Dubai Municipality has awarded contracts for the second phase of the Al Mamzar Beach Development Project. Spanning 125,000 sq. metres, it is expected to be completed by the end of 2025 with a total cost of $108m.

Dubai’s real estate sector has achieved a historic milestone in 2024, with a record 180,900 transactions totalling $142bn. This marks a 36% increase in transaction volume and a 27% rise in value compared to the previous high of 133,100 sales worth $111bn in 2023.

Dubai Land Department (DLD) has unveiled plans to introduce its Smart Rental Index in January 2025, a cutting-edge initiative designed to revolutionise the emirate’s real estate sector.

South Korean hospitality technology leader ONDA is expanding into the Middle East through a joint venture with UAE-based Seed Group. This move will leverage Seed Group’s regional networks to help establish ONDA’s presence in the growing MENA hospitality market.

UAE real estate developer Reportage Group has announced sales of $1.5bn, a growth of 50% compared to 2023. The company’s portfolio spans 50 projects including 312 townhouse units in Abu Dhabi’s Reportage Village, Verdana’s new phase in Dubai, and the Najd project in Saudi Arabia.

Dubai South Properties has successfully completed the first phase of its Pulse Beachfront luxury development. It includes 251 units with a mix of three- to five-bedroom villas and is located in the Dubai South Residential District which is home to over 25,000 residents.

Dan Company, a PIF firm focused on ecotourism, has partnered with Abdulmohsen Al-Tamimi Contracting Company to build the first luxury resorts in Al-Ahsa, Saudi Arabia. This marks another  milestone in the nation’s growing tourism and hospitality sectors.