DUBAI — The Dubai Real Estate Court ruled recently that a real estate firm should pay back Dh423,000 to a customer (the complainant in the case) after it has been proved that it had failed to complete a property project he had signed up to purchase.

Properties located near Dubai Metro’s soon-to-be-opened Green Line may benefit from a jump in rental rates as commuters favour houses with good transport links, Asteco said. Apartments near operating stations in Bur Dubai and Al Barsha have seen an up to 10 percent rise in rents, the real estate consultancy said in a report, and[…]

DUBAI: The Dubai Metro Green Line will open on September 9, making the driverless rail system the world’s longest. The new line has 18 stations over 23 kilometres and covers some of the emirate’s busiest tourist segments along the Creek, crowded residential areas, business districts and ministry offices.

(Reuters) – Property developer Nakheel NAKHD.UL will issue its long-delayed 4.8 billion dirhams ($1.3 billion) Islamic bond this week as it launches a five-year restructuring plan on Wednesday, its chairman told a local newspaper.

Dubai has seen a surge in investors, shoppers and tourists from China this year, analysts and industry experts across a number of sectors have reported. Dubai was one of the major real estate markets affected by the global recession, with around half of projects put on hold and prices dipping up by up to 60[…]

DUBAI — A boost in villa demand has more than offset a continued decline in apartment sales to lift Dubai’s listless residential market, Landmark Advisory, a real estate consultancy, said 
on Monday. “There has been a solid rise in interest in residential sales across Dubai in certain established and prime residential areas such as Downtown[…]

Dubai: Emaar Properties yesterday revealed that it saw a 20 per cent increase in hospitality revenues in the second quarter of 2011. Revenues from its hospitality segment grew to Dh283.76 million in the second quarter from Dh236.1 million in the same period in 2010, Emaar said in a financial statement posted on the Dubai bourse’s[…]

Gulf stocks were mixed on Thursday in reaction to continued volatility in global markets as investors worry over a potential new US recession. The Dubai Financial Market index, which dropped more than one per cent at the opening, managed to climb back to the green, closing 0.21 per cent up at 1,464.00 points.

DUBAI: A luxury villa on Dubai’s Palm Jumeirah has been sold for nearly USD 7.6 million at an auction, bucking the trend that saw property prices on the island decline steeply in the recent months.

The UAE’s decision to grant three-year residency visas for property worth more than AED1m is unlikely to give any boost to Dubai’s beleaguered real estate market, Mishal Kanoo has said. The leading Arab businessman and deputy chairman of the Gulf conglomerate Kanoo Group said property prices in new Dubai were leveling out but could still[…]