Latest Real Estate News in UAE

Revealed: Top 12 Dubai Expo 2020 projects

Sep 30 ,2015, city : Dubai

1. Dubai Water Canal Project

The $545 million Dubai Water Canal Project will transform Business Bay and connect the area with the Arabian Gulf over three phases that are set to complete October 2016.

The project will include a new shopping centre, four hotels and 450 restaurants as well as luxury housing and ... more

Revealed: Cheapest Dubai suburb to rent studio, one-bed apartment

Sep 30 ,2015, city : Dubai

If you are scouting for the cheapest rental deal in Dubai, look at three communities - Dubailand, Dubai Silicon Oasis and International Media and Production Zone (IMPZ).

Although new renters can have a glance at the official rent index and be content of lower rates, remember in their case the landlords dictate the rents. On... more

Dubai residents angry at being locked out of Nakheel villa community

Sep 29 ,2015, city : Dubai

Some residents in Dubai’s Al Furjan have been blocked from entering the community after strict new security measures were put in place.

Several parents have told Arabian Business they were forced to wait in the heat with their young children, sometimes for hours, because security guards would not allow them to access ... more

Upbeat Dubai developers plan new launches

Sep 28 ,2015, city : Dubai

Falling property prices, lower sales volumes are not deterring Dubai developers from new launches.

Developers are hoping high returns on investment and a safe-haven status will attract global investors to the emirate.

Global ratings agency Moody’s too has confirmed that the Dubai government’s plan... more

Abu Dhabi investors launch Montenegro’s largest mixed-use development

Sep 27 ,2015, city : Abu Dhabi

Abu Dhabi investors in The Capital Plaza, the largest mixed-use real estate development in Montenegro, were celebrating the official launch of the project on Sunday.

Capital Investment (CI) in collaboration with Abu Dhabi Financial Group (ADFG), have officially opened the development, which is located in the heart of Podgor... more

Dubai real estate market continues price correction in August - report

Sep 27 ,2015, city : Dubai

August saw the Dubai real estate market continuing with its price correction, while Abu Dhabi registered some healthy spikes in both the rental and sale markets, according to the latest property report from real estate website Bayut.com.

Bayut.com CEO Haider Ali Khan said the price stabilisation in Dubai, coupled with stead... more

Dubai housing squeeze pushes middle-income expats out to the suburbs

Sep 27 ,2015, city : Dubai

While Dubai continues to pump out sumptuous new apartment blocks, for a rising number of expatriates the city no longer offers the luxury lifestyle that lured many foreigners to the Gulf.

A shortage of affordable homes and a reduction in overseas allowances since the financial crisis are pushing foreign staff on middle inco... more

Duplicate listings 'headache' for UAE real estate market

Sep 25 ,2015, city : Dubai

Though Dubai’s Real Estate Regulatory Agency has launched eMart to stop duplication of property listings, a software technology expert claims duplicate listings within the UAE’s online real estate market are costing the industry at least Dh1 billion per year.

“Duplicate listings are a major headache in our... more

Dubai property market to thrive on high yields, efficient infrastructure

Sep 24 ,2015, city : Dubai

Prime properties in Dubai are offering rental yields of over 7 per cent, bringing the emirate among cities that offering high income generating assets for investors, according to Knight Frank.

“With price falls continuing to outpace rental value declines, initial yields are rising. Reaching more than 7 per cent in ren... more

Buying property in the UAE? 8 key questions you should ask

Sep 23 ,2015, city : Dubai

The UAE’s property market has long been a solid choice for those looking to invest in real estate with investors purchasing property in the UAE getting better returns than mature markets such as Hong Kong or London.

The past months saw the Dubai residential real estate market continuing with price stabilisation with p... more

UAE real estate sector losing more than $272m a year due to duplicate listings

Sep 22 ,2015, city : Dubai

Every year, at least $272 million (AED 1 billion) is lost within the UAE’s online real estate market due to duplicate listings.

Chief executive of UAE real estate management software Masterkey, Daniel Hart, told Trade Arabia the problem is a major concern in the industry.

“It is a major headache i... more

Most UAE renters hunting for Dh50k-Dh100k apartments

Sep 22 ,2015, city : Dubai

The maximum number of renters in Dubai and Abu Dhabi are looking for properties with leases of between Dh50,000 and Dh100,000 per annum (pa), according to a new report.

Almost 25 per cent of all Dubai searches are for properties priced between Dh50,000 and Dh100,000 pa, while in Abu Dhabi 29.27 per cent are looking for unit... more

UAE world's second hottest property market, beats Singapore, UK

Sep 21 ,2015, city : Dubai

The UAE has been named the second hottest market for global residential property investors ahead of Singapore, the United Kingdom and Hong Kong, according to Savills, a UK-based real estate advisor.

“The UAE’s domestic wealth creation and growing population and regional demand make it a wise investment choice,&r... more

UAE's Bloom launches new mixed-use Saadiyat Island project

Sep 18 ,2015, city : Abu Dhabi

Bloom Properties, a Bloom Holding subsidiary, has announced its latest project - Soho Square, a mixed-use urban development that encompasses residential, retail and commercial space on Saadiyat Island.

Set to take shape in the University neighbourhood of Saadiyat Island next to the New York University Abu Dhabi campus, the ... more

Dubai housing costs ranked fourth most expensive in the world

Sep 17 ,2015, city : Dubai

Housing costs in Dubai are among the four most expensive in the world, according to the latest UBS Prices and Earnings study, which examines prices, wages and earners' purchasing power in 71 cities globally.

Zurich, Geneva and New York City are the most expensive cities in the world, according to the prices for a standa... more

Watch out Indians, Pakistanis: Chinese gung ho over Dubai property market

Sep 17 ,2015, city : Dubai

Driven by high rental yields and capital appreciation, Chinese investors are looking at buying into Dubai’s lucrative property market, with a Chinese property portal even revealing a whopping 1,200 per cent increase in buyer interest for properties in the emirate.

“Chinese buyers are increasingly comfortable wit... more

Plans unveiled for lagoon, beaches at Dubai's Safa Park

Sep 15 ,2015, city : Dubai

The redeveloped Safa Park in Dubai will have its own man-made beach and “crystal lagoon” as well as 1,200 new homes, according to media reports on Tuesday.

Developers Meydan and Meraas Holding are working to build a new mixed-use community alongside Dubai Water Canal, which is currently under construction and wi... more

Now, property in the will for non-Muslims in Dubai…

Sep 15 ,2015, city : Dubai

The DIFC Dispute Resolution Authority (DRA) with its ancillary body, the DIFC Wills and Probate Registry (WPR) has announced the signing of a Memorandum of Understanding with the Dubai Land Department (DLD).

The MoU marks an important step forward in the development of the WPR by officially outlining a process in conjunctio... more

Falconcity's Egyptian pyramids ‘yet to win planning approval’

Sep 13 ,2015, city : Dubai

The developer hoping to build a replica of the Egyptian pyramids and other attractions in Dubai has yet to be granted approval from the authorities, it has emerged.

A decade after the ambitious Falconcity of Wonders project was launched to investors, the developer is still awaiting consent to recreate world wonders includin... more

Dubai real estate firm boss sees new price hike in 2017

Sep 12 ,2015, city : Dubai

Dubai's real estate market is undergoing a healthy correction which is confirming its maturity, according to Hesham Al Qassim, CEO of Dubai-based wasl Asset Management Group.

Al Qassim stated his belief that the current situation bodes well for the future of the city's property sector, with continued stability likel... more

Phase 1 of Meraas Bur Dubai project ready in Q3 2016

Sep 11 ,2015, city : Dubai

Meraas's Marsa Al Seef hospitality and retail development in Dubai's Bur Dubai area is due for completion by the second quarter of 2017.

The 1.8km stretch of waterfront, overlooking Dubai's consulate area, is currently undergoing a makeover into an Arabic-heritage inspired offering.

The first phas... more

Dubai real estate market stable; oversupply fears ruled out

Sep 11 ,2015, city : Dubai

The major players of Dubai real estate arena, who have invested billions of dirhams in the property sector, have shrugged off the pessimism of double-digit price declines this year or in 2016, stating the market faces no oversupply issue and will continue to remain stable.

“Look at the clear cut information from the m... more

Dubai real estate prices fall over summer, agents report

Sep 10 ,2015, city : Dubai

Just 13 percent of real estate agents in Dubai reported an increase in average sales prices over the past three months, in further evidence of the slowdown in property values across the emirate.

Emirates NBD’s latest monthly Real Estate Tracker survey found that the majority (60 percent) of agents reported a drop in a... more

Dubai developer exploring sites in Europe, Asia for more Versace resorts

Sep 10 ,2015, city : Dubai

Enshaa, the master developer behind the Palazzo Versace resort in Dubai Creek, is currently exploring sites in Europe and Asia to develop more Versace-branded development, its CEO said at the Cityscape Global property exhibition.

“Our company has the right of first refusal for a global roll out of Palazzo Versace, so ... more

Real estate market to lead other sectors in Dubai's economy: Mohammed

Sep 10 ,2015, city : Dubai

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, accompanied by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, today visited Cityscape Global 2015, held at Dubai World Trade Centre.

Sheikh Mohammed bin Rashid, accompanied by Lt. Ge... more

Dubai's Dh25bn Mall of the World will now be a 'future city’

Sep 9 ,2015, city : Dubai

Dubai Holding is currently re-working the master plan of the mega Mall of the World development and now aims to build it as 'future city' of Dubai.

The new components of the development include residential and office with the master plan being re-engineered to integrate public transport systems in the form of Metro,... more

Maktoum opens Cityscape Global 2015

Sep 8 ,2015, city : Dubai

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, today officially opened Cityscape Global 2015, the Middle East’s largest international real estate exhibition.

After the ribbon cutting ceremony, Sheikh Maktoum toured the exhibition halls, stopping by major international developers’ stand... more

Dubai Holding hires exec to manage Mall of the World project

Sep 8 ,2015, city : Dubai

Dubai Holding on Tuesday announced the appointment of Morgan Parker as chief operating officer of Mall of the World, encompassing an 8 million square foot mall connected to a theme park, 100 hotels and serviced apartment buildings with 20,000 rooms.

Morgan joins Dubai Holding from the Rockefeller family-owned global private... more

Revealed: $54.4m penthouse to be sold in Dubai

Sep 8 ,2015, city : Dubai

Omniyat, the Dubai-based developer, said on Tuesday that it has the most expensive penthouse in Dubai which has a price tag of AED200 million ($54.4 million).

The company, which is taking part in Cityscape Global this week, said the luxury 20,000 square feet penthouse property was part of its The ONE at Palm project which i... more

Dubai South launches rent-to-own scheme at new Villages project

Sep 8 ,2015, city : Dubai

Dubai South has launched a rent-to-own scheme as a finance option for buyers in its upcoming ‘The Villages’ project, which was unveiled today at the Cityscape Global property exhibition in Dubai.

While the government-backed developer has not yet released details of how the scheme will work, rent-to-own initiativ... more

Affordability key to Dubai property price rises in Q3

Sep 8 ,2015, city : Dubai

Affordability is becoming a major driver in Dubai's real estate market as the prices of high-end properties continue to slump, according to Asteco.

Its mid-year UAE market report highlighted stability in Dubai's real estate market with a continued focus towards the affordable segment, in contrast to the luxury marke... more

Dubai set to rank real estate brokers on performance

Sep 7 ,2015, city : Dubai

Real estate brokers operating in Dubai are reportedly going to be ranked on their performance under a new system being introduced by the emirate's Land Department.

Brokers will be scored on five factors – experience, number of transactions, commitment to real estate regulations, structure of their offices and soci... more

Dubai’s SKAI plans third $272m hotel project near Expo2020 site

Sep 7 ,2015, city : Dubai

Dubai real estate firm SKAI Holding is currently in the initial planning stages for its third hospitality project in the city, it’s CEO and co-founder has confirmed.

“We have two or three concepts so I can’t comment [whether we've] decided on one or the other and the costs. It will be hospitality,&rdqu... more

Dubai's Damac launches Italian-inspired Merano Tower

Sep 7 ,2015, city : Dubai

Damac Properties, the Dubai-based real estate developer, has launched Merano Tower, an Italian-inspired luxury development which will overlook the Dubai Canal.

The 29-storey residential project in the Business Bay area has been conceptualized around the famous Italian spa town of Merano, the developer said on Monday.
... more

Dubai house prices slip 2% in Q3, further falls likely this year

Sep 7 ,2015, city : Dubai

Average rents in Dubai remained stable during the third quarter of 2015, although the market is highly fragmented with some affordable locations achieving growth and others experiencing more pronounced drops, according to CBRE.

Its report said there was further compression within the sales segment, with sales rates declinin... more

Dubai’s Damac unveils world’s first Bugatti-styled villas

Sep 6 ,2015, city : Dubai

Damac Properties will launch the world’s first Bugatti-branded homes at this week’s Cityscape Global exhibition, the Dubai developer announced on Sunday.

The limited edition collection, to be named ETTORE 971 Bugatti Styled Villas, will be located in the 55 million square foot Akoya Oxygen master development, ov... more

Dubai Properties to unveil new luxury JBR residences

Sep 5 ,2015, city : Dubai

Dubai Properties (DP) announced on Saturday that it will unveil its latest luxury residential development, 1/JBR, at Cityscape Global 2015, which will open in Dubai on Tuesday.

Located at the entrance of Jumeirah Beach Residence (JBR), the tower development includes five-bed penthouses and all apartments offer panoramic sea... more

Dubai-based Iranian firms eye expansion ahead of sanctions lift

Sep 5 ,2015, city : Dubai

Dubai-based Iranian businesses are already looking for more office space in anticipation of the lifting of sanctions against Iran, real estate consultancy Cluttons has revealed.

Its latest UAE property report indicates that the lifting of trade sanctions on Iran could boost the UAE's economic activity with Iranian busin... more

Dubai's 65,000 homes under construction 'will be absorbed'

Sep 5 ,2015, city : Dubai

More than 65,000 residential units under construction in Dubai will be absorbed by 2019 and the emirate will become a more affordable place, according to a new report.

Lookup.ae, a real estate information portal, said that approximately 45 percent of that future supply will be handed over during the next 18 months.
<... more

Dubai forecast to complete $82bn projects by 2020

Sep 4 ,2015, city : Dubai

Dubai will complete an estimated AED301 billion ($82 billion) worth of projects in the areas of housing, entertainment and infrastructure by 2020, a new report has said.

These large scale developments will create immediate demand in the work force, reducing the current occupancy rates of housing stock, said Reidin's rep... more

Nshama to launch $204k apartments at Dubai mega project

Sep 4 ,2015, city : Dubai

Town Square, the Dubai mega project being developed by Nshama, has unveiled Jenna, the first residential apartments in its main square.

Nshama said in a statement that the launch of Jenna offers the "unprecedented opportunity" to own homes at affordable prices within the heart of the 750-acre development.
<... more

Emaar to defy Dubai property price slide with Creekside 18 launch

Sep 3 ,2015, city : Dubai

Emaar Properties will launch off-plan sales of apartments at its Dubai Creek Harbour project, just days after a report which said property prices in the emirate saw the biggest fall in the world over the past year.

The Dubai developer will defy the recent slump in property prices and will hold a sales launch for Creekside 1... more

Dubai's Cityscape Global to target UK, Asian investors

Sep 3 ,2015, city : Dubai

The Middle East’s biggest property trade show starts next Tuesday, and is expected to demonstrate continued confidence in the UAE real estate market despite the recent slowdown in sales volumes and prices.

The organisers of Cityscape Global 2015 cited figures from the Dubai Land Department claiming that foreign invest... more

Qatari buyer behind deal for world's most expensive mews house

Sep 3 ,2015, city : Dubai

A Qatari buyer has reportedly paid in the region of $36 million (£24m) for a former garage in Mayfair, making it the world’s most expensive mews house.

London’s Evening Standard reports that the house, which was formerly a garage th at house Bentley racing cars in the 1920s, was also previously used as a s... more

Damac says to deliver first Dubai South homes 'within 6 months'

Sep 2 ,2015, city : Dubai

Luxury real estate developer Damac Properties said on Wednesday it is to deliver the first homes within the newly rebranded Dubai South project within the next six months.

The 145 square km city, which includes the Al Maktoum International Airport and the site for the World Expo 2020, has been re-branded as a new urban and ... more

Dh500,000 fine if rent cheques not in landlord's name: Dubai Land Department

Sep 2 ,2015, city : Dubai

If you are looking at renting a house in Dubai, ensure you are issuing the cheques in the name of the unit owner only.

Taking a tough stand on property management companies, the Dubai Land Department (DLD) has issued a circular, warning them of not to take any rental payments (cheques) in the company’s name.
more

Higher yields will bring property investors to Dubai: Deyaar CEO

Sep 1 ,2015, city : Dubai

Deyaar Development, a Dubai-based developer, has unveiled phase one of its Dh3-billion Midtown development in International Media Production Zone (IMPZ), expecting rental yields of 11 to 12 per cent will entice investors to buy in their mid-income housing project.

“Yields in our project are expected to be in today&rsq... more

Dubai sees world's biggest annual property price drop

Sep 1 ,2015, city : Dubai

Dubai's real estate market prices have fallen by the most in the world, according to Knight Frank’s Global House Price Index for the second quarter of 2015.

The index ranked Dubai's property sector 56th out of 56 markets covered around the world with an annual price slump of 12.2 percent.

Knight... more

Cheap oil hits level of UAE real estate deals in H1

Sep 1 ,2015, city : Dubai

Real estate markets in the UAE are seeing falling transaction levels as oil prices continue to decline, according to a new report by Cluttons.

With a 54 percent decline in the price of oil prices during the past 12 months, property markets in Abu Dhabi, Dubai and Sharjah are beginning to suffer, the real estate consultancy ... more

Dubai’s SKAI in $300m funding deal with some of China's biggest banks

Sep 1 ,2015, city : Dubai

Dubai real estate firm SKAI, the developer behind the Viceroy Dubai Palm Jumeirah hotel project, has secured $300 million in new funding from a range of local and international lenders, including some of the biggest banks in the world.

The syndicated finance package will be a dual Islamic and conventional facility and is ba... more