Dubai-based Emaar Properties clarified today that with Dubai government taking over Dubai Bank with immediate effect earlier this week, the real estate company, which had a 30 per cent stake in Dubai Bank, will write off its investment in the bank in the second quarter of the year.

Nakheel will be carved out of parent company Dubai World and become a government-owned entity by June, when its efforts to restructure $10.8bn in debt will be complete. “Nakheel separation has not occurred as yet, but will happen once the restructuring is finalised which is due to be completed by June,” a company spokesperson told[…]

Tameer Holding, a leading property developer in the Middle East, has completed the superstructure on its 91-storey Elite Residence project in Dubai Marina. The superstructure rises to a height of 355m, with the tower set to reach a final height of 381m.

Not only has Dubai’s economy improved significantly and its tourist numbers return pre-recession levels but it has now been announced that property transactions have jumped by 20% in just 3 months. RERA’s (Real Estate Regulatory Agency) CEO Marwan Bin Ghlaita said “The total value of transactions in Dubai in the first quarter was Dh30 billion[…]

The Dubai Land Department (DLD) will soon launch – Simsari.com – its official property listing website, Emirates 24/7 can reveal. “The website is ready and will be launched officially in the coming days. Only listed brokers will be allowed to register properties, be it off plan, or completed units for leasing or selling,” Khalifa Al[…]

Damac Properties, has been selected by the Dubai Land Department as one of few developers to be granted access to the department’s electronic property registry system (Oqood system), for the purpose of remotely completing resale transactions for off-plan property transactions.

If you drive out on the highway towards Abu Dhabi past the Jebel Ali Free Zone, look on the right and you will see, partly covered in sand, the remnants of the billboards that used to declare, “Where the Vision of Dubai Get’s Built”.

Nakheel, the troubled Dubai developer restructuring $10.8 billion in debt, has confirmed it is no longer selling real estate units in the emirate. The state backed company, which overstretched itself building islands in the shape of palms and other ambitious projects, said it is to focus instead on offering swap options to existing investors.

Transaction activity is on the rise as finance becomes more readily available Residential property prices in Dubai are showing signs of stabilization and in some good localities in the city prices are already going up, albeit in a more rational manner.

Demand for property in the UAE could be set to rise following a recent report from a leading real estate firm in the region. Research relating to the first three months of 2011 by Asteco has revealed that, for the first time in two years, the Dubai property market has stabilised.