The UAE’s affordable luxury real estate sector is experiencing significant growth, with a 34% surge in transaction values in 2024 and forecasts indicating a 5-10% increase in property launches targeting this segment in 2025. Dubai’s luxury market saw a 26% year-on-year increase in transaction prices for apartments in sought-after areas, reflecting a maturing market with balanced supply and demand. Projections suggest the market will maintain a 2.28% annual growth rate from 2025 to 2029, reaching an estimated value of AED 2.79 trillion by the end of the decade, driven by strong economic policies and urban development strategies.
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Turkey police detain Istanbul mayor, Erdogan’s main rival
Turkish police raided the home of Istanbul Mayor Ekrem Imamoglu, detaining him over a corruption probe, which the main opposition CHP party denounced as a "coup". The move came days before he was to be named the party's candidate for the 2028 presidential election. Imamoglu's detention, related to bribery and extortion charges, was also connected to a separate probe for allegedly aiding the banned Kurdistan Workers' Party (PKK), leading to social media restrictions and a...
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