Latest Real Estate News in UAE

Revealed: Emaar dominates list of the emirate's biggest companies

Jun 30 ,2015, city : Dubai

Emaar dominates the latest list of the 50 largest listed companies in Dubai, with the Burj Khalifa developer taking the top spot and its recently listed malls subsidiary coming in third.

The latest ranking of the 50 largest companies listed on the Dubai Financial Market (DFM) has a total market capitalisation of nearly $100... more

British buyer pays $19m for off-plan villa on Palm Jumeirah

Jun 30 ,2015, city : Dubai

A villa on Dubai’s Palm Jumeirah has sold for an eye-watering $19 million (AED70 million), marking a new high for luxury villa prices in the emirate.

The custom designed off-plan villa, called M State, has been purchased by an unnamed British businessman of Indian origin, according to the real estate agent handling th... more

Emaar Misr says to list on Cairo bourse on July 5

Jun 30 ,2015, city : Dubai

Egypt's Emaar Misr for Development will now list on the Egyptian Exchange on or around July 5, it said in a statement on Tuesday.

The listing date is marginally later than what the developer previously expected, saying earlier this month it planned a listing on or around July 2.

Emaar Misr, the unit of Du... more

Dubai's Limitless to pay $564m to creditors

Jun 29 ,2015, city : Dubai

Dubai real estate developer Limitless has taken a step closer to securing a second restructuring on debt outstanding from Dubai's property crash six years ago.

It said on Monday it would repay 2.07 billion dirhams ($564 million) to creditors and has won the approval of almost 90 percent of banks to extend its remaining ... more

Dubai chief dismisses rumours of increase in property fees

Jun 29 ,2015, city : Dubai

Dubai Land Department on Monday rejected rumours that is planning to increase real estate registration fees which are currently fixed at 4 percent.

The authority also said in a statement that it does not plan to raise the charges in the near future.

Dubai announced in September 2013 that it would double the r... more

No increase in real estate registration fees: DLD

Jun 29 ,2015, city : Dubai

The Dubai Land Department (DLD) has ruled out any increase in property registration fees that are currently set at 4 per cent of the unit’s sale price.

 “A number of market players are talking about alleged reports that Dubai Land Department will be increasing real estate registration fees from 4 per cent t... more

Nakheel awards Dh387m contract to Van Oord for Deira Islands

Jun 29 ,2015, city : Dubai

Nakheel, Dubai-based developer, has appointed Van Oord, a marine engineering contractor, to deliver 23.5 kilometres of coastline and breakwaters at Deira Islands, its new, 15.3 square kilometre waterfront city.

The Dh387 million contract, signed on Monday with Van Oord Middle East Limited Dubai Branch, includes beaches, qua... more

Oasis in sky: World's largest ferris wheel taking shape in Dubai

Jun 29 ,2015, city : Dubai

Two huge A-frames – the support structure - for Dubai Eye, billed to be the world’s largest ferris wheel, have been installed on the Dh6-billion Bluewaters Island, Emirates 24|7 can reveal.

In June 2015, the Roads and Transport Authority (RTA) awarded a Dh475-million contract for the bridge, which will have two ... more

Damac launches Paramount Residences on Sheikh Zayed Road

Jun 28 ,2015, city : Dubai

Damac Properties, Dubai-based developer, has launched a new project in collaboration with Paramount Hotels & Resorts on Sheikh Zayed Road.

Paramount Residences at the Paramount Tower Hotel & Residences will be 64-storey tower with 826 hotel and hotel residences. It will have a sky lobby, a private Paramount Pictures... more

Why world's rich are splurging money on Dubai real estate?

Jun 26 ,2015, city : Dubai

The cosmopolitan nature of Dubai coupled with a strong lifestyle consideration is making the emirate an extremely attractive real estate market for the global super rich, according to Wealth-X and Sotheby’s International Realty.

In a report, titled, “The Europe, Middle East and Africa luxury residential real est... more

Burj Mohammed Bin Rashid Tower named best tall building in MENA

Jun 26 ,2015, city : Abu Dhabi

The Council on Tall Buildings and Urban Habitat announced the names of winners and finalists of the Best Tall Building Awards as part of the 2015 CTBUH Annual Awards.

The Best Tall Buildings have been named from each of four competing regions in the world, from 123 nominees representing a total of 33 countries.

more

Dubai property registration deadline extended to October 31

Jun 25 ,2015, city : Dubai



Update: The deadline for registration of all units sold in Dubai has been extended to October 31, 2015, from June 30, 2015, according to a circular issued by Dubai Land Department on Thursday.

Earlier story

With mere five days remaining for the deadline (June 30, 2015) for property owners in D... more

Penalty for missing Dubai property registration deadline, 8% fee?

Jun 25 ,2015, city : Dubai

With mere five days remaining for the deadline (June 30, 2015) for property owners in Dubai to register their units with Dubai Land Department (DLD) to get over, developers are making their last pitch effort to get owners to comply with the new regulation.

Real estate developers are reminding buyers through emails and publi... more

Dubai-inspired island proposed for French city harbour

Jun 24 ,2015, city : Dubai

An architect in Toulon has designed an artificial island for the city’s harbour that is believed to be inspired by Dubai’s Palm Jumeirah and World Islands.

Le Figaro reports that the unlike the artificial islands in Dubai, ‘Île de Provence’ will be a partly floating island that will span 300,00... more

Dubai off-plan properties 20% cheaper than secondary market

Jun 24 ,2015, city : Dubai

A slew of off-plan project launches in Dubai in the past 12 months has driven prices of secondary market properties down by 15 per cent, according to a new report.
 
“Initially, o?-plan (project) launches were at prices systematically higher than what was prevailing in the secondary market; this trend has reversed... more

Islamic lender Amlak says eyeing partnership with Dubai's Emaar

Jun 22 ,2015, city : Dubai

Dubai-based Islamic mortgage lender Amlak Finance has said it is in talks with Emaar Properties to launch a partnership.

Amlak's shares soared 15 percent, the maximum allowed in a day on the Dubai Financial Market, after the company said it plans to work with construction giant Emaar to develop land in “distinctiv... more

Dubai property firms 'better armed' as up to 20% price drop looms

Jun 22 ,2015, city : Dubai

Dubai property prices could fall by up to 20 percent by early 2016 as the market continues to stabilise after three years of sharp appreciation, ratings agency Standard & Poor's (S&P) said on Monday.

S&P said in its latest analysis of the property market in the UAE that additional supply and lower demand is ... more

Property prices down, but UAE better-equipped to face fall: S&P

Jun 22 ,2015, city : Dubai

Property prices in Dubai’s residential housing market are expected to fall by 10 to 20 per cent this year, says Standard & Poor’s (S&P), a global ratings agency, but asserts real estate development companies are in better position to absorb the decline.

“We generally believe that our rated issuers ... more

Dubai inflation hits six-year high amid sharp rise in housing and utility costs

Jun 21 ,2015, city : Dubai

Dubai residents are feeling the effects of rising prices.

Dubai’s consumer price index rose 4.6 per cent annually last month, the highest since 2009, amid a surge in housing and utility costs.

The Dubai Statistics Center said the consumer price index increased 0.6 per cent month-on-month. Meanwhile, hou... more

Emirates Reit expects decent returns from Index Tower fit-outs

Jun 21 ,2015, city : Dubai

Emirates Reit has let a quarter of its first fully fitted-out floor at Index Tower in Dubai International Financial Centre.

The Sharia-compliant real estate investment trust has bought 17 out of 25 of the building’s office floors, 1,404 car parking spaces and all of its retail units. These were acquired through a seri... more

Warning over opening Indian property market to foreigners

Jun 21 ,2015, city : Dubai

Opening the Indian property market to foreigners could widen the gulf between supply and demand in the country, making properties unaffordable to nationals.

Although there has been some liberalisation of foreign domestic investment rules since the prime minister Mahindra Modi came to power last year, this has largely been l... more

New app lists top 100 property brokers in Dubai

Jun 20 ,2015, city : Dubai

The Dubai property watchdog has for the first time ranked the top brokers working in the emirate in a bid to boost transparency and prevent fraud.

It means that buyers and sellers of property can check that property brokers are registered, as well as how many deals they have closed.

The Dubai Land Department ... more

Dubai and Abu Dhabi tenants locked in limbo as landlords seek rent advantage

Jun 19 ,2015, city : Dubai

Tulika Srivastava cannot prove it but she suspects her landlord is being vindictive by serving her family a notice to vacate.

It all started last year, shortly before the contract on her apartment in Jumeirah Lakes Towers was up.

“With one-and-a-half months left on the tenancy, we said ‘we have to... more

Where Abu Dhabi and Dubai tenants can get rental help

Jun 19 ,2015, city : Abu Dhabi

There are avenues for redress for tenants and landlords in Dubai and Abu Dhabi.

In Abu Dhabi, complaints are handled by the Rent Dispute Settlement Committee. Complainants must fill out an application form and submit the original petition plus two additional copies, as well as copies of the rental contract, passport and the... more

Emaar Misr sets IPO price at 3.8 Egyptian pounds per share

Jun 18 ,2015, city : Dubai

Egypt's Emaar Misr has priced its initial public offering at 3.8 Egyptian pounds ($0.4980) per share, parent firm Emaar Properties said on Thursday.

Emaar said earlier this month the offer would be priced at between 3.5 pounds and 4.25 pounds per share.

Emaar Misr is floating 12.99 percent of the company,... more

Louvre Abu Dhabi moves closer to completion

Jun 18 ,2015, city : Abu Dhabi

Construction work on the Louvre Abu Dhabi is progressing as scheduled, according to the developer behind the museum.

The Tourism Development & Investment Company (TDIC) chairman Ali Al Mansoori says he is pleased with the progress being made at the museum following an inspection at the site.

Mr Al Mansoor... more

DIFC aims to make retail strip go-to destination day and night

Jun 18 ,2015, city : Dubai

Dubai’s financial free zone expects to attract thousands of residents as it revives its retail offerings to make the precinct a round-the-clock destination.

Currently about 5,000 people live in the Dubai International Financial Centre (DIFC) free zone across four towers.

With the new Central Park buildi... more

Huge investor appetite for Emaar Misr IPO

Jun 18 ,2015, city : Dubai

Emaar Properties, the biggest publicly traded real estate developer in the UAE, said the initial public offering for its Egyptian unit had attracted more than 11 times the number of shares available for institutional buyers amid booming appetite for investing in the Arab world’s most populous nation.

Emaar Misr for De... more

Revealed: Al Fara'a plans for Dubai Maritime City

Jun 17 ,2015, city : Dubai

Dubai-based Al Fara’a Properties will build a waterfront residential project in Dubai Maritime City (DMC), a company official told Construction Week.

The project is still in the detailed design and planning phase, according to Natasha Gangaramani, director of Al Fara’a Properties.

“With rega... more

Rising rental costs drive UAE cities up global cost of living list

Jun 17 ,2015, city : Dubai

Dubai and Abu Dhabi have been ranked as the 23rd and 33rd most expensive cities to live in (respectively) according to Mercer’s 2015 Cost of Living Survey.

The two cities have experienced a significant jump compared to 2014, with Dubai soaring 44 places from last year’s position at 67 and Abu Dhabi going up 35 p... more

Abu Dhabi property agent demands two days rent for tenant’s late ADDC letter

Jun 17 ,2015, city : Abu Dhabi

I have recently moved out of my apartment. I provided the rental agency in charge of the apartment with more than 60 days notice. As the agreed upon move out date approached I received zero instruction from the agency, so I contacted them to ask where I should deliver the keys, parking garage security cards, etc. The agency then emailed m... more

Damac opens women-only sales office in Dubai

Jun 16 ,2015, city : Dubai

Damac Properties has announced the launch of its first women-only sales office in Dubai, which it says is in response to an increasing number of female buyers.

The office, Morjana, is located close to The Dubai Mall.

The developer said it will be staffed by 25 employees, all of whom are fluent in Arabic.
more

World’s tallest commercial tower in Dubai moves step closer as Burj Khalifa architect appointed

Jun 16 ,2015, city : Dubai

Tall buildings specialist Adrian Smith + Gordon Gill Architecture (AS + GG) has been chosen by the master developer of Dubai’s Jumeirah Lakes Towers (JLT) district to design the Burj 2020 tower - set to be the world’s tallest commercial tower.

AS + GG has also designed Saudi Arabia’s Kingdom Tower - the 1k... more

Damac signs deal with Chinese broker to "sell Dubai" to Asian investors

Jun 15 ,2015, city : Dubai

Dubai real estate developer Damac Properties has signed an exclusive deal with a Chinese property broker in a bid to target investors from the Far East.

Ziad El Chaar, Damac’s managing director, signed a deal with Beijing-based property broker 5i5j, who will promote the Dubai firm’s 37,000 pipeline of properties... more

Abu Dhabi’s Reem Island to be home to 210,000 residents in new master plan

Jun 15 ,2015, city : Abu Dhabi

Reem Island could eventually be home to up to 10,000 hotel rooms, 210,000 residents and thousands of office workers.

A new master plan for the 8.5 million square metre island was unveiled by Abu Dhabi’s Urban Planning Council (UPC) yesterday that sets out development limits for the island.

It states tha... more

Damac enlists property broker 5i5j to ‘sell Dubai’ to the Chinese

Jun 14 ,2015, city : Dubai

One of Dubai’s biggest real estate developers is turning to an army of Chinese real estate agents to sell its residential units.

Damac Properties has signed an exclusive deal with 5i5j, the third-largest property broker in China, to market its pipeline of 37,000 properties to the Chinese.

“They ha... more

Damac to hand over first Akoya villas in Dubai this year

Jun 14 ,2015, city : Dubai

The first villas at the US$6 billion Akoya by Damac development will be delivered by the end of the year, said a senior Damac executive.

The progress on site has made Damac Properties the “busiest developer in Dubai” and the handovers to the buyers will continue until 2020, according to Niall McLoughlin, the fir... more

Dubai developer Limitless awards Arco Dh285 million contract for Downtown Jebel Ali infrastructure

Jun 14 ,2015, city : Dubai

The real estate master developer Limitless has awarded a Dh285 million contract to Arco General Contracting for infrastructure work at its Downtown Jebel Ali mixed-use project in Dubai.

The developer, has appointed Arco to carry out the work, including all new roads, sewerage, utilities and lighting.

Work wil... more

Dubai one of worst performing global housing markets in Q1

Jun 14 ,2015, city : Dubai

Dubai was one of the worst-performing housing markets in the first quarter of 2015, according to new research.

Knight Frank’s Global House Prices Index scored the city 53rd out of 56 locations monitored - one place lower than Greece but higher than China, Cyprus and Ukraine.

Property prices in the emira... more

First homes at RAK's Al Hamra Village nearing completion

Jun 13 ,2015, city : Dubai

Al Hamra Real Estate Development has announced that it is nearing completion of the first of its luxury Bayti Homes at Al Hamra Village, Ras Al Khaimah.

Finishing works are scheduled to begin once structural and block work is completed, with 80 homes set to be ready for owners to move into in November.

The de... more

Dubai seen retaining status as top MidEast city for office demand

Jun 13 ,2015, city : Dubai

Dubai is expected to consolidate its position as the top city for corporate occupiers in the the Middle East and North Africa over the next three years, according to a new report by real estate investment and advisory firm JLL.

Its first Occupier Sentiment Survey in the MENA region said while there is still growth in demand... more

Dubai among world's worst performing property markets in Q1

Jun 12 ,2015, city : Dubai

Dubai's real estate market was one of the worst performing in the world during the first three months of this year with house prices down by nearly four percent, according to a new report.

Knight Frank's Global House Price index ranked Dubai 53rd out of 56 property markets analysed for annual price growth.
more

Chestertons launches new division to help Emiratis invest in EU

Jun 12 ,2015, city : Dubai

Real estate agency Chestertons has announced the creation of a new international properties arm that will focus on EU-based properties for UAE investors.

The company said the new division will also help Emiratis to explore several new investment opportunities due to the current visa-free-travel status in the Schengen zone.<... more

Up-to-date rules on UAE property visas

Jun 12 ,2015, city : Dubai

My husband is British and owns two properties in Dubai. Both are worth over Dh1 million. One is rented out and he owns this outright; the other one, which is where we live, has a mortgage on it. He has an income of Dh10,000 per month that comes from the UK and from rental on the Dubai property. Can he apply for a property visa in relation... more

Dubai's Nakheel says paid $59.8m to trade creditor sukuk

Jun 11 ,2015, city : Dubai

Dubai-based Nakheel on Thursday confirmed a profit payment of AED220 million ($59.8 million) on its trade creditor sukuk.

The developer The company, which overstretched itself during the emirate’s 2008 property crisis after building ambitious manmade island projects, said instructions have been sent to Deutsche Bank, ... more

Abu Dhabi introduces new law to protect property buyers

Jun 11 ,2015, city : Abu Dhabi

Abu Dhabi's ruler has issued a decree to regulate and improve transparency in the emirate's real estate sector, requiring brokers and developers to be licensed and introducing rules to protect buyers of projects that are not yet completed.

Sheikh Khalifa bin Zayed al-Nahyan, who is also president of the United Arab ... more

Dh27m ‘Maldives’ luxury villa 10 minutes from Abu Dhabi

Jun 11 ,2015, city : Abu Dhabi

UAE property investors looking for the ultimate getaway can include Abu Dhabi’s Zaya Nurai Island on their list of options, but they will need a well-lined wallet to secure it.

The latest property in the luxury development to hit the market is a Dh27 million four-bedroom waterfront villa.

The island is ... more

Middle East is a bright spot for building consultancy Atkins

Jun 11 ,2015, city : Dubai

The building consultancy Atkins said the performance of its Middle East operations has underpinned its sales and profits.

The company reported flat sales of £1.75 billion (Dh9.95bn) during the year to March 31, but underlying profits (discounting a one-off gain last year of £10.5 million), were up 14.6 per cent ... more

Dubai set to get 33 new floating private islands

Jun 10 ,2015, city : Dubai

Nakheel has given the go-ahead for a series of floating private islands to be built as part of The World project.

The islands are being developed by Oqyana Real Estate and Amillarah Private Islands. “Nakheel has now granted our project with all the necessary permits in order to take the next step,” the company s... more

Dubai Sports City to house 20,000 people within a year

Jun 10 ,2015, city : Dubai

Dubai Sports City expects to house 20,000 people within a year, as the mixed-use complex expects to attract new tenants.

The city is part of the ambitious Dubailand project. Dubailand was announced in 2003, but many of its projects fell by the wayside in the wake of the global financial crisis of 2008.

Now ma... more

Nakheel approves designs for 33 floating islands at Dubai’s The World project

Jun 10 ,2015, city : Dubai

A partnership looking to build a series of floating islands at Nakheel’s The World islands off Dubai has gained initial approval from the master developer for its designs.

Kuwait-based Oqyana Real Estate and Amrillah Private Islands (an investment vehicle set up by Dutch Docklands, a floating-developments specialist) ... more

Dubai tenants catch landlords reletting homes after being evicted

Jun 10 ,2015, city : Dubai

I was given a three-month eviction notice in April. Although we disputed it as it was not 12 months, we decided to leave due to the landlord making it very difficult for my family to enjoy our home. His reason for the eviction was to sell the property. I agreed and I was very helpful regarding viewings, until a viewing came and it was for... more

Emirates facing fight to rebrand one of UK's tallest towers

Jun 9 ,2015, city : Dubai

Plans by Emirates Airline to brand the Spinnaker Tower in Portsmouth in its red and white colours as part of a new naming rights deal could be in doubt.

The Dubai-based airline said last week that it will be the first ever sponsor of the Tower, one of the UK's tallest, which will be rebranded as Emirates Spinnaker Tower... more

Damac awards $762m contracts in first five months of 2015

Jun 9 ,2015, city : Dubai

Real estate developer Damac Properties has awarded $762m (AED2.8bn) in construction contracts during the first five months of 2015, the company has announced.

Awards include the main works packages on more than 1,500 villas within its luxury lifestyle community, Akoya Oxygen; three new apartment blocks at Akoya by Damac; an... more

Dubai developer Damac awards Dh2.8bn in contracts

Jun 9 ,2015, city : Dubai

Dubai-based Damac Properties has awarded more than Dh2.8 billion worth of contracts during the first half of this year.

The developer said that the awards include main works packages on more than 1,500 villas at its Akoya Oxygen community in Dubailand, three new apartment blocks at the nearby Akoya by Damac development and ... more

Arabtec shares soar 13 per cent while Amlak continues giddying rise

Jun 9 ,2015, city : Dubai

Dubai shares posted their biggest gain in more than seven weeks yesterday, ahead of index compiler MSCI’s annual market classification review.

Arabtec Holding had a late surge as investors injected money into property stocks taking the volume to its highest one-day level since mid-January.

The construct... more

Dubai house prices, rents continue to fall in Q2 as supply fears rise

Jun 8 ,2015, city : Dubai

Property prices and rents in Dubai continued to fall during the second quarter of 2015, with concerns growing over the scale of residential projects set to enter the market in the future, according to a new report.

Phidar Advisory's Q2 Dubai residential research note showed that prices continued to decline compared to Q... more

Meraas appoints WSP to oversee building of Dubai’s Bvlgari Resort and Residences

Jun 8 ,2015, city : Dubai

Engineering consultancy WSP Parsons Brinckerhoff has been appointed by Meraas Holding as the lead consultant for the Bvlgari Resort and Residences complex in Dubai.

The resort will contain a 101-room hotel, eight penthouses, 15 mansions and 165 apartments, as well as a 50-berth marina and yacht club. It is being built on Ju... more

Buyers for Dubai's Town Square in overnight scramble for 10 villas

Jun 7 ,2015, city : Dubai

Hundreds of people who queued overnight to buy the first villas at Nshama’s Town Square scheme in Dubai were left disappointed after being told in the morning that only 10 villas would be released for sale that day.

An estimated 500 people waited for more than 13 hours outside the sales office in Downtown Dubai for th... more

Dubai Properties releases more units to meet Wharf project demand

Jun 6 ,2015, city : Dubai

Dubai Properties has announced the release of additional units at its recently launched residential tower at Dubai Wharf in Dubai Creek following what is described as "tremendous investor interest".

The completion of major infrastructure works around the master development was a decisive factor in driving investme... more

Emaar Properties sets price range for up to $334m Egypt unit float

Jun 4 ,2015, city : Dubai

Dubai's Emaar Properties announced the price range on Thursday for the initial share sale of its Egyptian unit at below previously-indicated levels, giving an offer size of 2.55 billion pounds ($334 million) at the top of the range.

The flotation will involve 600 million shares, equivalent to 12.99 percent of the compan... more

IPO of Emaar Properties’ Egyptian unit gets a running start

Jun 4 ,2015, city : Dubai

Institutional investors were more than two times oversubscribed to the initial public offering of Emaar Properties’ Egyptian subsidiary after only a few hours, according to a market source.

The Dubai-based developer announced on Wednesday morning an indicative price range of 3.50 Egyptian pounds (Dh1.68) to 4.25 pound... more

Dubai’s District One homes come with aquatic masterpiece

Jun 4 ,2015, city : Dubai

District One - Dubai’s “sparkling” new development in Mohammed Bin Rashid City - is being built just a couple of kilometres from Burj Khalifa. The project will host the closest freehold villas to the heart of the emirate but its location comes at a hefty premium.

At today’s prices, waterfront propert... more

Emaar's Al Mamzar beachfront project to cost $2.72bn

Jun 3 ,2015, city : Dubai

Emaar Properties' mixed-use beachfront development in Dubai's Al Mamzar district is expected to have a preliminary cost of 10 billion dirhams ($2.72 billion), the UAE's state news agency WAM said on Wednesday.

The project, announced last year in cooperation with Dubai Municipality, will have 4,000 residential un... more

UAE's Aldar says to launch sales at Meera project next week

Jun 3 ,2015, city : Dubai

Aldar Properties has announced plans to launch sales for its Meera residential development in Shams Abu Dhabi on Reem Island on June 13-14.

Meera features two 26-storey towers overlooking a landscaped park, with 408 one, two or three-bedroom apartments.

Aldar said in a statement that prices will start from AE... more

Amlak shares defy predictions as retail and institutional investors pile in

Jun 3 ,2015, city : Dubai

Shares of Amlak Finance continued to confound predictions following Tuesday’s resumption of trading in the mortgage provider.

Its share price soared yesterday as retail and institutional investors piled into the stock.

After a day of wild fluctuations on Tuesday, shares in the Sharia-compliant lender ro... more

Aldar to launch sales of Reem Island apartments aimed at mid-income residents

Jun 3 ,2015, city : Dubai

Aldar Properties is to launch sales of its mid-market Meera Shams development on Abu Dhabi’s Reem Island.

The project features two 26-storey towers with 408 one-, two- and three-bedroom apartments, and is aimed at residents on a salary between Dh20,000 and Dh30,000 a month.

Aldar said that prices start ... more

Dubai tenant faces second rent hike in two months to alter name on contract

Jun 3 ,2015, city : Dubai

I have been renting my apartment in the Layan Community in Dubailand since 2012, just after I got married. I would now like to change my maiden name to my husband’s name. My landlord has informed me that while I have already renewed the tenancy contract with a 15 per cent increase two months ago, if I decide to change my name I woul... more

Manazel mulls Dh3 billion tourism project

Jun 2 ,2015, city : Abu Dhabi

The Abu Dhabi-based developer Manazel is considering a Dh3 billion tourism project situated between Abu Dhabi and Dubai.

The chairman, Mohammed Al Qubaisi, said in a company disclosure to the Abu Dhabi Securities Exchange yesterday that the developer was conducting a study into the project, described as “a new concept... more

Dubai fund 'in frame' to buy London's Hyde Park Barracks

Jun 1 ,2015, city : Dubai

Dubai’s sovereign wealth fund is believed to be one of the frontrunners in the race to buy London’s prestigious Hyde Park Barracks and convert it into luxury apartments.

The Investment Corporation of Dubai is providing funding for a consortium including British architects Dixon Jones, which produced the masterpl... more

Dubai property market “back to normal” by year end - PNC Menon

Jun 1 ,2015, city : Dubai

Dubai’s real estate market will return to normal by the end of 2015 after a subdued past six months, the founder and chairman of developer Sohba Group has predicted.

In an interview with Arabian Business, PNC Menon said the developer had based prices for its new Mohammed Bin Rashid Al Maktoum City - District One proje... more

Emaar’s Egyptian unit IPO share price range expected on Thursday

Jun 1 ,2015, city : Dubai

The share price range for the upcoming IPO of Emaar Properties’ Egyptian subsidiary on the Cairo stock market will be announced on Thursday, The National has learned.

Emaar Misr shares in the initial public offering will each be priced at a maximum of 4.49 Egyptian pounds (Dh2.15), as approved by the bourse regulator.... more