Dubai's property market has experienced a record-breaking year, with registered sales in 2022 reaching Dh208bn ($56.63 billion), data released by the emirate's land department shows.
A total of 86,490 residential sale transactions were recorded, beating the previous record of 80,000 in 2009, a year of property boom.
Of these, 62,363 were apartments, including 27,892 sold on the secondary market.
Based on the data compiled by Better Homes, Dubai Marina was the top spot where expats bought apartments last year, followed by Palm Jumeirah and Business Bay.
A road-facing property will cost you about Dh200,000 less than an apartment that faces the Marina
Kavinda Bakmeedeniya,
Huspy Real Estate
The most significant price increase was in Palm Jumeirah, up 30 per cent with an average sale price of Dh1,815 per square foot, while units in Business Bay appreciated by 8 per cent in 2021 and were sold at Dh1,441 8 per sq ft.
Classifieds website Propertyfinder shows the average sale price in Dubai Marina in December was Dh1,289.
"The secondary market is popular among end users who want to move in while investors are looking at off-plan properties," Kavinda Bakmeedeniya, sales consultant at Huspy Real Estate told The National.
All three areas are freehold, have good connectivity and amenities, and a range of options that may come at the right price tag for you. Properties here are easier to resell and rent out and make for perfect Dubai living.
We have rounded up what a studio, one and two bedrooms can cost in these areas, which are the most popular buildings and why.
Dubai Marina
Dubai Marina is a lively hive of activity and its famous skyline is recognisable worldwide.
The winding marina, which snakes 3.6km through a landscape of residential and commercial towers, is home to more than 600 boats and yachts, many with multimillion-dollar price tags.
It is one of the best-connected neighbourhoods in the city. Dubai Metro, Dubai Tram, Dubai bus — it has all.
For retail, the Marina Mall shopping centre is spread across four floors and covers more than 390,000 sq ft.
There are many hotels, clinics and medical centres in the area.
Emirates International School, the International School of Choueifat Dubai and the Dubai British School are within a short driving distance.
Property price range
Studio - Dh700,000 to Dh900,000, average size is 500sq ft
One-bedroom - Dh900,000 to 1.2m, average size is 800sq ft
Two-bedroom - Dh1.5m to Dh2.5m, average size is 1,000sq ft to 1,200sq ft
Best buildings - Studio One, Silverene and Marina Gate, to name a few.
"The price depends a lot on the building finishes, location and high or low floor and the views," said Mr Bakmeedeniya.
"For example, Studio One is really popular because of its good rental yield. In the short term, you can expect a return of 10 to 11 per cent and in the long term, you can look at a minimum of 6 to 7 per cent if you are an investor.
"Emaar ones have always been popular because they have free chilling and their maintenance is very good. Then we have Silverene, Studio One on the high-end. Marina Gate is also very good.
"Emaar buildings have always been popular because they are chiller-free and the maintenance is very good.
"On a lower price end, we have towers like Marina Diamond 1 to 6, where units are cheaper."
"You should also factor in the price depending on the location. So, a road-facing property will cost you about Dh200,000 less than an apartment that faces the Marina."
Palm Jumeirah
This man-made island is the luxury playground of the wealthiest people in the world, with villas sold for Dh130 million ($35.3 million).
But that does not mean there are no options for the middle-class buyer.
The Nakheel development is a thriving hub for tourists and residents alike.
It is home to more than 18 hotels and resorts, a water park and its own dedicated public transport network, the monorail.
It has of the world’s largest fountains at The Pointe, which overlooks the famous Atlantis Hotel and the newly opened Dubai's Atlantis The Royal.
For retail, Nakheel Mall is a multi-floor shopping centre with more than 350 shops and restaurants.
Dubai College, Gems Wellington International School and the American School of Dubai are close by.
Property price range
Studio - lowest one will be Dh1.2m to Dh2m, average size 500sq ft
One-bedroom - lowest range will be between Dh1.75m to Dh2.5m, average size 800sq ft to 1,000sq ft
Two-bedroom - will cost at least Dh2.5m to Dh3.5m, average size 1,600sq ft to 2,000sq ft
Best buildings - Shoreline Apartments, Royal Bay, and Palm Views, to name a few
"Shoreline Apartments in Palm Jumeirah are generally cheaper due to partial sea views. Apartments located on the Palm with direct sea views would be on the premium side," said Mr Bakmeedeniya.
"The Palm has become very expensive for its exclusivity and lack of supply. In premium buildings such as The Royal Atlantis, a two-bedroom can go for Dh16m and a 4-bed can fetch 35m."
Business Bay
Business Bay is more than merely skyscrapers. It is also a fine residential district with entertainment venues, a range of apartments, hotels, restaurants and retail outlets.
The best part of living in this area is that you are so near Downtown Dubai.
Maple Bear nursery, Jumeirah Primary School, Jumeirah College, English College, and Horizon School are just across Sheikh Zayed Road.
Emirates Hospital Clinic is within the community and Medcare hospital is a short distance away.
Property price range
Studio - at least Dh700,000, average size 500sq ft
One-bedroom - lowest will be Dh1m, average size 700sq ft to 1,000sq ft
Two-bedroom - Dh1.5m to Dh2m, average size is 1,000sq ft to 1,100sq ft
Best buildings - Executive Towers have always been popular, then you have Paramount Tower, Noora building can cost Dh2.2m for a 1,300sq ft unit.
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
UAE currency: the story behind the money in your pockets
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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COMPANY%20PROFILE
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Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
What is Reform?
Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.
It was founded in 2018 and originally called the Brexit Party.
Many of its members previously belonged to UKIP or the mainstream Conservatives.
After Brexit took place, the party focused on the reformation of British democracy.
Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.
The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.
Company%20profile
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The specs: 2018 Jeep Compass
Price, base: Dh100,000 (estimate)
Engine: 2.4L four-cylinder
Transmission: Nine-speed automatic
Power: 184bhp at 6,400rpm
Torque: 237Nm at 3,900rpm
Fuel economy, combined: 9.4L / 100km
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Killing of Qassem Suleimani
PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
UAE currency: the story behind the money in your pockets
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How to increase your savings
- Have a plan for your savings.
- Decide on your emergency fund target and once that's achieved, assign your savings to another financial goal such as saving for a house or investing for retirement.
- Decide on a financial goal that is important to you and put your savings to work for you.
- It's important to have a purpose for your savings as it helps to keep you motivated to continue while also reducing the temptation to spend your savings.
- Carol Glynn, founder of Conscious Finance Coaching
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Types of bank fraud
1) Phishing
Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
2) Smishing
The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
3) Vishing
The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
4) SIM swap
Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
5) Identity theft
Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
6) Prize scams
Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
RESULT
Uruguay 3 Russia 0
Uruguay: Suárez (10'), Cheryshev (23' og), Cavani (90')
Russia: Smolnikov (Red card: 36')
Man of the match: Diego Godin (Uruguay)
WIDE%20VIEW
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Anti-semitic attacks
The annual report by the Community Security Trust, which advises the Jewish community on security , warned on Thursday that anti-Semitic incidents in Britain had reached a record high.
It found there had been 2,255 anti-Semitic incidents reported in 2021, a rise of 34 per cent from the previous year.
The report detailed the convictions of a number of people for anti-Semitic crimes, including one man who was jailed for setting up a neo-Nazi group which had encouraged “the eradication of Jewish people” and another who had posted anti-Semitic homemade videos on social media.
Biog
Age: 50
Known as the UAE’s strongest man
Favourite dish: “Everything and sea food”
Hobbies: Drawing, basketball and poetry
Favourite car: Any classic car
Favourite superhero: The Hulk original
The schedule
December 5 - 23: Shooting competition, Al Dhafra Shooting Club
December 9 - 24: Handicrafts competition, from 4pm until 10pm, Heritage Souq
December 11 - 20: Dates competition, from 4pm
December 12 - 20: Sour milk competition
December 13: Falcon beauty competition
December 14 and 20: Saluki races
December 15: Arabian horse races, from 4pm
December 16 - 19: Falconry competition
December 18: Camel milk competition, from 7.30 - 9.30 am
December 20 and 21: Sheep beauty competition, from 10am
December 22: The best herd of 30 camels
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
HIV on the rise in the region
A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.
New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.
Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.
Access to HIV testing, treatment and care in the region is well below the global average.
Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.
'Manmarziyaan' (Colour Yellow Productions, Phantom Films)
Director: Anurag Kashyap
Cast: Abhishek Bachchan, Taapsee Pannu, Vicky Kaushal
Rating: 3.5/5
Final round
25 under - Antoine Rozner (FRA)
23 - Francesco Laporta (ITA), Mike Lorenzo-Vera (FRA), Andy Sullivan (ENG), Matt Wallace (ENG)
21 - Grant Forrest (SCO)
20 - Ross Fisher (ENG)
19 - Steven Brown (ENG), Joakim Lagergren (SWE), Niklas Lemke (SWE), Marc Warren (SCO), Bernd Wiesberger (AUT)
UAE currency: the story behind the money in your pockets
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
UAE currency: the story behind the money in your pockets
Off-roading in the UAE: How to checklist
UAE v Zimbabwe A, 50 over series
Fixtures
Thursday, Nov 9 - 9.30am, ICC Academy, Dubai
Saturday, Nov 11 – 9.30am, ICC Academy, Dubai
Monday, Nov 13 – 2pm, Dubai International Stadium
Thursday, Nov 16 – 2pm, ICC Academy, Dubai
Saturday, Nov 18 – 9.30am, ICC Academy, Dubai
