Dubai records AED 8 billion of weeklong real estate transactions

DUBAI, Dubai has recorded 2,624 real estate and properties transactions at a value of AED 8 billion in total during the week ending 24th June 2022.

The DLD report said that 274 plots were sold for AED 1.15 billion, while apartment and villa sales totalled 1,757 at a value AED 4 billion.

The top three transactions were a land in Palm Jumeirah sold for AED 126.25 million, followed by a land that was sold for AED 52.53 million in Al Thanayah Fourth, and a land sold for AED 26 million in Umm Suqeim Third.

Al Hebiah Fifth recorded the most transactions for this week with 154 sales transactions worth AED 333.49 million, followed by Jabal Ali First with 29 sales transactions worth AED 88.95 million, and Al Merkadh with 17 sales transactions worth AED 130 million in third place.

Meanwhile, Burj Khalifa came in first in terms of number of transfers for apartments and villas recording 223 transactions worth AED 632 million, with Marsa Dubai ranking second with 173 transactions worth AED 527 million, and Al Jaddaf in third with 151 transactions worth AED 203 million.

The sum of the amount of mortgaged properties for the week was AED 2.73 billion.

77 properties were granted between first-degree relatives worth AED 151 million.

Source: Emirates News Agency

Six key factors boosting tourism sector’s attractiveness for summer 2022

ABU DHABI, The UAE is expecting a busy summer season, which will reinforce the country’s stature on the world tourism map as one of the most attractive destinations in the world.

In this report, the Emirates News Agency (WAM) highlights several advantages offered by the country.

Six major factors will boost the tourism sector in the following months, including the aviation sector’s efficiency, the tourism sector’s competitiveness, the health sector’s stability and many tourism options provided by the country.

Aviation sector The UAE’s aviation sector has returned to normalcy to pre-pandemic levels, recording the same figures as in 2019 and previous years. Dubai International Airport announced its readiness to receive 2.4 million passengers from 24th June to 4th July, bringing the average number of daily passengers to 214,000. Etihad Airways is also preparing to receive large numbers of passengers at Abu Dhabi International Airport between 30th June and 15th July, 2022, according to a recent press release.

The Ministry of Economy’s figures confirm that the UAE’s tourism sector has entered the stage of recovery, and hotel establishments recorded AED11 billion (US$2.99 billion) in revenues in the first quarter of 2022, a growth rate of 20 percent compared to the same period in 2019, while the occupancy rate of hotels reached 80 percent in the same period, attracting nearly 6 million visitors who spent 25 million hotel nights, an increase of 10 percent compared to the same period in 2019.

Safe health situation The UAE is currently considered a safe destination for many tourists worldwide, given the significant international confidence in the country, after the way it handled the COVID-19 pandemic and the considerable resources employed as part of the precautionary measures. Moreover, the country was ranked in leading positions in terms of vaccination rates and COVID-19 testing.

Tourism and residence visas The multiple-entry tourist visa system currently adopted by the UAE, which is valid for five years, is one of the main factors that will support the tourism sector in the coming period. It is aimed at increasing the number of tourists visiting the country from around the world.

The country has recently unveiled a wide variety of residency options, becoming one of the most flexible countries in terms of residence and tourism.

Various options In recent years, the summer season has become a major holiday season, due to the big shopping malls that house the most famous international brands and are fully covered and air-conditioned entertainment cities, along with heritage areas that were recently restored to receive visitors all year long.

Hotel sector’s competitiveness The international competitiveness of the UAE’s hotel sector is a key driver for the recovery of the summer tourism season. At the end of 2021, the number of hotels around the country totalled 1,144.

Hotels in the UAE offer a package of incentives and discounts during the summer season, including price reductions on reservations and value-added offers, and they also organise many recreational and sporting events that offer distinctive tourist experiences for all family members.

Summer events The country’s summer events help promote local tourism and attract foreign visitors.

On 1st July, 2022, Dubai will launch the 25th Dubai Summer Surprises 2022, which will involve a 10-week events schedule that includes shopping offers, hotel incentives, and various food experiences and entertainment events.

Abu Dhabi will also host the Abu Dhabi Summer Pass, which will include unique offers covering tourism experiences, cultural locations and family entertainment.

The public is also awaiting the annual Sharjah Summer Campaign, which will include exclusive touristic offers.

Source: Emirates News Agency