Latest Real Estate News

Dubai property sales prices down 8% since June 2014 – report

Jul 29 ,2015, city : Dubai

Dubai’s real estate market has continued to slide with prices down 8 per cent on average since June 2014, the Q2 report from consultancy JLL has found.

Apartment sale prices dropped 9 per cent year-on-year in Q2 and were down 1 per cent quarter-on-quarter. Meanwhile villa prices fell 2 per cent on a quarter-on-quarter... More..

Abu Dhabi rental growth at slowest pace for two years

Jul 29 ,2015, city : Abu Dhabi

Rents in Abu Dhabi increased at the slowest pace in more than two years during the second quarter amid concerns over the long-term impact of lower oil prices.

CBRE’s Abu Dhabi Marketview reported a quarterly increase in rents of just 1 per cent, although on a year-on-year basis rents have climbed by 10 per cent in the... More..

Dubai property transactions tumble 69 per cent

Jul 29 ,2015, city : Dubai

The number of completed property deals in Dubai has tumbled by more than two-thirds, according to JLL.

In its Dubai Q2 Market Report, the firm’s Mena head of research Craig Plumb said Dubai Land Department figures show a 69 per cent drop in residential transactions during the first half of the year, with 7,400 deals c... More..

Can new Dubai property owner bump up tenant’s rent or evict?

Jul 29 ,2015, city : Dubai

We are purchasing a Dubai property which is tenanted until next month. So far no vacating letter has been sent to the tenant. So upon completing the transfer, the seller has issued a vacating notice via the courts – this means the tenant will have to vacate after 12 months. The tenant is paying Dh115,000 – well below the marke... More..

Union Properties starts work on Green Community phase three in Dubai

Jul 29 ,2015, city : Dubai

Union Properties has begun construction on the third phase of its Green Community project in Dubai Investments Park.

Contractor Shapoorji Pallonji Mideast has begun laying foundations at the site, which spreads over 138,000 square metres. It will contain 226 properties - 210 villas and 16 duplex apartments - and some retail... More..

Dubai property broker S&K Estate Agents files for bankruptcy, jobs lost

Jul 28 ,2015, city : Dubai

Dubai-based property agency S&K Estate Agents, which traded as Smith & Ken, has confirmed that it has filed for bankruptcy.

In a statement, the company said that all 80 staff within the company in both its Dubai and LA offices have lost their jobs and that a liquidator has been appointed to handle the firm’s a... More..

Abu Dhabi property market reaches ‘tipping point’

Jul 27 ,2015, city : Abu Dhabi

Abu Dhabi’s property market is at a “tipping point” because of an increase in the cost of living and a reduction in demand.

According to JLL’s Abu Dhabi Real Estate Market Overview for the second quarter of the year, demand growth in the capital is weakening, with rentals and sales flat during the pe... More..

Depa boosted by Dubai Opera House and Madinat Jumeirah wins

Jul 27 ,2015, city : Dubai

The Dubai-based fit-out contractor Depa signed new deals worth Dh719 million during the first half of this year – Dh444m of which were agreed to in the second quarter.

The company yesterday said that the new work included contracts to fit out public areas at the new Dubai Opera House by Emaar Properties in the Downtow... More..

Dubai property market receives 6,750 new homes

Jul 27 ,2015, city : Dubai

About 6,750 new residential units were added to Dubai’s property market over the past three months, bringing the total stock to 479,000 properties, according to a new report.

The ADIB / MPM Properties report states that most of the new units were delivered along the Sheikh Mohammed Bin Zayed Road corridor, with new ho... More..

Dubai’s Drake & Scull wins Kuwait contract worth Dh218m

Jul 27 ,2015, city : Dubai

Dubai-based contracting company Drake & Scull has been awarded a Dh218m contract to deliver a package of works for a “major education institution” in Kuwait.

The company will carry out mechanical, electrical and plumbing (MEP) works at the project, which is due to complete in 2018. This will include construc... More..

Dubai police investigate vandalism at property firm following closure

Jul 27 ,2015, city : Dubai

DUBAI // A leading estate agent and property management company in Dubai has gone out of business with the loss of dozens of jobs.

S&K Estate Agents, which was also known as Smith & Ken, ceased trading last Tuesday without warning to most of its 70 employees.

The glass door to the company’s offi... More..

LuLu Group acquires Great Scotland Yard for £110m as UAE company moves into hotel development

Jul 26 ,2015, city : Dubai

The hypermarkets operator Lulu Group International has paid £110 million (Dh626.6m) for Great Scotland Yard in London as the company expands into hotel development.

It plans to turn the former headquarters of the Metropolitan Police (between 1829 and 1890) into a luxury hotel.

The deal includes an adjoi... More..

UAE a leader in green building, says US trade body

Jul 26 ,2015, city : Dubai

The UAE has been named as one of the top 10 markets for green building space by the US Green Building Council (USGBC).

The USGBC, a not-for profit organisation, oversees the Leed (Leadership in Energy and Environmental Design) green building rating system.

It says that the UAE has the eighth-largest stock of ... More..

Dubai’s Emaar says committed to India, still part of MGF joint venture

Jul 25 ,2015, city : Dubai

Dubai’s Emaar Properties said on Thursday it was committed to its projects in India through its joint venture Emaar MGF Land, and that India was a key market for Emaar.

Its statement followed a report in India’s Economic Times which quoted unnamed sources as saying Emaar was close to ending its decade-old joint ... More..

Off-plan developers in the UAE launch more ‘buy now, pay later’ offers

Jul 23 ,2015, city : Dubai

Property developers are slashing deposits and offering deferred-payment plans to attract buyers amid fierce competition for investors as demand weakens.

The decline in property prices is encouraging developers to offer payment plans that require smaller upfront sums, with the bulk then being hand... More..

Sharjah rents fall as residents eye return to Dubai

Jul 22 ,2015, city : Sharjah

The increased availability of affordable housing in Dubai is reversing a recent trend of people moving to Sharjah and Ajman for cheaper rents.

According to Asteco’s second-quarter report for the Northern Emirates, rents in Sharjah and Ajman fell 3 per cent from the previous quarter as vacancy levels rose because of ne... More..

Dubai eviction notice posted on tenant’s door – is it valid?

Jul 22 ,2015, city : Dubai

I have a query on the 12-month notary notice that needs to be issued for the tenant to vacate. I issued such a notice and Dubai courts used a courier company to deliver the notice to the tenant. They have sent me the report and it indicates that since the tenant was unavailable, the notice was left at the door. Is there anything more that... More..

New Aldar Properties accounting method allows off-plan sales to appear earlier in results

Jul 21 ,2015, city : Dubai

Aldar Properties says it is adopting a new accounting system that will allow it to book revenues from the sales of off-plan developments at an earlier stage.

It has adopted IFRS 15, the newest set of reporting standards introduced by the International Accounting Standards Board (IASB).

IFRS 15 allows develope... More..

Emaar in talks over separation from Indian partner, says report

Jul 21 ,2015, city : Dubai

Emaar Properties is in talks with its Indian partner MGF Development about winding down its 10-year-old joint venture in the country.

India’s Economic Times reported that both sides were thrashing out a deal to separate assets owned by the joint venture, which was set up in February 2005 with an investment of about US... More..

Dubai’s Damac plans more London projects to follow launch of Versace-themed development

Jul 20 ,2015, city : Dubai

Damac Properties says its international arm, in which it holds a 20 per cent stake, is planning “more than one” project in London, where the Dubai-listed firm yesterday launched its first development outside the Middle East.

Hussain Sajwani, Damac’s founder and chairman, said he was meeting planning offici... More..

Barr Al Jissah, one of Oman’s first integrated tourism complexes is top of the range

Jul 16 ,2015, city : Dubai

Muscat may not be the first place that comes to mind when you think of luxury living, but the people at Barr Al Jissah are doing their best to change that.

Located on the outskirts of the city in a concealed cove surrounded by craggy clifftops, Barr Al Jissah was one of Oman’s first integrated tourism complexes (ITC),... More..

Dubai property market expected to bounce back with supply forecast ‘exaggerated’

Jul 16 ,2015, city : Dubai

Dubai’s property market is likely to bounce back from a slowdown in the first half of this year, thanks to the increasing size of the market and the emirate’s significance as a business and leisure hub.

The real estate website Bayut said in its 2015 first half UAE market report that &... More..

Residential lifestyle in Dubai that dreams and Dh18m are made of

Jul 16 ,2015, city : Dubai

Waterfront living on Palm Jumeirah with views of the Dubai Marina skyline and the Burj Al Arab are always a draw for property investors in Dubai.

That is why the Dream Palm Residence has all the classic selling points with a price to match. To afford an unfurnished, five-bedroom town house here, you will need to shell out D... More..

Dubai’s high-end residences see rents drop by 6-7% in Q2 2015

Jul 15 ,2015, city : Dubai

High-end residential locations in Dubai such as Palm Jumeirah and Jumeirah Beach Residences have seen rents drop between 6 to 7 per cent quarter-on-quarter in Q2 2015, a new report shows.

According to the latest report by Asteco, apartment rents saw the biggest quarter-on-quarter decline in Sheikh Zayed Road and Jumeirah ... More..

UAE’s Aldar makes Dhs 1.9bn in H1 2015 on new project sales

Jul 15 ,2015, city : Abu Dhabi

Aldar Properties, Abu Dhabi’s largest listed developer, said on Tuesday it had generated sales worth Dhs 1.9bn ($517.3m) in the first half of the year across three new developments.

The sales constituted land plots on Nareel Island and its Al Merief developments, as well as unit sales at Meera at Shams Abu Dhabi, it... More..

Abu Dhabi landlord caught between warring couple, and their tenancy is up for renewal

Jul 15 ,2015, city : Abu Dhabi

I am the landlord of an Abu Dhabi villa and the annual contract with my tenant – who has lived there for the past three years – has expired. I had given them notice for renewal, but the tenant sent me an email saying he wanted to leave. Then I found out that only the wife ... More..

RAK Properties’ profit slumps as sales slide

Jul 15 ,2015, city : Abu Dhabi

RAK Properties, the developer backed by the Ras Al Khaimah government, yesterday posted a 56 per cent drop in profits for the first half of the year on the back of lower sales.

The company reported a profit of Dh22.7 million, compared with Dh51.6m for the same period last year. Revenues also declined by 38 per cent to Dh9... More..

Abu Dhabi rents up 6%, prices rise 4% quarter-on-quarter in Q2

Jul 14 ,2015, city : Abu Dhabi

Apartment rents in Abu Dhabi increased by an average of 6 per cent in the second quarter of the year, compared to Q1, according to the latest market report by Asteco.

The majority of prime, high and mid-quality developments increased by 4 – 6 per cent upon contract renewal while new leases were, on average, 8 per cent... More..

Cheapest places to rent in Dubai today

Jul 13 ,2015, city : Dubai

Dubai:  Rents have been falling recently, or so a number of real estate agencies say, yet your landlord has just told you that he’s going to increase your rent upon renewal next month. Of course, moving out is the ne... More..

Rental rates up 6% in Abu Dhabi

Jul 12 ,2015, city : Abu Dhabi

Abu Dhabi: Rental rates in Abu Dhabi are on the rise following a slow start to the year, with a six per cent rise in the last quarter compared to the first, according to the latest Asteco market report that was issued on Sunday.

The majority of prime, high and mid-quality developments saw price increases between four and si... More..

Ministry of Finance forms federal property committees

Jul 12 ,2015, city : Abu Dhabi

Abu Dhabi: The Ministry of Finance (MoF) has begun to form a group of specialised federal property management committees across each federal entity in a bid to monitor the performance of property rental committees and present its reports to the Cabinet.

The move comes after the Cabinet’s decision to implement the Po... More..

Dubai property market: Flight towards affordability

Jul 12 ,2015, city : Dubai

Dubai’s property market is rarely out of the news. Be it booming or in the middle of a bust. In the last six months, the market has been fairly stable with prices remaining steady throughout the emirate.

What has picked up momentum in the industry, however, is a focus on affordability. Several new launches, billed as ... More..

Abu Dhabi rents up 6 per cent in the second quarter

Jul 12 ,2015, city : Dubai

Rents in Abu Dhabi jumped by 6 per cent in the second quarter of this year from the first on a lack of new supply, according to a report by Asteco.

The property consultant said new leases were being agreed on rates that were typically about 8 per cent higher than previous deals, but renewals on prime, high and mid-quality a... More..

Amer Group setting up in UAE to expand Mena footprint

Jul 11 ,2015, city : Dubai

The Egyptian real estate firm Amer Group is setting up a company in the UAE as part of plans to expand its footprint in the Middle East and the North Africa region.

Porto International Group Investment will be set up in the Jebel Ali free zone, the Cairo-based compnay said in a statement to the Egyptian stock exchange yeste... More..

SME profile: Dubai architect building up a solid reputation

Jul 11 ,2015, city : Dubai

Viktor Udzenija was supposed to be the first to officially open offices in the new Dubai Design District, but he says he let his architectural instincts get the better of him.

“The entry door to the office was too near the toilets. I didn’t want clients to have to see someone zipping up their pants as they came ... More..

Dubai house rents to fall by 4% in 2015- report

Jul 9 ,2015, city : Dubai

Apartment rents in Dubai are expected to see a steady decline of 3 to 4 per cent this year while villa rents are set to fall marginally by 1 to 2 per cent, according to a new report by real estate firm Core Savillis.

Dubai’s apartment rents fell 0.3 per cent per month during the last six months but villa rents remai... More..

Abu Dhabi and Dubai renters’ peace of mind a matter of landlords and locations

Jul 9 ,2015, city : Abu Dhabi

Abu Dhabi introduced its rent cap in 2006, when the emirate was undergoing ambitious expansion fuelled by an unprecedented development programme.

The sudden influx of expatriate workers and their families vastly outstripped the available housing supply, causing rents to increase by double or more.

Following t... More..

Abu Dhabi rent index will relieve pressure on housing costs, say experts

Jul 9 ,2015, city : Abu Dhabi

Proposals for a new rental index in Abu Dhabi to replace the cap that was abolished in November 2013 should help to relieve spiralling housing costs, which nudged inflation in the city to a six-year high of 5.3 per cent in April.

The index, which is being drawn up by the Department of Municipal Affairs (DMA), could be intro... More..

Rent caps bring world of difference across major cities

Jul 9 ,2015, city : Dubai

London // How did Monica afford such a cool Manhattan apartment in the hit comedy series Friends?

The chances are that while Monica, a chef, was (illegally) sub-letting her grandmother’s apartment, it was also subject to rent controls.

Rent controls are one economic instrument that divides opinion the w... More..

Dubai property prices dip in Q2 as business activity hits two-year low

Jul 9 ,2015, city : Dubai

Real estate prices fell in Dubai along with growth rates in business activity and new orders during the second quarter.

About half of the 70 property agents in Dubai polled by Emirates NBD and Markit reported a drop in average sale prices during the second quarter.

This coincided with fewer new buyer inquirie... More..

Back to the future for Dh33m London penthouse

Jul 9 ,2015, city : Dubai

London’s Soho is an area that has undergone a remarkable transformation in the course of the past 30 years.

Once considered downmarket and seedy, it has gentrified at such a pace that there are now campaigns fretting that it is losing its character.

Its revival has been credited to the fact it became a ... More..

Residential real estate activity slows in June

Jul 9 ,2015, city : Dubai

Dubai: Activity in the residential real estate market slowed in the three months to June, with both prices and volumes lower than in the previous survey according to the latest Emirates NBD Dubai Real Estate Tracker survey.

The Real Estate Tracker comprises two surveys: one for estate agents and one for consumers, with ques... More..

Arabtec sheds senior positions as part of cost cutting

Jul 8 ,2015, city : Dubai

Shares of Arabtec fell yesterday to their lowest level in a month after the contractor announced that several senior staff were leaving the firm as part of a new round of restructuring.

Arabtec closed 2.7 per cent lower at Dh2.48 in Dubai.

The company said the chief financial officer Iyad Abdul Rahim, the hum... More..

Commercial properties in Dubai’s Business Bay poised for decline after bullish years

Jul 8 ,2015, city : Dubai

Commercial property owners in the Business Bay area of Dubai should brace themselves for a fall in the value of their properties after a bull market in recent years, according to Core Savills.

Property prices and rents in the area have rebounded over the past three years, gaining from its proximity to the central business d... More..

Dubai residents and property expert left bemused by eviction notice law

Jul 8 ,2015, city : Dubai

After reading a recent column of yours advising a landlord, I was intrigued by one sentence: “Please remember to serve the eviction notice upon expiry of the tenancy agreement as per law 33 of 2008, article 25, section 2”. In my case, the landlord asked for an increase of 25 per cent last year, which I refused by referencing t... More..

Emaar Misr to buy back shares after stock plummets in Egypt IPO

Jul 8 ,2015, city : Dubai

Emaar Misr for Development, which started trading on Sunday, offered to buy back 90 million shares through a fund after the stock plummeted on its second trading day, according to the state-run Mena news agency.

Mena reported the planned purchase without identifying the fund or the stock exchange official it cited. The shar... More..

Dubai residential property investors who want out advised to sell now

Jul 8 ,2015, city : Dubai

Investors who bought into Dubai’s residential property market after the property crash and who are looking for an exit should consider doing so now, according to Core Savills’ chief executive, David Godchaux.

Its latest report states that average prices for apartments and villas reached their highest point in th... More..

Dubai rents resilient to sharp corrections

Jul 8 ,2015, city : Dubai

Dubai: After steep double-digit increases in each of the last three years, average apartment rents in Dubai may have dipped — but only by a marginal 0.3 per cent a month in the first-half of the year.

This contrasts quite markedly with the rental gains of 17 per cent, 26 per cent and 15 per cent annually during 2012-1... More..

Picking and choosing the winning locations

Jul 8 ,2015, city : Dubai

Dubai: Whether it’s a first-time buyer or a seasoned investor, the astute property buyer will look for areas that have it all — an attractive built environment, solid infrastructure, reliable transport links and a likely return on investment.

Some investors try to identify up and coming locations where they can ... More..

IMG tucks into dining industry with Spanish deal

Jul 7 ,2015, city : Dubai

The Ilyas and Mustafa Galadari Group (IMG) has signed a deal that marks the Dubai-based conglomerate’s entry into the food and beverage sector.

IMG plans to open the first international outlet of Spain’s Asador de Aranda Group in the first quarter of next year, and expects to open 12 more in the Middle East in t... More..

Azizi Developments to launch two new projects at Al Furjan in Dubai

Jul 7 ,2015, city : Dubai

Azizi Developments has announced that it has launched two new residential projects in the Al Furjan area of Dubai.

The two new towers, Daisy and Freesia, will each have a ground floor and 11 upper floors and will contain one-, two- and three-bedroom apartments as well as swimming pools, a gym and parking.

The... More..

Dubai property market ‘unlikely’ to experience drastic correction

Jul 7 ,2015, city : Dubai

Dubai’s property market is unlikely to face another 2008-style plunge, according to the London Business School.

The institution carried out a survey of more than 200 business executives to gauge their views on the market, which is predicted to face price drops of up to 20 per cent in some areas, according to the ratin... More..

Damac to join hands with Versace Home for its first project in London

Jul 6 ,2015, city : Dubai

Damac Properties has released more details of its first project in London.

According to the Dubai-based developer, it has a 20 per cent share in a joint venture that is developing a 50-storey tower at Nine Elms.

The area is part of the Vauxhall district of London on the south bank of the River Thames. The tow... More..

Dubai mid-market hotels gain ground as visitor profiles change

Jul 6 ,2015, city : Dubai

Dubai mid-market hotels are coping better with falling room rates than their upmarket rivals, new research shows.

The emirate is shifting towards the development of more mid-market hotels as the profile of visitors changes, according to the property consultancy Knight Frank.

Its latest Dubai Hospitality Repor... More..

Dubai property market unlikely to see drastic correction – survey

Jul 7 ,2015, city : Dubai

Dubai’s property market is unlikely to see a severe correction similar to the one in 2008, a market intelligence survey by London Business School showed.

The study, which polled more than 200 business executives, examined the possibility of another real estate bubble in the emirate’s property sector.

More..

Questions raised over Dubai property supply amid gloomy price forecast

Jul 6 ,2015, city : Dubai

The fall in residential prices in Dubai which has been taking place over the past three quarters looks set to continue for the second half of this year and the early part of 2016.

The underlying problem appears to be that builders keep outpacing buyers – although at least one developer is wondering if local consultanc... More..

Dubai’s healthy rental yields still strong bait

Jul 6 ,2015, city : Dubai

Dubai: Almost half of the respondents in the London Business School poll reckoned they would invest in the Dubai property market, citing the emirate’s economic outlook and the available rental yields as reasons.

“Roughly half of the executives surveyed recognise the risk that the supply of new properties will in... More..

Dubai property deals taking longer to complete, experts say

Jul 6 ,2015, city : Dubai

Dubai: With Dubai’s property prices in cool-off mode, prospective buyers are in no hurry to seal the deal in the secondary market. The average time taken these days now average anywhere up to five to six months from the time an investor decides to buy to actually signing the papers for the purchase.

“The transac... More..

The 20 most expensive places for tenants

Jul 5 ,2015, city : Dubai

Dubai: Looking for a place to rent that doesn’t cost you your whole year’s salary?  Stay away from Monaco.

One of the smallest sovereign states in the world, Monaco tops the list of places with most expensive apartments for rent.

According to the Mid-Year Cost of Living Index by comparison we... More..

Cayan starts work on Riyadh tower

Jul 5 ,2015, city : Dubai

Cayan Group, the developer of the twisted Cayan Tower in Dubai Marina, has broken ground on a 100 million Saudi riyal (Dh97.9m) office tower project in Riyadh.

The 14-storey CMC Tower on King Fahd Road in the Saudi capital is being developed in partnership with Saudi financial services company Mefic Capital. Both firms will... More..

Reem Mall plans given green light from Abu Dhabi UPC

Jul 5 ,2015, city : Dubai

The developer behind the US$1 billion Reem Mall yesterday said that the project was on target to start this year after Abu Dhabi Urban Planning Council (UPC) granted approval for its concept plan.

“The UPC approval represents a major milestone in the development of Reem Mall, allowing the project to move closer to the... More..

Emaar Misr IPO dampened by violence and Greek question

Jul 5 ,2015, city : Dubai

Emaar Misr shares rose by as much as 7.4 per cent on their first day of trading on the Egyptian Exchange on Sunday, in the country’s largest initial public offering in eight years.

However, the shares’ performance fell well short of analyst predictions, with investor sentiment subdued by recent violence in Egypt... More..

Dubai Sports City in talks over funding for Fifa-compliant football stadium site

Jul 4 ,2015, city : Dubai

Dubai Sports City is in talks with financiers about funding for the site of a proposed 60,000-seat football stadium.

The developer’s chief financial officer, Vijay Sajjanhar, said that, although its focus is the development of a canal zone running through the centre of the site, the main outdoor stadium was “on ... More..

Greek investment opportunities are multifold

Jul 4 ,2015, city : Dubai

Dubai: Apart from a chance to pick up cheap assets that could have long term — very long term — upside possibilities, there could be other reasons why Greece realty holds value for overseas investors.

“If you want to retire or have a long term (plan) in place to stay in Greece, the coming period could offe... More..

Greece’s asset stripping can lure UAE investors

Jul 4 ,2015, city : Dubai

Dubai: Some UAE and Gulf travellers are drawing up plans for short visits to Greece this summer, but not necessarily to catch the scenery or the sun. Instead, they will be on the lookout to pick up choice real estate assets on the cheap.

Valuations on Greek realty are down to “10 cents to the dollar” from their ... More..

Steep discounts on Dubai’s high-end properties

Jul 3 ,2015, city : Dubai

Dubai: “Negative premium” is starting to show up in Dubai’s property market, with fairly steep discounts — 5-8 per cent off on the original price — starting to be offered in the secondary market on recent off-plan launch units.

This is most apparent for high-end properties, located at both esta... More..

Emaar chairman Mohamed Alabbar to set up property institute in Dubai

Jul 2 ,2015, city : Dubai

Mohamed Alabbar, the Emaar Properties founder and chairman, is setting up a non-profit institute to providing high-level training to senior managers and professionals in the real estate industry.

The institute will offer programmes that will cover theoretical and practical study of the property market and will draw on case ... More..

Emaar chairman to set up realty institute

Jul 2 ,2015, city : Dubai

Dubai: Emaar chairman, Mohammad Al Abbar, has confirmed plans for a not-for-profit institute for the real estate sector in the UAE. The mandate is to develop a “talented pool” of senior managers and professionals for the sector. It will be wholly funded by Al Abbar, Emaar said in statement on Thursday.

“Th... More..

Can Dubai landlord go back on eviction notice?

Jul 1 ,2015, city : Dubai

Last year I received an eviction notice and the landlord mentioned that she wants to move in herself. Since then I have moved into a new house for Dh70,000, but now my previous landlord has informed me that she can renew the contract for Dh65,000. I believe that under last year’s market conditions she thought she could rent the hous... More..

Contractor appointed to build first Town Square apartment blocks in Dubai

Jul 1 ,2015, city : Dubai

The developer of the 300-hectare Town Square housing project in Dubailand has appointed a main contractor to build its first two apartment blocks.

Nshama has awarded contracts for the Zahra and Safi apartment blocks to Dubai-based United Engineering Co (Unec), marking the first stage of construction of the Town Square proje... More..

More Sharjah projects now open up to resident buyers

Jul 1 ,2015, city : Dubai

Dubai: Be it plots, villas or upscale apartments, more Sharjah developers are opening their doors to buyers of all nationalities, but with UAE resident visas. The widening list of options that Sharjah now offers — and even extending to offices and commercial real estate assets — has helped “maintain” transactional ... More..

Nakheel awards Dhs550m contract for Deira Islands coastal work

Jul 1 ,2015, city : Dubai

Dubai-based developer Nakheel has awarded a deal worth Dhs 550m to marine engineering contractor Van Oord to complete coastal works on its Deira Islands project.

Under the contract, Van Oord will construct 23.5km of coastline and breakwaters at Deira Islands, a new 15.3 sq km waterfront development.

The first... More..