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Dubai authorities have warned against what it described as misleading information about its property market, saying recent reports about the completion of tens of thousands of new houses are incorrect. Sultan Butt bin Majran, Director-General of Dubai’s department of land and property, said around 10,000 new houses would be completed this year but added they[…]
Dubai 2 April 2011: Dubai Customs has recently launched “Dubai Customs Passenger Charter” which comprises a set of commitments of high quality customs services ensuring proper and fair treatment of all passengers coming to the UAE through air, land and sea entries in Dubai. The charter sets out the passengers’ rights and duties with regards[…]
Mar 28, 2011 – Dubai (UAE) – Dubai real estate prices have fallen further in Q1 2011. Price drops have varied across different areas. Areas seeing the highest falls are where new supply is the greatest. Other affected areas are those that offer low quality and have nearby areas where quality alternatives have appeared. Dubai[…]
KABUL—Afghanistan’s biggest lender Kabul Bank will be liquidated starting next month, in a step required by the International Monetary Fund to renew financial assistance to the country, Afghan officials said. Kabul Bank experienced a run on deposits last fall after massive fraud at the lender was exposed. The bank’s biggest shareholders, including a brother of[…]
House prices are sliding in countries around the world, reviving concerns of a double dip. Forty-one per cent of the countries tracked by the Knight Frank Global House Price Index reported negative growth in the fourth quarter of 2010. That compares to 31 per cent in the second quarter, when many analysts were hailing signs[…]
Investors and trade creditors may find themselves unable to pursue disputes against Nakheel in the Dubai World tribunal if plans to separate the debt-hit firm from its parent company go ahead. Nakheel chairman Rashid Lootah said in February the firm would be carved out of state-backed conglomerate Dubai World, as the company sought to restructure[…]
The number of projects registered under the Dubai Land Department’s (DLD) Tayseer programme has reached 114 and the first funding agreement under the scheme is expected to be finalised soon, a senior official told Emirates 24|7. “The second phase has already started with the number of projects approved under Tayseer programme now standing at 114.[…]
Emaar Properties PJSC will hold its 13th Annual General Meeting on Monday, March 28, 2011, at 5pm at the Constellation Ballroom of The Address Dubai Marina. The AGM will discuss and approve the report of the Board of Directors on the activities and financial position of the company and the company’s balance sheet. The AGM[…]
In a move that boosts market confidence and transparency Dubai Real Estate Regulatory Agency (RERA), the regulatory arm of the Dubai Land Department, announced it has completed receipt of financial statements for 70% of all real estate projects registered at RERA, by creating a new auditing system that is being implemented for the first time[…]
Deyaar Development said on Wednesday that net losses in 2010 were AED2.3bn ($626m) on the back of writedowns and extremely challenging market conditions. The Dubai-based real estate company said it was increasingly focusing its operations on its property management business rather than new-build projects. Saeed Al Qatami, CEO, Deyaar, said: “As we enter a period[…]
Apartment rents in some of Dubai’s most popular areas have fallen by about 30% in the last 12 months but villa rents are largely stable, it has been revealed. The latest figures from the emirate’s Real Estate Regulatory Agency show that apartment rents in Dubai Marina, Palm Jumeirah, Discovery Gardens, and Jumeirah Beach Residences have[…]
Dubai’s economy is projected to rebound by three to five per cent in real terms this year on the back of stronger performance in the tourism, trade and other sectors, a senior businessman from the emirate was reported on Sunday as saying.
Real estate prices in Dubai fell 1.7% in February and could fall up to 30% in next two years in a sign that the emirate’s beleaguered property market is still not back on track. The latest figures from Deutsche Bank show that although the pace of decline is slowing there is still likely to be[…]
Reports released yesterday offer contrasting perspectives on the state of UAE property markets. This year will be “better in Dubai”, thanks to increased transparency and improved investor confidence, Sultan bin Butti bin Mejren, the director general of the Dubai Land Department, said during a property conference.
DUBAI — More supply in Dubai’s residential market will aggravate the oversupply situation and will continue to put downward pressure on capital values, property analysts at Landmark Advisory warned on Wednesday.
Landmark Advisory, a leading real estate consultancy companies in the Middle East has stated in its Quarterly Report for Q4 2010, that capital values across all segments of the market in both Dubai and Abu Dhabi continued to decline during this period.
The emirate of Dubai is pushing ahead with 220 residential projects this year, the head of the emirate’s real estate watchdog said on Wednesday.
On a barren, sandy plot wedged between two luxury hotel developments on the Palm Jumeirah, about 50 men scramble in front of a line of 4x4s. They yell out their bids, hoping to snap up a Nissan Patrol or a Range Rover at bargain-basement prices.
DUBAI: Property owners will soon be able to compare the service charges they pay with an emirate-wide average, following the publication of a survey into benchmark fees that is set to boost transparency in the market.
Dubai property prices declined at a monthly rate of 1.7 percent in February, driven mainly by new supply, Deutsche Bank AG said.
It has been widely reported that as Dubai’s property market is maturing, hot spots have emerged where growing demand has caused prices to stabilise and in some places increase. This was initially caused by Dubai tenants taking advantage of the market and upgrading their lifestyles to better areas such as Dubai Marina. However it now[…]
The supply of fresh real estate in Dubai will tumble by nearly a third this year as developers hold back units in a bid to manage the city’s saturated property market, Jones Lang LaSalle said Sunday.
Dubai, March 14, 2011 -Under the Patronage of His Highness Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of DIFC, the United Arab Emirates will host the 3rd Arab Real Estate& Urban Development Conference on March 16 and 17 at the Grand Hyatt Hotel in Dubai. The Conference is[…]
An Irish property developer who moved to Dubai in 2009 has broken ground on a $140 million office block that will be a regional base for Standard Chartered Bank in the United Arab Emirates.
Dubai Marina, Palm Jumeirah and Burj Downtown are showing signs of stability Dubai’s real estate market is likely to bottom out in the next one year, while peer Abu Dhabi will at least a much longer time, according to Jones Lang LaSalle (JLL) experts.
