Latest Real Estate News in UAE

All new Dubai properties must fit LED lightbulbs by end-2017

Jan 31 ,2017, city : Dubai

All new properties built in Dubai will have to fit new energy efficient lightbulbs which have been developed by Dubai Municipality in association with Philips Lighting, it has been announced.

Dubai Municipality said it has signed a contract with Philips Lighting for the design, manufacture and supply of Dubai Lamp, to be ma... more

Dubai mortgage deals double in 7 years, but sales 'velocity' slows

Jan 31 ,2017, city : Dubai

Dubai’s real estate market is witnessing year-on-year growth in mortgage activity, which has nearly doubled in the past seven years, according to a new report.

However, the surge in home loans has lowered number of sale transactions, which now take double the time compared to cash deals, Reidin-Global Capital Partners... more

Dubai developers 'unlikely' to deliver on 2017 handover pledges

Jan 28 ,2017, city : Dubai

Propertyfinder Group, the UAE-based real estate search portal, expects unit handovers in Dubai this year to be significantly lower than developers’ official projections.

The company said that while this may not be welcome news for off-plan investors hoping to soon pick up their keys, a more protracted handover sched... more

Dubai property prices still nearly 14% below 2014 peak

Jan 28 ,2017, city : Dubai

Residential property prices are more than 13 percent lower than their peak in 2014, according to a new report by real estate consultancy ValuStrat.

Its fourth quarter report showed that the monthly growth rate of residential values in Dubai has been broadly stable for the past 18 months.

It said some freehold... more

Dubai property brokers earn $410m in commissions in 2016

Jan 27 ,2017, city : Dubai

Real estate brokers in Dubai made total commissions of AED1.5 billion during 2016 from nearly 33,000 transactions, according to Dubai Land Department (DLD).

Tha authority said Dubai has 5,933 active brokers and 2,285 registered brokerage offices, adding that the commission represented two percent of the total value of recor... more

Majid Al Futtaim plans to open Masdar City mall in 2018

Jan 11 ,2017, city : Abu Dhabi

Majid Al Futtaim Group intends to open its new My City Centre Masdar mall in Masdar City by the end of next year.

The company, which announced that it was building the mall as part of a proposed Dh30 billion worth of investments in June last year, has said that the new mall will cost Dh300 million to build and will be based... more

14,600 new homes added to Dubai market in 2016, highest since 2012

Jan 10 ,2017, city : Dubai

A total of 14,600 residential units entered the Dubai real estate market in 2016, the highest level since 2012, according to a new report by JLL.

The 2016 Year in Review report said that 31,000 units are scheduled for completion in 2017, with Dubai South gaining prominence, with 550 units slated for completion this year and... more

Dubai's Tamweel Tower unit owners' expect to move in by April – report

Jan 9 ,2017, city : Dubai

Tamweel Tower apartment owners in Jumeirah Lakes Towers (JLT) are hoping to move into their homes by April, according to a news report.

The 34-storey tower in JLT was engulfed in flames on November 18, 2012, but the owners have yet to return to their apartments, despite the rehabilitation process being completed in June 201... more

Dubai rent index 2017: Two-beds 14% cheaper in Marina, 30% costlier in Arjan

Jan 9 ,2017, city : Dubai

Rents for two-bedroom apartments in majority of freehold areas across Dubai declined or remained stable, according to a comparative analysis of the official rent index for 2016 and 2017.

Dubai Marina registered a 14 percent decline in 2017, with rentals for two-bed units starting at $32,672 (AED120,000) to $43,563 (AED160,0... more

3% expat housing fee in Abu Dhabi backdated to March 2016

Jan 6 ,2017, city : Abu Dhabi

The expat housing fee in Abu Dhabi will be backdated to when the decree was issued and has to be paid in a single payment, an Abu Dhabi Municipality (ADM) official confirmed to Arabian Business.

Abu Dhabi Executive Council issued the decree on the housing fee (three percent of the annual rent) in February 2016, which came i... more

Dubai's Damac launches new homes inspired by London, LA

Jan 5 ,2017, city : Dubai

Damac Properties is set to launch sales for the Kensington Boutique Villas at Akoya Oxygen and Beverly Hills Boutique Villas at Akoya by Damac.

Kensington Boutique Villas will go on sale in Dubai on Thursday, with prices for furnished and serviced units starting at AED1.35 million.

Beverly Hills Boutique Vill... more

Trump stirs controversy with praise for Damac's Sajwani at NYE party

Jan 4 ,2017, city : Dubai

US President-elect Donald Trump has stirred controversy in the US with words of praise for Damac Properties chairman Hussain Sajwani, his business partner from Dubai, during his New Year Eve party at Mar-a-Lago resort, Florida.

In early December 2016, Trump said he “will make no new business deals during his time in t... more

Damac's Sajwani wants to 'deepen business ties' with Trump Organisation

Jan 3 ,2017, city : Dubai

Damac Properties chairman Hussain Sajwani is hoping to “strengthen” his business ties with the Trump Organisation.

Dubai-bourse listed developer has commercial ties with the US firm since 2013 when it launched the Trump International Golf Club as part of its $6 billion (AED22 billion) Akoya development in Dubai.... more

More sub-Dh2m homes convince Dubai residents to buy

Jan 2 ,2017, city : Dubai

More sub-Dh2m homes convince Dubai residents to buy

Dubai: Cost-conscious home buyers in Dubai better have their funds ready — homes under Dh2 million are not staying unsold for long. And in the home finding rush, former tenants are switching to becoming landlords.
And if rents in Dubai continue to remain stuck... more