While overall property values are still to reach the bottom, luxury property in Dubai is already on an upward trend backed by higher sales, local realtors said. One agent pointed towards a “large increase” in the values of villas on the Palm Jumeirah, while prices for Emirates Hills villas had appreciated by between 10 and[…]

Tamweel, the Dubai-based Islamic mortgage lender, has entered the non-resident home loan market with the launch of two new financing products. The move, which makes Tamweel the first UAE lender to tap into overseas property investors, comes a month after the Government announced a new three-year visa scheme to overseas buyers of homes worth more[…]

Investment bank Rasmala reckons a 20 per cent downside potential to property prices in Dubai, estimating that an additional 35,000 homes will be delivered in the emirate between 2011 and 2013 – boosting the existing housing stock of an estimated 330,000 units by about 10 per cent.

Dubai is in the Top 10 of most popular business locations in the world according to Business Footprints – Global Office Locations, a new report by the world’s largest real estate services firm, CB Richard Ellis (CBRE).

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.