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Oversupply Is Helping Tenants In Abu Dhabi To Enjoy Better Value For MoneyFriday, April 27, 2012 The low value of property in Abu Dhabi and the prediction of further fall in prices is helping renters to enjoy a better lifestyle in Abu Dhabi at low costs. The new supply of almost 23,900 units is scheduled to hit the market during this year in Abu Dhabi. Though many projects can be delayed yet this supply is expected to cause further declines in rents across many areas. This would help tenants ... more |
Cityscape Abu Dhabi Concludes On WednesdayThursday, April 26, 2012 The sixth edition of Cityscape Abu Dhabi closed on a positive note on Wednesday, bringing an end to a successful real estate event of the development and announcements both for local and international investors. Several UAE based developers have showcased their developments to visiting investors and partners from over 80 countries.
One of them was Sorouh Real Estate, which launched its retail pr ... more |
Developers To Refund All Al Salam City InvestorsThursday, April 26, 2012 The developers of Al Salam City project in Umm Al Quwain city have shown their consent to refund all the investors of the project. The US$ 8.16 billion project was started seven years ago and has been left incomplete ever since. Of the total estimated cost of the project, the board of directors of Umm Al Quwain Real Estate Development LLC has already refunded over US$ 109 m to over twenty three hu ... more |
Glimpse Of Hope For 291 Halted ProjectsThursday, April 26, 2012 Reports released by the Real Estate Regulatory Authority have revealed that 291 real estate project in Dubai, which are on hold, could be resumed soon.
These projects were ceased one year after the real estate crash hit the Emirate in 2008. The RERA experts believe that the real estate market and ceased projects need revaluation.
Other than issuing clearance certificates to as much as 165 h ... more |
More Warehouses Needed In The UAEWednesday, April 25, 2012 The demand for onshore and free zone warehouses is seen on rise in the UAE. According to the latest news and reports about logistics and industrial market of the region, there is a limited supply in the market, the larger warehouse facilities are especially too rare to find.
This data stresses on the need of more infrastructure to aid the robust business and industrial development observed la ... more |
Lease-To-Own Apartments Available At The Residence, St Regis Saadiyat Island ResortWednesday, April 25, 2012 The Residences offers lease-to-own programme at the St Regis Saadiyat Island Resort. The programme will continue for three years and the future owner of the house will pay a fixed amount set in the agreement. These conditions have been set by the developer of the community i.e. the Tourism Development and Investment Company (TDIC).
The details issued by the developer mention that if a tenant c ... more |
Around 2800 Residential Property Units Are Delivered In Abu Dhabi Just In Q1Tuesday, April 24, 2012 An over-supply like situation is created in Abu Dhabi by delivering more than 2800 residential property units just during the initial three months of 2012 and many more are in the pipeline as per a report.
New property units that are planned to deliver in Abu Dhabi during the upcoming months are within Al Zeina & Al Muneera on Al Raha Beach, St. Regis Apartments on Saadiyat Island, apartments ... more |
Abu Dhabi Office Rents - From Steep Crash To Slowed Drop In 2012Monday, April 23, 2012 As per Cluttons the rents in Abu Dhabi office market saw steep falls in the year 2011 but the rental amounts are set to rebound due to high quality developments coming to market in year 2012.
The report also revealed that rents for non-prime commercial properties have fallen by almost 15 percent since the beginning of 2012 in Abu Dhabi. The rate of fall was not consistent across the commercial ... more |
Landlords Are Optimistic About The Rental Rates In SharjahMonday, April 23, 2012 Cluttons, a real estate consultant, says that the supply of new residential units has slowed down in Sharjah and many quality buildings in the prime locations are on the waiting list. Owing to these two reasons, it is expected that the rental rates in Sharjah would increase over the next few months.
It has been highlighted that occupancy rates are already 100% in areas like Al Nahda and others ... more |
The Property Show, Cityscape Abu Dhabi Has OpenedSunday, April 22, 2012 When the UAE’s property market under oversupply pressure, a major property show Cityscape has recently opened in Abu Dhabi. The show opened with a simple ceremony inaugurated by Sheikh Hazza, who is the vice-chairman and National Security Advisor of Abu Dhabi Executive council. The property show has started on Sunday and it would end on Wednesday making it a four day event.
The chief guest of ... more |
New Report Claims Dubai Property Prices Finally Back To Their Peak LevelsFriday, April 20, 2012 Jones Lang LaSalle report says that the price of the residential real estate in Dubai is hitting bottom level. These bottomed out prices are touching levels not seen since early 2008. The firm also says that the villa prices have soared up by 3% in the Q1 of 2012 as compared to the peak in Q3 of 2008. Despite that, the prices still remain 25% lower, says the firm in its quarterly overview of the D ... more |
Sharjah Gets An Auto Park Of Its OwnFriday, April 20, 2012 Giga investments, a Dubai based developer announced the launch of Sharjah Auto Park project. This project is a joint venture of Giga investments and Al Hanoo, a Saudi developer.
The Sharjah Auto Park will have total investment of Dh 1.5 billion and the project is designed to facilitate a state-of-the-art automobile business hub that covers all industrial requirements of the UAE. Giga investments ... more |
Price Stabilisation in 2012 - Separating Facts From Fiction!Wednesday, April 18, 2012 |
Full Home Financing In The UAE Is Expected To Have ‘Minimal’ ImpactWednesday, April 18, 2012 |
Dubai Offices Vacancy Level Is Exceeding 40%Monday, April 16, 2012 |
Poll Reveals One Third Residents Not Being Charged Housing Fee In DubaiMonday, April 16, 2012 |
Nakheel Launches A New Luxurious Project On Palm JumeirahSunday, April 15, 2012 According to news, Nakheel has launched a new project on Palm Jumeirah with the name ‘Palma Residences’. Since completion of the massive restructuring process, this would be the first major luxurious residential project launched by Nakheel. The chairman of the Nakheel, Rashid Ali Lootah said, that 30 units in the projects have been sold already. He has also highlighted that the project is expected ... more |
Another Luxury Residential Project Underway In Palm JumeirahSunday, April 15, 2012 Nakheel announced a new luxury project in Palm Jumeirah, Dubai. It will be Nakheel’s first major development since completing a restructuring process.
As per news, the construction work on Palma Residences was expected to be completed within 18 months and 30 units had already been sold at a value of almost Dh 223 million.
Nakheel, which is also in planning phase to issue the second tranche ... more |
Sharjah Reports Little Fall In Rents In The First Quarter Of The YearSunday, April 15, 2012 According to a report of Asteco, despite the fact that the activity in Sharjah real estate has increased due to better supply entering to the market with improved utility connections, rents in Sharjah have fallen slighting in the first three months of the year.
If we consider the overall rents of the apartments in Sharjah, we will come to know that they have mostly remained stable. Only the is ... more |
Despite The Crash, Palm Springs Investors Received 100% RefundWednesday, April 11, 2012
Despite the property crash, almost all of the investors of incomplete property project, Dubai’s Palm Springs, have received a refund from the developer.
The project was halted during the economic crash but the investors reached an agreement with the Damac Properties. According to the agreement, the developer gave them a full refund on their lost investment. According to resource, 21 inve ... more |
Active Legislative Framework And Institutions Are Required To Oversee Mortgages In The UAEWednesday, April 11, 2012
The governor of the Central Bank of the UAE, Al Suwaidi, said that the current need of the UAE mortgage market is in the development of institutions to supervise mortgage lending in the UAE. He added that along with the development of the institutions, an active legal framework or definite set of rules is also required to control and oversee mortgage lending in Emirates.
Since the oversupp ... more |
Dubai Municipality Dept. Has Been Forced To Push Back Housing Fee Plan For Expats!Tuesday, April 10, 2012 Discussions are delayed between Dubai government and Emirate’s utilities provider, and amidst delays, Dubai government has forced Dubai Municipality to push back plans to charge expats housing fees.
Months ago, the authorities revealed that all expats will be charged with housing fee by June as they initiated a campaign to include those who were not being billed. However, due to delays, only 6 ... more |
The Developer Of ‘The World’ Project Is Unable To Complete The Project Due To InsolvencyTuesday, April 10, 2012
In the first hearing of the legal battle between the developer of ‘The World’ project and the Australian developer Kleindienst Group, it has been said that the developer of ‘The World’ is insolvent. One of the prominent owners of the development said that because the firm is insolvent, it could not get the approval of constructing manmade islands.
The subsidiary of Nakheel and the develope ... more |
The Impact Of Property Crises On Palm JumeirahFriday, April 06, 2012 According to the documents obtained by Arabian Business, after the global crises of 2008, the value of apartments in one of the renowned developments of Palm Jumeirah has been fallen by 75%. This is because the property crisis has severely affected properties in the Palm Jumeirah.
The Shoreline development was once advertised as the most prestigious and premium development of Palm Jumeirah in ... more |
This Year Dubai Land Department Will Auction Around 80 PropertiesFriday, April 06, 2012 The Auction Department of Dubai Land Department has revealed that up to 80 properties will be auctioned this year, as banks have forced to take strict action to recover losses from mortgage default. The property registration agency, which auctioned 35 properties last year, revealed that it could auction up to 35 homes in an auction sale this month.
The Department revealed that the number of pr ... more |
Property Prices Near Dubai Metro Have Risen 34%Thursday, April 05, 2012 Roads and Transportation Authority (RTA) has reported a sudden rise up to 34 percent in property prices near Dubai Metro stations since 2009. To cope up with the increasing living cost, people search for cost effective ways to minimize the expenditures. Therefore, real estate developments near metro station have seen a surge in demand in recent years, the RTA reported.
A joint study was carrie ... more |
Tecom Is Emerging As A Premium Residential Community In DubaiThursday, April 05, 2012 According to news, Tecom is emerging as a high rise locality which features a perfect blend of residential and commercial space. It has a huge number of residential units, serviced apartments, hotels, retail spaces and offices. To distinguish this area from Dubai Internet City, (Area B), Knowledge Village (Area D) and Dubai Media City (Area A), Tecom was formerly known as Tecom Area C.
Like o ... more |
Following The Traditions - Dubai Government Gifts Land To The Citizens!Wednesday, April 04, 2012 |
The Value Of Dubai Land Transactions Reached Dh 143 Billion In 2011Wednesday, April 04, 2012 According to Dubai Land Department, land transactions, during 2011 went up by 20%. The value of transactions reached Dh 143 billion and the expatriates that remained the largest investors responsible for the increase in value remained British and Indians. UAE nationals also invested heavily in Dubai real estate owing to the fact that property prices remained quite low during the year. UAE national ... more |
Ghost Projects – A Lurking Problem For Investors In Dubai!Tuesday, April 03, 2012 Developers can cancel any project any time and many of them do so. This practice however, makes things complicated for investors for whom recovering their money becomes a headache. Similar case was reported from Dubai where investors bought properties in Jumeirah Village community but can’t get their money back after the developer cancelled the project.
Spring Cluster, a cluster of apartment ... more |
Nakheel Has Completed And Delivered Three New Projects!Tuesday, April 03, 2012 The master developer of Dubai, Nakheel, has announced that it has completed three major projects comprising of the Emirati Buildings in the International City, the cluster area of Jumeirah Heights and the Jumeirah Islands Mansions development. A media tour is arranged to the properties and during the briefing it was told that Nakheel has started handing over property units to customers as per the ... more |
Jumeirah Islands’ Villa Owners Are Offered Additional Land Adjacent To Their PropertyMonday, April 02, 2012 According to a news report, the owners of villas in the Jumeirah Island can now purchase an additional land adjacent to their property at only Dh300 per square foot. Nakheel, the developer of the project, has also set certain guidelines according to which any permanent roofed structure can not be build on the land.
In order to facilitate the villa owners, Nakheel has set flexible payment optio ... more |
Dubai Developer Planned To Open A New Shopping Mall In Abu DhabiMonday, April 02, 2012 Majid Al Futtaim, the major developer in Dubai, is planning to open a new shopping mall in Abu Dhabi, which is expected to be as big as Mirdiff City Centre, Dubai.
According to sources, Majid Al Futtaim is in process of finding land for the shopping mall. The construction cost of this project is estimated to be around Dh3 billion.
The developer is also planning to construct another shopping ... more |
