Latest Real Estate News in UAE

Al Maryah Central super mall ‘will thrive without a ski slope’

Mar 31 ,2016, city : Dubai

Kevin Ryan, the chief operating officer and managing director of Gulf Related, the company building Abu Dhabi’s Al Maryah Central shopping centre, is adamant he does not need a ski slope in what will be the emirates’ newest super-regional mall.

“We spent a lot of time thinking about whether we needed a ski... more

Abu Dhabi property market outlook: New supply to remain suppressed

Mar 31 ,2016, city : Abu Dhabi

While experts in Dubai have been busy trying to predict ex­actly when a market that has been in decline for approximately 18 months might show signs of bottoming out, in Abu Dhabi many believe house prices may now have peaked.

CBRE’s analysis of the market shows that apartment prices in the capital increased by 4 ... more

Dh65m Palm Jumeirah villa can quench your every desire

Mar 31 ,2016, city : Dubai

This seven-bedroom villa on Frond L of Palm Jumeirah leaves one wondering what else could be desired from a villa in Dubai.

This villa has everything one may need for the life of a Dubai resident seeking extravagance and luxury.

For a start, the villa has been extended so it is already bigger than all the nei... more

Dubai rents decline for first 2 months of 2016 but…

Mar 31 ,2016, city : Dubai

Dubai rents slipped close to one per cent month-on-month (m-o-m) in February 2016, but rental yields still remained attractive, reveals data released by

“Dubai residential price index decreased by 1.65 per cent in February 2016 compared to the previous month, while level of decrease was 10 per cent compa... more

Abu Dhabi tenant told he is ‘outside of the law’ after new landlord buys property

Mar 30 ,2016, city : Abu Dhabi

I am an Abu Dhabi tenant who received notice that my unit was being sold, though I have never received any formal notice. The (former) landlord wrote to me in December to inform me that they were selling my unit and they needed me to sign a release of lease to facilitate the sale. I refused to sign as it would leave me without a lease. As... more

UAE's Green Valley plans $168m projects in Morocco, Bosnia

Mar 30 ,2016, city : Dubai

UAE-based Green Valley International Real Estate has announced the launch of two projects worth AED620 million ($168.8 million) in Morocco and Bosnia.

The launch follows the completion of its projects in Turkey, the UAE and other parts of the Middle East, the company said in a statement.

Green Valley announce... more

Why it’s not easy building affordable housing in Dubai

Mar 29 ,2016, city : Dubai

Dubai: It’s not only the high cost of land that has Dubai’s developers shy away from going “affordable”.

The lower level of returns can also be a put off for most of them.

These are “typically due to higher recurring costs in the life cycle of this type of development in contrast... more

Most Dubai affordable property schemes ‘out of reach for lower income households’

Mar 29 ,2016, city : Dubai

Few of the homes being built by the private sector in Dubai branded as affordable are actually within reach of lower-income families, according to a new study.

The research paper from Core, the UAE associate of Savills, argues that Dubai Municipality defines affordable housing as living space for households whose income is ... more

Bahrain's real estate market not affected by oil slump - report

Mar 29 ,2016, city : Dubai

Bahrain's real estate market remained solid with deal values soaring despite the oil price plunge hitting GCC, according to a report.

Weetas, a property management company based in Bahrain, stated that the total value of property deals in Bahrain remained stable at BD1 billion ($2.63 billion) in 2015.

Bes... more

First of Alef Group’s Zero6 malls to open in Sharjah

Mar 28 ,2016, city : Sharjah

The first project to be undertaken by Sheikh Khalid bin Sultan’s Alef Group – a community shopping centre branded as Zero6 – is set to open in April next year, according to the company’s managing director Issa Ataya.

Speaking at a ceremony to mark the signing of the contract at the site with Sharjah-... more

Are rents in Abu Dhabi falling faster than in Dubai?

Mar 28 ,2016, city : Dubai

Dubai: The cost of renting apartments appears to have dropped more in Abu Dhabi than it has in Dubai, latest data would show.

Leasing rates at residential buildings in the UAE capital have registered a 4 per cent decline on average since the beginning of the year until the end of February. In comparison, rents in Dubai went... more

Bloom Central apartments and offices enter the market in Abu Dhabi

Mar 28 ,2016, city : Abu Dhabi

The Abu Dhabi-based private developer Bloom Properties has started marketing 49 apartments and 7,000 square metres of office space at the first phase of its its Bloom Central development close to the Al Wahda Mall in Abu Dhabi.

The two and three bedroom apartments and the office space is located in a 25-storey block alongsi... more

Project bonds could fill funding gap left by banks

Mar 27 ,2016, city : Dubai

Project bonds funded by institutional investors such as pensions and insurance firms could help to fill the gap in infrastructure spending created by lower oil receipts.

David Dubin, the Emea head of infrastructure and energy finance for Citigroup, said project bonds provided by institutional investors had “largely di... more

Aldar first to win licence under new Abu Dhabi property law

Mar 25 ,2016, city : Abu Dhabi

Abu Dhabi's Aldar Properties has announced that it is the first company to receive a master developer licence under the provisions of the new Real Estate Law which came into effect at the beginning of 2016.

The licence from the Abu Dhabi Department of Municipal Affairs is part of provisions in the UAE capital to enhance... more

Dubai realtor says oversupply claims 'patently false'

Mar 25 ,2016, city : Dubai

The head of one of Dubai’s largest real estate brokerages has dismissed recent reports claiming an oversupply of property in the emirate, saying demand is currently outstripping supply.

The reality of Dubai's property availability does not match reports the market is oversaturated, said Allsopp & Allsopp CEO L... more

2% discount if you buy a Dubai property this Friday

Mar 24 ,2016, city : Dubai

Friday will be a carnival day at Dubai Hills Estate, an upcoming real estate project within the Mohammed bin Rashid City (MBR) City for property buyers, as Emaar Properties will offer an instant 2 per cent discount on all its properties.

The developer will pay 2 per cent of the four per cent property registr... more

Dubai's Amazing Projects: Three set to open before year-end

Mar 24 ,2016, city : Dubai

Three stunning projects in Dubai will be opened by end of 2016, propelling tourism and boosting economic growth.

Among the first to open in September 2016 will be the iconic Dubai Opera, the centerpiece of the Opera District in Downtown Dubai, followed by the Dubai theme parks and the Dubai Frame.

... more

Dubai realty deals soar to Dh1.4b in a day

Mar 24 ,2016, city : Dubai

Dubai: Registered real estate transactions in Dubai soared to Dh1.472 billion from 170 deals on Thursday, in another indication that investor momentum is starting to build up again in the sector. This is one of the largest daily transactions registered with the Dubai Land Department in the recent past.

Monday’s transa... more

Drake & Scull gets QR340 million rail contract

Mar 23 ,2016, city : Abu Dhabi

Abu Dhabi: Drake & Scull International has been awarded 340 million Qatari riyal contract related to the delivery of the first phase of the Doha Metro Depots project, the company announced on Wednesday.

The Fujita Corporation, which is undertaking the construction of the Red and Green Lines of Doha Metro’s Depots,... more

Dubai tenant shut out, has electricity and water cut off as landlord demands more rent

Mar 22 ,2016, city : Dubai

I was staying in a one-bedroom apartment in Dubai which was in my uncle’s name. The tenancy expired and I wanted to put the contract in my name. The owner changed so I asked them to change the tenancy name. They said they would increase the rent, which had already been hiked by the previous owner more than the rental index allowed. ... more

No trespassing allowed: Cameras to monitor all Dubai projects

Mar 22 ,2016, city : Dubai

The Dubai Municipality has made it mandatory to fix surveillance cameras for all construction sites.
“Make sure you install surveillance cameras for construction sites on tower cranes or any high place that oversees the site, such as entrances, sites' borders, storage areas with the need to connect them with... more

Dubai Properties starts construction of 1/JBR project

Mar 21 ,2016, city : Dubai

Dubai Properties has confirmed the start of construction of its flagship 1/JBR project.

It said that construction started with site mobilising and enabling works by the end of January. The final design has been completed and it is in the final stage of approval with the authorities.

The development is located... more

Arabtec lands Dh1.7bn housing contract in Fujairah

Mar 20 ,2016, city : Dubai

Arabtec has won a Dh1.7 billion contract to build 1,100 houses for Emiratis in ­Fujairah.

The UAE government’s ­Ministry of Presidential Affairs awarded the contract for the homes that will be built on a 2.15 square kilometre plot at Mohammed bin Zayed City.

Work is due to start immi­nently ... more

Emaar considers stock listings for hotels unit along with Turkish and Indian businesses

Mar 20 ,2016, city : Dubai

Emaar Properties is considering the flotation of overseas units and its hotels arm to generate more growth capital and to return cash to shareholders.

The company has told investors that it is looking to “monetise core assets" through further initial public offerings of business divisions, such as its Turkish and... more

Dubai World and MGM Mirage sells joint Las Vegas retail project

Mar 19 ,2016, city : Dubai

Dubai World and MGM Mirage sold their joint retail project in Las Vegas for US$1.1 billion, as the UAE entity continues on its road to recovery from the 2009 financial crisis.

Invesco Real Estate and Simon Property Group will take control of CityCenter’s The Shops at Crystals, a 324,000 square feet luxury shopping cen... more

Aldar contributes Dh48m to National Fund

Mar 17 ,2016, city : Dubai

Aldar Properties has announced that following approval by the Board of Directors, the Company will contribute a sum of Dh48 million to The National Fund.

The contribution reflects the priority that Aldar attributes to its corporate social responsibility as a leader in the community.

Mohamed Khalifa Al Mubarak... more

UAE’s wealthiest property investors favour London, New York

Mar 17 ,2016, city : Dubai

More than 61 percent of the UAE’s wealthiest individuals expect to make overseas property investments this year, with London and New York the preferred locations, a report has concluded.

Joint research by real estate consultancy Cluttons and YouGov found that investment appetite among UAE high net worth individuals (H... more

One-bed apartment in the price of a 'flashy' car number plate in Dubai

Mar 16 ,2016, city : Dubai

When it comes to buying exceptional or rare car registration plates, UAE residents are among the biggest spenders in the world.

The country holds the world record for the most expensive number plate ever auctioned – Plate No. 1 was auctioned for a staggering Dh52.5 million in Abu Dhabi in February 2008, as part of Emi... more

UAE's Aldar sets new dividend policy, may lead to bigger payouts

Mar 16 ,2016, city : Abu Dhabi

Abu Dhabi's Aldar Properties will introduce a new formula to calculate its dividends from 2016 onwards which could lead to higher payouts for shareholders, its chairman said on Wednesday.

The new policy is based on the underlying cashflow of Aldar's business, the company said in its annual report published on Wednes... more

Nakheel chairman calls recent dip in Dubai property market “a good correction”

Mar 16 ,2016, city : Dubai

The chairman of one of Dubai’s biggest developers has said that the dip in the city’s property prices has been positive.

The Financial Times reported that Ali Rashid Lootah said the downturn was a “good correction – we don’t want Dubai to be too expensive” during an industry conference in... more

Developer completes project to rejuvenate Dubai's Karama

Mar 15 ,2016, city : Dubai

Developer wasl properties has announced the completion of its wasl hub project which aims to regenerate the Karama district of Dubai.

wasl hub is spread across a 170,000 sq ft area, of which 60,000 sq ft has been allocated to more than 70 shops and 32 restaurants and cafes.

The project also features 312 one, ... more

Dubai's Meydan gets $476m in bank financing for new projects

Mar 15 ,2016, city : Dubai

Dubai's Meydan Group has signed a deal to obtain $476 million of financing from Qatar National Bank (QNB) and QNB's United Arab Emirates affiliate Commercial Bank International, Meydan said on Monday.

Meydan, a major developer of hospitality and entertainment facilities in Dubai including the Meydan Racecourse, said... more

Bonus for UAE residents: When you will spend least on rents in Dubai, Abu Dhabi

Mar 15 ,2016, city : Dubai

Here is the good news that residents of Dubai and Abu Dhabi have been hoping for: The residential rental market is on way to bottom out.

Addressing the 2016 Real Estate Development and Investment Meet, Craig Plumb, Head of Research at JLL Mena said residential rents in Dubai could bottom out by as early as fourth quarter 20... more

Nakheel targets European investors with projects worth $1bn

Mar 14 ,2016, city : Dubai

UAE master developer Nakheel is targeting European investors with a diverse range of products worth $1bn (AED4bn) as it attends real estate event, MIPIM in France for the first time.

Investment opportunities include around 100 land plots for commercial, residential or hotel development and around 1,000 built-form residentia... more

Dubai office supply 'to grow 7% in 2016' – report

Mar 13 ,2016, city : Dubai

Office supply in Dubai will grow by 7 percent in 2016, with most of the growth taking place in Business Bay, according to new research.

Core Savills’ first quarter 2016 Dubai Office Market report stated: “The development pipeline in Dubai indicates a further 7 percent prime and secondary sector supply growth in ... more

Dubai's Nakheel inks deal to advise on Saudi mixed-used projects

Mar 12 ,2016, city : Dubai

Dubai's Nakheel has signed an agreement to provide technical support to Saudi developer Al Akaria for a range of new, mixed-use projects in and around Riyadh.

The two companies have signed a memorandum of understanding under which Nakheel will apply its expertise in master planning, design, construction management, mall... more

New Abu Dhabi property law will keep rents 'reasonable'

Mar 11 ,2016, city : Abu Dhabi

Abu Dhabi’s new property law is set to boost growth and will lessen the impact of potential cyclical economic factors on the market, according to industry experts.

The effect of the recently implemented Regulation of Real Estate Sector in Abu Dhabi on financing and mortgage enforcement will be one of the core topics d... more

Damac releases first hotel rooms for sale in Aykon City project

Mar 11 ,2016, city : Dubai

Damac Properties has announced the launch of a limited release of hotel rooms within its Aykon City project, overlooking the Dubai Canal.

The product allows investors to own a hotel room in Tower B, a 63-storey serviced hotel residences property to be operated by Damac Maison, the developer said in a statement.


Abu Dhabi fund set to finance Latin American property deal

Mar 10 ,2016, city : Abu Dhabi

GP Investments Ltd , Latin America's largest private equity firm, has reached a deal with a subsidiary of Abu Dhabi's sovereign fund to secure funding for the purchase of about 70 percent of Brazilian real estate company BR Properties.

GP said in a securities filing on Thursday that THB JV, an indirect subsidiary of... more

Dubai group to invest $66m in second Dublin student housing project

Mar 10 ,2016, city : Dubai

Dubai-based Global Student Accommodation (GSA), which operates thousands of student beds in the Middle East and Europe has announced plans to invest in $55 million (€60m) in a Dublin city centre student accommodation facility.

The 500-bed, seven-storey student accommodation, located on Dublin’s Gardiner Street, w... more

Chinese investors hunt for property bargains in Dubai

Mar 10 ,2016, city : Dubai

As Chinese property investors heat up prices in many of the world's biggest cities, China buyers are now searching beyond traditional hot spots for bargains and higher returns, ranging from land in Dubai to student housing in Manchester.

The investors range from wealthy individuals and private equity funds buying reside... more

Dubai's new Emirates Hills in the making with metro links to airports

Mar 10 ,2016, city : Dubai

Dubai Hills Estate, a mega development by Emaar Properties and Meraas Holding within Mohammed bin Rashid City (MBR) City, will house 26,400 residential units and will have its own rail line connecting to the emirate’s two international airports.

“Work on the golf course has made significant progress and the init... more

Another UAE mall goes for expansion, completion in 2018

Mar 9 ,2016, city : Abu Dhabi

Aldar Properties, Abu Dhabi-listed property development, investment and management company, has awarded a Dh318 million contract for Al Jimi Mall’s refurbishment and expansion works to Pivot Construction Company.

This investment is the latest component of the company’s recently announced Dh3 billion investment s... more

Dubai developers keep building despite weak market and echoes of 2008

Mar 8 ,2016, city : Dubai

Dubai developers are pressing ahead with their construction plans despite expectations that property prices will fall yet further this year, undaunted by memories of a 2008 crash.

Industry consultants say that while sales volumes have slumped in the emirate, structural changes to the market such as tighter regulations toget... more

New Abu Dhabi property laws seen cutting oversupply risk

Mar 7 ,2016, city : Abu Dhabi

Real estate experts are expecting new property laws in Abu Dhabi to drive growth and have called for a measured response over the impact of the potential oil output freeze.

The effect of the recently implemented Regulation of Real Estate Sector in Abu Dhabi on financing and mortgage enforcement will be one of the core topic... more

Dubai's first Dukes branded hospitality project 90% sold

Mar 5 ,2016, city : Dubai

Dubai-based luxury property developer Seven Tides has announced that one-bedroom hotel apartments at the 2015-released British-themed Dukes Dubai project on Palm Jumeirah are now 90 percent sold out.

The company said in a statement that GCC investor interest is outperforming a challenging market environment.

... more

Dubai's prime property market among world's worst performing in 2015

Mar 4 ,2016, city : Dubai

Prime residential property markets in Dubai and Doha have been named among the world's worst performing during 2015, according to a new report.

Dubai was ranked 96th out of 100 real estate markets analysed with a property price decline of 5.5 percent.

The downturn in Dubai’s property market will con... more

UAE real estate deals up 18% so far in 2016, says property agent

Mar 3 ,2016, city : Dubai

Real estate transactions in the UAE are up by 18 percent so far this year, bucking the trends seen during 2015, according to property agent Allsopp & Allsopp.

While reports from developers and analysts indicate Dubai’s real estate market has seen prices drop over the past 18 months with the trend likely to continu... more

Who isn't letting residential rents to fall in Dubai?

Mar 3 ,2016, city : Dubai

For one real estate expert, this is something unique to Dubai real estate market: Landlords prefer keeping their apartments vacant than lease at lower rates.

“With vacant properties, where in other markets you would expect landlords need to fill them urgently, most landlords in Dubai are not constrained by financial o... more

Dh55m compensation for 113 Sharjah property owners

Mar 2 ,2016, city : Sharjah

His Highness Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, on Tuesday approved disbursement of Dh55 million in compensation for 113 owners of properties that were affected by development projects in the emirate.

The disbursement will be conducted next week, Chairman of the Finance De... more

Why Abu Dhabi developers can face fine of up to Dh2 million

Mar 2 ,2016, city : Abu Dhabi

Only 30 days are left for the developers in Abu Dhabi to apply for a licence and register with the Department of Municipal Affairs (DMA), with those failing likely to face fines of up to Dh2 million.

“Developers now need to act swiftly to meet short deadlines imposed by the law to avoid incurring considerable penaltie... more

Dubai rental slide continues; property prices up marginally in Jan

Mar 2 ,2016, city : Dubai

There is good news for renters and the real estate industry.

Residential rents are continuing to slide, with reporting a decline of 1.57 per cent alone in January 2016.

<... more

Dubai-based firm says will open 'world's greenest resort' in 2020

Mar 1 ,2016, city : Dubai

Dubai-based Eco Resort Group says it has launched Oasis Eco Resort, the world’s greenest eco resort.

The resort will be located in Liwa, the southern region of UAE, and is scheduled to open in 2020.


Why it’s cheaper to buy a house in Dubai than pay monthly rent

Mar 1 ,2016, city : Dubai

Dubai has been rated as the most “affordable” city to purchase a home in, as compared to other major international hubs across the globe, according to Savills World Research.
The conclusion is based on a comparison of the emirate with London, New York, Hong Kong, Paris, Mumbai, Singapore and Sydney.
... more