May 31 ,2016, city : Dubai
Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development, and Chairman of Sheikh Zayed Housing Programme, and Ahmed Moussa, General Manager of Dubco Construction, have signed a Dh194.5 million contract for construction and maintenance of the 900,600-square metre Al Quoz Residential Complex in Dubai. ... More..
Dubai companies have awarded projects worth Dh30.46 billion in the first months of 2016, according to a report by consultancy firm, Deloitte.
In its annual publication: “GCC Powers of Construction 2016: The funding equation”, the consultancy said that ... More..
May 31 ,2016, city : Abu Dhabi
The Dubai property market has experienced an “encouraging change" during the current quarter after the market had stabilised earlier in the year, according to brokers Chesterton’s.
“Price dropping is slowing down and the appetite of investors and owner-occupiers alike is sh... More..
May 30 ,2016, city : Abu Dhabi
The sleek, modern luxury of the Yas Acres’ sales centre on Yas Island is a throwback to the glory days of real estate eight or nine years ago. Except there is a very 2016 feel to it all.
Abu Dhabi’s property market is over-supplied and the government may take steps to address the imbalance, a senior official said on Sunday.
Prices in the UAE capital’s residential sector were flat last year, after rising about 25 per cent a year in 2013 and 2014, as affordability level... More..
May 28 ,2016, city : Dubai
Average residential rents in Oman dipped by 5.9 percent during the first quarter, leaving them 12.7 percent below the year-earlier period, according to real estate consultancy Cluttons. Cluttons' Muscat Spring 2016 Property Market Outlook report forecast a further 5-10 percent decline in rents during the remainder of th... More..
May 25 ,2016, city : Dubai
I moved to Bahrain six months ago and am thinking of buying a property in the UAE for investment purposes that generates a decent yield with good capital appreciation. I was reading about Abu Dhabi, especially when it comes to rents which, I believe, are higher than Dubai. What are th... More..
May 24 ,2016, city : Dubai
Leasing activity in Dubai’s residential market tailed off towards the end of the first quarter as landlords proved more willing to negotiate on rents to keep existing tenants in place, according to a report from Asteco Property Consultants.
May 21 ,2016, city : Dubai
The GCC construction market is facing pressure from cuts in government spending, late payments, increased overseas competition, bureaucracy and staffing challenges, according to a report from Meed. Yet despite all that, the Dubai-based research house expects the sector to recover across the GCC by 2018. The r... More..
May 19 ,2016, city : Dubai
Starting May 2016, Dubai tenants renting a property in the emirate are able to sub-lease ... More..
Dubai-based real estate developer Limitless announced today that it will make an early payment of Dh2.07 billion to banks and trade creditors this month, following the successful conclusion of its restructuring agreement with lenders.
Under the agreement, Limitles... More..
May 16 ,2016, city : Dubai
Dubai’s Supreme Council of Energy has completed a pilot project that will eventually map the energy use of buildings in the city.
The pilot project has taken in 110 buildings of different types – from residential blocks to hotels, and factories to worker camps – in communities a... More..
May 9 ,2016, city : Dubai
The developer behind the 1km-high Jeddah Tower, set to be the world’s tallest building, has said that it is looking to get back up to speed after funding issues with contractor Saudi Binladin Group caused delays.
Hisham Jomah, the chief development officer of Jeddah Economic Company, confir... More..
May 15 ,2016, city : Dubai
The contractor Arabtec has said that it is “looking at ways to enhance its capital structure" after posting its sixth successive quarterly loss yesterday.
The company said it “is currently engaged in discussions with Aabar, its largest shareholder, in respect of potential options... More..
May 12 ,2016, city : Dubai
DUBAI // A five-star rating system for buildings will improve maintenance and safety but it must be objective, in-depth and meet international standards to be effective, owners and experts said.
The Dubai Land Department announced this week that every building in the emirate would receive a ratin... More..
May 11 ,2016, city : Dubai
Rental values for prime office space in Dubai soared by 20 percent in the first quarter of 2016 compared to the year-earlier period, according to a new report by real estate firm JLL. The JLL Global Office Index showed that Dubai was the top performer in the Middle East and North Africa region, with falling vacancies in Dub... More..
Slow elevator speeds and freezing conditions are among the major complaints of office workers in the region.
A joint study commissioned by the Middle East Council for Offices and the Royal Institution of Chartered Surveyors on office environments and productivity, found that 67 per cent of r... More..
May 10 ,2016, city : Dubai
Dubai-based luxury property developer Seven Tides is heading to the UK capital later this month to showcase its luxury projects on Palm Jumeirah to London’s investment community. The company said it will chase international investors at the Dubai Property Show, which will be held at the Olympia exhibition centre from ... More..
Abu Dhabi's Aldar Properties reported a 14.1 percent rise in first-quarter net profit on Tuesday, maintaining its run of improving earnings. The state-linked builder of Abu Dhabi's Formula One circuit, which reported higher profits in nine of the preceding 10 quarters, made a profit attributable to equity holders of... More..
May 8 ,2016, city : Abu Dhabi
The CEO of the UAE’s Aabar Properties has reportedly insisted that the company is committed to Abu Dhabi despite plans to expand internationally. The real estate developer, part of Aabar Investments, which is owned by the Abu Dhabi’s International Petroleum Investment Company (IPIC), plans to build 1,000 units i... More..
May 8 ,2016, city : Dubai
Real estate developers in Dubai have reportedly been asked to warn landlords against short-term lets or they would face fines of up to AED100,000 ($27,000). Dubai’s Department of Tourism & Commerce Marketing (DTCM) issued a notice to developers across the emirate, stating: “Your involvement as developers is ... More..
The Dubai-listed healthcare and education company Amanat Holdings reported a more than five-fold jump in first-quarter net profit, thanks to its Al Noor Hospitals Group share sale and its Islamic finance products.
Amanat’s net profit in the three months ending March 31 surged to Dh9.5 milli... More..
May 6 ,2016, city : Dubai
RAK Properties, Ras Al Khaimah's biggest property developer, is set to release phase 2 of its Bermuda Villas development as part of its flagship Mina Al Arab waterfront community. Bermuda Villas was launched in 2014 and is set for completion by late 2016, the company said in a statement. The residential c... More..
May 5 ,2016, city : Dubai
There are few housing estates in the world where the cheapest home you can buy is on the market for a whopping Dh7.2 million.
Despite splashing out a sum equating to US$1.96 million, whoever buys this four bedroom villa in the Abu Dhabi beachfront development, Hidd Al Saadiyat, might find it diff... More..
May 3 ,2016, city : Dubai
Infrastructure work at the Hidd Al Saadiyat luxury beachfront resort in Abu Dhabi is “nearly finished".
The development will feature 461 villas on a land area covering nearly 1.5 million square metres of natural waterfront land within Saadiyat Island. Initial construction on Hidd Al Sa... More..
Dubai’s office market continued to see strong demand for prime commercial property, resulting in declining vacancy rates in key locations, according to real estate consultancy firm CBRE. Its Q1 2016 Dubai MarketView said demand is currently outstripping supply in TECOM and DIFC, encouraging a new wave of development.<... More..