Aman, a Swiss-based hospitality brand, is currently developing its first hotel property in Dubai.

The company sees Dubai’s opening as part of a move to expand its presence in the Middle East, along with its sister concern Janu.

The development of the hotel has been partnered with Bright Start, a UAE-based real estate investment company that already owns the Four Seasons in Dubai. H&H Development, a real estate developer, will be leading the delivery of the Dubai project.

While some details are still under wraps, Aman Dubai is expected to be located in Jumeirah 2 neighborhood with an expansive private beach.

The hotel will feature all-suite rooms, a spa of over 2,000 sqm, several restaurants, and an Aman Club.

Additionally, a limited number of Aman branded residences will also be available. The hotel will be designed by Singapore-based Kerry Hill Architects, with a minimal and contemporary design aesthetic while incorporating Arabian heritage.

The property will also have nine acres of gardens.

Aman Dubai is currently in the development phase, and the luxury hotel group has been expanding its pipeline in the Middle East over the last few years.

It has plans to open three properties in Saudi Arabia, including a tented camp, a desert ranch-style resort, and Hegra in AlUla.

Janu, its sister hospitality brand, also has a pipeline that includes a project in the UAE.

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Arcapita Capital Company, a subsidiary of Arcapita Group Holdings Limited, announced on Wednesday that it has closed KSA Logistics Fund III for SAR1.8 billion ($500 million).

The fund was backed by a leading sovereign wealth fund from the GCC region and other major institutional investors.

Arcapita Group has already invested a significant portion of the fund in a portfolio of industrial real estate assets across the manufacturing and warehousing sectors.

The company plans to invest the rest of the fund in strategically located assets across Riyadh, Jeddah, and the Eastern Province.

Arcapita will also develop long-term off-take arrangements with tenants, by taking a built-to-suit approach.

This fund is in alignment with Arcapita’s strategy of bringing its international expertise in industrial real estate to the Kingdom’s industrial sector to support its ambitions of becoming a global logistics hub.

Hisham Al Raee, Deputy CEO of Arcapita Group, said, “Today marks an essential milestone in our strategic expansion in Saudi Arabia, the largest economy in the MENA region.

We currently manage over SAR3.8 billion ($1 billion) of industrial warehousing assets in KSA and the GCC region, and our investor base includes pension funds, sovereign wealth funds, and financial institutions.

The industrial and logistics sectors are key components of the Kingdom’s Global Supply Chain Resilience Initiative, which aims to attract SAR 40 billion ($10.6 billion) in investments.

We look forward to continuing to deploy our expertise in the industrial real estate sector to play a key role in transforming the Kingdom into a global logistics hub.”

Yousif Al Abdulla, Managing Director and Head of MENA Investment at Arcapita Group, has expressed his optimism towards the growth of Saudi Arabia’s industrial real estate market.

He believes that the market will experience substantial growth over the long term, driven by the significant and continued growth of e-commerce across the Kingdom and by strong government-led investment in infrastructure and the industrial sector.

Arcapita Group’s portfolio strategy will leverage opportunities presented by the National Industrial Development and Logistics Program, as well as the Kingdom’s Vision 2030 plan.

Arcapita Group’s management team has managed more than SAR24.3 billion ($6.5 billion) in industrial and logistics real estate transactions globally, including over SAR5.6 billion ($1.5 billion) in the GCC region, over the past 25 years. Furthermore, Arcapita Group has a strong track record of investing in the Kingdom, with nearly SAR1.5 billion ($400 million) in investments over the past 10 years.

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The Abu Dhabi Projects and Infrastructure Centre (ADPIC) has approved a budget of AED 66 billion (USD 17.96 billion) for 2024.

The budget will be utilized across 144 projects in various sectors, including housing, education, tourism, natural resources, and quality of life.

The Abu Dhabi Media Office announced that over AED 59 billion has been assigned for housing and public facilities, including the development of communities.

AED 4 billion has been allocated to education and human capital, and over AED 1.1 billion has been designated for boosting tourism.

Additionally, AED 50 million will be used for projects focused on enhancing the emirate’s natural resources.

According to ADPIC, nearly 13,000 housing units will be developed for UAE citizens in Abu Dhabi, Al Ain and Al Dhafra.

The investments will also focus on developing social spaces, such as mosques, community and sports centers, retail offerings, police and civil defense facilities, parks, public spaces, walk lanes, playgrounds, and specialized cycle tracks.

ADPIC has also announced investments in the vocational training and education sectors, including capacity expansions of schools and training centers, renovations, and launching projects that support early childhood learning and human capital development.

The budget also includes allocations for creating and maintaining cultural destinations and buildings to support the emirate’s tourism sector.

To strengthen food security, a series of investments in diverse aquaculture farms, including breeding, raising, and harvesting fish and shellfish, has also been planned.

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According to the Sovereign Wealth Fund Institute, the Public Investment Fund (PIF) of Saudi Arabia has seen a significant increase in its total assets, reaching $940.26 billion after a surge of $163.6 billion.

This growth can be attributed to Saudi Arabia’s decision to transfer an 8% stake in oil giant Aramco to the portfolio companies of the PIF. As a result, the PIF has risen to become the fifth-largest Sovereign Wealth Fund worldwide.

The value of the stake transferred was estimated at $163.6 billion based on Aramco’s market capitalization, according to LSEG data.

The PIF directly owns a 4% stake in Aramco, which was transferred in 2022, and an additional 4% indirectly, which was transferred last year to its wholly owned unit Sanabil Investments.

The four largest Sovereign Wealth Funds globally are the Norway Government Pension Fund Global ($1.65 trillion), China Investment Corporation ($1.35 trillion), SAFE Investment Company ($1.09 trillion), and Abu Dhabi Investment Authority ($993 billion).

Following this latest transfer, the state now holds an 82.186% stake in Aramco.

About Saudi Aramco outside of the PIF transfer:

Saudi Aramco, based in Dhahran, Saudi Arabia, is the world’s largest oil producer. The company is primarily state-owned and has been officially named the Saudi Arabian Oil Company. It is considered the world’s most profitable company, surpassing even tech giants such as Apple (AAPL) and Alphabet’s Google (GOOGL).

In 1933, the Saudi Arabian government and the Standard Oil Company of California signed a concession agreement, which led to the establishment of Saudi Aramco. The company started drilling operations soon after and began commercial oil production in 1938.

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The Trump Villas at AIDA will be situated within the Trump International Golf Club, offering residents an elite membership to the club and sea views from an elevation of over 130 meters.

The project will provide a range of world-class amenities, including a clubhouse, expansive parks, and recreational spaces.

Property owners will receive a Trump-branded golf cart.

This development in Oman is not the only one bearing the Trump name in the Gulf; he has also put his name on a gated community in DAMAC Hills in Dubai through a deal with Emirati billionaire Hussain Sajwani.

AIDA is a development located in Muscat, near five UNESCO world heritage destinations, and surrounded by sharp cliffs, curvaceous valleys, hilltops, and the Arabian Gulf.

The site will also host five-star hotels, including Ritz Carlton, Jumeirah Hotels, and Shangri-La. Dar Global has recently listed on the main market of the London Stock Exchange.

Donald Trump’s presence in the Gulf:

Former US President Donald Trump has previously invested in real estate projects in the Gulf, particularly in Dubai, through a partnership with Damac Group in 2015.

Trump’s business presence in the oil-rich Gulf region has now expanded with a new project in Oman, despite ongoing scrutiny over potential conflicts of interest.

Challenges within MENA for Donald Trump:

There have been accusations of conflicts of interest regarding Trump’s involvement in real estate developments across the Gulf, particularly due to his close relationships with countries like Saudi Arabia and the UAE during his presidency according to OmanMoments.

Despite his promise not to initiate new foreign deals during his time in office, his businesses continued to benefit from pre-existing agreements in nations such as Turkey, the Philippines, and India.

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Residential transactions (transferal of ownership) in Riyadh and Jeddah, which account for 59% of all real estate deals by value, saw 150,000 sales between January and November of 2023, a 16% decrease.

Saudi Arabia is seeing a nationwide decrease in real estate transactions, the number of transactions dropped by 17% while the total value of transactions dropped by 9% in 2023, amounting to a total value of almost $53 billion.

Faisal Durrani, Partner – Head of Research, MENA, said: “The residential market has experienced phenomenal price growth over the last two to three years, with prices in Riyadh, for instance, continuing to climb into record-high territory. Unsurprisingly, the high home values have contributed to growing affordability issues, which have been further exacerbated by the rising cost of borrowing. Indeed, interest rates have jumped from around 0.8% in January 2021 to 6% at the end of last year”.

The Value of mortgage issues saw a big increase from 2018 to 2021 then started to decline again, going from an all-time high of almost USD37.3 billion to USD21.3 billion.

Real estate prices were retained in Riyadh, unlike the rest of the kingdom, apartment prices increased by 4.5% while villa prices increased by 0.5%.

The number of transactions rose by 7% while other cities saw drops in transactions.

Knight frank:

Knight Frank, which is a global real estate consultancy and real estate agency in London with more than 488 offices stated that the total number of mortgages issued between January to November of 2023 decreased by 35%, which is 13% more than last year.

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Abu Dhabi-based developer Aldar Properties (ALDAR.AD) reported a 39% increase in Q4 profit, driven by higher sales.

Aldar Properties PJSC is a United Arab Emirates-based real estate development and investment company that undertakes and operates a portfolio of real estate projects in the United Arab Emirates.

The company also deals with development, sales, investment, construction, and management of the associated services for real estate.

Net profit increased to 1.4 billion dirhams (approximately $381 million) due to a 40% rise in revenue to 4.4 billion dirhams. This profit exceeded the analysts’ average estimate of 805 million dirhams, according to LSEG data.

Net profit for 2023 increased by 40% to 4.4 billion dirhams, driven by full-year sales of 27.9 billion dirhams and a focus on international expansion.

The company reported having 2.9 billion dirhams in free cash and 7.5 billion dirhams in unused credit facilities, indicating a strong liquidity position.

Aldar has announced plans to invest 5 billion dirhams in building new offices, retail, and hospitality facilities in Abu Dhabi by 2027 to address the strong corporate demand for Grade A office space.

Aldar Properties announced the awarding of 49 contracts worth $6 billion for infrastructure, residential, commercial, and mixed-use projects across the emirate in 2023, where nearly 50% of the total contract value will be reinvested into the local economy, insinuating growth of the national GDP.

The contracts awarded to Aldar Properties include residential villas, townhouses, apartments, offices, retail spaces, schools and major highways.

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Vilal Housing, a trademark specializing in developing residential homes in the UAE, has revealed its plans to construct 50 residential villas. The villas are expected to be delivered by 2024.
Vilal Housing notes that the delivery of these villas to its UAE clients is crucial in addressing the increasing demand for housing in the country.

The company claims to offer designs and construction services to their clients retaining high quality and competitive prices while noting that the time to complete the projects will take at most 15 months.
The company employs a specialized team for construction auditing, supervision and on-site inspection while it is also contracted with certified engineering offices, which allows it to stick to specified requirements, designs, prices and schedules agreed upon by both parties.

Vilal Housing provides project management services for housing projects, catering to UAE citizens who acquired residential plots, the company constructs homes on those allocated lands, adding luxurious designs and ensuring cost-effectiveness.
The “Shareek” platform which was introduced by Vilal Housing to strengthen partnerships and enhance performance enables suppliers and service providers to present their services to Vilal Housing’s clients and take advantage of the opportunity available on the platform.

Gaith Al Hashemi, Manager of the Customer Relations Center at ‘Vilal Housing’ emphasized that the delivery of 50 villas underscores the company’s dedication to delivering top-quality services at competitive rates, aligning with the visionary leadership’s goal of enabling Emirati families to attain suitable housing.
He also stated that they take pride in successfully executing the initial phase of homes for UAE citizens, adhering to the standards and timelines specified.

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Commenting on the progress, Msheireb Properties CEO Eng. Ali Al Kuwari said, “We are extremely well positioned, as a country and as a company to meet real estate demand that is expected to pick up steadily ahead of the 2030 Asian Games. Our spaces are designed with the person in mind and executed with care for the environment – two considerations that will continue to play a significant role in decision-making. We have already seen that Msheireb Downtown Doha is becoming a hub for technology and services companies and are eager to welcome MEEZA.”

MEEZA’s new office opening in Msheireb Downtown Doha reflects its prime position as the preferable business district thanks to its easy accessibility, world class facilities, and its prime location in the heart of Doha.

Eng. Ahmad Al-Muslemani, Chief Executive Officer, MEEZA, said: “We are thrilled to embark on this new chapter as we open our new office in Msheireb, Heart of Doha. This milestone is a testament to the power of collaboration and innovation, which have been the cornerstones of our journey with Msheireb over the last eight years.  This decision will not only underscore our commitment to sustainability but also highlights the significant role MEEZA has played in shaping Msheireb Downtown Doha into the remarkable smart city it is today.”

Eng. Ali Al-Kuwari added: “We are delighted to welcome MEEZA to our smart and sustainable city district Msheireb Downtown Doha. We look forward to welcoming more companies and attracting new investments to contribute to Qatar’s thriving economy.”

With a total area of approximately 2131 square meters, the new MEEZA office at Msheireb Downtown Doha located in Building 2, Street 981, will leverage the most advanced smart services and technologies. It features state-of-the-art facilities and amenities, including high-speed internet, cutting-edge conference rooms, and on-site dining options. The office also offers a range of flexible office solutions to meet the evolving needs of MEEZA’s clients, from individual workstations to private offices and spaces.

Msheireb Downtown Doha is part of a ground-breaking development that is recognised as one of the most innovative and sustainable real estate projects in the world. The development features cutting-edge technology and is designed to maximise energy efficiency while reducing its carbon footprint. The district has adopted the latest advanced smart services and applications for a new fully digital experience accessible to tenants, residents, and visitors. It has also demonstrated a commitment to sustainable living and business practices with one of the highest concentrations of gold or Platinum LEED (Leadership Energy and Environmental Design) certified sustainable buildings globally.

Msheireb Properties is a leading sustainable real estate developer, committed to creating sustainable, livable, and vibrant communities that foster social, environmental, and economic well-being. The company’s portfolio includes some of the most innovative and ambitious projects in the region, including Msheireb Downtown Doha, one of the largest and most sustainable downtown regeneration projects in the world.

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Budget-friendly: Al Furjan, Discovery Gardens, Dubai Investment Park, Dubai Land, Dubai Silicon Oasis, Jumeirah Village Circle and Dubai Sports City are good budget-friendly options to look at in New Dubai.  The average price in these areas for one bedroom apartments is around AED 46,000 per year for rentals and AED 532,000 for ownership. Some of Old Dubai’s much-loved cultural neighborhoods including Al Qusais, Deira and Bur Dubai also have a lot of budget friendly options to offer. In Sharjah, some of the price-friendly neighborhoods include one bedroom apartments in Al Khan available for rent around AED 23,000 and Muwaileh around AED 20,000 per year. To assess budgets better, Price Map offers a snapshot of the pricing of properties for rent and sale on an affordability heatmap, enabling home seekers to easily identify areas that won’t put a strain on their budget.

Green areas: Love the lush greens surrounded by fresh air and parks? Look no further! Sharjah’s newest hotspot – Aljada offers a range of affordable housing options, along with Al Rahmanya and Tilal City.  Average price for a studio apartment rental in Aljada is around AED 23,000 per year, while ownership prices for two bedroom villas are around AED1,392,000. A variety of rental and ownership options in Dubai also offer greener housing options to choose from. These include the Greens, Jumeirah Golf Estates, Al Barari, Mirdif and Damac Hills. With average one bedroom apartment rentals costing around AED 67,000 per year and ownership priced at AED 893,000, these communities offer access to well-planned facilities along with gated projects, designed for the wellbeing of residents and visitors alike.

Luxury: Among Dubai’s most upscale neighborhoods are Business Bay, DIFC, Downtown Dubai, Dubai Marina, Palm Jumeirah and Jumeirah Beach Residences. With a host of premium facilities on offer, average rents in these areas for one bedroom apartments are around AED 110,500 per year, while ownership is around AED 1,626,500. Al Majaz and Maryam Island offer luxury living options in Sharjah, with average ownership prices for two bedrooms costing around AED 638,000 and AED 1,026,000 respectively. Without a doubt in Abu Dhabi, some of the most premium properties offer island style living with uninterrupted comfort in Yas, Al Maryah and Saadiyat.

Family-friendly: Al Barsha, Arabian Ranches, Al Furjan, Motor City and Dubai Silicon Oasis are top locations to opt for a family-friendly address in Dubai. In Sharjah, homeseekers can look at Al Khan, Al Qasba and Al Taawun for greater convenience with a wide range of supermarkets, schools and malls nearby, along with easy connectivity to other Emirates. Ras Al Khaimah’s Al Marjan Island, Mina Al Arab, Al Nakheel and Al Hamra Village are also some of the most suited areas with amazing amenities for parents and children alike. With average rents around AED 62,000 per year, for a one bedroom apartment, Al Raha Beach is one of the popular family-suited communities in Abu Dhabi. Having a home in any of these areas puts you in easy reach from top schools, community living centers, play areas and more.

Outdoor and sport lovers: Fancy a game or a walk every evening? If outdoors or sports are your priorities when looking for a house in Dubai, check out properties in Meydan, Greens, Jumeirah Golf Estates or Damac Hills using the Neighbourhood insights toggle on Data Guru. For Ajman, Al Zahya has some of the best options with villa ownership around AED 1,061,000 for three bedrooms. These areas provide ample access to open spaces, gyms, as well as dedicated cycling, running and walking tracks, tennis and football courts. Residential Insights also allows you to view the pricing of nearby towers, average historical prices, supply of residential units in the community, ratings and reviews, as well as building age and images.

Waterfront living: With plush views on offer, waterfront properties are increasingly becoming preferred in the city. Popular areas in Dubai include Al Sufouh, Jumeirah, Dubai Creek Harbour, Dubai Marina and Palm Jumeirah. Exclusive one-bedroom apartments with great blue views cost around AED 103,000 for rentals per year, while ownership begins at around AED 1,372,000. More people are also considering seafront communities like Al Marjan Island and Mina Al Arab in Ras Al Khaimah for the plenty of diverse housing options they offer. Al Marjan also offers two bedroom apartment options with average costs around AED 53,000 for rent per year and AED 1,038,000 for ownership.

Across all the above options, homeseekers have a wide range of rental and ownership options to choose from which can be easily assessed better by using the Rent vs Buy calculator on Data Guru, to find the most profitable option by calculating the potential monthly rent and mortgage costs.

“As demand for different living options continues to evolve, the UAE has got something to offer for every kind of homeseeker. Through Data Guru, we provide a range of easily accessible tools that offer industry-leading insights on pricing, communities, neighborhoods, rent vs buy advice etc. Homeseekers can also easily track new real estate developments and get more details about these to help support decision making in advance. And that is why Data Guru is a solution made to enhance home searches in the UAE, especially as we enter an era powered by increasing off-plan investments and rise in ownership. It’s an exciting time for real estate and we’re committed to playing our role in supporting this growth through our data-backed ecosystem, empowering homeseekers to make the best decisions,” said Christophe de Rassenfosse, Chief Product Officer at Property Finder.

Data Guru seeks to address critical pain points in the home search journey which include a time-intensive property research process, absence of comprehensive data, as well as lack of trust and transparency.

As Property Finder continues to transform the PropTech ecosystem by empowering home seekers with everything they need for an informed decision, the recently launched tool contributes to making the process easier. The new-age one-stop solution offers comprehensive data and insights for all kinds of homeseekers through a range of filters to choose from. Homeseekers can access Data Guru on https://www.propertyfinder.ae/ or on the  Property Finder application, available for download on Google Play and Apple Store.

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