News
Selected News
First Time in History almost a Decade Retail Rents in Dubai Collapse
01-07-2009 - The two major emirates of the UAE (Abu Dhabi and Dubai) first time in history that their retail rents collapse at least a decade in the 1st Quarter.
Dubai has 11% as their cost of leasing while 3.5% in Abu Dhabi in the first 3 months of this year as weigh against last year, according to the EU-27 Retail Rent Index conducted by CB Richard Ellis.
CBRE’s Senior Director for Retail and Industrial Property for MENA, Mark Morris-Jones, stated that, “this was the first reduction in rents in at least 10 years and reflected the decrease in retail sales caused by the global economic downturn”. In addition, “Demand is fuelled by their expectations of business and how they expect to do in terms of sales. And if their expectations, given the way the market is in the moment, is that they’re not going to do so well, they’re not going to have a demand for retail property. Rental rates remained higher in Dubai than in the Abu Dhabi, at Dh400 (US%$108.9) a sq.ft. in Dubai against Capital with Dh280 a sq.ft”.
Majid Al Ghurair, Chairman of the Dubai Shopping Malls Group, “Retail sales in Dubai have dropped between 20% and 25%”.
Craig Plumb, Jones Lang LaSalle MENA, Head of Research, “this, coupled with the amount of new retail space that has come on to the market in recent years, has made Dubai a tenant’s market. And that, What you are finding now is retailers have got a lot more choices, so it is good bargaining position for retailers”.
Research Firm, RNCOS, said, “Dubai is expected to have 4.25 million sq.m. of retail space by next year, up from 1.17 million sq.m. in 2006”.
For the past eight months there were 4 malls have opened in Dubai alone that includes the 1.12 million sq.m. Dubai Mall considered to be the world’s largest.
AT Kearney, stated, “Abu Dhabi has about 700,000 sq.m. of gross leaseable area, and plans to almost double that to 1.2 million sq.m. in the next two years”.
Morris-Jones, added, Abu Dhabi’s rents remain relatively stable because in a addition to tight supplies, retail sales have held up in the capital. There is not the amount of retail space, but more importantly, it is more stable market.
Meanwhile, “Dubai is very dependent on tourism and tourism has dropped off”.
Chief Executive of Cravia, owner of the local licenses for Roadster Diner and Cinnabon, Walid Hajj, “but retailers locked into leases have had little success in negotiating discount rates. I have asked for rent reductions at most of Cravia’s 35 outlets to compensate for slowing customer traffic but the rates have stayed the same. The payment was estimated between Dh400 and Dh1,400 sq.ft. dropping down by 11%, sounds good but didn’t think we’ve realized it”.
Other News
03-09-2010 -
Before the end of 2011, there will be having more than 50,000 units to be available in Dubai property market. For this reason, Joecef Betraoui, Managing Director of Land Sterling Property Consultants, gives an advice to all the property hunters to le ...More...
03-09-2010 -
Among the developments in Dubai, it is still the Dubai Marina project has been on the top list for both renters and buyers, for it is in which the rental and property prices are attractive and affordable as well.
Based on the survey, the f ...More...
Based on the survey, the f ...More...
03-09-2010 -
Since the booming of Real Estate Market in 2008, there have been a lot of branded residences being constructed in the emirate of Dubai particularly. They are as follows: Dusit Residence Marina, Jumeirah Living World Trade Centre Residences, Armani Bu ...More...
03-09-2010 -
By following the new Strata Laws, the residents of different community projects in the UAE, such as the Discovery Gardens in Dubai, have already contacted a company to manage the maintenance of their properties.
In particular, the issue re ...More...
In particular, the issue re ...More...
03-09-2010 -
5 per cent Housing Fee is just applicable to occupants of Residential properties in Dubai, either leased or owned by the residents. But the UAE Nationals are being exempted for this housing fee system.
The said system is connected with an ...More...
The said system is connected with an ...More...
02-09-2010 -
One month to go, the new five-star hotel, Ibn Batutta Gate Hotel, will be opened on the 1st day of October 2010. It features 396 guestrooms and suites, and also 156 residential apartments furnished with the Moroccan Theme inspired by the travels of ...More...
02-09-2010 -
Dubai International Financial Centre, one of Sheikh Mohammad Bin Rashid Al Maktoum's visions to improve the economic development of Dubai, is so far diminishing the rents and at the same time offering some incentives to its clients.
I ...More...
I ...More...
02-09-2010 -
As the residential property has been considered as the best investment since the booming market in 2008, the commercial property, on the other hand, is now turning to be much better investment in the property market.
Based on several ...More...
Based on several ...More...
02-09-2010 -
Dubai Multi Commodities Centre (DMCC) is the owner of Dubai Gold and Commodities Exchange, and developed almost 87 buildings in the Jumeirah Lakes Towers project. In the first place, it disagreed with the latest assessment issued by Global Credit R ...More...
01-09-2010 -
The positive outcome of Real Estate Recovery Scheme implemented by a leading real estate agency in Dubai, Smith and Ken, was announced by CEO Benjamin J. Smith himself.
During the first week launching of its scheme, there has been almost ...More...
During the first week launching of its scheme, there has been almost ...More...
01-09-2010 -
Despite of the fact that the economic downturn continues bothering the global market, the Hotel Hospitality Industry is so far emerging gradually from the nightmare caused by such phenomenal crisis. For this reason, one of the hotel and resort ...More...
01-09-2010 -
The investors of 'The Villa' project worth of AED599 million, a joint project of two developers, Al Mazaya and Dubai Properties, are not satisfied with the results; for it has been delayed and has poor quality of construction.
Th ...More...
Th ...More...
31-08-2010 -
There are a large number of new hotels to open in the Middle East. Some of them will be opened this year and onwards.
Based on the report from Lodging Econometrics, there are 59 hotels with a total of 15,558 rooms to open this year, 76 ...More...
Based on the report from Lodging Econometrics, there are 59 hotels with a total of 15,558 rooms to open this year, 76 ...More...
31-08-2010 -
Dubai World, one of the state-conglomerates, is starting to tackle with its non-core creditors, not part of the seven-member coordinating committee, regarding the restructuring plan it proposed which is supposedly to be approved before or on November ...More...
31-08-2010 -
The property unit of Dubai World, Nakheel, has a total bank debt of $ 10.9 billion, $5.1 billion of trade creditors' claims, and $ 9.2 billion of customer liabilities.
As part of the state-owned conglomerate, the government of Dubai ...More...
As part of the state-owned conglomerate, the government of Dubai ...More...
31-08-2010 -
Emaar Properties, the main developer of the tallest building in the world, Burj Khalifa, incurred a loss of AED 38.5 million from sales transaction of its property, Hamptons International Subsidiary in UK real estate agency.
...More...
...More...
30-08-2010 -
After the first six months of 2010, the Hotel Industry in the Middle East and North Africa (MENA) region got the highest record in terms of Average Daily Rate (AVR) with $ 201 and also $125 for Revenue per Available Rooms (revpar).
So ...More...
So ...More...
30-08-2010 -
Some of the property owners said that the new Strata Law implemented 3 months ago, which is to give the homeowners a right to control the building maintenance, never has a sufficient transparency occurred so far.
By registering the owner& ...More...
By registering the owner& ...More...
30-08-2010 -
Real Estate Regulatory Agency (RERA) has given Emaar Community Management an authority and license to offer its services to all involved owner's associations.
At present, the company is liable administratively, financially, technical ...More...
At present, the company is liable administratively, financially, technical ...More...
30-08-2010 -
A few days ago, Dubai World's shares in the market rose to the highest level of progress, and together with a firm conviction that it is going to finish the debt-restructuring issues soon or later.
Based on the DFM Index, it clim ...More...
Based on the DFM Index, it clim ...More...
29-08-2010 -
Dubai World Holding, controlled by the government administration, also has a plan to sell some of its assets such as the DP World, Jebel Ali Free Zone, and Dubai Maritime City (DMC) because of its billions of debts from bank creditors.
Act ...More...
Act ...More...
29-08-2010 -
Some developers in Dubai are now completing at least 40 per cent of their delayed projects in order for them to raise funds and let them issue default notices to their buyers who did not pay their installments regularly.
Conditionally ...More...
Conditionally ...More...
29-08-2010 -
According to Khalid Bin Kalban, Chairman of Union Properties PJSC, he said that the company has already agreed with the proposal between the two parties to sell its one of the assets, Ritz-Carlton Hotel, with requested discount of the purchaser ...More...
29-08-2010 -
Waitrose, an up-market British Supermarket located in Building1 on the retail promenade of the prestigious Golden Mile on the Palm Jumeirah, will be opened soon by next year 2011.
In addition, the Golden Mile is going to include the f ...More...
In addition, the Golden Mile is going to include the f ...More...
27-08-2010 -
Damac Properties, a largest property developer in Dubai, doesn't have any new projects but rather just focuses on their existing projects in the Middle East and North Africa (MENA) to be completed as soon as possible.
Ziad Elchar, Gene ...More...
Ziad Elchar, Gene ...More...
27-08-2010 -
Damac Properties, a leading freehold real estate and a member of Dubai-based Damac Group, has just launched a new website for the company with an objective to let easily its clients looking for a property find the right one, in which they can invest ...More...
27-08-2010 -
The Emirate of Dubai has a lot of luxurious and attractive properties by which many tourists and foreign investors are coming just either to appreciate the beauty of Dubai properties or rather spend their money to make investments.
Rental ...More...
Rental ...More...
27-08-2010 -
Dubai World Holding, the state-owned conglomerate, is possibly about to sell some of its assets such as the DP World, Atlantis The Palm, MGM Resorts International and Luxury Retailer Barneys New York; for it needs to have funds at least AED 71.25 b ...More...
27-08-2010 -
Both the developers and Real Estate Regulatory Agency (RERA) are under pressure to finish the processing of documentation and registration for owner's associations, which is supposedly to be finished in the month of October 2010.
Howev ...More...
Howev ...More...
26-08-2010 -
National Bonds Corporation has a plan to expand its portfolio outside the country and be apart from the real estate investments. The company owns one property worth of AED 1.5 billion at Skycourts in Dubailand, which was already turned over to new ...More...
26-08-2010 -
Nakheel, Real Estate Developer of Dubai World, has been in the process of restructuring its billions of debts from creditors, but has already repaid AED 2.5 billion to its contractors, out of a total amount owed: AED 4 billion.
Ali Rashid ...More...
Ali Rashid ...More...
26-08-2010 -
Most of developers in the UAE have already started paying their outstanding dues to contractors that entailed a positive inclination of real estate-gradual recovery inline with construction sector.
According to Managing Director of Shaikha ...More...
According to Managing Director of Shaikha ...More...
26-08-2010 -
There are more available properties in some areas of the emirate of Dubai, in which the investors could purchase or rent a property as long as its location is attractive and the rental or property prices are at the lower rates as well.
Si ...More...
Si ...More...
25-08-2010 -
Some unit-owners in Goldcrest Views1, one of the properties located at the Jumeirah Lakes Towers, have been waiting for the so-called 'Title of Deeds' since 2008.
One owner testified that so far he received only the Ownership Agree ...More...
One owner testified that so far he received only the Ownership Agree ...More...
25-08-2010 -
Deyaar Properties, a second largest developer by market value, is going to give up the construction of the residential project, Flamingo Creek, worth of AED 372 million.
Actually all the transactions regarding the project have been cancell ...More...
Actually all the transactions regarding the project have been cancell ...More...
25-08-2010 -
There are many sectors in the UAE market that have been affected by the economic downturn, but, as being claimed, the real estate sector itself is being considered as the first one to recover from the so-called 'crisis'.
Ali Rash ...More...
Ali Rash ...More...
25-08-2010 -
Some developers are trying to finish all their projects as soon as possible with the consistent cooperation of contractors as the local market starts to gain momentum at this time.
According to the statement given by Shaikhani Contracti ...More...
According to the statement given by Shaikhani Contracti ...More...
24-08-2010 -
Landmark Properties, one of the largest property brokerage agencies throughout the Middle East, has appointed Christiane Murray as a new Head of Property Management of the company. She has had almost 12-year experiences in the Middle East Market.
...More...
...More...
24-08-2010 -
The Chairman of Nakheel Real Estate Developer, Ali Rashid Lootah, said that the company is about to finalize the agreement with its creditors and could start issuing bonds before the end of this year 2010.
He added that the company will ...More...
He added that the company will ...More...
24-08-2010 -
The property unit of Dubai World, Nakheel, paid its sukuk bond on time yesterday. It paid almost AED 3.6 billion. Hence, it gave a positive impact that might result confidence in overall restructuring proposal for company's billion of debts.
...More...
...More...
24-08-2010 -
Based on the survey, immediately when the global economic crisis hit the UAE market, most of the residents didn't have their own homes or properties; for there were only 89 per cent of respondents that said they didn't own any properties in ...More...
23-08-2010 -
According to Ali Rashid Lootah, he said that it is the real estate sector among all the sectors in the UAE market to recover first from the downturn that almost bothered not only the UAE market but the global market as well.
In addition, ...More...
In addition, ...More...
23-08-2010 -
The property unit of Dubai World, Nakheel, has already repaid AED 2.5 billion out of its AED 4 billion owned from its trade creditors. Thus, there is a positive inclination that its restructuring proposal will be accepted by bank creditors.
< ...More...
< ...More...
23-08-2010 -
Palm Jumeirah, one of the iconic projects in the emirate of Dubai, becomes an example of luxury market's downturn in the UAE; for property prices have reduced almost between 40 and 70 per cent since the peak in 2008.
Two years ago, th ...More...
Two years ago, th ...More...
23-08-2010 -
Investors are mostly seeking for properties either with a quality of living or a sense of community. These are actually the reasons behind the success of sales transactions in the property market between the year 2007 and 2008.
Better H ...More...
Better H ...More...
20-08-2010 -
According to the latest analysis from Real Estate Consultants Colliers International, there was almost 9 per cent drop occurred in residential property prices, and 48 per cent on a year-on-year basis.
Actually, the main reasons of 9 per ce ...More...
Actually, the main reasons of 9 per ce ...More...
20-08-2010 -
The new Strata Law causes burden to all homeowners because of giving them rights for their own properties, but on the contrary, some of them cannot handle the day-to-day maintenance of the properties, which is the previous responsibility of develop ...More...
20-08-2010 -
Selecting an attractive location for commercial property results good returns in some ways; there will possibly have a lot of opportunities rather than the residential property.
As long as the vacancy rates for commercial property are g ...More...
As long as the vacancy rates for commercial property are g ...More...
19-08-2010 -
According to Better Homes, a largest Real Estate Brokerage, it affirmed that not only the residential property can offer investors with good rental returns but the commercial property as well.
Porush Jhunjhunwala, Head of Commercial Sa ...More...
Porush Jhunjhunwala, Head of Commercial Sa ...More...
19-08-2010 -
The developer of Dubai's Victory Heights said that the phase-one of the project has been completed and almost its two-thirds of villas have been already handed over to homeowners. The project type is being called as a 961-unit golfing residenti ...More...
19-08-2010 -
There are a lot of investors waiting for the promise, which is a rental income, made and guaranteed by developers during the time of property boom in the mid-2008.
Dubai Guernsey Property Investments Limited, for instance, is one of thos ...More...
Dubai Guernsey Property Investments Limited, for instance, is one of thos ...More...
19-08-2010 -
The property unit of Dubai World, Nakheel, is planning to continue the construction of its six projects two months from now after settling down all the outstanding bills with its contractors that already started receiving payments from developer a ...More...
18-08-2010 -
Because of having a lot of attractive and unique infrastructure-facilities and being a business-friendly, the emirate of Dubai will constantly continue to offer ideal investment opportunities to all investors.
According to Rizwan Sajan, C ...More...
According to Rizwan Sajan, C ...More...
18-08-2010 -
The Flamingo Creek project is presently on the stage of whether to be continued its construction or not all. Deyaar Development, a property developer, is planning to give up the construction of the project because Sama Dubai, a master developer, seem ...More...
18-08-2010 -
The Golden Mile project is located on the man-made islands, Palm Jumeirah. There are already six brands going to take a retail space of 36,000 square meters for both residential and commercial development.
The said brands are as follo ...More...
The said brands are as follo ...More...
18-08-2010 -
One of the properties of Emaar, Hamptons Group Ltd with exclusive operations in the following countries such as Europe, UK, and Asia to countrywide Pk, which is located in Emaar Square itself, was sold to unknown buyer or investor for o ...More...
17-08-2010 -
The newly Corp Executive Hotel Apartments-Al Barsha becomes one of the venues of some UAE residents who are celebrating this Holy Month of Ramadan and at the same time experiencing the traditional Arabic custom during Iftar.
It is actua ...More...
It is actua ...More...
17-08-2010 -
Lacking of brands is among the main reasons of both the contractors and home-buildings companies.
According to Thunyawat Chaitrakulchai, a strategic marketer, he said that having a company name is absolutely different from having a brand ...More...
According to Thunyawat Chaitrakulchai, a strategic marketer, he said that having a company name is absolutely different from having a brand ...More...
17-08-2010 -
The International City is in which some of the investors no longer have interests to make an investment in the project regardless of the fact that the property or rental prices were also at the lower rates.
Actually one of the main reas ...More...
Actually one of the main reas ...More...
17-08-2010 -
As the lease rates in the central business district of the emirate of Dubai reduced almost 17 per cent in the Q2 of the year 2010, one of Emaar Group's properties was sold to anonymous investor.
The said commercial building is located ...More...
The said commercial building is located ...More...
16-08-2010 -
Based on Dubai Market view for Q2 2010 from CB Richard Ellis, the rates for residential lease showed the stabilization but only in a short-term, and not the same with the previous quarter.
According to Matthew Green, Head of Researc ...More...
According to Matthew Green, Head of Researc ...More...
Lack of transparency and cancellation issues considered as reasons behind 9 per cent drop in Q2 2010
16-08-2010 -
According to the latest analysis from real estate Consultants Colliers International, the residential property prices in the emirate of Dubai decreased almost 9 per cent in the second quarter of the year. But on a year-on-year basis, the residential ...More...
16-08-2010 -
The Homeowners Associations under by the Strata Law being implemented by the government are requesting to reduce at least 15 per cent of their maintenance fees that they are paying for.
Hence, there will be having elections for all assoc ...More...
Hence, there will be having elections for all assoc ...More...
15-08-2010 -
Deyaar Development, a second largest project developer in Dubai, experienced an increased net loss of AED243 million for the second quarter that ended on July 30, 2010 against the net loss of AED 76.4 million last year.
Regarding its reven ...More...
Regarding its reven ...More...
15-08-2010 -
According to consolidated results, it was reportedly shown that the Emaar MGF Land, an Indian developer and a joint-venture between Indian lender and Properties has gained an increased net profit of almost AED 40.88 million for one year itself, ...More...
15-08-2010 -
The launching of the first testing green building methods and materials has been announced by the Municipality of Dubai.
According to Hawa Abdullah Bastaki, Director of Dubai Central Laboratory Department, she said that the objective o ...More...
According to Hawa Abdullah Bastaki, Director of Dubai Central Laboratory Department, she said that the objective o ...More...
15-08-2010 -
The leading property investment developer, Union Properties, experienced a net loss of more than AED 299 million just for the first half of this current year, which is bigger than the previous net loss of AED 198 million in 2009; and then in terms of ...More...
13-08-2010 -
The Green Globe Certification was awarded to Dubai's Radisson Blu Hotel by Farnek Avireal because of investing more than $ 340,312 in sustainable initiatives such as the replacing of inefficient and high-power consuming air co ...More...
13-08-2010 -
The luxurious Fraser Suites property is now operating in the emirate of Dubai with commercial office suites and high-end retail outlets.
It is actually located along the Sheikh Zayed Road, viewing the tallest building in the world, Burj ...More...
It is actually located along the Sheikh Zayed Road, viewing the tallest building in the world, Burj ...More...
13-08-2010 -
The property owners in International City are offering 15 per cent discounts for studio and one-bedroom apartments, a lower price than the original one during the launching of the project.
In comparison, studio was sold before for ...More...
In comparison, studio was sold before for ...More...
13-08-2010 -
Two years ago, real estate sector witnessed the booming market in the UAE but now it is also the time for Dubai's Hotel Industry witnessing the booming market during this summer season. It increased to 15 per cent because of some events bei ...More...
If there are more supplies to come unceasingly into the market, the price will be less automatically
13-08-2010 -
The man-made island, Palm Jumeirah, has so far experienced more reduction in the property prices by almost 40 per cent. During the peak season of the market in 2007 and mid-2008, the selling price for apartment was about AED 2,300 per square foot, bu ...More...
12-08-2010 -
In the first quarter of 2011, Damac Properties is planning to hand over its seven projects with total of 3,900 residential, retail, and commercial units available now in the emirate of Dubai.
According to Ziad El Chaar, General Manager ...More...
According to Ziad El Chaar, General Manager ...More...
12-08-2010 -
There is an argument between the lawyers and some government officials regarding the right of Dubai Land Department whether it has an authority to cancel building contracts and seize properties from investors who are not regularly paying th ...More...
12-08-2010 -
Some of master developers of different projects in Dubai are being asked by Real Estate Regulatory Agency (RERA) why their projects are not yet started and what are the reasons behind.
According to Marwan Bin Ghalita, Chief Executive Offi ...More...
According to Marwan Bin Ghalita, Chief Executive Offi ...More...
12-08-2010 -
There are approximately 4, 387 houses being inspected in the emirate of Dubai violating both the building and construction codes in the first half of this year 2010.
The said inspection headed by Omar Abdul Rahman of Dubai Municipality B ...More...
The said inspection headed by Omar Abdul Rahman of Dubai Municipality B ...More...
12-08-2010 -
The Real Estate Sector in the UAE has new laws implemented that will help improve the protection for all home buyers, investors, landlords, and will increase more the role of Dubai Land Department as a Mediator for property arguments.
The ...More...
The ...More...
11-08-2010 -
As they say, Galumphing is once again coming back in the UAE, especially in the Real Estate Industry. It is being defined as it is in which the property owner doesn't follow the standard of real estate agreement between the two-parties.
< ...More...
< ...More...
11-08-2010 -
The Emaar Properties, a Dubai-based Real Estate Company and at the same time the builder of the tallest building in the world, Burj Khalifa, gained almost 122 per cent growth just in terms of net profits in the first half of the year, compared ...More...
11-08-2010 -
As the Ramadan is approaching, the Taj Palace Hotel Dubai is offering a low rate for its deluxe room with only AED 475, and from AED 790 to AED 1090 for two and three-bedroom apartments 'till the 19th day of September 2010.
Th ...More...
Th ...More...
11-08-2010 -
The municipality of Dubai is imposing all the residents to still pay 5 per cent even if their apartments are empty. As long as the apartment, both freehold and non-freehold, is connected with DEWA, the owner is obliged to pay the said housing fee: ...More...
10-08-2010 -
Al Furjan Project, one of Nakheel's six projects, is not yet restarted by its main contractor, Arabtec; for its time-line for completion is still being reviewed at the moment.
The said project is being prioritized by Nakheel t ...More...
The said project is being prioritized by Nakheel t ...More...
10-08-2010 -
Based on the latest real estate report from Landmark Advisory, oversupply of residential properties will continue to increase until the year of 2012 with a vacancy rate of between 25 per cent and 28 per cent as predicted.
In the sec ...More...
In the sec ...More...
10-08-2010 -
According to Real Estate Regulatory Agency (RERA) Rental Index, the housing fee will be affected if the residents don't register their tenancy contract to the Municipality of Dubai.
Abdullah Hashim, the Head of the Municip ...More...
Abdullah Hashim, the Head of the Municip ...More...
09-08-2010 -
A month ago, the Kliendienst Group reportedly announced that it would begin its construction of 20 villas on the Germany Island, one of the man-made Dubai World's islands. It is by the cooperation of the City Diamond Contracting being appointed t ...More...
09-08-2010 -
Since 2008 the residential units in Dubai, there has been 35 per cent decrease occurred because of more supplies coming into the market but less in demand.
According to the report, there will be having a further decline to happen in the s ...More...
According to the report, there will be having a further decline to happen in the s ...More...
09-08-2010 -
Arabtec, one of the most renowned developers in the UAE, has experienced 40 per cent decrease in its net profit in the second quarter of the year, that is, AED 111.1 million, compared to AED 183. 9 million in the same period last 2009.
...More...
...More...
09-08-2010 -
Based on the updated Rental Index from Dubai Property Regulator, there was a huge decline in rents in some of the classy areas in the emirate of Dubai from March to July 2010.
Both residential and commercial areas are in which the said ...More...
Both residential and commercial areas are in which the said ...More...
08-08-2010 -
Dubai Silicon Oasis has an increase in its new investments and lease of properties that caused it to earn almost 148 per cent increase in revenue just for the first half of this year 2010, compared to the same period a year ago, and also in line wi ...More...
08-08-2010 -
Shoroof Mirdiff, one of Dubai Properties Group's community-projects, has almost 400 one-bedroom apartments which are now available for lease with a total average of 1,000 square ft. It is located nearby the Rashidiya Metro Station and Dubai Int ...More...
08-08-2010 -
In terms of renting properties, some of developers are trying to make any strategies just to attract those property investors, such as by offering guaranteed rentals, free maintenance, and different freebies.
Vakson Real Estate, for insta ...More...
Vakson Real Estate, for insta ...More...
07-08-2010 -
As an economic hub of tourism, investment, and trading, Dubai has been the prominent destination of tourists, investors, and businessmen.
Sherif Madkour, General Manager of Centro Barsha by Rotana, said that the hotel rates are presently a ...More...
Sherif Madkour, General Manager of Centro Barsha by Rotana, said that the hotel rates are presently a ...More...
07-08-2010 -
During the Summer Surprises in Dubai, there was almost 15 per cent increase occurred in the hotel occupancy rates, for there were a lot of individuals participating in the said event being held from June 17 until today, which is the last day itself.< ...More...
07-08-2010 -
There is one developer based in Dubai making buildings exclusively for bachelors. It would be the first legitimate shared-accommodation for them with a legal permission from the government of Dubai.
Al Khail Gate, owned by Dubai Properties ...More...
Al Khail Gate, owned by Dubai Properties ...More...
06-08-2010 -
The new properties unceasingly entering into Dubai market make also a pressure to the property prices, for it will automatically reduce the prices of both residential and commercial properties. They are affecting them consequently.
Base ...More...
Base ...More...
06-08-2010 -
Accounting techniques have been so far used by some of the companies in the UAE in order to secure and disclose their investments in the market that can allow them to delay the impact of declining the property prices on their financial statem ...More...
05-08-2010 -
The Land Department of Dubai accredited the Emirates Islamic Bank to be a bank lender for financing those projects which are under the so-called 'Tayseer Scheme' guaranteed by the government and with the support of Real Estate Regulatory Agen ...More...
05-08-2010 -
There have been a lot of improvements, changes, and modifications happened in Dubai property market in terms of selling and renting apartments since the third quarter of 2008 and first quarter of 2009 began.
Now, in line with Dubai proper ...More...
Now, in line with Dubai proper ...More...
05-08-2010 -
The oversupply of both residential and commercial properties in Dubai will lead to thousands of vacancy to be recorded in the market within 3 to 4 years and to rent declines, for the first one will be up to 28 per cent vacancies as predicted an ...More...
04-08-2010 -
It would be the Austrian developer to be the first one to construct buildings in the controversial map-shaped islands called as 'The Dubai World'.
According to Kleindienst, CEO of family-owned Kleindienst Group, he said that anal ...More...
According to Kleindienst, CEO of family-owned Kleindienst Group, he said that anal ...More...
04-08-2010 -
There is an increase of 6.99 per cent for villa index between the second quarter of 2009 and 2010.
Ahmad Kayhan, CEO of Reidin.com which is covering the emerging markets, said that the reduction occurred in the last two-previous months is ...More...
Ahmad Kayhan, CEO of Reidin.com which is covering the emerging markets, said that the reduction occurred in the last two-previous months is ...More...
04-08-2010 -
StayWell Hospitality Group is planning to open its first hotel property in the Middle East, that is, the Park Regis Kris Inn Hotel with 392 rooms.
It is being planned to be opened by the month of October 2010. In fact, it has almost 2 ...More...
It is being planned to be opened by the month of October 2010. In fact, it has almost 2 ...More...
03-08-2010 -
Based on the report from Colliers International, the property prices in the real estate reduced with 4 per cent since the first quarter of this year 2010, but if compared to the same period last year 2009, it grew almost 7 per cent.
Moreov ...More...
Moreov ...More...
03-08-2010 -
The Average Daily Rate (ADR) and Revenue per Available Room (revPAR) in the Middle East and North Africa (MENA) region continually increased with 2.1 per cent to $89.75 per cent for ADR and also 1.3 per cent to $144.35 for revPAR in terms of pe ...More...
03-08-2010 -
Based on Dubai Chamber of Commerce and Industry, United Arab Emirates has been still the largest construction market throughout the GCC with a value of $ 714.8 billion, and being followed by the Kingdom of Saudi Arabia with $ 283.8 billion worth of ...More...
03-08-2010 -
Tamer Holding Tower, following the height level of Burj Khalifa, still needs more meters in order to reach the tallest tower in the world, which will be located in the Sheikh Zayed Road. It has 125 floors with almost 700 meters high.
So ...More...
So ...More...
02-08-2010 -
The property prices in the emirate of Dubai reduced 4 per cent, compared to the second quarter of the year. But villa properties have the higher transactions than apartments and townhouses.
According to Ian Gilbert, he said that there will ...More...
According to Ian Gilbert, he said that there will ...More...
02-08-2010 -
Peter French was being appointed by Raffles Dubai Hotel as a new General Manager. In fact, he has had more than 40-year experiences in the field of international luxury hospitality. Now he has a responsibility to pursue the good reputation of the ...More...
02-08-2010 -
Foreign investors who are mostly spending their money for real estate investments need to be protected in order to have more confidence in the property market in particular.
In the first place, what can really protect them is the civil ...More...
In the first place, what can really protect them is the civil ...More...
01-08-2010 -
Schon Properties continues the construction of its Dubai Lagoon project and concurrently revises its payment plan for its investors.
Along the process, the company walks with the support of Real Estate Regulatory Agency (RERA) that ...More...
Along the process, the company walks with the support of Real Estate Regulatory Agency (RERA) that ...More...
01-08-2010 -
The downturn of property prices and the continuous increase of quality spaces of properties coming into the market give both positive results and negatives ones in some ways. It still makes Dubai as the business hub in the world.
Two ...More...
Two ...More...
01-08-2010 -
Based on the prediction from Dubai-based Real Estate Consultancy Firm, the real estate sector will probably continue to face the challenges of economic downturn because of the current over-supply of properties in Dubai market.
The tru ...More...
The tru ...More...
01-08-2010 -
Dubai Investment, the largest investment company in the UAE, gained almost AED 474 million net profit in the first quarter of the year together with the total income of AED 1.67 billion.
Khalid Bin Kalban, Managing Director of DI, said ...More...
Khalid Bin Kalban, Managing Director of DI, said ...More...
01-08-2010 -
Due to increased-tenants movements, the Landlords are planning to make a greater security provision regarding the rental agreements between the two parties.
Matthew Green, Head of Research of CBRE Middle East, said that as long as there a ...More...
Matthew Green, Head of Research of CBRE Middle East, said that as long as there a ...More...
31-07-2010 -
The rental rates are constantly reducing in the two emirates: Dubai and Abu Dhabi. Both commercial and residential properties have been affected since the peak market in 2008.
According to Property Consultants CB Richard Ellis, it said ...More...
According to Property Consultants CB Richard Ellis, it said ...More...
31-07-2010 -
Although there has been a global economic crisis, Dubai Marina, a project of Emaar Properties, is still one of the most chosen locations of both foreign investors or tourists either to buy or rent a property therein, in which they can make an investm ...More...
30-07-2010 -
Due to unceasing reduction of rental rates in Dubai, many investors and residents in the UAE are making property investments, for they know that it is the right time for them to have a profitable investment because of affordable rental rates in the ...More...
30-07-2010 -
An over-supply of properties in Dubai entails a further reduction in rental rates, by which some of the residents from other neighboring emirates are moving into it.
Elaine Jones, Chief Executive of Asteco which is one of the ...More...
Elaine Jones, Chief Executive of Asteco which is one of the ...More...
29-07-2010 -
Compensation needs to be paid by developers if ever they fail to complete the projects on time but some of them are not willing to pay for it.
As a matter of fact, compensation only comes when the project is not finished at all at the g ...More...
As a matter of fact, compensation only comes when the project is not finished at all at the g ...More...
29-07-2010 -
Despite of economic crisis, there are still a large number of tourists, investors, and foreign individuals who are planning to have a residence visa, coming into the emirate of Dubai. For this reason, the demand of rental property is so far inc ...More...
29-07-2010 -
The construction of Phase One of Victory Heights with a large number of luxurious villas is near to completion which is scheduled to be delivered at the end of this year 2010.
For six months, the above-mentioned community has already so ...More...
For six months, the above-mentioned community has already so ...More...
29-07-2010 -
As the supply of properties continues to come into Dubai market, it would be a great benefit and advantage for all the tenants living in the emirate, for there was almost 4 to 8 per cent reduction in rent occurred in the market.
According ...More...
According ...More...
29-07-2010 -
Speaking of construction sector in Dubai, it is expectedly to recover gradually by next year, for there are already a lot of projects being awarded and recorded in the market this year 2010.
Based on the study from Dubai Chamber of Commer ...More...
Based on the study from Dubai Chamber of Commer ...More...
28-07-2010 -
The property developer of Dubai World, Nakheel, made an agreement to repay its bank debts after five years and also the outstanding $ 1.85 billion Islamic Loan which will be repaid after seven years as well.
The bankers have been so far gi ...More...
The bankers have been so far gi ...More...
28-07-2010 -
Shiekh Mohamed Bin Rashid Al Maktoum, Prime Minister and Vice-President of United Arab Emirates, said a few days ago that the emirate will continue what it has already started; in a sense that it will pursue all those billions of dollars worth of p ...More...
28-07-2010 -
The i-Rise Tower which is one of the largest office towers in the United Arab Emirates will be completed on November 29, 2010.
This commercial property, a 36-storey office, is a project of Realty Capital and located in TECOM site-C, ...More...
This commercial property, a 36-storey office, is a project of Realty Capital and located in TECOM site-C, ...More...
28-07-2010 -
There is one group of companies in Dubai, that is, Shaikhani Group. It has a plan to transfer its headquarters to another office in the emirate. The group is an international business conglomerate with specific interests in the following such as ...More...
27-07-2010 -
Strata Law was implemented in order to let the homeowners to have an authority to choose which company they want to give them good management services. So the developers need to hand-over the responsibility to Homeowners Association, representing all ...More...
27-07-2010 -
Swiss-Belhotel International signed a new management agreement for the Swiss-Inn Al Khorry which is located in Al Bada nearby the Dubai International Airport, World Trade Center, Iranian Hospital, and Dubai International Convention and Exhibi ...More...
27-07-2010 -
Josef Kleindienst, CEO of the project developer Kleindienst Group, said that there will be having a big party in Monte Carlo Island which is the first and only finished project in the man-made map-shaped Dubai World.
The said party is be ...More...
The said party is be ...More...
After the meeting with the lenders, DW hoping to complete its restructuring process within this year
26-07-2010 -
The Dubai World is hoping to complete and finish its restructuring process with the creditors before this year ends.
On July 22, 2010, it made a presentation to 70 banks at the Atlantis Hotel, Palm Jumeirah, wherein a group of its seven bi ...More...
On July 22, 2010, it made a presentation to 70 banks at the Atlantis Hotel, Palm Jumeirah, wherein a group of its seven bi ...More...
26-07-2010 -
Union Properties, one of the largest property developers, is now about to sell its hotel property, Ritz-Carlton Hotel which is located in Dubai International Financial Centre (DIFC), with the purpose of paying off some of its millions of debts an ...More...
26-07-2010 -
Since the Corp Executive Hotel Apartment Al Barsha was opened, it has already recorded with 86 per cent of occupancy so far.
According to Said Aamir Pervez, General Manager of the Hotel, persuaded that the said property is a good choi ...More...
According to Said Aamir Pervez, General Manager of the Hotel, persuaded that the said property is a good choi ...More...
26-07-2010 -
One of the renowned developers in the UAE, Emaar Properties, the builder of Burj Khalifa, gained almost AED 802 million profit just in the second quarter of this year 2010, immediately after the hand-over of some of the properties to its investors. ...More...
25-07-2010 -
Riffa Views has already completed the hand-over of its 300 villas to Ahmed Al Ghunim. There was a presentation occurred in which Al Ghunim received the keys together with the sculpture by Bahraini Artist Ali Mohammed Al Mahmeed.
Meanwhi ...More...
Meanwhi ...More...
25-07-2010 -
As the rental rates in Dubai have been falling since last year, some experts said that there is a possibility to have a further drop in the market but eventually it will once again emerge if the time comes when the economic status of the emirate be ...More...
25-07-2010 -
There is an agency offering a rental payment for apartments or units by using the credit card of the customers. This exclusive offer is only applicable to all residents of Discovery Gardens at the moment.
The acceptance of the credit ca ...More...
The acceptance of the credit ca ...More...
24-07-2010 -
The Schon Properties, the developer of a controversial Dubai Lagoon Project, made a payment strategy being offered to its investors by swapping the properties to another which are closer to completion.
The company is so far doing its part ...More...
The company is so far doing its part ...More...
24-07-2010 -
The great-granddaughter of the famous late-designer of Gucci brand, Elisabetta Gucci, is being restricted to use the brand name 'Gucci' to her hotel project planned to be opened in Dubai, United Arab Emirates.
The Gucci Company ...More...
The Gucci Company ...More...
24-07-2010 -
The Emaar Properties, a main builder of the tallest building in the world which is the Burj Khalifa, has posted that it has had 122 per cent of growth in line with its net operating profits worth of AED 1.66 billion in the first 6 months of the year, ...More...
22-07-2010 -
Today is the scheduled time for Dubai World to meet the creditors for tackling its restructuring proposal of $14.4 billion of debt. The company doesn't expect that all of them will agree with it.
According to the source, the company ...More...
According to the source, the company ...More...
22-07-2010 -
As the Middle East's largest private property developer, DAMAC Properties became popular and has received an international reputation for constructing and delivering luxury projects in different areas of the emirate of Dubai.
It has a ...More...
It has a ...More...
22-07-2010 -
What make the gradual recovery of Dubai economy are both the lack of sales and some foreclosure auctions due to unceasing and inconsistent drops of the property prices in the market.
Craig Plumb, Head of Middle East Research of Broker Jon ...More...
Craig Plumb, Head of Middle East Research of Broker Jon ...More...
21-07-2010 -
Dubai Villas are the best place to stay and live in spite of its expensive rental rates which are changeable. It is just based according to seasons: Low Season, Mid Season, High Season and Peak Season.
In fact, villas are quite not chea ...More...
In fact, villas are quite not chea ...More...
21-07-2010 -
The Dubai Government has implemented a new Strata Law, designed in order to bring solutions to some negative issues in the property market, and especially to all homeowners, to let them get out of being controlled by developers who have been mostly r ...More...
21-07-2010 -
Hosting the Department of Tourism and Commerce Marketing (DTCM) and Abu Dhabi National Hotels (ADNH) by Sofitel Dubai Jumeirah Beach regarding the official hand-over ceremony of 5-star classification was attended by the following respective individ ...More...
21-07-2010 -
Homeowners Associations are now feeling insolvent because some of the property owners have failed to pay the maintenance or service fees.
In one of Nakheel's projects, The Palm Jumeirah, there are more than 40 per cent of owners have ...More...
In one of Nakheel's projects, The Palm Jumeirah, there are more than 40 per cent of owners have ...More...
21-07-2010 -
According to the ratings agency, Fitch, it stated that the property sector in Dubai will continue to be pressured especially both the investors and developers. They would continually face more reductions in the property prices and rents until the yea ...More...
20-07-2010 -
The Islamic Bond of Dubai World's property unit Nakheel is trading at yields twice as high as in the year 2007, from which all the Persian Real Estate Companies make them hard to borrow to bank lenders because of debt crisis issue in particular. ...More...
20-07-2010 -
According to developer of Victory Heights project, there are more local and foreign individuals looking preferably for the high-end properties which are villas, than apartments. So it is mostly the cause of a constant decrease of property prices in ...More...
20-07-2010 -
Auris Hotel Management has new properties to be opened within this year. It has invested more than AED 850 million in launching those properties located in some areas of the Emirate, Dubai.
The properties being launched are as follows: th ...More...
The properties being launched are as follows: th ...More...
20-07-2010 -
As of now, the Dubai Property market remains stable in both apartments and villas, compared to three months ago.
Based on the Q2 report from Asteco, a property management company, it stated that the rates for residential units in Dubai ...More...
Based on the Q2 report from Asteco, a property management company, it stated that the rates for residential units in Dubai ...More...
19-07-2010 -
There are a lot of concepts concerning the Dubai Real Estate that it is now on the track of recovery, and different opinions either how fast the property market will emerge or how high it will bounce back.
Based on the Real Estate Data ...More...
Based on the Real Estate Data ...More...
19-07-2010 -
In the first place, renting a property in Dubai is an ideal way of investing because of the current status of the property rates in the market.
So far, there is a company named as a Dubai Investments Real Estate Company (DIRC) which is th ...More...
So far, there is a company named as a Dubai Investments Real Estate Company (DIRC) which is th ...More...
19-07-2010 -
There is a leading property agency in the UAE that gives hope to investors who lost their money in their investments because of the global economic downturn, that is, Smith and Ken Company. It made a system concerning the Real Estate Investment that ...More...
18-07-2010 -
The constant reduction of property prices in Dubai particularly is leading individuals or investors to have a real estate investment, for it is the great opportunity for them to invest more properties as long as they have a huge capital to purchase ...More...
18-07-2010 -
Dubai Properties Group, one of the members of Dubai Holding, announced a few weeks ago that its Al Khail Gate Community project has been in demand for some companies in Dubai; for it is offering them with affordable and reasonable rates for the accom ...More...
18-07-2010 -
Real Estate Regulatory Agency (RERA) is so far persuading the region-wide cooperation on regulation to have a conference regarding the importance of real estate sector. It will be supported by the following such as the Middle East North Africa Real E ...More...
18-07-2010 -
By the end of 2010, all the 794 villas of phase one in the residential golfing development which is the Victory Heights will be completed and delivered to the owners.
There were more than 70 per cent of the sold villas that were already ...More...
There were more than 70 per cent of the sold villas that were already ...More...
18-07-2010 -
Some experts are not optimistically agreeable but rather cautious regarding to Nakheel-Limitless operational merger which is aligning resources of the company and putting a great attention to all projects that are not yet completed so far.
...More...
...More...
17-07-2010 -
As a matter of fact, Dubai has been the center of business investments and still the preferable destination of tourists in spite of the current situation of the market in the UAE. They are being advised to choose either to rent a villa / apartment or ...More...
17-07-2010 -
A lot of developers are currently giving up their properties just for the sake that they can pay their debts. They used a property to pay debts instead of cash. It has just been happening because of the so-called 'world economic crisis'.
...More...
...More...
17-07-2010 -
It is the success of the property unit Nakheel that really gave relief to those stakeholders, and especially when its parent property developer Dubai World has been continuing to focus on its objective to make the emirate of Dubai as the center o ...More...
15-07-2010 -
The property unit of Dubai World, Nakheel, has been in talks with creditors to restructure its $10.5 billion of debt in the bank. According to the spokesperson of the company, this is just about the agreement of the payment terms to make them extende ...More...
Dubai is still the preferred destination for migration of those residents from Sharjah and Abu Dhabi
14-07-2010 -
In terms of rents declining, the emirate of Dubai has been so far the preferred destination of those residents from both Sharjah and Abu Dhabi. Most of them are transferring to Dubai instead.
Based on the survey from YouGov Siraj Omnibus ...More...
Based on the survey from YouGov Siraj Omnibus ...More...
14-07-2010 -
According to Marwan bin Ghalita, CEO of Real Estate Regulatory Agency (RERA), said that the government of Dubai is going to encourage developers except those with projects supported by the so-called 'Tayseer' program that has an objective t ...More...
14-07-2010 -
According to the top executive of Rotana, that launched a new property of over 300 rooms just a few days ago, it is about to announce that there are 4 more properties to be opened before this year ends.
According to Omer Z. Kaddouri, ...More...
According to Omer Z. Kaddouri, ...More...
14-07-2010 -
According to two bankers, the property unit of Dubai World, Nakheel, is planning to offer its lenders an interest of 4 per cent.
Nakheel's plan to offer a new interest rate on its loans in dollars and dirhams will be tackled tomorrow, ...More...
Nakheel's plan to offer a new interest rate on its loans in dollars and dirhams will be tackled tomorrow, ...More...
14-07-2010 -
Emaar Properties let almost 15 residents of Al Jaz in the Greens to be known to the public that they are failing to pay the service fees on time.
What the notice says is: "We wish to remind the following owners who have the Community Serv ...More...
What the notice says is: "We wish to remind the following owners who have the Community Serv ...More...
14-07-2010 -
Within this week, the supplier Tiger Steel will be awarded by the main contractor of Elite Residence project in Dubai, Arabian Company. It was chosen because of its proven track and competitive edge.
Actually, there are three steel supp ...More...
Actually, there are three steel supp ...More...
13-07-2010 -
Due to slowdown of economy in Dubai, according to the findings of a YouGov Siraj, most of the UAE residents have preferably chose to transfer from one place to another in which they chose to live and look for the larger rental properties because of t ...More...
13-07-2010 -
Among the projects in the UAE, Dubai Marina was on the top number one, based on the latest survey thru the real estate website. It is the most preferable choice from which the investors want to buy and rent a property. The survey was done during the ...More...
13-07-2010 -
On July 22, there will be a meeting between Dubai World and its bank lenders. They will just tackle about the controversial restructuring proposal.
Among the 80 creditors, there were only three sources saying that they have been invited ...More...
Among the 80 creditors, there were only three sources saying that they have been invited ...More...
13-07-2010 -
Al Khail Gate Community will be soon launched by Dubai Properties Group which is the real estate arm of Dubai Holding owned by Sheikh Mohammed bin Rashid Al Maktoum & Vice-President and Ruler of Dubai.
This community will be a good ...More...
This community will be a good ...More...
13-07-2010 -
Dubai World, which is owned by the Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, was planning to have a meeting with its creditor banks on July 22. It will just regard to its restructuring proposal to renegotiate the payment terms of $23.5 b ...More...
13-07-2010 -
There is one leading property agency in the UAE that launched a unique Real Estate Recovery Scheme. It is the Smith and Ken Agency itself. Its objective is to help investors to move on from losing their wealth and life's savings on off-plan prope ...More...
13-07-2010 -
As the property owners mostly cannot pay the required service fees on time. So the new law which is the Strata Law itself came in order to resolve the issue for the said fees.
and Fraemm/The obligations of the above-mentioned law ...More...
and Fraemm/The obligations of the above-mentioned law ...More...
12-07-2010 -
Most of the analysts said that there is a wide range of forecasts regarding to developers' provision against defaults.
According to Chet Riley, a property analyst of the Japanese firm Nomura Securities, she said that property devel ...More...
According to Chet Riley, a property analyst of the Japanese firm Nomura Securities, she said that property devel ...More...
12-07-2010 -
Rotana Company, one of the leading hotel management companies in the Middle East and North Africa (MENA) region, launched the opening of Centro Barsha Hotel property in Dubai. It is actually located nearby the districts of Media City and Internet Cit ...More...
12-07-2010 -
According to analysts, as the controversial issue of Dubai World is mostly resolved at the moment, it would be expected that all the construction companies are expected to have higher earnings in the second quarter of this year.
Supposedl ...More...
Supposedl ...More...
12-07-2010 -
Dubai Limitless, property unit of state-owned conglomerate Dubai World, sold its stake to a Malaysian Property Developer, Bandar Raya Developments.
Moreover, Bandar Raya's subsidiary Ardent Heights has reached to the point that it wan ...More...
Moreover, Bandar Raya's subsidiary Ardent Heights has reached to the point that it wan ...More...
12-07-2010 -
There will be having a lot of hotel brands from Spain to Singapore to launch operations in the Middle East.
For instance, five-star Melia Dubai Hotel in Bur Dubai will be opened by the Spanish Hotel Group Sol Melia in the first month of t ...More...
For instance, five-star Melia Dubai Hotel in Bur Dubai will be opened by the Spanish Hotel Group Sol Melia in the first month of t ...More...
11-07-2010 -
The market of Dubai Property developed itself with ups and downs until the time when the phenomenon called as a 'global economic crisis' came. Regardless of this fact, Dubai properties are being considered as the land of opportunities for bot ...More...
11-07-2010 -
The Government of Dubai is planning to provide the proposed green buildings but should have the so-called 'green building code' with incentives. It will be anticipated to be announced after two months from now.
According to Essa A ...More...
According to Essa A ...More...
11-07-2010 -
According to the latest report from property consultants, Cluttons, it said that the slowdown of property prices in Dubai becomes an opportunity for investors or buyers to have an investment from the property; for it will result an increasing deman ...More...
11-07-2010 -
As new supplies continue to be released until next year, office vacancy rates in Dubai are being expected to increase 50 per cent, by which the commercial real estate market will not probably recover in the short term.
Based on the report ...More...
Based on the report ...More...
10-07-2010 -
A considered-biggest developer in UAE, Arabtec, is about to receive its first ever major cash payment, 40 per cent, from the property unit of Dubai World, Nakheel. The payment is being planned to restart the projects such as the construction of 1,500 ...More...
10-07-2010 -
Speculation regarding the introduction of the Strata Law which is to remove the legal ambiguity with respect to jointly-owned property that presently exists for both homeowners and developers has been for years.
Directions were issued by L ...More...
Directions were issued by L ...More...
10-07-2010 -
In 2008, it was the year when Real Estate Industry became booming in the emirate of Dubai. It was considered as one of the leading and largest property business sectors in the world. Indeed, each real estate establishment has an agent who is skilled ...More...
09-07-2010 -
The Dubai Holding Commercial Operations Group (GHCOG) which is the real estate and hospitality arm of conglomerate Dubai Holding owned by Sheikh Mohammed bin Rashid Al Maktoum was allowed to extend the payment for its $555 million loan in credit faci ...More...
08-07-2010 -
The top ranked value department store of United Kingdom, Matalan, was officially launched by Laurence Llewelyn-Bowen, the celebrity of UK interior designer. It was held at the Lamcy Plaza, Dubai.
Actually, the above-mentioned store was on ...More...
Actually, the above-mentioned store was on ...More...
08-07-2010 -
As a part of Dubai Holding, the Dubai Properties Group is about to hold an auction for lease some of its plots at Jumeirah Beach Residence Community, its three beach club plots, because of the negative effect of global economic downturn that almost ...More...
08-07-2010 -
There are about 75 per cent of the respondents to Landmark Advisory's "green building survey" looking to relocate a new office in the proposed green building, for they believed that their utility bills will lower. But 55 per cent of them just con ...More...
07-07-2010 -
So far, the Municipality of Dubai is implementing a new plan regarding the monthly payment of the housing fee for all tenants in 17,000 residential units in Dubai; and thus, it is in order to have a uniform and systematic process of collecting the ...More...
07-07-2010 -
The board member of a renowned Union Properties, Mohammed Omar Bin Haidar, resigned a few days ago, and the company consequently accepted his resignation. Actually, it is considered as the second high-level resignation for the developer this year i ...More...
07-07-2010 -
Based on the report, it said that the absence of the so-called 'sinking funds' and very high maintenance charges in some properties in Dubai will make investors running out of money and let them think twice before purchasing a property.
...More...
...More...
07-07-2010 -
The management of Somerset Residences in Jadaf was taken over by Wafi Group and concurrently renamed the property as a Park Hotel Apartments, located just adjacent to the Arabian Park Hotel which is also owned by the above-mentioned group.
...More...
...More...
06-07-2010 -
The Ritz-Carlton Dubai is about to plan for having a major expansion project that will increase the total number of guest rooms and concurrently will add several restaurants as well. The project will be started in the month of October of this ...More...
06-07-2010 -
According to the Chairman of Union Properties, Khalid bin Kalban, he said that the company is expectantly going to sell its one of the properties, Ritz Carlton Hotel, which the company has put it on the market for almost AED 1.6 billion, in the Gulf ...More...
06-07-2010 -
The tallest tower in the world, Burj Khalifa, which is one of the prestigious attractions for foreigners or tourist, and also is located on the famous Sheikh Zayed Road in Dubai, is so far offering rental units for everybody who can exclusively affor ...More...
06-07-2010 -
According to one of the top officials of property unit of Dubai World, Nakheel, he said that it will be possibly reaching an agreement with its lenders next week.
Furthermore, Nakheel is going to complete its 40 per cent cash payment to i ...More...
Furthermore, Nakheel is going to complete its 40 per cent cash payment to i ...More...
06-07-2010 -
The market for Dubai Properties has been developed with ups and downs situations that have occurred since the peak in 2008. Dubai has been considered as the land of opportunities from which all foreign investors gained millions of dirham and became ...More...
06-07-2010 -
The Real Estate Specialist, Cluttons Middle East, has enjoyed its dedication on making reports concerning properties in the Middle East since 1976. So far regarding its latest report for the second quarter of this year 2010, it is believed that the c ...More...
06-07-2010 -
Ms. Ulrike Androff was newly appointed as the Hotel Manager of one of the renowned hotels in Dubai, One to One Hotels and Resorts. She has had almost 26 years of experiences in the service and hospitality industry.
Actually, she is ...More...
Actually, she is ...More...
06-07-2010 -
There is a possibility for Dubai property owners to be affected by huge maintenance charges if they are not preparing for sinking funds before purchasing a property.
Based on the new Jointly Owned Property Law regulations, it is stating t ...More...
Based on the new Jointly Owned Property Law regulations, it is stating t ...More...
05-07-2010 -
A few days ago, the chiller connection in some apartments of Tiara Residence which is one of the luxury developments on the prestigious Palm Jumeirah has been discontinued.
According to Zabeel Properties, the main developer of the project ...More...
According to Zabeel Properties, the main developer of the project ...More...
05-07-2010 -
According to an expert, handovers of properties are expected to lead Emaar Properties on the top, which is one of the famous developers throughout the UAE, while, in comparison, the weak status of land sales and deliveries of properties in Abu Dhabi ...More...
05-07-2010 -
Dubai Marina in UAE has been one of the favorite destinations of foreigners or tourists to live in. But so far the property owners have been bothered by the service and cooling charges that make their investments weak.
Actually, high serv ...More...
Actually, high serv ...More...
05-07-2010 -
According to the property management arm of a leading real estate developer, it said that the owners of properties in the freehold areas of Dubai will be charged for maintenance which should be known before the purchasing of the property.
...More...
...More...
05-07-2010 -
Kleindiendst Group by which the first ever villas to be constructed in the Dubai World project has already started its construction on one of the man-made islands, named as a Germany Island.
In the first place, the Dubai-based developer Ci ...More...
In the first place, the Dubai-based developer Ci ...More...
04-07-2010 -
Omniyat Property Services (OPS), one of the region's most innovative property developers, has been assuring its owners and tenants with unique leasing solutions which are offering functions that enable the foreign or local investors to best lea ...More...
04-07-2010 -
The Real Estate Regulatory Agency in Dubai has been doing its rights to restrict and eliminate the activities of freelance brokers or agents and has said that their activities are considered 'illegal'.
According to RERA, it said th ...More...
According to RERA, it said th ...More...
04-07-2010 -
So far, the Dubai World which is the conglomerate that has been restructuring its $23.5 billion of debt is continually handing over its responsibility for the developer Limitless to property unit Nakheel itself. Concurrently, it has also appointed a ...More...
04-07-2010 -
The property unit of Dubai World, Nakheel, has been given with responsibilities of Dubai Limitless with a goal to attain the best results for both the developers.
According to the Dubai Media Office, it said that the Higher Committee will ...More...
According to the Dubai Media Office, it said that the Higher Committee will ...More...
04-07-2010 -
The Tasweek Real Estate Development and Marketing which is both the advisor and solutions provider that serves the real estate markets throughout the Middle East, announced that it is ready to serve Abu Dhabi and Dubai inline of property manage ...More...
04-07-2010 -
Sarmad Zok, CEO of Dubai-based Kingdom Hotel Investments (KHI), was appointed by the Kingdom Holding Company (KHC) and was presented to the company's board of directors and investment committee as well.
Zok is presuming his new respons ...More...
Zok is presuming his new respons ...More...
03-07-2010 -
The National Bonds Corporation was announcing the launch of its new Customer Service Centre in the Skycourts which is one of its projects in the UAE.
The company said that the said service will function as an instrument to contact for all ...More...
The company said that the said service will function as an instrument to contact for all ...More...
03-07-2010 -
According to the Ministry of Economy, short-term borrowing is so far more risky than the long-term one in the nature of real estate investment, especially in the current status of the economy in the world, being affected by the so-called ‘g ...More...
03-07-2010 -
The property unit of Dubai World, Nakheel, has started its payment as a second phase to those involved creditors.
The main developer of the prestigious palm-shaped islands, Dubai World Company, said that it will be going to pay its trade ...More...
The main developer of the prestigious palm-shaped islands, Dubai World Company, said that it will be going to pay its trade ...More...
02-07-2010 -
The Dubai Pearl has been once again back on the track of construction with fresh ideas after its unceasing delays since the crash of global economy in 2008.
According to Santhosh Joseph, President and CEO of Dubai Pearl, he said that th ...More...
According to Santhosh Joseph, President and CEO of Dubai Pearl, he said that th ...More...
02-07-2010 -
According to Jones Lang LaSalle, it said that the average daily rates for beach hotels in Dubai were twice compared to City centre properties during the second quarter of this year 2010.
Based on the new report from the property consultan ...More...
Based on the new report from the property consultan ...More...
01-07-2010 -
Due to a downturn status of property market, there are a lot of investors trying to take advantage to purchase now some properties with the intention to sell them eventually when the property prices increase. It is just in order for them to have a ...More...
01-07-2010 -
As the summer break is going on, it brings about the growing concern in relation to the issue of property management, for instance, the extended period of absence creates an increasing need for the services and facilities to provide the needs of bo ...More...
01-07-2010 -
The Company of Al Tamimi will be going to host a briefing regarding the implementation of the new Jointly Owned Property Law regulations in Dubai, United Arab Emirates.
The company will provide the general overview and guidelines of the n ...More...
The company will provide the general overview and guidelines of the n ...More...
01-07-2010 -
Yesterday, the Dubai Land Department was introducing the so-called ' Tayseer ' which is to make a real estate funding for the selected developments in the emirate. It has just been designed in order to fund those shorted developments to be ...More...
01-07-2010 -
One of the famous real estate agencies in Dubai, Better Homes, announced that in the first quarter itself, the agency witnessed the growth in its residential sales transactions with almost 40 per cent in May 2010 which is higher than the volumes sinc ...More...
01-07-2010 -
Deyaar, the second-largest developer by market value in the Gulf, said that its board agreed to return the management of Skycourts which is a residential development in Dubailand and a multi-billion dollar theme project throughout the Gulf emirate, t ...More...
30-06-2010 -
As Chairman Ali Lootah said that the property developer Nakheel has already started its payment to creditors the first tranche of cash, but it will take almost two weeks of processing until all those creditors are fully paid.
Nakheel wi ...More...
Nakheel wi ...More...
30-06-2010 -
Elisabetta Gucci, the daughter of the famous designer Paolo Gucci, is still planning to continue her first hotel in Dubai to be opened within this year in spite of the legal action against her by the Fashion House Company.
The above-men ...More...
The above-men ...More...
30-06-2010 -
According to the top executive of Rotana, he said that the group is planning to open four more properties just before the end of this year 2010.
Omer Kaddouri, Chief Operating Office of Rotana Group, said that every year the group should ...More...
Omer Kaddouri, Chief Operating Office of Rotana Group, said that every year the group should ...More...
30-06-2010 -
The Rotana Group has just opened its first ever hotel property in Dubai, which is located at the Jumeirah Beach Residence.
The hotel offers almost 301 rooms, from which the visitors can see the sea views. They were built in a modern con ...More...
The hotel offers almost 301 rooms, from which the visitors can see the sea views. They were built in a modern con ...More...
29-06-2010 -
For three to four months, there will be having a bidding for the MEP and other finishing works contracts on the Dubai Lagoon Project which is located in a popular Dubai Marina.
The main developer of the said project, Schon Properties, w ...More...
The main developer of the said project, Schon Properties, w ...More...
29-06-2010 -
Yesterday, the construction of the first villas in Dubai World was announced by the Property Group itself, Kleindienst. The villas will be built on one of the islands named as a Germany Island.
So far the compaction in the construction sit ...More...
So far the compaction in the construction sit ...More...
29-06-2010 -
According to Jones Lang LaSalle, with 20 million square feet for office space which is being expected to be released this year, there is only 25 per cent is completed yet.
The above-mentioned million square feet of office space is located ...More...
The above-mentioned million square feet of office space is located ...More...
29-06-2010 -
Meydan Company announced its signing for the so-called ' Letter of Understanding ' (LOU) with Jumeirah Group for managing its five-star hotel named as The Meydan. The said group would be its service provider to assist its first guests in the ...More...
29-06-2010 -
Based on the report from Jones Lang LaSalle, it said that there seems no recovery shown for residential price before the year 2011 except in terms of vacancy rates in commercial property, for there will be having more than 50 per cent increase next y ...More...
28-06-2010 -
There is an engineering company which is the head of the Gulf's largest construction affirming about the oversupply in the Dubai property market that will continue until four to five years from now.
So far, the real estate market stil ...More...
So far, the real estate market stil ...More...
28-06-2010 -
The 40 per cent tranche of money owned by the property developer Nakheeel to the Giant Contruction Company, Arabtec, will be paid in the next two weeks.
According to Riad Kamal, the CEO of Arabtec, he said that he called the C ...More...
The 40 per cent tranche of money owned by the property developer Nakheeel to the Giant Contruction Company, Arabtec, will be paid in the next two weeks.
According to Riad Kamal, the CEO of Arabtec, he said that he called the C ...More...
28-06-2010 -
Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister and Dubai Ruler of the UAE, said that the recession is just a global phenomenon. He doesn't think that the emirate of Dubai is in fear, but rather considers it as a challeng ...More...
28-06-2010 -
According to Leo Sterling, a property portfolio manager, he said that the property market is still attractive and competitive because of the following such as its well-established business, and home living amenities, and more.
As the cont ...More...
As the cont ...More...
28-06-2010 -
There is a new legal principle being implemented by the Dubai Court of Cassation. It is regarding the registration of any properties purchased in Dubai that need to be registered first with the Land Department in order for it to be a legal transactio ...More...
26-06-2010 -
So far, the biggest contractor in line of construction throughout the UAE, Arabtec, has already received its payment from the property unit of Dubai World, Nakheel.
Moreover, some of its trade creditors such as the KEO International and ...More...
Moreover, some of its trade creditors such as the KEO International and ...More...
26-06-2010 -
The head of one of the Middle East's biggest contractors said that the Dubai developers have been improving its payment for overdue invoices to their contractors as compared to last year's situation.
According to Khaldoun Tabari ...More...
According to Khaldoun Tabari ...More...
Elisabeth Gucci, granddaughter of the famous designer, Paulo Gucci, trying to open an hotel in Dubai
26-06-2010 -
According to Lorens Ziller, the managing director of her EG Hotels company, she said that the granddaughter of the famous designer of Italian brand's trademark, Paulo Gucci, is planning to open an 87-suite property in Dubai's Media World dist ...More...
24-06-2010 -
According to the report, rental villas in Dubai are more preferable than residential apartments for tourists so far, for most of them are spending their short vacation on luxurious villas in which the rental prices are at the very low rates. It is be ...More...
24-06-2010 -
Based on the report, the Dubai Lagoon Project, being developed by Schon Properties, a leading regional property developer, has been on the progress of construction. The company announced its commitment to deliver the project's phases on the com ...More...
23-06-2010 -
According to the periodic Harbor Report, it expected that there would be having less than 50, 000 residential units to be delivered onto Dubai property market after two years from now, but so far it says that the quantity is getting down based on the ...More...
23-06-2010 -
Being a rental specialist with more than 15 years of experience in the real estate business, the Move in Dubai is a company that provides all kinds of rental properties throughout the Emirate of Dubai. So now it is offering a hot deal of a short term ...More...
23-06-2010 -
According to the latest Annual World Wealth Report released by Merill Lynch Wealth Management in Dubai, it stated that still the real estate sector is that which gives a high quantity of wealth in the Middle East in spite of the downturn of property ...More...
22-06-2010 -
Ever since the peak of Dubai in 2008, it has been one of the top ranks in terms of property market because of its tourism asset and being a right place for investments, though it has been still facing the challenge of global economic downturn; but gr ...More...
22-06-2010 -
Based on the report, the company of Irex Group of Canada announced its plan to launch a specialized real estate exchange for the region. It is seeking an approval to open its Dubai-based branch for the Middle East and North Africa (MENA) region that ...More...
22-06-2010 -
With regards to lease rates in Dubai property, there has been a huge drop that happens this month of June, compared to lease rates last month of April 2010.
According to Dubai lease guide from Landmark Advisory, it stated that both the qua ...More...
According to Dubai lease guide from Landmark Advisory, it stated that both the qua ...More...
22-06-2010 -
According to Mohamad Alwadiya, Managing Director of Harbor Real Estate, the rental status of villas so far is in-demand but the price will be probably getting lower soon or later as well because of continuous supply of villas. As based on the e ...More...
21-06-2010 -
Regarding to Facilities Management Middle East, some consultants suggested that the new property law regulations, the so-called the Strata Law which was released last June 5, are so confidential.
According to Mick Dalton, Independent Consu ...More...
According to Mick Dalton, Independent Consu ...More...
21-06-2010 -
According to some involved real estate broker firms, they requested that the real estate training programs by the Real Estate Regulatory Agency (RERA) need to be more comprehensive in light of its being expensive, and suggested RERA to make the cours ...More...
20-06-2010 -
The advisor and solutions provider who has been serving the Middle East real estate markets announced that the initiated property management services in Abu Dhabi and even in Dubai by signing its property contract started to handle a few buildings bo ...More...
20-06-2010 -
According to the latest Knight Frank Global House Price Index, it stated that there has been a sign of recovery for real estate sector after the huge fall of property prices during the first impact of global financial downturn. It almost tumbled to m ...More...
Tenants in Dubai are presently looking for the good property with an agreeable and lower rental rate
20-06-2010 -
Based on the report for the month of June from Landmark Advisory, a leading real estate consultancy in the Middle East, lease rates have been continually turning down because of over-supply of properties which are so far turning to almost 100,000 uni ...More...
19-06-2010 -
There is a new deal that enables Emaar Properties to focus on its strategic markets, which is by developing the integrated lifestyle communities in its primary markets in the Middle East and North Africa region (MENA). It is an agreement with the C ...More...
17-06-2010 -
Based on the report from Moody's Investment Service, it asked the investors to be preferably optimistic about Dubai and reap out of the lower property costs in the city as it still is one of the most preferred investment choices of investors. < ...More...
17-06-2010 -
Fraser Suites expanded its properties globally. It almost reached Dubai where it is the first property the company has throughout the UAE. It is actually located on the Sheikh Zayed Road in Dubai and occupies the 23 floor of the Sidra Tower which i ...More...
15-06-2010 -
Dubai homeowners of properties need to know the concept of ' units of entitlement ' with the announcement of Jointly Owned Property Declaration.
There is a key factor of calculation of service fees. The entitlement will dep ...More...
There is a key factor of calculation of service fees. The entitlement will dep ...More...
15-06-2010 -
The tenants of Discovery Gardens owned by Nakheel property have been demanded to pay off the cost of using the chillers, according to the report; for there has been a constant increasing of rental rates. For instance, one of the residents rented a on ...More...
14-06-2010 -
Creating properties in one community such as villas, towers, and shopping malls should always be made prior to reality with a strategy that could contribute to the economy of one nation.
But when the global financial downturn pummeled the ...More...
But when the global financial downturn pummeled the ...More...
14-06-2010 -
In the third quarter of this current year, the developer of Dubai Pearl project located at Dubai Marina area and opposite the prestigious palm-shaped islands, Palm Jumeirah, will be awarding subcontracts to MEP.
Actually, Pearl Dubai is a ...More...
Actually, Pearl Dubai is a ...More...
14-06-2010 -
Based on the statement from the developer itself of Dubai Pearl, there are almost 2,000 tonnes of equipments used on the construction site in Dubai Marina.
Santhosh Joseph, CEO of the company, said that the MEPAluminum and glazing tender ...More...
Santhosh Joseph, CEO of the company, said that the MEPAluminum and glazing tender ...More...
13-06-2010 -
Union Properties, the third largest developer, has been truly affected by the global fiscal crisis, but going back to basics might be its formula for success, according to the Chairman of the company.
So far, the company is also plann ...More...
So far, the company is also plann ...More...
13-06-2010 -
There have been more than 70 per cent of people who owned apartments in the prestigious tallest tower in the world, Burj Khalifa, as mentioned by some real estate agents in Dubai. They are actually not willing to sell the property they purchased but ...More...
10-06-2010 -
The world's tallest tower in the world, Burj Khalifa, has luxurious apartments by which some real estate agents in Dubai have been lured to decrease the rents because of the current status of property market in the UAE.
Actually, the ...More...
Actually, the ...More...
10-06-2010 -
The latest news about the property is that both the developers in Mumbai and Dubai have been in the concept of building the world's tallest residential tower.
As a matter of fact, the Lodha Developers Ltd. has been constructing its 442 ...More...
As a matter of fact, the Lodha Developers Ltd. has been constructing its 442 ...More...
10-06-2010 -
Two years ago, what every investor heard was all about negative impacts of the global economic crisis. But, surprisingly, the status of the economy so far has been already on the track of recovery in a gradual process. So, according to Tony Hayne ...More...
09-06-2010 -
Sol Melia would become the first Spanish hotel operator in the Middle East Market if its plan to build a property in Dubai happens next year. It is also a five-star hotel which will be operated under the management agreement in Al Raffa, Bur Dubai. < ...More...
09-06-2010 -
Based on the real estate agents and rental ads, the rental prices per annum in the world's tallest building, Burj Khalifa, are very expensive. Actually, the prices range between AED 180,000 to AED 260,000 for one-bedroom and AED 300,000 for two-b ...More...
09-06-2010 -
Based on the real estate agents and rental ads, the rental prices per annum in the world's tallest building, Burj Khalifa, are very expensive. Actually, the prices range between AED 180,000 to 260,000 for one-bedroom and AED 300,000 for two ...More...
08-06-2010 -
The Elite Residence Tower owned by Tameer Holding Investment, which is worth a massive of AED 1.7 billion, will stand at 380 meters; and it can accommodate up to 1,500 residents in one of Dubai's most sought-after districts. The construction ha ...More...
08-06-2010 -
A group of Irish Investors will be met by an Indian Company in Dublin for the sake of having a deal in order to rescue some of the projects in Dubai Sports City development.
In fact, there are almost 1,000 Irish investors who bought prope ...More...
In fact, there are almost 1,000 Irish investors who bought prope ...More...
08-06-2010 -
According to the property analysts, they said that this year is the right time and opportunity for all investors to buy a property in Dubai, for the property prices are so far getting lower. They can purchase and negotiate with the sellers at a lower ...More...
08-06-2010 -
According to V. Shankar, Chief Executive Officer of Standard Chartered for Europe, Middle East, Africa and Americas, he said that the initial signs of interest are emerging among Asian Investors to invest in Dubai's real estate wherein the prop ...More...
08-06-2010 -
According to the latest industry report, there will be having an excess of 115,000 of unoccupied residential units in Dubai by the end of the year 2012.
So the Dubai State of the Market Report suggested that there are as many as 500, 00 ...More...
So the Dubai State of the Market Report suggested that there are as many as 500, 00 ...More...
07-06-2010 -
The Dubai World property unit Nakheel said that its agreement with the trade creditors would let it begin to pay its unpaid bills.
A month ago, Nakheel said that almost half of its creditors already agreed to its repayment deal. Prov ...More...
A month ago, Nakheel said that almost half of its creditors already agreed to its repayment deal. Prov ...More...
07-06-2010 -
According to the experts, service charges at Burj Khalifa will start at AED 52.77 per sq. ft for residential and will increase to AED 78.63 per sq. ft. for Armani Residences.
Emaar Properties confirmed that the amount AED 52.77 per square ...More...
Emaar Properties confirmed that the amount AED 52.77 per square ...More...
07-06-2010 -
One of the prestigious brand designers, Elisabeth Gucci, a daughter of the late fashion designer Paolo Gucci, is planning to build more hotels in the region at least three hotels per year to be started next year until the year 2025.
Acco ...More...
Acco ...More...
07-06-2010 -
Based on the guidelines issued by the Real Estate Regulatory Agency (RERA), the developers are obliged to give their homebuyers with the so-called 'disclosure statement' that contains of full information on the property itself, surrounding ...More...
07-06-2010 -
The Dubai World's property unit Nakheel said that it has already started to pay its trade creditors, contractors and sub-contractors with almost AED 500,000.
According to the spokesperson of the company, all its trade creditors have be ...More...
According to the spokesperson of the company, all its trade creditors have be ...More...
07-06-2010 -
The property unit of Dubai World, Nakheel, has already started paying its contractors owed less than AED 500,000, and will resume work on short-term projects within weeks.
Moreover, it has already begun to pay claims by contractors that ca ...More...
Moreover, it has already begun to pay claims by contractors that ca ...More...
06-06-2010 -
According to realty consultants, the best rental deals in Dubai are so far available in such as International City, Discovery Gardens and Silicon Oasis as well. On the other hand, Elaine Jones, CEO of Asteco Property Management, said also that the ch ...More...
06-06-2010 -
There is a possibility for residential prices in Dubai to increase with 15 to 20 per cent and at the same time more than 47, 000 housing units to be available units expected to hit the market before and after the end of this current year.
...More...
...More...
05-06-2010 -
According to the Middle East Economic Digest, it said that Sama Dubai which is a unit of Dubai Holding LLC began the construction of its AED 2 billion Salam Beach Resort and Spa project in November 2005, but it was stopped in the month of January 200 ...More...
05-06-2010 -
There will be a new completion deal being offered by an Indian company in order that hundreds of Irish investors will be confident once again to invest in the property market despite of the fact that they have already lost a lot of amounts since th ...More...
05-06-2010 -
Nowadays, more institutional funds are searching the market for investments, but nothing much has changed since the first quarter of the current year.
Actually most of the investors are still cash rich investors or institutional funds, ...More...
Actually most of the investors are still cash rich investors or institutional funds, ...More...
05-06-2010 -
According to JP Morgan Chasse and Co, he said that the Dubai Holding Commercial Operations Group LLC is not planning to restructure its debt after posting a $6.2 billion loss as it benefits from the following investments such as hotels, rental, and t ...More...
03-06-2010 -
In order to shun the customers' defaults, the developer of Dubai Pearl has cut 40 per cent off the cost of apartments which were bought during the peak of the market.
Since 2008, there have been luxury apartments at the project itse ...More...
Since 2008, there have been luxury apartments at the project itse ...More...
03-06-2010 -
So far, the buyers of homes or apartments in Dubai did not have the right to form owner's associations or hire property managers. But managing of sold properties continued to be the responsibility of the developer.
The new law, Dubai ...More...
The new law, Dubai ...More...
03-06-2010 -
The Sabban Group of Companies, the umbrella organization of developer Sabban Property Investments, has set up an AED 7 million headquarters in Dubai Investment Park. Its new office is located at the second floor of the Falcon House. It is expected to ...More...
03-06-2010 -
The Dubai Department of Finance will hold meetings with fixed income investors in Europe and concurrently look for potential investors for the emirates' economy.
According to the Spokeswoman at Department of Finance, she said that the ...More...
According to the Spokeswoman at Department of Finance, she said that the ...More...
02-06-2010 -
According to Ayman Okasha, Chief Property Officer, he said that the company has sent out notices to investors at February-end, mostly for the MotorCity project, asking them to honor their commitments and make the final payment for handover of their ...More...
02-06-2010 -
According to Strata Global, the position of Dubai's Real Estate Regulatory Agency (RERA) on owner's association management licensing will give confidence to Dubai Freehold Ownership Market.
Kent O'Brien, CEO of Strata Global ...More...
Kent O'Brien, CEO of Strata Global ...More...
02-06-2010 -
There are some properties continuously facing the challenges of global financial crisis, in which the firms are offering property valuation services in the UAE.
The valuation arms of some leading real estate companies report a 25-30 per ...More...
The valuation arms of some leading real estate companies report a 25-30 per ...More...
02-06-2010 -
According to the company official, the Abyaar Real Estate Development, a Kuwait-listed company, has already sold its 50 per cent of the AED 360 million Pier 8 project in Dubai Marina to the local investor. Then he added that although the company has ...More...
02-06-2010 -
Last Tuesday, a real estate and hotel group owned by the Ruler of Dubai, Sheikh Mohammed Bin Rashid Al Maktoum, announced its sudden loss for the year 2009. It happened after the Dubai International Capital was planning to delay its debt payments.
...More...
...More...
01-06-2010 -
Last week, the strata law guidelines were introduced and considered as an answer to Dubai homeowners who could possibly save millions of dirham in service fees.
But, on the other hand, the new implemented rules could bring a greater finan ...More...
But, on the other hand, the new implemented rules could bring a greater finan ...More...
01-06-2010 -
According to data released by CB Richard Ellis, the Strata ownership in Dubai's commercial property sector will increase by 40.5 per cent by year 2012 and also by 74 per cent in the emirate's residential sector in the same period as single ow ...More...
01-06-2010 -
According to one official, the Asteco Property Management is planning to get a license from the Real Estate Regulatory Agency (RERA) to manage owner's associations in Dubai.
Nicole Betts, Head of Association Management and Asteco Prop ...More...
Nicole Betts, Head of Association Management and Asteco Prop ...More...
Arms Group of Companies and Al-Taqnyah Business Solutions united for the launching of OREC and SREC2
31-05-2010 -
The Arms Group of Companies and Al Taqnyah Business Solutions united and tied up with the propertiesguild.biz in order to launch their real estate solutions. There were more than 300 investors and property dealers / consultants from across the re ...More...
31-05-2010 -
According to Moody's Investors Service, the imbalance of supply-demand is still the main reason of the continuous negative outlook for the property industry in the Arabian Gulf such as the UAE in particular.
The negative outlook ...More...
The negative outlook ...More...
31-05-2010 -
The global investors will be given with a valuable opportunity to review the state of one of the emirate's most important corporate groupings which is the Dubai Holdings Commercial Operations Group (DHCOG) thru the annual financial statement.
...More...
...More...
31-05-2010 -
There are 15 hotels to be opened throughout GCC
There will be six hotels to be opened throughout the Middle East by the Ramee Group of Hotels and Resorts.
Actually, the four and five star hotels are being planned to be ...More...
There will be six hotels to be opened throughout the Middle East by the Ramee Group of Hotels and Resorts.
Actually, the four and five star hotels are being planned to be ...More...
31-05-2010 -
A year ago, there were lots of Dubai property brokers holding some properties which were for sale, and trying to sell homes in a market in which interested buyers were just limited, for instance, the Sheerwoods and Madania Real Estate.
So ...More...
So ...More...
30-05-2010 -
Ziad Makhazoumi, Chief Financial Officer of the largest builder in the UAE, which is the Arabtec itself, said that the cash-strapped property developer of Dubai World, Nakheel, is not in arrears to Arabtec.
Moreover, he said that the Ara ...More...
Moreover, he said that the Ara ...More...
30-05-2010 -
According to the source, the Dubai International Capital, one of the investment units of conglomerate Dubai Holding, has already sold its assets with the creditors to file and see what will be the outcome. It sold its investments in such as EAD ...More...
30-05-2010 -
Based on the Dubai Department of Economic Development ( DED ) report, there was a significant growth in Dubai's economic activities in the month of April as it issued almost 1,393 licenses released for several types of businesses througho ...More...
30-05-2010 -
According to Sultan Bin Nasser Al Suweidi, the Gulf's state central bank governor, said that mostly the UAE's banks accept positively the debt proposal of Dubai World; for the credit growth is reasonable.
The economic growth is exp ...More...
The economic growth is exp ...More...
29-05-2010 -
According to Emaar Properties PJSC, the global developer is giving its commercial customers with an option to choose from two prestigious locations in Dubai for setting up business easily.
The company is leasing commercial space in Emaar ...More...
The company is leasing commercial space in Emaar ...More...
29-05-2010 -
The Nakheel Group, a prestigious construction company in UAE, received $8 billion from Dubai Financial Support Fund. So there is a possibility to continue the construction work for its project, Nakheel Tower. Actually it was put on hold because of fi ...More...
29-05-2010 -
The private equity unit of flagship conglomerate Dubai Holding, Dubai International Capital, is requesting to extend its payment for a three-month debt delay, that is, it will be extended until the month of September. Actually, it has a $1.25 billi ...More...
27-05-2010 -
According to Peter Crogan, Chief Executive Officer at BCS Strata Management Services, he said that the transparent strata management guidelines are very important to the property market stability. Furthermore, it will provide a range of benefits that ...More...
26-05-2010 -
Chief Executive of Arabtec, which is the largest builder in the UAE by market value, said that the company has been expecting cash from the property unit Nakheel's debt restructuring by the end of June.
Kamal affirmed how much money ...More...
Kamal affirmed how much money ...More...
26-05-2010 -
So far, Dubai officials are planning to reform the government's financial status. According to Ahmed Humaid Al Tayer, he said during the banking forum that although Dubai expects a return to high economic growth, it is still critical to urgently ...More...
26-05-2010 -
Based on the US-based online travel reservation website, Expedia, the three-star hotel so far has been in the third rank throughout the Middle East, but on the other hand the budget hotel market has been increasing.
In the first quarter ...More...
In the first quarter ...More...
26-05-2010 -
So far, the Dubai Lagoon's substation, for which Schon Properties, a leading regional property developer that invested almost a total sum of AED 48 million, has already been completed by DEWA, and is ready to be commissioned as well. It was built ...More...
26-05-2010 -
According to Marwan Bin Ghalita, he said that the Strata Law should be mandatory for all developers, having projects in Dubai to submit their drawings first to the Land Department's survey section for approval so that the rights to communal areas ...More...
25-05-2010 -
One of the top officials said that UAE banks have been finding the Dubai World's debt restructuring proposal acceptable.
According to Sultan Bin Nasser Al Suwaidi, Governor of UAE Central Bank, he said that all the involved banks are ...More...
According to Sultan Bin Nasser Al Suwaidi, Governor of UAE Central Bank, he said that all the involved banks are ...More...
25-05-2010 -
According to Analysts, they expected the gradual recovery of UAE economy to continue if in case the investors' confidence returns, especially in the real estate market.
Mohamad Kamal, head of real estate Middle East at the law firm L ...More...
Mohamad Kamal, head of real estate Middle East at the law firm L ...More...
25-05-2010 -
There is a new hotel in Dubai opened by Chelsea Group that brought almost its investments in the hospitality industry in the UAE. It was more than AED 600 million.
Shiraz Kassam, the Managing Director and CEO of Chelsea Group, said that t ...More...
Shiraz Kassam, the Managing Director and CEO of Chelsea Group, said that t ...More...
25-05-2010 -
A new high executive director, Mr. Tarek Mourad, was appointed and welcome by JAL Hotels family. He would be the Director of Finance of the second JAL Hotel property to be open in the UAE and Middle East as well.
Mr. Mourad will face a ...More...
Mr. Mourad will face a ...More...
25-05-2010 -
For the third time, the Emaar Healthcare Group and Methodist International have just opened their healthcare centre in Dubai. It is being called as an Arabian Ranches Clinic in the established Arabian Ranches neighbourhood of Emaar Properties.
< ...More...
< ...More...
25-05-2010 -
Riad Kamal, CEO of Arabtec which is the largest construction company, said yesterday that the company he has been working to has made its largest workforce shift to Saudi Arabia as an 'only salvation'
He added that the company has ...More...
He added that the company has ...More...
25-05-2010 -
Every month Dubai is adding almost 10,000 new residents to its population but still the property agents and dealers have enough business to keep them occupied. It means that the property market in UAE is so far on the way to recovery.
Lind ...More...
Lind ...More...
24-05-2010 -
According to new data released yesterday by online project tracking database MEED Projects, there are still more than $1.3 trillion worth of announced and un-awarded projects of GCC, and also $1.4 trillion in the Middle East region in spite of gl ...More...
24-05-2010 -
The features of the tower are as follows: there are 380 square feet of executive offices, a business center, more than square feet of showroom space, restaurants, a health club and a penthouse.
This project will be the first commercia ...More...
This project will be the first commercia ...More...
24-05-2010 -
The Dubai property developer, Emaar, has a plan to establish more restaurants outside the UAE, and will expectedly launch their new brands before this year ends.
According to Marc Dardenne, chief executive of Emaar Hospitality Group, he ...More...
According to Marc Dardenne, chief executive of Emaar Hospitality Group, he ...More...
24-05-2010 -
Chairman of the Supreme Fiscal Committee and Chairman of Emirates Group, Sheik Ahmed Bin Saeed Al Maktoum, said that Dubai plans to centralize the debt decision making by establishing a debt management office to co-ordinate the raising of debt for th ...More...
24-05-2010 -
Sheik Ahmed Bin Saeed Al Maktoum, Chairman of Dubai Supreme Fiscal Committee, said that the debt restructuring plan of Dubai World treats all the international and local creditors without exception at all but rather equally. Then he said during the ...More...
23-05-2010 -
After paying the Islamic bond or sukuk a few days ago, the property unit of Dubai World, Nakheel may face another challenge to decide which of its planned projects needed to be cancelled.
A spokeswowan of Nakheel said yesterday that it wil ...More...
A spokeswowan of Nakheel said yesterday that it wil ...More...
23-05-2010 -
As the Dubai World said last week that it almost reached an initial deal with its creditors in a little outstanding matter of around $14.5 billion of debt, some analysts asked that if its either the beginning of the end or the end of the beginning. ...More...
23-05-2010 -
The buyers of villas in Jumeirah have been thrown into limbo by stalled construction and even a communication from the site developer.
In fact, there were hundreds of villas and townhouses in Jumeirah Village, which were nearing to comple ...More...
In fact, there were hundreds of villas and townhouses in Jumeirah Village, which were nearing to comple ...More...
23-05-2010 -
As the Dubai World said last week that it almost reached an initial deal with its creditors in a little outstanding matter of around $14.5 billion of debt, some of the analysts asked if its either the beginning of the end or the end of the beginnin ...More...
23-05-2010 -
Dubai World, the state-owned holding company by Sheik Mohammed Bin Rashid Al Maktoum, indicated that it will be able to pay its $23.5 billion of debt 8 years from now.
The announcement came as part of an agreement reached with creditors ...More...
The announcement came as part of an agreement reached with creditors ...More...
23-05-2010 -
Based on the major ratings, the debt restructuring terms reached 'in principle' the remaining creditors of Dubai World may not be persuaded at all.
Last week, Dubai World announced that the said headline economic terms have been a ...More...
Last week, Dubai World announced that the said headline economic terms have been a ...More...
23-05-2010 -
The controversial Dubai World with its property unit Nakheel has settled an agreement with its bank creditors intended to speed up the recovery of the property markets in the UAE.
So far, the seven leading bankers to the group have already ...More...
So far, the seven leading bankers to the group have already ...More...
22-05-2010 -
The head of the United Arab Emirates Contractors' Association said that the final agreement over Dubai World property unit Nakheel's debt repayment offer should be completed within two weeks.
Ahmed Saif Balhasa confirmed that Nakhe ...More...
Ahmed Saif Balhasa confirmed that Nakhe ...More...
22-05-2010 -
Last Thursday, a spokeswoman of Dubai World said that Investors who bought homes on a delayed project by its controversial property unit Nakheel are so far hiring a law firm to represent them as they seek negotiations with the company.
...More...
...More...
22-05-2010 -
The World Media reacted positively to Dubai World's debt repayment plan with its main bankers.
According to one editor of newspaper said and suggested that the European authorities should take lessons from the way Dubai World handled n ...More...
According to one editor of newspaper said and suggested that the European authorities should take lessons from the way Dubai World handled n ...More...
22-05-2010 -
The analysts said that the announcement regarding the conglomerate Dubai World which has already reached the agreement with its creditors to restructure $23.5 billion of debt will surely strengthen the economy and financial markets of the UAE as well ...More...
22-05-2010 -
According to advisers close to the company, Dubai World said that it will also make sense if some creditors will be brought on board for the settlement agreement being presented.
Moreover, Dubai World announced last Thursday that it settl ...More...
Moreover, Dubai World announced last Thursday that it settl ...More...
20-05-2010 -
For the third time, Dubai stocks increased just this week when Dubai World agreed the economic terms with a group of bank creditors to restructure its billion debts.
Emaar Properties PJSC, one of the developers that helped Dubai for bein ...More...
Emaar Properties PJSC, one of the developers that helped Dubai for bein ...More...
20-05-2010 -
The Dubai World has agreed the economic terms with its creditors over the controversial issue regarding its $ 23.5 billion debt-recapitalization plan.
Its coordinating committee of financial creditors, representing 60 per cent of the deb ...More...
Its coordinating committee of financial creditors, representing 60 per cent of the deb ...More...
20-05-2010 -
Riad Kama, Chief Executive of Arabtec Company said yesterday that it already signed the debt repayment offer of Nakheel, the property developer of Dubai World, and encouraged others to follow as soon as possible; for time is not on their side and t ...More...
20-05-2010 -
Based on the report yesterday, the Dubai World Holding which is owned by the Ruler of Dubai, Sheik Mohammed Rashid Bin Al Maktoum, already offered to pay its bank creditors with almost 30 per cent of its debt over five years and the remaining amount ...More...
20-05-2010 -
According to the report, the bank creditors already agreed to the final offer of Dubai World to settle its $14.2 billion debt that specifies the paying back of its secured loans in five years and non-secured loans over eight years.
Moreove ...More...
Moreove ...More...
19-05-2010 -
According to Colliers International, a real estate consultancy company, it said that the first increase of Dubai property prices in the first quarter indicates that there is already an upturn of economy in spite of continuous strike of crisis.
...More...
...More...
19-05-2010 -
HE Khalid bin Sulayem, Director General at the Dubai Government's Tourism and Commerce Marketing Department, commented during the official tour of The Hotel Show today, the Middle East's leading dedicated trade event for the hospitality and ...More...
19-05-2010 -
Last Tuesday, the property unit of Dubai World, Nakheel, said that it remains optimistic as long as the final settlement agreement with its trade creditors is finished.
Nakheel said in a statement when it has had a meeting with the senior ...More...
Nakheel said in a statement when it has had a meeting with the senior ...More...
19-05-2010 -
According to international survey, foreign investors choose Dubai to make an investment, for it is the first and most-preferred choice for future investments throughout the Middle East. They still believe in Dubai's economy despite the global eco ...More...
19-05-2010 -
Some analysts said that the recovery of property market in Dubai is being held up by landlords who refused to sell the property at a lower price.
Yesterday, Mohammed Kamal, the head of property for the Middle East at the law firm Hogan Lo ...More...
Yesterday, Mohammed Kamal, the head of property for the Middle East at the law firm Hogan Lo ...More...
19-05-2010 -
Colliers International said that the office space in Dubai will increase almost 80 per cent by the end of 2011.
According to J.P. Grobbelaar, Director of Middle East research for the property advisor, said that it is going to take a huge r ...More...
According to J.P. Grobbelaar, Director of Middle East research for the property advisor, said that it is going to take a huge r ...More...
19-05-2010 -
According to Riad Kamal, Chairman of Arabtec, the trade creditors of Nakheel could not see 40 per cent of their payment in cash by June unless otherwise 65 per cent of them accept the terms.
So far, 50 per cent of creditors have already ...More...
So far, 50 per cent of creditors have already ...More...
18-05-2010 -
Emaar Properties, the owner of the tallest building in the world, said that it has already started handing over the luxury apartments in the Armani Residences that includes 150 of one and two bedroom apartments which is personally designed by Giorg ...More...
18-05-2010 -
The developer of golfing community of Victory Heights confirmed that there are local lenders offering competitive mortgages on luxury villas built in three different styles such as the authentic Spanish Andalusian, bold Mediterranean, and classic Eur ...More...
18-05-2010 -
The Dubai's AAA-rated commercial and retail tower, The Opus, from which the first phase of construction work is almost complete, was developed by Omniyat Properties, one of the most innovative and prestigious developers in UAE.
...More...
...More...
18-05-2010 -
The third customer service centre of Wasl Properties, the Property Management division of Wasl Asset Management Group owned by Dubai Real Estate Corporation (DREC), is about to be opened in Al Muhaisnah district of Dubai.
The said ce ...More...
The said ce ...More...
18-05-2010 -
A few days ago, the Colliers International revealed that there was a first ever increase occurred in the market in terms of property prices in Dubai. It increased at least 2 per cent for the first time in the first quarter of this year, which is high ...More...
18-05-2010 -
In the first place, Dubai World's property unit Nakheel has already secured an agreement over 50 per cent of the total agreed claims by its trade creditors.
According to the spokesperson of the Dubai World, within a month of presentin ...More...
According to the spokesperson of the Dubai World, within a month of presentin ...More...
18-05-2010 -
Yesterday, the Institute of International Finance said that the gradual economic recovery of Dubai depends on the constant and further financial support from the Federal Government and improvements in transparency as well. In addition, it said that t ...More...
18-05-2010 -
So far, Dubai has already overcome the liquidity crisis for last 2008, but its current excess property inventory has not yet found its price.
According to latest industry research, Dubai's property prices are expected to fall another ...More...
According to latest industry research, Dubai's property prices are expected to fall another ...More...
17-05-2010 -
Asa Fitch said that the process of restructuring the Dubai World's debt, $ 24.8 billion, which almost bothered the global markets, seems to be resolved but still some of its creditors are not convinced, or agree to the settlement proposal prese ...More...
17-05-2010 -
The Palm Jumeirah is one of the man-made islands in which both residential and commercial infrastructures projects have been constructed so far.
Jan De Nul and Van OOrd, Belgian and dutch, dreging and marine contractor, were hired by Na ...More...
Jan De Nul and Van OOrd, Belgian and dutch, dreging and marine contractor, were hired by Na ...More...
17-05-2010 -
Analysts said that despite of the oversupply of units in the current year, there is an emerging for prime and retail assets as well. As predicted by Bank of America Merill Lynch, there would still be almost 44, 000 vacant units so far, even though mo ...More...
17-05-2010 -
So far, investors in Dubai must target those properties which are already finished, or rather nearer to completion date of delivery instead.
According to Chief Executive of Overseas Investment Firm, Nick Marr, said this was the best kind o ...More...
According to Chief Executive of Overseas Investment Firm, Nick Marr, said this was the best kind o ...More...
17-05-2010 -
A top official of a Dubai-based hotel said that compared to last year, there was an increase of occupancy levels in line with the hotel industry in the first quarter of this year 2010. It just proved that the said result is better than last year 2009 ...More...
17-05-2010 -
According to World Bank, the offer of Dubai World to its creditors renegotiating the debt issue will support growth and regain the confidence of investors in the markets.
In addition, its debt restructuring issue did not actually affect t ...More...
In addition, its debt restructuring issue did not actually affect t ...More...
16-05-2010 -
Memon Investments, a Dubai-based property developer and also a part of the international business conglomerate, Shaikhani Group, announced that the construction of its two residential towers in Dubai Sports City have been already in the middle of com ...More...
16-05-2010 -
The MAG Group has a residential tower named as 'MAG 218' built at a cost of AED 450 million and consisting of 555 apartments with 66 floors, which is ready to be handed over to residents.
Mohammed Nimer, CEO of MAG Group Property, ...More...
Mohammed Nimer, CEO of MAG Group Property, ...More...
16-05-2010 -
In the first place, based on the latest Colliers International report, it stated that the property prices in Dubai have already increased per annum for the first time since the economic financial downturn began in 2008.
The report revealed ...More...
The report revealed ...More...
16-05-2010 -
Last year 2008, the first ever hotel opened on the Palm Jumeirah is the Atlantis Hotel owned by Sol Kerzner's One&Only itself. It was during the hottest issue of global recession but still the said hotel never affected so far.
Mr. ...More...
Mr. ...More...
16-05-2010 -
Palm Jumeirah is one of the Palm Trilogy of prestigious man-made islands in Dubai. The other two islands are as follows: the Palm Jebel Ali and the Palm Deira.
It was set to be in the shape of a palm tree topped with a crescent, and in w ...More...
It was set to be in the shape of a palm tree topped with a crescent, and in w ...More...
16-05-2010 -
According to the sources, within two years, the limited availability of active mortgages is still holding back the recovery of the property market.
According to Mehroz Rufi, Director of Business Development, Rufi Group of Companies, said ...More...
According to Mehroz Rufi, Director of Business Development, Rufi Group of Companies, said ...More...
16-05-2010 -
There is one investor named Kasim Hammami saying that he was making a tentative investment before when he put 20 per cent down payment of AED 4.8 million on an entire floor of the planned Beachfront Living tower in Dubai's Waterfront development ...More...
15-05-2010 -
There are three properties in the world's tallest building, Burj Khalifa, will be auctioned in Beijing in early June at a starting price of 70,000 yuan per square m.
According to the Beijing Yihai Auction Co Ltd, the auction house ...More...
According to the Beijing Yihai Auction Co Ltd, the auction house ...More...
15-05-2010 -
According to the survey, business people or investors are regaining confidence so far in the UAE economic prospects, even though there is a long span between those working in Abu Dhabi and Dubai.
Based on the index by the market research ...More...
Based on the index by the market research ...More...
15-05-2010 -
Australian Chris Humphrey has lived in Dubai for seven years. He bought and sold a lot of properties with the purpose of funding his unit at Tiara Residence Apartment facing the beach and Gulf as well. He said that he will just sell the unit when h ...More...
15-05-2010 -
The latest news regarding the property developer Nakheel seeking to restructure $10.5 billion of debt has reached already the agreement with its trade creditors for more than 50 per cent of the claims, or AED 6 billion in particular.
...More...
...More...
13-05-2010 -
A spokeswoman of Dubai government said that the funds offered by Dubai Financial Support were intended to repay the $980 million Islamic bond of property developer Nakheel but with the paying agent who has a confirmed receipt of funds and at the same ...More...
13-05-2010 -
Nakheel said that it has already secured the agreement on more than 50 per cent of total agreed claims by its trade creditors. It took almost one month of presenting to its creditors the settlement agreement that offers them 100 per cent recovery of ...More...
13-05-2010 -
The property unit of Dubai World, Nakheel, is so far looking for consultants to help it assess the company's unpaid bills to contractors and suppliers and in order that the transactions of payments will be smoother and quicker as well.
...More...
...More...
13-05-2010 -
The $980 million of Islamic bond of Dubai World property developer Nakheel is scheduled to be repaid today itself. It has been expected to do even without the presence of the debt deal between the state-owned conglomerate Dubai World and its creditor ...More...
13-05-2010 -
A few days ago, Nakheel received an amount provided by Dubai Financial Support Fund to let it pay its Islamic bond which is going to mature today. Consequently, the Dubai's stocks rose for the second time this week that led gains in Gulf Ar ...More...
13-05-2010 -
The second Dubai property of Kempinski, a hotel and residence complex located on the Palm Jumeirah, is already in the last phases of delivery, and so scheduled to be launched in Autumn 2010. It is developed by EPG Hotels and Resorts, and an Internati ...More...
13-05-2010 -
Al Habtoor Leighton Group was chosen as the main contractor of Daman Investments' large-scale development project: 'The Buildings' that has 60-floor residential and commercial complex encompassing the following such as the freehold apartm ...More...
12-05-2010 -
In the last quarter of 2010, Ramada Jumeirah Dubai, a new four-star hotel with 252 rooms, is soon to be opened at the crossroads of Al Mina and Al Diyafah roads.
The said property will feature the following such as the Business Centre, and ...More...
The said property will feature the following such as the Business Centre, and ...More...
12-05-2010 -
As one of the leading hotel brands throughout the Middle East, Rotana deserved to receive the award this year 2010: World Travel Awards.
The company has been planning to open its almost 40 hotels across the Middle East but because of the ...More...
The company has been planning to open its almost 40 hotels across the Middle East but because of the ...More...
12-05-2010 -
The 396-room Ibn Battuta Gate Hotel named from the 14th century Arabian explorer, Ibn Battuta, is located at the area that heads along the emirates's west coast, embracing the specialist zones of such as Dubai's Media City, Internet City, ...More...
12-05-2010 -
The Harbor Group has already acquired the Real Estate Management Supervision Services license. It is in connection with their mission to enhance more their customer service levels of the real estate and meet the demands at a dynamic market as well. ...More...
12-05-2010 -
The Dubai's third-biggest developer by market value, Union Properties, said that the first quarter net profit of the company rose almost 67 per cent on the increased revenue just from the handover of properties in its MotorCity project itself. ...More...
12-05-2010 -
Analysts said that the prospective homeowners or foreign investors should take an advantage to buy a property this year, for by next year sellers will be reluctant to put properties for sale as the market stabilizes.
According to Charles ...More...
According to Charles ...More...
12-05-2010 -
According to the source, the company, Dubai Holding, owned by Sheik Mohammed Bin Rashid Al Maktoum, and with its units will owe from banks a $12 billion; that is, there has been a tackle to roll over some of their loans.
So far, almost th ...More...
So far, almost th ...More...
12-05-2010 -
Last Tuesday, the property developer Nakheel said that the government of Dubai has given enough funds just to repay the $980 million Islamic Bond which will be due on the 13th day of this month, May. The said financial support of the government is ...More...
11-05-2010 -
A two-tower project, Imperial Residence, of Tamer Holding in Jumeirah Village South has been completed so far.
Federico Tauber, President of Tameer Holding Investment, said that the topping out of the superstructure on both towers has b ...More...
Federico Tauber, President of Tameer Holding Investment, said that the topping out of the superstructure on both towers has b ...More...
11-05-2010 -
The developers of the delayed Marina West project are still in talks with its several investors to give the project the so-called 'fresh impetus', which are at an advanced stage with several international financial institutions as well as the ...More...
11-05-2010 -
There are two major hotel companies such as the Starwood Hotels and Action Hotels Group planning to put their investment in the GCC countries wherein there is a perfect and growing market.
As a matter of fact, Starwood has 50 hotels throu ...More...
As a matter of fact, Starwood has 50 hotels throu ...More...
11-05-2010 -
According to two bankers, they said that Dubai World will not pay the interest on outstanding loans starting this month unless otherwise its lenders agree to the $14.2 billion debt restructuring proposal.
Based on the letter by law firm ...More...
Based on the letter by law firm ...More...
11-05-2010 -
As the government of Dubai injected some amounts to Dubai World, the spokeswoman said that the sufficient support of the government for the debt plan would be enough to repay the May Islamic Bond, or sukuk.
Nakheel's sukuk is backed by ...More...
Nakheel's sukuk is backed by ...More...
11-05-2010 -
According to the source, Dubai World Holding has hired financial consultants in order to review the books of its Dubai Group unit and Dubai International Capital that has investments in companies such as the Madame Tussauds waxworks museums and Tra ...More...
11-05-2010 -
Investing in Dubai by a new type of Dubai Real Estate Investor, which is the overseas property investors set to return but as an executive points out that it will be to a different type of international real estate investor buying in Dubai's ...More...
11-05-2010 -
A bondholder said that a $980 million Islamic bond which will be due on May 13, 2010, will be repaid by Dubai World property unit Nakheel as the market expects it to happen on that day itself.
On the other hand, the state-owned holding com ...More...
On the other hand, the state-owned holding com ...More...
10-05-2010 -
UAE officials affirmed that the controversial issue of Dubai debt deal and the negotiations with its creditors will be going well and that no more major corporate restructurings are about to happen again after the final presentation of the debt p ...More...
10-05-2010 -
Dubai Holding Commercial Operations Group which is also a part of conglomerate controlled by Sheik Mohammed bin Rashid Al Maktoum has appointed financial-services firm PricewaterhouseCoopers as its Debt Advisers ahead of the potential debt restructur ...More...
10-05-2010 -
According to the latest industry report, last year Dubai has had 40 per cent revenue per available room (reVPAR), while the occupancy was recorded by Abu Dhabi at 73 per cent.
Particularly, the financial and real estate sectors predicted ...More...
Particularly, the financial and real estate sectors predicted ...More...
10-05-2010 -
Sean Taylor, the investment Director at GAM Dubai, said that valuations are based on no analysts' upgrades for earnings growth in this region, whereas over the past nine months emerging markets have seen earnings upgrade consistently.
...More...
...More...
10-05-2010 -
Compared to last year net income of the company, in the first quarter it fell to AED 134.5 million, or 11 fils a share, from AED 161.2, or 13 fils. But the main estimate of six analysts' forecasts was a profit of AED 140.2 million, and then t ...More...
10-05-2010 -
The AED 82.25 million construction contract was awarded by Schon Properties, a leading regional property developer, to Commodore Contracting LLC. It is in line with its aim to accelerate the construction within Zones 2 and 4 of the AED 3 billion Du ...More...
10-05-2010 -
So far, both the local and foreign investors are starting to look closely at Emaar Properties. Yesterday, the company's shares closed at AED 3.81. It fell down 1 per cent. But, according to Alfred Fayek, the managing Director of equity sales at ...More...
10-05-2010 -
Industry experts said that both the residential and commercial rents in Dubai and Abu Dhabi are temporarily to fall down but only in a short term.
According to Ronald Hinchey, partner of Cluttons Middle East, said also that the resident ...More...
According to Ronald Hinchey, partner of Cluttons Middle East, said also that the resident ...More...
10-05-2010 -
Analysts said that the negotiations of Dubai World with its creditors to restructure the $14 billion of debt on the new terms of payment may not be agreed because of the debt crisis in Greece.
According to Saud Masud, head of research an ...More...
According to Saud Masud, head of research an ...More...
10-05-2010 -
According to Colliers International, the property prices in Dubai's residential property market jumped up to almost 4 per cent between the fourth quarter and the first quarter of this current year 2010.
The global real estate consul ...More...
The global real estate consul ...More...
09-05-2010 -
Based on the report from Financial Times newspapares, Dubai Holding, which is an investment arm of Dubai Government, is considering the restructuring its debt up to $20 billion.
The Jumeirah Group that operates the prestigious Burj Al A ...More...
The Jumeirah Group that operates the prestigious Burj Al A ...More...
09-05-2010 -
According to Real Estate Consultancy Colliers International, the property prices in Dubai rose almost 2% in the first quarter of this calendar year 2010. It has been the first ever annual increase since the real estate market fell down in 2008.
...More...
...More...
09-05-2010 -
Omer Z. Kaddouri, senior vice president for UAE operations at Rotana, said that their plans for Rayhann Hotel are to convert it into a five-star hotel over the next five months. But first they need to build a new restaurant and make some modificati ...More...
09-05-2010 -
Sheik Ahmed bin Saeed Al Maktoum, chairman of Dubai's Supreme Fiscal Committee, said that the deal between the conglomerated Dubai World and its creditors could be finalized within two weeks. He added that the government has been in the process ...More...
08-05-2010 -
According to CB Richard Ellis, Commercial Real Estate Services Company, he reported that Dubai itself is one of the top ten most expensive office markets not only in the GCC but throughout the world.
Based on the report, Dubai has recorde ...More...
Based on the report, Dubai has recorde ...More...
08-05-2010 -
As part of debt-restructuring proposal of Dubai World, the government formed a committee of Nakheel creditors in order to deal directly with the developer.
The Islamic bond is about to be repaid by the property developer of Dubai Worl ...More...
The Islamic bond is about to be repaid by the property developer of Dubai Worl ...More...
08-05-2010 -
The property developer of Dubai World, Palm Jumeirah, and the Waterfront, Nakheel, will be going to repay the $980 million Islamic Bond to bondholders.
The 2 per cent payment on $14.2 billion of bank loans over five to eight years, which ...More...
The 2 per cent payment on $14.2 billion of bank loans over five to eight years, which ...More...
08-05-2010 -
After months of waiting the final announcement of debt restructuring proposal, there have been still lacking of several crucial details that continuously bothered the bank creditors; for they have been so worried about the interest rate itself offere ...More...
08-05-2010 -
The Indian hotel, EAST Hotels Ltd ( ETHL ), will open its first hotel with a 220-room property in Business Bay in Dubai by next year. The group has already built one of the luxurious properties in Saudi Arabia but still planning to further expand ...More...
06-05-2010 -
According to industry analysts and developers, the negative impact of global financial crisis has become UAE more mature in a sense that it has been struggling in order to face the challenges of crisis and also reforming some essential aspects in the ...More...
06-05-2010 -
The controversial property developer Nakheel is facing again with another challenge about its credit worthiness with the maturity of $980 million Islamic Bond, or sukuk, which must be repaid in order to avoid the default on May 13.
The ...More...
The ...More...
06-05-2010 -
Analysts said that there is already a sign as considered to be the beginning of the re-emergence of UAE economy; for instance, the awarding of multiple construction projects throughout the Emirates with an approximate amount of almost $1 billion. ...More...
06-05-2010 -
By the end of the third quarter of this year, another five-star resort on The Palm Jumeirah is scheduled to be open. It is the Zabeel Saray Hotel itself. It would be the second hotel to welcome guests after the first grand opening of the The At ...More...
06-05-2010 -
On October 10, 2010, there will be an opening of the new Palm Dubai property under the One; Only brand which is using ' The Arabian Travel Market ' ( AT M ).
Michael Payne, general manager of the above-mentioned company, said t ...More...
Michael Payne, general manager of the above-mentioned company, said t ...More...
06-05-2010 -
According to bankers familiar with the proposal, they said that unless otherwise the lenders agree with the said debt-restructuring plan of Dubai World, the latter will start to pay its offered interest rate on outstanding loans this month of M ...More...
05-05-2010 -
Arabtec was awarded by DAMAC Properties as a main contractor of its DAMAC Heights project at Dubai Marina. The AED 500 million contract was presented and signed already this week and the construction will start as soon as Zetas completes the enabling ...More...
05-05-2010 -
The oversupply of residential real estate units in some areas in Dubai such as the Palm Jumairah and Dubai Marina that performed better than other parts of the emirate during the past six months has caused the rents lower. According to the report f ...More...
05-05-2010 -
So far, the office landlords in Dubai are making their own strategies such as an offering of attractive incentives, including free periods of up to two years on five-year leases as they compete for their tenants.
According to the property ...More...
According to the property ...More...
05-05-2010 -
Some real estate agents said that because of the rental market in Dubai is stabilizing, many expatriates or even locals have been transferring from Sharjah and other neighbor emirates to Dubai itself. For instance, some employees working in Dubai ...More...
04-05-2010 -
Based on the report of unidentified member of the negotiating committee of creditor banks, the 1 per cent interest rate offered by Dubai World was unchanged.
But most of the banks accepted the offer after studying the size of the r ...More...
But most of the banks accepted the offer after studying the size of the r ...More...
04-05-2010 -
According to IMF economists, they are predicting that the repaying of Nakheel's Islamic Bonds may not revive the so-called sukuk market this calendar year 2010, for the maturity of its payments will be due this month and next year.
E ...More...
E ...More...
04-05-2010 -
Gerard Lawless, the hotelier's executive chairman, said that Jumeirah Group is planning to open the first hotel under its new Venu brand within the next twelve months.
As a matter of fact, the hotelier operates the following hotels: ...More...
As a matter of fact, the hotelier operates the following hotels: ...More...
Union Properties’ profit increasing in the first quarter thru the handover of its project: MotorCity
04-05-2010 -
Dubai's third-biggest developer by market value, Union Properties PJSC, said that in the first quarter itself, their profit rose to 67 per cent on increased revenue; that is, when its MotorCity project was completed and delivered.
In ...More...
In ...More...
04-05-2010 -
The Majid Al Futtain ( MAF ) Group LLC, a leading retail, property and investment company, plans to invest $3.5 billion in the next five years to develop four shopping malls in four countries such as UAE, Egypt, Lebanon, and Syria. The comple ...More...
04-05-2010 -
Union Properties, Dubai's third-largest developer, reported that in the first quarter of this calendar year, the net profit of the company increased to Dh 50 million, compared to Dh30 million from the same period last year.
It incr ...More...
It incr ...More...
04-05-2010 -
According to analysts, the Dubai World is still in talks with a core panel of seven banks, five foreign and two local banks that represent the 97 creditors, just for restructuring its $26 billion in debt and offering an additional 1 per cent intere ...More...
03-05-2010 -
Analysts stated that so far the Dubai World is still in talks with its creditors and lenders. Although it has already revised the offer for them, the involved banks remain dissatisfied with the terms being presented and offered.
At thi ...More...
At thi ...More...
03-05-2010 -
A spokeswoman of Dubai Department of Finance said that Nakheel may pay for the Islamic Bonds with Dh3.6 billion on May 13 in spite of the fact the its parent Dubai World doesn't reach a formal debt-restructuring agreement, that is, at least 65 ...More...
03-05-2010 -
The owner of Dubai International Financial Centre Tax-free business park, DIFC Investments LLC, posted a $ 561.4 million-loss last year when the real estate market collapsed because of the impact of economic crisis.
Chairman Ahmed ...More...
Chairman Ahmed ...More...
03-05-2010 -
Based on the report, in the first quarter of this calendar year 2010, Dubai Union Properties' profit increased to 66 per cent.
In comparison, the developer reported a net profit of Dh 50 million in the first three months of this year ...More...
In comparison, the developer reported a net profit of Dh 50 million in the first three months of this year ...More...
03-05-2010 -
Simon Coper, CEO of HSBC Bank Middle East Ltd, said that the proposal of Dubai World to restructure $24.8 billion of its borrowings is very fair.
He added that there would be no reasons not to sign or agree to the proposal as early as possible, ...More...
He added that there would be no reasons not to sign or agree to the proposal as early as possible, ...More...
03-05-2010 -
Yesterday, there were conference and trade exhibition for the retail real estate sector attended by high profile audiences and almost 250 delegates from around the Gulf.
Regional Director of Middle East Council of Shopping Centres, Ms.K ...More...
Regional Director of Middle East Council of Shopping Centres, Ms.K ...More...
03-05-2010 -
There is one construction company in Dubai that has revived its property development plans. It has had a plan to construct two towers for both commercial and residential
YD Murphy, NCC's senior vice-president, said that the company ha ...More...
YD Murphy, NCC's senior vice-president, said that the company ha ...More...
02-05-2010 -
According to CEO Marwan bin Ghalifa of RERA, Real Estate Regulatory Agency, he said that the agency has already begun asking some master developers of several projects which are not yet being started so far, why their projects are still on-hold; and ...More...
02-05-2010 -
According to Joseph Ghassoub, head of the International Advertising Association, said last Friday that advertising firms agreed to Nakheel's mechanism on how to repay its trade creditors by presenting its restructuring proposal.
What ...More...
What ...More...
02-05-2010 -
Mohamed Nimer, CEO of MAG Group Property Development, said that the key to possible recovery of Dubai's Real Estate Market will be greater transparency and tougher regulations, or rather to improve the liquidity, reassure and protect the legitima ...More...
01-05-2010 -
In Jebel Ali, there is a $13 billion project which has been quietly making progress, and developed by Limitless, one of the property arms of Dubai World.
According to Salah Ameen, deputy executive director for Limitless in the Middle Ea ...More...
According to Salah Ameen, deputy executive director for Limitless in the Middle Ea ...More...
01-05-2010 -
Analysts said that as the Dubai World is still in talks to restructure its $26 billion in debt, it has revised the offer for its lenders.
According to the source, the offer is for a 1 per cent interest rate and 1 per cent payment-in-ki ...More...
According to the source, the offer is for a 1 per cent interest rate and 1 per cent payment-in-ki ...More...
01-05-2010 -
The real estate sector throughout GCC has witnessed a period of rapid expansion that resulted an attractive opportunity for both local and foreign investors. The sector itself has been also what gave Dubai popularity since its booming period began, ...More...
29-04-2010 -
According to a banker familiar with the plan, he said that Dubai World offered to pay its creditors an additional 1 per cent interest upon the maturity of the rolled-over loans which are part of $14.2 billion debt restructuring.
He ad ...More...
He ad ...More...
29-04-2010 -
The CEO of Arabtec Construction company accepted the debt repayment offer of cash and new debt by property developer, Nakheel, last Wednesday.
Riad Kamal confirmed to Reuters a report that largest contractor in the United Arab Emirates ...More...
Riad Kamal confirmed to Reuters a report that largest contractor in the United Arab Emirates ...More...
29-04-2010 -
According to the panel's chief, the new finance team formed by the government of Dubai has been assembled and will be having a meeting just to draw up its first recommendations for the improvement of Dubai in the forthcoming weeks.
...More...
...More...
29-04-2010 -
Provided that 65 per cent of creditors sign up the settlement agreements presented by Dubai World, its property unit, Nakheel, will be starting to pay its contractors. So far, some trade creditors have already signed up.
When the gover ...More...
When the gover ...More...
29-04-2010 -
As part of the restructuring proposal of Dubai World, the government of Dubai will inject $9 billion into it in order to pay its billion of debt, $23.5, but the $8 billion from the said amount offered will be given to its property unit itself, Nakh ...More...
28-04-2010 -
One of the trade creditors of Dubai World, Al-Ghurair, will begin to receive any installed payments this coming June from property unit of DW, Nakheel.
According to the top official from the company, he said that the 10 per cent pro ...More...
According to the top official from the company, he said that the 10 per cent pro ...More...
28-04-2010 -
Last Tuesday, the board of Dubai World property developer, Nakheel, and its chairman, were replaced as the emirate pushed forward with restructuring its debt-saddled chief conglomerate in order to maintain the good reputation of Dubai as a re ...More...
28-04-2010 -
According to Jones Lang LaSalle, in order to have a more and mature market in the line of real estate sector, consolidating, restructuring and commercializing must be applied in Dubai.
One consultancy in its global perspective report ...More...
One consultancy in its global perspective report ...More...
28-04-2010 -
So far, the trade creditors of the property developer, Nakheel, started signing the settlement agreements between them to receive the following payment in the form of cash and new debt.
The state-owned Dubai World is in talks with its lend ...More...
The state-owned Dubai World is in talks with its lend ...More...
26-04-2010 -
Oman's Central bank governor said that Dubai World owed $49 million from their different banks, and added that if the loan maturities are extended, the banks will be asked to book provisions.
Last March 25, Dubai World asked its almos ...More...
Last March 25, Dubai World asked its almos ...More...
26-04-2010 -
The launch of a construction-linked payment plan for the worth of AED 3 billion Project, Dubai Lagoon, of Schon Properties has been approved by the Real Estate Regulatory Agency; and which is located in Dubai Investment Park (DIP).
The ann ...More...
The ann ...More...
26-04-2010 -
Last Monday, a representative from Dubai Lagoon Investors Committee welcomed the offer made by Schon Properties, which is a new construction-linked payment scheme. In order for it to happen, the construction must be resumed primarily.
...More...
...More...
26-04-2010 -
Last Monday, a representative from Dubai Lagoon Investors Committee welcomed the offer made by Schon Properties, which is a new construction-linked payment scheme. rder it to happen, the construction onsite must be resumed primarily. He added that si ...More...
25-04-2010 -
According to the source, the property developer of Dubai World, Nakheel, is planning to offer almost 10 per cent return on an Islamic Bond to its trade creditors, which is just a starting point for negotiations with them.
The $9.5 billio ...More...
The $9.5 billio ...More...
25-04-2010 -
So far, there are already a lot of professional women currently involved in the property sector which has been considered as only man's expertise especially in the Arab country such as UAE in particular.
For instance, there is a list ...More...
For instance, there is a list ...More...
25-04-2010 -
According to an industry report, residential market will probably recover by next year but on the other hand the office vacancies with rents and capital values are still under pressure.
Jones Lang LaSalle's Dubai Real Estate Marke ...More...
Jones Lang LaSalle's Dubai Real Estate Marke ...More...
25-04-2010 -
Arab world's largest listed developer, Emaar Properties, announced that its net profit is more than triple. It soared almost 221 per cent only in the first quarter of 2010. The profit in revenue has come in from hospitality and retail business. ...More...
24-04-2010 -
Danial Schon, vice president of Schon Properties, assured the buyers of flats from their project, Dubai Lagoon, that they are liable to swap into apartment blocks with complete details of the property and confirmed date of completion.
He ...More...
He ...More...
24-04-2010 -
About the said restructuring proposal of Dubai World, some might consider it as a deal-breaker but actually it is not; but rather it is just a part of solving its billions of dollars of debts.
But the fist time when it was presented by A ...More...
But the fist time when it was presented by A ...More...
24-04-2010 -
There were two concerned citizens familiar with the restructuring proposal saying that Nakheel, the property developer of one of the emirate's three main state-owned holding companies, Dubai World, is going to pay an annual return of 10 per c ...More...
24-04-2010 -
Within two years of struggling from the financial crisis in Dubai, there has been news that pleased and made all the Middle Eastern Investors confident once again in the property market.
Some developers are planning to focus more on ...More...
Some developers are planning to focus more on ...More...
22-04-2010 -
So far, good property with good location, either under construction or nearer to completion date, is more preferred choice of both domestic buyers and some foreign investors than fully-furnished unit but not in the good location in which the invest ...More...
22-04-2010 -
Because of Dubai World's debt, it affected too much the economy of Dubai in particular. That is why the International Monetary Fund (IMF) doubled its UAE growth for this year.
According to IMF, last year the economic growth of UAE ...More...
According to IMF, last year the economic growth of UAE ...More...
22-04-2010 -
According to the report of Jones Lang LaSalle, by 2011 Dubai residential market prices are likely to recover from its current downturn status. This year 2010, there are 22,000 residential units to be delivered and 25,000 by next year. So far, real ...More...
22-04-2010 -
Real Estate Market is one of Dubai's assets that make it strong in terms of good economy. Residential and Commercial properties so far have high demand and are constantly growing up in spite of the impact of the crisis. But all people know that ...More...
21-04-2010 -
According to International Real Estate Consultants, Jones Lang LaSalle, the growth of total number of hotel rooms in Dubai until the year 2012, which will be approximately 54,751, implies that there is at least a constant recovery in a commercial p ...More...
21-04-2010 -
Real Estate Sector has been the most intensive investment since the sheikdom emirate transformed to be the core of economy, tourism, trading, and investment. But when the world economic crisis came, Dubai has been one of those cities affected of its ...More...
21-04-2010 -
Zawya Dow Jones reported that in order to avoid the default for the Islamic Bond issued by its property main developer, Nakheel, the investors are betting the Dubai World to pay it off with $ 980 million in accordance with its restructuring proposal ...More...
21-04-2010 -
According to one industry expert, unless otherwise the small and medium enterprises can secure bank loans to finance their start-ups, they could not demand for either office space or affordable residential property in the UAE.
Mohammed N ...More...
Mohammed N ...More...
21-04-2010 -
The transformation of UAE's property trade into an end-user market because of ongoing corrective measures was observed by The Specialists, which is a real estate solutions provider.
The Specialists noted that more real estate devel ...More...
The Specialists noted that more real estate devel ...More...
20-04-2010 -
There were two companies awarded by one real estate developer: Berkeley Services for the cleaning and support services, and Group 4 for taking care of security services.
Ani Vladi, the property manager of the Tower, said that as their ...More...
Ani Vladi, the property manager of the Tower, said that as their ...More...
20-04-2010 -
Dubai's Real Estate Custodians have decided to reform the property guidelines after several months ago since the financial economic crisis began in 2009. Their purpose is to make the real estate sector in UAE more professional and will regulate t ...More...
20-04-2010 -
According to findings of Fourth Investor Sentiment Survey from Jones Lang LaSalle, at this point in time, the number of buyers of assets or properties in MENA real estate is more than the sellers'.
Moreover, institutional investors ...More...
Moreover, institutional investors ...More...
20-04-2010 -
Nomura says that the UAE is now starting to emerge from global economic crisis because of debt-restructuring proposal $ 24.8 billion of Dubai World, which is likely to urge recovery in business and consumer confidence.
According to Ann ...More...
According to Ann ...More...
19-04-2010 -
According to Emirates Fortune Group ( EFG ), Dubai-based holding company, it is so positive with regards to UAE property market. The said company is also very interested to invest to different countries such as UAE, United Kingdom, United States, ...More...
19-04-2010 -
Based on the report, Nakheel, one of the big developers operating in UAE, will pay its contractor, Arabtec Construction Company, with 40 per cent of the total amount of its debt.
Tom Barry, CEO of the said company, said that they hav ...More...
Tom Barry, CEO of the said company, said that they hav ...More...
19-04-2010 -
After almost six months of facing the challenges of financial crisis, local and international investors are still showing their interest in the real estate markets across the Middle East and North Africa ( MENA ) region. So far what they are dreaming ...More...
19-04-2010 -
According to the latest market analysis, Proleads Global, stated that there are still on-going 1, 296 projects worth almost $ 418 billion and have currently been built in UAE.
But the total state of civil construction market throughout UA ...More...
But the total state of civil construction market throughout UA ...More...
18-04-2010 -
There are some rich individuals in UAE who also invested same as the foreign expatriates and having an investment strategy in the property sector. But still they are in the state of choosing either to invest in the local real estate market or ...More...
18-04-2010 -
According to reports, the interest rate being offered by Dubai World was not accepted by its creditors but rather they suggested make it higher than one per cent. The said offer has been a part of restructuring debt of the firm.
So far, ...More...
So far, ...More...
17-04-2010 -
Because of the power of media, the news about the rising of rental prices in UAE was propogated, and so it implies that the economy in Dubai, for instance, has been gradually emerging again in spite of the so-called "financial economic crisis". ...More...
17-04-2010 -
According to the source, Dubai World Holding Company with its creditors met for the first time as to tackle the details regarding the debt-restructuring plan. The said company were requesting to reschedule the payment of its debt over five to e ...More...
15-04-2010 -
There are two attractive areas located in the land of Dubai such as Jumeirah and Umm Suqueim, wherein some residents have appreciated the place well. So many investors, buyers, and tenants are very interested to be part of one of those mentioned co ...More...
15-04-2010 -
Nakheel, the main property developer of man-made palm islands, which is The Dubai World, is planning to pay the debt to its bank and trade creditors by June 2010. But according to the source, its restructuring proposal was not approved yet by the cre ...More...
15-04-2010 -
According to a financial expert, the problem regarding the huge debts of the controversial project, Dubai World, will not be resolved unless otherwise its restructuring proposal is completely accepted by the bank and trade creditors.
B ...More...
B ...More...
15-04-2010 -
Based on the latest survey, Dubai was ranked by some institutional investors as the most competitive city throughout the Middle East and North Africa (MENA) in terms of real estate sector because of its being most open city both for real estate m ...More...
14-04-2010 -
According to the Chief Economist of Dubai International Financial Centre, he stated that Dubai can manage its debts after receiving a financial assistance from either Central Bank or its rich neighbor-Emirate, Abu Dhabi.
Nasser Said ...More...
Nasser Said ...More...
14-04-2010 -
Analysts said that the injection of the government of Dubai, $ 9.5 billion, to the DW and its developer, Nakheel, will do a little improvement to the status of property market in Dubai so far.
Some of the amount will be given to Nakheel ...More...
Some of the amount will be given to Nakheel ...More...
14-04-2010 -
The Director of MENEA ( Middle East Near East Africa ), Alan England, said that nowadays people have been managing their assets more carefully than before. Thus, it implies that they are taking stock of their assets.
The so-called Taqyeem ...More...
The so-called Taqyeem ...More...
13-04-2010 -
According to the analyst, as the government of Dubai formed a new team for its financial planning, it is being considered as one way in order to regain the trust and confidence of local and foreign investors in UAE.
Actually, the main ...More...
Actually, the main ...More...
13-04-2010 -
There is a real estate company very interested to make an investment here in Dubai. The real name of the company is: Tasweek Real Estate Development and Marketing Company, which is currently based in Abu Dhabi, UAE.
Based on the ...More...
Based on the ...More...
13-04-2010 -
According to the report of ASTECO, there is something good in real estate sector happened and manifested that it has been emerging again from the bottom status in the property market since March 2009 except for the offices.
Based o ...More...
Based o ...More...
12-04-2010 -
Based on the latest survey from one of the real estate websites, Dubai Marina is still the top one in rank as a first choice of investors, renters, and buyers as well; and then followed by Jumeirah Lake Towers, Palm Jumeirah, Jumeirah Beach Residence ...More...
12-04-2010 -
The CEO of Abu Dhabi Commercial Bank said that the creditors of DW will be going to respond within this week to its restructuring proposal of $ 24.8 billion in debt.
Last March 25, the government pledged $ 9.5 billion in cash to Du ...More...
Last March 25, the government pledged $ 9.5 billion in cash to Du ...More...
12-04-2010 -
Since the controversial issue about the huge debt of Dubai World Holding Company, Dubai has created a team which is to make a fund and financial plan at the same time for the above-mentioned company.
According to Jamal Al Marri, directo ...More...
According to Jamal Al Marri, directo ...More...
11-04-2010 -
Emaar Properties, the biggest realty developer in UAE., said that real estate market needs another 12 months in order to recover from the outbreak of economic financial crisis.
According to Mohammed Alabbar, chairman of developer, he said ...More...
According to Mohammed Alabbar, chairman of developer, he said ...More...
11-04-2010 -
According to Deutsche Bank, as the property prices in Dubai continue to decrease because of what we called " oversupply "of demand but, on the other hand , the home rents are continuously holding up its prices with the demand from residents of its ne ...More...
11-04-2010 -
There are 20 Spanish Companies based in Madrid will visit UAE with passion of making investments but they will look first for any investment opportunities when they come here.
The Madrid Chamber of Commerce is the one that has been organ ...More...
The Madrid Chamber of Commerce is the one that has been organ ...More...
11-04-2010 -
Laura Choueri, CEO of Choueri Real Estate, which is a Dubai-based broker company, said that the company has been working with a group of real estate fund managers and each of them shared some amounts and put together in excess of $ 100 million. T ...More...
10-04-2010 -
The largest developer in the region, which is the Emaar Properties, is so far in planning to negotiate and roll over Dh 4.5 billion worth of shortened term debt. The said debt will be due over the next 12 months.
According to analyst ...More...
According to analyst ...More...
Elongation of visa and more loans will somehow entail ‘recovery’ of Real Estate Sector in the market
10-04-2010 -
Experts are suggesting that more loans and elongation of visa for foreign buyers will help recover the property market in United Arab Emirates and so does the state aid. Furthermore, they will help it recover from the controversial crisis in the wo ...More...
10-04-2010 -
According to the Vice Chairman of Emirate fiscal body, he said that the government of Dubai can pay the debt of DW and help even other state-linked firms that may be also facing small issues regarding debts. The government confirmed its support to ...More...
07-04-2010 -
According to Director General of the Finance Ministry, Younis Al Khoori, said that if there is still a crisis to come in Dubai and throughout the world, UAE banks still have enough capital to face it.
Because of the outbreak of ...More...
Because of the outbreak of ...More...
07-04-2010 -
The Emirates Airline and Group said yesterday that its construction for Emirates Park Towers project has been on-going in spite of the current status of Dubai, for it is not so much affected by economic financial crisis in the world. The project ...More...
07-04-2010 -
The Emirates Fortune Group Advisor said that the GCC (Gulf Co-operation Council) fund is planning to invest Dh 500 million in Dubai property but only in non-freehold areas such as Deira and Bur Dubai. The information was stated by the Managing Dire ...More...
06-04-2010 -
Nowadays the investors in Dubai are still hoping that the real estate investments will emerge again little by little in the market regardless of global financial crisis.
Jesse Downs, Director of Research and Advisory Services, said t ...More...
Jesse Downs, Director of Research and Advisory Services, said t ...More...
05-04-2010 -
The chairman of the property developer of Dubai World, which is Nakheel, was replaced by Ali Rashid Ahmad Lootah, the vice chairman of Mashreqbank.
There were also four new members appointed as Board Members. They are as follows: Kh ...More...
There were also four new members appointed as Board Members. They are as follows: Kh ...More...
04-04-2010 -
As the government of Dubai offered $ 9 billion to the main developer of Palm Jumeirah, Nakheel still expressed and showed hope to all investors of the said project.
Nakheel clarifies that some of the amount offered by the governme ...More...
Nakheel clarifies that some of the amount offered by the governme ...More...
01-04-2010 -
Stephen Hestler, the CEO of the Royal Bank of Scotland said that the restructuring proposal of Dubai World for its debt implies a positive development and there is a possibility for it to be accepted by the creditors because of its persistence with t ...More...
01-04-2010 -
With the government of Dubai, the restructuring plan for $23.5 bn of debt owed by Dubai World conglomerate to different creditors was presented last March 25.
After a few months ago, the government and its internal resources offered $ 9. ...More...
After a few months ago, the government and its internal resources offered $ 9. ...More...
01-04-2010 -
Within this year new guidelines for property valuations in Dubai are being planned to be changed in order that the real estate industry in UAE will no longer experience what it has been experiencing so far.
By drafting the appropriate ...More...
By drafting the appropriate ...More...
31-03-2010 -
One of the largest creditors, HSBC, predicted that there will be no hindrance for the state - owned conglomerate Dubai World to deal with its creditors through the presentation of restructuring plan of debts.
Chairman of the Banking Gr ...More...
Chairman of the Banking Gr ...More...
31-03-2010 -
Last November 2009, the Dubai World asked a pardon for its debt payment to investors. When this news came out, the world financial markets surprisingly knew it. For this reason, there would be a slow recovery for real estate investments to boom a ...More...
30-03-2010 -
Yesterday the government spokesperson said that the Dubai World gave a partial guarantee to its creditors.
As the government of Dubai injecting $ 9.5 billion, the Dubai World said that it would repay the debts to its creditors in full with ...More...
As the government of Dubai injecting $ 9.5 billion, the Dubai World said that it would repay the debts to its creditors in full with ...More...
29-03-2010 -
By way of reselling the land given to some UAE nationals, as the government is planning to allow them to do so, it may probably attract some investors who are not active in the property market.
Each owner of either industrial or comm ...More...
Each owner of either industrial or comm ...More...
29-03-2010 -
Based on the positive result after the presentation of restructuring plan of Dubai World, Financial Consultant at Al Fajr Securities, Humam Al Shamaa said that the stock markets in the UAE may receive 17 Billion Dirhams in the next two months ...More...
29-03-2010 -
In order to finish the postponed developments of Dubai World, the developer, Nakheel Company, stated that they needed $ 1.5 billion to be spent so as to continue its construction for the man-made islands called ' The Dubai World '. The Ch ...More...
28-03-2010 -
The creditors of Dubai World expressed themselves that before they will decide to accept the restructuring plan, they have to know first the complete details of the said proposal.
As the result is so positive, they will surely ask about ...More...
As the result is so positive, they will surely ask about ...More...
28-03-2010 -
According to analysts, the restructuring plan of debts for Dubai World and Nakheel could be managed by any banks in the UAE.
The government of Dubai announced its proposals for those 97 banks and financial institutions regarding the rep ...More...
The government of Dubai announced its proposals for those 97 banks and financial institutions regarding the rep ...More...
28-03-2010 -
The support of Dubai government is a big part of its recovery from the economic crisis especially its aid regarding the billion of debts so far of Dubai world to the developer of the project, Nakheel Company. Now Dubai has been implementing the res ...More...
27-03-2010 -
As best known in the world economic markets, Dubai has already moved on. It has been trying to rise again from the negative results of global crisis and bring back its good reputation in the world as the choice of different investors in terms of ...More...
27-03-2010 -
If the creditors accept the debt-restructuring proposal of Dubai World, the sector of Real Estate in Dubai will prosper again.
$ 9.3 billion was implemented by the government of Dubai just as a support to conglomerate Dubai World to pay ...More...
$ 9.3 billion was implemented by the government of Dubai just as a support to conglomerate Dubai World to pay ...More...
27-03-2010 -
Despite of the fact that Dubai has been in the state of surviving from economic crisis and from its huge debt, the Dubai World is still protecting it.
The Dubai government will provide as much as $ 9.5 billion for Dubai World as partial ...More...
The Dubai government will provide as much as $ 9.5 billion for Dubai World as partial ...More...
25-03-2010 -
Last Thursday, the Dubai Government said that $ 9.5 billion will be given as aid for Dubai World, which is a part of its restructuring plan to save from a billion of debt from the banks.
Sheik Ahmed Bin Saeed Al Maktoum, Chairman of Dubai ...More...
Sheik Ahmed Bin Saeed Al Maktoum, Chairman of Dubai ...More...
25-03-2010 -
A few months ago, Dubai shares to the market improved in more than two months and let the investors gain confidence once again regardless of global crisis because of the trusting proposal of Dubai World.
As part of restructu ...More...
As part of restructu ...More...
25-03-2010 -
Last March 23, the plans for restructuring the $26 billion debt by the Debt-Laden-Dubai were presented to creditors.ASAS Chief Investment Officer, Robert McKinnon, said that mostly nowadays people will be looking forward for anything which is n ...More...
25-03-2010 -
One of the property developers in Dubai, which is the Al Barani, is still continuing its transactions in spite of the Economic Crisis in the property market. It means that the said company has not been affected by the outbreak of global crisis. ...More...
16-03-2010 -
According to Governor Sultan Bin Nasser Al Suwaidi said that Dubai will no longer need the support of United Arab Emirates Central Bank; for the Federal Government is capable to face the future crisis.
But after the global credit market ...More...
But after the global credit market ...More...
16-03-2010 -
Through the support of Dubai Land Department, all UAE nationals are eligible to own either industrial or commercial properties. It is generally granted by the Government of Dubai.
Last Monday, Shaik Mohammed Bin Rashid Al Maktoum, th ...More...
Last Monday, Shaik Mohammed Bin Rashid Al Maktoum, th ...More...
16-03-2010 -
The rate status of rentals in Dubai has been starting to recover from financial economic crisis because of the reason that it expanded and gained with almost 6.5 percent on February 2010 compared to last year rate, which was only 6 percent.
...More...
...More...
15-03-2010 -
Chief Executive Markus Giebel, Deyaar Development PJSC, is working with the contractors to agree with the payment plan for 100 million dirhams.
As far as the builders and suppliers are concerned, the Dubai based developer, is having a nego ...More...
As far as the builders and suppliers are concerned, the Dubai based developer, is having a nego ...More...
15-03-2010 -
In spite of the fact the Dubai was one of the affected places of business investments, there are female enterpreneurs and business women having ideas in some ways to help Dubai arise again from the financial economic crisis.
Internatio ...More...
Internatio ...More...
15-03-2010 -
In London, the Developer Pearl Dubai FZ LLC is planning to attract international investments for its $ 4 Billion funds for development in Dubai.
The company is making a business strategy by marketing its residential units for pre-sale to ...More...
The company is making a business strategy by marketing its residential units for pre-sale to ...More...
15-03-2010 -
Yesterday, there were Middle East Markets emerged because of the firm oil prices and positive world sentiment.
The $26 billion in debt of Dubai World is about to repay it through its link to property units, which are the Limitless and Na ...More...
The $26 billion in debt of Dubai World is about to repay it through its link to property units, which are the Limitless and Na ...More...
15-03-2010 -
According to Asteco, the rental of properties in dubai reflects locally and internationally a several years ago.
Al Muraqqabat Apartments were the earliest appointments of Asteco in terms of leasing and management agents last 1985. Becau ...More...
Al Muraqqabat Apartments were the earliest appointments of Asteco in terms of leasing and management agents last 1985. Becau ...More...
15-03-2010 -
Shaik Hamdan Bin Rashid Al Maktoum, the Deputy Ruler of Dubai and Minister of Finance, stated that the Federal Government of UAE is wiiling to help Dubai anytime if ever it needs its support. So far Dubai has not been asking yet for support from th ...More...
15-03-2010 -
There will be one of the biggest property funds being launched by prominent Matrix Property Middle East with the amount of almost 1.1 Billion Dirhams.
The said fund is still in the process so far and is being registered at the Qatar Financ ...More...
The said fund is still in the process so far and is being registered at the Qatar Financ ...More...
14-03-2010 -
Two weeks later, one of the luxurious and prestigious mansions in Palm Jumierah in dubai was purchased by the 11-year old boy.The said propetry worth of $ 44 million.The richest boy was identified by Dubai Land Department Resource as Heydar Aliyev, ...More...
14-03-2010 -
In spite of the pressure caused by the global financial crisis in the Real Estate Investments, Markus Giebel Deyaar, the head of Dubai's second largest developer, said that nobody can underestimate the strength of the Emirates and can rule ou ...More...