Latest Real Estate News in UAE

Dubai's Damac unveils new villas in Akoya Oxygen project

Dec 31 ,2016, city : Dubai

Damac Properties has unveiled Akoya Play, a collection of 3-bedroom villas in an international golf community set around a one-of-a-kind water park in Dubai.

Located at Akoya Oxygen master development, Akoya Play went on sale in Dubai on Wednesday, the developer said.

The new homes are priced at AED1,050,000 ... more

UAE's Azizi to press on with new projects after Dubai Land Dep't talks

Dec 30 ,2016, city : Dubai

UAE-based Azizi Developments on Thursday said it was to press on with plans to launch 50 new developments in 2017, which will comprise residential, commercial and retail space, following talks with Dubai Land Department.

The developer said in a statement that it discussed Dubai’s economic situation, the current market... more

Mirdif community comes of age with freehold development

Dec 29 ,2016, city : Dubai

Mirdif Hills is set to become one of the most popular residential communities in Dubai. The freehold mixed-use residential, commercial and retail development promises home owners a wide range of residential, shopping and services options when it is completed.

In recent years, reasonable rents and a growing volume of lifesty... more

Bids open for Bahrain's stalled Marina West project

Dec 28 ,2016, city : Dubai

A bidding process to acquire and complete Bahrain’s largest stalled real estate project, Marina West, has opened, according to local media.

Bahrain’s Committee for Stalled Real Estate Projects, which sits within the Justice, Islamic Affairs and Endowments Ministry, announced that interested buyers have until end... more

Damac to offer luxury car with apartment purchase

Dec 27 ,2016, city : Dubai

UAE developer Damac Properties said on Monday it is offering buyers a brand new BMW or other luxury car with the purchase of selected apartments during the Dubai Shopping Festival.

The festival runs from December 26 to January 28 2017, with a range of retailers offering product discounts and other deals.

Dama... more

Properties near key infra projects won't come cheap now. Here's why

Dec 26 ,2016, city : Dubai

When Mahdi Amjad, the founder, executive chairman and CEO of Omniyat, set up his property design, development and management company, Omniyat, in 2004, he knew nothing about Dubai’s ambitious plans to build a canal that would expand and connect the creek from one end of the city to the other. “I was looking at several opportun... more

Dubai developer inks deal for wellness inspired resort homes

Dec 26 ,2016, city : Dubai

A Dubai-based developer has announced a partnership with wellness real estate and technology firm Delos to introduce wellness inspired homes to the UAE over the next five years.

MAG Property Development said the first project to be carried out by the partnership will be the residences at MAG of Life Creek Resort,  the ... more

Mirdif Hills offers great options and facilities in the heart of Dubai

Dec 22 ,2016, city : Dubai

Mirdif Hills, currently the only freehold project in Mirdif, is a mixed-use residential, commercial and retail development. The development by Dubai Investments Real Estate Company (DIRC), includes 1,054 apartments, a 116-room hotel with 128 serviced apartments, 52 retail outlets and community recreation areas, spread across 3.9 million s... more

Dubai rents forecast to fall by further 4% over next 12 months

Dec 21 ,2016, city : Dubai

Dubai residential rents could fall by up to 4 percent in the next 12 months, according to the latest market outlook for 2017 from real estate outfit Core Savills.

Tenants in outer areas, such as Jumeirah Village and Dubailand, are expected to see rents drop by 2-4 percent as more new developments are delivered.

more

Dubai's Damac set to launch sales of new Akoya townhouses

Dec 21 ,2016, city : Dubai

Damac Properties has announced the launch of MOD, a collection of townhouses in the heart of international golf community Akoya Oxygen.

The developer said in a statement that the MOD townhouses will go on sale in Dubai on Wednesday, December 21, priced at AED595,000 with payment over three years.

It added tha... more

Can Dubai property investor penalise developer for delayed off-plan purchase?

Dec 15 ,2016, city : Dubai

I have invested in an off-plan property in Business Bay but its delivery is delayed by about three years. Can I penalise the developer in any way for breaching the contract? AS, Dubai

In theory, there should be no reason why you cannot file a case and hold the developer to task for not sticking to the clauses of the Sales a... more

Miral announces plans to develop SeaWorld on Yas Island

Dec 15 ,2016, city : Abu Dhabi

Miral and SeaWorld Entertainment today announced a partnership to develop SeaWorld Abu Dhabi, a first-of-its-kind marine life themed park on Yas Island.

This next generation SeaWorld Abu Dhabi will also include the UAE's first dedicated marine life research, rescue, rehabilitation and return centre with world-class faci... more

Abu Dhabi reintroduces 5% rent cap after three years

Dec 14 ,2016, city : Abu Dhabi

The emirate of Abu Dhabi reintroduced a 5 percent cap on annual rent increases on Tuesday in an effort to protect tenants from unjustified hikes, after abolishing the cap three years ago.

After 18 months of relatively stable conditions, real estate prices showed signs of declining in the three months to June 30 as low oil p... more

Dubai plans new 'star-ratings' version of rent index in 2018

Dec 13 ,2016, city : Dubai

Dubai Land Department (DLD) is likely to release the new version of the rent index after the completion of the building classification survey, a senior government official told Arabian Business.

Under the classification survey, each building in Dubai’s non-freehold and freehold communities will be given a star rating ... more

Omniyat plans $1bn project pipeline for 2017-18

Dec 13 ,2016, city : Dubai

Dubai-based developer Omniyat Group will announce an AED5 billion ($1.36 billion) project pipeline over 2017-18, including an ultra-luxury hospitality scheme on the new Dubai Water Canal, according to the company’s founder.

The new projects will swell Omniyat’s already substantial Dubai portfolio, which comprise... more

Sharjah rents fall for second year in row, still 30% higher than 2012

Dec 13 ,2016, city : Sharjah

Rents in Sharjah’s residential and commercial property markets have fallen for a second year in a row, increasing tenancy options in the emirate, according to real estate consultancy Cluttons.

The Cluttons Winter 2016/2017 Sharjah Property Market Snapshot said tenants who are looking to get more for their money are mo... more

Abu Dhabi developer completes ‘phase three’ of Bloom Gardens project near Khalifa Park

Dec 12 ,2016, city : Abu Dhabi

Bloom Properties has completed the third phase of its Bloom Gardens development near Khalifa Park in Abu Dhabi.

Bloom said on Sunday that it had completed construction work on the 147 villas and town houses ahead of a scheduled handover in the first three months of next year.

Bloom, part of the Abu Dhabi cong... more

Dubai affordable homes developer says 50% of phase 2 sold in a week

Dec 10 ,2016, city : Dubai

Developers behind a $190.5 million affordable housing project in Dubai have announced that 50 percent of its second phase of homes have been sold within a week.

MAG 5 Property Development, a real-estate company formed jointly by MAG Property Development and MBM Holding, announced the sales success for its MAG 5 Boulevard pr... more

Bahrain developer says 50% of Al Qamra plots sold on launch day

Dec 10 ,2016, city : Dubai

Developer Diyar Al Muharraq has announced that 50 percent of  Al Qamra freehold residential plots were sold on the launch day of the second and final phase of the project Bahrain.

The launch followed the successful sale of the first phase which witnessed "tremendous public response".

The second... more

Building of hotels, resorts in Dubai's 'Heart of Europe' to commence soon

Dec 9 ,2016, city : Dubai

Dubai: The European company developing a cluster of islands that will feature luxury floating villas and bring snow and rain to The World, just off the coast of Dubai, has signed Dh4.8 billion contracts to kick start construction work.
Kleindienst announced on Wednesday the appointment of three companies to immediately start buildi... more

Popular Dubai villa districts see price rise in November

Dec 9 ,2016, city : Dubai

Several villa-dominated areas of Dubai, popular with expats, recorded property price rises in November following months of declines seen across most of the emirate's real estate market, a new report has said.

The November ValuStrat Price Index (VPI) saw no general change in value for most locations monitored by the inde... more

The Dh146m Emirates Hills family home for the elite

Dec 8 ,2016, city : Dubai

It’s pretty clear that 2016 hasn’t been the greatest year for the prime end of Dubai’s luxury property market. As Cluttons recently pointed out when issuing its third-quarter report, economic uncertainty and job losses in well-paid industries such as banking and finance have meant demand for luxury property - either to b... more

Dubai's IMG Worlds unveils newest theme park 'IMG Worlds of Legends'

Dec 8 ,2016, city : Dubai

IMG Worlds, Dubai-based owner and operator of the world’s largest indoor theme park, IMG Worlds of Adventure, announces the launch of its latest project, IMG Worlds of Legends.

With nine unique zones spread across over 2 million square feet, IMG Worlds of Legends will feature some of the most exciting and popular bran... more

Alabbar says Dubai developer Emaar to 'tighten its belt' next year

Dec 8 ,2016, city : Dubai

The boss of Dubai's Emaar Properties has announced that the developer is set to "tighten its belt" next year as the emirate's property market continues to stabilise, it was reported on Wednesday.

Bloomberg quoted company chairman Mohamed Alabbar as saying that Dubai’s real estate market will see a &l... more

UAE's Aldar allows foreigners to buy villas in West Yas project

Dec 8 ,2016, city : Dubai

Abu Dhabi’s Aldar Properties has said it is allowing foreign nationals to buy properties in West Yas development after initially restricting to Emiratis.

The community on Yas Island comprises 1,000 villas, with prices starting from $1.17 million (AED4.3 million).

“We are delighted to open up West ... more

Work on Dubai's tallest tower in Jumeirah Beach Walk starts

Dec 7 ,2016, city : Dubai

Dubai: The construction of another one of Dubai’s iconic developments - the tallest tower on the beach - has already started.
The 303-metre high structure, which promises to offer sweeping views of the Arabian Gulf and Dubai Marina, will rise at the end of the Jumeirah Beach Walk. It will feature a lounge at the top level and... more

Newer Dubai districts said to offer among best yields in the world

Dec 7 ,2016, city : Dubai

Some of Dubai’s newer freehold districts are offering property investors among the highest yields in the world despite a difficult 2016 for the emirate’s rental and sales markets, according to a new report by Propertyfinder Group.

The report also revealed that apartments in most of propertyfinder’s top 20 ... more

Dubai real estate regulator announces new system to regulate real estate marketing

Dec 6 ,2016, city : Dubai

The Real Estate Regulatory Agency, the regulatory arm of Dubai Land Department, affirmed that a Real Estate Marketing Agreement is mandatory between owners and real estate brokers which will result in the issuance of permits through its e-service system.

There must be a written agreement in which property owners authorise r... more

Dubai property giants chase Indian investors at Mumbai show

Dec 6 ,2016, city : Dubai

Dubai property giants are heading to Mumbai, India, for the second edition of Dubai Property Show as they seek to attract growing numbers of Indian investors.

Organised by Sumansa Exhibitions in partnership with Dubai Land Department, the real estate exhibition will kick off on Friday and runs until Sunday.

A... more

Abu Dhabi property market softens further in Q3 after Trump vote

Dec 6 ,2016, city : Abu Dhabi

The current "wait and see" attitude that has been adopted by potential home buyers in Abu Dhabi is a direct result of wider global economic trends, and economic uncertainty caused by the recent US presidential election, according to real estate consultancy Cluttons.

According to findings in the Cluttons Abu Dhabi ... more

Dubai's Deyaar offers 'guaranteed' returns on Business Bay project

Dec 6 ,2016, city : Dubai

Dubai Financial Market-listed Deyaar Development is offering guaranteed returns of 14 percent for a period of two year, or seven percent per annum, on its under-construction project in Business Bay, it said on Sunday.

The returns are being offered to investors buying into The Atria, a 30-storey residential tower and four-st... more

Dubai developer Deyaar looks to pull in buyers with offer of guaranteed returns

Dec 5 ,2016, city : Dubai

Dubai-based developer Deyaar has guaranteed annual returns of 7 per cent over two years to investors on one of its Dubai projects.

It made the pledge on its serviced apartments in The Atria – a 30-storey tower in Business Bay – which will be managed by Millennium & Copthorne Hotels when the building complete... more

Dubai cracks down on rogue property agents

Dec 5 ,2016, city : Dubai

Dubai is attempting to crack down on rogue estate agents who put up advertisements for properties on which they have not been instructed to promote in an attempt to get a cut of the fees.

In an announcement yesterday, the Real Estate Regulatory Agency (Rera), the regulatory arm of Dubai Land Department, said that brokers wi... more

Dubai issues new property marketing regulations for real estate agents

Dec 5 ,2016, city : Dubai

Real estate agents in Dubai will not be allowed to market any property unless they sign a written agreement with unit owners, according to Dubai Land Department.

“Form A” – a contract between property owner and real estate broker – has to be signed by both parties which then allows the latter to mark... more

Bahrain developer launches final phase of Al Qamra freehold plots

Dec 2 ,2016, city : Dubai

Developer Diyar Al Muharraq has announced the launch of the second and final phase of Al Qamra freehold residential plots in Bahrain.

The launch follows the successful sale of the first phase which witnessed "tremendous public response", the developer said in a statement.

The second phase of Al Qamr... more

Developer starts construction of Oman community townhouses

Dec 2 ,2016, city : Dubai

Alargan International Real Estate Company has started construction of 46 new townhouses in its Telal Al Qurm community project in Muscat.

The townhouses are the fourth component of the overall Telal Al Qurm community, a residential and commercial district consisting of 164,900 square metres of land located on the edge of th... more

Confidence among Bahrain developers rising, says CBRE

Dec 2 ,2016, city : Dubai

Bahrain's construction sector is showing "robust" growth, with confidence among developers in the market rising, according to a new report by CBRE.

Its Q3 20916 Bahrain MarketView said the government is heavily funding infrastructure projects, while real estate transactions have increased by 11 percent in the ... more

Ras Al Khaimah swings back into full development mode

Dec 1 ,2016, city : Dubai

Dubai: Ras Al Khaimah’s real estate market is getting back into full development mode … and its leading developer is right in the thick of action. Rak Properties has confirmed it will flag off an estimated Dh5 billion mixed-use project within its Dh10 billion Mina Al Arab master-development next year.
“We are now... more

Does Abu Dhabi tenant made redundant have to pay rental penalty for moving out early?

Dec 1 ,2016, city : Abu Dhabi

I have had my job terminated by my company in Abu Dhabi and therefore did not give a two-month notice to my landlord due to the sudden situation. Now the manager of the apartment is asking me to vacate when the contract finishes and pay a two-month penalty. Do I have any rights if my job has been terminated? IB, Abu Dhabi

I... more