Abu Dhabi: The government is calling upon private firms and government agencies that are planning to establish operations in Abu Dhabi to encourage their staff to stay in the capital, according to the latest report published by Jones Lang Lasalle. The move is aimed at reducing the level of commuting from Dubai and also supporting[…]

Dubai: Forget the five per cent commission. A real estate agent has now been offered a 2008 Cadillac Escalade with just 11,000km on the clock as an incentive to sell an apartment on the Palm Jumeirah. Though all agents demand from clients these days is a well thought-out, competitive price, a few sellers are offering[…]

Dubai, UAE; March 1, 2011: The iconic attractions in Downtown Dubai, described as ‘The Centre of Now,’ can now be accessed by visitors with a new convenient addition – the luxury Trolley Buses. Emaar Malls Group, the shopping malls and leisure subsidiary of Emaar Properties, has introduced air-conditioned Trolley Buses, each with a capacity of[…]

Why compromise on size and location when your money goes so much further now? The year 2008 may have seen Dubai’s property market at its peak but it is better known for the buzzing market that, at that point of time, was ruled by speculators who mastered the art of flipping properties and making millions[…]

The development and creativity of the real estate industry will be showcased for the fifth consecutive year at the Cityscape Awards for Real Estate in Middle East and North Africa. After what has been a challenging year for global markets, the opportunity to boost morale and positivity within the industry could not be more poignant.

Libyan President Muammar Gaddafi and his family are estimated worth in several billion dollars, according to UK Guardian report. Despite the instant grasp of information that internet may provide, the Gaddafi family are smart enough to hide their wealth into secret bank accounts in Dubai and South-East Asia.

Top realty agency chiefs on the near-term future of commercial property at the financial center. With two million square feet of commercial space to be delivered by third-party developers in the Dubai International Financial Centre (DIFC), serious competition between property owners is expected to ensue, leading to downward pressure on rentals. That is the near-term[…]

Dubai: The raft foundation of Saudi Arabia’s Al Jawharah Tower has been completed, the project’s developer Damac Properties said yesterday. Drake & Scull, the project’s main contractors, has finished foundation work at the Jeddah-based development and completed all basement levels.

Aldar Properties, the capital’s biggest developer, fell to the lowest on record after shareholders approved a bond sale to Mubadala, its biggest shareholder The company fell nearly 6 per cent to Dh1.44, its lowest point since 2005. Aldar will offer 2.8 billion dirhams ($762 million) of convertible securities to Mubadala, an investment arm of the[…]

UAE builders that aggressively moved to diversify outside of Dubai during the global downturn now face exposure to the political turmoil in the region, and investors are getting nervous. Dubai-based developer Emaar, best known for building the Burj Khalifa, has Dh4.2 billion worth of projects in Egypt, about 15 per cent of its book value.[…]