Category: News

The digital real estate platform “DARI,” part of the Abu Dhabi Department of Municipalities and Transport, has announced 12 new real estate projects in Khalifa City, which will add 3,541 new residential units and villas to the area. These projects, developed in collaboration with various real estate companies, have completion rates ranging from 7.2% to 100%.

The platform highlighted three projects by Reportage Prime Real Estate, which include 829 residential units across “Plaza,” “Al Waha Residential 2,” and “Leonardo Residence.” The “The Gate Residential” project offers 463 units, with a completion rate of 91%.

The “Al Mahra Residence” project by Siyada International Real Estate will provide 297 new units, with a completion rate of 51.83%.

The “Al Forsan Village” project by Al Forsan Real Estate includes 466 units, while Aldar Properties is delivering three projects: “Al Mureef” with a 100% completion rate; “Golf Gardens,” offering 394 units; and “Al Raha Gardens,” with 657 units.

The “Al Waha Residential” project by Elegance Real Estate includes 612 units, all completed. Additionally, Abu Dhabi Future Energy Company has two projects in Masdar City, both fully completed.

Abu Dhabi, UAE: ThinkProp Real Estate Training Institute, launched by Advanced Real Estate Services (ADRES), has signed a cooperation agreement with the National Association of Realtors (NAR), America’s largest trade association for professionals working in the real estate industry.

The agreement centers on promoting high standards of professionalism in the real estate industry, supporting ThinkProp’s commitment to establishing a trusted real estate market powered by knowledge and technology.
Under the terms of the agreement, the two parties will facilitate business opportunities for their members to enter the real estate market and promote trust and increase investment in the region. This will be achieved by exchanging insights and best practices, which address internal and external investment trends in real estate, policy, legislation or economic developments affecting real estate, national housing developments, and other topics related to the business of real estate in the two countries.

In addition, ThinkProp and NAR will host Real Estate conferences, networking opportunities and coordinate trade missions to connect real estate professionals in the UAE and the US, to uncover business opportunities in the real estate market that bring about mutual benefits. The two parties will also raise awareness on major educational real estate courses, promote private property rights in international forums and support the United Nations’ efforts to achieve adequate shelter for all.

Moath Maqbol, General Manager of ADRES, said: “We are thrilled to be partnering with the National Association of Realtors to contribute to building a professional and trusted real estate sector in the UAE and the US. Through this partnership, we provide thousands of real estate professionals with an opportunity to gain market insights, collaborate, and unlock opportunities.”

“At ThinkProp, we actively seek out leading partners to drive innovation and excellence in real estate. By combining our knowledge, expertise and network, we can contribute to propelling the real estate sector forward. We look forward to working closely with the National Association of Realtors to achieve our shared goal of advancing the real estate industry,” added Maqbol.

Tracy Kasper, President of the National Association of Realtors, said: “This agreement solidifies our shared commitment to expand international opportunities for REALTORS® and advance our industry and best practices around the globe. We value ThinkProp’s commitment to elevating the professionalism of their members through education and training which we believe is a big factor that distinguishes our members from their competitors, and assures consumers that they can trust and rely on their REALTOR®”

ThinkProp Institute, the first-of-its-kind in the region, provides world-class knowledge and skills for individuals interested in working in the real estate sector. ThinkProp aims to develop the real estate sector with a knowledge-based methodology by providing flexible learning methods at reasonable prices. This supports the Institute’s vision of becoming the first and leading accredited real estate training institute in the UAE and one of the main education focus players within the UAE.

NAR is an association established for the purpose of raising the standards of real estate practice and preserving the right of property ownership in the interest of the public welfare. It represents more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.

Abu Dhabi: Sheikha Al Naqbi

The value of real estate transactions in the Emirate of Abu Dhabi since the beginning of this year until last week reached 52.6 billion dirhams through 13,643 sales and mortgage transactions, according to the “Dari” platform of the Department of Municipalities and Transport in Abu Dhabi.

The platform explained that the value of sales during the same period amounted to 32.6 billion dirhams through 8,889 sales transactions, including 6,038 off-plan sales transactions and 2,851 ready properties.

The results of the real estate market indicators revealed that the real estate sector in the emirate recorded AED 20 billion in mortgage value through 4,754 mortgage transactions.

The projects, which are among the largest transactions by value on the platform last week, included 5 off-plan projects and 5 completed real estate projects, with a total value of AED 35.3 million. The projects are located in areas such as Yas Island, Baniyas, Saadiyat Island, Reem Island, and Al Muntazah.

Three projects by Aldar Properties topped the list of the highest-value transactions last week. Leading the list is the “West Yas” project on Yas Island, featuring a five-bedroom villa valued at AED 5.26 million. The second is “The Source” project on Saadiyat Island, which includes a two-bedroom apartment priced at AED 4.82 million. The third is the “Louvre Abu Dhabi” project on Saadiyat Island, offering a two-bedroom apartment valued at AED 4.56 million.

In July, the total value of real estate transactions in Abu Dhabi amounted to AED 3.34 billion, as reported by the DARI platform of the Abu Dhabi Department of Municipalities and Transport.

According to the platform, sales transactions were valued at AED 1.67 billion through 442 sales transactions, while mortgage transactions also reached AED 1.67 billion through 385 mortgage deals.

The platform noted that during the past week, transactions totaled AED 209.4 million through 67 sales and mortgage deals. Specifically, sales amounted to AED 104.7 million across 32 transactions, and mortgages reached AED 104.7 million through 35 transactions.

Abu Dhabi’s real estate market has been experiencing rapid growth in recent years, driven by strategic initiatives and projects undertaken by the department in collaboration with relevant authorities to facilitate investment in the sector.

The DARI platform aims to unify real estate services in Abu Dhabi, offering a comprehensive and advanced real estate service experience that enhances investment appeal and ensures transparency in data provision.

It offers a range of services including property sales and leasing transactions, documentation, certificate issuance, and access to a directory of registered real estate projects and licensed professionals.

The platform also provides market indicators, including transaction values, mortgages, off-plan sales, and interactions with real estate brokers, as well as information on future investment opportunities in the emirate’s real estate market.

The DARI digital property services platform, affiliated with the Department of Municipalities and Transport in Abu Dhabi, has introduced 10 new real estate projects, including 4 that are completed and delivered, and 6 ready for handover in the Al Raha area. These projects contribute to the provision of 4,126 residential units for residential buildings and villa construction.

The projects listed on the platform, launched by the Department of Municipalities and Transport in collaboration with various development companies, include 3 villa projects, 9 building projects, and 1 land project.

The platform highlighted the “Al Raha Loft 1” project by the developer Reportage Investment, which includes 163 residential units with a completion rate of 100%, and the “Al Raha Loft 2” project by Reportage Investment, which includes 110 residential units, also with a completion rate of 100%. The “Al Hamam Tower” project by Al Dhabi Real Estate includes 74 residential units with a completion rate of 100%, and the “Lamar” project by Aabar Investments includes 292 residential units, while the “The View” project by Boutaina Property Management includes 77 residential units.

Aldar Properties has 5 projects in this list: the “Al Muneera Island” project with 1,445 residential units, the “Al Raha Beach” project with a completion rate of 100%, the “Al Zeina” project with 1,221 residential units, the “Al Hadeel” project with 233 residential units, and the “Al Bandar” project with 511 residential units.

The DARI platform aims to integrate real estate services in Abu Dhabi into a unified platform to provide comprehensive, advanced real estate services. It offers users a flexible and seamless experience in managing various real estate transactions, enhancing the attractiveness of real estate investment, and ensuring transparency in providing data to investors, which contributes to improving the quality of real estate services in Abu Dhabi.

The platform provides numerous services including property sales, rentals, documentation, issuing certificates, a directory of registered real estate projects, a guide for licensed professionals in the real estate market, market indicators including transaction values, mortgages, off-plan sales, communication with real estate brokers, and introduces investors to future investment opportunities in the Abu Dhabi real estate market. It also offers access to a list of transactions related to buying, selling, and mortgages.

Shafiqa Nader Al Blooshi, Director of Developer Affairs and Licensing at the Abu Dhabi City Municipality, part of the Department of Municipalities and Transport, announced that 27 new real estate projects have been registered this year across various areas of the emirate. Key locations for these projects include Al Reem Island, Yas Island, Saadiyat Island, and Al Ramhan Island.

In statements to the press during a recent real estate development workshop organized by the Abu Dhabi City Municipality, Al Blooshi highlighted that these projects will provide 6,700 new residential units. These projects are available for purchase by individuals of all nationalities.

Among the registered projects are Al Ramhan Island and the Sustainable City in Yas Island. Additionally, seven new real estate projects have been registered on Al Reem Island, including “Reem Hills,” “Pearl 3,” and “Maria Vista 3,” as well as the “Plaza” project in Masdar City.

Al Blooshi noted that nearly 100 escrow accounts have been opened this year, underscoring the robustness and transparency of the real estate sector in Abu Dhabi. She encouraged potential investors to make use of the smart applications introduced by the Department of Municipalities and Transport, including the “DARI” app, which provides detailed information about real estate projects, escrow accounts, and helps control the market and prevent fraudulent sales.

Al Blooshi stated: “The DARI digital platform launched by the department aims to integrate real estate services in Abu Dhabi into a unified platform, offering users a flexible and seamless experience in managing various real estate transactions. This enhances the attractiveness of real estate investment and ensures transparency in providing data to investors. It also helps any investor purchasing property in any project to view the project name, completion percentage, and the latest updated photos, ensuring transparency and enabling investors to understand their rights and the relationship between the municipality and all real estate professions, including brokerage firms, primary and secondary developers, surveying companies, and appraisal firms.”

During the opening session of the real estate development workshop in Abu Dhabi, Dr. Adeeb Al Afifi, Executive Director of the Real Estate Sector at the Department of Municipalities and Transport, emphasized the department’s commitment to providing an ideal environment, comprehensive infrastructure, effective services, and regulatory laws to offer attractive investment opportunities in Abu Dhabi and build an efficient and transparent real estate market.

He said: “Through meetings with real estate developers, we strive to leverage resources and strengthen close relationships with investors and real estate development companies to promote the growth of this vital sector, in line with our leadership’s vision of enhancing quality of life in the emirate.”

He added: “The real estate sector in Abu Dhabi has seen continuous growth, giving the emirate an additional competitive edge as one of the most attractive global real estate markets. The sector recently saw an improvement in the Global Real Estate Transparency Index, and Abu Dhabi was ranked among the top regions globally for performance improvement in this year’s report due to the diversity of investment options in the emirate.”

The DARI digital property services platform, operated by the Department of Municipalities and Transport in Abu Dhabi, has announced the availability of 2,834 new residential units within 11 construction projects, with completion percentages ranging from 22% to 97%.

The projects listed on the platform, launched by the Department of Municipalities and Transport in collaboration with the property services development company ADRES, include 5 residential projects on Yas Island, 3 projects in Khalifa City, 2 projects on Saadiyat Island, and 1 project in Al Shamkha.

The platform showcased details of 11 residential building projects, including the “The Gate Residential” project in Khalifa City by the developer Reportage Hospitality Real Estate, which includes 463 residential units with a completion rate of 74.62%, and the “Sustainable City on Yas Island – Phase 1” project by the developer The Sustainable Investment Yas, which includes 400 residential units.

The “Diva 1” project provides 391 residential units, with a completion rate of 22.26%. The Plaza project in Khalifa City, by the developer Reportage Prime, provides 348 new residential units, with a completion rate of 1%. The “Diva 2” project on Yas Island offers 345 residential units.

The “Manara Living” project on Saadiyat Island by the developer Aldar Properties provides 273 new residential units, while the “Oasis Residential 2” project by Reportage Prime provides 304 new residential units with a completion rate of 96.97%.

The Department of Municipalities and Transport explained that the DARI platform aims to integrate real estate services in Abu Dhabi into a unified platform to offer comprehensive, advanced real estate services. It allows users to experience a flexible and smooth management of various real estate transactions, enhancing the attractiveness of real estate investment, and ensuring transparency in providing data to investors, which contributes to improving the quality of real estate services in Abu Dhabi.

It added that users can access DARI through the website: www.dari.ae or the Dari mobile app, and explore the available services and features. The platform includes services for property sales, rentals, documentation, and issuing certificates, as well as a directory of registered real estate projects, licensed professionals, market indicators including transaction values, mortgages, off-plan sales, and communication with real estate brokers. It also introduces investors to future investment opportunities within the Abu Dhabi real estate market and provides access to a list of transactions related to buying, selling, and mortgages.

Abu Dhabi, UAE: ThinkProp Real Estate Training Institute, launched by Advanced Real Estate Services (ADRES), is conducting a training course titled“Mastering the Art of Real Estate Investment” on 9 May 2023, which will be delivered by renowned experts in the field of finance and real estate. The course will help participants make informed investment decisions and navigate the complex world of finance and real estate to become successful real estate investors, which consequently drives the growth of the real estate industry.

The course, which will be delivered by Dr. Mahmoud Al Burai, President of the International Real Estate Federation in the UAE, and Dr. Mohanad Al Wadiya, CEO at Harbor Real Estate, aims to identify the opportunities and challenges facing the financial market and the real estate sector. The course will provide participants with an overview of the legal framework and key facts that they should know as investors in the UAE. It will also feature case studies, prominent stories of achieving financial freedom, and the latest market trends to enable them to develop successful investment plans.

The course will cover several elements, including general and real estate financial terminology, opportunities and strategies for investors to choose the right property, and the reasons that may lead to loss when investing in the real estate market. Participants will have the opportunity to ask questions and receive guidance on how to build an investment plan that suits their potential.

Moath Maqbool, General Manager of ADRES, said:“Organizing this course comes as part of our endeavors to enhance the knowledge of individuals wishing to invest in real estate, as well as real estate practitioners. The course will provide methodologies for investing in the real estate sector, in line with international standards. It will support investors to make accurate and successful decisions when investing in the real estate market, and inform them of the latest trends and market developments. This aligns with our efforts to enhance investment, professionalism, and transparency in the real estate market, which contributes to the propelling the growth of the sector.”

ThinkProp Real Estate Training Institute, a subsidiary of Advanced Real Estate Services (ADRES), is the first institute of its kind in the region. The Institute’s courses and certificates have recently been accredited by the International Real Estate Federation (FIABCI), the world-class real estate organization devoted to all real estate specialties and activities, and the International Accreditation Organization (IAO), the international quality assurance agency. The Institute provides world-class knowledge and skills for individuals interested in working in the real estate sector. It aims to develop the real estate sector with a knowledge-based methodology by providing flexible learning methods at reasonable prices. This supports the Institute’s vision of becoming the first and leading accredited real estate training institute in the UAE and the region.

Abu Dhabi: Imad Al-Din Khalil

Abu Dhabi, UAE: The Abu Dhabi City Municipality, part of the Department of Municipalities and Transport, has unveiled seven new freehold investment zones for non-citizens since the beginning of 2023. This brings the total number of freehold investment zones in the Emirate to approximately 30. These zones offer a diverse range of projects and units, varying in designs and prices to suit different investor preferences.

Shafiqa Al Blooshi, Director of the Developers and Licensing Department at Abu Dhabi City Municipality, stated that these new investment zones allow foreigners to own property, offering competitive investment opportunities with high market flexibility. The zones benefit from strategic locations, robust infrastructure, and a safe and stable environment, which encourages individuals to work, live, and invest.

The new zones are located in areas including Yas Island, Saadiyat Island, Al Reem Island, Al Shamkha, Shakhbout City, Al Reef 2, and Al Jurf, among other designated areas.

Al Blooshi emphasized that Abu Dhabi remains an ideal investment destination for individuals and investors. The municipality is committed to investing in resources and innovating solutions to provide a sustainable, advanced, and integrated infrastructure that meets community needs, enhances quality of life, and supports economic growth. This includes adhering to standards, procedures, and laws that continue a series of wise decisions from the leadership, which drive economic development and boost the real estate sector.

She highlighted that Abu Dhabi’s real estate market has continued to achieve positive results and high growth rates recently, due to the implementation of various government policies and procedures that have increased transparency and investor confidence. This has solidified Abu Dhabi’s status as one of the most attractive global real estate investment destinations.

Al Blooshi encouraged potential investors to take advantage of smart applications introduced by the Department of Municipalities and Transport, such as the “Dari” app. This platform provides comprehensive information about real estate projects, including project details, escrow accounts, and helps manage the real estate market while addressing issues of fraudulent sales.

The “Dari” digital platform aims to consolidate real estate services in Abu Dhabi into a single unified platform, offering users a seamless and flexible experience for managing their real estate transactions. It enhances investment attractiveness and transparency by providing detailed information about projects, including names, completion percentages, and updated images, ensuring transparency and protecting investor rights. The platform also facilitates interactions between the municipality and various real estate professionals, including brokerage firms, primary and secondary developers, surveyors, and appraisers.

The real estate market in the UAE is growing at a steady pace, and the future looks promising. In the third quarter of 2022, Abu Dhabi’s real estate market recorded a total of 4,441 transactions amounting to over AED 21.04 billion, according to the latest report published by the Department of Municipalities and Transport (DMT) in Abu Dhabi. Furthermore, the value of real estate sales in Dubai Emirate reached AED 70 billion, according to Dubai Land Department.

The future of the UAE’s real estate market looks promising, with several positive indicators suggesting that the market is entering a new phase of growth and recovery. According to a report from the Department of Municipalities and Transport in Abu Dhabi, over 4,441 sale and purchase transactions were recorded in the third quarter of last year, totaling more than AED 21.04 billion. Meanwhile, the Dubai Land Department reported that real estate sales in Dubai have exceeded AED 70 billion, highlighting the continued strength and appeal of the market in the Emirates.

The real estate market in the emirates of Abu Dhabi and Dubai witnessed rapid growth in supply and demand, driven by several factors, which include the launch of mega-projects, supportive oil prices, the development of a strong legal system, and the launch of golden visa and long-term residency programs through property investment. This reflects the UAE’s efforts in developing policies and systems to drive economic growth and highlights the country’s quality infrastructure and openness in business.

As the market continues to flourish and more investors begin to seek out opportunities in the UAE, the importance of transacting with credible real estate professionals has become increasingly relevant. ThinkProp Real Estate Training Institute is contributing to shaping the future of the real estate industry, through its commitment to share and enhance the knowledge for all real estate stakeholders to develop competent real estate professionals.

Importance of Licensing

Having licensed real estate professionals is key for building a successful real estate industry. Despite the importance of dealing with licensed professionals to secure legal protection, many investors and contract parties are tempted to deal with unlicensed real estate individuals, often due to their cheaper and lower commission rates, or their inability to verify if a real estate practitioner is licensed or not, which makes them a victim to real estate risky transactions. Conducting transactions with unlicensed practitioners poses significant risks and dangers for the customer, including increased potential of fraudulent deals and extra charges and fees.

Associated risks include potential exposure to fraudulent transactions or the burden of additional fees and taxes. Additionally, the lack of legal documentation verifying the legitimacy of these companies could complicate efforts to address any issues if the client encounters challenges.

Unlicensed and uncertified real estate individuals have no professional affiliation or organization, often making it difficult to locate them if a problem arises. They often do not adhere to proper moral and ethical standards. As they do not follow a code of conduct, there will be no consequences if they breach a contract, provide poor or invalid information, or act negligently. Investors cannot be protected if they deal with unlicensed real estate practitioners.

The ThinkProp Real Estate Training Institute, launched by Advanced Real Estate Services (ADRES) in 2022, aims to enhance work ethics, expertise, and fundamental knowledge among professionals in the real estate sector. By disseminating information from government institutions and reinforcing it through ThinkProp’s curricula, the institute seeks to boost trust and transparency in the market. Additionally, it strives to provide standardized knowledge and strengthen governance in the real estate sector.

The institute offers advanced training courses for individuals and companies interested in working in the real estate sector, providing certifications accredited by relevant authorities.

It ensures compliance with regulatory guidelines and keeps up with the latest developments and changes in the real estate industry. This approach encourages trainees to engage in this vital sector while adhering to all legal procedures, and helps in building trustworthy relationships between clients and other stakeholders.

Recently, the institute awarded certificates to over 800 real estate professionals, marking a significant achievement and further success in attracting more than 300 real estate institutions to register with the institute. THINKPROP enjoys considerable trust from the government, reflecting the institute’s pivotal role in supporting the expansion and growth of the UAE’s real estate sector. By providing experts and specialists from key areas of the field, THINKPROP contributes to shaping the future of a rapidly evolving sector.

The institute’s qualified trainers have made significant contributions and achievements in the real estate sector nationwide, driven by their strong commitment to leveraging their extensive expertise to train a new generation of real estate professionals. The institute employs a flexible approach, allowing trainees to attend training sessions either in person or virtually.

Launched by ADRES in 2022, ThinkProp Real Estate Training Institute aims to create a knowledgeable and ethical professional body of real estate experts in line with the government’s vision to drive the growth of the property and real estate sector. The Institute strives to increase market transparency and trust, provide unified real estate knowledge, and reinforce the governance of real estate professions.