Latest news with #Dh6.3
Al Etihad
15-07-2025
- Business
- Al Etihad
Investors back Abu Dhabi's diversified realty sector as turnkey homes win market favour
16 July 2025 00:45 ISIDORA CIRIC (ABU DHABI)Abu Dhabi's property scene is steadily shifting in favour of ready-to-move-in homes, with buyers increasingly eschewing off-plan purchases for the certainty of completed units. Recent data suggests that sales of completed units now account for the majority of transactions – over 66% – with experts saying the shift is both behavioural and structural, and likely to its latest report on the emirates residential real estate sector, Cavendish Maxwell recorded 900 transactions for ready properties worth Dh2.3 billion, compared with just 400 off-plan deals in Q1 2025. This follows a full-year share of 61.5% for completed units in Q4 2024, according to ValuStrat data from Bachani, Co-Founder of Merlin Real Estate, said that while short-term supply constraints have driven some of this demand, the real change is behavioural - buyers now prize the tangibility and immediacy of turnkey homes over the uncertainty of off-plan projects.'In the short term, the limited availability of completed units has increased demand for ready-to-move-in properties. However, there is also a clear long-term trend emerging, where buyers are increasingly prioritising tangible, completed assets over the uncertainties associated with off-plan purchases,' he told Maxwell data also revealed that, while ready property volumes and values were up compared to the same period last year, off-plan activity dropped both year-on-year and quarter-on-quarter, driven in part by a slowdown in new launches. The average ticket price on ready sales also hit Dh2.5 million – the highest recorded value since Q1 these findings suggest that Abu Dhabi buyers' growing appetite for turnkey homes is not slowing down.'This trend appears to be more than just a temporary response to supply constraints but rather a shift in buyer behaviour that is likely to persist moving forward,' Bachani Laver, Cavendish Maxwell Associate Director - Abu Dhabi, sees the same pattern emerging.'The UAE capital is seeing a notable shift towards the secondary residential market, with sustained demand for ready homes and fewer off-plan project launches compared to previous quarters,' he added that the three-year-high average ticket price on ready homes demonstrates 'encouraging signs of broader price appreciation', a trend he also expects will continue in the coming luxury market isn't losing steam either. Abu Dhabi's ultra-premium residential space is now boosted by global brands, with projects bearing the names of Waldorf Astoria, Brabus and The W entering the market. The capital recorded Dh6.3 billion in luxury property sales in the first four months of 2025, with branded launches increasing fourfold year-on-year, according to Metropolitan Capital Real says the city's less headline-grabbing segments are next in line. He predicts that as the expatriate population grows, 'reasonably priced mid-market properties are likely to receive more focus in the next cycle' as developers try to rebalance their pipelines.'While luxury properties are currently a key driver of growth, there is a strong recognition among developers of the ongoing demand for mid-market housing. The mid-market offers a consistent demand, making it an attractive avenue for sustainable growth,' he balance between showpiece developments and the quieter resilience of the mid-tier is helping the market mature and expand without overheating, and investors are average transaction value in Q1 reached Dh3.7 billion across 1,300 transactions. Apartment prices were up 12.3% on last year, and 4% quarter-on-quarter, and villas 12.5% and 2.4% Maxwell data also revealed that around 11,900 new homes will be delivered in Abu Dhabi by the end of 2025 - on top of the 600 already delivered during Q1 - with another 7,000 in the pipeline for it's not just pricing that's fuelling confidence. Buyers are encouraged by macroeconomic stability, strong project delivery track records, and greater regulatory clarity, all of which are helping the market absorb incoming perception is supported by policy measures ranging from long-term visa schemes to flexible payment plans for property buyers, many of which were introduced in recent years to improve market transparency and attract international interest.'Abu Dhabi's commitment to sustainable development, transparency, and investor-friendly policies further strengthens confidence in its real estate market, positioning it as a prime destination for both regional and international investors,' Bachani it seems like the current momentum is exposing undervalued corners of the market that investors would do well to watch.'At present, the high-end rental market and mixed-use developments are significantly undervalued. Office occupancy rates in Abu Dhabi have exceeded 94%, with city-wide office rents rising by 15% year-on-year,' Bachani ahead to late 2025 and beyond, he predicts that serviced apartments, branded residences and mixed-use hubs will deliver the next wave of returns. 'Investors should also consider opportunities in serviced apartments and integrated mixed-use communities that offer both residential and commercial amenities. These types of developments align with Abu Dhabi's long-term vision for sustainable urban growth and are likely to experience increased demand in the coming years.'
Khaleej Times
16-03-2025
- Automotive
- Khaleej Times
Dubai: Number plate DD5 sells for Dh35 million in bidding war; special mobile number gets Dh1.7 million
The number plate DD5 was sold for a staggering Dh35 million at the 'Most Noble Number' auction held on Saturday evening in Dubai. Starting at a base price of Dh15 million, the plate saw more than 20 people bidding on it until it was scooped up by Muhammad BinGhatti, chairman of Binghatti Holding, with his bid panel number 7. 'This is the legend, this is the man,' said the host before confirming the number had been sold. The sale came at the end of a fierce bidding war where one of the youngest bidders in the hall, 13-year-old Abdulkader Walid Asaad, was in the running to buy the plate. Even though he could not beat the top bid, Abdulkader became the proud owner of another number plate during the evening, DD24, which was sold for Dh6.3 million. The annual auction held during the holy month of Ramadan to raise money for the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) saw a packed hall of collectors vying to get their hands on 25 lots of distinguished mobile numbers and vehicle number plates at the Armani Dubai hotel in Burj Khalifa. The evening managed to raise a total of Dh83,677,000. Proceeds of the auction will go towards supporting the Fathers' Endowment campaign, launched by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, in honour of fathers in the UAE. The drive will establish a sustainable endowment fund to provide treatment and healthcare for the poor and needy. In 2023, the same event saw one bidder set a world record by snapping up the number P7 at Dh55 million, which is still believed to be one of the most expensive number plates ever sold in the world. Other numbers The number plate DD77, which was one of five number plates up for grabs during the evening, was sold for Dh12.6 million while DD12 sold for Dh12.8 million. DD15 was sold for Dh9.2 million. Attended by entrepreneurs as well as philanthropists, the auction saw fierce bidding as participants raced to support the aims of the Fathers' Endowment campaign. Operating under the MBRGI's umbrella, the campaign honours fathers by allowing individuals to donate in their name, in an effort to promote the values of honouring parents, compassion and solidarity. Held in collaboration with by Dubai's Roads and Transport Authority (RTA), Etisalat by e&, Du and Emirates Auction, the event also saw the mobile number 058444444 being sold for Dh1.7 milion. It became the most expensive phone number sold during the evening. A total of 10 numbers each of Etisalat and du were sold during the night. During the course of the auctions, RTA plate numbers earned Dh75.9 million, while Dh4.732 million was collected by selling Etisalat UAE mobile numbers and Dh3.045 million from du mobile numbers. Apart from the physical auction in Dubai, the Most Noble Number online charity auction continues to attract bids. Organized by the Integrated Transport Centre (Abu Dhabi Mobility), which operates under the Department of Municipalities and Transport in Abu Dhabi, it features 444 special plate numbers and will close on March 16 and 17. These numbers include vehicle plate numbers 10 (plate code 20) and 99 (plate code 2); motorcycle plate number 5 (plate code 1); as well as several special plate numbers for classic cars.
