Latest Real Estate News in UAE

Dubai becoming increasingly popular with British property investors

Apr 29 ,2016, city : Dubai

Dubai is proving to be increasingly popular among British property investors with figures from the land department showing they put £1.9 million into the emirate’s real estate market in 2015.

This made them the second largest group of foreign investors behind Indians with UK investment almost doubling in three y... more

Dubai property prices slump by most in five years in Q1

Apr 28 ,2016, city : Dubai

Residential property prices and rents in Dubai are set for a further decline throughout 2016 as the local economy continues to adjust to softening global conditions, according to real estate consultancy Cluttons.

Its Dubai Spring 2016 Residential Property Market Outlook showed that after falling by an average of 3.1 percent... more

Mauritius tempts UAE property buyers with an exotic life

Apr 28 ,2016, city : Dubai

The African island of Mauritius has become the latest exotic destination to attempt to attract investors from the UAE.

Tucked away behind the main stands at the recent Cityscape Abu Dhabi, Royal Park, a planned new resort covering 100 hectares close to the Mauritian capital of Port Louis was pitching its development to UAE ... more

Dubai Tourism eases holiday home regulations

Apr 28 ,2016, city : Dubai

Home owners in Dubai will be able to rent their properties directly without having to go through an approved operator after the emirate’s tourism agency updated regulations.

Home owners in Dubai can now apply for a holiday home licence if they meet all criteria, Dubai’s Department of ... more

Cheap oil to hurt UAE realty further; house prices to drop 10% in 2016: S&P

Apr 27 ,2016, city : Dubai

Dubai: The UAE real estate sector will continue to face some headwinds this year, with property prices forecast to drop by 10 per cent, on average.

In its latest note released on Wednesday, Standard & Poor’s Ratings Services said the country’s property market is still reeling from the impact of low crude oil... more

Dubai set for another fall in property prices, says S&P

Apr 27 ,2016, city : Dubai

Average house prices in Dubai are likely to fall by another 10 per cent this year with no sign of improvement on the immediate horizon, according to the ratings agency Standard & Poor’s.

The agency, which rates bonds issued by three UAE developers – Emaar Properties, Damac Properties and Aldar Properties &nd... more

Dubai tenant in Dh400k villa wants out after no hot water for 10 months

Apr 27 ,2016, city : Dubai

My family and I have completed two years in our villa and we have not had hot water for 10 months. We have had to drive and take showers at gyms and hotels or have cold showers. My daughter and I have had to get our hair washed at salons. We have had two major water leaks in those two years from the water tanks, which are the landlord&rsq... more

Aldar gives update on Abu Dhabi residential projects

Apr 27 ,2016, city : Abu Dhabi

Aldar Properties said today that its projects in Abu Dhabi are progressing on schedule.

“Al Hadeel, Ansam, Al Merief, Nareel Island residential projects are all on track to be completed according to their respective schedules with steady progress being made on foundational, structural and MEP work," it said in a ... more

Emaar brings ‘mini-Dubai’ to London’s Harrods

Apr 27 ,2016, city : Dubai

Emaar Properties has brought a taste of Dubai to one the world’s most famous department stores as it attempts to attract foreign investors amid the property slowdown in the emirate.

The Dubai developer, builder of the Burj Khalifa, is launching and exhibiting its latest project at Harrods in London until mid-August. more

Emaar launches ‘Rove Home’ value housing brand at ATM

Apr 26 ,2016, city : Dubai

Throwing its ring in the affordable housing sector in Dubai, Emaar Hospitality launched ‘Rove Home’ branded residences that will be part of its Rove Satwa project that will also comprise a 480-room hotel.

Speaking at the ongoing Arabian Travel Market (ATM), Emaar Hospitality Group Corporate Director of Operation... more

Construction professionals welcome possible easing of Saudi visa restrictions

Apr 25 ,2016, city : Dubai

Participants in the construction industry have given a cautious welcome to proposals for easing visa restrictions in the industry but added that more details are needed.

Speaking to The National ahead of Monday’s announcement of the Saudi transformation plan, the global chief finance officer of engineering consultancy... more

Fire-hit The Address Downtown Dubai hotel will not reopen in 2016

Apr 25 ,2016, city : Dubai

The Address Downtown Dubai hotel, which was badly damaged by a fire on New Year’s Eve, will not reopen this year, an Emaar Hospitality Group executive said.

Chris Newman, director of operations, told Reuters that there had been no negative impact on Emaar’s balance sheet from the hotel’s temporary closure.... more

Naresco wins $50m deal to build Danube’s Glitz Residence 3

Apr 24 ,2016, city : Dubai

Real estate developer Danube Properties has awarded Naresco Contracting a $50 million contract to build a residential community in Dubai Studio City.

The $95 million Glitz Residence 3, which features 352 housing units, is expected to be completed by the end of 2017, Danube said in a press statement.

Naresco i... more

Dubai’s off-plan launches in recovery mode

Apr 23 ,2016, city : Dubai

Dubai: A quite sizeable 2,513 off-plan units were released in Dubai during the first three months, indicating that developers are shrugging off the inertia brought on by a market yet to revive itself in full. The Q1-16 closely tracks what the market saw during the same period last year.

But this is where the similarities ... more

Gulf's rich elite seen shifting investments to commercial property

Apr 23 ,2016, city : Dubai

Commercial property has become a more attractive investment for ultra-high net worth individuals (UHNWIs) in the Middle East as volatility in residential markets affects demand, a new survey has revealed.

Findings from Knight Frank's 2016 Attitudes Survey conducted in conjunction with Wealth-X, shows that commercial rea... more

Dubai property groups showcase projects to Chinese buyers

Apr 22 ,2016, city : Dubai

BEIJING // Jumeirah Golf Estates opened its doors to some of the world’s biggest property buyers at Beijing’s Luxury Property Showcase on Friday as 120 companies from 35 countries chased Chinese customers.

The Chinese have bought everything from luxury homes and commercial units in countries including the United... more

Emaar to open new Address hotel in Downtown Dubai this year

Apr 21 ,2016, city : Dubai

Emaar Hospitality Group is set to open its first new Address ­hotel in six years in the final quarter of 2016.

The Address Boulevard, which will be housed on the lower floors of a new, 72-storey Downtown Dubai tower linked to The Dubai Mall, is nearing completion.

New general manager Pascal Dupuis said it... more

Dh30m Dubai penthouse with environment at its heart

Apr 21 ,2016, city : Dubai

If you want to live the high life in the city, then this penthouse is for you.

This Norman Foster-designed building looks like no other in the heart of Dubai International Financial Centre (DIFC), surrounded by Emaar towers; this duplex penthouse is in Index Tower – an 80-storey tower built with the environment at its... more

Dubai tenant breaches notice period to move out – but no financial penalty

Apr 20 ,2016, city : Dubai

I have just given one month’s notice that I will be vacating the property at the end of the lease period. However, the property management company pointed out that the tenancy agreement states the following: “Not less than two months prior to the date of expiry of the term, the tenant shall inform the landlord in writing wheth... more

Know why all rent contracts in Dubai must be cancelled

Apr 18 ,2016, city : Dubai

It is mandatory for all tenants in Dubai to register their rent contracts with Dubai Land Department’s Ejari system.

The registration costs you Dh195 with the cost being paid by the tenant in most cases.

But, it is also mandatory to cancel Ejari registration when a tenant vacates a property or does not re... more

Dubai developer lines up nine hotel apartment projects

Apr 18 ,2016, city : Dubai

Dubai: Azizi Developments formally launched two serviced apartment properties in Al Furjan, within the Dubailand master development, to become the latest UAE developer to enter the hospitality sector.

The developer plans to launch a further seven such projects in the same area over the coming months, with the first two sche... more

New construction spending in Qatar plunges

Apr 18 ,2016, city : Dubai

The value of new construction contracts awarded in Qatar during the first three months of this year fell to their lowest levels in more than five years as governments in the region cut back on infrastructure spending because of lower oil prices.

According to figures from Meed, contracts awarded during the first quarter fell... more

Azizi launches its first serviced apartment project in Dubai

Apr 18 ,2016, city : Dubai

Azizi Developments is opening its first serviced apartment project in Dubai.

The Dh460 million Candace Aster project is located in Al Furjan district of Dubai, close to Jebel Ali.

The residences are expected to be ready by the third quarter of next year. They will be operated by Candace Hotel and Resorts, whi... more

Dubai's costliest penthouse? Dh209m unit on upcoming Water Canal

Apr 18 ,2016, city : Dubai

Al Habtoor City, coming up next to Dubai Water Canal, will have one of the costliest penthouses in the UAE.

The prices range from Dh66,237,888 to Dh209,844,888 depending on the configuration, according to Tamleek Real Estate Co, the exclusive sales agent for The Residence Collection, Al Habtoor City.

In fact, t... more

Tour new Dubai icon - The Tower

Apr 17 ,2016, city : Dubai

Emaar Properties, Dubai’s largest developer, has released the first video of its iconic The Tower at Dubai Creek Harbour.

Costing $1 billion (Dh3.67 billion), The Tower in Dubai Creek Harbour, a 6 square kilometer master development, will be a notch higher than 828-metre Burj Khalifa, the world’s tallest tower.<... more

Not registered your Dubai property? Dh10,000, 8% registration fee fine

Apr 17 ,2016, city : Dubai

The Dubai Land Department has finally cracked the whip on investors who have not adhered to its repeated warnings of completing unit registration, Emirates 24|7 can reveal.

A notice, which is with this website, informs that investors who have not registered their transactions with the department will face fines of Dh10,00... more

Dubai Financial Market to leave the only home it has ever known

Apr 16 ,2016, city : Dubai

The Dubai Financial Market, the emirate’s main stock exchange, is to construct a new high-tech headquarters in Business Bay, ending its 16-year presence in the historic World Trade Centre.

DFM is to seek tenders for the multimillion dollar building on land that has been given to it by the government-owned developer Du... more

Dubai’s Emaar to open theme park in May

Apr 16 ,2016, city : Dubai

Three theme parks will open in Dubai in October 2016, but a Turkish newspaper has reported that Dubai-based developer Emaar Properties is likely to tie up with Rixos Hotels on a TL 1.2 billion (Dh1.5 billion) theme park project in Belek, Antalya.

The Land of Legends in Belek, Antalya, opens in May, ‘Daily Sabah’... more

Rents in Abu Dhabi jump up to 11%, but when are they going to fall

Apr 15 ,2016, city : Abu Dhabi

There is no respite for tenants in Abu Dhabi with a dubizzle, a UAE-based classifieds website, report for first quarter 2016 revealing rental increases of between 5 and 11 per cent in certain communities.

Rents for one- and two-bedroom apartments in Al Reef area rose by 9 per cent each, while three-bedroom apartments regi... more

Tightening budgets fuel demand for affordable Abu Dhabi homes

Apr 15 ,2016, city : Abu Dhabi

A decline in housing allowances being offered by companies in Abu Dhabi is creating further strain on the higher end of the residential market, according to Cluttons.

The real estate consultancy said in a new report that it underscores the need to address the capital’s lack of affordable housing options.

... more

New 3% municipality fee on Abu Dhabi expat rentals could give government Dh612m boost

Apr 14 ,2016, city : Abu Dhabi

The new municipality charge being levied against rental contracts in Abu Dhabi is likely to boost government revenue by about Dh612 million a year, according to National Bank of Abu Dhabi.

The fee, which will be added as a monthly charge to utility bills, has been introduced as another method for generating revenue to help ... more

The Dh143m English pile with two homes built on a world-famous golf course

Apr 14 ,2016, city : Dubai

Alongside the local developers showing off projects at this year’s Cityscape Abu Dhabi, brokers were also offering a myriad of international opportunities - from studio apartments in Vietnam and Cambodia through to luxury holiday homes in the United States.

One of the most eye-catching, though, was a £27.5m (Dh1... more

Dubai’s Emaar Properties to reorganise India unit through demerger

Apr 13 ,2016, city : Dubai

Mumbai // Emaar Properties is ending its joint venture with India’s MGF, through which it built the athletes’ village for the Commonwealth Games in New Delhi, a project that was plagued by controversy.

Emaar said that it agreed to the demerger of Emaar MGF “in order to lend grea... more

Dubai tenant absconds and cheques bounce, but family refuse to leave property

Apr 13 ,2016, city : Dubai

I am a landlord and have an apartment which is rented out. The tenant left the country and the cheques provided bounced. However, the tenant’s family are still occupying the apartment and have refused to pay (basically giving false promises and not retuning calls). What course of action should I take? Please note that I have already... more

Abu Dhabi property consultants to be qualified by end of 2016 as ‘most brokers are not brokers’

Apr 13 ,2016, city : Abu Dhabi

All of Abu Dhabi’s real estate consultants should be properly trained and qualified by the end of this year following the introduction of the new real estate law.

Abdullah Al Bloushi, the executive director of land and property management at the Department of Municipal Affairs, said that training courses for brokers &... more

Emirati buyers targeted in Al Forsan rent-to-buy scheme in Abu Dhabi

Apr 13 ,2016, city : Abu Dhabi

Al Forsan, the Abu Dhabi-based sports resort and housing complex, has come up with a “rent-to-buy" offer targeting Emiratis.

The government-owned developer said at Cityscape Abu Dhabi yesterday that it was offering rent-to-buy as an option for 50 of the 385 villas and town houses it has completed in Khalifa City ... more

Saadiyat Lagoons: New Abu Dhabi district set to home 29,000 residents

Apr 13 ,2016, city : Abu Dhabi

The Saadiyat Lagoons, the largest district on Abu Dhabi’s luxury Saadiyat Island, has been launched by The Tourism Development & Investment Company (TDIC).

“The Lagoons District is a premium residential community which is expected to become home to 29,000 residents across more than 4,000 residential units,&q... more

UAE property boom: Abu Dhabi's top developers unveil mega projects

Apr 12 ,2016, city : Dubai

Unfazed by global property consultants reporting a slowdown in residential property market, the biggest of the developers in Abu Dhabi unveiled new projects at Cityscape Abu Dhabi on Tuesday.

A day after Abu Dhabi’s biggest developer, Aldar Properties, announced plans for a Dh6-billion villa development on Yas Islan... more

Backloading off-plan property payments 'worrying', says RERA CEO

Apr 12 ,2016, city : Dubai

An increase in the number of Dubai developers offering post-completion payment schemes to off-plan investors is a “worrying” trend, the head of the emirate’s Real Estate Regulatory Agency (Rera) has warned.

Rera CEO Marwan Bin Galita claimed developers are increasingly permitting up to 60 percent of paymen... more

Real estate project completions at 10-year low in Abu Dhabi

Apr 12 ,2016, city : Abu Dhabi

Abu Dhabi’s real estate markets have generally been stable during the first quarter of 2016 despite of the continued impact of lower oil prices and a reduction in domestic government spending, a new report said on Tuesday.

While demand has reduced, supply completions have also reduced compared to previous years, leadi... more

Cityscape Abu Dhabi opens

Apr 12 ,2016, city : Abu Dhabi

Abu Dhabi: Masdar, Abu Dhabi’s renewable energy company, announced the expansion plans for phase 1, 2, and 5 of Masdar City as Cityscape Abu Dhabi kicked off on Tuesday.

Five per cent of the project has already been completed, with around 35 per cent of the planned built-up area for Masdar City set for completion over... more

Eagle Hills in first UAE project with Address Hotel-branded resort in Fujairah

Apr 12 ,2016, city : Fujairah

The Abu Dhabi-based developer Eagle Hills is to undertake its first project in the UAE, an Address Hotel-branded resort and serviced apartments in Fujairah.

The company’s development manager, Mohammed Al Ridha, said at Cityscape Abu Dhabi on Tuesday that the resort will be built at Sharm in Fujairah, which is about 3 ... more

Dubai property prices fall 3% in Q1, forecast to remain flat in Q2

Apr 11 ,2016, city : Dubai

Dubai apartment prices declined, on average, by 3 percent in the first quarter of 2016, continuing the falls seen throughout the last year, according to property consultant Cavendish Maxwell.

Its Dubai Residential Market Report for Q1 2016 said apartment prices slumped by an average of 7 percent over the past year, with the... more

Apr 11 ,2016, city : Dubai

Construction work has started on new residential apartments at Masdar City in Abu Dhabi with developer Reportage Real Estate marking the official ground-breaking of its 170-unit Leonardo Residences project.

The one-, two- and three-bedroom apartments will go up within the existing footprint of Masdar City, and nearly all (9... more

Q1 residential sales flat in Abu Dhabi as rental demand rises

Apr 11 ,2016, city : Abu Dhabi

Abu Dhabi’s residential sales market remained “muted” in the first three months of 2016 with prices remaining largely stable, according to CBRE’s quarterly market update.

However, while there was “weak” appetite for property purchases in the first quarter of this year, demand for rentals ... more

Aldar launches Dh6 billion villa project in Yas Island

Apr 11 ,2016, city : Dubai

Abu Dhabi’s Aldar Properties said on Monday it will add new villas to its Yas Island development with a project valued at Dh6 billion.

Yas Acres will consist of 1,315 villas, with the company saying residents will have access to a golf course and club house, parks, schools and a waterfront.

The project ... more

Omran Properties to change shape of the Sharjah skyline

Apr 10 ,2016, city : Sharjah

LONDON // A new UAE property venture plans to “transform Sharjah’s skyline" with a broad range of development projects, the first of which are set to be announced in the coming weeks.

The formation of Omran Properties – a joint venture between the Dubai-listed Emaar, the Abu Dhabi developer Eagle Hill... more

Emaar to build tower higher than Burj Khalifa and new ‘mega-retail district’ for Expo 2020

Apr 10 ,2016, city : Dubai

The architect behind a new US$1 billion Dubai tower that will stand higher than Burj Khalifa says it will represent a nation like The Eiffel Tower.

The Paris landmark was built for the 1889 Paris Expo.

Now Dubai’s Emaar Properties is aiming to emulate that architectural impact as preparations get under ... more

Sharjah a land of opportunity for the UK

Apr 10 ,2016, city : Sharjah

LONDON // Lee Jennings has certainly heard of Sharjah — but very few of his UK clients can say the same.

Mr Jennings spent 15 years working at the British Embassy in Dubai, most recently for the Welsh government helping businesses build trade in the UAE.

He left last year, returning to the United Kingdo... more

UAE developers eagerly anticipate formation of Saudi housing company

Apr 9 ,2016, city : Dubai

The revelation by Saudi Arabia that it will launch a state-backed development company in a bid to ease its housing shortage has sparked the interest of UAE developers.

Saudi Arabia’s housing minister, Majed Al Hogail, told Bloomberg it would create a development company that will give businesses plots of land, and pro... more

Dubai firm launches $88m Culture Village project

Apr 8 ,2016, city : Dubai

Dubai-based Radiant Star on Monday unveiled its AED325 million ($88.4 million) Riah Towers project, a 17-storied freehold development in Dubai Culture Village.

The project will feature 156 residential units and four commercial spaces near the central business district of Dubai, the company said in a statement.

... more

Buying property in Dubai: Five key things to look at

Apr 7 ,2016, city : Dubai

The Dubai real estate market is thriving, with the Dubai Land Department chief telling Emirates 24/7 that the emirate registering Dh68 billion worth of deals in the first 53 days of 2016.

Another report by a Deloitte and Meed Project’s has valued projects under planning in the UAE at $337.2 billion (Dh... more

Dubai Properties to launch phase two of Arabella townhouses in Dubailand

Apr 7 ,2016, city : Dubai

Dubai Properties is to launch the second phase tomorrow of its Arabella community of town houses in the Mudon development bordering Emirates Road.

Masood Al Awar, the chief commercial officer at Dubai Properties, said that the developer will release 200 two, three, four and five-bedroom town houses tomorrow, as well as pres... more

My Jumeirah Village Circle tenant is proving almost impossible to evict

Apr 6 ,2016, city : Dubai

We have an apartment in Jumeirah Village Circle that has been leased for the last four years.

Unfortunately, the first time we served the eviction notice in June 2014, as we wanted to sell the apartment, the tenant received it but acknowledged the same only verbally. Then, in June 2015 - when we expected the tenant to evacu... more

Dubai’s Expo 2020 infrastructure spending to boost UAE construction sector

Apr 5 ,2016, city : Dubai

The UAE construction market remains on course to grow at a faster pace than the wider economy, fuelled by infrastructure spending in Dubai, according to one analyst.

BMI Research is forecasting growth of 6.6 per cent for the UAE construction market this year, considerably ahead of the IMF’s forecast of 2.6 per cent gr... more

Brexit a hot topic for British expats in the UAE

Apr 5 ,2016, city : Dubai

When the UK prime minister David Cameron announced in February that the country is to stage a referendum on Britain’s membership of the European Union, you could have been forgiven for thinking the cut and thrust of Westminster politics would have little to do with the sunny Emirates.

But with 100,000 Britons currentl... more

Failures make for better leaders, says Emaar Properties chairman Mohamed Alabbar

Apr 5 ,2016, city : Dubai

The man whose company built Burj Khalifa knows a thing or two about scaling great heights in the business world.

Mohamed Alabbar, the chairman of Emaar Properties, shared his story when he gave a talk in Abu Dhabi in February at the invitation of the Salama Bint Hamdan Al Nahyan Forum for New Ideas.

Mr Alabba... more

Save on Rent: Dubai developer opts to sell units as project nears completion

Apr 5 ,2016, city : Dubai

A new Dubai-based developer has ditched the formula of selling off-plan to fund the project, rather is selling residential units as its project nears completion.

Radiant Star, a real estate development company, expects to complete its Dh325-million Riah Towers in Culture Village, a master development off Dubai Creek, by S... more

Developer-investors snap up Dubai’s delayed projects

Apr 4 ,2016, city : Dubai

Dubai: Investors seeking better-than-average yields are, once again, starting to line up behind delayed or distressed projects in Dubai.

“It happened in 2010-11 when there were a lot of such projects,” said Balaji Parthasarathy, director at Radiant Star, a recently created investment arm that has to date raised ... more

Property prices rise fastest in these countries

Apr 4 ,2016, city : Dubai

Dubai: For people with limited incomes, the real estate market in Dubai can be out of reach.  After all, it is where a flat or a villa in a posh neighbourhood could cost more than a low-wage earner’s lifetime of savings

However, for those who are flush with cash, the property market may not be one of the costli... more

Middle East companies not setting aside enough money for end of service benefits, study asserts

Apr 3 ,2016, city : Dubai

A majority of Middle East employers fail to set aside end of service benefit payments but there is a growing demand to make it mandatory for companies to do so, according to new research from Zurich Global Life.

The report, published on Monday, warns that the average end of service benefit (EOSB) payment made to expatriate ... more

For Damac, an US presence is not too far away

Apr 2 ,2016, city : Dubai

Dubai: Damac Properties might consider opportunities in “gateway cities” such as Los Angeles or New York in the US as its next step into international markets. It was in the middle of last year that the Dubai-headquartered developer announced a project in London, its first outside the Middle East since 2008-09.

... more

SME profile: Summertown Interiors managing director an eco-friendly entrepreneur

Apr 1 ,2016, city : Abu Dhabi

Dutch national Marcos Bish describes himself as an entrepreneur through and through.

Now the managing director of Summertown Interiors in Dubai, which creates eco-friendly office interiors, Mr Bish is one of those people you frequently meet in Dubai who arrived in the UAE 26 years ago with little more than a degree in inter... more