Latest Real Estate News in UAE

Emaar Properties Names Amit Jain As Group COO

Dec 31 ,2014, city : Dubai

Dubai’s largest developer Emaar Properties has named Amit Jain as group chief operating officer and chief executive of Emaar’s Dubai operations, it said in a statement on Wednesday.

Jain was previously executive director of finance and group chief financial officer at Emaar, according to the company’s webs... more

View of Burj Khalifa NYE fireworks, yours for $2,000 on Airbnb

Dec 31 ,2014, city : Dubai

Dubai property owners with a view were in demand on New Year’s Eve, according to listings on Airbnb, the home-sharing platform.

So much so that one owner was quoting US$2,057 for a one-bedroom apartment on Wednesday afternoon for a view of the planned fireworks at Burj Khalifa.

The listing on Airbnb, wh... more

Where to buy property in Dubai as prices start to fall

Dec 31 ,2014, city : Dubai

I see the sales prices on apartments in Dubai are falling now. Are they going to continue to fall? We are thinking of purchasing something as a starter home. I have been looking around several different neighbourhoods including Motor City, JVC, Sports City and even had a look at Remraam. Remraam seems very affordable, though the apartment... more

Dubai's Emaar announces major shake-up to drive growth

Dec 31 ,2014, city : Dubai

Dubai-based developer Emaar Properties on Wednesday announced a major organisational shake-up aimed at powering growth with a focus on project management, delivery and customer service.

A number of new senior appointments have been made across the company, with a priority to manage and deliver projects, Emaar said in a stat... more

Developers in northern emirates chase end-users

Dec 31 ,2014, city : Dubai

 Dubai: The fine tuning of the UAE’s real estate engine is largely dictated by what happens in Dubai and Abu Dhabi. But developers in the northern emirates are now making sure they have enough cogs in play, by way of viable projects that can appeal to end-user and investor alike.

Sharjah’s Dh2 billion Tilal... more

UAE realty market’s maturity will come to the fore

Dec 31 ,2014, city : Dubai

 While 2014 has been a good year for the UAE’s real estate, it didn’t quite witness the jet-fuelled surge of 2013.

The past year started much like how 2013 finished, provoking a warning about instability from the IMF. But the rate of growth settled into a steadier pace as the year progressed.

... more

Three 'bizarre' reasons by landlords to hike rents in Sharjah

Dec 30 ,2014, city : Sharjah

Residential rents in Sharjah remain fixed for first three years of the contract for a tenant, but landlords can seek market rate once the three-year period is over.

Despite the Sharjah government regulation, landlords do often resort to increasing rents every year with some giving ‘bizarre’ reasons.

more

Watch out for these Dubai mega projects launched in 2014

Dec 30 ,2014, city : Dubai

Dubai developers left no stone unturned as they announced multi-billion dirham master developments and real estate projects that will change the landscape of the emirate in the coming few years.

The biggest of the all was Dubai Holding’s announcement of Dh25-billion Mall of the World, which is set to break gro... more

Live in Dubai's Burj Khalifa for just Dh995 a day

Dec 29 ,2014, city : Dubai

Here is your chance to live in Dubai’s Burj Khalifa, the tallest tower in the world, as an apartment owner has put up his units for rent on a local classifieds website, seeking mere Dh995 a day.

According to the listing (dated: December 24), the landlord claims renting the apartments, 1,250 square feet in size, could ... more

Dubai Investments said to eye $2.7bn property projects

Dec 28 ,2014, city : Dubai

Dubai Investments is reportedly planning to invest AED10 billion ($2.7 billion) in real estate projects over the next five years.

CEO Khalid Bin Kalban told Bloomberg that the company's Dubai Investment Real Estate Company unit will start tendering in the next two months for one major project.

Mirdiff Hil... more

Dubai's Danube Properties launches $81m 'Glitz' tower

Dec 28 ,2014, city : Dubai

Dubai's Danube Properties has officially launched its AED300 million ($81.6 million) affordable luxury apartment project ‘Glitz by Danube.’

This is the second real estate project announced by the newly-launched property arm of Danube Group within six months. Danube Properties’ maiden project ‘Dre... more

Start planning for the home of your dreams

Dec 26 ,2014, city : Dubai

The children have sugarplums and Santa for their imagination this time of year, so why not do a little dreaming of your own?

Today we’re going to fantasise about where we would like to live, or even just have a base.

What better way to start off than by finding out where people “just like us&rdquo... more

UAE builds safer environment

Dec 25 ,2014, city : Dubai

Can you design a building that prevents crime?

In light of the recent stabbing on Abu Dhabi’s Reem Island the question is one which is a lot higher in the minds of UAE residents than perhaps it would have been a few weeks ago.

Architects around the world have spent a great deal of time looking at ways o... more

Jumeirah Golf Estates villa is a fairway deal

Dec 25 ,2014, city : Dubai

Jumeirah Golf Estates is fast becoming the destination it always wanted to be. The financial crisis had a rather humbling effect on its huge plans for four championship golf courses, designed by Greg Norman, a bespoke Range rover for each villa.

However, last month it hosted the world’s top golfers in the last event o... more

Year in review 2014: Reporters’ anecdotes from airline parties (kooky) to an Elsa doll (elusive) to chips (free!)

Dec 24 ,2014, city : Dubai

For the most part business is, well, serious business. But forget the big picture for a second – the close-up is where you find the details that give the thing its character. Let us look back at 2014 in business on a small scale, the incidents and anecdotes that mean …

We’re ready for our close-up.
... more

Dubai landlord sends eviction notice to DIFC tenant via WhatsApp, is that valid?

Dec 24 ,2014, city : Dubai

Does a tenant living in DIFC have to be served a one-year notarised notice to vacate? I had a contract that had “one year non-renewable” on it (which I heard is illegal anyway) and then in November my landlord sent me a WhatsApp message saying I had to leave in January. Before that he asked my permission to allow viewings, as ... more

Dubai sees biggest annual rent rises in world despite flat Q3

Dec 24 ,2014, city : Dubai

Average rents in Dubai remained unchanged in the third quarter of 2014 but the emirate still registered the biggest annual growth, according to a new Knight Frank report.

Its Prime Global Rental Index revealed that rental growth in Dubai was more than 12 percent compared to Q3 2013.

It topped a list of 16 rea... more

Dubai’s high-street locations hold their own against malls

Dec 24 ,2014, city : Dubai

 Dubai: Rentals on Dubai’s high-streets are becoming gilt-edged. For its new showroom, a ground plus four property, in Deira Gold Souq, India’s Meena Jewellers is paying a handsome Dh1 million plus as rental. The ground and three levels have been set aside for the jewellery and one floor will be used for its offices.
more

Buying property can never go out of fashion

Dec 24 ,2014, city : Dubai

 Dubai: When in doubt, investors are more likely to be assured by the solidity represented by a property asset.

“That’s what investors, the overseas ones in particular, tend to do when they see a lot of turmoil around,” said Ali Rashid Lootah, Chairman of Nakheel, at a media interaction earlier this w... more

Dubai realty’s transition from euphoria to caution

Dec 24 ,2014, city : Dubai

 Dubai: When it comes Dubai’s property market, euphoria may not necessarily be a good thing. In contrast, a sentiment that veers towards caution may just be ideal. Over the last 12 months, investor and developer sentiment about Dubai’s property market has swung from extreme exuberance to one displaying a more measured out... more

Saudi Telecom To Book $166m Gain On Land Transfer To Government

Dec 23 ,2014, city : Dubai

Saudi Telecom Co said on Tuesday it would book a SAR621 million ($166 million) gain in the fourth quarter of this year due to expropriation of some of its land holdings by the government.

The company originally announced in June that the government had seized a 1.05 million square metre plot in the Al Faisaliah district of ... more

Dubai home prices flat as mortgage cap checks property transactions

Dec 23 ,2014, city : Dubai

Home prices in Dubai stayed flat in the third quarter from the previous period as the mortgage cap introduced late last year continued to check the volume of property transactions, according to Colliers International.

In the third quarter, property transactions were 6 per cent lower than in the previous quarter, data from t... more

Dubai's Damac offers free cars with properties bought until Feb 1

Dec 23 ,2014, city : Dubai

Dubai developer Damac Properties announced this week it is to give away free luxury cars, from Aston Martins or Mercedes-Benzs, as part of its promotional drive during Dubai Shopping Festival (DSF), which starts in January 2015.

“In celebration of the 20th anniversary of Dubai Shopping Festival, we are offering the mo... more

Why Dubai’s luxury real estate still makes sense

Dec 23 ,2014, city : Dubai

 Dubai: For the rich seeking better than average returns on assets, Dubai’s upscale residential market still has got what it takes. According to the latest Knight Frank survey on cities with the highest rental gains in the 12 months to September last, Dubai was comfortably placed at the top with a 12.4 per cent increase, and ah... more

Where to buy a Christmas tree in Dubai 2014

Dec 23 ,2014, city : Dubai

Which tree?

First things first, you need to decide what kind of tree you want. Each tree offers something a little bit different. Here are your main options.

Fir trees
Firs and spruces appear quite similar, but look to their needles ... more

Nakheel to float Deira Islands Mall tender next month

Dec 22 ,2014, city : Dubai

Property developer Nakheel has announced a second extension to Ibn Battuta Mall in Dubai, adding another 640,000 sq ft of shop space and a multi-storey car park to the complex.

The developer also confirmed plans to release a tender for the construction of Deira Islands Mall in January 2015.

Almost a third of ... more

Dubai’s developers stretch their payment plans

Dec 22 ,2014, city : Dubai

Dubai: Developers with new off-plan launches in Dubai are now working on reducing the burden imposed on the buyer by the upfront payments as well as on their mortgage instalments. Going forward, with the market more in need of end-users and investors who think long-term, generous payment schedules will be critical in ensuring success of o... more

Emaar Properties Says Dubai Real Estate Head To Leave At Year-End

Dec 22 ,2014, city : Dubai

Emaar Properties said on Monday that the head of its Dubai real estate business would leave the firm at the end of the year.

“We would like to clarify that Robert Booth, CEO of Emaar Dubai Real Estate, will continue to handle his responsibilities until the end of the year 2014,” Dubai’s largest developer s... more

Year in review 2014: Most common property problems in the UAE

Dec 22 ,2014, city : Dubai

This year it became clear to me that there is still much confusion between the rights of landlords and tenants, so to be able to clarify to the public the correct path to follow as per the law and then to receive follow-up feedback makes the job worthwhile.

Over the last 12 months, I have had a wide range of queries but the... more

Dubai office costs ranked highest in Middle East

Dec 22 ,2014, city : Dubai

Dubai remained the Middle East's highest-priced office market but rates are nearly a third that being charged in London's West End, a CBRE survey revealed on Monday.

CBRE Research’s semi-annual Global Prime Office Occupancy Costs survey ranked Dubai 23rd in the list of the world's most expensive office mar... more

Healthy Dubai real estate market can ride out cheap oil

Dec 22 ,2014, city : Dubai

The plunge in oil prices may take more of the froth off Dubai's booming real estate market, but broad-based demand for property is likely to prevent any crash.

As the global financial crisis slashed oil and equity prices in 2008, Dubai's real estate market began a collapse that roughly halved residential prices in 1... more

Buy a home get a car free… deals are back in Dubai

Dec 22 ,2014, city : Dubai

It appears we are approaching that time of year again when the real estate sector pulls out all stops to fuel a buying frenzy in the New Year.

In the past we have seen private planes and luxury yachts being served up as the hook to reel in potential new home owners; this Dubai Shopping Festival, one developer has shifted ge... more

Emaar says Dubai real estate head to leave

Dec 22 ,2014, city : Dubai

Emaar Properties said on Monday that the head of its Dubai real estate business would leave the firm at the end of the year.

"We would like to clarify that Robert Booth, CEO of Emaar Dubai Real Estate, will continue to handle his responsibilities until the end of the year 2014," Dubai's largest developer said ... more

Gingerbread House at La Farine

Dec 3 ,2014, city : Dubai

La Farine - JW Marriott Marquis Dubai
Business Bay
Wed, 03 December - Fri, 02 January
12:00 am - 11:59 pm
04 4409300 ext:987


Tags : Kids allowed

Event Description :

La Farine’s life sized Gingerbread House is b... more

Dubai Developer Omniyat Says 81% Of Units Sold Off In New ANWA Project

Dec 21 ,2014, city : Dubai

Dubai developer Omniyat said that it sold 81 per cent of units in its newly unveiled ANWA project during the first phase of launch.

The company registered Dhs432 million in sales for the seafront project, it revealed in a statement.

Currently, only units in the upper floors of the G+44 are available along with ... more

Nakheel aims to become Dubai’s biggest shopping centre operator

Dec 21 ,2014, city : Dubai

Nakheel aims to become the biggest shopping centre operator in Dubai with a retail portfolio three times bigger than The Dubai Mall.

The palm islands developer is set to tender a raft of big projects in the new year as it switches focus to generate more recurring revenue.

It will seek bids next month for its ... more

Total value of Burj Khalifa mortgages soars 95%

Dec 21 ,2014, city : Dubai

The value and volume of new mortgages taken out on properties in Burj Khalifa, the world’s tallest residential tower, rose by nearly 100 percent during the first nine months of 2014, according to data from Reidin.com and published by the Emirates24|7.

According to the data, the number of buyers taking out mortgages du... more

Nakheel all set to ramp up at Deira Islands

Dec 21 ,2014, city : Dubai

 Dubai: In what will be a substantial boost for the local construction sector early in the new year, Nakheel confirmed tenders will be called for the Dh1.7 billion plus (excluding the land cost) Deira Islands Mall — with a gross leasable area of 2.85 million square feet — by late January. The mall project will also encomp... more

Emirates Reit proposes Dh44m dividend for 2014

Dec 21 ,2014, city : Dubai

Nasdaq Dubai-listed Emirates Reit, a Shariah-compliant real estate investment trust, today announced its proposal to pay an interim dividend of $11.98 million (Dh44m) or $0.04 per share for 2014.

It said those shareholders will be eligible for the dividend whose names will appear on the register at 2pm on the January 21, 20... more

Dubai's Burj Khalifa remains a big draw for investors

Dec 21 ,2014, city : Dubai

The number of investors buying into Burj Khalifa, the world’s tallest residential tower, through home loans has doubled in the first nine months of 2014 compared to the same period last year, reveals data shared by Reidin.com with ‘Emirates24|7’.

The number of mortgage transactions for the super skyscraper... more

Dubai Properties awards $147m deal to expand Remraam project

Dec 19 ,2014, city : Dubai

Dubai Properties has announced that it has awarded a AED541 million ($147.3 million) construction contract to expand its Remraam community.

The decision to expand Remraam comes in response to the recent market demand for affordable housing, the developer said in a statement.

It said it has awarded the contrac... more

Dubai developer Limitless hosts Vietnamese delegation

Dec 18 ,2014, city : Dubai

Dubai: Dubai developer Limitless hosted Vietnam’s Deputy Prime Minister, Nguyen Xuan Phuc, and his delegation this week as part of the Vietnam Days in the UAE event, according to a company statement on Thursday.

The group discussed mutual opportunities for investment, before attending the Vietnam Business Leaders Foru... more

Dubai rental stagnation likely to be 'short lived'

Dec 18 ,2014, city : Dubai

Average rents across Dubai’s freehold areas have declined in the third quarter 2014 compared to the second quarter, falling 0.4 per cent, according to Cluttons.

The real estate consultancy in its 'Dubai Winter 2014 Residential Market Outlook' report, however, states that average rental values are up nearly fiv... more

Abu Dhabi gains with hotel apartments at Fairmont Marina Residences

Dec 18 ,2014, city : Abu Dhabi

Hotel apartments in what could be considered Abu Dhabi’s answer to Dubai’s Atlantis The Palm have gone on sale in the capital.

The 249 serviced apartments in Fairmont Marina Residences, a 39-storey Arabian themed skyscraper – that resembles the hotel located at the top of Dubai’s Palm Jumeirah - will... more

Dubai Ice Rink Skating Academy presents “A Winter’s Tale”

Dec 26 ,2014, city : Dubai


Start Date :    26 December 2014
End Date :    27 December 2014


Be witness to Dubai Ice Rink Skating Academy’s first annual skating production “ A Winter’s Tale” with stage set on the Dubai Ice Rink and performed b... more

Winter Wonderland at Galeries Lafayette

Dec 18 ,2014, city : Dubai


Start Date :    18 December 2014
End Date :    25 December 2014


Experience the magic of Snow in Winter Wonderland, The Biggest Festive Shopping Destination in Dubai at Galeries Lafayette, The Dubai Mall!

Enjoy the snow dail... more

KidZania’s Sharing wishes

Dec 11 ,2014, city : Dubai


Start Date :    11 December 2014
End Date :    03 January 2015


This festive season, KidZania transforms into a magical city full of lights and stars.

All kids are invited to enjoy special festive activities and have great f... more

Dubai’s Off Plan Property Sales On Rise – Cluttons

Dec 17 ,2014, city : Dubai

Off-plan sales in Dubai’s residential market have risen despite a fall in overall property transactions in 2014, according to the latest update from real estate firm Cluttons.

Freehold transactions in Dubai fell by almost one-third in total during the third quarter of 2014 as the emirate’s off-plan residential s... more

Slide in Dubai villa prices to last into next year

Dec 17 ,2014, city : Dubai

Villa prices in Dubai will continue to soften into next year with the cap on mortgage lending to home buyers the biggest factor behind the slowdown, according to research from Cluttons.

“Almost a year after the introduction of the federal mortgage cap, the residential market appears to have finally succumbed to the st... more

Ex-husband rents out jointly-owned Dubai villa without permission

Dec 17 ,2014, city : Dubai

I am the joint title holder of a villa in Dubai. The property is held jointly by myself and my ex-husband. The fact that the property was jointly held by us was not revealed to me until lately when my ex started forcing me to give a Power Of Attorney (POA) for the property. I then came to know that he has rented the property, but of cours... more

Dubai house prices, rents dip during Q3, says Cluttons

Dec 17 ,2014, city : Dubai

Dubai's off plan sales market has retained its momementum despite a stagnation in capital value growth and a fall in transactions, Cluttons said on Wednesday.

Its latest research showed that freehold transactions fell by almost one third during the third quarter of the year while house price growth slipped by 0.3 percen... more

Adjusting to the new normal in Dubai’s realty

Dec 17 ,2014, city : Dubai

At the beginning of the year, forecasts abounded of an ebullient year for the real estate market in Dubai. Prices were ratcheting higher and there was a dazzling array of projects being announced and met by hordes of investors sweeping in to snap up the inventory.

By all measures, it was supposed to be a record-breaking yea... more

UAE developers wary about Russian buyer exposure

Dec 17 ,2014, city : Dubai

 Dubai: Some UAE developers are taking a closer look at their off-plan sales to see the level of their exposures to overseas buyers, and especially to those from Russia or one of the CIS states. The check is to see whether these buyers can stick with their upcoming instalment commitments given how some of the currencies have been per... more

Will residential rents in Dubai decline in 2015?

Dec 17 ,2014, city : Dubai

With at least 20,000 new residential units likely to be added to the existing supply of houses in Dubai in 2015, CBRE, a global real estate consultancy, believes the supply could have a deflationary impact on sales and rental rates.

 “The residential segment has experienced a period of relative stability during H... more

Dubai House Rents Stabilise But Still Far From Affordable –CBRE

Dec 16 ,2014, city : Dubai

Dubai’s residential rents have stabilised in the second half of 2014, growing seven per cent year-on-year in 2014, compared to a growth of 24 per cent in 2013, a new report showed.

According to the latest report from real estate consultancy CBRE, over 20,000 new units are expected to enter the market over the next 1... more

CBRE warns oil decline could take toll on overseas ambitions of GCC sovereign wealth funds

Dec 16 ,2014, city : Dubai

Slumping oil prices could prevent the GCC’s vast sovereign wealth funds from buying trophy assets abroad, experts have warned.

The property broker CBRE is predicting that if the price of Brent crude continues to drop for a sustained period then the huge government-owned funds tasked with spending surplus cash on asset... more

Dubai house price growth slows dramatically in 2014

Dec 16 ,2014, city : Dubai

Dubai house prices have risen by seven percent in 2014, less than a third of the growth seen in the previous year, CBRE said on Tuesday.

The residential segment experienced a period of relative stability during the second half 2014, with rental rates remaining broadly flat.

Over the course of the year, modest... more

Abu Dhabi's Aldar in talks to launch hotel in Kazakhstan

Dec 16 ,2014, city : Abu Dhabi

Aldar Properties is in the final stage of negotiations with Starwood Hotels & Resorts on a 190-key hotel in Kazakhstan, marking the firm’s first project outside of Abu Dhabi.

Aldar, which has 2,536 hotel keys in total, 2,259 of which are situated on Yas Island, already has Yas Viceroy, Tilal Liwa Hotel, Yas Crowne... more

Balance shifting away from Dubai’s landlords: CBRE

Dec 16 ,2014, city : Dubai

 Dubai: Landlords in Dubai should be careful what they ask for — with more than 20,000 new homes set to join the residential stock in the next 12 months, they may not be able to get away with hiking rents arbitrarily. Quite a substantial portion of the new units are being added in mid-tier, relatively more budget-friendly locat... more

Qatar’s Barwa Real Estate Wins $206m Warehouse Contract

Dec 15 ,2014, city : Dubai

Qatar’s Barwa Real Estate has won a QAR750 million ($206 million) contract from a government company to build and operate low cost-warehouses, Barwa said on Monday.

The 25-year arrangement was awarded by state-owned Manateq, according to a statement to Doha’s bourse. It did not state how many warehouses Barwa wo... more

Moscow sets out to woo UAE investors over property projects

Dec 15 ,2014, city : Dubai

Moscow is looking to the Arabian Gulf to help fund a raft of property projects as the sliding rouble threatens a winter of discontent for the real estate sector in the Russian capital.

The city aims to attract investors from across the GCC to implement planned urban projects with a mid-term real estate potential of about 18... more

wasl says phase 1 of Dubai Creek project sells out in hours

Dec 15 ,2014, city : Dubai

wasl Asset Management Group said on Monday that the first phase of residential units in its mixed-use Hyatt Regency Creek Heights Residences has sold out within hours of being launched.

The new luxury project, located on the Dubai Creek, marks wasl's entry into Dubai's freehold real estate sector for the first time,... more

Sweden in Dubai: Live in your own Dh40m home on The World

Dec 15 ,2014, city : Dubai

Here is your limited chance to live the Swedish lifestyle in Dubai.

Kleindienst Group, developer of The Heart of Europe (THOE) on The World, a master development built by Nakheel, has released 10 seven-bedroom villas with each one having its own private beach.

The villas, which are in the phase two of THOE, wil... more

Aldar to cut debt by over a third in 2 years: CFO

Dec 15 ,2014, city : Abu Dhabi

Abu Dhabi's Aldar Properties will cut its debts by more than a third over the next two years, its chief financial officer said, extending a trend that has already led to credit agencies upgrading their ratings on the company.

Aldar, 34 percent-owned by Abu Dhabi government fund Mubadala Development Co, had Dh9.6 billion... more

Rents on prime office space in Dubai jump 25 per cent

Dec 14 ,2014, city : Dubai

Prime office rents in central Dubai jumped 25 per cent during the 12 months to the end of September as the hard-hit office market continued to recover on the back of demand from banks, developers and airlines.

Grade A office rents rose 8.7 per cent from the second quarter to an average of Dh250 per square foot, according to... more

Abu Dhabi resident buys apartment but told defects won’t be fixed on handover

Dec 14 ,2014, city : Abu Dhabi

I recently bought an apartment in Abu Dhabi from the original owner and the completion took place at the end of October when we finished the transfer of ownership at the developer’s offices. After all the documents were signed, the keys were finally turned over to us by the previous owner and the next day we checked our newly bought... more

Dubai prime office rents rocket amid strong demand

Dec 14 ,2014, city : Dubai

A shortage of prime office space in Dubai, which is being underpinned by robust demand, has translated into strong upward pressure on rents across the city, Cluttons said in a new report on Sunday.

The real estate consultancy said a rapidly diminishing supply of Grade A space in more centrally located submarkets and freezon... more

At Dubai Gold Souq, properties worth their weight in gold

Dec 14 ,2014, city : Dubai

 Dubai: With limited new retail space at Dubai’s fabled Gold Souq, older properties — even one that hosted a restaurant until now — are being snapped up by jewellery retailers at that location.

A prime tourist attraction, 70 per cent of sales at the Gold Souq are now made to overseas visitors, for who... more

Dubai office rents up 44% in a year... what led to this rise?

Dec 14 ,2014, city : Dubai

Increase in number of enquiries from corporates to small and medium enterprises, and a resultant shortage of Grade A office space in Dubai, has driven office rents in the emirate to register a 44 per cent increase in the past 12 months, according to a new report.

“Prime office rents continued to edge upwards during th... more

Eviction orders to illegally-partitioned villa tenants in Abu Dhabi

Dec 14 ,2014, city : Abu Dhabi

Abu Dhabi residents, who have been living in illegally partitioned villas, have been served notices to vacate before end-December.

A resident of Khalifa City A, told ‘Emirates24|7’, that they are in the process of finding alternate accommodation after being served the eviction notice.

In the notic... more

Emaar to distribute dividend on Dec. 23

Dec 14 ,2014, city : Dubai

Dubai’s Emaar Properties will distribute a special cash dividend of Dh9 billion to shareholders on December 23, 2014, the company said.

The special cash dividend being distributed this month, takes the total dividend distributed in 2014 to Dh17.12 billion.

“This year has been extremely significant... more

NRI Alert: Buying property in India can give you 10% bonus right away

Dec 12 ,2014, city : Dubai

Non-resident Indians (NRIs) buying property in India today can easily save up to 10 per cent on their investment due to a weakened Rupee, with real estate experts expecting property appreciation driven by favourable economic conditions.

“Property prices in M... more

Investor raises stake to finance propertyfinder expansion plan

Dec 12 ,2014, city : Dubai

Dubai-based property website propertyfinder.ae has announced that its lead investor has committed to further funding to finance on-going expansion of the brand in the Middle East.

The real estate website, set up in 2007 by CEO Michael Lahyani to tap into the fast growing UAE property boom, has seen rapid expansion this year... more

Expats home in on UAE property with rents on the rise

Dec 11 ,2014, city : Dubai

With housing rents and prices in the UAE continuing to increase many expatriates are considering taking the plunge and buying a home.

According to the Dubai Land Department, Indian investors spent more than Dh10.5 billion during the first half of 2014 while Britons spent another Dh5.8bn in the emirate.

Dubai ... more

Qatari bid for Canary Wharf owner wins more support

Dec 11 ,2014, city : Dubai

The Qatari-led group attempting a takeover of Songbird Estates, owner of the Canary Wharf financial district in London, said another shareholder had pledged support to take total acceptances to nearly a third of the company's free float.

Qatar Investment Authority (QIA) and its bidding partner, US investor Brookfield Pr... more

Gold, plane tickets, discounts: enticements for Indian property buyers

Dec 10 ,2014, city : Dubai

 Dubai: Developers in India are giving away gold, plane tickets to visit project sites, instant discounts on bookings made online and using celebrity fashion designers and Bollywood names to do up homes ... all in a bid to reel in buyer interest.

They needn’t have tried that hard.

According to indu... more

Dubai Developer Revives Port City Project With $183m Tower

Dec 10 ,2014, city : Dubai

Omniyat Group began work on a 48-storey tower in Dubai Maritime City on Tuesday, the first residential building under construction at the long-delayed project as developers bet the emirate’s renewed property boom is sustainable.

Dubai rents had risen for 10 straight quarters before falling one per cent in the third qu... more

Dubai landlord agrees to freeze rent for 2 years - but hikes it 15%

Dec 10 ,2014, city : Dubai

My landlord increased the rent in 2013 based on the Rera calculator. We agreed and paid the increase as he assured us he would not increase the rent for the coming year (ie this year’s renewal in 2014). However, we were very surprised when he sent us an email around three months ago asking for another 15 per cent increase this year ... more

Fairmont Residences on Abu Dhabi breakwater go on sale

Dec 10 ,2014, city : Abu Dhabi

Luxury serviced apartments on the Abu Dhabi breakwater near Marina Mall are now available to purchase.

The 249 apartments at the Fairmont Marina Residences are part of the 563-room Fairmont Marina Resort, which is due to open in 2016, and currently consists of two rapidly growing Arabian-themed towers that will have 39 stor... more

Weak oil prices could spill into real estate sentiment

Dec 10 ,2014, city : Dubai

 Dubai: Sentiments, rather than actual fundamentals, could get in the way of investor interest in the Gulf’s property market, principally in residential.

As has been the case on the stock exchange, investors could take a more cautious approach towards realty exposures given how oil prices have been behaving. Howe... more

India showcases Dh15bn worth properties in Dubai

Dec 10 ,2014, city : Dubai

At least 45,000 properties worth Dh15 billion will be showcased at the 15th edition of Indian Property Show in Dubai.

NRIs can get properties for as low as Rs1.5 million to high-end luxury properties running into multiple millions.

“In June 2014 over 22,000 people visited the show as exhibitors did bris... more

UAE developers launch 5 projects worth Dh3 billion in one day

Dec 10 ,2014, city : Dubai



Five new projects worth Dh3 billion were launched in the UAE on Tuesday, indicting the growing confidence of the industry and investors in the country’s real estate market.

Four of the projects were launched in Dubai, while one was unveiled in Fujairah.

Omniyat Group, a Dubai developer, ... more

Real estate boom: 19 towers to come up in Dubai Maritime City by 2019

Dec 10 ,2014, city : Dubai



The launch of these 11 projects is expected by first quarter of 2015, with the announcements being made by respective developers.

Buamim said the 19 towers will be completed between 2017 and 2019.

On Tuesday, Omniyat Properties, a Dubai-based developer, broke ground on its Dh600 million &ldquo... more

Tiger Woods to design new Dubai golf course

Dec 9 ,2014, city : Dubai

DUBAI // Tiger Woods plans to take another swing at golf course development in Dubai after his first drive ended in the bunker.

The golfing superstar will design the new 18-hole championship golf course in Dubai to be built by Damac Properties and operated by The Trump Organisation.

“Tiger Woods is one ... more

Abu Dhabi firm seals $579m deal to buy New Scotland Yard

Dec 9 ,2014, city : Abu Dhabi

New Scotland Yard, the headquarters of the Met police in London, has been sold to Abu Dhabi Financial Group for £370 million ($579.1 million), it was announced on Tuesday.

The Abu Dhabi investment company paid £120 million more than the asking price for the 1960s block and and plans a development of luxury flats... more

Maritime City: Dubai’s next seaside high-rise destination

Dec 9 ,2014, city : Dubai

 Dubai: Dubai will have a new destination for high-rise projects by the sea with the revised masterplan for Dubai Maritime City (DMC) in the final stages of the approval process.

The first of the towers — the 48-storey ‘Anwa’ from Omniyat Properties — goes on sale Wednesday December 10 with pric... more

7 Guinness World Records honour for Dubai's Burj Khalifa

Dec 9 ,2014, city : Dubai

Dubai’s Burj Khalifa, a global icon and world’s tallest tower that hold seven Guinness World Records, has been honoured in the first part of 13-part series of short films released as part of the 60th anniversary celebration by Guinness World Records.

To commemorate 60 years of Guinness World Records, a series of... more

Price decline not stopping developers from launching new projects in Dubai

Dec 9 ,2014, city : Dubai

Dubai property prices declined by 5.2 per cent in the third quarter 2014, a UK-based Knight Frank report stated on Tuesday, but developers in Dubai continue to launch new projects as the emirate remains among the top global cities for real estate investment.

Prices have risen by 12.5 per cent in the year to September 2014 (... more

Reality strikes Abu Dhabi landlords, substantial future rent rise unlikely

Dec 9 ,2014, city : Abu Dhabi

The fear of landlords resorting to arbitrary rent hikes following removal of the annual five per cent cap of rental increases in Abu Dhabi this year has proved far less controversial than expected with the pace of rent increase slowing down, says a new report.

Rents in the capital’s freehold areas rose by mere... more

Dubai sees first quarterly house price drop in four years

Dec 8 ,2014, city : Dubai

Dubai's real estate market recorded its first quarterly house price decline in four years, with prices falling more than five percent between June and September, Knight Frank said on Monday.

The Knight Frank Global House Price Index showed property prices in the emirate slumped 5.2 percent in the three-month period but ... more

Abu Dhabi Sees Rental Growth Slowdown In First Nine Months Of 2014

Dec 8 ,2014, city : Abu Dhabi

Residential rents across freehold areas in Abu Dhabi rose by 2.7 per cent during the first nine months of 2014, much lower than the nine per cent growth recorded during the same period last year, according to the latest report from property consultancy Cluttons.

With average household incomes failing to keep up with the gro... more

Abu Dhabi rental growth slows dramatically despite rent cap removal

Dec 8 ,2014, city : Abu Dhabi

Rental growth in Abu Dhabi during the first nine months of 2014 was a third of that seen in the same period last year, Cluttons said in a new report.

Rents across freehold areas in the UAE capital rose by just 2.7 percent between January and September compared to nine percent in the nine-month period in 2013, the real estat... more

Dubai Parks and Resorts Dh2.5bn IPO to test investor sentiment as DFM slides

Dec 8 ,2014, city : Dubai

The Dh2.5 billion IPO of Dubai Parks and Resorts is to become a litmus test for investor sentiment as the emirate’s benchmark index fell into bear territory for the second time this year.

Dubai Parks yesterday announced big levels of oversubscription for its offering, with some of the most prestigious investors in the... more

Reem Island registers biggest rent gains in Abu Dhabi

Dec 8 ,2014, city : Abu Dhabi

Abu Dhabi’s Reem Island recorded the biggest rent gains in the capital during the third quarter, according to Cluttons, the property consultancy.

Mid-range apartments increased on average by almost 6 per cent in the three months to the end of September.

But the jump only brought average rents on the isl... more

What is your Dubai property market-value today? Click to know

Dec 8 ,2014, city : Dubai

Dubai property prices have increased this year compared to 2013, but often property sellers are not aware of the current market valuation of their properties.

They simply rely on real estate agents to price tag their units.

“There is no official sales price index for investors and so I generally leave i... more

Arabian Business Rich List: How we did it

Dec 7 ,2014, city : Dubai

Our first ever Rich List was published in 2004, and at the time caused considerable controversy. No magazine had ever attempted to assess the wealth of the world’s richest Arabs, and nobody had ever come close to publishing it in such detail.

Over the past 11 years, the list has not only become a major fixture in the ... more

5 reasons why you should always register your Dubai rent contract

Dec 7 ,2014, city : Dubai

It is compulsory for every renter in Dubai to register the lease contract – residential or commercial - on Ejari, an initiative of Real Estate Regulatory Agency (Rera), the regulatory arm of Dubai Land Department, to regulate and facilitate the rental market.

The registration safeguards the tenants’ rights and o... more

Developers in UAE pre-empt onrush of demand in construction sector

Dec 6 ,2014, city : Dubai

 Dubai: Local developers are moving in to lock in their project contracts well ahead of the anticipated demand rush on construction industry resources in the medium-term.

“Staying ahead of the curve would mean doing everything possible to win contractor commitments now rather than 24 months later, when there coul... more

Philippine properties offer highest rental yield in Asia, beats Hong Kong, India

Dec 5 ,2014, city : Dubai



Foreigners can purchase properties in the Philippines, which is currently offering the highest rental income among all Asian countries, according to organisers of Philippine Property and Investment Exhibition (PPIE).

A 120 square metre apartments located in the Philippines’ top city centres fetches a g... more

Saudi Builder Khodari Gets $360m University Housing Contract

Dec 4 ,2014, city : Dubai

Saudi Arabian construction firm Abdullah Abdul Mohsin al-Khodari and Sons has won a SAR1.35 billion ($359.7 million) contract from the government for construction of staff housing at King Khaled University, it said in a statement on Thursday.

The contract has been awarded by the Ministry of Higher Education, it said, adding... more

Developers in UAE marketing storage space as maids quarters

Dec 4 ,2014, city : Abu Dhabi

ABU DHABI // Many developers of high-end residences in the capital have been passing off storage space as quarters for maids.

Some developers describe such spaces as utility rooms to get planning permission, then change the description to maid’s room in advertising material.

These rooms are smaller than... more

Manchester City owner buys St Regis hotel on Saadiyat Island from TDIC

Dec 4 ,2014, city : Dubai

The owner of Manchester City football club has bought the St Regis hotel on Saadiyat Island and many of the villas and apartments around it from the Abu Dhabi government-owned developer Tourism Development & Investment Company (TDIC).

Apartment and villa residents were informed this week that Abu Dhabi United Group Inve... more

Knight Frank partner and sport fanatic’s pilot project

Dec 4 ,2014, city : Dubai

James Lewis is a partner at Knight Frank, the world’s largest privately owned and operated real estate service provider. Mr Lewis, 37, from the Isle of Wight in the United Kingdom, started his career with the company in London in 2000 and has worked with teams in both the commercial and residential divisions. A chartered surveyor, h... more

Beachfront living at Dh32m Balqis Residence on Dubai’s Palm Jumeirah

Dec 4 ,2014, city : Dubai

Palm Jumeirah has long held its position as one of the top luxury destinations to live in Dubai.

But like all areas in the emirate, it was not immune to the fallout of the global financial crisis, with several projects on the development stalled as a result.

Among them is Balqis Residence, part of the Kingdom... more

Top 10 factors to consider when buying villa in Dubai

Dec 4 ,2014, city : Dubai

Villa community living is a preferred option for many in Dubai and if you are thinking of buying one of your own in the city it’s important that you consider some crucial factors.

These attributes can not only make your big investment a profitable one but also make your stay in your abode pleasurable and comfortable. ... more

Swap deal seems best bet for frustrated buyer of off-plan Dubai property

Dec 3 ,2014, city : Dubai

I bought an off-plan property in a Dubai development in 2008. The property was purchased directly from the developer who also arranged Islamic mortgage finance for the property. I paid 10 per cent as the initial deposit with the handover date given as December 2010. The project was then scaled back following the crash and my apartment was... more

Dubai realty benefits as a Canal runs through it

Dec 3 ,2014, city : Dubai

 Dubai: It’s not just waterfront properties in Dubai that are riding the wave of higher demand. The extension of the Canal works — already visible in key stretches of the city — has been providing a welcome lift for yacht sales as well.

“The expansion of the canal system adds to the opportunitie... more

For UAE’s malls fast-track change is a near constant

Dec 3 ,2014, city : Dubai

 Dubai: The UAE has come a long way in the last few decades, from its traditional souk retail to modern retail formats.

There are a variety of formats, ranging from strip retail and community centres to super-regional malls, with Dubai as the most mature market in the region. The impressive blend of shopping and entert... more

Oman sets sail with mega waterfront project

Dec 3 ,2014, city : Dubai

 Dubai: The design elements for Oman’s new waterfront development — and in scale its most ambitious to date — are starting to take shape. Located in the Al Seeb locality and close to the international airport, the $2.3 billion “Omagine” master-development will feature seven pearl-shaped buildings, each o... more

Revealed: When in 2014 did Dubai rents fall and rise the most

Dec 3 ,2014, city : Dubai

Residential rents in Dubai peaked in February 2014, but the pace of increase slowed down drastically in June, reveals data released by Reidin.com.

In February, rentals jumped 2.99 per cent month-on-month (m-o-m) as apartments and villas registered an increase of 3.27 per cent and 1.64 per cent respectively.

D... more

Qatar’s Barwa Signs Deal To Sell Land Plots For $1.47bn

Dec 2 ,2014, city : Dubai

Qatar’s Barwa Real Estate has signed a deal to sell two plots of land for a combined QAR5.34 billion ($1.47 billion) to an unidentified buyer, the company said on Tuesday.

Barwa will deliver the first plot of land, which it is selling for QAR2.63 billion, by the end of 2014, it said in a statement on Qatar’s sto... more

Investors on stalled Palm Jebel Ali project at odds with developer Nakheel

Dec 2 ,2014, city : Dubai

Hundreds of investors on Dubai’s Palm Jebel Ali have called on developer Nakheel to restart the project.

An estimated 400 to 450 people, most of whom made down payments during Dubai’s boom years between 2004 and 2008, find themselves in financial limbo.

All the units under the Palm Jebel Ali proje... more

Qatar's Barwa inks $1.47bn deal to sell land plots

Dec 2 ,2014, city : Dubai

Qatar's Barwa Real Estate has signed a deal to sell two plots of land for a combined 5.34 billion riyals ($1.47 billion) to an unidentified buyer, the company said on Tuesday.

Barwa will deliver the first plot of land, which it is selling for 2.63 billion riyals, by the end of 2014, it said in a statement on Qatar's... more

Building new projects our participation in Dubai's growth: Alabbar

Dec 1 ,2014, city : Dubai

The chairman of Emaar Properties, Dubai’s largest developer, has ruled out any adverse impact of new mega development on Downtown Dubai, which houses Burj Khalifa, the world’s tallest tower and Dubai Mall, one of the largest malls in the world.

“Cities grow… we have done Downtown Dubai and now we wi... more

Revealed: Where UAE Filipinos investing savings

Dec 1 ,2014, city : Dubai

Nearly 20 per cent of Filipinos in the UAE plan to buy property in the Philippines within one year, with 50 per cent respondents putting property investment as priority, according to a survey of 1,000 Filipinos based in the UAE.

The survey, conducted by New Perspective Media, organisers of Philippine Property and Investment... more