Latest Real Estate News

Prime Abu Dhabi office rents fall by 3% in Q2

Jul 30 ,2016, city : Abu Dhabi

Average prime commercial property rents in Abu Dhabi decreased by 3 percent during the second quarter of 2016, with Grade B offices also seeing similar declines, according to a new report.

JLL's Abu Dhabi Real Estate Overview report said total office stock reached approximately 3.5 million sq m with the completion of AD... More..

Chinese investors said to be keen to raise Dubai property spending

Jul 30 ,2016, city : Dubai

Dubai has a huge opportunity to boost growing real estate investment from Chinese investors in the wake of Britain's decision to leave the EU, developers and property marketers have been told.

Uncertainty in Europe following the Brexit vote could attract a new wave of Chinese investment in Dubai based on the Emirate'... More..

Dubai property prices, rents may not rebound until 2018

Jul 29 ,2016, city : Dubai

Residential property prices continued to fall during the first half of 2016, with values expected to decline further until the end of 2017, according to a new report.

Phidar Advisory's latest Dubai residential research note said "soft demand" was behind the latest price drops rather than supply which has expan... More..

Man sells fake land plot to UAE woman for $125,000

Jul 29 ,2016, city : Dubai

An Arab expat sold land that did not exist to an Emirati woman for $125,778 (AED462,000), according to court reports.

A court in Ajman sentenced the man to a year in prison after he was convicted of the crime, reported Emirates 24/7, quoting the Emarat Al Youm newspaper.

The woman reported the man to police a... More..

IMF says UAE's property loans improving despite price declines

Jul 28 ,2016, city : Dubai

The quality of real estate loans in the United Arab Emirates has continued to improve despite sliding home prices, the International Monetary Fund said, in a sign that the UAE is coping better with a real estate downturn than it did in the last slump seven years ago.

Dubai's average residential real estate price plunged... More..

Dubai's Nakheel says H1 net profit up 4% to $803m

Jul 28 ,2016, city : Dubai

Nakheel on Wednesday announced a net profit of AED2.95 billion ($803.1 million) for the first six months of 2016, a four percent increase on the same period in 2015.

The Dubai developer said in a statement that it handed over 1,177 units to customers during the first half of the year.

Nakheel said it reached ... More..

Dubai real estate slowdown forecast to continue in Q3

Jul 28 ,2016, city : Dubai

Dubai property prices and rents recorded little or no movement during the second quarter of 2016, according to a new report by Chestertons MENA.

The report said total transactions in the second quarter were down 6 percent at AED26 billion, compared to the previous quarter, but sales transactions were up 17.5 percent.
... More..

Dubai residential values decline by 1.1% in Q2 – ValuStrat

Jul 28 ,2016, city : Dubai

Residential property values in Dubai declined by 1.1 percent overall in the second quarter of 2016, according to ValuStrat’s latest market report.

The median residential transaction price in Dubai witnessed a decline of 5.7 percent year-on-year, the research said, however the median price was marginally up by 0.1 perc... More..

Prime Dubai office costs highest in MidEast, dwarfed by Hong Kong

Jul 23 ,2016, city : Dubai

Prime office space in Dubai remains the most expensive in the Middle East but is more than a third the cost demanded in Hong Kong, a new report has revealed.

Dubai is ranked 23rd globally with office occupancy costs of AED280 ($92.57) per sq ft per year, according to CBRE Global Research and Consulting's Global Prime Of... More..

Business Bay, Marina top buy favourites in Dubai

Jul 22 ,2016, city : Dubai

Total real estate transactions in Dubai touched Dh113 billion in the first six months of 2016 after recording Dh55 billion in the first quarter.

In a transaction report, issued on Tuesday, Dubai Land Department (DLD) said a total of 28,251 sales, mortgages and other transactions were registered during the period with proper... More..

Bahrain's new foreign ownership law 'to boost property markets'

Jul 22 ,2016, city : Dubai

The decision by the Bahraini government to allow foreign investors 100 percent ownership in various sectors of the market is likely to have a positive long term impact on the kingdom’s property markets, according to Cluttons.

According to the government, the new law will allow 100 percent ownership in residency, real ... More..

Dubai Holding, Emaar to revive world's longest luxury hotel chain project

Jul 19 ,2016, city : Dubai

Bawadi, announced as the largest hospitality and leisure development in the world in 2007, is being revived in Dubai, Dubai Holding Chief Executive Officer told Emirates 24|7.

“The Bawadi project, a joint venture between Dubai Holding and Emaar, is currently in its early stages and progress will be com... More..

70% of UAE residents opt to rent rather than buy a home

Jul 17 ,2016, city : Dubai

About 70 percent of UAE residents prefer to rent rather than buy property, despite half of them having resided in the country for five years or more, revealed a survey by UAE real estate website propertyfinder.ae

The findings come in spite of decreasing property prices in the past two years. They are also contrary to those ... More..

DLD to look at stimulating affordable housing development in Dubai

Jul 17 ,2016, city : Dubai

Dubai Land Department (DLD) is undertaking a study on how to develop the emirate’s affordable housing sector and is expected to make policy recommendations this year.

In an interview, DLD director-general Sultan Butti Bin Mejren told Arabian Business that the government is keen to grow what is at present a nascent rea... More..

Jul 7 ,2016, city : Dubai

Dubai-based bank Mashreq has announced a partnership with real estate firm Arady Properties to launch the UAE’s first Qualified Investor Real Estate Fund.

The Sharia’h compliant fund, which will be registered in the Dubai International Financial Centre (DIFC), will seek to acquire "select, income generating... More..

The 'city' opens its door wide in Dubai

Jul 6 ,2016, city : Dubai

Dubai: Dubai’s latest “city” has opened its doors wide to residents and with expectations of many to come. And what’s more, it already has a bustling “downtown” even as developers keep filling up spaces within the city itself.

Welcome then to MBR (Mohammad Bin Rashid) City, set to emerg... More..

Gulf buyers said to re-enter UK property market after Brexit

Jul 4 ,2016, city : Dubai

Falls in sterling following the UK's vote to leave the European Union have prompted some Middle East buyers to re-enter the British real estate market, according to property firm Savills.

The company also said in a statement that there has also been a fair share of speculative bids from Gulf-based investors hoping to se... More..

Barwa Real Estate nearly trebles Q2 net profit

Jul 4 ,2016, city : Dubai

Qatar's Barwa Real Estate, one of the Gulf Arab state's largest listed developers, has reported a near-trebling of second-quarter net profit.

Barwa made a net profit of 550 million riyals ($151.1 million) in the three months to June 30, Reuters calculated based on previous financial statements in the absence of a qu... More..

Damac launches new cluster of golf villas at Akoya Oxygen

Jul 3 ,2016, city : Dubai

Dubai-based developer Damac Properties unveiled Akoya Imagine, a new cluster of homes surrounded by the greens and fairways of the international golf course.

Set within the Akoya Oxygen master development, Damac said the Akoya Imagine is a collection of colourful villas aimed at young couples and famil... More..