Latest Real Estate News in UAE

Property developer DAMAC looks to list shares on Dubai bourse

Jul 31 ,2014, city : Dubai

    DUBAI, July 31 (Reuters) - Dubai luxury property developer DAMAC  is offering investors the option of converting its Global Depositary Receipts (GDRs), listed on the London bourse, into ordinary shares that would be listed on Dubai's main stock market. Investors would get around 23.08 shares per GDR. They have ... more

American cities make a comeback

Jul 31 ,2014, city : Dubai

 Dubai: While Dubai has dropped off the list of global cities with the fastest upturns in premium after a run that started in 2012, American cities are making a comeback, according to the Knight Frank report.

New York, Los Angeles and Miami were respectively placed third, fourth and fifth in the Knight Frank rankings f... more

Damac to list shares on Dubai bourse

Jul 31 ,2014, city : Dubai

Dubai: Damac Properties, the luxury property developer, is set to list shares on the Dubai Financial Market (DFM), the holding company announced on Wednesday in a statement to the London bourse.

From midday London time on Wednesday, Damac has been offering to convert Damac Real Estate Development Limited (DRED) London-liste... more

Luxury realty in Dubai loses some of its growth sheen

Jul 31 ,2014, city : Dubai

 Dubai: The squeeze on Dubai’s property values getting too ahead of what can be deemed sustainable is paying off handsomely. The impact is most telling within the top-end of the residential marketplace.

A new report from the consultancy Knight Frank finds that high-end homes in Dubai saw value gains of 6.3 per ce... more

Aldar to launch apartments in Abu Dhabi’s tallest tower

Jul 30 ,2014, city : Dubai

Aldar Properties intends to launch 474 residential units for rent in Abu Dhabi city in the last quarter, said Talal Al Dhiyebi, executive director of Asset Management at Aldar.

The 474 units are part of the WTC Residences in downtown Abu Dhabi.

Construction work in the residence tower was completed, Mr Al Dhi... more

Dubai landlord issues eviction notice while tenant’s Rera case is open

Jul 30 ,2014, city : Dubai

I have some queries regarding a rental dispute I currently have with my landlord. The landlord has given less than 90 days notice to increase rent by more than what is allowed by Rera. We have filed an official complaint with Rera and it is currently still in process. The landlord has just sent me an eviction notice (while the case is sti... more

Bollywood star backs stalled $626m Dubai mixed-use project

Jul 30 ,2014, city : Dubai

Bollywood superstar Shah Rukh Khan has reportedly teamed up with an alliance of developers to endorse a AED2.3 billion ($626 million) mixed-used project in Dubai which was first launched in 2008 but was stalled by the global financial crisis.

The movie star has joined up with Aristocrat Star, PAL Developments and Pacific Ve... more

India’s Capital Gains Tax Levy To Affect Dubai’s Property Market

Jul 30 ,2014, city : Dubai

The proposed eradication of the capital gains tax holiday on overseas residential property investments made by Indians will affect Dubai’s residential property market, according to Cluttons, a global real estate consultancy.

The move, which is a part of the latest Indian budget, looks to mark the end of a tax-free reg... more

Up for sale: Dh4,045m for a Gherkin

Jul 29 ,2014, city :

 The City of London’s Gherkin building has been put up for sale by administrators who hope to attract bids of at least £650 million (Dh4,045 million.)

The 41-floor tower was designed by Lord Foster for insurance company Swiss Re and opened in 2004.

But the Gherkin fell into receivership this ... more

How to live as an expat in the UAE

Jul 29 ,2014, city : Dubai



The UAE has a well-established expatriate population, especially in Dubai and Abu Dhabi.

Internations has compiled the following list for Emirates 24|7 from the recommendations and advice of those experienced expats to help you make a smooth move to the UAE.

Before you move

1. P... more

Dubai industrial rents up 25% amid shortage of stock

Jul 29 ,2014, city : Dubai

Industrial rents in Dubai have risen by 25 percent in the past year, according to a new report by real estate consultancy Knight Frank.

Its report said rental values in seven out of nine districts tracked in Dubai had seen double-digit increases over the past year.

Class 2 buildings in Dubai Investments Park,... more

Qatar real estate sector records 30.5% growth in June

Jul 27 ,2014, city : Dubai

 In mid-June this year, Ezdan reported that the rise in transactions was pumped in by 141 deals worth QR1.310bn or a daily average of QR262mn compared to the 108 deals from the previous week.

The report also noted that despite the 29.7% decline in the value of transactions from QR1.9bn in the previous week to QR1.3bn, ... more

Dubai Industrial Rents Rise Up To 47% In Certain Areas In Q2 2014

Jul 28 ,2014, city : Dubai

Industrial rents in Dubai were up 25 per cent year-on-year in the second quarter of the year, with some areas seeing up to 47 per cent growth, according to a report by property consultancy Knight Frank.

Over the past year, rental values experienced double-digit increases in seven out of the nine districts tracked, the repor... more

No hotel operator yet for UAE's second tallest tower

Jul 27 ,2014, city : Dubai

The second tallest tower in the UAE, which is scheduled to open early next year, currently has no confirmed operator for its hotel, the project developer has confirmed.

Marina 101 had been set to become home to the 300-room Dream Dubai Marina, which would have been operated by Hampshire Hotels Management, in association wit... more

Dubai builder Arabtec posts major cash deficit for second quarter

Jul 27 ,2014, city : Dubai

Arabtec is likely to need a capital injection or new debt financing after its second-quarter earnings figures showed a significant worsening of its cash position, analysts said yesterday.

Despite a year-on-year improvement of 51 per cent in second-quarter revenues, which jumped to Dh2.41 billion from Dh1.59bn, Arabtec ran a... more

Markets react as Arabtec second quarter profits miss estimates

Jul 27 ,2014, city : Dubai

Arabtec missed analysts’ second quarter profit estimates, despite seeing a profit increase of 11 per cent against the previous year.

The company earned profits of Dh103m in the three months from April to June, as compared to second-quarter profits of Dh92m in 2013.

Analysts on Bloomberg expected profits... more

Revealed: average Dubai apartment, villa price tags

Jul 27 ,2014, city : Dubai

The average price of a studio apartment in Dubai stands at AED959,000 ($261,094), according to new research by the UAE's property search website, propertyfinder.ae.

The website also revealed that an average one-bedroom apartment in the city costs AED1.7 million and a two-bedroom apartment carries an average price tag of... more

Industrial rents in Dubai climb

Jul 27 ,2014, city : Dubai

 Dubai: Industrial rents in Dubai increased 25 per cent year-on-year in the second quarter while rental values across seven out of nine districts tracked by Knight Frank have recorded double digit growth.

Class 2 buildings in Dubai Investment Park (47 per cent), Jebel Ali (39 per cent) and Ras Al Khor (36 per cent) all... more

Dubai Developer Deyaar Q2 Net Profit More Than Doubles

Jul 24 ,2014, city : Dubai

Dubai-based property developer Deyaar said on Wednesday its second-quarter net profit more than doubled, buoyed by the launch of its hotel apartment project.

Deyaar made a quarterly consolidated net profit of Dhs62.5 million ($17 million) compared with Dhs27.3 million in the corresponding period in 2013.

SICO... more

Dubai Records Real Estate Deals Worth Dhs113bn In H1 2014

Jul 23 ,2014, city : Dubai

Dubai recorded real estate transactions worth Dhs113 billion during the first half of this year, according to Dubai Land Department (DLD).

However, the value of transactions fell 14.7 per cent to Dhs52 billion during the second quarter of this year from Dhs61 billion in the first quarter of this year.

Sales a... more

Emirates REIT sees huge profit rise after NASDAQ listing

Jul 25 ,2014, city : Dubai

Emirates REIT Limited, the Shari'a compliant regulated real estate investment trust, has announced a 194 percent rise in net profit during the first six months of 2014.

The trust, incorporated in the Dubai International Financial Centre and listed on NASDAQ Dubai, said net profit soared to $34.15 million from $11.61 mil... more

Time for Dubai developers to revive rent-to-own schemes

Jul 25 ,2014, city : Dubai

Rent-to-own schemes will benefit the Dubai property market and developers should reintroduce them, according to a real estate agency.

“Rent-to own schemes have various benefits for both tenants and developers. While sellers get an option fee and potential buyer, tenants get to live-in the property and try out the neig... more

Former Arabtec CEO Hasan Ismaik reduces shareholding at Dubai builder

Jul 24 ,2014, city : Dubai

The former Arabtec chief executive Hasan Ismaik has sold a small part of his shareholding in the construction company, according to data from Bloomberg. This is the first time he has sold shares since his departure in June.

Mr Ismaik sold 3.5 million shares on Wednesday, reducing his holding to 28.77 per cent of the company... more

CBRE urges caution over Dubai construction pipeline

Jul 24 ,2014, city : Dubai

Dubai's real estate construction pipeline needs to be monitored carefully to ensure supply does not exceed demand in the emirate, property consultants CBRE has warned.

The company has urged authorities in the emirate to remain cautious as the residential development pipeline continues to increase, with a rising number o... more

Saadiyat Beach Villas project set for June 2015 completion

Jul 24 ,2014, city : Abu Dhabi

Abu Dhabi's master tourism developer has said that the third phase of its Saadiyat Beach Villas project is scheduled for completion in June 2015.

Tourism Development & Investment Company (TDIC) said the latest phase of development would see the construction of 77 luxury residences, raising the total number of units ... more

Top property investors' choice? Dubai Marina, followed by...

Jul 24 ,2014, city : Dubai

Real estate transactions in Dubai rose by 4.6 per cent to Dh113 billion in the first six months of 2014 to Dh108 billion during the same period last year, data compared by Emirates 24|7 reveals.

Dubai Marina continues to remain the most favourite area among investors with  2,576 sale transactions being registered, wort... more

Tenants relocating to Northern Emirates; trend to gather speed

Jul 24 ,2014, city : Dubai

The flight to affordability will increase as tenants will continue to moving to Northern Emirates as residential rentals will continue to see rise throughout 2014, according to CBRE.

“With sustained demand for both occupational and investment properties, we anticipate that residential rental and sales growth will cont... more

Dubai tenant defiant over landlord’s subletting claims

Jul 23 ,2014, city : Dubai

My rent contract is due for renewal this month. I went to the real estate office managing the property matters of my landlord to renew my rent contract last week and give them the cheques for the next contract term. However, they told me they cannot renew on account of my subletting the apartment or sharing the apartment.

I... more

Dubai property deals almost double over first half

Jul 23 ,2014, city : Dubai

 More than Dh113 billion of real estate changed hands in Dubai during the first half of 2014 – nearly double the amount recorded the same time last year – official figures have shown.

New figures from the Dubai Land Department (DLD) show that the total value of real estate transactions taking place in Dubai... more

Dubai prime office rents up 25% as vacancy rate plummets

Jul 23 ,2014, city : Dubai

Office rents in Dubai are still rising, with average prime Central Business District (CBD) rents up three percent quarter-on-quarter and 25 percent year-on-year, according to the Q2 2014 Dubai MarketView by global property advisor CBRE.

CBRE said the CBD market continues to face a diminishing availability of good quality of... more

Dubai's Deyaar says Q2 net profit more than doubles

Jul 23 ,2014, city : Dubai

Dubai-based property developer Deyaar said on Wednesday its second-quarter net profit more than doubled, buoyed by the launch of its hotel apartment project.

Deyaar made a quarterly consolidated net profit of AED62.5 million ($17 million) compared with AED27.3 million in the corresponding period in 2013.

SICO... more

Abu Dhabi landlords rake in 17% rise in H1 property prices

Jul 22 ,2014, city : Abu Dhabi

Abu Dhabi residential sales prices rose for a sixth successive quarter, with a 7 per cent increase in Q2 2014, according to JLL.

Around 1,750 units were completed in Reem Island, Danet Abu Dhabi and Al Reef during Q2, bringing the total stock to around 240,000 units, the global real estate consultancy said in its latest rep... more

Abu Dhabi house prices rise 7% in Q2, says JLL

Jul 22 ,2014, city : Abu Dhabi

Sales prices for residential units in Abu Dhabi rose seven percent in the second quarter of 2014, the sixth successive quarter of increases, Jones Lang LaSalle said on Tuesday.

The Q2 rise in apartment and villa prices brought the average increase for the first half of the year to 17 percent, the real estate consultancy s... more

Damac’s Loretto at Akoya in Dubai sells out in one night

Jul 22 ,2014, city : Dubai

The Dubai property market is at “the top of its game” according to the managing director of Damac after the developer’s lastest sales launch sold out in one night.

The launch of nearly 300 apartments at Loretto, located in Downtown Akoya, took place during Suhoor last night across six UAE venues.
more

Aldar ties up with Chalhoub for region’s biggest department store at Yas Mall in Abu Dhabi

Jul 22 ,2014, city : Dubai

Aldar Properties has signed an agreement with the luxury brand retailer Chalhoub Group to create the region’s largest department store, at Abu Dhabi’s soon-to-open Yas Mall.

Chalhoub, which opened the world’s largest shoe store – the 96,000 square feet Level Shoe District in The Dubai Mall in 2012 &n... more

Al Mazaya Holding reveals 631% increase in profits

Jul 22 ,2014, city : Dubai

Al Mazaya Holding Group profits for the first half of 2014 were AED40.3m ($10.9m), an increase of 631 percent on the corresponding period a year earlier.

The improved results were attributed to increased occupancy rates in recently completed Al Mazaya Holding residential developments, and strong rental yields.

... more

Rents in Jeddah expected to fall 40% over three years

Jul 21 ,2014, city : Dubai

Rents have been rising at unreasonable rates in the past few years and citizens and expatriates with middle and low incomes have been finding it hard to cope with the situation.

A member of the Real Estate Committee at the Jeddah Chamber of Commerce and Industry ( JCCI ) Awad Al-Dousi attributed the expected drop in rent ra... more

Bloomingdale gated villa community launched in Dubai's Sports City

Jul 21 ,2014, city : Dubai

Sol Properties, a subsidiary of the Bhatia Group, has launched Bloomingdale, an exclusive gated community in Dubai Sports City.

The development comprises 72 residential villas, equipped with elegant Italian appliances, spacious living spaces, huge rooftop terraces, open plan design, built in wardrobes and premium fixtures a... more

UAE's second tallest tower set for Q1 2015 handover

Jul 21 ,2014, city : Dubai

Sheffield Holdings Limited has announced that its plans to build the second tallest tower in the UAE is over 80 percent complete.

Its Marina 101 project, which stands at 425 metres, is poised to be the tallest tower in Dubai Marina and the second tallest tower in the UAE.

The company said in a statement that ... more

Arabtec announces board meeting to be held this week

Jul 21 ,2014, city : Dubai

Arabtec’s shares embarked on a roller coaster ride yesterday. While retail investors appeared to be fretting about the fate of the former chief executive’s stake, institutional investors were looking ahead to Thursday’s board meeting as an indication of what to expect from the company’s new managers.

... more

Dubai Marina residents to deliver petition to Emaar against promenade dog ban

Jul 20 ,2014, city : Dubai

A group of Dubai Marina residents will today deliver a petition to Emaar's head quarter calling on the master developer to reverse its ban on dogs using the promenade area of the marina development.

On July 13 Emaar erected signs forbidding dogs from accessing the Dubai Marina Promenade, which has prompted a backlash fr... more

Brakes applied on Dubai house price growth

Jul 20 ,2014, city : Dubai

The pace of house price growth in Dubai is slowing.

House prices in the freehold areas of the emirate increased by an average of 6 per cent from April through June, down from the 10 per cent pace reported during the first three months of the year, according to a new report by JLL.

The property consultancy sai... more

Arbitration cases rise on introduction of new rules at ADCCAC in Abu Dhabi

Jul 19 ,2014, city : Abu Dhabi

New rules introduced last year by Abu Dhabi Commercial Conciliation & Arbitration Center (ADCCAC) have prompted a surge in real estate and construction arbitration cases.

The new arbitration rules were universally welcomed by the UAE’s legal community upon their introduction last October, for bringing the emirate&... more

Dubai's red-hot property market cools in Q2, says JLL

Jul 20 ,2014, city : Dubai

The rise of Dubai's red-hot residential real estate market is slowing as government steps to curb speculative buying have an impact and higher prices start to affect demand, consultants JLL said in a report on Sunday.

Second-quarter trends in the market suggest the risks of the Dubai property market overheating and then... more

Developers reveal $626m mixed use project in Dubai

Jul 18 ,2014, city : Dubai

An alliance of three developers have revealed plans to build a AED2.3 billion ($626 million) mixed-used project in Dubai Investments Park.

Aristocrat Star, PAL Developments and Pacific Ventures said that Royal Estates will house 2,000 units, comprising apartments, villas, boutique retail spaces, an office complex and a luxu... more

Dubai developers urged to bring in 'rent to buy' schemes

Jul 18 ,2014, city : Dubai

Chesterton, the international property agency, has called on Dubai developers to reintroduce rent-to-own schemes to help expats struggling to afford to buy in the emirate's booming real estate market.

The company said rent-to-own schemes, which were popular during the early 2000s when Dubai was establishing its own prop... more

Put granny up in style with Dh100 million two-mansion complex in Dubai

Jul 17 ,2014, city : Dubai

Located in Dubai, a city boasting some of the biggest, tallest and most expensive properties in the world, this grand complex comprises two 15,000-square foot mansions as well as an extra-large swimming pool.

The property, which is spread over three villa plots in the east section of Emirates Hills, also includes a large ga... more

Is it time to buy a house in Dubai?

Jul 17 ,2014, city : Dubai

 You’re tired of seeing your money fly into your landlord’s pocket, so you think about buying a home soon – but is it a good time to get a mortgage?

Certainly, according to Preeti Bhambri, managing director of Moneycamel.com, a personal finance website in the UAE. She said the interest rates on home l... more

UAE’s ACC to build 81-storey tower in India

Jul 16 ,2014, city : Dubai

UAE-based Arabian Construction Company (ACC) has been awarded a contract by realty organisation Brys Group to build an 81-storey tower in Noida, North India.

The project will be the second the construction company is undertaking in the territory and its fourth in India.

"We have awarded the contract to A... more

Sobha Hartland launched in Mohammed Bin Rashid City

Jul 16 ,2014, city : Dubai

Sobha Developers have launched a new mixed-use development within the Mohammed Bin Rashid Al Maktoum City located three kilometres from Burj Khalifa.

The exclusive, ultra stylish yet family orientated community has over 30 per cent of the 185 acre project dedicated to green living and is now offering its luxury homes for sa... more

Abu Dhabi tenants hit with rent increases of up to 50%

Jul 16 ,2014, city : Abu Dhabi

Rents in Abu Dhabi will increase by as much as 50 percent, according to a report in The National.

Some tenants in the city have received notices posted at their building’s entrance from landlords outlining rent increases of anywhere between 10 and 50 percent. The rents, according to the notices, are being increased to... more

UAE’s new hotspot for budget renters revealed

Jul 16 ,2014, city : Dubai

 The cost of housing has always been a cause for worry for low-income expatriates in the UAE. When rents in Dubai became unaffordable, a number of residents packed up their belongings and traded long commutes for cheaper apartments in Sharjah.

The latest Northern Emirates market report from property consultants Asteco ... more

Gulf investors snap up London properties

Jul 15 ,2014, city : Dubai

 Dubai: Middle Eastern investors are increasingly showing appetite for London real estate and snapping up houses in some of the British capital’s most high-profile developments, analysts said.

Paul Preston, head of IP Global Middle East, said that whereas in the past Middle Eastern residents were buying London pr... more

Petition calls on Emaar to reverse dog ban in Dubai Marina

Jul 15 ,2014, city : Dubai

The ban imposed on pets on Dubai Marina promenade remains in place, in spite of opposition from residents in the area and plans to set up a petition against the move.

Signs have been placed across the Dubai Marina promenade, thanking them for “not bringing their dogs along to the promenade”.

Emaar... more

Aldar board names Mohammad Khalifa Al Mubarak as CEO

Jul 13 ,2014, city : Dubai

 Abu Dhabi: Abu Dhabi-based Aldar Properties PJSC (‘Aldar’) on Saturday announced Mohammad Khalifa Al Mubarak as the company’s Chief Executive Officer effective immediately.

Al Mubarak previously held the position of Deputy CEO and Chief Portfolio Management Officer at the company.

Sinc... more

Abu Dhabi rents steady after surge on rent-cap removal

Jul 13 ,2014, city : Abu Dhabi

Rent increases in Abu Dhabi slowed down to more “sustainable levels” in the second quarter of 2014, after witnessing a first quarter surge buoyed by the removal of 5 per cent per year rent cap.

“A slowdown in transaction volume and more sustainable levels of rental and capital appreciation  a defined ... more

Oversupply dampens Bahrain's office market in H1

Jul 11 ,2014, city : Dubai

Commercial property rents in Bahrain continued to flatline in the first six months of 2014 as the market suffered from an oversupply of office stock, Knight Frank has said.

The real estate consultancy said Bahrain's office market has been suffering from an oversupply and weak occupier demand since the 2008/09 crisis, ... more

Bahrain firm to develop mixed-used project in Dubailand

Jul 11 ,2014, city : Dubai

Gulf Finance House (GFH), the Bahrain-based Islamic investment bank, has signed a land sale agreement with Dubai Properties Group (DPG) to establish a new mixed-use residential development in its Dubailand district.

The land sale agreement, which involves the purchase of a total area of approximately 1,200,000 square feet, ... more

Italian group pitches $30bn UAE smart city mega project

Jul 10 ,2014, city : Dubai

A new $30 billion Italian smart city is the latest largescale development project proposed for the UAE. Unveiled at a press conference in Abu Dhabi on Wednesday, the developers behind the project claim they are more than hopeful it will come to fruition as a significant amount of equity is already in place to finance the plans.
more

Revealed: The most - and least - expensive city for expats

Jul 10 ,2014, city : Dubai

Dubai climbed 23 places to be ranked 67th globally in the list of most expensive cities for expatriates, according to a survey released on Thursday.

However, despite the jump, Dubai is still not the most expensive city in the Middle East for expats. That title goes to Beirut (63), followed by Dubai (67), and Abu Dhabi (68).... more

Dubai developer Nakheel H1 net profit up 54%

Jul 9 ,2014, city : Dubai

Dubai property developer Nakheel, which was a major victim of the emirate's financial crisis five years ago but is now recovering strongly, reported a 54 percent jump in profit for the first half of this year.

The government-owned company made a net profit of AED1.85 billion ($504 million) in the six months to June 30, ... more

Abu Dhabi apartment prices up 4% in Q2, says Asteco

Jul 9 ,2014, city : Abu Dhabi

Average apartment sales prices in Abu Dhabi rose by four percent during the second quarter of 2014, Asteco said in a new report on Wednesday.

A slowdown in transaction volume and more sustainable levels of rental and capital appreciation defined Abu Dhabi’s residential sector performance in the three months to June, a... more

Onyx development back in fast-track mode

Jul 9 ,2014, city : Dubai

 Dubai: The Onyx is rising. The Dh1.2 billion plus project opposite Dubai Media City — featuring a cluster of three towers on a podium —is moving with assured steps towards a fourth quarter 2015 completion, according to Ishraqah for Development, the project promoter.

But the journey, until recently, was nev... more

Ras Al Kahimah developer looks to new projects

Jul 9 ,2014, city : Dubai

 Dubai: Boosted by a new Dh850 million financing deal, Ras Al Khaimah-based Al Hamra Real Estate Development could look at new project launches. Feasibility studies are on for two options which includes a possible 11 million square feet development alongside Mohammad Bin Zayed Road, according to a senior official.

The ... more

Revealed: Highest paid executives of UAE listed companies

Jul 8 ,2014, city : Dubai

Top executives from telco Etisalat and Burj Khalifa developer Emaar have dominated a list of the 30 highest paid officials leading the region’s publicly listed firms, with the top earners taking home an average of $112,785 per month, according to research carried out by Arabic website Argaam.com.

The CEO of Abu Dhabi-... more

Robust realty, tourism boom will lift Emaar: Moody’s

Jul 8 ,2014, city : Dubai

Dubai-based master developer Emaar Properties is set to benefit from the economic boom currently underway in Dubai, especially the surge in tourism and real estate sectors, according to global ratings agency Moody’s Investors Services.

In a new report titled ‘Emaar Properties: Domestic business to fuel growth, b... more

Affordable housing in Dubai? Forget International City, Discovery

Jul 8 ,2014, city : Dubai



Tenants and prospective purchasers have started eyeing peripheral Dubai communities as prices in some of the emirate’s more popular locations are moving out of reach for them, a new report says.

As prices move closer to and, in some case, beyond the pre-2008 levels, several interested buyers and invest... more

Dubai's Limitless gets investment nod for Vietnam project

Jul 7 ,2014, city : Dubai

Dubai developer Limitless said on Monday that plans to build a residential and tourism project in Vietnam has moved a step closer.

The company said in a statement that the Quang Ninh state authority has issued an investment certificate for Halong Star.

The certificate of investment allows Limitless to legally... more

Bahrain issues 4 tenders for North City projects

Jul 7 ,2014, city : Dubai

Bahrain’s housing ministry has issued four tenders for companies wishing to bid for projects in Al Madina Al Shamliya (north city), a massive scheme involving the construction of 15,000 houses for Bahrainis, a newspaper reported on Monday.

The first tender targets consultancy firms to supervise infrastructure work, se... more

How tenants are using Rera index to beat surging Dubai rents

Jul 8 ,2014, city : Dubai



Residents of Dubai are increasingly opting to stay put with their existing leases rather than face mounting rents and relocation costs associated with moving to a new residence in the emirate.

According to real estate consultancy Asteco, most rental transactions in the emirate during the second quarter of 20... more

Value buying is trending in Dubai’s realty

Jul 7 ,2014, city : Dubai

 Dubai: Property buyers in Dubai are chasing value at those locations where they see that asking prices have yet to go through artificially induced spikes.

This is why residential communities such as Jumeirah Village, Dubai Sports City and Dubai Silicon Oasis are attracting a lot of interest as compared to a Downtown D... more

UAE property: The cheapest and priciest areas to rent in Dubai

Jul 7 ,2014, city : Dubai

 Dubai: Looking for a place to rent in Dubai that doesn’t break the bank? Stay away from Shaikh Zayed Road or the commercial centre.

The cheapest studio apartment in Dubai can be found in International City, about 17 kilometres away from Dubai Mall, according to data compiled by property consultant Asteco. Afford... more

Watch: Dubai launches Mall of the World plan

Jul 5 ,2014, city : Dubai

Dubai: Dubai is bundling a lot of “world firsts” for the Mall of the World development – its most ambitious project since the emirate’s economic revival began in earnest since early 2012.

The project is to be the retail and hospitality showpiece development for the Expo 2020 in Dubai, alongside the p... more

Abu Dhabi’s Mubadala considers purchase of historic London property – report

Jul 6 ,2014, city : Abu Dhabi

Mubadala, the Abu Dhabi state-owned investment vehicle, is eyeing up the purchase of a historic six acre site in Knightsbridge, according to a report in the UK.

The Sunday Telegraph reports that Hyde Park Barracks, the historic home of the Household Cavalry, is attracting the interest of Mubadala Development Company.
... more

Mall of the World in Dubai- First look

Jul 5 ,2014, city :

Project to develop the world's largest mall, largest indoor park, cultural theatres and wellness resorts with a capacity to host over 180 million visitors annually
Mohammed Bin Rashid: "We announced recently that we plan to transform Dubai into a cultural, tourist and economic hub for th... more

UAE construction sector swells with USD46bn in projects for 2014

Jul 4 ,2014, city : Dubai

An April 2014 report by consultancy Ventures Middle East, "Exploring UAE's Strong Investment Environment" noted that the new projects, combined with many previously stalled projects now forging ahead, will continue to bolster the 2013 upswing into 2014. The same report remarks that the UAE's GDP for 2014 is set to grow a... more

UAE oversupply of property means a correction ahead

Jul 4 ,2014, city : Dubai

The oversupply of property in Dubai has increased by almost 8 per cent in the past month if you follow adverts for homes for sale or rent on the Dubizzle.com website that have topped 206,000. There are a record 116,000 units available for rent and 90,000 for sale. It’s not that much better in Abu Dhabi, where an astonishing 59,000 u... more

Banks are more generous on mortgage refinancing

Jul 3 ,2014, city : Dubai

 Dubai

There may be lots of interested buyers out there scouting around for a property in Dubai. Intention may be one thing, but for them to get all of the necessary mortgage approvals to seal the deal is an altogether different issue.

Which is a most unfortunate state of affairs given that interest rate... more

Dubai builder Arabtec yet to convince analysts with new strategy

Jul 3 ,2014, city : Dubai

The Burj Khalifa builder held a press conference on Wednesday to address investor concerns following a catastrophic stock decline in recent weeks.

But that was not enough to restore confidence among analysts contacted by The National yesterday.

“We’re a bit more positive than before, but we still ... more

Nakheel Awards Contract For 8 Substations In Deira Islands

Jul 2 ,2014, city : Dubai

Dubai developer Nakheel announced that it has approved the award of consultancy service contracts for eight substations at its 15.3 square kilometre Deira Islands project.

Engineering consultancies Green Energy and Energoprojekts will carry out design review and infrastructure site supervision services for the 132/11kv subs... more

Business as usual, Dubai builder Arabtec tells investors

Jul 2 ,2014, city : Dubai

The chairman Khadem Al Qubaisi faced an hour-long grilling from reporters at a hastily convened press conference in Abu Dhabi.

After having reduced its shareholding from 22 per cent in the company two weeks ago, prompting fears that the government- backed fund was loosening its ties with Arabtec, he said that Aabar intended... more

Qatar real estate deals close to QR1bn in a week

Jul 2 ,2014, city : Dubai

Real estate transactions in Qatar topped almost QR1 billion last week, new figures show.

It comes as new data also showed the Gulf state’s foreign trade surplus also increased to QR33.3 billion ($9.2bn).

The figures show between June 22 and 26 real estate sales contracts registered at the Ministry of ju... more

Nakheel boss targets rentals to boost recurring income

Jul 2 ,2014, city : Dubai

Dubai developer Nakheel is reportedly planning to build 1,000 villas in the emirate to rent out as it looks to boost recurring income.

Construction is expected to start before the end of the year on the new villas, chairman Ali Rashed Lootah said in an interview with Bloomberg.

Last week, Nakheel said it is a... more

United Arab Bank CEO: No Hike In Mortgage Lending Despite Dubai Property Market Boom

Jul 1 ,2014, city : Dubai

UAE lender, United Arab Bank (UAB) has announced that it will not be increasing its mortgage lending despite upward movement in Dubai’s property market.

“I don’t see our mortgage book rising significantly, and we currently have no intention of taking more risk,” Paul Trowbridge, CEO of UAB told Gulf ... more

HSBC says Arabtec has to hire 17,500 staff to clear Dh60bn backlog

Jul 1 ,2014, city : Dubai

The report – sent by HSBC analysts to clients but as yet unpublished – says that the company needs to hire an additional 17,500 white-collar employees to execute its backlog until 2017, believed to be standing at more than Dh60 billion.

In the light of recent departures from the company after the chief executive... more

Dubai rents rise fastest in world; residents mull buying homes

Jul 1 ,2014, city : Dubai

More people are considering purchasing a house in Dubai for living in it as the increase in the emirate’s house rents outpaced all global destinations in the first quarter of 2014.

According to global property consultancy Knight Frank’s latest Prime Global Rental Index, house rents in Dubai grew at 6 per cent in... more