Latest Real Estate News in UAE

Arabtec CEO Invests $1bn In Company, Increases Stake To 21.46%

May 31 ,2014, city : Dubai

The chief executive of Arabtec Holding has raised his stake in the Dubai-based contractor to 21.46 per cent, the company said, in an investment worth about $1 billion which it described as a vote of confidence in the group’s prospects.

Hasan Ismaik, who has been leading a growth strategy at the company since taking ch... more

Dubai Add Bulgari Hotels and Resorts To Its Luxury Collection

May 30 ,2014, city : Dubai

Dubai based real estate developer Meraas Holding has signed agreement with Bulgari Hotels and Resorts to develop the fifth luxury hotel of the hospitality company in Dubai.

The other four ventures of Bulgari Hotels and Resorts are located in Bali, Milan, Shanghai and London.

The new hotel is located on Jumeir... more

Hundreds of Abu Dhabi tenants defrauded by bogus landlords

May 30 ,2014, city : Abu Dhabi

ABU DHABI // Hundreds of tenants have been defrauded by bogus landlords and property agents who rent one home to several families and then disappear before the scam is uncovered.

Police in Abu Dhabi have investigated 211 cases of property fraud in the past 15 months, 66 of them in the first three months of this year.
... more

Jewel Of The Creek Promises Competition In Q3 2017

May 29 ,2014, city : Dubai

The construction of Dubai’s Jewel of the Creek project is expected to gather momentum as the developer has awarded another development contract worth $395 million.

Dubai International Real Estate, the developer behind the project worth Dh3 billion on Dubai Creek, has awarded another contract to Habtoor Leighton Group ... more

Joint Venture Launches Dolphin City In DMC

May 29 ,2014, city : Dubai

Dubai Maritime City (DMC) has publicised the launching of The Dolphin Residence, a freehold luxury development featuring offices, shopping mall, mosques, private residences, mosque and other leisure facilities.

In a bid to deliver the project within three years DMC has joined hands with Al Ali Property and Sharaf Investment... more

Developer Awards Contract Worth Billions For Shopping Mall

May 28 ,2014, city : Dubai

The developer of the man-made palm island of Dubai has publicised the awarding of a Dh 1.2 billion contract for the development of Nakheel Mall on Palm Jumeirah.

The contract has been awarded to United Engineering Construction and Actco General Contracting Company. The construction of the eagerly awaited mall of Palm Jumeir... more

Discovery Gardens To Boost Accessibility Through A New Road

May 28 ,2014, city : Dubai

A new road featuring two lanes and an accommodation of 15,000 vehicles per hour is to be developed by Road and Transport Authority by the year’s end. The development will be a parallel access from Sheikh Zayed Road to Discovery Gardens.

The new road hails as a saviour for the traffic troubled residents of Discovery Ga... more

Dubailand Welcomes Development Of 200 Villas In Mudon

May 27 ,2014, city : Dubai

Dubai Properties has launched more than 200 villas in Mudon community of Dubailand. The villas will consist of three, four and five bedroom units and are priced from Dh3 million.

Dubai Properties is the development arm of Dubai Properties Group that is currently working on a number of projects including the villas in Rahat,... more

Seven Tides Creates Waves On Palm Jumeirah

May 27 ,2014, city : Dubai

Seven Tides, a UAE based property developer, has launched the first phase of the construction of its luxury project on Palm Jumeirah.

The first phase is named as Anantara North Residencies and consists of forty seven two-bedroom deluxe apartments, featuring exotic sea views.

The prices of the said apartments ... more

Developer Hires Architect To Resume Construction Of Reem Mall

May 27 ,2014, city : Abu Dhabi

National Real Estate Company of Kuwait has appointed Dubai based architects, RTKL Associates, to work on the stalled $1 billion Reem Mall.

The new architect will enable the developer to complete the construction of the mall by 2018. The construction works is set to resume in 2015.

As per the plans of National... more

Joint Venture Launches Management Firm To Benefit From Dubai’s Hospitality Market

May 26 ,2014, city : Dubai

Hansa Hotels and Five Continents Hotels have joined hands to launch a project management firm, Five Continents Hospitality, which will assist hotels by providing them quality services on contracts.

The joint venture also saw the signing of three new five star properties that will be developed under the management of the new... more

Corporate Ratings Firm Guarantees Competition Of All New Dubai Projects

May 26 ,2014, city : Dubai

Standard and Poor Rating Services has publicised, in a recent report, that the new real estate projects in Dubai will be completed even with the weakening of the market or the advent of any correction.

The company is of the view that the profit margins of Dubai developers are over 50 per cent which can easily allow them to ... more

UAE firms benefit as Qatar gears up for Fifa World Cup with construction projects

May 25 ,2014, city : Dubai

Companies based in the UAE are among the big winners after billions of riyals worth of construction projects were awarded in Qatar yesterday as the country gears up its preparations to host the first Fifa World Cup in the Middle East, which is expected to bring in an influx of up to 3.5 million football fans.

Construction o... more

Abu Dhabi UPC Says Yes To 13 New Development Projects

May 23 ,2014, city : Abu Dhabi

Abu Dhabi Urban Planning Council has approved 13 development projects that would add to the strengthening of the property market of the emirate.

The 13 projects cover a total area of four million square metres and to the joy of the property investors of Abu Dhabi, 70 per cent of the area is dedicated to the residential deve... more

Deyaar buys land at Maritime City

May 23 ,2014, city : Dubai

Dubai’s second biggest DFM-listed real estate firm, Deyaar Development has signed an agreement deal with Dubai Maritime City to acquire 70,226.53 sq feet of land located at the Marina District within the zone, Gulf Today has reported. “The plot is well-positioned and will give us an opportunity to build a beachside project, wh... more

Dubai property prices almost near 2008 peak levels: S&P

May 22 ,2014, city : Dubai

Residential property prices in Dubai are almost reaching 2008 peak levels, with the market not likely to see any major price correction in the short term, Standard and Poor’s, a global ratings agency, said on Wednesday.

“We have seen growth and strong performance of real estate in Abu Dhabi and Dubai over the pa... more

DAMAC Devises New Tactics To Curb Flipping

May 22 ,2014, city : Dubai

DAMAC Properties claims to be quite strong in its policy of preventing flipping of its property units and states that imposing rules cannot stop property flipping.

The company is of the view that imposing rules on the customers fails to work as people always find different methods to make agreements with interested buyers a... more

Dubai smart city with air-conditioned pathways

May 20 ,2014, city : Dubai

Dubai Municipality has announced plans to build Desert Rose, a smart sustainable city in the shape of a desert flower after it was approved by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

“The project will be located in between Al Ruwaya and Al Aw... more

Dubai to be fastest growing timeshare market

May 20 ,2014, city : Dubai

Dubai is set to be the fastest growing timeshare market in the world due to the significant increase in the number of tourists, real estate prices and hotel room rates in the emirate over the next decade.

According to a report, A Slide of Paradise, released by Arabian Falcon Holidays (AFH), the largest independent timeshare... more

Abu Dhabi To Fall Short Of 51,000 Residential Units In 2014

May 19 ,2014, city : Abu Dhabi

Yes, queer as it may sound, Abu Dhabi seems to be running out of real estate supply! According to the latest report of Colliers, the increase in demand of the residential units in Abu Dhabi may lead the capital emirate to witness a shortage of residencies as we move towards the end of 2013.

In a report, titled as Abu Dhabi ... more

Dubai To Regain The Title Of "Crane Capital Of The World"

May 19 ,2014, city : Dubai

Chesterton, an international property agency, is of the view that as Dubai gains further momentum in the construction industry, it will once again become the crane capital of the world.

In 2008, when the real estate market was at its peak, Dubai herald as the crane capital of the world with 25 per cent of world’s cran... more

Tune in to the top FM trends

May 18 ,2014, city : Dubai

 A turnaround in real estate market and demands for energy-efficient buildings and smart solutions are among the factors behind the growing facilities management (FM) industry in the GCC.Data provided by the Middle East Facility Management Association (MEFMA) shows about $21.8 billion (about Dh80 billion) being spent on FM in the reg... more

Sharjah Mulls Over New Laws For Mortgage and Realtors

May 16 ,2014, city : Dubai

Sharjah Real Estate Registration Department (RERD) is presently working on two new laws related to mortgage and the real estate brokers operating in Sharjah. The department claims that the new laws will be released before the end of 2014.

Real Estate Registration Department director general Hamad Salim Al Mazroua said that ... more

Excessive Concentration In Hospitality Lowers Emaar’s Villa Sales

May 16 ,2014, city : Dubai

Emaar Properties has publicised that its total revenue from the villa sales has dropped by 17 per cent during the first quarter of the current year. The master developer said that it managed to extract more profits from the hospitality sector instead.

The total revenue generated from the villas stood at Dh 256.91 million in... more

Sharjah plans to issue new laws for realtors, mortgage by year-end

May 16 ,2014, city : Sharjah

The Sharjah Real Estate Registration Department is currently working on two new laws related to real estate brokers and mortgage, which are likely to be released before year-end.

In an interview to Al Bayan newspaper, Hamad Salim Al Mazroua, Director General of the Department, said that they would finish studying the draft ... more

UAE expats look to invest in property before post-poll price surge in India

May 16 ,2014, city : Dubai

Non-Resident Indians (NRIs) in the UAE are looking to invest in Indian real estate market sooner, as property prices and Rupee are expected to strengthen post formation of a new government.

“Home buyers across eight of 10 cities surveyed expect real estate prices to go up over the next six months,” the Housing S... more

Shah Rukh Khan Re-launches SRK Boulevard In Ras Al Khaymah

May 15 ,2014, city : Ras Al Khaimah

Muslim actor Shah Rukh Khan is re-launching his Dh 8 billion project in Ras Al Kahimah. The project was put on hold in 2008 when the real estate market of the UAE suffered the most terrible crash in its history.

SRK Boulevard project was launched in 2007 and it promised several hotels, a shopping centre and other commercial... more

Dubai’s residential property market showing signs of cooling down

May 13 ,2014, city : Dubai

Dubai’s residential property market is showing signs of more modest growth in the first quarter of 2014, following 2013’s demand that lifted values by 51%.

Cluttons’ latest research highlights that, as regulations aimed at cooling the pace of growth begin to take effect, Dubai is witnessing a more moderate... more

Developer Damac Real Estate Q1 net profit up 79% on Dubai growth

May 13 ,2014, city : Dubai

Damac Real Estate said on Tuesday that its net profit for the first quarter rose 79 percent as the developer benefited from buoyant conditions in its Dubai home market.

Net profit for the first three months of 2014 was $210 million compared to $117 million in the corresponding period last year, it said in a regulatory filin... more

Abu Dhabi's Waha Capital Q1 profit jumps 78 pct

May 13 ,2014, city : Abu Dhabi

Abu Dhabi investment company Waha Capital posted a 78-percent jump in first-quarter profit on Tuesday as the sale of its stake in AerLift Leasing boosted the Waha Capital's net profit in the three months to end-March rose to 152 million dirhams ($41.4 million) from 85 million dirhams a year earlier, it said in a statement.

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UAE Outperforms Emerging Markets Driven By Non-Oil Sector Growth

May 13 ,2014, city : Dubai

 The UAE’s non-oil sectors are driving the economy and outperforming oil sectors, with manufacturing and hospitality at the forefront of growth, according to Arjuna Mahendran, chief investment officer of Emirates NBD.

Although traditionally the non-oil sectors that usually drive growth are real estate and constru... more

Aldar Sees Project Completions Driving Revenue Growth

May 12 ,2014, city : Abu Dhabi

Payments for completing projects should drive revenue growth at Aldar Properties in the next two quarters, as the largest property developer in Abu Dhabi benefits from a rebound in the local real estate market, its finance chief said.

Abu Dhabi’s real estate market slumped by about 50 per cent from its peak in 2008 af... more

Slow Q1 Growth In Dubai’s Property Prices, But Rents Continue To Boom

May 12 ,2014, city : Dubai

Dubai’s residential property market growth has returned to a moderate pace after prices surged in 2013, real estate consultancy Cluttons said in a new report.

The Expo 2020 win and the ensuing economic growth have led to a strong demand for residential property in the emirate, lifting average values by 51 per cent in ... more

DPG Launches 200 Units At Remraam Community

May 11 ,2014, city : Dubai

Dubai Properties’ (DP) Remraam community in Dubailand is set for an expansion with the launch of 200 units for sale.

DP, the project development arm of Dubai Properties Group (DPG), said the units, ranging from studios to three-bedroom apartments, was in response to strong demand for “competitively-priced, conve... more

$212 Billion Projects Under Construction In The UAE

May 11 ,2014, city : Dubai

Construction projects worth $212 billion (Dh778 billion) are under construction in the UAE but only $25.3bn (Dh93 billion) projects are in the tendering or pre-tender phase, which is a worrisome for the sector’s sustainability, Business Monitor International said in its Q2 2014 update.

“We have logged $313bn (Dh... more

Dubai residential price growth slows dramatically in Q1

May 10 ,2014, city : Dubai

Prime residential prices in Dubai rose by just 0.6 percent during the first three months of 2014, signalling a slowdown in growth in the emirate's booming real estate market.

According to Knight Frank's latest Prime Global Cities Index for Q1, Dubai's price growth between December 2013 and March was lower than t... more

Arabtec Holding Records 121% Escalation In Profits

May 9 ,2014, city : Dubai

Dubai: Arabtec Holding, the builder of the world’s tallest building, the Burj Khalifa, on Wednesday reported a net profit of Dh138 million for the first quarter of 2014, a 121 per cent jump from a year ago.

The revenues of Dubai’s largest listed construction company went up by 39 per cent, from Dh1.545 billion t... more

Dubai Metro extension set to boost property prices, say experts

May 8 ,2014, city : Dubai

Property prices near the Dubai Metro have risen in the past and experts believe they are set to do so again as the network is extended ready for Expo 2020

Extensions to the Dubai Metro network are likely to boost property prices in the area, say market experts.

The extension includes doubling of the Green Lin... more