Property prices in Dubai rose in August, but rents continue to fall

Posted on Oct 11, 2021 Source

  • Apartment prices increased 2.5% and villa prices 17.9% in the 12 months to August 2021 which are still 30.4% and 20.5% below, respectively than 2014.
  • In August, apartments rent fell 5.2% yearlong but villa prices soared 15.5% 
  • Average rents in the prime and Grades A to C categories dropped 4.1% and 6.5% year on year in the third quarter.

UFP Industries Inc. acquires Shelter Products for $6.5 million, as factory-built housing expects growth in demand

Posted on Oct 11, 2021 Source

  • UFP's owned UFP Distribution LLC obtained the operating assets of Haleyville, Ala.-based Shelter Products Inc. for $6.5 million, which distributes lumber, plywood, and other building materials in the manufactured housing space.
  • UFP will take over the operation at Shelter Product’s 87,800-square-foot warehouse in Haleyville

Government faces a huge apartment supply shortage of 328,000 as housing demand soars

Posted on Oct 07, 2021 Source

  • The U.S. needs to build an average of 328,000 apartments per year to keep up with the demand of 4.6 million apartments by 2030 and only 186,200 new apartments were built in 2013
  • The slump in the housing market and the economic slowdown have halted the construction of apartments, creating a huge shortage.
  • The changing lifestyle choices and demographic shifts boosted the apartment demand in which 80 million millennials will create 25 million households, favoring rental housing.
  • Regulations, municipal mandates, zoning requirements drive...

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Egypt built 194,200 housing units worth $5 billion in 2019/2020

Posted on Oct 07, 2021 Source

  • The total number of housing units reached 194,200 in 2019/2020 compared to 281,300 in 2018/2019, worth EGP 79 billion ($5 billion) in which economic housing contributed 109,100, middle housing 64,400, upper-middle housing 12,900, and Luxury housing built 7,800 units
  • The government and public business sector built 85,000 of total units of which 38% is in Cairo and 26.8% in Giza
  • The private sector built 109,300 total units in Menoufia Governorate and Cairo

Montreal home sales dropped 28% in September

Posted on Oct 06, 2021 Source

  • In September 2021, home sales decreased from 5,120 of September 2020 to 3,721 and the new listings also dropped from 7,499 to 5,818
  • The median value of single-family homes rose to $504,500, condominiums to $365,000, and plexes to $690,000.

Dubai and Abu Dhabi’s villa prices soared 16.5% and 3.1% in the third quarter of 2021

Posted on Oct 06, 2021 Source

  • In the third quarter of 2021, Dubai’s villa prices increased 16.5% year on year in which 54 homes worth over $10 million were sold
  • Abu Dhabi’s residential prices increased 2% year on year in which villa prices grew 3.1% and apartment prices increased 1.8%, year on year

Al Ramz and Watheeq Proptech VC Fund in partnership to boost housing in Saudi

Posted on Oct 05, 2021 Source

  • Al Ramz the development company and investor Proptech VC Fund partnered to develop affordable and sustainable housing in Saudi Arabia using smart technologies which will supply 1.5 million homes as a part of vision 2030.

Real estate deals increased by 19% in Saudi Arabia

Posted on Oct 05, 2021 Source

  • The real estate transactions in Saudi Arabia increased 19% to SR15.59 billion ($4.1 billion) during August and September from SR13.12 billion ($3.4 billion) of 2020
  • The commercial real estate deals grew 93 % to SR5.2 billion ($1.3 billion) from 2020 and Riyadh witnessed the biggest real estate sales of SR6.88 billion ($1.8 billion).

Sorouh Developments to spend $63 million on a residential project in New Administrative Capital (NAC)

Posted on Oct 05, 2021 Source

  • The real estate developer Sorouh Developments will invest EGP 1 billion ($63 million) in the construction work of a residential project over two years.
  • Sorouh Developments has spent EGP 380 million ($24 million) in this 72-feddan project. 

Shuaa Capital will deliver $2.7 billion property in London

Posted on Oct 05, 2021 Source

  • UAE’s Shuaa Capital plans to complete and give GBP 2 billion ($2.7 billion) worth of property in London.
  • The project will be managed through Shuaa’s owned UK builder which will complete the project in the next 8 months.

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