Global icon Burj Khalifa, the world’s tallest building, dominated Dubai’s biggest residential real estate deals in 2011, occupying three among the eight biggest residential deals for the year, besides occupying the top two slots. The largest residential real estate transaction in Dubai last year was registered in Burj Khalifa with the price topping Dh28 million,[…]

Luxury developer DAMAC Properties is offering a 24% rental return guarantee on all units purchased within its Burjside Terrace serviced apartment development in Dubai. The developer is offering a guaranteed tax-free 8% annual rental return over three years, in a move aimed at increasing investor confidence in the stability and security of the property market[…]

Wealthy Afghans are pouring millions of dollars into the UAE property market, in the run up to NATO withdrawing from the country in two years time. According to a number of estate agents spoken to by Arabian Business, properties in the Palm are amongst the areas being targeted for cash deals.Wealthy An estimated $8bn is[…]

The tallest dedicated hotel building in the world is set to open later this year in Dubai. The JW Marriott Marquis will consist of two towers, both 355 meters tall, just 26 meters shy of New York’s Empire State Building, according to the company.

Property prices for luxury apartments in the Burj Khalifa, the world’s tallest tower, have fallen to as low as AED2,100 per sq ft, real estate experts have told Arabian Business. High service charges coupled with distressed sales are being cited as the reason for the drop.

Jumeirah will see the release of 270 new housing units in the coming months as Dubai Real Estate Corporation (DREC) begins leasing for its Wasl Square project. The project, dubbed — the Jewel of Jumeirah — by the company, will have 140 apartments and 130 townhouses. The project will consists of 26 one-bedroom apartments, 114[…]

Dubai’s real estate market is seeing “selective stabilisation”, with a pick-up in transactions expected early next year, Cluttons said on Tuesday. The real estate company said in a statement it has taken on 10 new staff “to meet demand in the New Year”, adding that prices were close to bottoming out in Dubai.

Individual apartment owners, offering their units on short-term lease such as on daily or weekly basis, should have a license and must incorporate a company to run such a commercial activity, a senior government official told Emirates 24|7.

Dubai homeowners are bearing the brunt of inflated service fees caused by suppliers paying off developers to secure maintenance contracts at above-market prices, industry experts said. The kickback culture has seen some homeowners pay over the odds for services such as cleaning, landscaping and maintenance as developers favour companies offering bribes.

It will be a broader recovery for the Dubai residential market in terms of prices and rentals next year than just some pockets showing signs of stablistation this year, according to Jones Lang LaSalle (JLL).