Latest Real Estate News in UAE
Jan 31 ,2016, city : Dubai
Three UAE developers have agreed a deal to create a new real estate company in Sharjah.
The Sharjah Investment and Development Authority (Shurooq) on Saturday signed a joint venture agreement with Dubai’s Emaar Properties and Abu Dhabi’s Eagle Hills, to set up a new body called Omran Properties.
U... more
Jan 31 ,2016, city : Dubai
The head of Damac has threatened to “go on TV naked and resign” if the worst predictions about Dubai’s property market are realised this year.
Ziad El Chaar, the Dubai developer’s managing director, made the comment in an interview with the Sunday Times.
Damac is one of the emirate&rsq... more
Jan 30 ,2016, city : Dubai
Global Student Accommodation Group (GSA) has announced the launch of Uninest Student Residences in Dubai to meet the growing demand for dedicated student accommodation in one of the world’s fastest growing higher education hubs.
Offering the first non-campus, student residential building in the emirate, Uninest Reside... more
Jan 30 ,2016, city : Dubai
Aldar Properties has announced the activation of a AED3 billion ($816.7 million) investment programme in a bid to drive growth within its recurring revenue business.
The Abu Dhabi developer said it has acquired Daman House, a commercial office building in Capital Centre Abu Dhabi which is fully leased on a long-term contrac... more
Jan 28 ,2016, city : Dubai
Residents living in a residential building in Dubai Marina were evacuated on Thursday after a fire broke out, it has been reported.
According to a spokesperson from the Dubai Civil Defence, the blaze, which started at around 3pm local time, has been extinguished and caused by a faulty generator.
According to ... more
Jan 27 ,2016, city : Dubai
An estimated 70 percent of the UAE’s pipeline real estate schemes scheduled for completion in 2016 will fail to be delivered on time, according to consultancy JLL.
A combination of factors including contractual disputes, financing delays, licensing and approval delays and developers holding back plans as market condit... more
Jan 26 ,2016, city : Dubai
A majority of affordable housing developments in Dubai are offering the best rental returns to investors.
# Discovery Gardens
Topping the list, released by property consultancy Land Sterling, is Discovery Gardens, a master community off Sheikh Zayed Road.
Gross rent... more
Jan 26 ,2016, city : Dubai
Dubai's Deyaar Development reported a 14 percent rise in fourth-quarter net profit on Tuesday.
The company made a profit of 101.5 million dirhams ($27.63 million) in the three months to Dec. 31, Reuters calculated based on its annual financial statement in lieu of a quarterly breakdown.
This compares with... more
Jan 26 ,2016, city : Dubai
Indian actor Anil Kapoor has bought a number of properties in Dubai, it was reported on Tuesday.
The 59-year-old, who has appeared in numerous Bollywood movies and western blockbusters such as ‘Slumdog Millionaire’ and ‘Mission: Impossible – Ghost Protocol’ with Tom Cruise, has reportedly bough... more
Jan 25 ,2016, city : Dubai
Dubai-based real estate developer Nakheel will showcase $4.6 billion worth of construction projects at this week’s Dubai Property Show in Hong Kong.
The exhibition, which opens on Thursday January 28 next at the Hong Kong Convention and Exhibition Centre, is being organised by Sumansa Exhibitions in association with t... more
Jan 25 ,2016, city : Dubai
Jumeirah Group has signed an agreement with Select Group to manage 508 properties within Marina Gate, their flagship residential development at the gateway to Dubai Marina.
Jumeirah will bring its luxury hospitality experience to the third and final tower within the Marina Gate development under its Jumeirah Living brand. more
Jan 25 ,2016, city : Dubai
Dubai-based real estate developer Nakheel is heading east to showcase new projects with construction values of over $4.6 billion at the Dubai Property Show in Hong Kong this week.
Nakheel, whose projects already span more than 15,000 hectares and provide homes for over 200,000 people, is the biggest developer at the show, w... more
Jan 25 ,2016, city : Dubai
Developers in Dubai are going ahead with their announced projects despite the real estate market showing signs of sluggishness.
Reports from various global and local property point to slowing down of sales and price declines this year, but real estate developers have dismissed such claims and are confident of the success of... more
Jan 24 ,2016, city : Dubai
In 2016, Dubai will witness the completion of Marina 101 and The Address Residences The BVLD – allowing the emirate to continue to enjoy the distinction of being one of the cities in the world where the tallest and most iconic towers stand.
The above two towers are on a list of the global top 10 tallest towers to be c... more
Jan 23 ,2016, city : Dubai
UAE-based real estate website Bayut.com has announced that it has closed a $20 million Series C venture round, four months after its Series B funding that added $9 million to its finances.
The funding comes from one of Bayut’s current investors, a fund which focuses on frontier and emerging markets with over $1 billio... more
Jan 23 ,2016, city : Dubai
Average residential property prices fell 10 percent during 2015 and and set to drop further this year, according to a new report by Deloitte.
Its annual Real Estate Predictions Report for Dubai also said that while published pipeline forecasts estimate that some 40,000 units will be delivered in 2016, Deloitte suggested tha... more
Jan 22 ,2016, city : Dubai
Emaar Properties has announced plans for the local and international sales launch of the luxury Harbour Views homes in The Island District in Dubai Creek Harbour, a 6 sq km development set by Dubai Creek.
The launch will be held in Dubai, New Delhi and Karachi on Saturday, and in Mumbai on Sunday, the company said in a stat... more
Jan 21 ,2016, city : Dubai
A partnership between Dubai’s sovereign wealth fund and Brookfield Property Partners opted not to pursue 2012 plans to create a $500 million-plus fund to invest in distressed real estate assets because there were no viable opportunities, according to one of its chairmen.
Investment Corporation of Dubai (ICD) entered i... more
Jan 21 ,2016, city : Dubai
The smart city project in Kochi in Kerala, India, will be inaugurated on February 20.
The announcement comes days after the Smart City board met in Dubai to decide the dates and the attendee list.
SmartCity Kochi is an initiative by Dubai-based Tecom, in association with the Government of Kerala. The project,... more
Jan 20 ,2016, city : Dubai
Investment Corporation of Dubai (ICD), the investment arm of the Dubai government, and Canada’s Brookfield Property Partners broke ground on Dh3.67 billion ($1 billion) ICD Brookfield Place, an office and retail development in the Dubai International Financial Centre (DIFC) on Wednesday.
Mohammed Al Shaibani, Executiv... more
Jan 19 ,2016, city : Abu Dhabi
Aldar Properties, Abu Dhabi-listed company, has acquired Daman House, a commercial office building, in Capital Centre Abu Dhabi under its Dh3 billion investment plan.
The tower comprises 23,000 square metres gross leasable area (GLA) of Grade A commercial space, fully leased on a long-term contract to a single government re... more
Jan 19 ,2016, city : Dubai
Indians topped a list of non-GCC buyers of Dubai real estate last year with AED20 billion ($5 billion) of transactions, followed by Brits with $10 billion, according to new data from the Dubai Land Department (DLD).
However, GCC nationals were responsible for almost one-third of transactions (AED44 billion) and Emiratis acc... more
Jan 19 ,2016, city : Dubai
Dubai’s biggest landlord has a message for the city’s developers: get ready to rethink your budgets and building plans repeatedly this year or be engulfed by a topsy- turvy market.
Companies need to be “more agile to sustain their businesses and survive the tough period ahead,” said Hesham Al Qassim,... more
Jan 19 ,2016, city : Dubai
Indians have topped the list of expatriate real estate buyers in Dubai with investments of Dh20 billion alone in 2015, Dubai Land Department (DLD) data reveals.
Data analysed by Emirates 24|7 reveals that total investment by Indians went up by over 10 per cent from Dh18.123 billion reported in 2014.
more
Jan 18 ,2016, city : Dubai
Two of Dubai’s biggest developers - Emaar Properties and Damac Properties - have unveiled their first projects for 2016.
Emaar will kick off the sales for its first 2016 project - Harbour Views- residences in The Island District of Dubai Creek Harbour on January 23.
The launch will be held in Duba... more
Jan 17 ,2016, city : Dubai
Austrian developer Kleindienst Group is close to completing the first of its signature floating villas, to be incorporated in its planned ‘Heart of Europe’ resort at Dubai’s The World islands.
On Thursday, the company sent an email inviting prospective investors and other interested parties to view the fir... more
Jan 16 ,2016, city : Dubai
Residential property prices in Dubai continued to fall during the fourth quarter of 2015, according to a new report.
Phidar Advisory's Q4 Dubai residential research note said apartment sales prices declined by 12.7 percent during 2015, while lease rates decreased by 1.9 percent.
Lease rates for villas dec... more
Jan 15 ,2016, city : Dubai
Dubai Land Department has announced that the total value of real estate transactions in Dubai exceeded AED267 billion ($72.7 billion) during 2015, a 22 percent jump on the previous year.
Its annual report showed that the deal value rose by AED49 billion and that there were a total of 63,719 transactions registered last year... more
Jan 14 ,2016, city : Dubai
The opening of the new Sheikh Zayed Road flyover and an announcement of a federal road that will link the emirate with Abu Dhabi and the northern emirates spells relief for the rush hour commuter.
Emirates 24|7 steers through the mega projects that will put the brakes on traffic in the upcoming years:
more
Jan 13 ,2016, city : Dubai
Dubai's commercial property market saw the delivery of 700,000 sq m of new office space in 2015, increasing the total stock to 8.3 million sq m, according to a new report.
JLL's annual review of the UAE Real Estate Market for 2015 said 26 percent of new offices was delivered in Business Bay, followed by the new Duba... more
Jan 13 ,2016, city : Dubai
The Investment Corporation of Dubai (ICD) and Canada’s Brookfield will formally launch their first project in Dubai on January 20, 2016, which will also be the first mega project to be launched in 2016.
The 50-storey office and hotel tower will come up on Al Sa’ada Street behind Ritz Carlton Dubai International ... more
Jan 12 ,2016, city : Abu Dhabi
Developers for Reem Mall in Abu Dhabi today announced that the $1 billion project has been granted detailed planning approval by the Abu Dhabi Urban Planning Council (UPC).
The UPC’s granting of detailed planning approval comes only six months after the mall’s concept plans were approved.
Shane El... more
Jan 12 ,2016, city : Sharjah
Residents of some apartment blocks in Sharjah are facing rent increases upon renewal of their contracts.
Some who have renewed their rent contracts this month have reported hikes of up to 17 per cent.
“My rent has been increased by 16.7 per cent for this year.
“Now, I will have to p... more
Jan 12 ,2016, city : Dubai
Dubai Civil Defence (DCD) is to conduct a major review of all buildings in the UAE to establish the fire safety risk each poses, its director of preventive safety has announced.
Building owners across the emirates are to be notified in the coming days of the substantial project to be undertaken by DCD.
Proper... more
Jan 12 ,2016, city : Dubai
Just 8,000 residential units were completed in Dubai and Abu Dhabi in 2015, less than half the number in the previous year as developers responded to more subdued market conditions, a new report has said.
JLL's annual review of the UAE Real Estate Market for 2015 said developers in the UAE have also been hit by tightene... more
Jan 11 ,2016, city : Dubai
Dubai Property Show, an international real estate event from the UAE, will embark on the silk route to attract Chinese investors to one of the world’s most lucrative markets in the Middle East.
The property show, which has met with resounding success in London and Mumbai, will be held in Hong Kong Convention and Exhib... more
Jan 11 ,2016, city : Dubai
Average rents in upmarket neighbourhoods in Dubai plummeted by up to 12 percent last year, according to a new analysis of rental figures based on price per square foot.
Rents in Arabian Ranches and Jumeirah Beach Residence (JBR) dropped by 12 percent over the past year, while rents in areas such as Dubai Marina and the Palm... more
Jan 11 ,2016, city : Dubai
Real estate agents in Dubai have indicated a subdued end to 2015 for the Dubai property market, with nearly half expecting a further fall in values during this year.
A majority of respondents to the Emirates NBD Real Estate Tracker noted declines in new buyer enquiries and transaction numbers over the three months to Decemb... more
Jan 11 ,2016, city : Dubai
UAE-based Propertyfinder Group has raised $20 million in growth capital from the Sweden-listed investment company, Vostok New Ventures Ltd, a transaction that values the company at $200 million.
The funding represents one of the largest investments in the region's emerging technology sector, the company said in a statem... more
Jan 11 ,2016, city : Abu Dhabi
Abu Dhabi's Aldar Properties has awarded a AED2 billion ($544.5 million) contract to Dubai's Arabtec to build 1,017 luxury villas in the United Arab Emirates capital, Aldar said on Monday.
The villas are expected to be handed over to owners at the end of 2017, Aldar said in a statement to Abu Dhabi's bourse.
more
Jan 10 ,2016, city : Dubai
The total value of real estate transactions in Dubai jumped 22.5 per cent to Dh267 billion in 2015 compared to Dh218 billion in 2014, with the industry becoming more 'innovative and mature', according to the Dubai Land Department (DLD).
“The reports issued by our experts assure that the Dubai market has reache... more
Jan 8 ,2016, city : Dubai
Dubai developer wasl properties has announced the launch of wasl Duet in Karama, part of the company's plan to regenerate older districts of the city.
The first building in the two-building mixed-use project was launched this week, with the second due to be released onto the market imminently, the company said.
<... more
Jan 7 ,2016, city : Dubai
The 15th December ValuStrat Price Index (VPI) for Dubai's residential market has shown that, on average, there was no significant monthly change in values across the 26 areas it monitors for apartments and villas.
The December VPI registered 97.9 index points, with no significant change in values when compared to the pr... more
Jan 7 ,2016, city : Dubai
The major cities of the Middle East – Doha and Dubai – remain some of the least expensive
cities in the world in which to build, according to the International Construction Costs Index published by Arcadis, the leading global Design & Consultancy firm for natural and built assets.
Regionally, Doha is ... more
Jan 7 ,2016, city : Dubai
A Dubai-based developer has purchased the High Holborn Estate in London for £136 million ($198 million), it has emerged.
SRG Holding, a subsidiary of Abdulsalam Al Rafi Group, acquired the property from US private equity firm Blackstone on December 22, SRG Holding’s chairman said.
The nine-buildin... more
Jan 6 ,2016, city : Abu Dhabi
Government investment funds in Abu Dhabi and Qatar, as well as in Azerbaijan, have invested a combined $380 million in three different properties in Milan.
Wall Street Journal reported that Abu Dhabi Investment Authority has agreed to buy a 1960s building in the north Italian city, which the newspaper said will be demolishe... more
Jan 6 ,2016, city : Dubai
Average property prices in Dubai held steady in December for the second month running since the start of a market correction in mid-2014, according to a new report.
The December ValuStrat Price Index (VPI) for Dubai's residential market showed that, on average, there was no monthly change in values across the 26 areas i... more
Jan 5 ,2016, city : Dubai
Owners Associations (OAs) in Dubai are informing residents not to smoke shisha or have BBQ in their balconies, post The Address Hotel Downtown fire incident.
An OA of a tower in Tecom issued a notice on Tuesday stating: “Following the fire at The Address Hotel on December 31, 2015, we write on behalf of the owne... more
Jan 5 ,2016, city : Dubai
The official rental index for Dubai has been updated for 2016, with one- and two-bedroom apartments showing a decrease in prices across much of the emirate.
According to the new price brackets suggested by the Real Estate Regulatory Authority (RERA), rents for one-bedroom flats have dropped by between 4.55 percent and 11 pe... more
Jan 4 ,2016, city : Dubai
Rents of two-bedroom apartments in International City have declined by 7.69 per cent to 10 per cent for 2016 compared with 2015, an Emirates 24|7 analysis of the latest update of Dubai’s official rent index shows.
Leases for two-bedroom apartments range between Dh45,000 and Dh60,000 per annum (pa) as ... more
Jan 4 ,2016, city : Dubai
A Saudi Arabian-based conglomerate has announced the launch of its first luxury residential real estate project in the UAE.
ARTAR Real Estate Development, the property development arm of Abdul Rahman Saad Al-Rashid & Sons Co, has unveiled plans to build Mada Residences in Downtown Dubai.
It said in a stat... more
Jan 4 ,2016, city : Dubai
Middle East stock markets were mixed in quiet trade on Sunday with Dubai falling as Emaar Properties was sold after a fire at one of its luxury hotels. The Saudi Arabian and Egyptian markets gained, supported by large-cap bank stocks.
Emaar shares slid in heavy, early trade after its Address Downtown hotel in Dubai was engu... more
Jan 4 ,2016, city : Dubai
The official rent index of Dubai has been updated for 2016 and a data comparison done by Emirates 24|7 for one-bedroom apartments across the emirate’s freehold communities reveals rents are down by up to 11 per cent.
The new rent index, which this website reported will be updated only once a year, puts decline of 4.55... more
Jan 3 ,2016, city : Dubai
All of the top 10 costliest villa transactions in Dubai took place in Emirates Hills, with the biggest deal being worth Dh93 million, data shared by Reidin.com with 'Emirates24|7' reveals.
Done in July 2015, the buyer paid Dh93 million for a 22,792 square feet property. The average price square foot being Dh4,080. more
Jan 3 ,2016, city : Dubai
Luxury real estate developer Damac Properties is offering new buyers a 2016 Lamborghini or BMW when they purchase a from a select range of villas or apartments in Dubai, part of its promotions to mark the start of the month-long Dubai Shopping Festival (DSF).
With property prices starting from $188,000 (AED692,000), Damac P... more
Jan 3 ,2016, city : Dubai
Emaar Properties has appointed a contractor to carry out the restoration work on the blaze-hit The Address Downtown and reopen the hotel in “in record time”.
Dutco Group, which is currently working on the adjacent expansion of The Dubai Mall, is already on site at The Address Downtown with a team of internationa... more
Jan 3 ,2016, city : Dubai
Shares in Emaar Properties tumbled on Sunday after a large fire at one of its hotels, but the stock came off its lows as Dubai's leading real estate developer said it expected the disaster to have no material impact on its finances.
Emaar's shares were down 2.5 percent at AED5.55 after 45 minutes of unusually heavy ... more
Jan 2 ,2016, city : Dubai
Diamond Developers, the company behind Dubai's AED1.1 billion ($299 million) Sustainable City, has said it has welcomed its first set of tenants to the ecological and environmentally-friendly project.
Several families have made their home at The Sustainable City to date, with more expected to move in by the end of the y... more
Jan 2 ,2016, city : Dubai
UAE-based Eagle Hills, in partnership with local developer Diyar Al Muharraq, has revealed details of its flagship urban centre Marassi Galleria, a residential, hospitality and lifestyle shopping and entertainment destination in Bahrain.
Anchored on the beach front, Marassi Galleria is located within Marassi Al Bahrain and ... more
Jan 1 ,2016, city : Dubai
Dubai residents have reached out to those affected by the New Year’s Eve fire in the Downtown area of the city using Twitter.
The hashtag #NeedAnAddress was trending in the country shortly after the Address Downtown hotel caught fire, with Twitter users offering spare beds and sofas to those evacuated from the area. more