PropertyZaar.com

Category: Content
Type: Blog Article

Generated 4 weeks ago

New blog articles detected

  • Dubai residential prices show positive signs in January

    Residential property prices in some communities in Dubai have begun to show positive month-on-month change for the first time in 12 months, new research reveals. Areas including Al Furjan, Discovery Gardens and Dubai Silicon Oasis showed modest increases of between 0.0 percent and 0.12 percent for the month of January, according to agency Cavendish Maxwell’s… The post Dubai residential prices show...

  • Dubai property market to gather pace as Expo 2020 approaches

    Dubai’s residential property market is expected to perform “better” as Dubai Expo 2020 nears although prices and rents will decline between 5 and 10 percent this year, according to S&P Global Ratings. In January, Expo 2020 Dubai said it will award 47 construction contracts worth $3 billion (AED11 billion) this year as preparations for the… The post Dubai property market to gather pace as Expo 2020...

  • Average Abu Dhabi rents forecast to decline further in 2017

    Average rental rates in Abu Dhabi for apartments and villas fell by 7 percent and 5 percent respectively during 2016 and are expected to soften further in 2017, according to real estate consultancy Asteco. Its Abu Dhabi Real Estate Report Q4 2016 report said the decline will be exacerbated by new supply to the market… The post Average Abu Dhabi rents forecast to decline further in 2017 appeared fi...

PropertyZaar.com

Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • Dubai’s Nakheel unveils new $231m Ibn Battuta project

    Developer Nakheel said on Wednesday it has begun work on a new 55-storey residential tower, 16-screen cinema complex, multi-storey car park and retail expansion at Ibn Battuta Mall in Dubai. Nakheel said in a statement that has awarded a contract o Dubai-based National Gulf Constructions for enabling works at the site, located on the southern… The post Dubai’s Nakheel unveils new $231m Ibn Battuta...

  • Dubai property prices near 2014 peak: report

    Property prices in two residential areas of Dubai are now less than 5 percent below their peak in 2014 as values edges upwards, according to a new report. Real estate consultancy ValuStrat said values in Motor City are now being recorded at only 3.2 percent below peak, followed by Dubai Production City at 4.5 percent… The post Dubai property prices near 2014 peak: report appeared first on Property...

  • Dubai set to launch ‘unified’ rental lease in March

    All tenancy agreements in Dubai will be issued in connection with registration body Ejari from March to increase transparency in the market, Dubai Land Department (DLD) announced on Wednesday. At present, the statutory Dubai lease is issued separately from the Ejari system and tenants are obliged to register their contract with Ejari afterwards. The new… The post Dubai set to launch ‘unified’ rent...

  • DLD, Nasdaq Dubai sign MoU to facilitate real estate-related listings

    The Dubai Land Department and Nasdaq Dubai have signed a Memorandum of Understanding (MoU) that will help real estate companies that are considering listing on the stock exchange. The MoU will see the two entities collaborate in order to facilitate the listing of companies that are active in the real estate sector as well as… The post DLD, Nasdaq Dubai sign MoU to facilitate real estate-related li...

  • Dubai’s Emaar says to reopen fire-hit Address hotel by year-end

    Dubai’s Emaar Properties intends to reopen its landmark Address Downtown hotel by the end of the year, some two years after the skyscraper was gutted by fire following an electrical fault, its chairman told Al-Arabiya TV on Tuesday. Mohammed Alabbar was speaking after the developer reported a 56 percent rise in fourth-quarter net profits, boosted… The post Dubai’s Emaar says to reopen fire-hit Add...

  • Buyers want more for their money, says Damac

    Dubai luxury developer Damac said the current property market conditions have led to buyers seeking better value. Dubai’s Damac Properties reported a 1.3 percent rise in its fourth-quarter net profit on Tuesday, according to Reuters calculations. The developer reported a net profit of 854.6 million dirhams ($232.7 million) for the three months to Dec. 31,… The post Buyers want more for their money...

  • Aldar Properties expects lower 2017 sales after flat Q4 profit

    Aldar Properties expects lower sales in 2017, its chief financial officer said on Tuesday after the builder of Abu Dhabi’s Formula One circuit reported flat fourth-quarter profit. Net attributable profit fell to 727.9 million dirhams ($198.2 million) for the three months to Dec. 31 from 734.6 million a year earlier, Reuters calculated from Aldar’s annual… The post Aldar Properties expects lower 20...

  • Property supply glut could give Dubai tenants upper hand in 2017

    Tenants in Dubai could have the upper hand when negotiating rental rates thanks to a significant amount of stock coming to the market in 2017, according to real estate consultancy Asteco. Its new report said there are 31,500 apartments and 12,500 villas and townhouses scheduled to be delivered this year in areas including City Walk… The post Property supply glut could give Dubai tenants upper hand...

  • Abu Dhabi residential rents forecast to fall further in Q1

    Rents in Abu Dhabi will be under pressure in the first quarter 2017 due to economic uncertainties and redundancies due to shrinkage of the oil and gas sector, according to Chestertons. The consultancy said on Sunday average apartment rents have fallen by seven percent in 2016, while villa rents fell 10 percent. “We expect the… The post Abu Dhabi residential rents forecast to fall further in Q1 app...

  • Eric and Donald Trump Jr to attend Dubai golf club launch

    US President Donald Trump’s two sons Eric and Donald Jr are set to attend the launch of The Trump International Golf Club in Dubai this month as guests of honour, it has emerged. It has yet to be confirmed whether the sons will formally launch the facility, a spokesperson for the club told Arabian Business.… The post Eric and Donald Trump Jr to attend Dubai golf club launch appeared first on Prope...

PropertyZaar.com

Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • Danube Properties says 95% of ‘Miraclz’ project sold

    Danube Properties has announced that 95 percent of the recently launched Miraclz project has been sold. The $109m (AED400m) ‘Miraclz’ tower, located at Dubai’s Arjaan neighbourhood close to Miracle Garden, has of 591 apartment units ranging from studio to two bedroom apartments. Each unit where each home is fully furnished and equipped with modular furniture,… The post Danube Properties says 95% o...

  • Property developer eyes growth in Europe, US instead, says founder PNC Menon

    Dubai developer Sobha Group has ruled out expansion elsewhere in the GCC but plans to be in “one other non-Middle Eastern, non-Asian territory by 2020”, its founder and chairman told Arabian Business. Indian-born PNC Menon said “a lot of opportunities” had arisen to expand the company outside the UAE and into other Gulf states. At… The post Property developer eyes growth in Europe, US instead, say...

  • Abu Dhabi looks for spark in residential sector

    Abu Dhabi’s real estate market witnessed a continued slowdown last year, triggered by the decline in oil prices and subsequent impact on government spending, and consolidation of businesses across various sectors. Against this backdrop of macroeconomic uncertainty, landlords have come under increasing pressure as tenants look for more affordable accommodation, with large units being the… The post ...

  • UAE gets its first Sharia-compliant residential Reit

    Equitativa Limited on Sunday launched the first Sharia-compliant residential real estate investment trust (Reit) in the UAE with a seed portfolio of $113.89 million (AED418 million). The company floated Emirates Reit, the first Reit in the country, in 2014. It is listed on Nasdaq Dubai with $763m (AED2.8 billion) portfolio of office buildings, schools and… The post UAE gets its first Sharia-compli...

  • Last plot of land in Dubai’s JBR to get $272m luxury tower

    Dubai Properties on Sunday awarded the main construction contract for the $272 million (AED1 billion) 1/JBR, a 46-storey luxury tower which is slated for completion in the fourth quarter 2019. The contract was given to Dubai Contracting Company, but not value was disclosed. The enabling work on the 46-storey tower– being built on the last… The post Last plot of land in Dubai’s JBR to get $272m lux...

  • Abu Dhabi villa prices seen falling by at least 15% in 2017

    The post Abu Dhabi villa prices seen falling by at least 15% in 2017 appeared first on PropertyZaar Official Blog.

PropertyZaar.com

Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • Average Abu Dhabi office rents forecast to slump 15% in 2017

    Grade A and B office rents in Abu Dhabi are expected to fall by at least 10-15 percent during 2017 in the wake of continued contraction in demand, according to real estate firm Core Savills. Its latest report said that despite lower demand from blue chips and large corporates, the current lack of prime Grade… The post Average Abu Dhabi office rents forecast to slump 15% in 2017 appeared first on P...

  • DED launches Buyer Protection Programme to promote trade with India

    To improve Dubai’s bilateral trade relations with India and protect the interests of traders who import products from Dubai Emirate, the Department of Economic Development, DED, has launched a ‘Buyer Protection Programme.’ Dubai Exports, the depatment’s promotion agency, launched the initiative, designed by the Commercial Compliance and Consumer Protection, CCCP, sector in DED, as a… The post DED ...

  • All new Dubai properties must fit LED lightbulbs by end-2017

    All new properties built in Dubai will have to fit new energy efficient lightbulbs which have been developed by Dubai Municipality in association with Philips Lighting, it has been announced. Dubai Municipality said it has signed a contract with Philips Lighting for the design, manufacture and supply of Dubai Lamp, to be made available in… The post All new Dubai properties must fit LED lightbulbs ...

  • Dubai mortgage deals double in 7 years, but sales ‘velocity’ slows

    Dubai’s real estate market is witnessing year-on-year growth in mortgage activity, which has nearly doubled in the past seven years, according to a new report. However, the surge in home loans has lowered number of sale transactions, which now take double the time compared to cash deals, Reidin-Global Capital Partners said in the latest report.… The post Dubai mortgage deals double in 7 years, but...

  • Prices of Trump-branded projects in Dubai fell 7% in 2016, say consultants

    Prices of properties in Damac’s Akoya development in Dubai, which includes US President Donald Trump-branded luxury villas, have fallen by up to 7 percent in 2016, according to local property consultants. Earlier this month, Damac Properties chairman Hussain Sajwani, who was lavishly praised by Trump at his New Year’s Eve party, said he wanted to… The post Prices of Trump-branded projects in Dubai...

  • Dubai developers ‘unlikely’ to deliver on 2017 handover pledges

    Propertyfinder Group, the UAE-based real estate search portal, expects unit handovers in Dubai this year to be significantly lower than developers’ official projections. The company said that while this may not be welcome news for off-plan investors hoping to soon pick up their keys, a more protracted handover schedule is better for market stability. “As… The post Dubai developers ‘unlikely’ to de...

  • Dubai property prices still nearly 14% below 2014 peak

    Residential property prices are more than 13 percent lower than their peak in 2014, according to a new report by real estate consultancy ValuStrat. Its fourth quarter report showed that the monthly growth rate of residential values in Dubai has been broadly stable for the past 18 months. It said some freehold locations in the… The post Dubai property prices still nearly 14% below 2014 peak appeare...

  • Dubai property brokers earn $410m in commissions in 2016

    Real estate brokers in Dubai made total commissions of AED1.5 billion during 2016 from nearly 33,000 transactions, according to Dubai Land Department (DLD). Tha authority said Dubai has 5,933 active brokers and 2,285 registered brokerage offices, adding that the commission represented two percent of the total value of recorded deals. DLD’s report revealed that UAE… The post Dubai property brokers ...

  • Majid Al Futtaim plans to open Masdar City mall in 2018

    Majid Al Futtaim Group intends to open its new My City Centre Masdar mall in Masdar City by the end of next year. The company, which announced that it was building the mall as part of a proposed Dh30 billion worth of investments in June last year, has said that the new mall will cost… The post Majid Al Futtaim plans to open Masdar City mall in 2018 appeared first on PropertyZaar Official Blog.

  • 14,600 new homes added to Dubai market in 2016, highest since 2012

    A total of 14,600 residential units entered the Dubai real estate market in 2016, the highest level since 2012, according to a new report by JLL. The 2016 Year in Review report said that 31,000 units are scheduled for completion in 2017, with Dubai South gaining prominence, with 550 units slated for completion this year… The post 14,600 new homes added to Dubai market in 2016, highest since 2012 a...

PropertyZaar.com

Category: Content
Type: Blog Article

Generated 5 months ago

New blog articles detected

  • Dubai developer-contractor pours deep for a Guinness record

    Dubai A residential high-rise project in Dubai has been conferred with a Guinness World Record for the “longest continuous pouring of concrete” undertaken at its site earlier this month. The process — involving 20,000 cubic metres of concrete — took up 42 hours at a stretch at the Geepas Tower site in the Arjan cluster… The post Dubai developer-contractor pours deep for a Guinness record appeared ...

  • Dubai’s residential price decline set to slow, says Deloitte

    Dubai property prices will continue to fall for the rest of the year, but the rate of decline will be slow, according to a new report by Deloitte. In an update to its Middle East Real Estate Predictions report published in January, the Big Four accountancy firm said that residential prices continued to drop by… The post Dubai’s residential price decline set to slow, says Deloitte appeared first on...

  • Real estate brokers in Dubai now need to gain approval for property ads

    Dubai property brokers will need approval before issuing advertisements and social media campaigns under new rules. Brokers this week received a circular from the Real Estate Regulatory Agency (Rera) alerting them to the need to apply for permits before issuing “any real estate announcements” – this includes print and radio ads, as well as those… The post Real estate brokers in Dubai now need to g...

  • Tunnelling work for Doha Metro’s first phase complete

    Qatar Rail has completed 111 kilometres of tunnelling work required to deliver the first phase of the Doha Metro project. The organisation overseeing the delivery of the country’s rail transport networks said the ­final breakthrough was made when one of its tunnelling machines, Msheireb, broke through at Terminal One of Hamad International Airport, which is… The post Tunnelling work for Doha Metro...

  • Emaar to build twin-towered hotel and residential project at Dubai’s JBR

    Emaar Properties plans to build its first beachfront hotel project in Dubai – The Address Jumeirah Resort and Spa at Jumeirah Beach Residence (JBR). The company said that the resort will contain a pair of 74-storey towers at the end of Dubai Marina, with 100 metres of beachfront looking out on to Meraas Holding’s Bluewaters… The post Emaar to build twin-towered hotel and residential project at Dub...

  • Aldar to start selling homes at third phase of Yas Acres

    Aldar will on October 4 start selling 260 villas and town houses under the third phase of its Dh6 billion Yas Acres, the Abu Dhabi developer’s flagship golf and waterfront development on Yas Island. The project for the first time will offer two-bedroom town houses, alongside three-bedroom town houses and three- and four-bedroom duplexes. Prices… The post Aldar to start selling homes at third phase...

  • Big Apple polishes up its property act – in pictures

    A continuing boom in the New York office workforce have spurred the maintenance and refurbishment sector for buildings in New York City. Office employment in the Big Apple, which in March topped 1.9 million for the first time, is set for its sixth straight year of growth, said the New York Building Congress (NYBC) in… The post Big Apple polishes up its property act – in pictures appeared first on ...

  • Dubai property set for return to growth next year, says Knight Frank

    Dubai’s residential property market is heading for a “soft landing”, with a flattening of prices expected for the remainder of this year ahead of a likely increase next year, according to Knight Frank. The property consultancy’s latest Inside View report released yesterday says that after “a period of restraint” caused by lower oil prices and… The post Dubai property set for return to growth next ...

  • River deep, price high at super luxury Dubai villa

    This villa may be in Dubai but, for those who have never visited Al Barari – the development just off Sheikh Mohammed Bin Zayed Road – it feels as though you have accidentally traipsed into a lush forest or tropical jungle. Such is the focus on the surrounding greenery that there are more than 2,000… The post River deep, price high at super luxury Dubai villa appeared first on PropertyZaar Officia...

  • Dubai landlord orders tenant via WhatsApp to leave in three weeks as ‘villa to be destroyed’

    I received a notice to vacate from my landlord via WhatsApp, rather than by letter. He said he had to evict because the municipality ordered him to destroy the villa. Should he pay me back some penalties since he is asking me to evict within three weeks? SC, Dubai Law 33 of 2008, which amends… The post Dubai landlord orders tenant via WhatsApp to leave in three weeks as ‘villa to be destroyed’ app...

PropertyZaar.com

Category: Content
Type: Blog Article

Generated 6 months ago

New blog articles detected

  • Activist shareholder succeeds in removing Hill International’s founder from its board

    The US construction consultancy Hill International has acceded to demands from the activist shareholder Bulldog Investors by removing three directors, including the founder Irvin Richter. The company, which earned 48 per cent of its US$631 million in consulting fees from the Middle East last year, stated that it had settled a legal case filed by… The post Activist shareholder succeeds in removing ...

  • Emiratis among leading investors in Europe’s prime ski resorts

    Emiratis were among the top eight buyers of properties in ski resorts last year, according to a new study by consultancy Knight Frank. The company’s annual Ski Property Report, which looks at trends in key global ski resorts, said that the range of nationalities buying in the most popular resorts in France, Switzerland and the… The post Emiratis among leading investors in Europe’s prime ski resort...

  • Gulf Related chief bullish on prospects for Al Maryah Central despite market slowdown

    Michael Fahy Developer Gulf Related is bullish about the prospects for its US$1 billion Al Maryah Central development after announcing that 50 per cent of the retail space within the 2.8 million square feet project has already been let. Ken Himmel, the company’s co-managing partner, yesterday acknowledged that as a result of the recent slowdown… The post Gulf Related chief bullish on prospects for...

  • Al Maryah Central mall in Abu Dhabi now 50 per cent leased by retailers

    The developer behind the US$1 billion Al Maryah Central in Abu Dhabi has said that it has already leased 50 per cent of the space at the development, with 785,000 square feet of commitment secured from major UAE retail groups. However, Gulf Related also stated that the project will not now open until August 2018,… The post Al Maryah Central mall in Abu Dhabi now 50 per cent leased by retailers app...

  • Forum Group to build Palm Jumeirah luxury villas

    A Russian-backed property developer plans to develop luxury villas on Palm Jumeirah. Forum Group wants to build 22 luxury villas on the crescent of the artificial island close to hotels such as the Kempinski and Jumeirah Zabeel Saray. The 500,000 square feet development will be called XXII ­Carat villas situated near the end of the… The post Forum Group to build Palm Jumeirah luxury villas appeare...

  • Dubai’s office high-rises are within reach

    Dubai: Seems like a good time for corporate tenants to rent — or renew their leases — in Dubai’s skyscrapers. With rents unchanged on prime floors during the six months to the second quarter of 2016, Dubai’s office high-rises slipped to the 20th spot in the global rankings of cities with the costliest rentals, according… The post Dubai’s office high-rises are within reach appeared first on Propert...

  • Dubai and Abu Dhabi named Middle East’s most sustainable cities

    Dubai has been named as the region’s most sustainable city, but it still falls in the bottom half of a new global ranking of 100 major cities. Construction consultancy Arcadis has placed Dubai 52nd in its 2016 Sustainable Cities Index, which was compiled by the Centre for Economic and Business Research. Abu Dhabi was the… The post Dubai and Abu Dhabi named Middle East’s most sustainable cities app...

PropertyZaar.com

Category: Content
Type: Blog Article

Generated 6 months ago

New blog articles detected

  • Dubai landlady refused to do maintenance for nine years – should villa be returned in good condition?

    I have lived in the same villa for 11 years and after the second year the landlady refused to do any maintenance. We pay for all essential items including AC compressors, electrics, plumbing etc. We are now leaving so do we have to fill holes and paint the property taking into account she has done… The post Dubai landlady refused to do maintenance for nine years – should villa be returned in good ...

  • In Dubai realty, Dh1m is the new price point to fight for

    Dubai: Properties in the Dh1-1.5 million range will be the new battleground as Dubai’s private developers take on the affordable homes’ initiative from master-developers. It will also mean that developers will have to be quick to acquire plots in emerging locations to ensure they can get their costs right. “The market is starting to see… The post In Dubai realty, Dh1m is the new price point to fig...

  • Middle East ‘wave of capital’ targeting London properties

    Middle East property investors are targeting the UK’s commercial property sector after the Brexit vote, according to investment specialists from CBRE. Ed Bradley, a senior director for investment properties in CBRE’s London capital markets team, said that the decline in prices as a result of the fall in the value of the pound, and the… The post Middle East ‘wave of capital’ targeting London proper...

  • Penalty for delays? Why Dubai’s new home owners are not moving in any time soon

    DUBAI: “But where’s my property?” The many who bought into the great off-plan launches Dubai realty saw from 2012 are starting to ask this question of their developers … and probably not getting much by way of a reply. For them, the long wait continues for their properties to be delivered. It is widely estimated… The post Penalty for delays? Why Dubai’s new home owners are not moving in any time s...

  • Bloom Holding looks to finalise deal on affordable housing project near Abu Dhabi airport

    Bloom Holding is hoping to finalise a deal that will allow it to develop a 2.2 million square metres plot of land near Abu Dhabi airport by the end of the year. The chief executive Sameh Muhtadi said that Bloom expects to be able to put about 13,500 homes on the site, and that 2,000… The post Bloom Holding looks to finalise deal on affordable housing project near Abu Dhabi airport appeared first o...

  • Dh13.5 million Elite Residence penthouse is swimming in luxury

    For regular readers of this column, a penthouse in a tall building in Dubai is going to sound a little passe. But this luxury pad takes up half of the 77th storey of the 92-floor Elite Residence, offering 6,246 square feet of space. There are four bedrooms, all en suite, and the master also comes… The post Dh13.5 million Elite Residence penthouse is swimming in luxury appeared first on PropertyZaa...

  • Dubai residents call for relaxation of mortgage rules

    A sluggish Dubai property market is reviving calls to relax mortgage caps and kick-start a real estate recovery. Big project launches at the annual Cityscape Global exhibition in Dubai this week were not enough to distract attention from a stubbornly subdued property market. The focus naturally turned to what could be done to lift sentiment,… The post Dubai residents call for relaxation of mortgag...

  • Expo 2020 buildings to be ready year early for trial events on site

    The bulk of the buildings proposed for the Expo 2020 site will be ready by the end of 2019 to allow for a number of trial events to take place early in 2020, the project’s organisers said. Enabling works are under way at the site, and a contractor is already in place to deliver the… The post Expo 2020 buildings to be ready year early for trial events on site appeared first on PropertyZaar Official...

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