The 1WOOD project is making exciting progress and advancing at a remarkable pace!
Current developments include:
Estimated completion: Q3 2025
Great strides are being achieved with the OZONE1 project. More details? As of today:
The V1TER project is moving forward as per the initial schedule. Here’s the latest update:
Estimated completion: Q3 2025
The RA1N project site is filled with activity as construction progresses steadily.
The current status of the work is as follows:
Dubai’s residential real estate market experienced rapid growth in the first quarter of 2024, with total transactions reaching a staggering $109.8 billion, marking a remarkable 25.94% year-over-year increase, according to the Dubai Land Department (DLD).
The most in-demand properties continue to be one and two-bedroom apartments and studios in prime locations such as Jumeirah Village Circle, Business Bay, and Dubai Marina.
Off-plan sales exhibited significant growth, escalating from 5,881 units in January to an impressive 7,601 units in March, indicating strong investor confidence in new properties.
The completed housing market also experienced substantial activity, with approximately 19,600 transactions, reflecting a 46% increase compared to the previous year. Investment inflows soared by 55%, with 42% of these coming from new international investors.
These compelling trends indicate Dubai’s real estate market’s rapid expansion, with projections pointing toward a potential 103% increase in market indicators by the end of the year.
The massive growth showcases a thriving and resilient real estate market. Dubai stands out as a prime location for real estate investment, attracting a wide range of global investors eager to seize the city’s dynamic and promising opportunities.
We will continue to monitor and report on these dynamic developments.
Sourced from: DXB Interact
Thanks to an 8% increase in the number of new jobs compared to the fourth quarter of 2023, the UAE has become the leader in job creation among the Gulf countries in the first quarter of this year.
The employment ratings from Cooper Fitch Gulf indicate growth in the number of new jobs in the sectors of real estate, digital technologies, data processing, and artificial intelligence.
Figures include:
– Real estate sector: +11%
– Construction, planning, and real estate services: +11%
Regarding overall growth in the region:
– Saudi Arabia saw a 5% increase in new jobs,
– Qatar had a 3% increase,
– Bahrain had a 1% increase,
– Kuwait had a 4% increase,
– Oman saw no change in job growth.
In the legal and investment management sectors, job numbers in the Gulf countries increased by 9%, indicating the region’s growing popularity.
The economic outlook for the UAE remains promising, with projected GDP growth of 4.2% in 2024 and 5.2% in 2025.
The strong growth in job creation across various sectors, especially in real estate and related services, is a clear indicator of the thriving economy in the UAE. With significant increases in employment and promising GDP projections, the demand for real estate properties is expected to rise significantly. This trend has piqued the interest of investors and developers. Investing in the UAE’s property market now could lead to substantial returns as the country continues to attract talent and expand its economic footprint. The combination of job growth, economic stability, and sector-specific advancements makes the UAE an ideal destination for profitable real estate investments.
Sourced from: Cooper Fitch Gulf
Next stop of our Roadshow is «IRAQ’S LARGEST Real Estate Exhibition». Being part of this exhibition is a wonderful opportunity to showcase our projects and services to potential investors and professionals in the industry.
This time Youness El Masoudi is representing our Object 1 team together with the representatives of the “Home sweet Home” agency.
Yesterday, our team has managed not only to successfully present the projects, but also to meet the incredible Goerge Kardahi – TV presenter and Minister of Information.
Let’s continue our roadshow and keep expanding our network all over the globe!
From the first of April 2024 the real estate market of UAE has faced a new regulation concerning the rental price revaluation procedure.
Under the new regulation, landlords are now obligated to provide a court decision or order to increase rental prices (previously, the landlord was just required to pay the fee to the Dubai Land Department).
Currently the main legitimate source for calculating rent increases is the Real Estate Regulatory Authority’s Price Index Calculator or RERA. The system was lately updated ( on March 2024) to ensure fair rent increases in line with the average market rental rates.
Landlords are subject to a cap when raising rent, ensuring they do not exceed a specified limit. This regulation enhances transparency in the rental market.
Let’s have a look at some figures from the first quarter of 2024 in Dubai’s rental property market: 72,885 lease agreements were renewed, involving 145,770 landlords and tenants. However, the number of renewed leases decreased by 7.2% compared to the first quarter of 2023.
Sourced from: https://dubailand.gov.ae/en/rera/#/
In May, the Object 1 team went on an extensive Road Show, visiting five countries: Turkey, Armenia, Iraq, Lebanon, and Turkey.
The trip included many project presentations, investor meetings, and efforts to expand our partner base, all against breathtaking landscapes. The journey was filled with valuable opportunities, great moments and unbelievable beauty at every place.
Next month, we will continue our journey, eager to build on the momentum and successes we’ve achieved so far.