Latest Real Estate News in UAE

GCC likely to see projects scaled back, delayed as cheap oil bites

Dec 31 ,2015, city : Dubai

GCC governments are likely to cut spending on development and infrastructure projects, resulting in "headwinds and challenges" for the region's real estate sector, consultants JLL has said.

The real estate investment and advisory firm said projects could be scaled back or rescheduled amid the impact of lower o... more

Danube launches affordable housing project in Dubai

Dec 30 ,2015, city : Dubai

Danube Properties has unveiled an affordable housing project in Dubai that will allow homeowners to turn “one room into two”.

Based at Al Furjan, near the Ibn Battuta mall, the Ritz project, will comprise 452 fully-furnished apartments, comprising studio, one- and two-bedroom units.

The design for... more

RAK Properties awards marina management contract to ART Marine

Dec 29 ,2015, city : Abu Dhabi

RAK Properties, Ras Al Khaimah's property developer listed on the Abu Dhabi Stock Exchange, has announced that it has signed a marina management Agreement with the ART Marine company.

ART Marine will operate the newly constructed Lagoon Marina, which is located at the heart of Lagoon Walk in Mina Al Arab, an eco-themed ... more

Business Bay, Dubai Marina register highest property deals in 2015

Dec 29 ,2015, city : Dubai

Business Bay topped the list of highest transactions in Dubai in 2015, while Dubai Marina topped the chart in the value terms, Al Bayan newspaper quoted figures from Dubai Land Department.

Data showed that 2,131 deals worth Dh3.4 billion were done in Business Bay. The total value of transactions in Dubai Marina was Dh3.9 bi... more

How to convert your 1BR into a 2BR unit on the cheap

Dec 29 ,2015, city : Dubai

A Dubai-based developer is bringing innovation in the “affordable” housing market segment by offering "convertible" apartments.

Buyers in the Dh300-million Ritz, a project by Danube Properties, subsidiary of Danube Group, in Al Furjan community will be able to pull down their wall bed in the living roo... more

Sharjah residential rents stagnate, fall 1.6% over past year

Dec 28 ,2015, city : Dubai

Sharjah's residential property market is starting to show signs of softening at the end of 2015, according to real estate consultancy Cluttons.

According to its Sharjah 2015/2016 Winter Property Market Snapshot, residential rents during the third quarter of 2015 stagnated and recorded a marginal 0.3 percent increase, wh... more

wasl says to start leasing units in Dubai affordable homes project

Dec 24 ,2015, city : Dubai

wasl properties has announced that it will begin leasing 280 units in its new wasl oasis II development in Muhaisnah, Dubai as part of a push to offer affordable homes in the emirate.

The real estate management company, a subsidiary of wasl Asset Management Group, said it plans to launch seven out of 23 buildings on Decembe... more

Abu Dhabi approves $4.76bn gov't projects for 2016

Dec 24 ,2015, city : Abu Dhabi

Abu Dhabi's Executive Council has approved the allocation of AED17.5 billion ($4.76 billion) for government capital projects in 2016.

The spending plan, which aims to "invest all efforts to support the citizens’ stability and decent life requirements", includes AED5.9 billion for housing.

... more

Top 5 popular Dubai residential areas in 2015

Dec 22 ,2015, city : Dubai

Affordability was an important factor for renters across Dubai, but location and high demand made Dubai Marina the most favourite locality for renting apartments in 2015, Bayut.com, a UAE-based property portal, said in a report emailed to Emirates 24|7.

Average annual rents of studio apartments stood at Dh76,000 in 2015. On... more

Swapping apartments in Dubai… Can tenants do it?

Dec 21 ,2015, city : Dubai

“I have a two-bedroom apartment in the Gardens and I am looking for one bedroom. If you wish to exchange, please call…”

Such notices have been distributed in some buildings of the Gardens, a residential community, in Jebel Ali.

“Someone pushed in the apartment swap notice last week. A... more

Seeking buyers, Dubai developers guarantee 8-10% rental returns

Dec 20 ,2015, city : Dubai

After offering to pay the property registration fee, developers in Dubai are now offering guaranteed rental income plans to attract global investors.

Damac Properties, one of the largest private developers, is guaranteeing 24 per cent, or an eight per cent rental yield per year, for three years to their unit buyers.
... more

Damac offers 3-year rental guarantee amid Trump anti-Muslim furore

Dec 20 ,2015, city : Dubai

Damac Properties is offering a 24 percent rental guarantee over three years on some of its properties in an attempt to court investors.

The Dubai-based developer was earlier this month caught up in the controversy over US presidential hopeful Donald Trump’s proposal to ban Muslims from the United States.

... more

Dubai's forest homes project Ashjar '75% sold out'

Dec 19 ,2015, city : Dubai

Luxury developer Al Barari has announced that 75 percent of its Ashjar project in Dubai is sold out, with only 52 of the 203 homes remaining available.

Construction of the 13 low rise, low density buildings began in May and, with 36 percent of the project now complete, the first set of keys will be handed over in December 2... more

No drop in average Dubai property prices in November

Dec 18 ,2015, city : Dubai

Average property prices in Dubai showed no decline in November, the first month since the start of a market correction in March 2014, according to a new report.

The November ValuStrat Price Index (VPI) for Dubai's residential market showed that, on average, there was no monthly change in values across the 26 areas it mo... more

Abu Dhabi, Canada funds ink $3.15bn US property deal

Dec 18 ,2015, city : Abu Dhabi

A unit of the Abu Dhabi Investment Authority and the Public Sector Pension Investment Board, one of the largest Canadian pension investment managers, purchased 209 US industrial properties from Exeter Property Group for $3.15 billion.

The buildings have 58 million square feet (5.4 million square meters) of space and are loc... more

Top 10 Dubai residential areas of 2015: Where is the cheapest one-bed unit?

Dec 16 ,2015, city : Dubai

Jumeirah Park/Jumeirah Islands and Dubailand are the cheapest to rent one-bed apartments in Dubai’s top 10 neighbourhoods, says a new report.

The report, released by MoveSouq.com, a home services marketplace and propertyfinder.ae, a property portal, puts the average annual rents for one beds in the two areas at Dh63,0... more

Two-bed homes in Sharjah 50% cheaper than Dubai

Dec 14 ,2015, city : Dubai

Residential rents in Sharjah registered an annual decline of 1.6 per cent in the third quarter 2015 compared to the same period last year, the first time in two years, despite demand remaining strong for quality housing units, Cluttons said in Monday.

A comparison of the value table shows lease rates for two-bedroom units i... more

Dubai rents drop in Palm, Marina... rise in Jumeirah Village

Dec 14 ,2015, city : Dubai

The residential market in Dubai experienced further declines during the fourth quarter 2015, with sustained pressure on the transactional market reflected in the four per cent drop in sales rates and lower sales volumes, CBRE, global property consultancy, said in its Dubai Annual Market update report.

“With the actual... more

Dubai's Nakheel says to pay $59.8m to trade creditor sukuk

Dec 14 ,2015, city : Dubai

Dubai developer Nakheel on Monday said a profit payment of AED220 million ($59.8 million) on its trade creditor sukuk, following a similar payment in June.

The company, which overstretched itself during the emirate’s 2008 property crisis after building ambitious manmade island projects, said instructions have been sen... more

Dubai property prices set to fall further in 2016 as supply picks up

Dec 14 ,2015, city : Dubai

Dubai's residential market experienced further declines during the fourth quarter of 2015, with sales rates falling by 4 percent drop and lower sales volumes recorded, according to CBRE.

Its Dubai Annual Market Update Report said that average residential sales rates have fallen 16 percent and 14 percent year-on-year for... more

Dubai ‘kickstarts $3.2bn of stalled property schemes’

Dec 13 ,2015, city : Dubai

A total of 51 real estate projects valued at AED12 billion ($3.2 billion) have been resurrected under Dubai government-backed funding initiatives, it has been revealed.

The Dubai Land Department’s ‘Tayseer’ and ‘Tanmia’ initiatives were launched in 2010 and 2011, respectively, and aimed to secu... more

Trump's name restored at $6bn Dubai golf complex

Dec 13 ,2015, city : Dubai

A Dubai real estate firm has restored Donald Trump's name on a $6 billion golf complex it is building with the US businessman and presidential hopeful, days after taking it down following his proposal to ban Muslims from entering the United States.

Trump prompted an uproar when he made his comments in response to deadly... more

Dubai’s Palm Jumeirah set for LA-style ‘super villas’

Dec 13 ,2015, city : Dubai

Dubai’s Palm Jumeirah is set to see the introduction of lavish Los Angeles-style ‘super villas’, according to a leading property agent operating in the area.

Anne Ogilvie, Palm luxury sales specialist at Luxhabitat, said there are several European and Indian ultra high net worth individuals who make up a n... more

Dubai's Dh12 billion push revives 51 projects

Dec 13 ,2015, city : Dubai

Dubai has revived 51 projects worth Dh12 billion under its Tanmia initiatives since 2011, the Dubai Land Department said in a statement exclusively sent to Emirates 24|7.

Twelve new projects, worth Dh2 billion, were activated in the last one year.
 
This website had reported in October 2014 that 43 projec... more

Palm Jumeirah villas worth $255m sold in first nine months of 2015

Dec 12 ,2015, city : Dubai

The total value of transactions for Palm Jumeirah villas in Dubai reached AED938 million ($255.3 million) for 61 villas sold between January and October, according to data by REIDIN.

Analysis by Luxhabitat showed that prices per square feet have declined up to 16.4 percent over the past year, mirroring the rest of the Dubai... more

Abu Dhabi urged to address affordable homes shortage

Dec 11 ,2015, city : Abu Dhabi

The lack of affordable housing in Abu Dhabi provides a major opportunity for developers to fill the gap with 'genuine affordable' housing, according to real estate consultancy Cluttons.

Its Abu Dhabi 2015/16 Winter Property Market Snapshot said the growing problem of the lack of affordable housing in Abu Dhabi is &q... more

Damac removes Trump image, name from $6bn Dubai project

Dec 11 ,2015, city : Dubai

A Dubai real estate firm building a $6 billion golf complex with Donald Trump on Thursday stripped the property of his name and image amid a backlash over the US presidential candidate's proposal to ban all Muslims from entering the United States.

Trump triggered an international uproar when he made his comments in resp... more

Dh500,000 cheque to book unit in new tower in Dubai Opera

Dec 10 ,2015, city : Dubai

The launch price of apartments in The Address Residence Dubai Opera may range between Dh3,500 and Dh4,500 per square feet (psf), Emaar Properties-listed real estate agents told Emirates 24/7.

The prices are estimated to be the highest in 2015.

“Prices will range between Dh3,500 and Dh4,500 psf, with the... more

Work to commence on Mall of the World in 2017

Dec 9 ,2015, city : Dubai

Dubai Holding expects to commence work on the mega Mall of the World development in 2017 with all the expected approvals to come by late 2016.

“It is expected that work on the implementation of the project will begin after the completion of obtaining the necessary approvals from government agencies concerned which is ... more

Damac maintains tie-up with Trump Org.; Landmark withdraws items

Dec 9 ,2015, city : Dubai

Damac Properties, which is associated with the Trump brand in its multi-billion dollar Akoya Oxygen in Dubailand, will be maintaining its commercial tie up with the US-based Trump Organisation.

“We would like to stress that our agreement is with the Trump Organisation as one of the premium golf course operators in the... more

Aldar says to launch some of UAE's 'highest quality' homes in 2017

Dec 9 ,2015, city : Abu Dhabi

Aldar Properties, the Abu Dhabi-developer, is planning to deliver some of the "highest quality" homes in the UAE from 2017 to meet demand from buyers.

The company said in a construction update statement that it is making "strong progress" across its residential development projects.

Aldar ... more

Rents vs family incomes in Abu Dhabi: Case for affordable homes

Dec 9 ,2015, city : Abu Dhabi

Lack of ‘affordable’ residential units in Abu Dhabi are putting constraints on household budgets, as rents marginally surpass income of families, forcing them to move to peripheral locations.

In its Abu Dhabi 2015/16 Winter Property Market Snapshot, Cluttons, a real estate consultancy, said in order to truly tac... more

Dubai's Aladdin City to be ready in 2018

Dec 8 ,2015, city : Dubai

Work on Aladdin City, an iconic project inspired by the tales of Aladdin and Sindbad on Dubai Creek, will commence in the fourth quarter 2016 with completion slated for fourth quarter 2018, according to a news report.

The Dubai Municipality has shortlisted three companies - Arif & Bintoak Consulting Architects and Engin... more

Property sales drop nearly 50% in parts of Dubai since 2013

Dec 7 ,2015, city : Dubai

The number of residential property sales in some parts of Dubai have fallen by more than 40 percent in the last two years but there are recent signs of an uptick in the market, according to new data from Unitas Consultancy and Reidin.com.

The research found the number of house sales in Dubai Marina during the first nine mon... more

'Dubai: Follow the Money' property trail leads to Springs, Arabian Ranches

Dec 7 ,2015, city : Dubai

Contrary to popular perception, transaction activity in certain upscale Dubai villa communities climbed in the first nine months of 2015 as compared to the same period last year.

This is driven by lower property prices, according to a new report.

“A closer look into transactional activity in the villa s... more

'The Address' is now at Emaar's Dubai Opera district

Dec 6 ,2015, city : Dubai

The Dubai Opera district in Downtown Dubai is set to witness a new project, with Emaar Properties cashing in on its popular The Address brand.

The Dubai bourse-listed developer is planning to launch The Address Residence Dubai Opera on December 12, 2015, property agents told Emirates 24|7.

According to agents... more

Dubai's Damac inks deal to boost Chinese property sales

Dec 3 ,2015, city : Dubai

Dubai-based luxury real estate developer Damac Properties has announced a strategic collaboration with Qfang, one of China's biggest real estate and financial services companies as it looks to strengthen its sales operation in China.

The agreement is the second of its kind for Damac with a Chinese company specialised in... more

Indian developers sweeten property deals for NRIs in UAE

Dec 1 ,2015, city : Dubai

The real estate outlook for India is 'extremely bright' with the sector set to witness growth driven by new government initiatives, according to JLL, a global real estate consultancy.

“The outlook is extremely bright owing to several factors that are now playing out. Firstly, the economy is on an upswing, and ... more

Top 5 communities for tenants in Dubai

Dec 1 ,2015, city : Dubai

Rise in working population in Dubai is keeping rentals steady or even leading to an increase in some areas.

“While prices adjust to inflationary gains in the past, there has been no stopping the upward growth of Dubai’s rental segment. This has primarily been a result of a rise in working population that is dema... more