Latest Real Estate News in UAE

Dubai residential projects said to reach saturation point

Oct 31 ,2015, city : Dubai

The number of announced residential projects in Dubai has reached a saturation point in the third quarter of 2015 as house prices and rents continued to fall, according to a new report.

Phidar Advisory's Q3 Dubai residential research note said that apartment lease rates decreased a nominal 0.5 percent, while sale prices... more

Abu Dhabi's Reem Mall to house world's largest indoor snow-play park

Oct 30 ,2015, city : Abu Dhabi

The developers of Dh3.67-billion Reem Mall, Abu Dhabi’s new shopping and leisure destination, will be home to the world’s largest indoor snow-play park.

The announcement marks another major entertainment destination for the UAE capital, as it continues to enhance its position as a global tourism and leisure hub.... more

Expect Dubai residential property market recovery from mid-2016: Kalban

Oct 28 ,2015, city : Dubai

Softening of the Dubai property market in 2015 is unlikely to carry beyond mid-2016, says Union Properties chief, who believes the market will re-enter recovery mode thereafter.

“The property market has softened this year after it witnessed price growth in the last two years. We are expecting the market to pick up fro... more

Top 10 apartment deals: Dh6,250 psf for Downtown Dubai unit

Oct 27 ,2015, city : Dubai

Although the apartment sold in Downtown Dubai is ranked fifth on the list of the top 10 biggest apartment deals in the third quarter 2015, it is the most expensive unit sold on the basis of price paid per square feet in first nine months of the year.

The unit in The Address Downtown Hotel (Lake Hotel) in Downtown Dubai was ... more

Dubai's Deyaar posts 37% slump in Q3 net profit

Oct 26 ,2015, city : Dubai

Dubai's Deyaar Development reported a 37.7 percent slump in third-quarter net profit on Monday.

Deyaar, one of the companies worst hit by Dubai's property market collapse in 2009-2011, made a quarterly profit of 48.9 million dirhams ($13.3 million) in the three months to Sept. 30, according to Reuters calculations.<... more

Damac Towers by Paramount scheduled for Q4 2016

Oct 26 ,2015, city : Dubai

Damac Towers by Paramount, which is a cluster of four towers connected by a shared podium consisting of the Paramount Hotel Dubai and three Damac-managed serviced apartments by Damac Maison, is on schedule to open in quarter four of 2016.

Damac Properties director of corporate communications Jon Barber said in an interview ... more

Emaar, Meraas launch Maple 2; sales begin

Oct 23 ,2015, city : Dubai

Dubai-based Emaar Properties and Meraas Holding will commence sales for the second phase of Maple townhouses in the 2,700-acre Dubai Hills Estate in the Mohammed Bin Rashid City (MBR City) from Saturday.

“Maple 2 townhouses will focus on green living. The extensive green landscapes and natural trails make it the first... more

Abu Dhabi rents fall in Q3, first quarterly drop in two years

Oct 23 ,2015, city : Abu Dhabi

Average Abu Dhabi rents fell by around one percent in the third quarter of 2015 but maintained an annual growth rate of close to eight percent, consultancy CBRE has said.

Its Q3 2015 Abu Dhabi MarketView said the negative impact of the economic slowdown is evidently being felt in the Abu Dhabi residential market, with rents... more

Dubai Rent update: 13% rise in IMPZ; 8% fall in Marina in mere 90 days

Oct 22 ,2015, city : Dubai

Apartment rents in International Media Production Zone (IMPZ) in Dubai rose between five and 13 per cent in third quarter 2015 compared with second quarter, reveals a new report.

In its latest report, Land Sterling, a chartered surveyors and property consultancy, said rents jumped by 13 per cent to Dh45,000 per annum (pa) f... more

Emaar launches new Maple homes in Dubai's 'green city'

Oct 22 ,2015, city : Dubai

Developer Emaar has launched the second phase of Maple townhouses in Dubai Hills Estate, which is envisaged as the emirate's first "green city".

A joint venture between Emaar and Meraas Holding, the 2,700 acre Dubai Hills Estate is part of the Mohammed Bin Rashid City (MBR City) with the Maple townhouses set a... more

Dubai's Nakheel says nine-month net profit rises 39% to $982m

Oct 21 ,2015, city : Dubai

Dubai developer Nakheel on Wednesday announced a net profit of AED3.61 billion ($982.8 million) for the first nine months of 2015, an increase of 39 percent on the same period last year.

The company said in a statement that the nine-month profit was almost equal to Nakheel's profit for the entire year of 2014 of AED3.68... more

Dubai property market unlikely to see boost from end to Iran sanctions

Oct 21 ,2015, city : Dubai

The lifting of sanctions will not lead to an immediate rush to invest in Dubai property, according to a new report released by Phidar Advisory.

The report on the impact of Iran sanctions relief on Dubai property said that real estate in the emirate is now 4.4 times more expensive for Iranian buyers in rial than in it was in... more

Which emirate in UAE offers tenants rent refunds?

Oct 21 ,2015, city : Dubai

Tenants in Sharjah can get rent refund provided they furnish evidence of a force majeure event, a legal expert told 'Emirates 24|7'.

“The tenant can request for early termination prior to the expiry date to the landlord provided evidence of existence of a force majeure event can be furnished in the absence of ... more

Qatar's Ezdan Holding closes $500m loan

Oct 20 ,2015, city : Dubai

Qatar's Ezdan Holding has raised $500 million through a sharia-compliant loan which will be used to fund its expansion plans, the main arranger of the deal said.

Dubai-based Mashreq's Islamic arm was the sole bookrunner for the facility and it was joined in funding the deal by banks including Abu Dhabi Islamic Bank,... more

13 days to property registration deadline: Dubai landlords face fines

Oct 19 ,2015, city : Dubai

With only 13 days (nine working days) left for property owners to complete their unit registration with the Dubai Land Department (DLD), real estate developers have started reminding landlords to complete the formalities by October 30, 2015, following which they could face penalties.

In notices sent to their clients, develo... more

Dubai rents drop: Business Bay, Sports City and Jumeirah Park

Oct 18 ,2015, city : Dubai

Rents remained stable in most locations across Dubai, but fell by two and three per cent in Business Bay and Dubai Sports City respectively, according to the latest report by Cavendish Maxwell.

Rates fell by up to three per cent in Victory Heights and Jumeirah Park from the previous quarter, with prime locations continuing ... more

UAE investors said to up interest in Spanish real estate market

Oct 17 ,2015, city : Dubai

UAE investors are showing increasing interest in the Spanish real estate market as it rebounds from economic troubles, according to Chestertons.

The property agency said housing sales grew by 8 percent in the first half of the year in Spain, with more UAE and Gulf buyers looking to invest.

Brennon Nicholas, h... more

Abu Dhabi plans to impose affordable homes quota on developers

Oct 17 ,2015, city : Abu Dhabi

A plan by the Abu Dhabi Urban Planning Council to address the UAE capital's shortage of affordable homes has been hailed by real estate consultancy Cluttons.

Abu Dhabi Urban Planning Council said this week it plans to enact legislation requiring 20 percent of every new development to offer affordable homes.

more

Dubai property prices fall 2% in Q3 as 6,000 new units come to market

Oct 16 ,2015, city : Dubai

Dubai property prices fell by two percent in the third quarter of 2015 following a similar decline in the previous quarter, according to a new report by consultants Cavendish Maxwell.

Its Dubai Residential Market Report said apartment and villa prices have both dropped by an average of two percent between July and September... more

Dubai's office demand remains buoyant despite oil price fall

Oct 15 ,2015, city : Dubai

Dubai’s economy has continued to grow despite the drop in oil prices, with leasing enquiries remaining buoyant, according to Knight Frank report.

“While the world keeps a watchful eye on the oil price movement which has muted certain corners of the market, and where corporate decision making is pegged to global ... more

Dubai's Sunrise Properties raises $140m in Islamic loan deal

Oct 13 ,2015, city : Dubai

Sunrise Properties has secured a Dh515 million ($140.22 million) Islamic loan for the development of a luxury hotel project, banking group Emirates NBD, the main arranger of the deal, said on Tuesday.

Emirates NBD, joined by Doha Bank, are providing the money to finance the Emerald Palace Kempinski Hotel project on Dubai... more

Abu Dhabi property prices flat in Q3 as investor sentiment slips

Oct 13 ,2015, city : Abu Dhabi

Residential real estate sales prices in Abu Dhabi remained stable during the third quarter of 2015 but transaction volumes slipped due to a decline in investor sentiment, consultants JLL said on Tuesday.

Its Q3 2015 Abu Dhabi Real Estate Overview report said that the decline in property transactions was a trend that is expe... more

Aldar launches second phase of West Yas villas on Yas Island

Oct 12 ,2015, city : Abu Dhabi

Abu Dhabi-based Aldar Properties on Monday launched the second phase of sales for West Yas, a master planned residential development on Yas Island.

The new release comes as a response to the strong nationwide demand recorded in phase one where 300 units were sold to Emiratis.

West Yas features luxury villas t... more

Dubai's Falconcity of Wonders targets new Indian investment

Oct 12 ,2015, city : Dubai

Dubai's Falconcity of Wonders (FCW) recently hosted a group of Indian media members at its site, aimed at drumming up a new round of investment.

Indian nationals residing in the UAE account for a big share of FCW’s current portfolio of investors. The delegates met with Alharith bin Salem Almoosa, vice chairman and... more

Dubai developer to build $4.8bn 'Buroj Ozone' resort; 1,000 jobs

Oct 11 ,2015, city : Dubai

Dubai-based developer Buroj Property Development said on Saturday it plans to invest €4.3 billion ($4.8b) to build a luxury tourist resort near Sarajevo, in what could be the biggest foreign investment of its kind in the Balkan country.

Bosnia, where Muslim Bosniaks are the largest of its three ethnic groups, has seen ... more

Dubai developer to build $4.8bn tourist resort in Bosnia

Oct 11 ,2015, city : Dubai

Dubai-based developer Buroj Property Development said on Saturday it plans to invest 4.3 billion euros ($4.8 bln) to build a luxury tourist resort near Sarajevo, in what could be the biggest foreign investment of its kind in the Balkan country.

Bosnia, where Muslim Bosniaks are the largest of its three ethnic groups, has se... more

Dubai may need to alter zonal strategy to attract more tech firms

Oct 10 ,2015, city : Dubai

Dubai may need to alter its zonal development strategy in order to attract more global tech occupiers, according to a new report by international real estate advisor Savills.

The firm said that while 2012 to 2014 saw a boom in Dubai office supply delivery, a year-on-year increase in available space was recorded at 13 percen... more

Dubai ruler wins helipads battle at remote Scottish estate

Oct 9 ,2015, city : Dubai

Dubai's ruler Sheikh Mohammed bin Rashid Al Maktoum has overcome objections to win approval to build four helicopter landing pads on his remote Highland estate in Scotland.

A local businesswoman had objected to the plans for the helipads to allow corporate and private guests to be flown straight into the 63,000-acre Inv... more

Dubai rents hold steady despite sales price slump

Oct 9 ,2015, city : Dubai

Prime rents in Dubai fell by an average of 0.4 percent over the past year compared to a sales price slump of more than 12 percent in the same period, according to Knight Frank.

Its Prime Rental Index for Q2 also showed the same decline over the six-month period to the end of June while rents rose 0.2 percent during Q2.
more

Dubai office rents up 1.2% in Q3 amid 'robust' activity

Oct 8 ,2015, city : Dubai

Office rents in Dubai have remained stable over the last quarter and increased marginally since last year, according to Knight Frank’s latest market report.

The real estate consultancy said prime rents were flat quarter on quarter but up 2.1 percent from the same period in 2014 with "robust" activity reporte... more

Dubai's JBR appoints firm to solve traffic gridlock issues

Oct 8 ,2015, city : Dubai

Dubai Properties has appointed a consultancy firm to help brainstorm a solution to Jumeirah Beach Residences’ notorious traffic problems, a senior executive said.

JBR, the iconic string of sandy-coloured tower blocks along the beachfront in Dubai Marina, which was the largest single-phased project in the world when it... more

This Dubai masterpiece will inspire new luxury global projects

Oct 8 ,2015, city : Dubai

The Dh5.14 billion ($1.4 billion) Royal Atlantis Resort and Residences in Dubai has been named in the top 10 global influencers for new luxury developments, Knight Frank said in its “Global Development Report 2015”.

Developed by Investment Corporation of Dubai and Kerzner International, the project, located on t... more

Dubai real estate prices drop nearly 13% in 2015

Oct 7 ,2015, city : Dubai

Residential real estate prices dropped by 12.7 percent year-on-year in the third quarter of 2015, research by industry consultancy Tasweek has claimed, reflecting other market analyses published recently.

Tasweek’s latest UAE market report found that Dubai saw the most substantial decreases in average residential sale... more

Abu Dhabi property show for Pakistanis

Oct 6 ,2015, city : Abu Dhabi

Abu Dhabi is gearing up to host the first ever Pakistan Property Exhibition as part of the International Real Estate and Investment Show (IREIS 2015)

Attracting international and Pakistani expatriates to invest in the real estate sector, the exhibition, set to run from October 29 to 31 at the Abu Dhabi National Exhibition C... more

Dubai apartment prices fall 11%, more declines likely

Oct 6 ,2015, city : Dubai

Apartment prices in Dubai have fallen 11 percent in the past 12 months and will decline further because of tighter regulations, rising inflation and a strong UAE currency, industry consultants JLL said on Tuesday.

Inflows of cash from troubled areas of the Middle East helped Dubai's property sector recover from a crash ... more

Damac on 30-day mission to sell Dubai real estate

Oct 5 ,2015, city : Dubai

Dubai-based Damac Properties is heading on a month-long global roadshow to promote Dubai and highlight the strong business environment for overseas investment.

Taking place on three continents, the campaign will highlight Dubai as a safe and secure city, with substantial infrastructure investment, ease of doing business and... more

Damac plans global roadshow to promote Dubai as safe haven

Oct 5 ,2015, city : Dubai

Luxury real estate developer Damac Properties is heading on a month-long global roadshow to promote Dubai and highlight the strong business environment for overseas investment.

Taking place on three continents, the campaign will highlight Dubai as a safe and secure city, with substantial infrastructure investment, ease of d... more

Nakheel awards $223m contract for construction of The Palm Tower

Oct 4 ,2015, city : Dubai

Dubai developer Nakheel has awarded a $223 million contract for the construction of The Palm Tower, its 52-storey, five star hotel and residential complex on the Palm Jumeirah.

UAE-based Trojan General Contracting and National Projects & Construction LLC have been appointed to jointly build the 240 metre tower, the gove... more

British expats in Dubai, Qatar sign up for UK buy-to-let mortgages

Oct 3 ,2015, city : Dubai

Skipton International, which is based in Guernsey, the Channel Islands, has completed the 200th buy-to-let mortgage for British expats, with demand proving highest among those living in Dubai and Qatar.

The British lender launched the expat buy-to-let mortgage option last year and it said "demand has been high and is s... more

Dubai property cool down heating up action for investors

Oct 3 ,2015, city : Dubai

Rental yields for prime residential properties in Dubai are higher compared to other safe havens such as London, thus attracting income-seeking investors, according to a UK-based real estate consultancy.

“While the Dubai residential price fall continues to significantly outpace rental value declines, initial yields ar... more

Stunning UAE commercial tower with stone-like façade

Oct 2 ,2015, city : Dubai

It’s an architectural accomplishment quite different from other buildings in Abu Dhabi and has been defined as ‘stunning’ by jury members of the Council on Tall Buildings and Urban Habitat.

Al Hilal Bank Tower on Al Maryah Island, which was recognised as a ‘Best Tall Building Middle East & Africa... more

Dubai rents take U-turn in August, rise by 1 per cent

Oct 1 ,2015, city : Dubai

Contrary to the believe rents were declining in Dubai on a monthly basis, August has been an exception for the apartment market segment, data released by Reidin.com reveals.

On an annual basis rents in apartments market are down 1.1 per cent, leasing rates rose by one per cent month-on-month (m-o-m) in August 2015.
<... more