Latest Real Estate News in UAE

Why now is the best time to buy a home in Dubai

Sep 30 ,2016, city : Dubai

The best time to buy residential property is a couple of years after prices have peaked and the market has fallen but has now stabilised. Then you have the widest choice of units, little competition and can get the home you want for the lowest price, albeit you should also be able to see a catalyst on the horizon that will buck the whole ... more

Jafza remains the exception in subdued industrial realty

Sep 29 ,2016, city : Dubai

Dubai: The Jebel Ali Free Zone remains the exception in what continues to be a subdued market for industrial real estate locations in Dubai over the first half the year. Warehousing properties there are recording year-on-year gains of around 3 per cent and have occupancy levels of less than 5 per cent, according to new data from CBRE.
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Dubai realty sees a studio rush

Sep 29 ,2016, city : Dubai

Dubai: Prospective buyers eyeing off-plan launches in Dubai are being spoiled for choice.
Over the next few days, they have the option to choose a Dh285,000 studio at Dubai South (at The Pulse cluster) or opt for a Dh895,000 unit right at the heart of Downtown Dubai and “adjacent to the Canal”.
If all goes well, ... more

‘Dubai-on-Thames’ welcomes Apple as its biggest office tenant

Sep 29 ,2016, city : Dubai

One of London’s most famous landmarks – and the the largest brick building in Europe – is about to get an injection of ultra-high tech glamour as Apple moves into the capital’s Battersea Power Station.

The US technology juggernaut will be the largest office tenant at Battersea Power Station (BPS) occ... more

Dubai tenant prohibited from storing kayak and fishing equipment in allocated parking space

Sep 29 ,2016, city : Dubai

I have lived in an apartment in Dubai for more than 10 years and have always stored a few things behind my allocated basement parking spot – a kayak and a cupboard of fishing equipment, which the landlord accepted. However, this week, the landlord contacted me and said there had been a Municipality inspection and I had to remove eve... more

Dubai developer-contractor pours deep for a Guinness record

Sep 28 ,2016, city : Dubai

Dubai
A residential high-rise project in Dubai has been conferred with a Guinness World Record for the “longest continuous pouring of concrete” undertaken at its site earlier this month. The process — involving 20,000 cubic metres of concrete — took up 42 hours at a stretch at the Geepas Tower site in the Ar... more

Dubai’s residential price decline set to slow, says Deloitte

Sep 28 ,2016, city : Dubai

Dubai property prices will continue to fall for the rest of the year, but the rate of decline will be slow, according to a new report by Deloitte.

In an update to its Middle East Real Estate Predictions report published in January, the Big Four accountancy firm said that residential prices continued to drop by 3.8 per cent ... more

Real estate brokers in Dubai now need to gain approval for property ads

Sep 28 ,2016, city : Dubai

Dubai property brokers will need approval before issuing advertisements and social media campaigns under new rules.

Brokers this week received a circular from the Real Estate Regulatory Agency (Rera) alerting them to the need to apply for permits before issuing "any real estate announcements" – this includes... more

Tunnelling work for Doha Metro’s first phase complete

Sep 28 ,2016, city : Dubai

Qatar Rail has completed 111 kilometres of tunnelling work required to deliver the first phase of the Doha Metro project.

The organisation overseeing the delivery of the country’s rail transport networks said the ­final breakthrough was made when one of its tunnelling machines, Msheireb, broke through at Terminal ... more

Emaar to build twin-towered hotel and residential project at Dubai’s JBR

Sep 27 ,2016, city : Dubai

Emaar Properties plans to build its first beachfront hotel project in Dubai – The Address Jumeirah Resort and Spa at Jumeirah Beach Residence (JBR).

The company said that the resort will contain a pair of 74-storey towers at the end of Dubai Marina, with 100 metres of beachfront looking out on to Meraas Holding’... more

Aldar to start selling homes at third phase of Yas Acres

Sep 26 ,2016, city : Dubai

Aldar will on October 4 start selling 260 villas and town houses under the third phase of its Dh6 billion Yas Acres, the Abu Dhabi developer’s flagship golf and waterfront development on Yas Island.

The project for the first time will offer two-bedroom town houses, alongside three-bedroom town houses and three- and fo... more

Big Apple polishes up its property act – in pictures

Sep 23 ,2016, city : Dubai

A continuing boom in the New York office workforce have spurred the maintenance and refurbishment sector for buildings in New York City. Office employment in the Big Apple, which in March topped 1.9 million for the first time, is set for its sixth straight year of growth, said the New York Building Congress (NYBC) in its 2016 New York Cit... more

Dubai property set for return to growth next year, says Knight Frank

Sep 23 ,2016, city : Dubai

Dubai’s residential property market is heading for a "soft landing", with a flattening of prices expected for the remainder of this year ahead of a likely increase next year, according to Knight Frank.

The property consultancy’s latest Inside View report released yesterday says that after "a perio... more

River deep, price high at super luxury Dubai villa

Sep 23 ,2016, city : Dubai

This villa may be in Dubai but, for those who have never visited Al Barari – the development just off Sheikh Mohammed Bin Zayed Road – it feels as though you have accidentally traipsed into a lush forest or tropical jungle.

Such is the focus on the surrounding greenery that there are more than 2,000 species of t... more

Dubai landlord orders tenant via WhatsApp to leave in three weeks as ‘villa to be destroyed’

Sep 22 ,2016, city : Dubai

I received a notice to vacate from my landlord via WhatsApp, rather than by letter. He said he had to evict because the municipality ordered him to destroy the villa. Should he pay me back some penalties since he is asking me to evict within three weeks? SC, Dubai

Law 33 of 2008, which amends Law 26 of 2007, states many rea... more

Azizi Developments launches Dh250 million residential project at Al Furjan in Dubai

Sep 22 ,2016, city : Dubai

Azizi Developments on Wednesday launched the Dh250 million Azizi Shaista Residence project at Al Furjan in Dubai.

The 12-storey development will have 284 residential units – 137 studios, 124 one-bedroom apartments and 23 two-bedroom apartments – when completed in 2018.

"Azizi Shaista Residenc... more

Dubai set to gain as prime London home values slide

Sep 22 ,2016, city : Dubai

Post-UK referendum uncertainty has compounded the impact of successive tax rises on values in London’s prime housing market and will delay the sector’s return to growth while boosting the Dubai market, according to a report by the international property adviser Savills.

The report says there have been signs of r... more

Activist shareholder succeeds in removing Hill International’s founder from its board

Sep 21 ,2016, city : Abu Dhabi

The US construction consultancy Hill International has acceded to demands from the activist shareholder Bulldog Investors by removing three directors, including the founder Irvin Richter.

The company, which earned 48 per cent of its US$631 million in consulting fees from the Middle East last year, stated that it had settled... more

Emiratis among leading investors in Europe’s prime ski resorts

Sep 21 ,2016, city : Abu Dhabi

Emiratis were among the top eight buyers of properties in ski resorts last year, according to a new study by consultancy Knight Frank.

The company’s annual Ski Property Report, which looks at trends in key global ski resorts, said that the range of nationalities buying in the most popular resorts in France, Switzerlan... more

Gulf Related chief bullish on prospects for Al Maryah Central despite market slowdown

Sep 20 ,2016, city : Abu Dhabi

Michael Fahy

Developer Gulf Related is bullish about the prospects for its US$1 billion Al Maryah Central development after announcing that 50 per cent of the retail space within the 2.8 million square feet project has already been let.

Ken Himmel, the company’s co-managing partner, yesterday acknowledg... more

Al Maryah Central mall in Abu Dhabi now 50 per cent leased by retailers

Sep 20 ,2016, city : Abu Dhabi

The developer behind the US$1 billion Al Maryah Central in Abu Dhabi has said that it has already leased 50 per cent of the space at the development, with 785,000 square feet of commitment secured from major UAE retail groups.

However, Gulf Related also stated that the project will not now open until August 2018, which is f... more

Forum Group to build Palm Jumeirah luxury villas

Sep 19 ,2016, city : Dubai

A Russian-backed property developer plans to develop luxury villas on Palm Jumeirah.

Forum Group wants to build 22 luxury villas on the crescent of the artificial island close to hotels such as the Kempinski and Jumeirah Zabeel Saray.

The 500,000 square feet development will be called XXII ­Carat villas s... more

Dubai’s office high-rises are within reach

Sep 16 ,2016, city : Dubai

Dubai: Seems like a good time for corporate tenants to rent — or renew their leases — in Dubai’s skyscrapers. With rents unchanged on prime floors during the six months to the second quarter of 2016, Dubai’s office high-rises slipped to the 20th spot in the global rankings of cities with the costliest rentals, acco... more

Dubai and Abu Dhabi named Middle East’s most sustainable cities

Sep 15 ,2016, city : Dubai

Dubai has been named as the region’s most sustainable city, but it still falls in the bottom half of a new global ranking of 100 major cities.

Construction consultancy Arcadis has placed Dubai 52nd in its 2016 Sustainable Cities Index, which was compiled by the Centre for Economic and Business Research. Abu Dhabi was ... more

Dubai landlady refused to do maintenance for nine years – should villa be returned in good condition?

Sep 14 ,2016, city : Dubai

I have lived in the same villa for 11 years and after the second year the landlady refused to do any maintenance. We pay for all essential items including AC compressors, electrics, plumbing etc. We are now leaving so do we have to fill holes and paint the property taking into account she has done nothing in nine years? MO, Dubai
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In Dubai realty, Dh1m is the new price point to fight for

Sep 13 ,2016, city : Dubai

Dubai: Properties in the Dh1-1.5 million range will be the new battleground as Dubai’s private developers take on the affordable homes’ initiative from master-developers. It will also mean that developers will have to be quick to acquire plots in emerging locations to ensure they can get their costs right.
“The ma... more

Middle East ‘wave of capital’ targeting London properties

Sep 12 ,2016, city : Abu Dhabi

Middle East property investors are targeting the UK’s commercial property sector after the Brexit vote, according to investment specialists from CBRE.

Ed Bradley, a senior director for investment properties in CBRE’s London capital markets team, said that the decline in prices as a result of the fall in the valu... more

Penalty for delays? Why Dubai’s new home owners are not moving in any time soon

Sep 10 ,2016, city : Dubai

DUBAI: “But where’s my property?”

The many who bought into the great off-plan launches Dubai realty saw from 2012 are starting to ask this question of their developers … and probably not getting much by way of a reply.
For them, the long wait continues for their properties to be delivered. more

Bloom Holding looks to finalise deal on affordable housing project near Abu Dhabi airport

Sep 9 ,2016, city : Abu Dhabi

Bloom Holding is hoping to finalise a deal that will allow it to develop a 2.2 million square metres plot of land near Abu Dhabi airport by the end of the year.

The chief executive Sameh Muhtadi said that Bloom expects to be able to put about 13,500 homes on the site, and that 2,000 of these would be affordable properties.<... more

Dh13.5 million Elite Residence penthouse is swimming in luxury

Sep 8 ,2016, city : Dubai

For regular readers of this column, a penthouse in a tall building in Dubai is going to sound a little passe. But this luxury pad takes up half of the 77th storey of the 92-floor Elite Residence, offering 6,246 square feet of space.

There are four bedrooms, all en suite, and the master also comes with a four-seater Jacuzzi ... more

Dubai residents call for relaxation of mortgage rules

Sep 8 ,2016, city : Dubai

A sluggish Dubai property market is reviving calls to relax mortgage caps and kick-start a real estate recovery.

Big project launches at the annual Cityscape Global exhibition in Dubai this week were not enough to distract attention from a stubbornly subdued property market. The focus naturally turned to what could be done ... more

Expo 2020 buildings to be ready year early for trial events on site

Sep 8 ,2016, city : Dubai

The bulk of the buildings proposed for the Expo 2020 site will be ready by the end of 2019 to allow for a number of trial events to take place early in 2020, the project’s organisers said.

Enabling works are under way at the site, and a contractor is already in place to deliver the first of three major infrastructure ... more

Abu Dhabi rents falling but still one of world’s most expensive places to live

Sep 6 ,2016, city : Abu Dhabi

Average monthly rents for residential property in Abu Dhabi may be falling but they are still the third most expensive in the world, a new report has shown.

According to CBRE’s Global Living Report, average monthly rents in Abu Dhabi now stand at US$2,558 (Dh112,740 a year) exceeded only by those in Singapore and Lond... more

Dubai’s Taqdeer assessment starts, but major contractors miss out on labour welfare initiative

Sep 5 ,2016, city : Dubai

Assessments have started for the Dubai Government’s first ever Taqdeer Awards, but the initiative has yet to entice some of the major names from Dubai’s contracting community.

Taqdeer was launched in October last year by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and chairman of the Dubai Executive Counci... more

Jumeirah Central executive ‘overwhelmed’ by interest

Sep 5 ,2016, city : Dubai

The man charged with delivering the Dh73.4 billion Jumeirah Central project has said he is confident it will attract investors because it is "the greatest piece of real estate in the region".

Morgan Parker, the chief operating officer of the Jumeirah Central project, said it has held "hundreds" of meetin... more

First phase of Jumeirah Central project in Dubai to cost Dh24 billion

Sep 5 ,2016, city : Dubai

The new Jumeirah Central project will cost Dh73.4 billion to build, with the proposed first phase set at Dh24bn.

The project is based on the former site of the Mall of the World project and is set to contain a total of 278 projects in total. Although developer Dubai Holding did not say how many phases would be developed in ... more

Right time to go shopping for cut-price villas in Dubai

Sep 2 ,2016, city : Dubai

Dubai: Want to buy a villa without having to spend too much? Or as much as it would have cost to buy one in mid-2014?
Dubai’s residential clusters such as Jumeirah Village, Arabian Ranches and Green Community now of-fer a price point many investors/end users would be comfortable with, according to new data re-leased by Core U... more

Nakheel confirms 1.2m square feet mall for Nad Al Sheba

Sep 2 ,2016, city : Dubai

Dubai: The developer Nakheel continues to step up the pace on its retail-specific projects with the launch of a new 1.2 million square foot mall in Nad Al Sheba. And as with its earlier mall/shopping centres, this one too is anchored deep into one of its community developments.
This particular residential cluster will have 1,500 vi... more

Dubai house prices move into positive territory for first time in two years

Sep 1 ,2016, city : Dubai

Saying you own a penthouse will interest many, but owning one in the tallest building in the world is enough to pique anyone’s interest around the world.

House prices in Dubai moved into positive territory for the first time in two years in the second quarter, according to Core Savills.

The property con... more

Penthouse living in the world’s tallest building

Sep 1 ,2016, city : Dubai

Saying you own a penthouse will interest many, but owning one in the tallest building in the world is enough to pique anyone’s interest around the world.

After all any property in the Burj Khalifa comes with a certain kudos, even without the glamour of Tom Cruise and Mission Impossible.

In this case, th... more