News
Selected News
Dubai Holding Commercial 2007 Net Jumps on Property Sales
02-05-2008 - Dubai Holding Commercial Operations Group LLC, a company owned by Dubai ruler Sheikh Mohammed bin Rashid al Maktoum, said full-year profit rose 82 percent on surging land and property sales.
Net income advanced to 13.9 billion dirhams ($3.78 billion) in 2007 from 7.6 billion dirhams a year earlier, the privately- held company said in a report posted on the Web site of the Dubai International Financial Exchange. Revenue more than tripled to 19.9 billion dirhams from 5.5 billion dirhams.
Dubai Holding Commercial, which owns property companies Tatweer Dubai LLC, Dubai Properties LLC, Sama Dubai LLC, hotel operator Jumeirah Group LLC and TECOM Investments LLC, raised $2.5 billion by selling bonds in January 2007 that are listed on the Dubai International Financial Exchange.
Dubai, the second-biggest of seven sheikhdoms that make up the United Arab Emirates, is investing in tourism to diversify its economy. Tatweer is developing the Bawadi project that may cost as much as $54 billion to build and will include a series of themed hotels based on landmarks such as the Eiffel Tower.
Dubai Holding Commercial said in its annual report the value of land sales jumped to 8.69 billion dirhams in 2007 from 1.23 billion dirhams, while property sales climbed to 5.14 billion dirhams from none in 2006.
Real estate companies in Dubai are benefiting from surging demand for land since 2002 when foreigners were allowed to buy property in some parts of the emirate.
Property values in the emirate have quadrupled over the last five years, Al Mal Capital said in a report on March 9.
Other News
26-08-2008 -
Dubai World Central and Tamweel Real Estate Group have signed an agreement to offer financing solutions to those interested in buying freehold property in the project around the new Al Maktoum International Airport.
Khaled bin Hareb, Executiv ...More...
Khaled bin Hareb, Executiv ...More...
26-08-2008 -
In mature markets such as the UK, there is a high uptake of both home building insurance and contents insurance. For some reason, the uptake in the UAE is nowhere near as high.In my opinion, for a home owner not to take out building insurance is a reckl ...More...
26-08-2008 -
The package which has been put together with a leading UK finance broker means that the mortgages can be arranged in local currency (Dirhams) with a guarantee of efficient and quick processing in the UK. This means that for investors, buying property in ...More...
26-08-2008 -
Tatweer, a member of Dubai Holding, has set a strict screening system for potential customers planning to buy property in Tiger Woods Dubai, a private residential golf community development in Dubailand, a top executive said yesterday.
"We fo ...More...
"We fo ...More...
22-08-2008 -
Thailand's Dusit Thani Group plans to open the Dusit Residence Dubai Marina in the first quarter of next year after postponing the opening from July this year due to construction delays. The 35-storey serviced apartment building will contain 146 uni ...More...
22-08-2008 -
The Dubai-based luxury residential property developer, Select Group, today announced it had awarded its construction contract to the Ras Al-Khaimah based Construction Technology Contracting. (CTC) for its Pacific project on the off-shore man-made develo ...More...
22-08-2008 -
OVERSEAS developer Select Property today announced a £100m apartments scheme in the Middle East which it said would help achieve its £800m sales target for this year.
Select Property, which is based in Wilmslow, is to develop West ...More...
Select Property, which is based in Wilmslow, is to develop West ...More...
22-08-2008 -
Wilmslow-based developer Select Property today announced plans to build a £100m apartment tower in Dubai, the company announced today.
The 31-storey West Avenue in Dubai Marina, will have 251 flats plus shops and restaurants on the grou ...More...
The 31-storey West Avenue in Dubai Marina, will have 251 flats plus shops and restaurants on the grou ...More...
22-08-2008 -
A DOZEN wooden dhows one by one were sailing in the late afternoon sun in Manama harbour in the shadow of the twin towers that make up the Bahrain Financial Harbour. The scene captured one of the many stark contrasts you can find in the Gulf where tradi ...More...
22-08-2008 -
The government of Dubai, the commercial and financial hub of the United Arab Emirates (UAE), has issued a mortgage law as part of efforts to regulate the emirate's booming real estate sector, local newspaper Khaleej Times reported on Wednesday.
...More...
...More...
19-08-2008 -
The Dubai Government’s announcement of an anti-corruption drive helped revive the emirate’s equity market.
On Sunday the share dive was led by Tamweel, whose former chief executive has been questioned by police, but yesterday the ...More...
On Sunday the share dive was led by Tamweel, whose former chief executive has been questioned by police, but yesterday the ...More...
19-08-2008 -
The ruler of Dubai has issued a new mortgage law as part of moves to regulate the emirtae's booming real estate sector, the chief executive of the Real Estate Regulatory Authority said.
Following a 35-article decree issued by Sheikh Moham ...More...
Following a 35-article decree issued by Sheikh Moham ...More...
19-08-2008 -
INDEX 2008, the biggest event for interior design firms in the Middle East, is set to host the world's major suppliers as they descend on Dubai. According toorganisers dmg, World Media, the event which takes place at the Dubai International Exhibiti ...More...
19-08-2008 -
Since foreigners were given the right to own real estate in 2002, property prices in Dubai have soared and demand has outstripped supply with record population growth.
The investment bank Al Mal Capital, said yesterday that Dubai property pri ...More...
The investment bank Al Mal Capital, said yesterday that Dubai property pri ...More...
19-08-2008 -
With the boom in the Dubai property market there is a knock on effect to other industries in the region. One of the industries to benefit from increased demand for Dubai property is design and interiors.
Organizers have announced that INDEX 2 ...More...
Organizers have announced that INDEX 2 ...More...
18-08-2008 -
As Gulf region is going through a real estate boom, in the sleepy emirate of Ajman property business is at an all-time high. Ajman is the smallest of the seven emirates and the second emirate, after Dubai, to throw open its freehold property sector.
...More...
...More...
18-08-2008 -
Dubai Real Estate Institute (DREI), the region's first specialised real estate institution, today announced the launch of its latest graduate programmes, which will encompass three in-built degrees, including Master of Real Estate Development, Gradu ...More...
18-08-2008 -
A senior official working with one of the leading real estate developers in Dubai is under scanner for allegedly taking $816.8 million as bribe, the latest trade scandal to crop up in the Gulf business hub.
Walid Al Jaziri, General Manager of ...More...
Walid Al Jaziri, General Manager of ...More...
18-08-2008 -
Abu Dhabi // Many residents of the UAE say they feel trapped in the inflated rental market, unable to purchase their own home and put off by the complexity of securing a mortgage.More than half of respondents to an online survey conducted by the website ...More...
18-08-2008 -
Dubai property prices, which have surged 79 percent since the start of 2007, are likely to fall 10 percent by 2010 as supply of real estate units outpaces demand in the Gulf emirate, Morgan Stanley said on Tuesday.
A sharper correction in Dub ...More...
A sharper correction in Dub ...More...
17-08-2008 -
ABU DHABI // Private companies across Dubai are putting their operations under a microscope to ensure there are no financial irregularities in the wake of high-profile investigations into a Nakheel official and a former chief executive of Tamweel, a sen ...More...
17-08-2008 -
Dubai’s booming property market looks to be heading for a slowdown, following years of strong capital growth.Fearing a boom-bust scenario, with a flood of new homes due to be completed and delivered over the next couple of years, the Dubai governm ...More...
17-08-2008 -
Three new degrees relating to the real estate sector have been announced in Dubai in a move that is seen as positive for the industry.The Dubai Real Estate Institute, the region's first specialised real estate institution, announced that its latest ...More...
17-08-2008 -
Desert Dream Real Estate and Investment has four more development projects in Dubai to be announced soon as it launches tonight a Dh1.7-billion residential tower, proof that it is bullish about the property market here despite reports of a slowdown in t ...More...
15-08-2008 -
Dubai Properties (DP), a leading master developer, today announced it has signed a deal with Salwan Property Management, both subsidaries of Dubai Properties Group, to manage and sell key developments around Dubai as part of its mission to offer compreh ...More...
15-08-2008 -
Profit taking haunted the Dubai stock exchange yesterday, dashing hopes of it rebounding for a second day.The Dubai Financial Market (DFM) fell 1.11 per cent to 5,018 points, its second-lowest finish of 2008, and diminishing volumes bode ill for Sunday. ...More...
15-08-2008 -
A report by Morgan Stanley Research Europe has named Aldar Properties as the 'leading developer' in Abu Dhabi's flourishing real estate sector with bullish growth prospects. Despite a stronger performance by Sorouh in 2007, the authors say t ...More...
15-08-2008 -
Renting an apartment in the emirate could get even more expensive once homeowners' associations come into effect this year.Tenants in freehold properties may end up bearing the brunt of spiralling maintenance costs, partially or even fully, say prop ...More...
15-08-2008 -
Dubai property prices rose by about 40 per cent in July compared to the same period last year, the investment bank, Al Mal Capital, said yesterday.According to a report based on Al Mal’s Dubai property price index, prices in the residential segmen ...More...
14-08-2008 -
Abu Dhabi // Dubai property prices rose by an average of 40 per cent in the month of July compared to a year earlier, Al Mal Capital revealed today.Meanwhile, rental yields declined slightly in July to 6.8 per cent compared to 7.8 per cent the year befo ...More...
14-08-2008 -
Desert Dream Real Estate and Investment has four more development projects in Dubai to be announced soon as it launches tonight a Dh1.7-billion residential tower, proof that it is bullish about the property market here despite reports of a slowdown in t ...More...
14-08-2008 -
Was surprised to see the a seemingly bearish headline about Dubai in the WSJ’s property report today. After all, it was just a couple weeks ago that another mainstream media property, 60 Minutes, did it’s love-fest profile of all things Duba ...More...
14-08-2008 -
Desert Dream Real Estate & Investments, one of the fastest growing developers in the region, have officially launched Dream Harbour, a new AED 1.7 billion residential development at Waterfront, a community by master developer Nakheel. Dream Harbour ...More...
14-08-2008 -
Cracks are starting to show in Dubai's well-crafted and glitzy property-marketing machine.Flipping properties has reached such a feverish pace, driving up prices, that Dubai's Real Estate Regulatory Authority, or RERA, is looking at measures to ...More...
14-08-2008 -
Dubai-based Sternon Real Estate and Mumbai-based Garnet Construction said their NRI township ‘Magic Hills Residences' in Navi Mumbai will start construction works in October and complete the first phase in 18 months.
Hussaini F. Nalwalla ...More...
Hussaini F. Nalwalla ...More...
13-08-2008 -
Union Properties, one of Dubai’s largest developers, is exploring its legal options after Morgan Stanley issued a report last week that gave the company a negative rating and helped send its shares tumbling 15 per cent in a week.
Morgan ...More...
Morgan ...More...
13-08-2008 -
DUBAI -- Cracks are starting to show in Dubai's well-crafted and glitzy property-marketing machine.
Flipping properties has reached such a feverish pace, driving up prices, that Dubai's Real Estate Regulatory Authority, or RERA, is lo ...More...
Flipping properties has reached such a feverish pace, driving up prices, that Dubai's Real Estate Regulatory Authority, or RERA, is lo ...More...
13-08-2008 -
Dubai: Property developer Desert Dream will launch its latest project in Dubai Waterfront with a value of Dh1.7 billion.
Dream Harbour will be a 48-storey residential tower located on 67,850 square feet of land. The total built-up area will b ...More...
Dream Harbour will be a 48-storey residential tower located on 67,850 square feet of land. The total built-up area will b ...More...
13-08-2008 -
Dubai International Financial Centre may have had its share of ups and downs over the past five years. But the new Chatham House study establishes the emirate as the financial centre in the world most likely to ‘become significantly more important ...More...
13-08-2008 -
The UAE has jumped 23 places to notch the fourth position among the most-active land markets worldwide in the first half of 2008, as global sales reached $64 billion (Dh235bn) during the period, new data revealed yesterday.
China topped the l ...More...
China topped the l ...More...
13-08-2008 -
Gulf companies are channelling more of their investments into the construction of mega warehousing facilities, lured by the buoyancy in the region's logistics sector.
With the Middle East region positioning itself as a global logistics hu ...More...
With the Middle East region positioning itself as a global logistics hu ...More...
13-08-2008 -
Investors in the GCC have been investing in the conventional hedge fund market for a number of years. GCC institutions have, in terms of their own portfolio diversification, generally mirrored global investment thinking. Strong regional growth and the s ...More...
12-08-2008 -
Hydra Properties, the leading UAE-based international property developer, today said that it has fast tracked its prestigious Hydra Avenue Towers project, located at Al Reem Island in Abu Dhabi, by completing the foundation work for the project ahead of ...More...
12-08-2008 -
The Tiger Woods Dubai, a member of Tatweer and an exclusive 55-million sq. feet golf community development, today announced it will launch an exclusive sales suite on 17 August at the Westin Hotel in Dubai to cater to interested investors.
Th ...More...
Th ...More...
12-08-2008 -
Dubai: Investors in the Casa del Mar development in Dubai Marina have been told by the new owner, Al Mashraf Bank, that once completed, the project will be sold to new investors, rending the current contracts void.
The original owner of the d ...More...
The original owner of the d ...More...
12-08-2008 -
Residential units in Dubai will offer the most attractive returns in 2008, growing 37 per cent annually, which will be followed by commercial and retail space, according to a new study.
"We do expect continued buoyancy in prices across the bo ...More...
"We do expect continued buoyancy in prices across the bo ...More...
12-08-2008 -
Property owners in Dubai are likely to see a sharp rise in their building service fees with the introduction of home owners’ associations.
Some will see thousands of dirhams added to their annual fees when the new associations take resp ...More...
Some will see thousands of dirhams added to their annual fees when the new associations take resp ...More...
12-08-2008 -
ABU DHABI // Government intervention is needed to slow down frenetic speculation in the property market, the local chapter of the Royal Institution of Chartered Surveyors (Rics) reports.
The organisation found that as much as 80 per cent of p ...More...
The organisation found that as much as 80 per cent of p ...More...
12-08-2008 -
Dubai: Property developer, Azizi Investments plans to reach an estimated project value of Dh170 billion across all their developments by the end of 2010, with over 50 projects in the pipeline.
On the ambitious road to reach their goals, Azizi ...More...
On the ambitious road to reach their goals, Azizi ...More...
12-08-2008 -
The Dubai Financial Market plunged to a 10-month low yesterday following massive losses in real estate, banking and investments.
The 5,200-mark was supposed to provide strong support, but the DFM's General Index crashed through this withi ...More...
The 5,200-mark was supposed to provide strong support, but the DFM's General Index crashed through this withi ...More...
12-08-2008 -
If number plates, horses and camels can go under the hammer, why can’t plots, apartments and villas? In a happening market such as Dubai, high-net-worth individuals are increasingly willing to bid the highest for products of their choice – b ...More...
11-08-2008 -
Dubai stocks saw their sharpest drop in six months yesterday, as Abu Dhabi-based property developers slumped by up to seven per cent and foreign investors dumped portfolios across the region.
Falling oil prices, rising borrowing costs and fea ...More...
Falling oil prices, rising borrowing costs and fea ...More...
11-08-2008 -
Hill International, a world leader in managing risk pertaining to real estate, has bought PCI Group, LLC, a firm that deals with property-related claims, project management support, and software sales and support services throughout the western United S ...More...
11-08-2008 -
DUBAI // It is a city with numerous attractions to entertain visitors, but some tourists are seeking a view of Dubai unlike any other.
Tourist operators traditionally take visitors to a city’s finest locations. Dubai is no different, bu ...More...
Tourist operators traditionally take visitors to a city’s finest locations. Dubai is no different, bu ...More...
11-08-2008 -
Dubai Investments Real Estate Company (DIRC), the real estate arm of Dubai Investments (DI)Dubai Investments (DI)Dubai Investments
"DIRCDIRC has so far launched one project this year in Mirdiff Hills, which is a Dh2- billion mixed-use develop ...More...
"DIRCDIRC has so far launched one project this year in Mirdiff Hills, which is a Dh2- billion mixed-use develop ...More...
11-08-2008 -
The MAG Group property Development,a member of the Moafaq Al Gaddah (MAG) Group of Companies, which has 12 property projects worth Dh3b plans to grow its portfolio to Dh5b in the next two years. The company has achieved two milestones: the first is the ...More...
11-08-2008 -
DUBAI // Regional holding companies are increasingly turning to retail as a means of diversifying their portfolios and capitalising on the second-most prosperous non-oil sector after the property market.
Dubai Properties Group (DPG), a divisi ...More...
Dubai Properties Group (DPG), a divisi ...More...
11-08-2008 -
Commercial property transactions more than doubled in the UAE in the first half of this year, making it one of the fastest growing markets in the world at a time when sales collapsed elsewhere, according to a new report.
Real Capital Analytic ...More...
Real Capital Analytic ...More...
11-08-2008 -
Property players remain bullish about Dubai's real estate market despite reports of overheating and fears that oversupply in the mid-term could induce a downward trend.
Speaking to Emirates Business, property developers, brokers and contr ...More...
Speaking to Emirates Business, property developers, brokers and contr ...More...
11-08-2008 -
DUBAI - Dubai's burgeoning property market appears to be heading for a cooling-off period, after appearing a one-way bet for several years.
The authorities are looking into ways to stem rampant speculation, fearing an overheated market ma ...More...
The authorities are looking into ways to stem rampant speculation, fearing an overheated market ma ...More...
10-08-2008 -
Dubai: Property investors hope the new real estate court, designed specifically to deal with disputes, will help clear the few clouds over Dubai's real estate market when it begins operations in September.
Many people are looking to inves ...More...
Many people are looking to inves ...More...
10-08-2008 -
Dubai Investments Real Estate Company (DIRC), the real estate arm of Dubai Investments (DI), will roll out six new projects in Dubai by early 2009, a top company executive said.
"DIRC has so far launched one project this year in Mirdiff Hills ...More...
"DIRC has so far launched one project this year in Mirdiff Hills ...More...
10-08-2008 -
ABU DHABI // A retreat by international investors from emerging markets and tightening credit across the Gulf has punished regional property and financial stocks.
Banking and property shares tumbled last week, helping to drag broader indexes ...More...
Banking and property shares tumbled last week, helping to drag broader indexes ...More...
10-08-2008 -
A gang of Armenians have been arrested by police in Dubai after being found in their home with a total of $50,000 cash and other stolen property.
Police say the money was the proceeds of a crime spree dating back to May where the five men and ...More...
Police say the money was the proceeds of a crime spree dating back to May where the five men and ...More...
10-08-2008 -
Hydra Properties, a leading UAE-based international property developer, yesterday said its Hydra Avenue Towers project is ahead of schedule.
The project, located at Al Reem Island in Abu Dhabi, has completed the foundation work.
Dr ...More...
The project, located at Al Reem Island in Abu Dhabi, has completed the foundation work.
Dr ...More...
10-08-2008 -
The commission charged by real estate brokers for closing property deals has jumped by half from two to three per cent and could rise by more than double to five per cent next year, according to property agents in Dubai.
Brokers previously ch ...More...
Brokers previously ch ...More...
10-08-2008 -
The Roads and Transport Authority (RTA) has installed the first footbridge for Dubai Metro station users near Jebel Ali Industrial area on Sheikh Zayed Road. Each of the 47 metro stations will have pedestrian bridges either elevated or underground. One ...More...
10-08-2008 -
Nakheel, one of the world's largest real estate developers, has announced that live testing of the Palm Monorail will commence in October 2008. The Palm Monorail, to run in Palm Jumeirah, is the first monorail project to be constructed in the Middle ...More...
07-08-2008 -
Dubai: Real estate developer Dheeraj and East Coast (DEC) broke ground on Wednesday for its three Dh615 million projects located in the heart of Culture Village.
The projects, spread over an area of 60,981 square feet, include two residentia ...More...
The projects, spread over an area of 60,981 square feet, include two residentia ...More...
07-08-2008 -
Real estate developer Dheeraj and East Coast (DEC) broke ground for its three Dh615 million real estate projects located in the heart of Culture Village.
The properties covering an area of 60,981 square feet, include two residential developm ...More...
The properties covering an area of 60,981 square feet, include two residential developm ...More...
07-08-2008 -
Tamweel, the largest real estate finance provider in the UAE, is expecting that the revenues and net profit for 2008 to continue to grow in line with growth recorded in 2007. In the first half of 2008, Tamweel recorded net profits of Dh387.3 million; an ...More...
07-08-2008 -
Dubai will soon be home to the largest number of towers. Almost 3,000 buildings, both mid and high-rise are in various stages of development and construction in Dubai as real estate boom continues in the emirate.
Dubai World Central (DWC) wi ...More...
Dubai World Central (DWC) wi ...More...
07-08-2008 -
Emaar Properties, Dubai-based largest real estate developer in the world, will host an exclusive sale of 8 prestigious projects from its diverse portfolio on 08/08/08 to build on the appeal of the once in a lifetime date. The sales event will feature pr ...More...
07-08-2008 -
Dubai World Central (DWC), the 140 sq km urban real estate development in Jebel Ali, has announced to spend $33 billion on developing a substantial transport network to help the residents move freely around the 140-kilometre city-within-a-city. Grand Ce ...More...
07-08-2008 -
One of the most distinctive shopping centres in the world, Dubai's Wafi Mall is known for its opulent décor as well as its range of shops and restaurants. Shaped like an Egyptian pyramid, it has hieroglyphics that decorate the walls, while st ...More...
07-08-2008 -
ABU DHABI // The Middle East has overtaken the rest of the world to become the largest foreign property investor in North America this year, according to research from the US.
Multimillion-dollar deals like the Abu Dhabi Investment Council&rs ...More...
Multimillion-dollar deals like the Abu Dhabi Investment Council&rs ...More...
07-08-2008 -
Dubai: Property developer Aber Group announced on Wednesday that its current investments in the real estate sector have touched Dh1.5 billion.
The company’s investment portfolio includes freehold, villas, hotels, commercial tower, wareh ...More...
The company’s investment portfolio includes freehold, villas, hotels, commercial tower, wareh ...More...
07-08-2008 -
Villas and apartments nearing completion in Dubai are generating premiums of as much as 70 to 200 per cent a year, according to observers of the property market far higher than the 10 to 30 per cent annual premiums for completed properties. Adham Roshdy ...More...
06-08-2008 -
DUBAI - Property prices in Dubai are set to fall for the first time since 2002 as a flood of new housing units reaches the market, according to a forecast by Morgan Stanley. In a research note the global investment bank said, “In 2009 a predicted ...More...
06-08-2008 -
The Middle East's most prominent healthcare development, Dubai Healthcare City is edging closer to its completion date. Is the project in rude health, or starting to display worrying symptoms? MT reports.
For better or worse, the buzz is ...More...
For better or worse, the buzz is ...More...
06-08-2008 -
Water infrastructure company Septech Emirates plans to invest $150 million (Dh552m) in the region in the next 12 months, its CEO said yesterday.
The expansion programme will include three acquisitions, David Heffernan told Emirates Business i ...More...
The expansion programme will include three acquisitions, David Heffernan told Emirates Business i ...More...
06-08-2008 -
Damac Properties, one of the largest private master developers and luxury lifestyle providers, has awarded an Dhs10.72m enabling works contract to International Foundation Group for its Lincoln Park project (plots 12, 16 and 25) at Arjan.
IFG ...More...
IFG ...More...
06-08-2008 -
UAE. Azizi Investments, the Dubai-based multinational property developer, has today confirmed the purchase of over 667,000 square feet of land at Mina Rashid, the redevelopment of the old Port Rashid that is being master planned by Nakheel.
T ...More...
T ...More...
06-08-2008 -
UAE. As observed in the beginning of 2008, the slow down of residential rent increases in Dubai continued through the second quarter as well, according to property services company Asteco’s quarterly real estate report.
According to the ...More...
According to the ...More...
06-08-2008 -
With the start of the new term looming, universities are struggling to recruit quality staff due to high rents in the country.
Top-flight academics have turned down job offers over concerns that much of their salary would be spent on accommod ...More...
Top-flight academics have turned down job offers over concerns that much of their salary would be spent on accommod ...More...
06-08-2008 -
Dubai’s real estate regulator (Rera) has given Saudi developer Sokook until next Tuesday to explain why investors in its Ivory Tower project were told to stop payments, leading to the termination of contracts.
Hundreds of investors had ...More...
Hundreds of investors had ...More...
06-08-2008 -
The restrictions placed on buyer resales of Nakheel’s Trump International Hotel & Tower could be extended to future Nakheel launches, the Dubai developer revealed on Tuesday.
Investors at the recently-launched Trump International Ho ...More...
Investors at the recently-launched Trump International Ho ...More...
06-08-2008 -
A disqualified UK real estate company director now running a Dubai-based company after his old firm collapsed, loaned himself almost $1.9 million from company funds before it went into administration, official documents show.
The revelation i ...More...
The revelation i ...More...
06-08-2008 -
Dubai: Property prices in Dubai are likely to fall 10 per cent by 2010 as supply outpaces demand, but they are expected to rise in Abu Dhabi's undersupplied market, Morgan Stanley said in its latest report on Tuesday.
"For 2009, we expect ...More...
"For 2009, we expect ...More...
05-08-2008 -
Dubai: The Berlin City Centre, a Dh1.2 billion property development, will be launched in Dubailand on Wednesday.
German Realty Asset Management (GRAM) part of Premier Group of Companies has been responsible for sales and transaction managemen ...More...
German Realty Asset Management (GRAM) part of Premier Group of Companies has been responsible for sales and transaction managemen ...More...
05-08-2008 -
Balducci’s, a high-end food emporium and a New York icon, has partnered with Nakheel Retail to open several stores in the UAE and throughout the Middle East.
With a history in the Big Apple that dates back to its Greenwich Village flags ...More...
With a history in the Big Apple that dates back to its Greenwich Village flags ...More...
05-08-2008 -
Energy Management Services (EMS), the first company in the Middle East to provide energy management solutions, today announced it has qualified as a Green Building Sustainability (GBS) consultant for EHS, the Environmental Health and Safety regulatory a ...More...
05-08-2008 -
The real estate regulator of Dubai will take action against master developers and sub-developers if they fail to fulfil contractual obligations.
"A developer who feels a project has been held up due to delays in the handover of plots by the m ...More...
"A developer who feels a project has been held up due to delays in the handover of plots by the m ...More...
05-08-2008 -
AME Info (Abu Dhabi, United Arab Emirates) (KRT) Via Acquire Media NewsEdge) Aug. 4--UAE MARKETS END IN RED: The Dubai Financial Market fell by 0.30 percent, ending the day, Monday at 5,394.01. Debut from Takaful House did not help raise the arrows up a ...More...
05-08-2008 -
UAE. As observed in the beginning of 2008, the slow down of residential rent increases in Dubai continued through the second quarter as well, according to property services company Asteco’s quarterly real estate report.
According to the ...More...
According to the ...More...
05-08-2008 -
Will Rogers, the wise-cracking cowboy, once said: “Invest in inflation, it’s the only thing going up.” Had he lived to see the astronomic growth of property prices in Dubai (and also in Abu Dhabi) he may have offered alternative invest ...More...
05-08-2008 -
ABU DHABI // Buyers at the Trump International Hotel & Tower on Palm Jumeirah will have to wait a year before they can sell their apartments on the secondary market, Nakheel officials said yesterday. The decision to restrict buyers at the sought aft ...More...
05-08-2008 -
The key to making a successful investment in the property market is to treat the deal as a long-term investment, have patience, buy only quality products in strategic locations, and always go for a quality developer.
Not Kipp’s advice, ...More...
Not Kipp’s advice, ...More...
04-08-2008 -
Last summer I met my old friend Leslie Kent, a stock broker of considerable experience and a shareholder-director in JM Finn Capital Markets in London, for our now annual lunch. Then he accurately predicted that a United Kingdom recession and bear marke ...More...
04-08-2008 -
Dubai: Arabtec Construction currently has about 10,000 villas under construction, following a Dh1.6 billion letter of acceptance from Emaar-Bawadi Joint Venture to design and construct 1,437 villas as part of the Bawadi project in Dubailand.
...More...
...More...
04-08-2008 -
Arabtec Construction, the leader in UAE construction and real estate industry, has received Dh1.6 billion letter of acceptance from Emaar-Bawadi Joint Venture to design and construct 1,437 villas as part of the Bawadi real estate development in Dubailan ...More...
04-08-2008 -
Kensington Real Estate, Dubai-based realty developer, has revealed that 70% of its Kensington Crystal, $544 million worth property development in Dubai Maritime City, has been sold out. The remaining 30% of the developer's first UAE project will be ...More...
04-08-2008 -
Ask Oliver Schutzmann why investor relations (IR) is such a big deal for firms in the GCC, and you will not get a glum lecture on what might seem a dry subject. How companies communicate with their increasingly diverse base of shareholders, he says, lie ...More...
04-08-2008 -
Al Fara'a Properties, the flagship subsidiary of the Al Fara'a Construction, Industrial and Property Group, is looking at a sharp increase in the value of the projects it plans to launch.
"Al Fara'a Properties last year recorded s ...More...
"Al Fara'a Properties last year recorded s ...More...
04-08-2008 -
Dubai: Dubai's tenants and homeowners won't have to shell out large sums for safety and security as one could insure a home for as low as Dh190 for Dh50,000 coverage.
Affordable insurance in Dubai for tenants and homeowners alike is o ...More...
Affordable insurance in Dubai for tenants and homeowners alike is o ...More...
03-08-2008 -
Hamptons International, the leading one-stop property services company, has signed a valuations contract agreement with Al Hilal Bank, the Islamic banking institution wholly owned by the Abu Dhabi Investment Council.
Under the contract, Al Hi ...More...
Under the contract, Al Hi ...More...
03-08-2008 -
Many factors slow down the processing of mortgage applications in Dubai, says Chris Dommett, CEO of John Charcol Dubai. They include the complexity of the UAE mortgage market, the absence of a credit bureau and the lack of trained and qualified staff. ...More...
03-08-2008 -
DUBAI - The Dubai Police are going all out to nab motorists who ignore speed limits. There would be 513 fixed radars and 30 mobile radars monitoring Dubai roads by the end of this year, said Brigadier Mohammed Saif Al Zafin, Director of the General Depa ...More...
03-08-2008 -
Officials are planning to take ownership or control of significant historical, archaeological and heritage sites, with management orders if necessary, to preserve the emirate’s heritage.
The Abu Dhabi Authority for Culture and Heritage ...More...
The Abu Dhabi Authority for Culture and Heritage ...More...
03-08-2008 -
BridgeStreet Worldwide a leading global provider of serviced apartments, today announced it has signed a 10-year agreement with The First Group to manage five new properties in Dubai, United Arab Emirates (UAE).
This arrangement marks BridgeS ...More...
This arrangement marks BridgeS ...More...
03-08-2008 -
Rezidor launches its first UAE luxury apartments.
The Rezidor Hotel Group (Rezidor), one of the fastest growing hotel companies in the world, has opened the doors today to its latest initiative, the Radisson SAS Residence, Dubai Marina - the ...More...
The Rezidor Hotel Group (Rezidor), one of the fastest growing hotel companies in the world, has opened the doors today to its latest initiative, the Radisson SAS Residence, Dubai Marina - the ...More...
31-07-2008 -
Emaar Malls Group has finalized the opening date of its flagship retail realty, The Dubai Mall, as October 30, 2008. The Dubai Mall house various highly anticipated world-class attractions, hundreds of retailers and dedicated access from Sheikh Zayed Ro ...More...
31-07-2008 -
ALDAR Properties, a leading real estate development firm in the UAE announced that the company has clocked a net profit of Dh 2,602.7 in the second quarter of 2008.
Ronald Stephen Barrott, Chief Executive of ALDAR said: "Results for the first ...More...
Ronald Stephen Barrott, Chief Executive of ALDAR said: "Results for the first ...More...
31-07-2008 -
Ajman has close to Dh1.4 billion worth of infrastructure projects under construction to catch up with the rapid advancement various real estate developments have made in the UAE emirate. Ajman's real estate market is the third largest followed by Du ...More...
31-07-2008 -
Oil revenues constituted just 35 per cent of the UAE GDP in 2007, the remaining 65 per cent being contributed by the non-oil sector including real estate, construction and financial services. The UAE success story has been molded primarily by Dubai, whi ...More...
30-07-2008 -
Amlak Finance, an Islamic mortgage provider, said yesterday it has sold 235 apartments at SkyCourts, a freehold residential project.
The development covers an area of about 238,000 sqft, with studio-, one- and two-bedroom apartments. It is lo ...More...
The development covers an area of about 238,000 sqft, with studio-, one- and two-bedroom apartments. It is lo ...More...
30-07-2008 -
In just over four years, ACW Holdings has established itself as a leading property developer specialised in providing the United Arab Emirates real estate market with high-yield freehold investment opportunities across the residential, retail, serviced ...More...
30-07-2008 -
DUBAI — The volume of property sales in Dubai is poised to rise as more global investors, shifting their focus away from markets hit by credit crunch, seek to enter the Gulf markets, a leading global property investment expert said.
Dub ...More...
Dub ...More...
29-07-2008 -
A new research report from Al Mal Capital on Dubai-based Union Properties rates the real estate company at outperform. Robert McKinnon, Al Mal’s managing director noted that Union Properties remains their “top pick in the UAE real estate sec ...More...
29-07-2008 -
DUBAI Hundreds of investors in the long-delayed Ivory Tower residential project in Dubai have been told by the developer, Sokook Investment Group, that their contracts will be cancelled and 20 per cent of the sales price kept.
Investors were ...More...
Investors were ...More...
29-07-2008 -
Dubai is expected to move up the transparency ladder provided it introduces performance benchmarks and dispute resolution mechanisms, a property expert said yesterday.
It is expected to reach "Transparent Tier" (Tier Two) in 2010 from its cur ...More...
It is expected to reach "Transparent Tier" (Tier Two) in 2010 from its cur ...More...
28-07-2008 -
Luxurious city-centre resorts are proving to be a favorable choice among affluent travelers from the region, particularly for those who opt to beat the increasing traffic problems and who prefer the convenience of being minutes away from major attractio ...More...
28-07-2008 -
ABU DHABI “Luxury waterfront apartments ... 25 minutes from Dubai International Airport ... Dubai residence visa with ownership ...”
This was an advert for a development in Dubai that could be found on the internet yesterday, leav ...More...
This was an advert for a development in Dubai that could be found on the internet yesterday, leav ...More...
28-07-2008 -
DUBAI - Emaar Properties PJSC, the Middle East’s largest real-estate developer, wrote down Dh165 million ($45 million) related to its U.S. unit in the second quarter, Al Mal Capital PSC said, citing an analyst call.
Gross profit include ...More...
Gross profit include ...More...
27-07-2008 -
Credo Investments FZE has announced the completion of its Dhs405m maiden development project in the country, Le Solarium, which became the first commercial project to be completed and delivered at Dubai Silicon Oasis (DSO).
The work on the pr ...More...
The work on the pr ...More...
27-07-2008 -
Dubai Land Department is in the preliminary stages of establishing a unified real estate database which will cover the whole of the UAE.
The database will have all available data on real estate, land and properties as well as laws and legisla ...More...
The database will have all available data on real estate, land and properties as well as laws and legisla ...More...
27-07-2008 -
Dubai: UAE property - is it or isn't it a good investment? Will it continue to rise after the summer solstice? And the answer is - I don't know. Not knowing the answer is a massive blow to the credibility of portfolio planners.
Especi ...More...
Especi ...More...
24-07-2008 -
Dubai’s real estate market is underpinned by strong fundamentals. Demand is outstripping supply, and rental yields are high. According to Colliers International, property prices in freehold areas in Dubai rose by 42% during the first three months ...More...
24-07-2008 -
Property developer Limitless, which is owned by the Dubai Government, could face competition in the middle of intense negotiations to buy British developer Minerva for an estimated Dh1.9 billion (£260 million).
A spokesperson for Minerv ...More...
A spokesperson for Minerv ...More...
24-07-2008 -
Residential rents in Dubai rose 22 per cent year-on-year, but at a slower pace compared with the previous figure, said Asteco Property Management, a property services consultancy firm in the UAE. Residential buildings along Shaikh Zayed Road continue to ...More...
23-07-2008 -
The UAE home finance market is expected to double during the next four years to reach around Dh80 billion by 2012, says Kuwait's Global Investment House.
The market is at present worth between Dh35bn and 40bn, equal to five per cent of th ...More...
The market is at present worth between Dh35bn and 40bn, equal to five per cent of th ...More...
23-07-2008 -
Dubai property market has a long way to go, said Dubai-based property developer Harry Kantaria, allaying any fears that the market may be close to saturation.
Kantaria, chairman of Aspire Real Estate, who recently launched the Santorini devel ...More...
Kantaria, chairman of Aspire Real Estate, who recently launched the Santorini devel ...More...
23-07-2008 -
Khoie Properties, the real estate arm of the $2 billion UAE-based Khoie Group, was one of the early movers in the Ras Al Khaimah property development market when the company announced the Dh1bn La Hoya Bay in Al Marjan Island development.
In ...More...
In ...More...
20-07-2008 -
Is now the time for second home markets like Dubai to change the thrust of their marketing, and try to appeal to lifestyle buyers rather than pure investors? I ask the question because the largest research ever conducted into Britons who buy holiday hom ...More...
20-07-2008 -
Al Fara’a Properties, the flagship subsidiary of the Al Fara’a Construction, Industrial and Property Group, has announced the launch of the AED 1 billion ’Burj Al Fara’a’, a state-of-the-art commercial tower located in the ...More...
20-07-2008 -
Damac Properties - the luxury lifestyle provider and Middle East's largest private sector master developer is witnessing an overwhelming response for properties in Jumeirah Lake Towers.
Located in the heart of the city, Damac's two pr ...More...
Located in the heart of the city, Damac's two pr ...More...
17-07-2008 -
Dubai: House prices in Dubai are set to moderate in 2010, as supply and demand begin to strike a balance, according to industry analysts.
Robert McKinnon, managing director of Al Mal Capital Research, said: "Into next year we expect prices to ...More...
Robert McKinnon, managing director of Al Mal Capital Research, said: "Into next year we expect prices to ...More...
17-07-2008 -
Hydra Properties, a developer based in Abu Dhabi, is in talks with the New York-based property behemoth Trump Organisation to build a mixed-use residential and hotel tower on Reem Island, says Hydra’s chief executive.
Negotiations are o ...More...
Negotiations are o ...More...