As 2018 is drawing to a close, the UAE real estate market gears up for the new year ahead. With Expo 2020 approaching, there have been exciting developments and announcements in the UAE property market. Get updated on the biggest headlines in the UAE property news sector in November 2018.
Top UAE PROPERTY NEWS STORIES FROM NOVEMBER 2018
Emaar Announces New Golf Villas Near Expo 2020 Site
Emaar’s new project has been making waves in the UAE property news. The leading developers announced the release of the new Expo Golf Villas, located in Emaar Boulevard South. The project’s announcement comes in the wake of growing demand for homes near the Expo 2020 site.
Emaar’s new project is strategically located near the Championship Golf Course, upcoming Al Maktoum Airport and the Expo 2020 site. It’s expected to appeal to professionals working in the hubs of Logistics District, Aviation District and Business Park.
The Expo Golf Villas are located in the lush green community of Emaar South. These 3-bedroom and 4-bedroom villas come with a host of amenities. These include outdoor pools, lawns, kids’ play area, while being close to parks and the community centre. If you’re interested in buying an off-plan villa in Expo Golf Villas community, prices start from AED 981k for a 3-bedroom villa, as per Bayut’s current listings.
wasl Crystal Apartments in Al Quoz Announces Completion
Another project that has entered the UAE real estate market is wasl Crystal apartments. Last month, wasl Properties announced the completion of its new project in Al Quoz, which will add 306 housing units to the area. Featuring studios to 3-bedroom apartments, wasl Crystal has made the UAE property news for its value housing options. wasl Properties says it aims to meet the demand for a variety of housing options in Dubai with its latest project.
The wasl Crystal apartments are expected to attract families, who will benefit from the easy access to Al Khail Road, and its proximity to schools and Al Khail Mall. The apartments also come with high-quality fittings and furnishing, and with gym facilities for men and women.
Handover Begins for Damac Towers by Paramount in Burj Area
Next on our recap of UAE property news is the start of the handover phase for the stylish Damac Towers by Paramount. Damac says that three residential buildings of the four-tower development are welcoming residents now. Situated in the premium Burj area in Dubai, the residential and hotel complex aims to give residents Hollywood-inspired fashionable living in the city.
The three towers entering handover phase consist of 1,200 luxury serviced suites. The fourth tower will include the glamorous Paramount Hotel along with a collection of exclusive residences. All the towers will be joined by a multi-level plaza, and will have easy access to pools, health clubs and F&B outlets, too. For those interested in buying an apartment in these high-end residences, prices start from AED 733k for a studio apartment.
Dubai to get the World’s Largest Sports Mall
The announcement of the world’s largest sports mall in Dubai, expected to open in 2020 dominated the UAE real estate news last month. Dubai-based developers Viva City have confirmed that the commercial sports mall will be a three-storey structure with an area equivalent to 12 football fields!
The mall, Sport Society, will offer visitors an exceptional experience that will combine shopping, entertainment and sports. International brands, a range of organic restaurants and cafes, and spaces for different sports activities is what can be expected. Similar to the Dubai Fitness Challenge, Sport Society aims to create active spaces for the UAE’s residents. The ground floor will be the highlight of the mall, with space to organise sporting events. Sport Society will also a screen for international sporting tournaments and matches. It will use one of the largest LED display panels to provide visitors with a viewing experience like no other.
Sport Society is a unique addition to the UAE real estate market. It will be situated close to Deira City Centre with easy access and ample parking.
Meraas Begins Work on the Third Phase of The Yard
Dubai’s popular lifestyle destination, The Yard, headlined the UAE real estate market news as developers Meraas begin work on its third phase. Slated to be completed in Q4 2019, The Yard in Al Khawaneej will undergo an 18,580 sqm expansion. Aiming to be a social hub for family and friends, the new phase will delight visitors with indoor and outdoor attractions.
Visitors can expect a variety of fashion brands, restaurants and cafes, service providers along with a gym and health care centre. The highlights of the new phase will be a curated hypermarket by Geant and a premium Roxy Cinemas.
Al Rakha Wins AED 335M Contract for Alghadeer By Aldar Properties
Featuring next on our roundup of UAE property news is Al Rakha Contracting and General Transport’s appointment as the main contractor for phase two of Alghadeer. Al Ghadeer is a mammoth project by Aldar Properties worth AED 10bn and is located between Abu Dhabi and Dubai. Al Rakha’s contract with Aldar is worth AED 335m. It will see them constructing 707 maisonettes, townhouses and villas for the phase two’s infrastructure buildings.
Aiming to be the ultimate sustainable destination, Alghadeer will be home to 14,000 residential units, properties along with cultural institutions, entertainment and attractions to be built over the next 15 years. iF you’d like to buy a property in Al Ghadeer, prices start from AED 290k, as per Bayut’s listings.
Azizi Developments Appoints Prestige Construction for AED 200M Contract
Our final feature for property news in the UAE concerns another highly-anticipated development in Dubai. The last month has seen many appointments of contractors for well-known projects in the UAE, and Farhad Azizi Residence is no different. Azizi Developments awarded the AED 200m contract to Prestige Construction for its new project in the Dubai Healthcare City. Farhad Azizi Residences was launched following the success and demand for Azizi Development’s first residential project in the area. Scheduled for completion in 2020, Farhad Azizi Residences will comprise of 634 premium homes, ranging from studios to 2-bedroom apartments.
Designed in a sleek, contemporary style, Farhad Azizi Residences is located close to landmarks like the Dubai Creek, Wafi Mall, Dubai International Airport and more. Residents will also benefit from the easy access to major road links like Al Khail Road. Interested in buying an apartment at Farhad Azizi Residences? Prices start from AED 263k for a studio, as per Bayut’s current listings.
ph real estate wins the bayut premier cup 2018
Bayut brought the best real estate agencies in Dubai to compete in a fierce football competition, Bayut Premier’s Cup. The two days of action-packed matches were held on 1 and 8 November at Sportsmania JLT. After an intense round of matches, PH Real Estate won the tournament to become the Bayut Premiere Cup 2018 Champions! Get all the thrilling details on our recap of the Bayut Premier Cup 2018 Championship.
And that wraps up our recap of the biggest UAE real estate news in November 2018. We hope you’re enjoying the long National Day weekend! Why not take a look at Bayut’s guide to the hottest places to celebrate the 47th UAE National Day? And follow MyBayut for more insights into the UAE property market.