Latest Real Estate News

Emaar to open 35 new hotels in next five years

Apr 25 ,2016, city : Dubai

Dubai’s Emaar Hospitality Group expects to open 35 hotels and serviced residences within about five years as it expands at home and abroad.

The new hotels will encompass its luxury Address Hotels and Resorts brand and the upscale Vida Hotels and Resorts as well as the midscale Rove Hotels.

They include ... More..

Rent an apartment for just Dh917 a month in UAE... where?

Apr 25 ,2016, city : Dubai

Average cost of renting a studio apartment in Fujairah ranges between Dh11,000 and Dh20,000 per year, which translates to Dh917 and Dh1,667 per month, according to property consultancy Land Sterling.

In its first quarter 2016 report, it said one-bedroom units in the above emirate can be leased between Dh2... More..

Revealed: First Viking villas of Sweden getting ready on Dubai's manmade island

Apr 22 ,2016, city : Dubai

The first beachfront villas on the Sweden Island in The Heart of Europe (THOE) on the World islands in Dubai is getting ready.

In a statement emailed to Emirates 24|7, Kleindienst, the developer of project, said the first show villa was close to completion with work having reached roof level.  

“Once... More..

UAE's Manazel launches first overseas real estate project

Apr 22 ,2016, city : Dubai

UAE-based developer Manazel Real Estate has launched a mixed-used development, Manazel Amman, located close to Queen Alia International Airport.

Manazel Amman is the company's first development outside of the UAE, it said in a statement, adding that it is part of its strategy to provide quality homes for the middle-inco... More..

Dubai skyscraper office rents stay flat in H2 2015

Apr 21 ,2016, city : Dubai

Dubai skyscrapers are more affordable than those in other cities such as London, New York, Hong Kong and Tokyo, according to new research.

Knight Frank’s latest Skyscraper Index shows that rents in skyscrapers in Dubai remained unchanged at $43.5 per square foot (/sq ft) in the second half of 2015, while rents for equ... More..

New marvel in UAE: A residential project built on a carpet

Apr 21 ,2016, city : Dubai

Intricately woven towers, with the podium resembling a handcrafted carpet, will be a reality in the UAE.

Al Qudra Real Estate, the real estate arm of Al Qudra Holding, is planning to launch a five tower residential project in Al Reem Island, Abu Dhabi.

The Al Sadu Towers will be a high-end luxury towers, offeri... More..

Rents in Dubai skyscrapers cheaper than London, Mumbai

Apr 21 ,2016, city : Dubai

Rents in Dubai’s skyscrapers are almost six and three times cheaper than Hong Kong and London, according to Knight Frank’s Skyscraper Index.

The report, which examines the rental performance of commercial buildings over 30 storeys across the world, shows that rents in skyscrapers in the emirate stand at $43.50... More..

Incredible: How much some Dubai property brokers earn

Apr 20 ,2016, city : Dubai

The average salary of experienced professionals in the region’s real estate sector has now surged to almost Dh725,000 a year, according to a latest survey.

The data reveals that respondents in the property sector with more than 21 years’ experience continue to earn the highest average base monthly salary at Dh60... More..

Arcapita acquires logistics parks in Dubai for Dh367 million

Apr 18 ,2016, city : Dubai

Investment management firm Arcapita has acquired a logistics park in Dubai for a total transaction value of approximately $100 million (Dh367 million).

The investment comprises nine freehold plots of land in the Al Quoz Industrial Area covering an area of approximately 630,000 square feet. The logistics park is strategicall... More..

Emaar approves 2015 dividend despite shareholder call for hike

Apr 18 ,2016, city : Dubai

Shareholders of Dubai's Emaar Properties have approved the proposed cash dividend for 2015 at its annual general meeting despite a call from some to hike the payout.

The developer, in which Dubai's government owns a minority stake, had proposed paying a cash dividend of 15 percent, equivalent to 0.15 dirhams ($0.04)... More..

Dubai property prices, rents to face downward pressure in 2016-17

Apr 18 ,2016, city : Dubai

Sales prices and rental rates in Dubai are expected to come under pressure over the coming 12 to 18 months as substantial supply is planned to be handed over, according to consultancy Asteco.

It said in a new report that subdued rents could affect rental rates in the Northern Emirates as any prolonged declines in Dubai, par... More..

Fines hit Dubai investors that fail on property registrations

Apr 17 ,2016, city : Dubai

Investors that have not registered completions of new units with the Dubai Land Department (DLD) face being fined AED10,000 ($2,272), it has been said.

A notice to investors from the DLD, reportedly seen by Emirates247, states that real estate developers that have not registered transactions with the department face being f... More..

Luxury real estate firm acquires UAE brokerage, doubles staff

Apr 16 ,2016, city : Dubai

Gulf Sotheby's International Realty has acquired UAE property brokerage Ere Homes in a deal that will see the luxury real estate firm strengthen its resale and leasing divisions, as well as add property management to its offering.

This move will also double Gulf Sotheby's International Realty's staff base and gr... More..

Oil firms downsize in Abu Dhabi, fuelling office market imbalance

Apr 16 ,2016, city : Dubai

Oil and gas companies are downsizing their operations in Abu Dhabi, which is fuelling a supply-demand imbalance in the commercial real estate market, according to Cluttons.

Its Abu Dhabi Spring 2016 Property Market Outlook report also showed that after a year of stability in office rents across Abu Dhabi, they have now begu... More..

Aldar sees 'strong response' to new $1.36bn Yas Acres project

Apr 16 ,2016, city : Dubai

Aldar's new $1.36 billion flagship development, Yas Acres, has received strong response at Cityscape 2016, the Abu Dhabi-based developer has said.

Yas Acres will consist of 1,315 villas of between two and six bedrooms, with the company saying residents will have access to a golf course and club house, parks, schools and... More..

UAE developer launches phase 4 of Bloom Gardens project

Apr 15 ,2016, city : Dubai

Bloom Properties has unveiled FAYA, the fourth phase of its master planned community Bloom Gardens in Abu Dhabi.

The developer said in a statement that FAYA will feature a total of 132 townhomes made up of 28 four-unit clusters and four five-unit clusters.

Bloom added that FAYA is scheduled for completion in ... More..

Emaar to partner on $420m Turkish theme park project – report

Apr 14 ,2016, city : Dubai

Emaar Group is set to partner with Rixos on a $420 million (TL1.2bn) Turkish theme park project, according to reports in local media.

Rixos Hotels is currently developing ‘The Land of Legends’ theme park in Belek, Antalya, the first stage of which is due to open in May.

According to reports in Turki... More..

Dubizzle sees property price hike in inland Dubai, Abu Dhabi

Apr 13 ,2016, city : Abu Dhabi

Sales and rental prices in upcoming, inland neighbourhoods across Dubai and Abu Dhabi are rising while prime areas decline, according to new research.

The Q1 2016 property report by classifieds website Dubizzle.com reveals an increase of up to 13 percent in sales and rental prices in emerging communities such as Al Ghadeer,... More..

Abu Dhabi office demand weakens in era of cheap oil

Apr 13 ,2016, city : Abu Dhabi

Demand for office space in Abu Dhabi has reduced due to the decline in oil prices directly impacting the oil related sector and indirectly impacting other sectors due to a slowdown in government spending, according to a new report.

JLL said in its latest Abu Dhabi Real Estate Overview report that large-scale requirements co... More..

Revealed: MidEast real estate execs earn average of $12,086 per month

Apr 13 ,2016, city : Dubai

The average monthly salary for the Middle East real estate sector is AED44,392 ($12,086), with annual bonuses averaging AED84,498, according to a new survey by recruitment firm Macdonald & Company.

The average salary for 2015, which was slightly down on the AED44,559 per month figure for 2014, was revealed as part of th... More..

Abu Dhabi to have affordable housing for low income earners

Apr 13 ,2016, city : Abu Dhabi

A major overhaul in housing development is being finalised in Abu Dhabi, with the emirate planning to introduce a new policy that will make building affordable houses mandatory in all new master developments, Emirates 24/7 can reveal.

“The affordable housing policy is in the finalisation stage and is expected to be ... More..

Affordable housing remains lacklustre at Cityscape

Apr 13 ,2016, city : Abu Dhabi

Abu Dhabi: As local real estate developers launched new residential projects at Cityscape Abu Dhabi featuring high-end villas and town houses, affordable housing remained the elephant in the room, with limited supply in that market.

There is, however, growing demand for affordable housing both from individual investors and ... More..

Abu Dhabi introduces 3% municipal fee on expat home rentals

Apr 12 ,2016, city : Abu Dhabi

Expatriate tenants in Abu Dhabi will have to pay 3 per cent extra on their rent, as a municipality contract fee.

The new charge will be collected with monthly electricity and water bills, and will add about Dh5,000 to the cost of renting an average two-bedroom apartment. UAE nationals are exempt.

The decision... More..

Abu Dhabi’s urban planners working on ways to restart stalled Reem Island projects

Apr 12 ,2016, city : Abu Dhabi

Abu Dhabi’s Urban Planning Council is working on a plan to restart stalled property developments on Reem Island.

According to UPC officials, the planning body is looking at ways to encourage property developers to restart construction work on a handful of unfinished towers on the island that were hit by the global fin... More..

Bloom Holding to launch affordable housing project near Abu Dhabi airport

Apr 12 ,2016, city : Abu Dhabi

Bloom Holding plans to launch a huge affordable project of 5,000 homes close to Abu Dhabi International Airport.

The company has a 2.2 million square feet plot close to the airport, which it plans to develop into flats, villas and town houses, with the blocks of flats making up to 5,000 homes.

“Affordab... More..

Masdar master plans for super-green community given Abu Dhabi approval

Apr 12 ,2016, city : Abu Dhabi

Masdar has won planning consent to build thousands of apartments and villas at its super-green Masdar City community in Abu Dhabi.

The government-owned eco-developer said that it had been granted planning consent by the Abu Dhabi Urban Planning Council to build two new phases of its vast master plan close to Abu Dhabi Inter... More..

Dubai rent issues: 'Smart Judge' to give verdict within seconds

Apr 12 ,2016, city : Dubai

The verdict if you file a case for rent dispute, or to know if your landlord is allowed to hike rent in Dubai, will be given in mere seconds.

The “Smart Judge” is a new application launched by Dubai Land Department, which gives various scenarios with the user having to select the right options to get a virtual v... More..

Investors should pay only 30% service charge in Dubai: Rera Chief

Apr 12 ,2016, city : Dubai

The chief of Dubai’s Real Estate Regulatory Agency (Rera) wants developer to cut down on service charges by allocating some portion of the built-up area in their projects to generate revenue.

“My advice to developer is to allocate some of the built-up area for revenue generation. Start with 50 per cent of the se... More..

Dubai Parks and Resorts secures Dh993m loan for Six Flags theme park

Apr 11 ,2016, city : Dubai

Abu Dhabi: Dubai Parks and Resorts said on Monday it has secured Dh993 million of debt financing to fund part of the proposed Six Flags branded theme park that is expected to open in the fourth quarter of 2019, comprising 27 rides and attractions.

The company said in a statement that it is seeking to raise Dh2.67 billion pr... More..

Dubai real estate deals total $14.9bn in Q1 2016

Apr 11 ,2016, city : Dubai

Dubai recorded AED54,782 billion ($14.9 billion) of real estate transactions in the first quarter of 2016, it was reported on Sunday.

In its quarterly update, the Dubai Land Department (DLD) said that the $14.9 billion of transactions included 8,440 sales and 3,213 mortgage transactions, as well as 915 “other” t... More..

Aldar launches $1.63bn villa project in Yas Island

Apr 11 ,2016, city : Dubai

Abu Dhabi's Aldar Properties said on Monday it will add new villas to its Yas Island development with a project valued at 6 billion dirhams ($1.63 billion).

Yas Acres will consist of 1,315 villas, with the company saying residents will have access to a golf course and club house, parks, schools and a waterfront.

Dubai's Emaar Properties group CEO exits role

Apr 10 ,2016, city : Dubai

Dubai's Emaar Properties, builder of the world's tallest tower, said on Sunday that Abdulla Lahej had discontinued his role as group chief executive officer.

Lahej's responsibilities were being handled by Amit Jain, group chief operating officer, Emaar said in the statement, without elaborating further.... More..

Chestertons closes $166m property deals for MidEast buyers in 2015

Apr 8 ,2016, city : Dubai

Chestertons, the international property agency with its regional hub in Dubai, has announced that it closed property sales worth over AED610 million ($166 million) on behalf of its Middle East investors in 2015.

The company said in a statement that London was the most attractive market for Chestertons’ MENA investors,... More..

First underwater ‘Floating Seahorse’ villa built in Dubai

Apr 8 ,2016, city : Dubai

DUBAI // The first partially underwater villa, “The Floating Seahorse", is now in position 4km off the coast of Dubai in The World islands project.

Pictures emerged on social media of the first of the 42 villas in a cluster of islands known as the Heart of Europe.

The villas, described as “th... More..

Investors get refund from cancelled projects in Dubai; many revived

Apr 6 ,2016, city : Dubai

Dubai Courts has issued the latest list of cancelled projects in the emirate, which reveals five projects have been liquidated so far with proceeds being distributed among investors.

Published on March 16, 2016, the following project names have been listed under the category “Cancelled projects which have be... More..