CBRE DUBAI MARKET REPORT
Explore the opulence of Dubai's real estate market with Mira Real Estate
Dubai's opulent real estate scene attracts many of India's high-net-worth individuals. About 40% of buyers are from India. Mira Real Estate aids in securing elite properties offering luxury lifestyles and substantial investment returns, highlighting Dubai's allure as a premier investment hub.
Luxury segment housing sales rise by 27% in H1FY24 across top seven cities
In the first half of 2024, India's luxury housing market priced above Rs 4 crore saw a robust 27% year-on-year sales increase, totaling 8,500 units. Delhi-NCR, Mumbai, and Hyderabad led growth, with Pune notably surging six-fold in sales to 1,100 units. The market anticipates sustained momentum driven by affluent buyer preferences and infrastructure developments.
Oilmeals export declines by 9% in Q1 FY 2034-25; June exports down by 20%: Report
Foreign direct investments (FDI) in India’s information and broadcasting sector increased by 87% to Rs 7,012 crore for the fiscal year ending March 31, 2024, up from Rs 3,745 crore the previous year, according to DPIIT. A significant portion, Rs 4,306 crore, came from Bodhi Tree Systems' investment in Viacom 18, representing over 60% of the total FDI.
Britain likely to lose nearly one in six millionaires by 2028: Report
A UBS report predicts a 17% drop in U.S. dollar millionaires in Britain by 2028, citing high numbers and policy changes. Conversely, the U.S. and Taiwan will see millionaire growth. Global wealth increased by 4.2% in 2023. Asia-Pacific leads in wealth growth but also debt increase, with Taiwan expected to see a 47% rise in millionaires.
Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
Is Dubai becoming the ultimate destination for ultra-rich home buyers?
Knight Frank reports 190 luxury homes sold in Dubai, each over $10 million, with top areas Palm Jumeirah, Emirates Hills, and District One. Sales trends highlight personal use demand. Dubai, a tourism and trade hub, attracted 17.15 million visitors last year. Second-quarter sales of $25 million homes rose 25%.
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This Indian city sees third highest jump in prime residential property prices in the world: Report
In Q1 2024, Mumbai led Indian cities with an 11.5% year-on-year increase in prime residential prices, ranking third globally in Knight Frank's Prime Global Cities Index. Delhi followed with a 10.5% rise, securing fifth place. Knight Frank attributed the surges to India's robust economic growth, with GDP exceeding 8% annually. 'Prime Global Cities Index' is a valuation-based index tracking the movement of prime residential prices across 46 cities worldwide.
Why are India's richie rich choosing Dubai to migrate?
A report by Henley & Partners reveals that approximately 4,300 millionaires are expected to leave India this year, with many choosing the UAE as their destination. The UAE's appeal lies in its business opportunities, financial benefits, and high-quality lifestyle, attracting both wealthy individuals and professionals.
Julius Baer targets rich Indians in Dubai with UBS, JPMorgan hires
Julius Baer Group Ltd. hired senior bankers from UBS Group AG and JPMorgan Chase & Co. to strengthen its business serving wealthy Indians in Dubai.
UAE looking to expand scope of trade under CEPA with India: Official
The UAE aims to expand the Comprehensive Economic Partnership Agreement (CEPA) with India, signed on February 18, 2022, to enhance bilateral trade. Feryal Ahmadi, COO of Dubai Multi-Commodities Centre, highlighted potential sectors like agri-commodities and critical minerals. She emphasized India's significance as a trading partner and discussed the growth in UAE-India CEPA trade.
India to be power house for future airline growth on travel eagerness, growing population: Report
India is expected to be a power house for future airline growth driven by the eagerness of people to travel and growing population, according to a report. In a report, the Netherlands-based ING Bank NV said India is set to deliver strong structural growth figures, and airlines are preparing for this with historically large orders for new aircraft from carriers Indigo and Air India.
Ola CFO exits; India’s data centre edge
Kartik Gupta, chief financial officer, Ola Cabs has stepped down, just two weeks after chief executive Hemant Bakshi’s exit. This and more in today’s ETtech Top 5.
Mumbai and Delhi feature among the World's Top 50 Wealthiest cities, surpassing Washington DC
Mumbai and Delhi have secured positions among the world's top 50 wealthiest cities, surpassing Washington DC in wealth concentration. This ranking, released by Henley and Partners, highlights the economic prowess of these Indian cities and their growing appeal to high-net-worth individuals (HNWIs).
Luxury housing sale reports 10% growth during Jan-Mach 2024
Luxury segment housing in top cities grows 10% Y-o-Y, Mumbai leads. Anshuman Magazine cites robust fundamentals. Gurgaon emerges as luxury market with eco-friendly features. Jubilee Hills sees luxury demand.
Buying a home in Dubai? Do a FEMA reality check
Navigating property purchases in Dubai can be a regulatory maze for Indians due to foreign exchange laws. Deals offering easy payment plans with instalments over years may violate FEMA. Regulations permit remittance of $250,000 per individual annually for property purchases abroad. However, transactions involving 'instalments' create obligations in foreign exchange, potentially breaching FEMA rules.
India exports record 48.86 lakh tonnes oilmeal in FY24: SEA
The industry body said the export of soyabean meal revived during the year and reported at 21.33 lakh tonnes in 2023-24 fiscal, compared to 10.22 lakh tonnes in 2022-23 as Indian soybean meal was most competitive in the international market.
Majority of senior living projects in India are in South India: Report
The southern region distinctly leads by contributing about 74% to the overall supply, particularly in organised assisted living segments. This promising trend is driven by several factors, including higher affordability levels and a growing acceptance of nuclear family structures, as evidenced by a higher proportion of elderly living alone compared to the northern states.
Coworking firms take on lease 31 lakh sq ft office space in Jan-Mar, up 7pc annually: CBRE
In its latest report on the Indian office market, real estate consultant CBRE noted that flexible operators became second largest contributor to the total gross demand for office spaces during the quarter ended March 2024.
Holy cities like Ayodhya, Varanasi attracting big retail brands: Report
Retail brands are expanding their presence in key Indian cities like Ayodhya, Varanasi, Amritsar, Puri, Tirupati, and Ajmer, as they capitalize on the surge in spiritual tourism. The report identifies Amritsar, Ajmer, Varanasi, Katra, Somnath, Shirdi, Ayodhya, Puri, Tirupati, Mathura, Dwarka, Bodh Gaya, Guruvayur, and Madurai as key cities witnessing this retail boom.
Realty fund flows into small town India boom
Capital flows in India's tier-II and tier-III cities doubled in 2023 to a record $1.3 billion, driven by robust real estate demand. Developers flocked to these cities for land acquisitions, and private equity interest is growing across sectors like e-commerce and startups.
Luxury brands prefer high streets, lease 600,000 sq ft in 2023
High streets have become the top choice for luxury brands in India, with over 100% year-on-year growth in leasing in 2023, according to CBRE data. Malls remain the second most preferred category, with 300% year-on-year growth. Luxury brands are aggressively seeking new avenues to attract both seasoned and aspiring luxury consumers in India. The surge in leasing has been accompanied by the entry and expansion of various international luxury brands across different locations.
Luxe Brands Expand, Lease More Space
The luxury retail market in India is experiencing robust growth, with luxury watch, jewelry, fashion, and apparel brands leasing 600,000 square feet in 2023, marking the highest in six years, according to CBRE data. The share of luxury brands in overall leasing rose to 9% in 2023 from 3% in 2018. The expansion is attributed to growing consumer aspiration for global brands, increased disposable income, and the growth of organized retail spaces in major cities. International brands such as La Vie en Rose, Rimowa, Bugatti Fashion, and Victoria's Secret have made significant expansions in the Indian market.
Flex office space operators leases 1.6 million sq ft in tier 2 cities
Flexible office space operators are leasing space in tier 2 cities like Ahmedabad, Indore, Lucknow, and Bhubaneswar. According to CBRE, flex office space operators took 1.6 million sq ft in 2023 in 10 tier 2 cities. The report highlights the potential of markets such as Chandigarh, Jaipur, Coimbatore, Thiruvananthapuram, and Vishakhapatnam.
MIDC-Thane, Greater Noida, Manesar top in land costs for warehouses
Manesar and Greater Noida in the NCR and Maharashtra Industrial Development Corporation (MIDC) in Thane are among the costliest locations to acquire land for building a warehouse, with prices ranging from '15-30 crore per acre, compared to the average price of '2-5 crore per acre in other top markets in the country, according to CBRE.
Dubai’s red-hot property market is bracing for a slowdown
So far, the boom has been underpinned by an influx of wealthy investors such as Russians seeking to shield their assets, crypto millionaires and rich Indians seeking second homes. The government’s handling of the pandemic and its liberal visa policies also attracted more foreign buyers.
Indian investors invested USD 335 million in Dubai’s market in H1 2023 : Report
Indian investments (FDI) in Dubai nearly doubled from 2020 to 2022, reaching USD 541 mn in 2022. The first six months of 2023 accounted for 62% of investments (FDI) in the whole previous year. Indian investors made significant purchases, exceeding USD 4 bn, in Dubai's residential market in 2022.
Hyderabad office sector to witness an addition of 35-38 mn. sq. ft. of investment-grade business parks by 2023-25
The city's investment-grade office stock surpassed 100 million square feet in 2022 and crossed 119 million square feet by the end of the Jul-Sep 2023, quarter, a significant increase of 63% from 73 million sq. ft. stock in 2019. Hyderabad stood among the top 3 cities dominating office space leasing in Jan-Sep’23 at 6.6 mn. sq. ft., with 35% y-o-y, increase. Key sectors that drove absorption included Life sciences, BFSI and technology.
Dubai and the UAE: A global wealth nexus
Dubai and the UAE are flourishing global wealth magnets, offering tax benefits, a thriving business environment, and strategic allure for HNWIs and businesses pursuing prosperity.
Retail leasing grows 24% year-on-year in the first half of 2023
Retail leasing in India saw a 24% YoY growth during Jan-Jun 2023 and a 15% rise QoQ, according to a CBRE report. The Jan-Jun 2023 period recorded a 148% YoY increase in total supply. Bangalore, Delhi-NCR and Ahmedabad accounted for a cumulative share of 65% in leasing activity. Domestic firms led the leasing activity during the Apr-Jun 2023 period, accounting for 75% of the share.
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