UAE holiday planning, Saudi visa rule updates, Dubai real estate records, Coldplay in Abu Dhabi and more top news stories this week
commercial real estate
Latest in commercial real estate
commercial real estate
Saudi Arabia’s Jeddah Tower to serve as magnet for surge in global investment in the Kingdom, say experts
The ambitious project, projected to be 180 meters taller than the reigning title holder for the world’s tallest building, Burj Khalifa, when completed
commercial real estate
Arcapita and Flow to develop 80,000sqm logistics complex in Riyadh
Will include cold storage, dry storage, temperature-controlled facilities, and specialised spaces for pharmaceutical and hazardous goods
commercial real estate
Revealed: Demand for industrial real estate hitting sky high in Dubai amidst influx of companies seeking entry, expansion
The demand surge is driving up real estate prices and commercial rents, threatening to push up capital and operational costs for setting up industries and operating manufacturing facilities in the emirate
commercial real estate
Saudi real estate: Grade A offices hit 98% occupancy as global firms rush in
To meet surging demand, Riyadh plans to add more than 1.6 million square metres of Grade A office space by 2028
Abu Dhabi
Aldar and Mubadala break ground on new Abu Dhabi office towers ‘One Maryah Place’
Two connected towers on Al Maryah Island to offer 98,000 square metres of new Grade-A office space as demand soars in Abu Dhabi
Aldar Properties
Sweid & Sweid sells 6 Falak office building in Dubai Internet City to Aldar Properties
This sale aligns with Sweid & Sweid’s development strategy to expand their portfolio with projects that meet the needs of Dubai’s commercial tenants
commercial real estate
TECOM Group reports strong H1 2024 performance with 24% surge in net profit
The Group’s robust performance was driven by high occupancy rates exceeding 92% across its commercial and industrial assets
commercial real estate
DIFC’s Central Park Towers launches new furnished offices on Level 31 amid Dubai’s real estate boom
The recently introduced Level 31 features 14 fully equipped office units, varying in size from 1,000 to 1,700 square feet
Abu Dhabi
Aldar expands Dubai portfolio with office tower on SZR and acquisition in DIC
The tower will have an NLA of 88,000 sqm, including a luxury hotel and residences; Also acquires ‘6 Falak’, a fully-occupied office building in Dubai Internet City
Abu Dhabi
UAE real estate: Dubai, Abu Dhabi see surge in office rents, occupancy rates
The report further highlighted increases in office space, rising rents, and decreasing vacancy rates in both Dubai and Abu Dhabi.
commercial real estate
Dubai real estate: Office market shows resilience as demand outpaces supply
One notable new trend was the rise of pre-leasing in Dubai, where tenants secure offices before they are available
commercial real estate
Dubai announces new mixed-use development project ‘DIFC Square’
DIFC Square will comprise three connected buildings providing 600,000 square feet of office space and 17,200 square feet of retail area
commercial real estate
Neo Capital DIFC announces acquisition of Netherlands warehouse for €45.55m
The acquisition marks Neo Capital’s third investment in the Netherlands, the first two being its investments in two commercial towers in Rotterdam and Hoofddorp (Amsterdam)
Abu Dhabi
Abu Dhabi’s office, industrial sectors showcase robust growth in Q1, 2024 amid economic expansion: Savills
Rental growth across micro-markets was recorded at 1% quarter-on-quarter, with select prime locations seeing a 7% rise year-on-year
commercial real estate
Saudi real estate: Riyadh’s premium office rents surge 5% in Q1 2024 as supply crunch bites: Report
The report also revealed that the Business Parks and the King Abdullah Financial District are witnessing significant demand, with 75 percent of transactions involving relocations to these areas
commercial real estate
How Dubai’s dynamic economy created one of the world’s most buoyant office markets
Demand in premium property spaces, in particular, has reached new heights