Dubai’s real estate sector is set for further success this year, with a projected growth of 46% according to new research data from Realiste.

The company’s findings showed that property prices in Dubai grew by 20-40% over the last 12 months. Some areas saw even a bigger upturn – the Palm Jumeirah grew by 59%, and Trade Center First by 210%, the firm revealed.

Realiste is a proptech company based in Dubai; it was launched in the UAE and Saudi Arabia as part of its Middle East North Africa expansion in May 2022. It developed an AI-powered tool that enables investing in real estate in major capital cities, including New York, Abu Dhabi, Dubai, Riyadh, and London. The system also notifies the asset owners when it is the optimum time to buy or sell their properties, the statement explained.

In mid December 2022, the Dubai Land Department said the emirate’s real estate deals exceeded $2.5bn in a week.

This year, Dubai became one of the few beneficiaries of the massive geopolitical crises impacting the globe. It saw the biggest inflow of private wealth this year, as Russian entrepreneurs, investors, and top level professionals were seeking new homes. According to the analytics agency Dsight, more than 16% of Russian companies and entrepreneurs relocated to the UAE and Dubai, in particular, in the first half of the year.

The local real estate market also profited from the FIFA World Cup Qatar 2022 – Dubai became the main beneficiary outside of Qatar, due to its status as a tourist attraction and financial hub of the region, the firm said.

“Dubai will remain attractive to foreign buyers who are seeking to shield their assets. It will strengthen its position as the geopolitical instability and energy crisis grow. As a result, there will be a further boost in demand for local property and the market in 2023,” Alex Galtsev, CEO of Realiste told Khaleej Times.

Later in December 2022, Unique Properties said Dubai’s real estate market would grow by 2% in 2023.

Realiste conducted research based on data collected over 12 months between December 2021 and December 2022. Analytics includes the trends of Dubai’s real estate market: the areas of the city showing the most significant increase, the average cost of properties across the city, and the most high-priced or low-priced locations. The analysis is based on Realiste artificial intelligence technology and provides forecasts for the development of Dubai’s housing market in 2023, it concluded.

Late in December 2022, the Dubai Land Department unveiled its new strategic plan for the 2023-2026 period.

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UAE-based Azizi Developments has said that by the end of 2022, it sold more than 6,000 units, worth US $1.52bn, and is now set for the handover of 11,000 units across 45 projects in Dubai later this year. The handovers will include homes in the first, second and third phases of Riviera, Park Avenue I, II and III in MBR City and Berton in Al Furjan.

With 28.4mn manhours of construction and over 167,000cu/m of concrete having been poured, the developer constructed more than 152 floors across 3.51mn sqft of built-up area in 2022, it said.

During the year, Azizi completed the first seven buildings in Riviera, its French Mediterranean-inspired waterfront lifestyle community in MBR City, as well as the 634-residence condominium, Creek Views I, in Dubai Healthcare City.

In mid June 2022, Azizi began handing over homes in Creek Views I in Dubai Healthcare City and, in early August 2022, it said it was making rapid progress on its Park Avenue residential community.

Commenting on the year’s accomplishments, CEO Farhad Azizi stated, “With our record-breaking sales and construction speed, this year has been an exciting one for us at Azizi. As a catalyst to the UAE’s real estate landscape, vision, and growth, we will continue to add value, developing distinctive homes that set the standards in contemporary building design and quality, and that grant investors and end-users unparalleled, enriched lifestyles.”

With Riviera said to be selling out rapidly, Azizi launched Park Avenue III in MBR City, Rêve, its fourth, most distinguished and luxurious phase of Riviera, and Beach Oasis, two residential commercial buildings with a total of 712 units nestled around a beach-like swimming pool.

The developer said a major achievement for the group in 2022 was the acquisition of a ‘highly coveted plot of land on Sheikh Zayed Road’, on which it will soon be launching the second tallest tower in the UAE.

In mid August 2022, the developer said it had chosen ‘best in class’ suppliers for its Park Avenue project.

Azizi has also signed a deal with Dubai South, acquiring a prominent 15mn sqft plot with 24mn sqft of GFA, for which it will be the master developer, with plans to launch an entire ‘city’, comprising villas, townhouses, residences and other key amenities, the developer concluded.

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The number of smart metres in Dubai has significantly increased from 200,000 in the first phase (completed in 2016) to approximately 2.1mn at present, Dubai Electricity and Water Authority (DEWA) has stated.

Smart metres enable customers to benefit from the Smart Living initiative launched by DEWA, which helps them monitor their consumption independently, the statement from DEWA noted.

In early December 2022, the utility firm said it had completed 93% of fourth phase of its H-Station and, later in the month, it said it began construction of $12.5m Hatta Sustainable Waterfalls project.

“With the directives of the wise leadership, DEWA is working to provide an advanced infrastructure to manage facilities and services through smart and interconnected systems that use technologies of the Fourth Industrial Revolution such as Artificial Intelligence (AI), Unmanned Aerial Vehicles (UAVs), block chain, and the Internet of Things (IoT), among others,” said Saeed Mohammed Al Tayer, MD & CEO of DEWA.

Through smart metres customers can log onto their DEWA accounts through the website or smart app, and view their dashboard to monitor their consumption, and learn about tariff slabs in the residential sector. Customers can also benefit from the initiative by comparing their consumption with similar homes, to help them manage their consumption, DEWA noted.

Al Tayer remarked, “Smart metres provide many advantages for customers to control their consumption proactively and digitally without contacting DEWA, in addition to transforming Dubai into the smartest and happiest city in the world.”

In early January 2023, Digital DEWA subsidiary – Moro Hub – in association with EY launched its first AI driven managed services for Operation Technology (OT) in its Cyber Defense Centre (CDC) in the UAE.

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Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (PJSC) in association with EY, has launched its first Artificial Intelligence (AI) driven managed services for Operation Technology (OT) in Cyber Defense Centre (CDC) in the UAE.

Hosted in Dubai, Moro OT CDC is powered with next generation technologies such as, Data Lake, Artificial Intelligence, and staffed with real-world experienced data scientists, OT and IoT experts, Threat Intelligent and cyber defense experts, said Moro Hub: “Demonstrating its commitment to enhance the cyber security of UAE’s Critical National Infrastructure, Moro OT CDC continuously monitors the ever-evolving threat landscape and provide appropriate response.”

“We are pleased to launch UAE’s first in-country OT CDC as a fully Managed Service model in collaboration with EY. Cyber threats targeting Critical Infrastructure are growing at an alarming rate, which may pose threat to human life, environment and operational assets,” added Dr Ahmed Alketbi, Chief Information Security Officer of Moro Hub.

“The launch of this service will assist organizations dealing with OT/IoT systems to protect from cyber threats and manage cybersecurity incidents through timely threat detection and swift incident response. We are confident that this new OT Cyber Defense Centre will not only strengthen the region’s cybersecurity resiliency and response capability, but its cutting-edge services and its team expertise, will offer better business efficiency and streamline critical infrastructure safety, reliability, and productivity.”

Operational technologies are increasingly getting connected to business systems to support ever demanding operational efficiency requirements. This trend has further increased the existing cyber risks faced due to Industry 4.0 migration, Digital transformation, and IT/OT convergence, which increased the exposure of traditionally air-gapped systems to cyber-attack, making it clear that asset owners need to take a stronger, more integrated approach to security.

“EY is excited to bring advanced cybersecurity monitoring for critical OT and IoT infrastructure to the region through the partnership with MORO Hub.  Cybersecurity monitoring on operational networks and IoT is more paramount than ever as the region continues to see a surge of cybersecurity attacks, along with the advancement in digital disruption and integration of OT and IoT systems.  Together, EY and MORO Hub will provide world class cybersecurity monitoring services to clients to address this critical gap in the market,” said Clinton Firth, Global Energy Cybersecurity Leader, EY.

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Arada has announced the completion of Nest, a premium purpose-built housing cluster in Aljada, the Sharjah-based lifestyle community.

In a statement, Arada said that Nest will allow students to live, study and relax all within the confines of a community with world-class facilities that have carefully been designed to allow learning to flourish.

Located just five minutes’ drive from one of the Middle East’s fastest-growing education hubs, Sharjah’s University City, the US$190.5 million Nest complex features 2,473 fully furnished dormitories (both individual and shared) spread over 12 apartment blocks.

Situated on a 380,000 square foot plot located next to Aljada’s business district, Nest is a smart technology-enabled cluster that sets a new standard for student housing regionally, the developer said.

Each Nest block contains laundry rooms, shared TV rooms and study areas, while different parts of the community have been allocated for men and women, ensuring comfort and privacy for every tenant. Nest’s lengthy list of facilities includes an art studio, a music hall, a library, a state-of-the-art running track that surrounds the complex, an amphitheatre, and a central dining hall, while tenants also have access to male- and female-only swimming pools, gyms and study areas.

Arada has also committed to providing Nest residents with a number of part-time employment opportunities at local retail and food and beverage outlets, both in the complex and in Aljada as a whole, the statement continued.

Ahmed Alkhoshaibi, Group CEO of Arada, said: “Nest is an impeccably designed community that allows students an engaging and inspiring environment within the surroundings of Sharjah’s most exciting lifestyle community. So much more than a place to sleep and study, Nest residents benefit not only from incredible amenities within the complex, but from the facilities in the rest of the Aljada master plan as well.”

He added that Nest will benefit from Aljada’s location adjacent to University City, which contains two of the region’s largest higher education institutions – University of Sharjah and American University of Sharjah (AUS), which between them host some 20,000 students alone, plus an additional eight other colleges and institutions.

The project is also ideally located to serve the more than 60,000-strong student body in nearby Dubai. The complex is a 20-minute drive from Dubai International Academic City, the largest higher education free zone in the world, which has 27,500 students enrolled at its universities during the current academic year.

The completion of Nest means that Arada has now completed 3,955 units in Aljada as a whole, following the completion of the first residential phase of the master community in April this year. Around 4,500 homes are currently under construction at Aljada, where the East Village residential phase and the second Sarab villa complex are both just weeks away from completion.

Spread over a 24 million square foot area and valued at US$6.5 billion, Aljada is Sharjah’s largest ever project and a transformational destination for the Emirate. As well as its numerous residential districts, Aljada also contains extensive retail, hospitality, entertainment, sporting, educational, healthcare components and a business park, all set within a green, walkable master plan.

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Modon Properties, the UAE-based master developer of sustainable communities, has announced the opening of its new desert project, Bab Al Nojoum – Bateen Liwa Resort, which is located at its eco-tourism campsite destination in Liwa, Abu Dhabi emirate.

In a statement, the developer said that the project has been designed for families and individuals looking to reconnect with nature in comfort and luxury. The resort is located in the Al Dhafra region and offers guests an immersive desert experience, with a choice of private one-, two-, and three-bedroom villas that blend luxury with eco-friendly elements and the desert.

Bab Al Nojoum – Bateen Liwa Resort offers guests amenities and services such as accommodations with private plunge pools, deck loungers, patios, and a fire pit, along with views of the sand dunes, a statement said. it added that a 50sqm one-bedroom villa can accommodate up to three campers, while the 86sqm two-bedroom villas can host up to five people. Three-bedroom villas are also available, which can accommodate up to seven people.

The development was inaugurated by Sheikh Hamdan bin Zayed, Ruler’s Representative in Al Dhafra Region, in the presence of Jassem Mohamed Bu Ataba Al Zaabi, Chairman, Department of Finance and Chairman of the Board of Directors, Modon Properties, CEO Bill O’Regan and other officials.

Sheikh Hamdan said that the project will help enhance the region’s eco-tourism sector and enrich Al Dhafra’s portfolio of projects and elevate it as a destination on the UAE’s tourism landscape.

“The opening of Bab Al Nojoum – Bateen Liwa Resort comes at a time when Al Dhafra region is witnessing significant momentum in the construction of exceptional touristic and residential destinations, in line with the growth strategies and expansion plans of the government,” he stated.

He added that the resort will also offer a range of cultural and wellness experiences to cater to the needs of both adults and children.

Jassem Mohamed highlighted that the launch underscores Modon Properties commitment to developing destinations that elevate Abu Dhabi’s position on the world stage.

“Our world-class projects and attractions will continue to help build the emirate’s tourism infrastructure while adhering to strict environmental standards through our zero-waste, carbon- and plastic-free policy.

“The opening of Bab Al Nojoum – Bateen Liwa Resort marks our fifth destination opened in Abu Dhabi this year, a strong testament to our commitment to meeting the leisure and entertainment needs of residents and visitors,” he concluded.

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Emirates Central Cooling Systems Corporation (Empower) has announced that it has successfully completed the re-certifications of three key ISO certifications: ISO 9001:2015 for quality management systems; ISO 45001:2018 for occupational health and safety; and ISO 14001:2015 for environmental management systems.

Announcing these key milestones, Empower said it achieved these re-certifications through the successful completion of audits conducted by Bureau Veritas across various sites and protocols, including the group’s integrated management systems, district cooling plants, new project sites and customer service centres.

CEO Ahmad bin Shafar said: “Our success in the re-certification of ISO is a confirmation of the sustainability of our work, and the continued development of our organisation. It confirms our strong performance indicators which were reflected in the integrated administrative systems audit. Moreover, it stresses our commitment to international standards: the re-certification for the Quality management systems, ISO 9001:2015, accredited by the UKAS Management System, is the result of the continuous improvement in the efficiency of our quality management system to ensure provision of comprehensive quality services to customers and promoting their happiness.”

As for the re-certification for the environmental management systems, ISO 14001:2015, Ahmad bin Shafar emphasised that Empower continues its efforts to preserve the environment, according to the most relevant international standards.

This is based on its social and economic responsibility to protect natural resources and preserve them for future generations, as well as constantly developing its services in an environmentally friendly manner, he added.

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Khalifa Economic Zones Abu Dhabi (Kezad) has announced signing a preliminary agreement with Dana Steel, the flagship manufacturing unit of industrial conglomerate Dana Group, for the establishment of its first hot and cold rolling steel complex in the UAE capital.

As per the agreement, Dana Steel will make a key investment to develop a 50,000sq. m. facility within the integrated trade, logistics and industrial hub of Abu Dhabi.

Established in 2017, and catering to consumer markets across more than 50 countries throughout the Middle East, Africa, Europe, and the Americas, Dana Steel is one of the region’s largest and most modern manufacturers of Hot Dip Galvanized, Aluzinc, Prepainted Galvanized, Prepainted Aluzink and Prepainted Aluminum steel coils and sheets.

The new complex will facilitate backward integration of the company’s continuous galvanising and continuous colour coating lines and will have 500,000 MT rolling capacity, said a statement from Kezad Group.

This approach will help boost Dana Steel’s manufacturing capacity in the Gulf region by replacing imported raw materials, such as cold rolled full hard coils, with a new Made in UAE supply.

By providing a base for Dana Steel’s facility in Abu Dhabi, Kezad Group is extending its support for the Abu Dhabi Industrial Strategy, which looks to more than double the size of the emirate’s manufacturing sector to AED172bn by 2031 through a series of transformational programmes.

Group CEO Mohamed Al Khadar Al Ahmed said: “Owing to the modern infrastructure and efficient transportation network offered by Kezad and Khalifa Port, investors such as Dana Steel are selecting our industrial ecosystem as a base from which to grow their operations in the UAE and globally. By enabling vertical integration of their manufacturing supply chain, we look forward to supporting Dana Steel on its journey to serve customers and expand its international reach.”

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