Latest Real Estate News in UAE

Saudi's Sedco eyes $300m European real estate deal

Oct 31 ,2014, city : Dubai

Jeddah-based Islamic investment firm Sedco Capital plans to arrange a club investment of up to $300 million in European real estate, and will soon distribute its Luxembourg fund range via two European investment firms, its chief executive said.

Sedco Capital, a fully owned subsidiary of Sedco Holding, already distributes it... more

Home by the sea: Prime locations in Abu Dhabi see spike in demand

Oct 31 ,2014, city : Abu Dhabi

 Abu Dhabi: The residential market in Abu Dhabi is witnessing high demand for units in prime areas such as Saadiyat Island as more residents look for good quality units to purchase and live in, according to Mahmoud Dandashly, commercial director at Saadiyat Development and Investment Company (SDIC).

“From our exp... more

Two units in Burj Khalifa to go under hammer online

Oct 31 ,2014, city : Dubai

Two apartments in Burj Khalifa, the world’s tallest tower, will be auctioned online next week, according to listings by Emirates Auction.

The reserve price for the one-bed unit (1,378 square feet) starts at Dh4.85 million, while the minimum price for the two-bed (1887.99 square feet) is put at Dh6.3 million.
more

Developers launch new apartments project in Dubai Silicon Oasis

Oct 30 ,2014, city : Dubai

UAE-based conglomerate Gulf General Investment (GGICO) and Orion Holdings have announced that it has launched Platinum Residences in Dubai Silicon Oasis which is slated for completion next year.

The Italian-designed project, comprising of two towers, features 200 apartments and is due for completion in April 2015, the compa... more

India to build on relaxed foreign investment rules

Oct 30 ,2014, city : Dubai

India has eased foreign investment rules for its construction sector in a move that is expected to attract much-needed funds and boost property development.

The cabinet, chaired by the prime minister, Narendra Modi, on Wednesday approved measures which included halving the minimum foreign direct investment (FDI) requirement... more

Luxury by the lake in Dubai comes with a Dh20m price tag

Oct 30 ,2014, city : Dubai

Fancy yourself as part of the global elite? Well, here’s an address that may fulfil your high expectations.

A new five-bedroom villa is up for grabs at a price of Dh20 million at Dubai’s Jumeirah Islands Mansions.

With views of shimmering lake water, the location of this recently completed home is... more

Sharjah Rents Up Around 18% In Q3 As Dubai’s Rental Growth Slows

Oct 30 ,2014, city : Sharjah

Rental rates across Sharjah grew two per cent quarter-on-quarter during Q3 2014, in line with a slowdown in Dubai’s property market, according to a report by property consultant Asteco.

The Q3 increase was slightly higher on a year-on-year basis where the rents for high-end properties rose 19 per cent in Sharjah while... more

Retail and hospitality now make up 54% of Emaar revenues

Oct 29 ,2014, city : Dubai

 Dubai

Newly-listed Emaar Malls generated revenues of Dh1.89 billion for the first three quarters, 15 per cent higher than for the comparable period last year (Dh1.64 billion. The Dubai Mall continued to be the biggest contributor to Emaar’s retail-side operations, drawing in 58 million visits in the first nine m... more

Sharjah’s rental spike could be running out of steam

Oct 29 ,2014, city : Sharjah

 Dubai: The intense pressure on Sharjah’s residential rents, partly driven by extensive relocations from Dubai, seems to be easing up. During the third quarter, rental gains were limited to a 2 per cent gain in Sharjah, according to findings by Asteco. On a year-on-year basis, Sharjah’s rents were up by 18-19 per cent, wi... more

Dubai’s developers now have an eye on finish line

Oct 29 ,2014, city : Dubai

 Dubai: Dubai’s developers are now starting to use completion timelines as a unique selling point for off-plan projects. With demand for ready properties continuing to run high, and simultaneously depleting available stock, developers are rushing in to build new and, just as important, deliver within the shortest possible time ... more

Emaar Properties Q3 Profit Rises 21%

Oct 29 ,2014, city : Dubai

Emaar Properties, the builder of the world’s tallest tower, reported a 21 per cent rise in third-quarter net profit on Wednesday, in line with an analyst estimate.

The Dubai-based developer, in which the government has an 31.2 per cent stake, posted a net profit of Dhs701 million ($206.38 million) in the three months ... more

Dubai’s version of Beverly Hills just got that little bit bigger

Oct 29 ,2014, city : Dubai

Damac’s Beverly Hills and Barcelona-inspired shopping strip The Drive by Akoya in Dubai is to be extended.

The developer said the project will now, due to high demand, extend from 1.3 kilometres to 2.5km — making it one of the longest strips in the region.

“We have seen such a positive respo... more

Dubai's Emaar posts 21% jump in Q3 net profit

Oct 29 ,2014, city : Dubai

Dubai's Emaar Properties, the builder of the world's tallest tower, reported a 21 percent rise in third-quarter net profit on Wednesday.

The rise came despite a fall in revenue stemming from a second successive quarterly drop in home sales as the emirate's property market showed further signs that recent rampant... more

Most Dubai rents continue to fall in Q3, says regulator

Oct 29 ,2014, city : Dubai

Rents in several areas of Dubai, including Downtown Dubai, JBR, Greens Community and Arabian Ranches, witnessed a decline in the third quarter of 2014, according to the latest figures on the official rent index of Real Estate Regulatory Agency (RERA).

The figures also show, however, that rental prices increase in areas like... more

Dubai rents fall: Greens, Marina, Springs, Ranches drop

Oct 29 ,2014, city : Dubai



Rents are falling in Dubai's prime areas as tenant demand diverts to other not-so-posh locations of the emirate.

Downtown Dubai, Jumeirah Beach Residence (JBR), Greens Community, Meadown, Springs and Arabian Ranches witnessed a decline in rental prices.

However, Dubai International Financi... more

GGICO, Orion Holdings JV Launch Residential Project In Dubai

Oct 28 ,2014, city : Dubai

Dubai-based Gulf General Investment Company (GGICO) has announced a joint venture with Orion Holdings to launch a new residential project in Dubai Silicon Oasis.

The project, called Platinum Residences, will comprise of two towers, featuring 200 apartments and is scheduled to be completed by April 2015.

Price... more

UAE desert booms again, but builders face cash crunch

Oct 28 ,2014, city : Dubai

Look at computer models for the Venice-like Arabian Canal proposed for central Dubai, or the plans for the world's biggest shopping mall, and it seems as if the collapse of the UAE's real estate market  six years ago never happened.

Citibank estimated earlier this year that there were already two thirds of a tr... more

Relief for investors as six Dubai property projects revived

Oct 28 ,2014, city : Dubai

Six property projects in Dubai stalled since the global financial crisis are to be revived providing relief for investors.

The projects, which were part of the former Best Homes development portfolio, have been taken over by Empire Arabia which has signed an MOU with Q Developments, part of the Dubai-based

Q ... more

Emaar Chairman Alabbar Welcomes Talk Of Dubai Property Market Slowdown

Oct 27 ,2014, city : Dubai

The chairman of Dubai’s biggest real estate developer, Emaar Properties, said he welcomed talk of a slowdown in the emirate’s property market and vowed to keep supplying new homes to help hold prices at “a reasonable level”.

Dubai real estate has gone from boom to bust to boom again in the space of e... more

Emaar eyes world’s tallest twin towers at Dubai Creek Harbour project

Oct 27 ,2014, city : Dubai

Emaar Properties has unveiled the master plan for its Dubai Creek Harbour, which includes the world’s tallest twin towers.

They form the centrepiece of a project designed to be three times the size of its vast Downtown development.

It will be developed in phases and in partnership with Dubai Holding. Th... more

Another tallest structure looms in Dubai’s horizon

Oct 27 ,2014, city : Dubai

 Dubai: Dubai is aiming for another notch in the “tallest” stakes by building what would be the world’s tallest twin towers. The Dubai Twin Towers will be located at The Lagoons, the master-development taking shape near the Creek. Apart from the images, more details of the project are to be revealed in due course. more

Dubai property price spikes scare me: Emaar chairman

Oct 27 ,2014, city : Dubai

Emaar Properties Chairman Mohamed Alabbar on Monday said the property price spikes in Dubai scare him, but the market has now cooled and is healthy.

“In 2013, things went crazy because supply was limited. As a long-term developer, this spike scares me. I am glad that people are saying that 'the market is cooling d... more

Dubai firms unveil plans for 'city of the future'

Oct 27 ,2014, city : Dubai

Emaar Properties, Dubai’s largest developer, and Dubai Holding, a global investment holding company, will launch their first residential project in the multi-billion-dollar Dubai Creek Harbor at The Lagoons, a 6.5-million square metre urban district, on November 1.

The two 40-storey residential towers (Tower 1 North a... more

Irish courts issue $1.26m judgement against developer over failed Dubai deal

Oct 26 ,2014, city : Dubai

An Irish businessman living in Dubai has secured €1 million ($1.26m) judgment against a developer over a failed property deal in the emirate, according to the Irish Times newspaper.

James Byrne, originally from Waterford and now living in Dubai, gave €633,000 ($800,000) to Caoimhin McGeever, otherwise known as Kev... more

Aldar Says Gate and Arc Towers Projects Fully Leased Out

Oct 26 ,2014, city : Abu Dhabi

Abu Dhabi developer Aldar has announced that the units in its Gate and Arc Towers project on Al Reem Island are fully leased out after being in the market for just under a year.

The Gate and Arc Towers development located in Shams Abu Dhabi is made up of 3533 units, of which Aldar retained over 1300 units as part of its rec... more

Dh75m pad in Dubai Marina’s ‘most prestigious tower’

Oct 23 ,2014, city : Dubai

It seems Dubai Marina is hoping to match Manhattan’s Fifth Avenue as a must-have address for an apartment if property prices at the top end of the market are anything to go by.

A 14,439 square foot apartment in La Rêve, a 50-storey tower, is up for grabs at a cost of Dh75 million. The flat has two living rooms, ... more

Can tenant take artificial grass and swimming pool when leaving Dubai villa?

Oct 22 ,2014, city : Dubai

I bought a villa in The Springs in May 2014. I have asked the tenant to move out and she has advised me she will be taking the artificial grass and portable swimming pool with her. I bought this villa having seen the nice garden and it forms part of my valuation report. Does the tenant have the right to remove these items at the end of he... more

New Al Reef villa development to bring 860 new homes to Abu Dhabi

Oct 22 ,2014, city : Abu Dhabi

A new phase of the Al Reef villas development close to Abu Dhabi International Airport has been announced, featuring 860 new homes.

The scheme will include two and three bedroom detached villas with “large gardens”, according to the developer Manazel Real Estate. The properties will be available for sale from Dh... more

Abu Dhabi rents remain stable in the third quarter

Oct 22 ,2014, city : Abu Dhabi

Abu Dhabi apartment and villa rents were largely unchanged during the past quarter, according to a new report from the property company Asteco. This comes on the heels of falling rents in Dubai.

The report shows rental fluctuations in the single digits for both villa and apartments in the capital.

High-end ap... more

Rent rise a big concern for UAE expats, HSBC survey shows

Oct 22 ,2014, city : Abu Dhabi

Nearly two-thirds of UAE-based expats see rent fluctuations as fundamentally affecting their financial well-being far more than their peers in the region and around the world, according to the findings of a global expat survey from HSBC.

Such concerns may well be eased in the coming months however, with news from the estate... more

Damac opens second serviced suites tower in Dubai’s Burj district

Oct 21 ,2014, city : Dubai

The Dubai developer Damac Properties has opened a new hotel suites tower in the Burj Area of Dubai.

Canal Views is the company’s second hotel offering in the area, having opened Damac Maison in December.

“Canal Views offers a different ambience and style to Damac Maison – Dubai Mall Street, ... more

World's largest 'crystal panel' coming up in Dubai

Oct 21 ,2014, city : Dubai

Swarovski, an Austrian producer of luxury cut lead glass (crystal), is working on the world’s largest crystal panel cladding in Dubai, a senior company executive told Emirates 24|7.

“We are doing one of the largest crystal panel installations in the world at Hyatt Regency in Dubai Healthcare City,” Ondrej ... more

Cloudy with a Chance of Meatballs? It will be at Dubai theme park

Oct 20 ,2014, city : Dubai

Dubai Parks and Resorts has announced an agreement to set up a Sony Pictures Studio and Smurfs Zone at motiongate Dubai, a Hollywood inspired theme park.

It will contain 12 themed attractions inspired by popular Sony Pictures releases such as Cloudy with a Chance of Meatballs, Ghostbusters, Zombieland and Hotel Transylvania... more

Damac Properties opens second luxury serviced hotel in Burj Area, Dubai

Oct 20 ,2014, city : Dubai

Dubai: Real estate developer Damac Properties has opened a 211-deluxe hotel suite tower in the Burj Area of Dubai.

Canal Views is the company’s second project in the popular shopping and tourism district. The tower will be managed and serviced by it hospitality division, Damac Maison.

Operating under tw... more

Expo 2020 impact: No stopping Dubai property launches

Oct 20 ,2014, city : Dubai



The pace of price increases in Dubai’s property market may have slowed, but developers haven't scaled down plans for new launches.
 
Publicly traded companies to those in the private sector all are ready with new projects to launch, primarily, in the residential and serviced apartments segment.... more

Dubai Investments Park houses 3,500 firms

Oct 20 ,2014, city : Dubai



Dubai Investments Park (DIP), an integrated commercial, industrial and residential community in the Middle East, has attracted over 3,500 companies across a wide array of sectors over the last 17 years, playing a pivotal role in UAE’s industrial and manufacturing boom.

DIP, a subsidiary of Dubai Invest... more

Christie’s Launches Dubai Real Estate Unit – Targets Property Starting at $3 Million

Oct 19 ,2014, city : Dubai

Christie’s International Real Estate today officially launched in Dubai, coinciding with the auction house’s October art and watch offerings.

The new unit is expected to facilitate the sale of penthouse apartments, villas and potentially some off-plan property, with the sale of a 75 million euro Arabic palace al... more

Dubai house prices, rental growth slows for third straight quarter

Oct 19 ,2014, city : Dubai

Dubai's real estate sector witnessed further stabilisation and a slowing down of both rental rates and sales prices in the third quarter of 2014, Asteco said in a new report on Sunday.

The real estate consultants said the emirate has seen the downward trend for the third quarter in a row.

Apartment and vi... more

Rents falling: Which Dubai communities saw biggest declines

Oct 19 ,2014, city : Dubai

Rents in Dubai are falling with Discovery Gardens and International City, two of the most affordable communities in the emirate, registering a decline of seven per cent in the third quarter 2014 compared to the second quarter, a new report by Asteco, a property consultancy, reveals.

The two residential communities, which sa... more

Arabtec plans to launch huge Egypt housing project by year-end

Oct 19 ,2014, city : Abu Dhabi

ABU DHABI: UAE-based construction firm Arabtec plans to launch the first phase of a huge housing project in Egypt before the end of this year, the company said on Sunday.

In March, Arabtec announced it would build one million homes in Egypt in a $40 billion (Dh147 billion) project backed by the Egyptian and UAE governments,... more

Wasl properties launches new community retail centre

Oct 18 ,2014, city : Dubai

Wasl properties has announced the launch of Samari Retail Centre, a community centre located at its residential project, Samari Residences.

“Wasl properties’ Samari Residences is an affordable development that has brought a high standard of community living to the Ras Al Khor area. Residents living in the develo... more

Rera index highlights discrepancies in Dubai property service charges

Oct 18 ,2014, city : Dubai

A new Rera service charge index is focusing attention on the vast differences in the charges property owners in different areas of Dubai are being asked to pay for services.

The index, which was launched by the regulatory arm of the Dubai Land Department last week, compiles a list of itemised annual service charges for 300 ... more

New index launched to improve Dubai service charge transparency

Oct 18 ,2014, city : Dubai

The Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department, has announced the launch of the first Service Charge and Maintenance Index for properties within Dubai's freehold areas.

Designed to be applied to services areas and common spaces and be under the management of owners associations and... more

Is Bahrain property a good buy for Gulf investors?

Oct 18 ,2014, city : Dubai

Bahrain’s current economic stability has begun to impact on residential rents, by stabilising rates and encouraging tenants to turn their attention to higher quality schemes, according to Cluttons.

Cluttons’ Winter 2014 Bahrain Residential Property Market Outlook, indicates that increased focus on higher quality... more

Now crowdfunding makes its way into property

Oct 17 ,2014, city : Dubai

Dubai: It’s already available for businesses in tech or in web retailing, but crowdfunding could soon make a mark in the local real estate space as well. Guernsey-registered Mayfair & Morgan Ltd (M&M) confirmed that initial talks have been held with a Dubai-based developer to explore the possibility of an online fund sourcin... more

NRI Alert: Indian designer apartments go on sale in Dubai for Dh3.63m

Oct 17 ,2014, city : Dubai

Advance India Projects Limited (AIPL), an Indian developer, has pre-launched Cattaro, comprising 84 boutique homes designed by country’s top master couturiers, in Dubai, hoping UAE-based non-resident Indians have shown interest in buying these units.

The 25 apartments pre-launched on Thursday are being designed by JJ ... more

Al Muneera home in Abu Dhabi is the beachfront villa for the city dweller

Oct 16 ,2014, city : Dubai

Tucked away behind a high fence a few metres from Al Muneera beachfront, one of Abu Dhabi’s few waterfront houses – available for expatriates to buy – has gone on sale.

Only 11 Al Muneera Beach Front terraced villas at Al Raha Beach were built when the masterplanned development was completed in 2011. And, ... more

Which Dubai communities saw prices fall or rise? Click to know

Oct 16 ,2014, city : Dubai

Dubai property prices have witnessed a “slight” correction in the past three months (June to August 2014), but prices still remain in the positive territory on an annual basis, reveals the September Mashreq Property Wealth Gauge report.

The highest increase on an annual basis (August 13 to August 14) was recorde... more

Dubai’s real estate investor protection law awaiting approval

Oct 16 ,2014, city : Dubai

The Real Estate Investor Protection Law, or Tanweer, is ready and with the ruler's court for approval, a Dubai Land Department (DLD) official has said.

“We had issued the draft law in the media and we got a lot of feedback. We then fine-tuned the draft law and now it waiting for approval from the Diwan (Ruler&rsqu... more

What it costs to touch 'The Sky' in Dubai

Oct 15 ,2014, city : Dubai

Visitors to the world’s highest observation deck - 'At The Top, Burj Khalifa, Sky,' will have to shell out Dh400 per person if tickets are booked in advance, but it will cost Dh500 per person for same-day bookings.

Those going to the 'sky deck' will have access to an exclusive 'luxury' lounge w... more

Dubai property regulator launches annual service charges list

Oct 15 ,2014, city : Dubai

The Dubai property regulator has compiled a list of annual service charges on hundreds of freehold properties across the emirate.

The Real Estate Regulatory Agency, part of Dubai Land Department (DLD), on Wednesday unveiled its online index at the technology show Gitex.

Rera said that the dirhams per square f... more

Damac to expand Paramount Hotels link-up to Abu Dhabi

Oct 15 ,2014, city : Abu Dhabi

The Dubai developer Damac has signed a deal to bring the Paramount hotel brand to Abu Dhabi and other cities in the region.

With four projects already announced in Dubai, further developments incorporating the Hollywood movie studio Paramount Pictures theme have been agreed for Jeddah and Istanbul.

Damac is a... more

What to consider when buying off-plan property in Dubai

Oct 15 ,2014, city : Dubai

I am planning to buy an off plan studio apartment in My Tower, Dubai Marina. What factors should I consider when buying an off plan property?

The first thing is to do your research about who the developer is and what history they have on delivering properties to handover. Since the first property downturn, developers now ha... more

Damac signs deal to build more Paramount movie hotels

Oct 15 ,2014, city : Dubai

More movie-themed hotels and serviced apartments will be built in Middle Eastern cities under an expanded deal between Damac Properties and Paramount Hotels & Resorts announced on Wednesday.

The Dubai developer and the hospitality arm of the Hollywood production company already are building Paramount-branded projects in... more

Exclusive: Villa owners forced to scrap extension plans as Nakheel hikes approval fees by up to 233%

Oct 15 ,2014, city : Dubai

Dozens of Dubai residents living in luxury villa communities such as Palm Jumeirah, Jumeirah Village and Al Furjan, have been forced to scrap extension plans after master developer Nakheel last month increased its application fees by up to 233 percent.

Under the terms and conditions laid out in Nakheel’s ‘Guidel... more

Sparkle Towers works to catch the investors’ eye

Oct 15 ,2014, city : Dubai

 DUBAI: The promoters of Sparkle Towers, which has just launched sales of select floors, is not unduly concerned about the general slowdown that has afflicted high-end off-plan projects in Dubai. They believe there are sound reasons for an upbeat appraisal of prospects.

“It’s one of the last plots that is b... more

Swarovski, Tebyan Officially Launch Crystal-Themed Towers In Dubai

Oct 14 ,2014, city : Dubai

Austrian crystal company Swarovski and Dubai-based developer Tebyan have officially launched the emirate’s first crystal-themed project Sparkle Tower, it was announced.

The towers, situated in Dubai Marina, will have a jeweled décor including sparkling lighting applications and crystal enhancements in the int... more

Aldar predicts bumper crowds for Yas Mall opening ahead of Abu Dhabi Grand Prix

Oct 14 ,2014, city : Abu Dhabi

More than 50,000 people a day are expected to flock to Abu Dhabi’s new Yas Mall shopping centre during the Formula One weekend in November, its developer estimated.

Giving The National a sneak preview around the long-awaited retail and entertainment centre on Yas Island yesterday, executives from the mall developer Al... more

Abu Dhabi rents see Q3 slowdown after jumping 12% H1

Oct 14 ,2014, city : Abu Dhabi

Average rents in Abu Dhabi increased by just two percent in the third quarter of 2014, although the market was fragmented with some properties seeing rates unchanged, according to the latest MarketView report by CBRE.

The report said that after a "very strong" H1 during which rentals grew by an average of 12 perce... more

No deal yet on Downtown Dubai land plot: Emaar

Oct 14 ,2014, city : Dubai

Update: Emaar Properties, Dubai’s largest listed developer, said on Tuesday it was looking to sell a land plot in Downtown Dubai and had received some offers for it, but no deal had been concluded yet.

In a brief bourse statement commenting on a report by local media, Emaar said the sale was in the “normal cours... more

Dubai Canal: Jumeirah Beach Park closed until end of 2016

Oct 13 ,2014, city : Dubai

Due to ongoing development projects at Jumeirah Beach Park, Dubai Municipality has temporally canceled the ladies only day and all other activities on the beach.
Mohamed Abdul Rahman Al Awadi, Director of the Public Parks and Horticulture Department, said, "The closure of Jumeirah Park's beach is to ensure the smooth runni... more

World's largest aquarium: Palm Deira

Oct 14 ,2014, city : Dubai

The Deira project, covering 1600 hectares, will be a waterfront destination, adding over 40 kilometres, including 21 kilometres of beachfront, to Dubai’s existing coastline. The cost of the project was not disclosed.
Nakheel will build a 250-room hotel with one the islands being home to one of the world’s largest aquari... more

Abu Dhabi home prices and rents edge higher in the third quarter

Oct 13 ,2014, city : Abu Dhabi

Abu Dhabi house prices and rents inched higher during the third quarter of the year, property brokers reported.

Rents in Abu Dhabi increased by an average of 2 per cent in the three months to the end of September 2014, the property broker CBRE said yesterday as landlords who had pushed up historically low rents when the ren... more

Abu Dhabi premium properties draw off-plan buyers

Oct 13 ,2014, city : Abu Dhabi

 Dubai: With the market in full revival mode, off-plan launches in Abu Dhabi seem to be taking place only at the top-end of the pricing spectrum. The best part is that such a laser-sharp focus on the part of developers is pulling in buyer interest in sufficient numbers.

The third quarter saw the Tourism Development &am... more

Pace of 'arbitrary' rent-rises in Abu Dhabi slows down

Oct 13 ,2014, city : Abu Dhabi

The number of arbitrary rent increases by landlords, post removal of the rent cap in Abu Dhabi in November 2013, seems to have declined as the pace of rental increase in the emirate has slowed down.

CBRE, a global property consultancy, said on Monday, average rents in Abu Dhabi rose by mere 2 per cent in the third quarter 2... more

Revealed: Who can buy extra parking spaces in Dubai's freehold areas?

Oct 13 ,2014, city : Dubai

Dubai developers are allowed to sell extra parking spaces to unit owners only, a Dubai Land Department (DLD) official has told.

“No one can buy parking spaces in any building unless they are landlords,” said Sultan Al Akraf, Senior Manager, al Estate Registration Services, DLD.

The Dubai Municipal... more

Emaar Properties rolls out additional Dh9bn dividend

Oct 12 ,2014, city : Dubai

The property developer Emaar has approved a special cash dividend of Dh9 billion to be distributed to its shareholders.

This takes the total value of dividends distributed this year by the company to more than Dh17 billion.

The cash dividend, approved yesterday by the Emaar Properties board of directors, foll... more

We have enough funds for all our projects, says DPG

Oct 12 ,2014, city : Dubai

A senior executive from Dubai Properties Group has said the real estate developer has sufficient funds in place to carry out all of its projects.

Mohammad Al Habbai, DPG’s chief officer for urban planning and infrastructure, said the funds are in place for the various projects, regardless of sales.

&ldq... more

Funds in place for every single Dubai project, says DPG

Oct 11 ,2014, city : Dubai

Dubai Properties Group (DPG), the real estate development arm of Dubai Holding, has funds in place to complete all its projects, a senior company executive told.

“For the time being, we have fund for every single project,” said Mohammad Al Habbai, Chief Officer for Urban Planning and Infrastructure, DPG.
... more

100 towers in SR50bn Madinah pilgrim city to house 200,000

Oct 9 ,2014, city : Dubai

The massive city covering an area of over 1.6 million square meters will accommodate 200,000 people. It is located 3 km to the west of the Prophet's Mosque, 3 km from Meeqat, and 900 meters from Quba Mosque.

"Custodian of the Two Holy Mosques King Abdullah has instructed the Finance Ministry to implement the projec... more

Nakheel Awards Dhs35m Contract For Badrah Pavilion Community Centre

Oct 9 ,2014, city : Dubai

Property firm Nakheel has awarded a Dhs35 million contract to build a community mall in its new Badrah development in Dubai.

Dubai-based Convrgnt Value Engineering was awarded the contract to build the new facility, the developer said.

Badrah Pavilion, which is Nakheel’s sixth neighbourhood retail centr... more

Top 5 things to consider when choosing a real estate agent

Oct 10 ,2014, city : Dubai

The decision to buy or sell your home is one of the biggest in many people’s lives, particularly financially. That means that finding the right real estate agent to guide you through the process is fundamental to success.

Whether you need help setting the right price, professionally marketing your home, or negotiating... more

Humble home in Liverpool where Beatle George Harrison lived

Oct 9 ,2014, city : Dubai

It may look like a humble three-bedroom mid terrace home in the regional British city of Liverpool.

But Beatles fans around the world will know this modest council house at 25 Upton Green in Speke, Liverpool, where history was made.

The former Beatle, George Harrison, who died in 2001, lived in this very hous... more

Canal to be star attraction in Meraas’ Dubai theme parks project

Oct 8 ,2014, city : Dubai

A kilometre-long canal in the desert plied by water taxis is set to be the star attraction of an entrance plaza that will connect three new theme parks in Dubai’s Jebel Ali.

The Meraas Holding subsidiary Dubai Parks & Resorts, which is developing Legoland Dubai and Hollywood and Bollywood theme parks on the outski... more

Nakheel reports 47 per cent rise in profit

Oct 8 ,2014, city : Dubai

Nakheel reported a sharp rise in profits for the first nine months of the year as the Palm Islands developer boosted leasing earnings and paid off debt.

Profit during the period rose 47 per cent to Dh2.6 billion – more than the developer’s entire profit last year, Nakheel said.

Third quarter profi... more

Dubai landlords often happy if tenants leave before end of rental contract

Oct 8 ,2014, city : Dubai

I live in Sky Court, Dubailand, and my office is moving to Abu Dhabi so I will have to move out of my current apartment. My landlord gave me one year’s notice in March this year and we have to vacate the apartment on March 16, 2015. I gave the landlord two cheques, one that he cashed at the time and a second dated for November 6 whi... more

Gearing for Expo 2020: DPG sets 2017 deadline for completion of 40 hotels

Oct 9 ,2014, city : Dubai

All the buyers of the 40 hotel plots sold by Dubai Holding have been given the deadline to complete their project by 2017, a senior Dubai Properties Group (DPG) executive has revealed.

“During the Arabian Travel Market, we had launched the 40 plots for mid-range hotels. All these plots have been sold to third parties ... more

Omniyat Group, Drake & Scull Begin Work On Palm Jumeirah Project

Oct 8 ,2014, city : Dubai

Omniyat Group and Drake & Scull International (DSI) announced that they have begun construction on their megaproject in Palm Jumeirah by breaking ground.

The project, called One at Palm Jumeirah, is a Dhs2 billion premium residential development located at the trunk of Palm. The property, which was launched in August, i... more

Nakheel posts 47% jump in net profit to $707m

Oct 8 ,2014, city : Dubai

Nakheel on Wednesday announced a net profit of AED2.60 billion ($707.8 million) for the first nine months of 2014 - higher than the company's profit for the whole of 2013.

It also represented an increase of 47 percent on a profit of AED1.77 billion in the same period last year, the Dubai-based developer said in a statem... more

Correction works in favour of mid-tier developers

Oct 8 ,2014, city : Dubai

 Dubai: The self-correction in values that Dubai’s property market went through from the second quarter onwards has made it easier for budget-conscious developers to make an entry with their projects.

What this has achieved is to create more off-plan launches within the mid-tier of the market, which would be deli... more

Prime office rentals market in Abu Dhabi stirs back to life after six-year lethargy

Oct 7 ,2014, city : Dubai

For the first time in six years the capital’s stagnant office market is showing signs of returning to life.

Rents for prime office space in Abu Dhabi increased by an average of 6 per cent during the quarter ended September, said a report from JLL published yesterday. Rents rose to Dh1,640 per square metre from Dh1,540... more

Emaar Properties lifts Dubai index on fresh IPO plans

Oct 7 ,2014, city : Dubai

Emaar Properties, Dubai's largest listed developer, lifted the emirate's bourse on Tuesday after announcing plans to float its Egyptian unit next year following the successful listing of its malls and retail business.

Shares in Emaar, the market's second most heavily traded stock on Tuesday, jumped 3.1 percent t... more

Abu Dhabi residential sales prices rise 6% in third quarter

Oct 7 ,2014, city : Abu Dhabi

 ABU DHABI: The third quarter of this year witnessed continued growth of prices in the residential market with sales prices for apartments and villas rising by 6 per cent, according to the latest report by real estate consultancy Jones Lang LaSelle (JLL).

The report, published on Tuesday, said that sales prices reached... more

Abu Dhabi housing rents set to rise in near term

Oct 8 ,2014, city : Abu Dhabi

Abu Dhabi will face shortage of residential units in near term as population grows, leading to increase in rents, says a new report.

“Housing demand remains strong across all price points driven by population growth. We expect a future housing shortage as near-term supply deliveries are below historic averages at a ti... more

Dubai expected to amend owners' association law: Sources

Oct 7 ,2014, city : Dubai

Dubai is planning to amend the existing owners’ association (OA) law, which will ease the current process of establishing, running and managing of freehold towers, Emirates 24|7 has learnt.

Although the Dubai Land Department (DLD) has not yet responded to questions on the proposed amendments to Law No 27 of 2007 conce... more

Rents softening in Dubai, but still highest in world

Oct 7 ,2014, city : Dubai

Prime residential rents in Dubai rose by 2 per cent in the second quarter 2014, taking the annual increase to 14.1 per cent – topping the list of 17 global cities tracked by UK-based Knight Frank.

“Dubai holds the top spot this quarter, having recorded a 14.1% increase in prime rents in the year to June.
... more

Dubai Property: Over-priced, under-valued or fair deal? Experts debate

Oct 7 ,2014, city : Dubai



The Dubai property market is still “grossly underpriced” and will grow in the long term, according to a developer.

“There is a great deal of potential in the Dubai market, especially when you consider its position in comparison to other major international cities,” Raza Jafar, Chief E... more

Cityscape property show set to make Kuwait debut

Oct 6 ,2014, city : Dubai

The Cityscape real estate show will makes its debut in Kuwait, building on its success in neighbouring Gulf countries, it has been announced.

Cityscape Kuwait is scheduled to run on December 7-9 at Kuwait International Fairgrounds, with organisers expecting more than 5,000 visitors.

The exhibition and confere... more

Calls to reinstate Abu Dhabi rent control to protect low-paid workers from steep increases

Oct 6 ,2014, city : Abu Dhabi

Nearly a year after Abu Dhabi removed a 5 per cent rent cap for properties in the capital, property experts are calling on the government to reinstate rent controls to prevent low-paid workers from being priced out.

Last November the Abu Dhabi Executive Council abolished the annual extension of a 5 per cent cap on rent incr... more

Sustainable and sensible growth in Dubai's property market

Oct 5 ,2014, city : Dubai

Capital Club panel discussion highlights Dubai's solid fundamentals and maturing market
Dubai: The Dubai property market is showing signs of sensible and sustainable growth, with residential property continuing to be the most prominent sector. This was the common consensus reached at a panel discussion organised by the Capital ... more

MBRF, Nshama to build new Dubai mixed-use mega project

Oct 5 ,2014, city : Dubai

The Mohammed Bin Rashid Al Maktoum Foundation (MBRF) has signed a joint venture agreement with developer Nshama to create a Dubai mixed-use project that focuses on sustainability, culture and education.

Jamal Bin Huwaireb, managing director of MBRF, signed the agreement with Fred Durie, CEO of Nshama, whereby MBRF will exte... more

Has Dubai’s Property Market Finally Lost Steam?

Oct 4 ,2014, city : Dubai

When Dubai’s property prices began soaring late last year, the now-all-too-familiar warnings from global agencies such as the International Monetary Fund (IMF) began to resurface. Bring in more regulations and the keep the price growth steady to avoid another bubble, the fund warned.

However, talking to experts at Dub... more

$525 million: Is this the world's costliest home on sale?

Oct 5 ,2014, city : Dubai

A Florentine palace located on a peninsula jutting into the French Riviera is assumed to be the most expensive home in the world, according to a report.

Therese de Beauchamp villa also known as the Villa La Fiorentina on the French Riviera in Saint-Jean-Cap-Ferrat town, was built in 1917, is rumored to have a price tag of $... more

Emaar Malls Group surges 20% on opening day on Dubai Financial Market

Oct 2 ,2014, city : Dubai

Emaar Malls Group shares surged on their first day of trading as The Dubai Mall’s owner also reported rising earnings

Shares rose as much as 20 per cent to Dh3.50 on its debut on the Dubai Financial Market exchange yesterday, after raising US$1.6 billion in an initial public offering last month.

“... more

Downtown Manhattan looks to attract the super-rich

Oct 2 ,2014, city : Dubai

Property developers are turning to historic downtown Manhattan in New York in a bid to attract the super-rich.

Spurred by the government-funded redevelopment of the World Trade Centre in the wake of September 11, increased tourist traffic to ground zero and a wave of international capital flooding to the area after the cras... more

Arabtec to raise funds for $40bn housing project in Egypt

Oct 2 ,2014, city : Dubai

Arabtec Holding will be responsible for raising the cash needed to pay for its US$40 billion social housing project in Egypt.

The Egyptian prime minister Ibrahim Mahlab said late on Tuesday that his government had reached an agreement with Arabtec that all of the funding for the ambitious project would “come from abro... more

Ship from film ‘Captain Phillips’ first repaired at new Abu Dhabi facility

Oct 1 ,2014, city : Dubai

Hijacked by Somalian pirates in 2009, the Maersk Alabama became a familiar sight at box offices around the world last year when the movie Captain Phillips, inspired by the event, was released.

And the ship, minus lead star Tom Hanks, recently made its way to the calmer waters of Abu Dhabi.

The cargo vessel wa... more

Nakheel awards Dh120m contract for Al Furjan infrastructure in Dubai

Oct 1 ,2014, city : Dubai

The Dubai developer Nakheel has awarded a Dh120 million contract for infrastructure works at its Al Furjan community in the emirate.

The project is well underway, with 800 homes in Phase 1 already delivered and another 400 being built.

The contract has been given to Dubai-based Target & Jima Construction ... more

Dubai’s first Swarovski-themed towers open for registration ahead of launch

Oct 1 ,2014, city : Dubai

Property buyers could have a twinkle in their eye when they notice the latest launch in Dubai.

Sparkle Towers in Dubai Marina is open for registrations ahead of its launch later this month. Registered customers will have top priority when the sales launch takes place.

In a statement the Dubai developer Teyban... more

Dubai tenant wants to take 30% hike to Rent Committee but has been subletting

Oct 1 ,2014, city : Dubai

My landlord has tried to evict me illegally and up my rent by 30 per cent - all of which I know he cannot do. I know I am within my rights to go to the rent committee, my only hesitation is that I have a friend from home that lives with me. It’s now a sub let in so far as there is no contract, but she does have her things in my home... more

First Saadiyat Cultural District homes sell out, says TDIC

Oct 4 ,2014, city : Dubai

Tourism Development and Investment Company (TDIC) has announced that phase one of Mamsha Al Saadiyat, offered for sale off-plan, has sold out.

Mamsha Al Saadiyat, meaning Saadiyat Walk is a 1.4km beachfront mixed-use project that will offer residents a luxurious beach-inspired lifestyle, said the master developer of major t... more