Latest Real Estate News

Why now is the right time to buy property in Dubai

Aug 30 ,2016, city : Dubai

Dubai Real Estate has always been a hot market for investors from all over the world due to strong capital appreciation and higher rental yield.

When we compare transactional activity with real estate prices for the last 5 years, we have observed that there is a strong relation between residential transaction volumes and ... More..

Scam Alert: UAE warns residents against fraud property ads

Aug 30 ,2016, city : Dubai

The UAE Ministry of Interior has alerted residents and citizens of scam operations through fake companies promoting the sale of real estate abroad through advertisements in the media, according to a report in Arabic daily Emarat Al Youm.

The Ministry called on people to exercise caution when making an investment in order ... More..

Vincitore says debut Dubai real estate project 90% sold out

Aug 27 ,2016, city : Dubai

Vincitore Real Estate Development has announced that its first property project in Dubai has attracted strong investor demand with 90 percent of phase one sold out.

The AED135 million ($36.7 million) Vincitore Palacio project was launched earlier this year with starting prices of AED 475,000.

The residentia... More..

UAE's Azizi launches $204m Palm hotel apartments project

Aug 27 ,2016, city : Dubai

UAE-based Azizi Developments has announced the launch of its 178-unit Azizi Mina Hotel Apartments project located on The Palm Jumeirah, Dubai.

According to the developers, the property is now the company's flagship project in Dubai and will run to an approximate total value of AED750 million ($204.1 million).

Omniyat says luxury $544m Palm project set for 2018 completion

Aug 26 ,2016, city : Dubai

Omniyat, the Dubai-based luxury real estate developer, has announced that construction of a AED2 billion ($544 million) residential project on Dubai's Palm Jumeirah is progressing well with completion scheduled for 2018.

In a new construction update, Omniyat said that its flagship One Palm project, based on the left trunk... More..

Dubai Sports City set to handover new luxury villa community

Aug 26 ,2016, city : Dubai

Dubai Sports City has announced that luxury villa complex Fortuna village is now ready to be handed over to their new owners.

Fortuna Village will see 30 new 4-bedroom plus maid’s room villas added to the golfing community, which navigates around the 18-hole Els Club Championship golf course.

With an array of s... More..

Gulf Sotheby’s concludes $6.9m sale on fire-damaged Address Downtown apartment

Aug 26 ,2016, city : Dubai

Gulf Sotheby’s International Realty has concluded the sale of one of the fire-damaged penthouse apartments at The Address Downtown Dubai.

With an internal built-up area of 3,181 square feet, the penthouse’s selling price of AED 25.25m ($6.9m) equates to AED 7,937 ($2,160) per square foot, Gulf Sotheby said i... More..

UAE's Azizi says $95m Royal Bay project is 85% sold

Aug 25 ,2016, city : Dubai

UAE-based Azizi Developments has announced that 85 percent of its AED350 million ($95.2 million) Royal Bay Residence project in Dubai has been sold.

The project is scheduled to be completed by second quarter of 2017, the company said in a statement.

Farhad Azizi, CEO of Azizi Developments, said: “Duba... More..

Damac inks $263m construction deal for London residential scheme

Aug 24 ,2016, city : Dubai

Dubai’s Damac Properties has signed a £200 million ($263 million) deal with Australian contractor Lendlease to build its new AYKON tower in London.

The real estate developer was expected to announce on Tuesday that Lendlease would construct what will be Damac’s first development in the UK and one of Lond... More..

Dubai building project handovers delayed as 2012 fire safety rules enforced

Aug 24 ,2016, city : Dubai

Hundreds of Dubai projects have seen handover delays as authorities clamp down on fire safety rules, it has been reported.

New building codes that demand cladding panels with higher ratings are being sent to consultants and manufacturers of aluminium composite panels (ACPs).

But before the introduction of n... More..

Dubai house prices set to see 'imminent' rise

Aug 23 ,2016, city : Dubai

A rise in Dubai house prices as a result of improving economic conditions is “imminent”, it has been reported.

Recent trends in equity and oil markets and the limited supply of new completed units suggest an increase in Dubai property prices soon, according to a Reidin/Global Capital Partners report, titled ... More..

'We are now a debt-free company', says Nakheel chairman

Aug 23 ,2016, city : Dubai

State-owned property developer Nakheel, which was at the centre of Dubai's debt crisis in 2009, has finished recovering from a $16 billion debt restructuring by repaying an Islamic bond this month, its chairman said on Monday.

Ali Rashid Lootah told a small group of reporters that Nakheel had transferred funds for rep... More..

Emirates REIT says H1 rental income rising to $20.9m

Aug 22 ,2016, city : Dubai

Emirates REIT, the first Shari'a compliant real estate investment trust listed on NASDAQ Dubai, has announced that rental income across its properties rose by more than 28 percent in the first half of 2016.

Rental income grew to $20.9 million, an increase of 28.3 percent compared to the same period in the previous yea... More..

Gemstone picks Kempinski to run new Dubai residences project

Aug 20 ,2016, city : Dubai

Dubai-based developer Gemstone has announced the signing of a partnership with Kempinski Residences to manage and operate its new Kempinski Residences Business Bay project.

Gemstone Real Estate Development, the property development arm of Saudi Arabia's Al Rajhi Holding Group, said the project is exp... More..

Average annual Dubai studio rents fall by 6% to $15.5k

Aug 20 ,2016, city : Dubai

The average annual rent for studio apartments in Dubai fell by six percent in July at AED57,000 ($15,518) compared to the start of the year, according to the latest data from real estate website Bayut.

Its report also said average studio rents in neighbouring Abu Dhabi dropped 5 percent to AED56,000 in July.

Ba... More..

Prime Qatar property rents slump by up to 15% in past year

Aug 20 ,2016, city : Abu Dhabi

Prime residential apartment rents in Qatar have fallen by between 5-10 percent over the past year, according to a new report by DTZ.

Rents for mid-range units did not drop as much but DTZ said it is anticipated that they may soften further in the third quarter as new supply comes to the market in areas such as Bin Mahmoud... More..

TDIC says Saadiyat project set for H2 2018 completion

Aug 19 ,2016, city : Abu Dhabi

Abu Dhabi's Tourism Development and Investment Company (TDIC) has announced that the construction of Mamsha Al Saadiyat, the first residential development within the Saadiyat Cultural District, is on track to be delivered in the second half of 2018.

The project, which was awarded in April to a joint venture between Sa... More..

Demand for Dubai office space slumps amid H1 slowdown

Aug 19 ,2016, city : Dubai

Demand for office space in Dubai has receded in the past six months, as the ripple effect of the oil price collapse and the subsequent economic slowdown in the rest of the Gulf reverberates across the city’s commercial property market, according to Cluttons.

Its bi-annual Dubai Office Market Bullet... More..

Rent 1-bed unit in world's tallest residential tower in Dubai @ Dh299

Aug 19 ,2016, city : Dubai

A Dubai-based real estate brokerage firm is offering a one-bedroom apartment in Princess Tower, the world’s tallest residential tower, for rent at Dh299 a day.

According to the firm's listing on a local classified website, the apartment is on 16th floor and has one bathrooms, a guest restroom, lounge, and a full... More..

Emaar denies reports over $1bn megaproject in Turkish city

Aug 17 ,2016, city : Dubai

Emaar has said it is “currently not building” any projects in the Turkish city of Trabzon, contrary to reports that the Dubai developer is masterminding a $1 billion mixed-used megaproject in the Black Sea resort town.

Arabic media have quoted a Turkish official as saying that Emaar’s i... More..

No rent discount, but Dubai landlords offer rent-free periods

Aug 17 ,2016, city : Dubai

Landlords of office space in Dubai are not willing to lower rents beyond a certain limit but are willing to offer rent-free periods to fit out contributions to attract tenants, Cluttons, a real estate consultancy, said.

"The general lack of rental growth is unlike... More..

Top 10 Dubai villa deals: Dh44 million in Emirates Hills at No 1

Aug 16 ,2016, city : Dubai

A villa sold for Dh44 million in Emirates Hills, one of Dubai’s most affluent communities, topping the list of the 10 biggest villa deals completed in the second quarter of 2016.

Data shared exclusively by Reidin.com with Emirates 24|7 reveals that the buyer paid Dh1,997 per square foot for the pro... More..

Emaar launches new residences and villa townhouses in Dubai Creek Harbour

Aug 16 ,2016, city : Dubai

Emaar Properties is set to launch sales for new residences and villa townhouses in Dubai Creek Harbour.

‘Creek Horizon’ homes, located near to The Tower and in the heart of The Island District, include 1-, 2-, and 3-bedroom residences, and 4-bedroom penthouses in two residential towers, 35 and 41 floors high, ... More..

Revealed: the cost of accommodating an employee in Dubai

Aug 12 ,2016, city : Dubai

Dubai has been ranked eighth in a list of the world's most expensive cities in which to accommodate staff, according to the the Savills Live-Work Index.

The list which compares total housing and office rental costs on a per capita basis around the world showed that costs in Dubai were less than half that in New York whi... More..

Affordable Dubai property prices rise by up to 3.9% in July

Aug 12 ,2016, city : Dubai

Dubai's residential property market witnessed mixed price performance during July depending on location and quality, according to the latest report by ValuStrat.

The July ValuStrat Price Index (VPI) showed monthly uplifts of between 1.1-3.9 percent in mid-affordable apartment locations, compressing net yields by an aver... More..

Average Dubai property prices slump 2% in past 3 months

Aug 11 ,2016, city : Dubai

Average residential rental and sales rates continued to decline across Dubai during the second quarter of 2016, but performances are highly fragmented by location, according to CBRE.

Its Q2 2016 Dubai MarketView said the devaluation of major currencies against the US dollar, spurred by global economic uncertainty, has impac... More..

Dubai's world's tallest 'The Tower' neighbourhood gets new hi-rise

Aug 11 ,2016, city : Dubai

In less than a week’s time after launching ACT One and ACT Two in Opera District, Emaar Properties, Dubai’s largest developer, is set to launch a new twin-tower project in Dubai Creek Harbour, a master development larger than Downtown Dubai.

“Creek Horizon, the 40-plus storey towers, are in the Islan... More..

Dubai housing rents to become cheaper… 48,000 new units coming up

Aug 11 ,2016, city : Dubai

Average residential rents in Dubai dipped one per cent in the second quarter 2016 compared with first quarter, CBRE said on Wednesday, expecting “rental declines to continue in coming quarters.”

“Although there are some signs of stability within specific sub-markets, we can still expect to see furthe... More..

Dubai property prices show signs of bottoming out in Q2

Aug 10 ,2016, city : Dubai

Dubai's property sales market is starting to bottom out with no overall price decreases seen in the second quarter of 2016, according to UAE-based classified ads website dubizzle.

Its Q2 2016 property report said that tenants and buyers continue to have bargaining power as the Dubai residential prope... More..

Dubai's costliest deal: Burj Khalifa Armani unit @ Dh7,181 psf

Aug 10 ,2016, city : Dubai

Armani Residences Burj Khalifa in Downtown Dubai has topped the list of costliest apartment deals in Dubai per square foot, for the second quarter 2016, according to Reidin.com data shared with Emirates 24|7.

The Dh15.60 million deal was registered with the Dubai Land Department (DLD) in May 2016 with th... More..

Dubai tycoon Al Habtoor sees property price rebound soon

Aug 9 ,2016, city : Dubai

Dubai tycoon Khalaf Ahmad Al Habtoor has predicted a rise in property prices in the emirate "in the coming months" due to heightened demand.

In a statement, the chairman of the Al Habtoor Group reaffirmed that Dubai is a "safe haven for investors", but urged the UAE government to &quo... More..

Back to Dubai: Why reverse migration from Sharjah, Ajman, RAK

Aug 8 ,2016, city : Dubai

A growing focus of developers in the affordable segment coupled with government laws will lower movement of Dubai residents to neighbouring emirates, says a new report.

“We can witness from 2005 to 2009, the percentage of people living outside increased dramatically as rents close to tripled.

&ldquo... More..

Russian investors seen returning to Dubai real estate market

Aug 6 ,2016, city : Dubai

Russian investors are returning to the Dubai real estate market after staying away due to a record fall in the value of the rouble last year, it has been claimed.

Statistics published by Dubai real estate portal PropertyTrader.ae for the first half of 2016 have revealed a significant rise in overseas enq... More..

Timeshare's Dh14 billion boost to Dubai's economy by 2020

Aug 5 ,2016, city : Dubai

Global timeshare industry is awaiting the release of the Timeshare Law in Dubai, which will propel the industry on a growth path, according to an industry player.

“We are hoping that the Timeshare Law in Dubai will be released as early as end of the year. We, along with the timeshare industry, have been eagerly ... More..

Qatar's $1.3bn Chelsea Barracks scheme 'on hold again post-Brexit' - report

Aug 2 ,2016, city : Dubai

The property arm of Qatar’s sovereign wealth fund has reportedly delayed the final phase of its $3.9 billion Chelsea Barracks scheme in London pending revisions to the residential offer.

Qatari Diar, which bought Chelsea Barracks for almost £1 billion ($1.3 billion) in 2007, is understood to have put the sixth... More..

Emaar Properties Q2 net profit up 8%

Aug 1 ,2016, city : Dubai

Dubai's Emaar Properties , builder of the world's tallest tower, reported an 8 percent rise in second-quarter net profit on Sunday as revenue advanced.

The developer, in which Dubai's government owns a minority stake, made a net profit of 1.27 billion dirhams ($345.8 million) in the three months to June 30, it s... More..

Alabbar poised to create the Alibaba of the Middle East

Aug 1 ,2016, city : Dubai

There is a story that Mohamed Alabbar likes to tell, about a conversation with his nine-year-old nephew Jumma. He asks him what the three most important things are in the world that he cannot live without. His nephew replies: “Air, water and wi-fi.”

When Alabbar asks him why he didn’t mention food, Jumma... More..

Downtown Dubai set for 'final' ACT One

Aug 1 ,2016, city : Dubai

Emaar Properties will soon launch 'ACT One', a new residential project, in the Opera District in Downtown Dubai, company-registered brokers told Emirates 24|7.

“The launch of the first tower of the two-tower project will take place soon and is expected to be delivered by November 2020,” the agents said... More..