Latest Real Estate News in UAE

Revealed: which Dubai apartment types are seeing rental rents rise or fall

Nov 30 ,2015, city : Dubai

Limited new supply and rising population levels saw overall rental levels remain largely stable in Dubai during the month of October, but rates and yields for landlords varied depending on the size of the property, according to data compiled by UAE real estate listings website Bayut.com.

Overall apartment rental levels acro... more

Dubai’s Kanoo Group unveils villa project

Nov 30 ,2015, city : Dubai

UAE-based conglomerate The Kanoo Group, in partnership with Core Savills, has launched the Kanoo Villas in Dubai's Jumeirah 3 neighbourhood.

Available to lease from November 2015, the Kanoo Villas is a community comprising 11 contemporary residential properties and a host of community facilities located right in the hea... more

Bahrain subsidy cuts likely to hit real estate market demand

Nov 28 ,2015, city : Dubai

Plans by the Bahraini government to remove fuel and utility subsidies are likely to have a long term impact on the kingdom's industrial and residential property markets, according to real estate consultants, Cluttons.

Last week, the country's minister for industry and commerce said Bahrain is planning more subsidy c... more

2-bed serviced apartments in Abu Dhabi for under Dh150,000

Nov 27 ,2015, city : Abu Dhabi

A new property in downtown Abu Dhabi has introduced a lucrative offer for its two-bedroom apartments as part of its inaugural promotion.

In a media statement, the recently opened Jannah Place Abu Dhabi said it is currently leasing new, two-bedroom serviced apartments in the heart of downtown Abu Dhabi for a special price of... more

Dubai will be home to two replicas of Paris Eiffel Tower

Nov 27 ,2015, city : Dubai

Dubai has already announced a mini world park and a mega development that will be home to the wonders of the world. Now, an Indian state is working on building the replica of iconic structures.

In fact, the West Bengal state government is constructing a scale model of the Eiffel Tower near Kolkata as a tribute to the victim... more

Abu Dhabi-owned developer sells London apartment for $30m

Nov 27 ,2015, city : Abu Dhabi

A luxury London apartment that will overlook Buckingham Palace was bought off-plan for $30 million, the project’s Abu Dhabi-owned developer has revealed.

Northacre Plc, the developer 70 percent owned by Abu Dhabi Financial Group, has reportedly sold 29 of the 72 luxury residences at No. 1 Palace Street in six months.<... more

Some landlords in Dubai ready to lower rents to fill apartments

Nov 26 ,2015, city : Dubai

Rents in Dubai remained stable in the third quarter 2015, brining comfort to the residents, Cluttons said.

Average rents fell 3.2 per cent in the past one year, with three-bed villas in the Springs, Jumeirah Village, Al Reem, Falcon City and The Villa reporting declines in the nine month period, the consultancy said in its ... more

Dubai property market likely to bottom out by end-2016

Nov 25 ,2015, city : Dubai

House prices in Dubai are likely to continue to decline for another year with the market bottoming out at the end of 2016, Cluttons said on Wednesday.

According to its Dubai 2015/16 Winter Residential Property Market Outlook, values for both apartments (-0.8 percent) and villas (-0.5 percent) dipped marginally during the th... more

Housing a lure: How to get Bentley 'free' in Dubai

Nov 24 ,2015, city : Dubai

Incentives are back in the Dubai property market to entice buyers, who have adopted the wait-and-watch policy, with developers waiving registration fees to service charges and even offering luxury cars.

The latest to join the bandwagon is the developer of Sparkle Tower in Dubai Marina - the tower that will glitter with Swar... more

GCC buyers rush to snap up Turkish real estate since law change

Nov 23 ,2015, city : Dubai

Nearly a quarter of foreign buyers in Turkish real estate come from the Gulf region with a 500 percent increase since 2012, according to new research.

Following the 2012 liberalisation of foreign investment law in Turkey, there has been a five-fold rise in investment from the GCC, which accounts for 24 percent of the total,... more

Business Bay, and beyond: Dubai office space hunt stabilising

Nov 22 ,2015, city : Dubai

Following a period of strong growth, Dubai’s office market is showing signs of stabilising, with average rents remaining virtually unchanged across all the city’s major submarkets and free zones, according to Cluttons.

The consultancy’s ‘Winter 2015/16 Dubai Commercial Market Outlook’ report re... more

Dubai Holding targets long-term investments

Nov 19 ,2015, city : Dubai

Dubai Holding, a government-owned international investment group, is targeting long-term investments worldwide in its push to maximise revenue for the emirate and diversify its income sources, a senior company executive has said.

Ahmad bin Byat, Vice Chairman and Managing Director, said Dubai Holding controls investments in... more

Falling property prices seen helping Dubai to stay competitive

Nov 19 ,2015, city : Dubai

The decline in Dubai property prices will help to keep the emirate competitive as a regional business hub, according to the CEO of Investment Corporation of Dubai.

Mohammed Al Shaibani, also director general of the Dubai Ruler’s Court, told Bloomberg that the oversupply of homes will take some time to be absorbed by t... more

Dubai gets heart-shaped island with hotel, floating homes

Nov 18 ,2015, city : Dubai

The Heart of Europe (THOE) project, one with snow and rain-filled streets, on Dubai’s The World will now have a heart-shape island, Emirates 24/7 can reveal.

“St Petersburg Island has now been re-designed into the shape of a heart, taking inspiration from The Maldives and some of the world's finest holiday r... more

Dubai office market set to see slowdown over next year

Nov 18 ,2015, city : Dubai

Following a period of strong growth, Dubai’s office market is showing signs of stabilising, with average rents remaining virtually unchanged across all the city’s major submarkets and free zones, according to Cluttons.

Its Winter 2015/16 Dubai Commercial Market Outlook report said that overall, prime, secondary ... more

Saudi-Qatar joint venture launches luxury residences on Palm Jumeirah

Nov 17 ,2015, city : Dubai

A collection of 104 luxury homes on Dubai’s Palm Jumeirah have been launched for sale by Saudi-Qatar joint venture Al Sharq Investment, it announced on Monday.

The JV between Saudi Arabia’s Al Sharq Group and Qatar’s Al Mana Global is building Alef Residences on a 46,840 square metre plot of land on the Pa... more

8 out of 10 residents want to buy property in UAE: Survey

Nov 17 ,2015, city : Dubai

Majority of UAE residents want to own a property in the country, but higher property prices is a concern, according to a finance comparison website.

A report issued on Monday by compareit4me.com said 76 per cent of residents wanted to buy a property in the country, but listed various factors, mainly high property prices, am... more

NRIs in UAE save 40% of disposable income: Report

Nov 17 ,2015, city : Dubai

Forty-three per cent of UAE-based Non-Resident Indians (NRIs), between ages 18 and 35 years, are more inclined to buy property back home, a new survey reveals.

“This trend has been strengthening in the past one decade. While earlier, we saw older people planning and saving to buy property, today more young people want... more

Dubai Tenant Guide: Should you pay property agent's fee on rent renewal?

Nov 16 ,2015, city : Dubai

For the past few weeks, Aslam (name changed), a resident of Dubai Marina, had a harrowing time after he renewed his rent contract directly with his landlord.

Thereafter, the agent, through whom he had first rented the apartment, continued calling him to pay Dh1,000 as ‘renewal’ fee despite not being party to the... more

Dubai sees rate of property price declines slow in Q3

Nov 14 ,2015, city : Dubai

The pace of price declines in Dubai's real estate market has slowed during the three months to October, according to Emirates NBD's latest Dubai Real Estate Tracker survey.

It said there was an improvement in the new buyer enquiries index and the new international buyer enquiries index, particularly for apartments, ... more

Dubai property deals hit $50bn in first nine months of 2015

Nov 7 ,2015, city : Dubai

Dubai Land Department has said that the total amount of real estate transactions in Dubai for the first nine months of 2015 was AED186.3 billion ($50.7 billion).

The government department said in a statement that it saw 33,907 transactions during the nine months.

It did not give a like-for-like comparison to ... more

7 good reasons for Indians to buy property in Dubai

Nov 5 ,2015, city : Dubai

Indians have been investing billions of dirhams in Dubai’s real estate market for years now, assured of higher yields, capital appreciation and a status symbol of being part of the world’s most dynamic city.

In the first nine months of 2015, Indians have invested Dh713billion, topping the list of expatriate buye... more

Expats buying Dubai property: Indians Dh13bn, Britons Dh7bn, Pakistanis Dh5bn

Nov 4 ,2015, city : Dubai

Indians invested a whopping Dh5.2 billion in Dubai’s real estate market in the third quarter 2015, taking their total investment to Dh13bn in the first nine months.

In the first quarter 2015, Indians, who once again topped the list on non-Arab expatriate buyers, invested Dh3.04bn followed by Dh4.76bn in the second qua... more

Dubai real estate registration fee remains at 4%: DLD

Nov 3 ,2015, city : Dubai

The real estate registration fee currently set at 4 per cent will not be increased, the Dubai Land Department (DLD) said in a statement.

“We do not plan to raise the charges, which are collected from customers to complete their real estate transactions, but penalties will be applied on fees evasion according to resolu... more

Dubai developers waive 4% property registration fee

Nov 3 ,2015, city : Dubai

Dubai property developers are waiving off four per cent property registration fees in order to attract new buyers to their off plan or under-construction projects, ‘Emirates 24|7’ can reveal.

Azizi Developments, which is building a number of residential projects in Al Furjan, will be paying the four per cent reg... more

Abu Dhabi property law: Investor can cancel off-plan contract, get refund

Nov 3 ,2015, city : Abu Dhabi

Property projects that face delays in starting or fail to complete can be cancelled by the Department of Municipal Affairs (DMA) as per the new property law issued in Abu Dhabi, a top UAE law firm said in a note issued on Monday.

Investors can also seek termination of off-plan sales contracts in cases where there has been a... more

Dubai property chief says no plan to raise registration fees

Nov 2 ,2015, city : Dubai

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

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

Dubai announced in September 2013 that it wo... more

Dubai unit owners face hefty fine for missing property registration deadline

Nov 2 ,2015, city : Dubai

The Dubai Land Department (DLD) has ruled out any extension for property investors who have missed registering their units before the October 31, 2015 deadline.
 
Investors who missed the deadline can now face penalties, which in some cases could be eight per cent of the registration fee, Emirates 24|7 can reveal.
... more

Cheapest residential community to rent in UAE capital? Al Ghadeer

Nov 1 ,2015, city : Dubai

Residential rents in Abu Dhabi rose five per cent in the third quarter 2015 compared to the same period last year, with renters moving to outskirts of the city, according to a new report.

Nationwide Middle East Properties, a real estate agency, said renters were heading towards Mohammed Bin Zayed City, Khalifa City and othe... more

Mortgages overtake cash deals as Dubai property sales hit Dh186bn

Nov 1 ,2015, city : Dubai

The total real estate transactions in Dubai reached Dh186 billion in the first nine months of 2015, with the Dubai Land Department (DLD) asserting “the market was heading towards a sustainable growth”.

The total number of transactions during the period were 33,907 with sales accounting for Dh78bn, while mortgage... more

Why invest in Dubai: Property returns beat London, New York

Nov 1 ,2015, city : Dubai

Capital appreciation has been one of the prime reasons for global investors to buy property in Dubai and now a report from an international real estate consultancy ratifies their decision.

A price comparison of the last five years (2010-2014) for global cities by Knight Frank, the UK-based consultancy, reveals that Dubai ou... more

Dubai's Emaar Properties Q3 revenue soars 56% to nearly $900m

Nov 1 ,2015, city : Dubai

Dubai's Emaar Properties, builder of the world's tallest tower, reported a 31 percent rise in third-quarter net profit on Sunday as revenue surged by an even faster rate.

The developer, in which Dubai's government owns a minority stake, made a net profit of AED843 million ($229.5 million) in the three months to ... more