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Real Estate On Track For Recovery In 2011Wednesday, December 29, 2010 Property sector in Dubai is expected to be one of the best performers next year as real estate market is on track for recovery in 2011 in the emirate, DAMAC Properties Managing Director Ziad El Chaar said. There is still a lot of cash on the sidelines, but there are opportunity costs to keeping liquid cash, El Chaar said, adding: “Investors will now be weighing up their options about where to inve ... more |
Dubai World Tribunal Issues Ruling Against NakheelThursday, December 23, 2010 The Dubai World Tribunal, part of the Dubai International Financial Centre Courts, on Tuesday issued a ruling against Dubai World real estate arm Nakheel's attempt to seek Dh41 million ($11.14 million) in delay fees from developers. Nakheel and its Jumeirah Village LLC unit had contested that no consolidation agreement had been concluded with claimants Paramount International Trading Ltd., Diamond ... more |
Tiger Ready To Hand Over New Marina Pinnacle Tower To OwnersSunday, December 19, 2010 The last chapter in another successful story in Dubai was being written at the Marina Pinnacle Tower last week. The 77-storey tower (280 metres high) is completed now and ready to be handed over to the owners of its 764 residential and commercial units. Work on the tower was completed months ahead of the original schedule set by the developers, according to Taha Mohammad, CEO of Tiger Properties, ... more |
RERA Bridles Developers To Curb SupplyWednesday, December 15, 2010 Dubai has cancelled 202 property projects and won’t allow developers to start new ones without funding them in advance as it works to control supply, the head of the Emirate’s real estate regulator said. “We are putting in a proper plan to watch over supply,” Marwan bin Ghalita, chief executive officer the Real Estate Regulatory Agency, said in an interview on Tuesday. Developers requested 115 of ... more |
Fujairah Allocated $1Bn For Development ProjectsWednesday, December 15, 2010 The government of the UAE is set to allocate Dhs4bn ($1.09bn) from the federal budget to implement 35 development projects in the northern emirate of Fujairah, Wam has reported. The projects will be carried out in the emirate between 2011 and 2013, the state news agency said without providing details about the projects. ... more |
Tala Tower To Be Completed In Jan 2011Monday, December 13, 2010 Samia Bouazza, marketing director of Abu Dhabi-based Tamouh Investments has said the developer expects to complete Tala Tower in Marina Square on Reem Island by January-end 2011, Emirates 24-7 has reported. The project was launched in November 2006 with December 2009 set as the completion date, but that has been changed periodically after a fire erupted in the 45-storey tower in October 2009. The ... more |
ADF To Fund Villa ConstructionMonday, December 13, 2010 Abu Dhabi Finance (ADF) yesterday announced its Mamlakaty mortgage has been extended to offer financing for the construction of new private villas in Abu Dhabi. Mamlakaty has all the trademark benefits of an ADF mortgage, and offers up to 80 per cent of build costs for villas under construction and mortgages for up to 80 per cent of the value of completed villas. First launched in May offering equ ... more |
Marina 101 Tower Set To Be Completed By End Of 2011Wednesday, December 08, 2010 Abu Ali Malik Shroff, chairman of Dubai-based developer, Sheffield Real Estate has said the firm is set to complete Marina 101 by the end of next year, despite a 60% default rate, Emirates 24-7 has reported. "We are trying to discuss with the buyers ways and means to come to a mutual understanding but we at the present time are not looking at terminating their contracts," he told the daily. The pr ... more |
Abu Dhabi Realty Gets Regulatory BoostWednesday, December 08, 2010 General Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, on Wednesday issued Resolution No. 64 of 2010 which aims to encourage real estate developers and investors in the emirate to register their real estate ownership and makes the process of transferring property ownership easier and faster, the official news agency WAM reported. T ... more |
Things To Know Before Buying And Selling PropertyFriday, December 03, 2010 In Dubai, the business of buying and selling property is strictly regulated. As per clause 2 of by-law No. 85 of 2006, only those who are licensed by competent authorities and registered with the Real Estate Regulatory Agency (Rera) are permitted to carry on with brokerage activities. Licensing requirements, To begin the process, brokers must submit an application to Rera along with the following ... more |
Resilient Ajman Forges Ahead With ProjectsWednesday, December 01, 2010 While all eyes are on Dubai and Abu Dhabi as the two try to reconfigure their respective real estate space, there is considerable action taking place in Ajman where the authorities are going all out to turn things around in the prevailing adverse conditions. Much of the effort is to instill confidence in the market. "Dubai introduced escrow accounts and Ajman followed suit. This helped a lot in te ... more |
