Latest Real Estate News in UAE

Dubai residential prices show positive signs in January

Feb 17 ,2017, city : Dubai

Residential property prices in some communities in Dubai have begun to show positive month-on-month change for the first time in 12 months, new research reveals.

Areas including Al Furjan, Discovery Gardens and Dubai Silicon Oasis showed modest increases of between 0.0 percent and 0.12 percent for the month of January, acco... more

Dubai property market to gather pace as Expo 2020 approaches

Feb 17 ,2017, city : Dubai

Dubai's residential property market is expected to perform “better” as Dubai Expo 2020 nears although prices and rents will decline between 5 and 10 percent this year, according to S&P Global Ratings.

In January, Expo 2020 Dubai said it will award 47 construction contracts worth $3 billion (AED11 billion... more

Average Abu Dhabi rents forecast to decline further in 2017

Feb 17 ,2017, city : Abu Dhabi

Average rental rates in Abu Dhabi for apartments and villas fell by 7 percent and 5 percent respectively during 2016 and are expected to soften further in 2017, according to real estate consultancy Asteco.

Its Abu Dhabi Real Estate Report Q4 2016 report said the decline will be exacerbated by new supply to the market this y... more

Dubai's Nakheel unveils new $231m Ibn Battuta project

Feb 16 ,2017, city : Dubai

Developer Nakheel said on Wednesday it has begun work on a new 55-storey residential tower, 16-screen cinema complex, multi-storey car park and retail expansion at Ibn Battuta Mall in Dubai.

Nakheel said in a statement that has awarded a contract o Dubai-based National Gulf Constructions for enabling works at the site, loca... more

Dubai property prices near 2014 peak: report

Feb 16 ,2017, city : Dubai

Property prices in two residential areas of Dubai are now less than 5 percent below their peak in 2014 as values edges upwards, according to a new report.

Real estate consultancy ValuStrat said values in Motor City are now being recorded at only 3.2 percent below peak, followed by Dubai Production City at 4.5 percent below ... more

Dubai set to launch 'unified' rental lease in March

Feb 16 ,2017, city : Dubai

All tenancy agreements in Dubai will be issued in connection with registration body Ejari from March to increase transparency in the market, Dubai Land Department (DLD) announced on Wednesday.

At present, the statutory Dubai lease is issued separately from the Ejari system and tenants are obliged to register their contract ... more

DLD, Nasdaq Dubai sign MoU to facilitate real estate-related listings

Feb 15 ,2017, city : Dubai

The Dubai Land Department and Nasdaq Dubai have signed a Memorandum of Understanding (MoU) that will help real estate companies that are considering listing on the stock exchange.

The MoU will see the two entities collaborate in order to facilitate the listing of companies that are active in the real estate sector as well a... more

Dubai's Emaar says to reopen fire-hit Address hotel by year-end

Feb 15 ,2017, city : Dubai

Dubai's Emaar Properties intends to reopen its landmark Address Downtown hotel by the end of the year, some two years after the skyscraper was gutted by fire following an electrical fault, its chairman told Al-Arabiya TV on Tuesday.

Mohammed Alabbar was speaking after the developer reported a 56 percent rise in fourth-q... more

Buyers want more for their money, says Damac

Feb 15 ,2017, city : Dubai

Dubai luxury developer Damac said the current property market conditions have led to buyers seeking better value.

Dubai's Damac Properties reported a 1.3 percent rise in its fourth-quarter net profit on Tuesday, according to Reuters calculations.

The developer reported a net profit of 854.6 million dirham... more

Aldar Properties expects lower 2017 sales after flat Q4 profit

Feb 15 ,2017, city : Dubai

Aldar Properties expects lower sales in 2017, its chief financial officer said on Tuesday after the builder of Abu Dhabi’s Formula One circuit reported flat fourth-quarter profit.

Net attributable profit fell to 727.9 million dirhams ($198.2 million) for the three months to Dec. 31 from 734.6 million a year earlier, R... more

Property supply glut could give Dubai tenants upper hand in 2017

Feb 14 ,2017, city : Dubai

Tenants in Dubai could have the upper hand when negotiating rental rates thanks to a significant amount of stock coming to the market in 2017, according to real estate consultancy Asteco.

Its new report said there are 31,500 apartments and 12,500 villas and townhouses scheduled to be delivered this year in areas including C... more

Abu Dhabi residential rents forecast to fall further in Q1

Feb 14 ,2017, city : Abu Dhabi

Rents in Abu Dhabi will be under pressure in the first quarter 2017 due to economic uncertainties and redundancies due to shrinkage of the oil and gas sector, according to Chestertons.

The consultancy said on Sunday average apartment rents have fallen by seven percent in 2016, while villa rents fell 10 percent.

more

Eric and Donald Trump Jr to attend Dubai golf club launch

Feb 13 ,2017, city : Dubai

US President Donald Trump’s two sons Eric and Donald Jr are set to attend the launch of The Trump International Golf Club in Dubai this month as guests of honour, it has emerged.

It has yet to be confirmed whether the sons will formally launch the facility, a spokesperson for the club told Arabian Business.
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Dubai office market forecast to pick up in 2017

Feb 10 ,2017, city : Dubai

The commercial property market in Dubai is expected to pick up in 2017 as businesses settle to the new norm in oil prices, according to Knight Frank.

The real estate consultancy said blue-chip occupiers who had put real estate decisions and plans on hold in 2016 are now planning for a more active business cycle.

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Dubai's Nakheel to restart work on waterfront project

Feb 10 ,2017, city : Dubai

Dubai-based Nakheel will recommence work on Madinat Al Arab, a 522 hectare site, in Jebel Ali by using the infrastructure construction tender in second quarter 2017.

The project was listed in the company’s long-term plans when it announced its restructuring strategy.

Madinat Al Arab spans five zones and... more

Danube Properties says 95% of 'Miraclz' project sold

Feb 9 ,2017, city : Dubai

Danube Properties has announced that 95 percent of the recently launched Miraclz project has been sold.

The $109m (AED400m) ‘Miraclz’ tower, located at Dubai’s Arjaan neighbourhood close to Miracle Garden, has of 591 apartment units ranging from studio to two bedroom apartments. Each unit where each home i... more

Property developer eyes growth in Europe, US instead, says founder PNC Menon

Feb 9 ,2017, city : Dubai

Dubai developer Sobha Group has ruled out expansion elsewhere in the GCC but plans to be in “one other non-Middle Eastern, non-Asian territory by 2020”, its founder and chairman told Arabian Business.

Indian-born PNC Menon said “a lot of opportunities” had arisen to expand the company outside the UAE... more

Abu Dhabi looks for spark in residential sector

Feb 8 ,2017, city : Abu Dhabi

Abu Dhabi’s real estate market witnessed a continued slowdown last year, triggered by the decline in oil prices and subsequent impact on government spending, and consolidation of businesses across various sectors. Against this backdrop of macroeconomic uncertainty, landlords have come under increasing pressure as tenants look for mo... more

UAE gets its first Sharia-compliant residential Reit

Feb 7 ,2017, city : Dubai

Equitativa Limited on Sunday launched the first Sharia-compliant residential real estate investment trust (Reit) in the UAE with a seed portfolio of $113.89 million (AED418 million).

The company floated Emirates Reit, the first Reit in the country, in 2014. It is listed on Nasdaq Dubai with $763m (AED2.8 billion) portfolio ... more

Last plot of land in Dubai's JBR to get $272m luxury tower

Feb 6 ,2017, city : Dubai

Dubai Properties on Sunday awarded the main construction contract for the $272 million (AED1 billion) 1/JBR, a 46-storey luxury tower which is slated for completion in the fourth quarter 2019.

The contract was given to Dubai Contracting Company, but not value was disclosed. The enabling work on the 46-storey tower– be... more

Abu Dhabi villa prices seen falling by at least 15% in 2017

Feb 3 ,2017, city : Abu Dhabi

Prime and mid-prime villa values in Abu Dhabi are anticipated to fall by at least 15 percent this year while apartment prices are set to drop by 7 percent, according to a new report.

Real estate firm Core Savills said the 2017 drop in values would be close to 2016 levels as similar market conditions persist.

... more

Average Abu Dhabi office rents forecast to slump 15% in 2017

Feb 2 ,2017, city : Dubai

Grade A and B office rents in Abu Dhabi are expected to fall by at least 10-15 percent during 2017 in the wake of continued contraction in demand, according to real estate firm Core Savills.

Its latest report said that despite lower demand from blue chips and large corporates, the current lack of prime Grade A+ office stock... more

DED launches Buyer Protection Programme to promote trade with India

Feb 1 ,2017, city : Dubai


To improve Dubai’s bilateral trade relations with India and protect the interests of traders who import products from Dubai Emirate, the Department of Economic Development, DED, has launched a ‘Buyer Protection Programme.' Dubai Exports, the depatment's promotion agency, launched the initiative, designed by the... more