DHABI)Abu Dhabi's real estate market sustained its upward momentum in the first quarter of 2025, with average apartment rents climbing 10% year-on-year (YoY) and 4% quarter-on-quarter (QoQ), according to the latest market report from real estate consultancy report noted particularly robust growth in the high-end rental segment, where rates increased between 8% and 12%. The mid-tier market also recorded solid gains, with rents rising between 5% and 8%. 'This widespread positive performance, characterised by increasing rents and high occupancy, underscores the fundamental strength and consistency of demand within Abu Dhabi's residential sector,' Asteco said in the the rise in rentals, some low-end apartments remain relatively affordable on Abu Dhabi Island. In areas like Al Khalidiyah and Al Bateen, studio apartments are available for Dh25,000 to Dh35,000 annually, while one-bedroom units range from Dh28,000 to Dh45, Central Abu Dhabi and the Corniche, studios are priced between Dh30,000 and Dh35,000 per year, and one-bedroom apartments can be rented for Dh40,000 to Dh50,000 the healthy rental gains, supply continues to come online at a steady pace. In Q1 2025 alone, approximately 1,200 new residential units were delivered across developments including Jubail Island, Bloom Living – Cordoba Phase 1, Al Jurf Gardens in Ghantoot, Al Raha Beach and Rawdhat Abu Dhabi. The total number of new residential handovers for 2025 is expected to reach 5,500 units, concentrated in key investment zones such as Yas Island, Masdar City, Saadiyat Island and Al Reem to Asteco data sheet, 700 new apartment units and 500 villa units were completed in Abu Dhabi during the first quarter of 2025. This follows the completion of 2,850 apartments and 2,750 villas in 2024. By the end of 2025, total completions are projected to reach 4,000 apartments and 1,500 villas, reflecting a continued expansion in residential supply across the office sector is also gearing up for fresh supply, with the Quartz Tower on Yas Island set to be delivered in Q2, and other major projects like Shams Tower, The Link, and City Square in the pipeline for late 2025 into terms of sales, the market saw 8,700 residential transactions between March 2024 and March 2025. These included 4,100 off-plan deals and 4,600 sales of completed units, which comprised 3,250 apartments and 1,350 villas and townhouses. Notably, transactions for completed properties grew by 6% QoQ and surged 42% YoY reflecting strong demand from both investors and prices also showed a healthy upward trajectory. Apartment prices rose 4% on QoQ and 7% YoY, with high-demand areas seeing annual gains of over 15%. Villa prices increased by 4% QoQ and 8% YoY, with premium locations such as Saadiyat Island registering annual gains exceeding 15%.Asteco observed that 'well-located villas within prime communities continue to outperform the market average', underscoring the premium that buyers place on quality and launches performed strongly, with high absorption rates within weeks of release. 'This reflects sustained buyer confidence in the long-term value and appeal of new developments,' the report noted. Going forward, Asteco said that the Abu Dhabi real estate market remains 'well positioned for continued positive performance in the near to medium term'. Although new supply may moderate the pace of growth in rentals and values, overall market momentum is expected to remain intact, with further upside potential for both capital and rental values.
Al Etihad
13-03-2025
- Business
- Al Etihad
Aldar subsidiary raises $500m through green sukuk
13 Mar 2025 22:04 ABU DHABI (ALETIHAD)Aldar Investment Properties (AIP), a subsidiary of Aldar Properties (Aldar), and owner-manager of Dh28 billion portfolio of income-generating properties, has successfully raised $500 million through a 10-year green sukuk. The issuance saw overwhelming investor demand, with an order book exceeding $3.6 billion, making it 7.2 times oversubscribed, a statement from Aldar said. Regional investors accounted for 61% of allocations, while international investors took up the remaining 39%.With a 5.25% coupon rate, the sukuk was competitively priced at a spread of 110 basis points over 10-year US Treasuries. It follows a similar green sukuk issued in May 2024 when Aldar achieved its lowest-ever spread for a public debt issuance. The strong investor demand was supported by Moody's reaffirmation in January of investment-grade ratings of Aldar and AIP of Baa2 and Baa1 respectively, with a stable outlook. The transaction marked the company's third green sukuk issuance under its $2 Billion Trust Certificate Issuance Programme launched in May Falaknaz, Chief Financial and Sustainability Officer at Aldar Properties, commented: 'Aldar's ability to consistently achieve a favourable cost of capital, even in the context of global market volatility, underscores the strength of our financial position and disciplined capital management. The strong demand for our latest green sukuk is a clear sign of investor confidence in our strategy and commitment to sustainable growth.'Proceeds will be deployed in accordance with Aldar's Green Finance Framework, which guides a broad programme of sustainability initiatives, including Aldar's ongoing investments in optimising energy efficiency. To date, Aldar has invested over Dh150 million in retrofitting 67 properties with new measures designed to optimise energy efficiency and reduce new issuance supports the early redemption of a sukuk maturing in September 2025 and the repayment of outstanding bank debt.
