VILLA PRICES FROM CBRE: Palm Jumeirah: Dh3,921 per square foot — up 3.1 per cent in December month on month, up 2.6 per cent in November, up 3.0 per cent in October, up 0.2 per cent in September, up 1.9 per cent in August, up 4.6 per cent in July, up 4.9 per cent in June, up 5 per cent a month in May, up 5 per cent in April.
VILLA PRICES FROM CBRE: Palm Jumeirah: Dh3,921 per square foot — up 3.1 per cent in December month on month, up 2.6 per cent in November, up 3.0 per cent in October, up 0.2 per cent in September, up 1.9 per cent in August, up 4.6 per cent in July, up 4.9 per cent in June, up 5 per cent a month in May, up 5 per cent in April.
Jumeirah: Dh2,270 per square foot — down 0.4 per cent in December, up 2.9 per cent in November, up 3.6 per cent in October, up 2.3 per cent in September, down 1.1 per cent in August, up 2.2 per cent in July, up 1.0 per cent in June, up 2.0 per cent in May, up 3.7 per cent in April. Sarah Dea / The National
Jumeirah: Dh2,270 per square foot — down 0.4 per cent in December, up 2.9 per cent in November, up 3.6 per cent in October, up 2.3 per cent in September, down 1.1 per cent in August, up 2.2 per cent in July, up 1.0 per cent in June, up 2.0 per cent in May, up 3.7 per cent in April. Sarah Dea / The National
Emirates Hills: Dh2,268 per square foot — down 0.3 per cent in December, up 4.6 per cent in November, down 3.6 per cent in October, up 3.8 per cent in September, no change in August, up 0.3 per cent in July, up 3.3 per cent in June, up 1.8 per cent in May, up 1.8 per cent in April. Photo: Knight Frank
Emirates Hills: Dh2,268 per square foot — down 0.3 per cent in December, up 4.6 per cent in November, down 3.6 per cent in October, up 3.8 per cent in September, no change in August, up 0.3 per cent in July, up 3.3 per cent in June, up 1.8 per cent in May, up 1.8 per cent in April. Photo: Knight Frank
District One: Dh2,025 per square foot — down 3.1 per cent per cent in December, up 1.6 per cent in November, up 3.2 per cent in October, up 2.4 per cent in September, down 2.1 per cent in August, up 2.2 per cent in July, up 4.1 per cent in June, up 2.3 per cent in May, down 0.9 per cent in April. Satish Kumar / The National
District One: Dh2,025 per square foot — down 3.1 per cent per cent in December, up 1.6 per cent in November, up 3.2 per cent in October, up 2.4 per cent in September, down 2.1 per cent in August, up 2.2 per cent in July, up 4.1 per cent in June, up 2.3 per cent in May, down 0.9 per cent in April. Satish Kumar / The National
Mohammed bin Rashid City: Dh1,733 per square foot — up 0.5 per cent in December, up 3.1 per cent in November, up 0.7 per cent in October, up 0.6 per cent in September, up 1.2 per cent in August, up 3.6 per cent in July, up 4.0 per cent in June, up 0.1 per cent in May, up 0.7 per cent in April.
Mohammed bin Rashid City: Dh1,733 per square foot — up 0.5 per cent in December, up 3.1 per cent in November, up 0.7 per cent in October, up 0.6 per cent in September, up 1.2 per cent in August, up 3.6 per cent in July, up 4.0 per cent in June, up 0.1 per cent in May, up 0.7 per cent in April.
Dubai Hills: Dh1,653 per square foot — up 2.4 per cent in December, up 1.6 per cent in November, up 2.3 per cent in October, up 1.0 per cent in September, up 0.9 per cent in August, down 0.2 per cent in July, up 4.1 per cent in June, up 1.2 per cent in May, up 1.5 per cent in April. Photo: Emaar Malls Management
Dubai Hills: Dh1,653 per square foot — up 2.4 per cent in December, up 1.6 per cent in November, up 2.3 per cent in October, up 1.0 per cent in September, up 0.9 per cent in August, down 0.2 per cent in July, up 4.1 per cent in June, up 1.2 per cent in May, up 1.5 per cent in April. Photo: Emaar Malls Management
The Meadows: Dh1,559 per square foot — down 1.5 per cent in December, down 0.2 per cent in November, up 2.2 per cent in October, up 1.2 per cent in September, up 1.5 per cent in August, up 2.5 per cent in July, up 0.9 per cent in June, up 1.6 per cent in May, down 0.5 per cent in April. Jeffrey E Biteng / The National
The Meadows: Dh1,559 per square foot — down 1.5 per cent in December, down 0.2 per cent in November, up 2.2 per cent in October, up 1.2 per cent in September, up 1.5 per cent in August, up 2.5 per cent in July, up 0.9 per cent in June, up 1.6 per cent in May, down 0.5 per cent in April. Jeffrey E Biteng / The National
The Lakes: Dh1,514 per square foot — up 1.2 per cent in December, up 2.2 per cent in November, down 1.3 per cent in October, down 1.1 per cent in September, up 1.3 per cent in August, up 1.3 per cent in July, up 1.6 per cent in June, up 1.2 per cent in May, up 1.0 per cent in April. Pawan Singh / The National
The Lakes: Dh1,514 per square foot — up 1.2 per cent in December, up 2.2 per cent in November, down 1.3 per cent in October, down 1.1 per cent in September, up 1.3 per cent in August, up 1.3 per cent in July, up 1.6 per cent in June, up 1.2 per cent in May, up 1.0 per cent in April. Pawan Singh / The National
Jumeirah Islands: Dh1,586 per square foot — up 1.9 per cent in December, down 0.4 per cent in November, up 3.9 per cent in October, up 2.9 per cent in September, down 3.7 per cent in August, down 0.1 per cent in July, up 3.6 per cent in June, up 0.9 per cent in May, up 2.5 per cent in April. Photo: Prestige Dubai
Jumeirah Islands: Dh1,586 per square foot — up 1.9 per cent in December, down 0.4 per cent in November, up 3.9 per cent in October, up 2.9 per cent in September, down 3.7 per cent in August, down 0.1 per cent in July, up 3.6 per cent in June, up 0.9 per cent in May, up 2.5 per cent in April. Photo: Prestige Dubai
Jumeirah Golf Estates: Dh1,409 per square foot — down 3.7 per cent in December, down 0.8 per cent in November, down 1.6 per cent in October, up 4.6 per cent in September, down 1.4 per cent in August, up 4.4 per cent in July, down 1.1 per cent in June, up 3.6 per cent in May, up 4.6 per cent in April. Pawan Singh / The National
Jumeirah Golf Estates: Dh1,409 per square foot — down 3.7 per cent in December, down 0.8 per cent in November, down 1.6 per cent in October, up 4.6 per cent in September, down 1.4 per cent in August, up 4.4 per cent in July, down 1.1 per cent in June, up 3.6 per cent in May, up 4.6 per cent in April. Pawan Singh / The National
The Springs: Dh1,173 per square foot — down 1.0 per cent in December, up 1.7 per cent in November, up 0.9 per cent in October, up 1.0 per cent in September, down 0.4 per cent, up 3.9 per cent in July, up 0.8 per cent in June, up 1.8 per cent in May, up 2.1 per cent in April. Photo: Better Homes
The Springs: Dh1,173 per square foot — down 1.0 per cent in December, up 1.7 per cent in November, up 0.9 per cent in October, up 1.0 per cent in September, down 0.4 per cent, up 3.9 per cent in July, up 0.8 per cent in June, up 1.8 per cent in May, up 2.1 per cent in April. Photo: Better Homes
Arabian Ranches: Dh1,232 per square foot — down 0.8 per cent in December, up 0.5 per cent in November, up 1.3 per cent in October, up 1.4 per cent in September, up 0.8 per cent in August, down 2.5 per cent in July, up 1.7 per cent in June, up 0.7 per cent in May, up 3.7 per cent in April. Pawan Singh / The National
Arabian Ranches: Dh1,232 per square foot — down 0.8 per cent in December, up 0.5 per cent in November, up 1.3 per cent in October, up 1.4 per cent in September, up 0.8 per cent in August, down 2.5 per cent in July, up 1.7 per cent in June, up 0.7 per cent in May, up 3.7 per cent in April. Pawan Singh / The National
Meydan City: Dh1,223 per square foot — up 2.8 per cent in December, down 0.7 per cent in November, up 0.8 per cent in October, up 0.4 per cent in September, up 0.6 per cent in August, down 0.4 per cent in July, up 1.3 per cent in June, up 0.9 per cent in May, up 0.9 per cent in April.
Meydan City: Dh1,223 per square foot — up 2.8 per cent in December, down 0.7 per cent in November, up 0.8 per cent in October, up 0.4 per cent in September, up 0.6 per cent in August, down 0.4 per cent in July, up 1.3 per cent in June, up 0.9 per cent in May, up 0.9 per cent in April.
Al Barari: Dh1,282 per square foot — up 0.8 per cent in December, down 1.2 per cent in November, up 1.0 per cent in October, up 2.9 per cent in September, up 2.2 per cent in August, up 3.5 per cent in July, up 3.0 per cent in June, down 0.7 per cent in May, up 4.9 per cent in April. Photo: Luxhabitat
Al Barari: Dh1,282 per square foot — up 0.8 per cent in December, down 1.2 per cent in November, up 1.0 per cent in October, up 2.9 per cent in September, up 2.2 per cent in August, up 3.5 per cent in July, up 3.0 per cent in June, down 0.7 per cent in May, up 4.9 per cent in April. Photo: Luxhabitat
Jumeirah Park: Dh1,189 per square foot — up 4.5 per cent in December, up 2.9 per cent in November, down 2.0 per cent in October, down 1.9 per cent in September, up 0.4 per cent in August, up 0.4 per cent in July, up 3.8 per cent in June, up 0.2 per cent in May, up 0.8 per cent in April. Pawan Singh / The National
Jumeirah Park: Dh1,189 per square foot — up 4.5 per cent in December, up 2.9 per cent in November, down 2.0 per cent in October, down 1.9 per cent in September, up 0.4 per cent in August, up 0.4 per cent in July, up 3.8 per cent in June, up 0.2 per cent in May, up 0.8 per cent in April. Pawan Singh / The National
Victory Heights: Dh1,181 per square foot — up 4.0 per cent in December, down 0.3 per cent in November, up 4.2 per cent in October, down 0.9 per cent in September, down 1.3 per cent in August, down 0.3 per cent in July, up 1.4 per cent in June, up 3.7 per cent in May, down 2.2 per cent in April. Photo: Luxhabitat
Victory Heights: Dh1,181 per square foot — up 4.0 per cent in December, down 0.3 per cent in November, up 4.2 per cent in October, down 0.9 per cent in September, down 1.3 per cent in August, down 0.3 per cent in July, up 1.4 per cent in June, up 3.7 per cent in May, down 2.2 per cent in April. Photo: Luxhabitat
Mudon: Dh1,066 per square foot — up 1.1 per cent in December, up 4.1 per cent in November, down 0.7 per cent in October, up 2.1 per cent in September, down 2.6 per cent in August, up 0.9 per cent in July, up 1.4 per cent in June, down 0.5 per cent in May, up 2.7 per cent in April. Satish Kumar / The National
Mudon: Dh1,066 per square foot — up 1.1 per cent in December, up 4.1 per cent in November, down 0.7 per cent in October, up 2.1 per cent in September, down 2.6 per cent in August, up 0.9 per cent in July, up 1.4 per cent in June, down 0.5 per cent in May, up 2.7 per cent in April. Satish Kumar / The National
Jumeirah Village Triangle: Dh996 per square foot — down 2.9 per cent in December, down 0.6 per cent in November, up 2.8 per cent in October, up 0.4 per cent in September, up 0.7 per cent in August, down 0.1 per cent in July, up 3.7 per cent in June, down 0.2 per cent in May, up 2.3 per cent in April. Pawan Singh / The National
Jumeirah Village Triangle: Dh996 per square foot — down 2.9 per cent in December, down 0.6 per cent in November, up 2.8 per cent in October, up 0.4 per cent in September, up 0.7 per cent in August, down 0.1 per cent in July, up 3.7 per cent in June, down 0.2 per cent in May, up 2.3 per cent in April. Pawan Singh / The National
Sustainable City: Dh970 per square foot — down 0.8 per cent in December, up 1.2 per cent in November, down 0.4 per cent in October, up 0.5 per cent in September, down 0.7 per cent in August, up 0.7 per cent in July, up 2.6 per cent in June, down 0.8 per cent in May, up 0.6 per cent in April. Antonie Robertson / The National
Sustainable City: Dh970 per square foot — down 0.8 per cent in December, up 1.2 per cent in November, down 0.4 per cent in October, up 0.5 per cent in September, down 0.7 per cent in August, up 0.7 per cent in July, up 2.6 per cent in June, down 0.8 per cent in May, up 0.6 per cent in April. Antonie Robertson / The National
Town Square: Dh826 per square foot — up 1.2 per cent in December, down 0.9 per cent in November, up 1.5 per cent in October, up 0.4 per cent in September, up 0.6 per cent in August, up 0.6 per cent in July, down 0.8 per cent in June, down 1.0 per cent in May, up 1.4 per cent in April. Satish Kumar / The National
Town Square: Dh826 per square foot — up 1.2 per cent in December, down 0.9 per cent in November, up 1.5 per cent in October, up 0.4 per cent in September, up 0.6 per cent in August, up 0.6 per cent in July, down 0.8 per cent in June, down 1.0 per cent in May, up 1.4 per cent in April. Satish Kumar / The National
Living Legends: Dh831 per square foot — up 3.9 per cent in December, down 3.0 per cent in November, down 4.2 per cent in October, down 1.9 per cent in September, up 2.6 per cent in August, up 0.7 per cent in July, up 4.0 per cent in June, up 1.2 per cent in May. Pawan Singh / The National
Living Legends: Dh831 per square foot — up 3.9 per cent in December, down 3.0 per cent in November, down 4.2 per cent in October, down 1.9 per cent in September, up 2.6 per cent in August, up 0.7 per cent in July, up 4.0 per cent in June, up 1.2 per cent in May. Pawan Singh / The National
Jumeirah Village Circle: Dh652 per square foot — up 4.6 per cent in December, up 3.7 per cent in November, down 1.8 per cent in October, down 1.3 per cent in September, down 1.4 per cent in August, up 3.3 per cent in July, down 1.6 per cent in June, up 0.8 per cent in May, up 1.3 per cent in April. Antonie Robertson / The National
Jumeirah Village Circle: Dh652 per square foot — up 4.6 per cent in December, up 3.7 per cent in November, down 1.8 per cent in October, down 1.3 per cent in September, down 1.4 per cent in August, up 3.3 per cent in July, down 1.6 per cent in June, up 0.8 per cent in May, up 1.3 per cent in April. Antonie Robertson / The National
Falconcity of Wonders: Dh754 per square foot — up 0.5 per cent in December, down 0.8 per cent in November, up 0.9 per cent in October, down 2.0 per cent in September, up 4.8 per cent in August, up 0.7 per cent in July, flat in June, down 2.5 per cent in May, up 1.6 per cent in April. Sarah Dea / The National
Falconcity of Wonders: Dh754 per square foot — up 0.5 per cent in December, down 0.8 per cent in November, up 0.9 per cent in October, down 2.0 per cent in September, up 4.8 per cent in August, up 0.7 per cent in July, flat in June, down 2.5 per cent in May, up 1.6 per cent in April. Sarah Dea / The National
Damac Hills 2: Dh605 per square foot — up 0.4 per cent in December, up 1.3 per cent in November, down 1.2 per cent in October, down 0.4 per cent in September, down 0.5 per cent in August, down 0.4 per cent in July, down 1.6 per cent in June, up 1.0 per cent in May, up 1.3 per cent in April. Photo: Allsopp & Allsopp
Damac Hills 2: Dh605 per square foot — up 0.4 per cent in December, up 1.3 per cent in November, down 1.2 per cent in October, down 0.4 per cent in September, down 0.5 per cent in August, down 0.4 per cent in July, down 1.6 per cent in June, up 1.0 per cent in May, up 1.3 per cent in April. Photo: Allsopp & Allsopp

Business

Property

Dubai property prices: where they rose and fell in December 2022

Palm Jumeirah continues to lead the way as the costliest area to buy a property in the emirate

Ian Oxborrow
Ian Oxborrow

January 10, 2023

  • English
  • Arabic

Dubai's property market closed a record-breaking year with further price rises, according to a new report.

The 8,662 real estate transactions in Dubai in December took the total number of transactions in the year to 90,881, exceeding the previous high of 81,182 in 2009, property consultancy CBRE said in its latest Dubai Residential Market Snapshot.

Sales prices for apartments rose 0.6 per cent month on month to an average of Dh1,168 ($318) per square foot, while villa prices rose 0.8 per cent to an average of Dh1,385 per square foot over the same period, CBRE noted.

Average property prices increased by 9.5 per cent during the course of the year, with apartments up 9 per cent and villas up 12.8 per cent.

In the apartment segment, Jumeirah remains the most expensive area to buy per square foot at Dh2,324, while for villas, Palm Jumeirah registered the highest sales rate per square foot at Dh3,921.

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Dubai apartment prices

APARTMENT PRICES BY CBRE: Jumeirah: Dh2,324 per square foot — up 0.6 per cent in December, up 3.7 per cent in November, up 3.3 per cent in October, up 0.2 per cent in September, up 3.4 per cent in August, up 0.1 per cent in July, up 1.8 per cent in June, up 3.6 per cent in May, up 3.5 per cent in April. The National
APARTMENT PRICES BY CBRE: Jumeirah: Dh2,324 per square foot — up 0.6 per cent in December, up 3.7 per cent in November, up 3.3 per cent in October, up 0.2 per cent in September, up 3.4 per cent in August, up 0.1 per cent in July, up 1.8 per cent in June, up 3.6 per cent in May, up 3.5 per cent in April. The National
The Palm Jumeirah: Dh2,171 per square foot — up 1.9 per cent in December, up 5.0 per cent in November, down 2.1 per cent in October, up 4.5 per cent in September, up 2.0 per cent in August, up 1.5 per cent in July, down 4.2 per cent in June, up 4.2 per cent in May, up 4 per cent in April. Antonie Robertson / The National
The Palm Jumeirah: Dh2,171 per square foot — up 1.9 per cent in December, up 5.0 per cent in November, down 2.1 per cent in October, up 4.5 per cent in September, up 2.0 per cent in August, up 1.5 per cent in July, down 4.2 per cent in June, up 4.2 per cent in May, up 4 per cent in April. Antonie Robertson / The National
Downtown Dubai: Dh2,170 - up 0.4 per cent in December, up 0.6 per cent in November, up 2.5 per cent in October, down 0.3 per cent in September, up 1.5 per cent in August, up 1 per cent in July, up 0.3 per cent in June, up 0.5 per cent in May, up 0.7 per cent in April. Reuters
Downtown Dubai: Dh2,170 - up 0.4 per cent in December, up 0.6 per cent in November, up 2.5 per cent in October, down 0.3 per cent in September, up 1.5 per cent in August, up 1 per cent in July, up 0.3 per cent in June, up 0.5 per cent in May, up 0.7 per cent in April. Reuters
DIFC: Dh1,601 per square foot — down 2.3 per cent in December, down 4.7 per cent in November, up 2.1 per cent in October, down 3.0 per cent in September, up 3.1 per cent in August, up 0.3 per cent in July, down 0.5 per cent in June, up 2.5 per cent in May, up 1.2 per cent in April. Jeff Topping / The National
DIFC: Dh1,601 per square foot — down 2.3 per cent in December, down 4.7 per cent in November, up 2.1 per cent in October, down 3.0 per cent in September, up 3.1 per cent in August, up 0.3 per cent in July, down 0.5 per cent in June, up 2.5 per cent in May, up 1.2 per cent in April. Jeff Topping / The National
Mohammed bin Rashid City: Dh1,702 per square foot — up 1.6 per cent in December, up 4.7 per cent in November, no change in October, up 2.2 per cent in September, up 1.0 per cent in August, up 1.3 per cent in July, up 1.9 per cent in June, up 2.3 per cent in May, down 0.2 per cent in April. Satish Kumar / The National
Mohammed bin Rashid City: Dh1,702 per square foot — up 1.6 per cent in December, up 4.7 per cent in November, no change in October, up 2.2 per cent in September, up 1.0 per cent in August, up 1.3 per cent in July, up 1.9 per cent in June, up 2.3 per cent in May, down 0.2 per cent in April. Satish Kumar / The National
Dubai Hills: Dh1,722 per square foot — up 0.9 per cent in December, up 3.2 per cent in November, up 2.1 per cent in October, up 4.0 per cent in September, up 1.4 per cent in August, up 1.7 per cent in July, up 1.6 per cent, up 2.7 per cent in May, up 0.3 per cent in April. Photo: Emaar Malls Management
Dubai Hills: Dh1,722 per square foot — up 0.9 per cent in December, up 3.2 per cent in November, up 2.1 per cent in October, up 4.0 per cent in September, up 1.4 per cent in August, up 1.7 per cent in July, up 1.6 per cent, up 2.7 per cent in May, up 0.3 per cent in April. Photo: Emaar Malls Management
Business Bay: Dh1,579 per square foot — down 1.1 per cent in December, up 3.4 per cent in November, up 0.9 per cent in October, up 1.5 per cent in September, up 2.6 per cent in August, down 1.4 per cent in July, down 2.2 per cent in June, up 1.3 per cent in May, up 1.7 per cent in April. Sarah Dea / The National
Business Bay: Dh1,579 per square foot — down 1.1 per cent in December, up 3.4 per cent in November, up 0.9 per cent in October, up 1.5 per cent in September, up 2.6 per cent in August, down 1.4 per cent in July, down 2.2 per cent in June, up 1.3 per cent in May, up 1.7 per cent in April. Sarah Dea / The National
Jumeirah Beach Residence: Dh1,483 per square foot — up 3.7 per cent in December, down 0.1 per cent in November, up 0.5 per cent in October, up 1.4 per cent in September, up 0.4 per cent in August, down 0.8 per cent in July, down 2.8 per cent in June, down 1.0 per cent in May, down 2.2 per cent in April. Photo: LuxuryProperty.com
Jumeirah Beach Residence: Dh1,483 per square foot — up 3.7 per cent in December, down 0.1 per cent in November, up 0.5 per cent in October, up 1.4 per cent in September, up 0.4 per cent in August, down 0.8 per cent in July, down 2.8 per cent in June, down 1.0 per cent in May, down 2.2 per cent in April. Photo: LuxuryProperty.com
Dubai Marina: Dh1,421 per square foot — down 1.2 per cent in December, up 2.7 per cent in November, up 0.5 per cent in October, down 2.0 per cent in August, up 2.3 per cent in July, up 1.8 per cent in June, down 0.3 per cent in May, down 0.7 per cent in April. Victor Besa / The National
Dubai Marina: Dh1,421 per square foot — down 1.2 per cent in December, up 2.7 per cent in November, up 0.5 per cent in October, down 2.0 per cent in August, up 2.3 per cent in July, up 1.8 per cent in June, down 0.3 per cent in May, down 0.7 per cent in April. Victor Besa / The National
The Greens and The Views: Dh1,190 per square foot — down 0.2 per cent in December, up 2.7 per cent in November, up 1.9 per cent in October, flat in September, up 3.0 per cent in August, up 2.4 per cent in July, up 1.2 per cent in June, down 2.5 per cent in May, down 0.6 per cent in April. Sarah Dea / The National
The Greens and The Views: Dh1,190 per square foot — down 0.2 per cent in December, up 2.7 per cent in November, up 1.9 per cent in October, flat in September, up 3.0 per cent in August, up 2.4 per cent in July, up 1.2 per cent in June, down 2.5 per cent in May, down 0.6 per cent in April. Sarah Dea / The National
Jumeirah Lakes Towers: Dh1,023 per square foot — down 0.2 per cent in December, up 0.5 per cent in November, up 0.1 per cent in October, up 0.6 per cent in September, down 0.9 per cent in August, up 1.7 per cent, down 0.9 per cent in June, up 3.1 per cent in May, down 1.1 per cent in April. Antonie Robertson / The National
Jumeirah Lakes Towers: Dh1,023 per square foot — down 0.2 per cent in December, up 0.5 per cent in November, up 0.1 per cent in October, up 0.6 per cent in September, down 0.9 per cent in August, up 1.7 per cent, down 0.9 per cent in June, up 3.1 per cent in May, down 1.1 per cent in April. Antonie Robertson / The National
Damac Hills: Dh1,052 per square foot — down 0.1 per cent in December, up 3.3 per cent in November, down 3.5 per cent in October, up 1.3 per cent in September, up 1.9 per cent in August, up 2.1 per cent, up 0.4 per cent in June, up 2.1 per cent in May, down 0.7 per cent in April. Pawan Singh / The National
Damac Hills: Dh1,052 per square foot — down 0.1 per cent in December, up 3.3 per cent in November, down 3.5 per cent in October, up 1.3 per cent in September, up 1.9 per cent in August, up 2.1 per cent, up 0.4 per cent in June, up 2.1 per cent in May, down 0.7 per cent in April. Pawan Singh / The National
Jumeirah Village Circle: Dh950 per square foot — up 2.4 per cent in December, up 1.0 per cent in November, up 0.4 per cent in October, up 0.7 per cent in September, down 0.8 per cent in August, up 0.5 per cent in July, up 1.2 per cent in June, up 0.4 per cent in May, up 0.1 per cent in April. Razan Alzayani / The National
Jumeirah Village Circle: Dh950 per square foot — up 2.4 per cent in December, up 1.0 per cent in November, up 0.4 per cent in October, up 0.7 per cent in September, down 0.8 per cent in August, up 0.5 per cent in July, up 1.2 per cent in June, up 0.4 per cent in May, up 0.1 per cent in April. Razan Alzayani / The National
Town Square: Dh856 per square foot — up 0.6 per cent in December, down 0.8 per cent in November, up 0.9 per cent in October, up 0.5 per cent in September, down 0.9 per cent in August, up 0.9 per cent in July, down 1.9 per cent in June, up 0.4 per cent in May, down 1.9 per cent in April.
Town Square: Dh856 per square foot — up 0.6 per cent in December, down 0.8 per cent in November, up 0.9 per cent in October, up 0.5 per cent in September, down 0.9 per cent in August, up 0.9 per cent in July, down 1.9 per cent in June, up 0.4 per cent in May, down 1.9 per cent in April.
Motor City: Dh694 per square foot — up 1.1 per cent in December, up 2.8 per cent in November, up 1.5 per cent in October, up 0.8 per cent in September, up 1.9 per cent in August, down 1.8 per cent in July, down 2.5 per cent in June, up 0.8 per cent in May, down 0.7 per cent in April.
Motor City: Dh694 per square foot — up 1.1 per cent in December, up 2.8 per cent in November, up 1.5 per cent in October, up 0.8 per cent in September, up 1.9 per cent in August, down 1.8 per cent in July, down 2.5 per cent in June, up 0.8 per cent in May, down 0.7 per cent in April.
Dubai Silicon Oasis: Dh614 per square foot — down 0.8 per cent in December, down 0.4 per cent in November, up 1.6 per cent in October, up 0.2 per cent in September, down 0.3 per cent in August, up 1.8 per cent in July, up 3.6 per cent in June, down 2.9 per cent in May, down 0.7 per cent in April. Chris Whiteoak / The National
Dubai Silicon Oasis: Dh614 per square foot — down 0.8 per cent in December, down 0.4 per cent in November, up 1.6 per cent in October, up 0.2 per cent in September, down 0.3 per cent in August, up 1.8 per cent in July, up 3.6 per cent in June, down 2.9 per cent in May, down 0.7 per cent in April. Chris Whiteoak / The National
Dubai Sports City: Dh638 per square foot — up 0.3 per cent in December, down 0.5 per cent in November, up 3.3 per cent in October, up 2.6 per cent per cent in September, down 1.0 per cent in August, up 0.5 per cent, up 3.0 per cent in June, down 3.9 per cent in May, down 1.1 per cent in April. Reem Mohammed / The National
Dubai Sports City: Dh638 per square foot — up 0.3 per cent in December, down 0.5 per cent in November, up 3.3 per cent in October, up 2.6 per cent per cent in September, down 1.0 per cent in August, up 0.5 per cent, up 3.0 per cent in June, down 3.9 per cent in May, down 1.1 per cent in April. Reem Mohammed / The National
Discovery Gardens: Dh545 per square foot — up 2.7 per cent in December, down 2.3 per cent in November, up 3.5 per cent in October, up 1.7 per cent in September, up 0.9 per cent in August, down 0.8 per cent in July, down 1.8 per cent in June, up 0.3 per cent in May, down 2.2 per cent in April. Pawan Singh / The National
Discovery Gardens: Dh545 per square foot — up 2.7 per cent in December, down 2.3 per cent in November, up 3.5 per cent in October, up 1.7 per cent in September, up 0.9 per cent in August, down 0.8 per cent in July, down 1.8 per cent in June, up 0.3 per cent in May, down 2.2 per cent in April. Pawan Singh / The National
International City: Dh480 per square foot — up 1.2 per cent in December, down 0.2 per cent in November, up 3.3 per cent in October, up 1.8 per cent in September, up 0.4 per cent in August, up 2 per cent in July, up 0.9 per cent in June, down 0.5 per cent in May, down 0.6 per cent in April. Antonie Robertson / The National
International City: Dh480 per square foot — up 1.2 per cent in December, down 0.2 per cent in November, up 3.3 per cent in October, up 1.8 per cent in September, up 0.4 per cent in August, up 2 per cent in July, up 0.9 per cent in June, down 0.5 per cent in May, down 0.6 per cent in April. Antonie Robertson / The National

__________________________

Prices on Palm Jumeirah rose throughout 2022 along with other prime areas of the city amid a shortage of luxury villas.

Prices rose across other market segments as well on the back of the UAE's broader economic recovery following the pandemic-induced slowdown.

As well as records for the total number of transactions, records were also set for the most expensive property sale and highest rental deal during 2022.

However, average prices have not yet surpassed the record highs of 2014, with the average apartment price being 21.5 per cent below the 2014 level, and villa prices 4.2 per cent lower than the peak.

Rents have also experienced rapid increases across the city, as the economy benefitted from an influx of high-net-worth individuals as well as the introduction of new visa schemes that encourage residents to stay for longer or move from abroad.

"Residential rental growth also reached historic levels, with apartment and villa rents increasing by 27.1 per cent and 24.9 per cent, in 2022, respectively," said Taimur Khan, head of research for the Mena region at CBRE in Dubai.

"Due to the lack of available villa stock for rent and growing demand levels for such stock, villa rents are now 45.3 per cent higher than in 2019, with average villa rents standing at Dh282,150, once again the highest level on record.

"Over the same period, average apartment rents are 17.2 per cent higher and stand at Dh95,168."

While the rapid growth may be welcome news for landlords who had seen almost six years of softening rents until 2022, it will impact demand, he said.

The rise in rents in Dubai has led to an increase in rental disputes and eviction notices as landlords seek to make the most of the market conditions.

"In the year ahead, we expect that both the average rates of price and rental growth will remain positive. However, we expect the rates to moderate and in certain more nascent communities with strong supply pipelines, to decline," Mr Khan said.

The top areas to buy apartments in 2022 were Business Bay, Dubai Marina, JVC, Downtown Dubai, Dubai Creek Harbour and Palm Jumeirah, according to Zoom Property Insights.

Business Bay led the way with 10,300 transactions valued at a total of Dh17.6 billion, followed by Dubai Marina with 7,430 transactions.

“The contribution of each sector of the market has played a vital role in the booming success of Dubai real estate," said Ata Shobeiry, chief executive of Zoom Property.

"With various new developments joining the bandwagon, 2023 will see the property market reaching new heights of success.”

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David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

APPLE IPAD MINI (A17 PRO)

Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits

Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps

Biometrics: Touch ID, Face ID

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In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

Abandon
Sangeeta Bandyopadhyay
Translated by Arunava Sinha
Tilted Axis Press 

Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

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Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

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Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
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Traits of Chinese zodiac animals

Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
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Women's: 
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Key findings
  • Over a period of seven years, a team of scientists analysed dietary data from 50,000 North American adults.
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  • People who ate breakfast experienced a relative decrease in their BMI compared with “breakfast-skippers”. 
  • Those who turned the eating day on its head to make breakfast the biggest meal of the day, did even better. 
  • But scrapping dinner altogether gave the best results. The study found that the BMI of subjects who had a long overnight fast (of 18 hours or more) decreased when compared even with those who had a medium overnight fast, of between 12 and 17 hours.
Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Updated: January 10, 2023, 1:12 PM
DubaiPropertyPalm Jumeirah