Latest Real Estate News

UAE's industrial market 'steady' in H1 despite economic headwinds

Sep 30 ,2016, city : Dubai

The UAE industrial market has continued to show a relatively steady performance despite the emergence of economic headwinds, according to real estate consultancy firm CBRE.

Its H1 2016 UAE Industrial & Logistics MarketView report said the softening of crude oil prices over the past 18 months has had mixed effects on the UAE... More..

Dubai Parks to open Legoland, Riverland on October 31

Sep 30 ,2016, city : Dubai

Dubai Parks and Resorts, the region’s largest integrated theme park destination, announced  today that it will now open on 31st October with Legoland Dubai and Riverland Dubai, the retail dining and entertainment district.

Bollywood Parks Dubai, Legoland Water Park and the Lapita Hotel will open to the public on 15th... More..

Dubai property ads need gov't approval from Sunday, says RERA

Sep 29 ,2016, city : Dubai

All property adverts must be signed off by Dubai’s real estate regulatory department before going live, under new rules that come into force on Sunday.

Real estate agents operating across the emirate this week received a circular from Marwan Ahmed Bin Ghalita, CEO of the Real Estate Regulatory Agency (Rera) informing them... More..

Dubai Properties adds 18 new buildings to Remraam community

Sep 28 ,2016, city : Dubai

Dubai Properties on Wednesday announced 18 new buildings available for lease in its Remraam project in Dubailand.

The developer said in a statement that construction progress of the 18 new buildings, which contain 1,441 units, has reached 90 percent.

The new buildings add to the 60 buildings that have now been handed ov... More..

New Burj Khalifa tower project launched to tackle studio shortage

Sep 28 ,2016, city : Dubai

Developer SRG and property investment firm Select Property have announced the launch of sales in its Marquise Square development which aims to address a shortage of studio apartments in Dubai’s Burj Khalifa district.

The project is scheduled for completion in the fourth quarter of 2018, a statement said.

The devel... More..

Property agents in Dubai ordered to verify ownership before sale

Sep 26 ,2016, city : Dubai

Real estate agents in Dubai have been instructed to verify property ownership before conducting a sale or letting, Dubai Land Department (DLD) said on Sunday.

The department revealed it had issued a circular to all real estate brokers operating in Dubai informing them of the new requirements.

Under the rules, agents are... More..

Aldar to launch townhouse sales at $1.6bn Abu Dhabi scheme

Sep 26 ,2016, city : Dubai

The third phase of Aldar Properties’ Yas Acres residential scheme opens for sale on October 4, the Abu Dhabi developer announced on Sunday.

The AED6 billion ($1.6 billion) golf and waterfront villa development on Yas Island comprises 260 homes, including 2- and 3-bedroom townhouses and 3- and 4-bedroom duplexes.

P... More..

Affordable housing demand rising in Saudi capital city

Sep 24 ,2016, city : Dubai

There is increasing demand for affordable housing in Riyadh as Saudi Arabia's population growth continues to outstrip property market supply, according to Chestertons.

Its Riyadh Real Estate Market Overview for Q2 said that Riyadh's population has grown by 52 percent over the past 15 years and currently stands at 6.5 mi... More..

UAE firm invests $130m in luxury Chelsea homes project

Sep 24 ,2016, city : Dubai

UAE-based Gulf Islamic Investments is leading a £100 million ($130.4 million) development of premium residential apartments in Chelsea, London.

The property, a former police station, is located in the highly desirable Royal Borough of Kensington and Chelsea, the company said in a statement.

GII is developing the p... More..

Dubai's EREF acquires 201-unit residential project

Sep 23 ,2016, city : Dubai

Emirates Real Estate Fund (EREF), managed by Emirates NBD Asset Management, has announced its acquisition of Binghatti Terraces in Dubai Silicon Oasis.

Binghatti Terraces is a residential building with a current gross rental income of approximately AED14.5 million per annum, the company said in a statement.

It added tha... More..

Fancy a $73m mansion on Dubai's Palm Jumeirah?

Sep 23 ,2016, city : Dubai

A collection of 104 luxury homes on Dubai’s Palm Jumeirah being built by Saudi-Qatar joint venture Al Sharq Investment is on track for handover next year.

The JV between Saudi Arabia’s Al Sharq Group and Qatar’s Al Mana Global said Alef Residences on the Palm’s West Crescent adjacent to a new W Hotel als... More..

UAE's Azizi launches new $68m residential project in Dubai

Sep 22 ,2016, city : Dubai

UAE-based Azizi Developments has announced its plans for its newest project, Azizi Shaista Residence, in the Al Furjan neighbourhood in Dubai.

The property adds to Azizi Developments' portfolio of UAE-based projects valued at around AED7.3 billion, the developer said in a statement.

Azizi Shaista is due for completi... More..

UAE nationals among leading investors in European ski resort properties

Sep 22 ,2016, city : Dubai

UAE has been ranked in the top eight  buyers of ski property in Europe, according to a new survey.

Property consultancy Knight Frank, in its Ski Property Report 2016, said the UAE was among a growing number of countries investing in global ski resorts during the last six years.

In 2010, the majority of investors ca... More..

Sharp increase in demand for Qatar residential properties

Sep 22 ,2016, city : Dubai

The demand for residential properties and office space in Qatar rose 17 percent compared to 12 months ago.

The double-digit growth followed a relatively slow season due to summer and Eid holidays, revealed real estate company DTZ Qatar, reported The Peninsula Qatar.

Most enquiries were focused on furnished two-bedroom a... More..

Average Dubai rents slump 5% in August, Abu Dhabi values rise

Sep 21 ,2016, city : Dubai

Average rents in Dubai fell by five percent in August compared to the previous month while rental values rose in neighbouring Abu Dhabi, according to a new report by real estate website Bayut.com.

In terms of yields, Dubai's apartment rental segment stayed relatively stable in August, averaging 5.6 percent across all bed ca... More..

Qatar to invest $3.3bn improving infrastructure

Sep 19 ,2016, city : Dubai

Since March 2014, Qatar has reserved over $3.3bn (QR12bn) for the improvement of infrastructure through 29 projects across the country, according to the annual report of the Public Works Authority Ashghal.

Three of the main projects are located in the Doha Industrial Area, reported Gulf Times.

Package 1 of the ... More..

Dubai developer to launch tower with only studio apartments

Sep 19 ,2016, city : Dubai

Dubai-based developer Shaikhani Group has revealed plans to launch a tower of apartments with just studio apartments.

The current trend of affordable housing in Dubai has led developers to launch more competiveily priced projects.

Danube Group has built its entire portfolio on affordable housing and has sold ou... More..

Dubai South launches apartments for $76,000

Sep 19 ,2016, city : Dubai

Buyers can purchase their dream home at The Pulse, a residential project at Dubai South, for only AED280,000 ($76,000) onwards, the master developer said in a statement.

Dubai South, a Dubai government project launched in 2006, unveiled its first two real estate projects, The Pulse and The Villages, at Cityscape Global in Dubai... More..

Luxury Dubai realtor sees spike in demand for penthouses

Sep 16 ,2016, city : Dubai

High-end realtor Luxhabitat has reported a spike in penthouse sales in Dubai this year with more than 50 sold between January and August.

The company, which is focused on properties priced above AED5 million, said a further four penthouses have been sold since last month while another five have been rented out over the pa... More..

Dubai's Shaikhani posts $8.1m property sales at Cityscape

Sep 15 ,2016, city : Dubai

Shaikhani Group, the company behind projects worth AED3.5 billion ($950 million) that are in various stages of development in Dubai, has said it secured AED30 million worth of sales during the Cityscape Global exhibition.

"We received more than 4,500 sales inquiries at our stand during the three-day event that resulted in ... More..

UK firm awarded Emaar's The Tower contract

Sep 15 ,2016, city : Dubai

BMT Fluid Mechanics has won a consultancy contract at Emaar Properties’ The Tower at Dubai Creek Harbour.

The firm, which is a subsidiary of BMT Group, will act as the megaproject’s wind engineering consultant.

The latest contract was awarded by Aurecon, which was itself selected by The Tower at Dub... More..

Tanmiyat sees more Indians, Africans investing in Dubai property

Sep 14 ,2016, city : Dubai

Developer Tanmiyat has identified an increase in buyers of Dubai property from emerging markets such as India and Africa during 2016.

The influx of these investors has overtaken traditional buyers from developed nations such as the UK, Germany and Russia, who have seen unsteady economies in recent years, the company said ... More..

Super-prime property 'cushioned' in Dubai, says Al Sharq

Sep 13 ,2016, city : Dubai

Dubai’s super-prime residential sector is “cushioned” from the economic slowdown affecting the rest of the market and demand remains high, according to a senior executive from developer Al Sharq Investment.

Matthew Bate, executive manager of Al Sharq Investment, said the company had sold 20 percent of un... More..

Prices of central prime Dubai homes rise for third successive month

Sep 12 ,2016, city : Dubai

Prices for centrally located prime properties in Dubai rose for the third successive month in August but overall values dropped marginally, according to a new report.

The August ValuStrat Price Index (VPI) demonstrated mixed price performance for the majority of locations monitored by the index.

The report said... More..

UAE office demand 'stifled by redundancies' during Q2

Sep 10 ,2016, city : Dubai

The impact of the softening global economy continues to hamper the UAE's office market as redundancies in the oil and gas, finance and banking sectors have stifled demand for office space across the emirates, according to Cluttons.

Its 2016 UAE Property Market Report forecasts declines of close to 5 percent in Abu Dhabi and ... More..

Pakistani investors increase interest in Dubai real estate market

Sep 9 ,2016, city : Dubai

Real estate investors in Pakistan are peaking their interest in Dubai's property market, with enquiries rising "significantly" during the first six months of 2016, according to propertytrader.ae.

The real estate portal said searches on its website from would-be buyers from Pakistan have peaked this month, ah... More..

Rasmala inks $81m deal to buy Dubai warehouses

Sep 9 ,2016, city : Dubai

Rasmala, an independent investment management group, has announced that it has completed the acquisition of 72 warehouses in Dubai covering nearly 600,000 sq ft in a deal worth about AED300 million ($81 million).  

The acquisition of the warehouses in Dubai Investments Park is through a sale and leaseback arrangeme... More..

Now is the time to buy in Dubai, says Danube chief

Sep 9 ,2016, city : Dubai

Property in Dubai has never been priced better, according to Danube Properties chief, Rizwan Sajan.

The founder and chairman of Danube Group said now is the right time to invest in property, whether it’s a Danube apartment or not.

“At the moment it's a very good time to buy a property. I always ... More..

Banks have to be responsible about lending, says Al Habtoor

Sep 8 ,2016, city : Dubai

The chairman of conglomerate Al Habtoor Group has said banks have to be responsible when it comes to lending in the UAE, particularly in relation to mortgages.

Khalaf Al Habtoor met with senior management from Emirates NBD this week, including CEO Shayne Nelson, and discussed the growing economy in Dubai and the increased inf... More..

Dubai property giants call for more investment from UK, Europe

Sep 8 ,2016, city : Dubai

An executive director of Dubai Properties has called on the industry to do more to attract real estate investment from Europe and the UK, as the managing director of Damac Properties reiterated calls for non-resident mortgages in the UAE.

Marwan Al Kindi, executive director of sales & sales operations at Dubai Prope... More..

Dubai's Damac says 1,350 Akoya homes to be handed over in October

Sep 8 ,2016, city : Dubai

Damac Properties announced on Wednesday that 1,350 units in its flagship master development Akoya by Damac will be delivered to investors during October. 

Around 450 luxury villas and townhouses, spanning four clusters – Silver Springs, Queen Meadows, Brookfield, and Whitefield – are completed, the developer sa... More..

Half of Dubai tenants 'want to buy own property'

Sep 8 ,2016, city : Dubai

Just over half of tenants in Dubai plan to buy their own property, a survey suggests.

Core Savills’ Dubai Residential Sentiment Survey, conducted among 700 existing tenants, indicates a growing appetite to own, with 51 percent saying they plan to buy a property in Dubai “in the future” and 27 percent o... More..

Dubai Marina, JBR see highest percentage of home moves

Sep 6 ,2016, city : Dubai

Dubai Marina and Jumeirah Beach Residence (JBR) are the most transient neighbourhoods in Dubai, witnessing the highest proportion of moves of all areas in the emirate, according to new research.

Dubai Marina and JBR accounted for 12.8 percent of total move-ins recorded in the first half of 2016 by MoveSouq.com, a website that... More..

Emaar reveals plan for Dubai South golf district mega project

Sep 6 ,2016, city : Dubai

Emaar Properties on Monday announced plans for a dedicated 7 sq km golf district, its newest mega-development in Dubai South.

Emaar South will become home to hundreds of thousands of people expected to work in the various integrated districts of Dubai South, greater Dubai area, and in close proximity to Abu Dhabi.

With ... More..

Real estate still top preference for GCC investors, says survey

Sep 6 ,2016, city : Dubai

A survey of home buyers and investors across the GCC and Egypt has shown that real estate is still the number one preferred investment, despite a recent slump in property prices in key markets.

The Real Estate Barometer study, conducted by global market research company YouGov in partnership with Cityscape Global, revealed that... More..

Dubai's Nakheel reveals ultra-luxury Palm 360 project

Sep 6 ,2016, city : Dubai

Nakheel on Monday unveiled Palm 360 - a twin-tower hotel and residential project on Dubai's Palm Jumeirah featuring 12,000 square foot branded penthouses.

Palm 360 , which will take centrestage at the Nakheel stand at Cityscape Global which gets under way on Tuesday, is anticipated for delivery in mid-2020.

Located ... More..

Dubai Wholesale City open for leasing applications

Sep 5 ,2016, city : Dubai

Dubai Wholesale City has begun accepting applications from companies wishing to reserve space at the planned new free zone, it said on Sunday.
State news agency WAM reported in March that Dubai Wholesale City is intended to be the largest wholesale hub in the world, spanning over 550 million square feet and costing AED30 bil... More..

RAK Properties reports 70% rise in H1 net profits

Sep 5 ,2016, city : Dubai

Ras Al Khaimah based developer RAK Properties has reported 70% increase in its net profits during the first half of 2016.

The reported half-year figures reveal that the net profits rose up to $10.5m (AED38.6m), compared with $6.1m (AED22.6m) in 2015.

Revenues increased to $40m (AED147.1m) in the first half ... More..

$43 billion spent on Dubai real estate in 2016

Sep 5 ,2016, city : Dubai

Real estate transactions worth more than AED158 billion ($43 billion) were recorded in Dubai in the first eight months of 2016, according to Dubai Land Department’s (DLD) Transactions Report.

More than 38,800 sales, mortgages and other transactions were recorded in the study, issued by its Real Estate Research and... More..

Sobha releases new apartments at Dubai canalside project

Sep 2 ,2016, city : Dubai

Developer Sobha Group has announced the release of new freehold apartments at Sobha Hartland Greens located on the Dubai Water Canal.

The homes are part of an eight million sq ft resort-style luxury housing project and completion of the first two apartment buildings is expected in December 2017, Sobha said in a statement.

Average prime office rents jump by 20% in Dubai

Sep 2 ,2016, city : Dubai

Rents on prime office assets across the MENA region continued to see double-digit growth in the year to the end of June, according to JLL.

Average rents rose by 11.3 percent per annum compared to 11.9 percent per annum in the year to the end of the first quarter of 2016.

JLL's Office Global Index Report ranked Du... More..

Rents in Dubai fail to drop as far as expected

Sep 1 ,2016, city : Dubai

Dubai rents failed to fall as far as expected as thousands of predicted new homes were not handed over.

The average rental price of a flats in the emirate fell by just 2 percent while average villa rents fell just 1 percent, according to property agent Asteco.

Rather than the 20,000 new homes that were predicted for ... More..

Want to live rent-free, all expenses paid in Dubai? Here’s how…

Sep 1 ,2016, city : Dubai

If the renewal of the annual rent contact looms on the horizon and the rising expenses have you worried, then here’s how you can bag a year-long stay, rent-free, in Dubai.

Emaar Hospitality Group is offering guests a chance to win a yearlong stay at The Address Residences Boulevard Dubai.

Until the end of... More..