One of the most iconic malls in not just Dubai but the whole world is about to see a massive overhaul and is going to get even bigger and better. The Mall of the Emirates is on a spending spree and is all set to spend a massive Dh5 billion in an expansion move that is all set to rock and shock shoppers from all over the world. So what is all the hype about, and what is going to happen with the expansion? Well, for starters, they are going to be adding one hundred new stores, a new complex under Vox Cinemas for movie lovers, a new indoor and outdoor dining area, more entertainment areas, and places for health and wellness, which have caught on like wildfire in the not just the United Arab Emirates but in the whole world.

So, who is going to be footing the bill for this? Well, Majid Al Futtaim, the owner and operator of this Dubai icon, has plenty of cash lying around, and they are not afraid to spend it either. They said work is already in progress to add 20,000 square meters of more retail space, with Dh1.1 billion having been splashed out already on the massive expansion, and they have not broken a sweat as of yet. Visitors will “begin to see the results soon” as the mall transforms into an experience-led, multi-sensory destination, a senior Majid Al Futtaim executive said

Expansion marks its Anniversary

The mall’s expansion comes on the occasion of its 20th anniversary and is part of the 2030 vision to create a “Mall of New Possibilities.”

As part of the massive expansion of the mall, a new indoor-outdoor area will be made to create a dynamic mix of fast-casual food court and the best entertainment int he UAE. At its heart will be the mall’s new outdoor Foon & Beverages courtyard, set to debut in the beginning half of 2027. This adaptable space will turn into a lush green oasis in the cooler times of the year.

“We will be announcing high-end restaurants to elevate experiences. There are some incredible uplifts that will be unveiled in due course,” Majid Al Futaim said in a statement to a leading media outlet.

“Market research shows visitors now seek more than just shopping; they want unique experiences, cultural engagement, and seamless convenience,” it said.

The New Covent Garden theater is ready to soft-launch in the middle of 2025, with a grand opening later in this year while the multi-offering area’s lifestyle and entertainment spaces will be open for business by next year. It will have rehearsal areas along with 600 seats.

Massive Entertainment Complex

Four new entertainment offerings will be open for the public by late 2026, together with the launch of the world’s most advanced IMAX setup at VOX Cinemas.

Majid Al Futtaim said the additions also include a total revamp of the West End district, upgrading its design and environment to make a vibrant social hub.

“Two decades ago, Mall of the Emirates set a new benchmark for retail and entertainment in the region. Today, we’re building on that legacy with a bold investment that redefines what a mall can be. This transformation goes beyond physical expansion — it’s about creating new ways for people to connect, unwind, and be inspired, all in one destination,” said Khalifa Bin Braik, who is the CEO, or Chief Executive Officer, of Majid Al Futtaim Asset Management.

A well-diversified group, Majid Al Futtaim owns businesses valued at $19 billion and has more than 43,000 people working for it. It owns and operates more than two dozen shopping malls, several high-end hotels, and almost half a dozen mixed-use communities, which welcome more than 600 million people through their doors annually.

This is a great addition to Dubai, and we are all excited to see it become a success. 

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UAE: Dubizzle Group acquires real estate platform Property Monitor
UAE sets tax nexus rules for non-resident investors in real estate and funds 

Dubizzle Group has revealed that it has bought out Property Monitor, a major real estate market intelligence firm in the United Arab Emirates, on Tuesday. The announcement comes as the nation’s largest online advertisement platform is seen in the league of the big players are expected to go public and float shares on the stock market in 2025.

According to Century Financial, after seeing rapid growth, Dubizzle might be able tap into investor interest in online marketplaces, this is in line with the United Arab Emirate’s push for tech-driven stock market listings. The IPO is expected to be $500 million to $1 billion. The company is set to recruit Rothschild & Co. for the possible listing in Dubai or Abu Dhabi, as per the media buzz.

The acquisition of Property Monitor solidifies and consolodates Dubizzle Group’s leadership in real estate advertisements and technology via a portfolio of market-leading brands, the big names under their belt include the likes of Bayut and their namesake Dubizzle.

Integrating Property Monitor into the wide Dubizzle Group’s real estate choices enhances the value that it offers for marketers like Nouba Real Estate and developers by delivering a much better and data-filled user experience. 

As one of the leading market intelligence firms in the United Arab Emirates, Property Monitor enables major industry players to make data-driven  decisions through PMiQ, its SaaS-based platform, and various things including APIs integration, market intelligence and computer powered  valuations.

With a star studded client base which includes the United Arab Emirate’s leading real estate marketing companies and developers, it has establshed itself as a keyl tool within the United Arab Emirates real estate  for property data, analytics and insights. Dubizzle Group plans to enhance Property Monitor’s product suite by incorporating demand-side data, creating avenues for deeper client engagement.

Property Monitor managed to hit a revenue Compounded Annual Growth Rate  of 55 percent per year from 2022 till last year that is 2024 and gets more than 7,700 regular users every month. The user base is primarily made up of real estate companies and property developers. 

“We are delighted to welcome Property Monitor to the Dubizzle Group real estate portfolio. As a trusted and respected brand in the UAE, Property Monitor complements our market-leading platforms Bayut and dubizzle. This acquisition unlocks new opportunities to enhance the value that Bayut and dubizzle deliver to real estate agents and developers, while reinforcing Dubizzle Group’s position as a leading destination for real estate classifieds in the UAE. It also reflects our broader strategy of targeted acquisitions that strengthen our ability to deliver an exceptional user experience across the region’s real estate and automotive sectors,” stated Haider Ali Khan, CEO of Dubizzle Group – UAE.

The announcement marks Dubizzle Group’s third purchase in the past two years, building on continued growth in the digital marketplace business in the Middle East and North Africa region region. In 2024, Dubizzle Group bought Hatla2ee, a leading marketplace in Egypt for both second hand and new cars. The Group also purchased Drive Arabia, a leading name in the world of automotive news, reviews along with car comparisons in the Gulf region to broaden its options for car buyers and the advertising capability for vehicle manufacturers. 

The purchasing of Property Monitor shows Dubizzle Group’s strategic approach to M&A—targeting related businesses in the MENA area that strengthen the Group’s status within the real estate and automobile industry ecosystem, improve the overall product offering and improve the experience for buyers and clients.

Dubizzle Group’s flagship businesses — dubizzle and Bayut — are market champions across the United Arab Emirates, Saudi Arabia, along with Egypt, with a strong presence in lots of other Middle Eastern countries. With more than 47 million monthly hits and 15 million or users every month, Dubizzle Group’s companies are the region’s go-to places for online classifieds.

Follow Nouba News for more great news and information about the movers and shakers in the MIddle East who are making an impact through their business deals. 

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The UAE: A Rising Retirement Destination 
UAE sets tax nexus rules for non-resident investors in real estate and funds

The government in the United Arab Emirates has rolled out new laws and rules to clarify the tax status of foreigners and others who do not live in the country long term but have real estate holdings in the country. This will deal with investment funds and real estate.

The new rules were rolled out by the Ministry of Finance and the aim is to get greater transparency and cut down the burdens of compliance requirements. This was reported by the Emirates News Agency which is a mouthpiece of the government of Abu Dhabi and is also known as WAM. 

Now, corporate tax will be levied on people in the UAE. Previously, foreigners were not bound to pay corporate taxes. 

Now under the new rules and laws that have been rolled out is that a nexus is going to be considered to be in place for non resident juridical investors in the right kind of qualifying investment funds in particular cases and instances. If they pay out a minimum of 80 percent of their income in the last nine months. This time begins at the end of the financial year of any business. The date of the dividend distribution is the key time to keep in mind. 

When a business hits the threshold then the nexus is set up at the same time that the interest ownership of the person is set. The nexus is also going to be applicable in case the fund is unable to meet the ownership diversity in the time of the tax period. 

The same thing is going to work for Real Estate Investment Trusts. The nexus becomes operational either at the time of the distribution of dividends. This is in the case that 80 percent of them are paid out in the last nine months. The other trigger time is the ownership acquisition if the dividend condition is not met as reported by WAM. 

This is because a lot of companies do not distribute dividends. A lot of the giants of industry like Berkshire for instance do not pay out dividends. The government wants to tax gains as they come. 

If they had not done this then businesses could just hold on to their funds and not distribute dividends. Another way that companies in other countries dodge gains is through things like buybacks. In the UAE the system is clear without any serious kind of confusion. 

For real estate companies or real estate investment trusts the same thing is going to apply as it will for other businesses. Companies like Nouba Real Estate are helping companies navigate the new environment for real estate companies in the UAE. 

Other than these cases, non-resident people who have put down their capital just into REITs or QIFs are still going to be tax exempt. 

The authorities say the reason that they have updated these rules is because of the new compliance laws is to make it easier for global investors. At the same time the goal of the country is to increase transparency. The country was even put on the grey list and does not want to get back on these lists anytime soon. 

Also, as the world moves away from a zero tax system, the UAE is updating its tax codes to make sure they remain in the game.

In December of last year the country rolled out 15 percent taxes on all businesses that are under the legal control of the UAE. 

Follow Nouba News for more updates regarding real estate and other news related to the UAE. 

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For UAE Golden Visas, Dh2m property buys remain the most popular choice

Buying off plan properties to get residency status in the UAE continues to be super popular among a global elite seeking to move their money and families to safe financial destinations. In a world of chaos Dubai continues to attract people and their money. Properties from leading developers like Damac, Emaar and other major developers are super popular.

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Buyers for whom getting a Golden Visa is a priority ‘typically prefer a project that’s just been launched in Dubai as long as the Dh2 million threshold is met’, said an estate agent. “Since the requirement from the authorities for a 50% payment to be made to start processing a Golden Visa has been removed, the interest from buyers has seen no drop.

“Developers will continue to target buyers specifically looking to a Golden Visa residency. 2025 will continue to see more of that.” 

The other overheads are usually in the range of about 8 to 12 thousand dirhams. There are a lot of options for those who are looking ot get residency. Most residents are on work or student visas. However, for the rich who have the resources to invest then Dubai continues to see a long line of well heeled customers who are flocking here. 

But a property investment remains the most favoured – “There is an increase in transactions compared to last year,” shared Libbie Burtinshaw, Head of Operations who works at Sovereign PPG.  

“With more international attention on the 10-year UAE residency through property investment, many of the newcomers are exploring this route to obtain UAE visas.

“We have seen more interest in the Golden Visa program under property in Abu Dhabi too, where the authorities have streamlined the application process. But the minimum payment of Dh2 million is required.”

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Developers and estate agents believe that the visa program will continue to drive sales this year. “The best part is the residency program finds acceptance among all age groups,” said a leading source source. “Whether it’s a 30-something newcomer to the UAE with long term plans or a 50-year old existing resident who is looking at ways to extend his stay in the country to pursue other plans.”

Dubai real estate: Freehold rule changes cause spike in buyers, developments, prices, experts say

Dubai real estate is about to see an even bigger boom as a slew of new projects come on line. This follows the recent government move to allow owners in Al Jaddaf and Sheikh Zayed road to turn their properties into free hold. Also, there is a massive requirement for off plan real estate. At Nouba we expect prices ro rise further and consider it an ideal time to invest. The expected increase is in the range of 30 to 50 percent. 

“Property owners are, of late, increasingly collaborating with real estate companies for joint development, recognising the potential of Dubai’s thriving property market,” Arash Jalili, Founder and CEO of Dubai-based Unique Properties, 

“With the growing demand for freehold off-plan properties, many landowners are eager to enter this dynamic segment,” he said.

Dubai real estate shift

There is a growing trend for joint ventures among industry leaders to come up with the projects that the market demands and to do it in time as well. Sheikh Zayed road in partticular is ripe for a major burst of development. 

“In Al Jaddaf, the current price per sq. ft. ranges between AED 1,400 and AED 1,600. With older buildings being converted into freehold properties, the area is poised for increased investment opportunities and enhanced market accessibility, further strengthening its appeal,” a leading expert said.

A total of 457 plots in Sheikh Zayed Road and Al Jaddaf are going to be able to go for conversion into freehold status, with 128 plots in Sheikh Zayed Road another 329 plots in Al Jaddaf allowing expatriates and foreign investors to come here.

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Freehold drives property value

In the current situation in Dubai this is a great time to invest before property prices rise too much. 

They are also bringing more projects online in order to meet skyrocketing demand for luxury real estate. This includes things like villas which are up in value by more than 30 percent. It is a great time to invest in Dubai. 

Ali Abbar the chairman of the business stressed the company’s dedication to providing premium projects and experiences that enhance value for customers and stakeholders.

Emaar’s financial performance and strategic initiatives are attractive to potential investors. Focusing on sustainable growth, operational efficiency, and customer satisfaction, the company is well-positioned for future success. This is a great chance for local and international buyers to invest in Dubai in order to get the best returns on their investment. Because the revenue and profits are going up so is the value of the property that people continue to buy in droves.

It shows that Dubai is going to dominate the real estate sector going into 2025 and beyond. 

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Not Mumbai or Bengaluru, this Indian city leads in luxury home price boom
UK Housing Market Continues to Slow Down In January

We tend to think of South Mumbai’s seafront apartments or Bengaluru’s tech-driven Penthouses when we imagine the most expensive real estate in India. They are still too expensive for most buyers. These metro cities did not see prices rise as quickly as the capital, which saw the largest spike among Indian cities.

This time the boom in luxury properties is happening in an area you may not have expected. New Delhi is making waves on the housing market, despite its reputation as a political powerhouse. To the shock and surprise of local and international investors, it has even outpaced Mumbai in terms of luxury home price increases.

How this growth will unfold on a long-term basis remains to be seen. Delhi will continue to be the leader or other Indian cities may surpass it. 

A lot of people are investing more and more in Delhi because the returns are very good. In fact some even suggest that Mumbai prices especially in super prime areas might have hit a wall of sorts. This is where Delhi property is the best of the bunch among the larger mega cities of India. 

More and more business is coming to the center of poltiical power in the country and will continue to do so. 

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Ukrainians are actively buying real estate in Turkey
UK Housing Market Continues to Slow Down In January

Last year, Ukrainians purchased over 1,600 real estate properties in Turkey and became the third largest foreign investor in Turkish real estate. In fact they are 3rd only  after people from the Russian Federation and Iran the Islamic Republic of Iran, according to data from the Turkish Statistical Institute (TUIK). This is a remarkable turnaround for the Turkish economy overall as it continues to become more and more attractive. 

It is noted that Turkey is offering great returns on investment for both local and international investors who are fleeing high taxes, wars and other kinds of chaos. The country has become like a second home for many foreigners due to its convenient location at crossroads between Europe and Asia, a warm climate, a profitable real estate market (a wide range of properties, including villas, apartments, etc.), and the opportunity to get a residence permit and even citizenship through the purchase of real estate.

Russia has held first place for many years in a row, even though in 2024 Russian activity fell compared to the previous year. Russians bought 4,867 properties, compared to 16,300 properties in 2022. This was the year war had broken out and they wanted to secure their capital in a safe place like Turkey. 

Now you need to invest 200,000 in order to get residency in Turkey. This is likely to go up even more in the future. If you want to get the best deal it is best to invest now. Prices are going up rapidly as the lira appreciates in value.

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