Dubai Real Estate

Half the buyers in a Dubai Sports City apartment project are defaulting on their purchases, underscoring the problems facing developers in the Dubailand development.

Dubai’s outstanding debt is estimated at around $34.1 billion but it remains manageable as it accounts for only around 38 per cent of the GDP and the emirate’s economy appears to be rebounding, a key Saudi bank has said.

His Excellency Mattar Al Tayer, Chairman of the Board and Executive Director of the Roads and Transport Authority (RTA), revealed that mass transit modes in Dubai comprising Dubai Metro, public buses, water transport and taxicabs, have lifted in the first half of this year 180,544,372 passengers.

Jones Lang Lasalle recently released its report highlighting current trends in the property market of emirates. Property prices in many areas have shown quick recovery especially in the luxury villas category.

The Dubai real estate market has again become bloated with another 18,000 homes expected to be put up for sale by the end of the year. There have been property oversupply problems in Dubai for some time, with prices being pushed further down. The 18,000 homes will be ready for occupancy by the fourth quarter[…]

It was in early March when the weather was still cool enough to pause for a moment after loading the Prado with groceries, that shoppers at the Spinneys supermarket in Umm Suqeim first noticed four scaffolding-clad towers emerging above the rooftops of nearby villas and mansions.

Dubai has more hotels under construction than any other city in the world, according to a new report by hotel projects tracker, tophotelprojects.com The Middle East tourist hotspot currently has a massive 97 hotels under development and 35,154 rooms due to come online, more than its rival getaways New York (43), Berlin (49) and even[…]

The Dubai property market is showing good signs of a recovery, with many neighbourhoods reporting the first increases in value since 2008, a new industry report has revealed.

Investors can stay in UAE for three years without leaving and sponsor their families. Details surrounding the new three-year real estate visa announced by the UAE government last week are flying in thick and fast. While this website on Monday spoke to a source who claimed to be in the know as to what was[…]

On June 28, the UAE government approved plans to extend the residential visa from six months to three years in a bid to boost the ailing real estate sector. While the new visa is seen as a positive step forward, analysts say other factors weighing down the market are likely to continue to impede demand[…]

DUBAI: Residents of the emirate are highlighting what they claim are widespread inconsistencies in Dubai Municipality’s housing fee. Many say the municipality is overcharging them on the monthly fee, taking too long to process requests for corrected rates, and refusing to refund the excess charges they have paid. Others admit they are paying nothing at[…]

Overseas Property investors are once again being courted by the United Arab Emirates with the extension of the residency visa scheme currently at six months to a term of three years for those foreigners buying property in the Emirates.

Dubai-based developer DAMAC Properties has predicted that planned government spending of USD 452 billion on Gulf Cooperation Council (GCC) infrastructure projects will begin to resonate in regional property markets within the next 12 months.

DUBAI – The UAE government decision to extend the residence visa period for real estate investors to three years will significantly enhance investor confidence and drive the growth of the country’s property sector, a top official of Emaar Properties said.

It seems that the confidence in Dubai real estate market is stabilising with one of the Largest European banks dropping interest rates significantly to 5.49 % and the bank also increased loan to value rates from 70 to 80% for eligible and qualifying clients.

Index, the 80-storey building developed by Union Properties, has been awarded the 2011 Best Tall Building Award for the Middle East and Africa region by the Council on Tall Buildings and Urban Habitat (CTBUH).

As Dubai continues to struggle with its real estate woes, the latest sign that things are not yet quite set to improve comes with the report that Dubai’s real estate watchdog organization has canceled around 217 registered property projects since 2009[1]. The group, called the Real Estate Regulatory Authority (RERA), reviewed about 450 projects in[…]

DUBAI (Zawya Dow Jones)–Nakheel, the real-estate unit of Dubai government-owned conglomerate Dubai World, Wednesday said its chief executive, Chris O’Donnell, will step down by mid-June after five years in the post.

Jones Lang LaSalle (JLL) has claimed that Dubai’s real estate sector is set to witness some stability in capital values over the coming 12 months. The firm noted that Abu Dhabi will see highest value declines over the period.

DUBAI — The forthcoming Indian Property Show is expected to generate business worth Rs2.5 billion ($58 million) as 50 leading developers are ready to feature more than 250 projects in Dubai on June 16. The eight edition of the much-awaited property show is back on popular demand and is scheduled from June 16 to 18[…]

Islamic trusts seen lifting confidence in GCC real estate; Gulf investors still inclined towards real estate Jordanian Ashraf Hamdan began investing in Dubai’s real estate market in 2006, with a few modest rental investment forays before turning his sights on flashier projects as a wave of luxury developments hit the market.

The Dubai Metro’s Green Line will go online in September, with 16 stations open to the public, the Roads and Transport Authority said yesterday. The 23-kilometre Green Line, which starts at the Etisalat Station in Al Qusais near Emirates Road, will be missing two stops at first: the Al Jadaf and Creek stations. Those facilities[…]

Dubai’s real estate is likely to witness some stability in capital values while Abu Dhabi will see highest value declines over the next 12 months, a latest Jones Lang LaSalle (JLL) survey has said. “While Dubai is already passed the supply peak, Abu Dhabi is still approaching the peak of the supply cycle. Thus, Abu[…]

Dubai: With mortgage rates and property prices easing, owning a home can be a smarter choice for some residents in the UAE. Some housing experts said acquiring a property at current rates through a 25-year mortgage actually comes out cheaper than renting an apartment in the UAE, if extra fees are not taken into account.

Barclays have confirmed that they have sold their first reposed property in the Emirate of Dubai, the small villa located in the Springs area of Emirates Living Dubai a collection of small attached townhouses was sold at auction indicating a reserve of 1.2m aed finally selling for 1.22m aed.