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Defaulters Have No Place To HideFriday, February 25, 2011 If you own property in Dubai and have repeatedly failed to meet your obligations by way of service charges, it's time to mend your ways. Those who continue to test the limits may soon have owners associations that have assumed responsibility for properties coming after them for overdue payments. With that, the neighbourly atmosphere that exists in Dubai's freehold clusters would come under severe ... more |
Rent Index To Be Updated RegularlyTuesday, February 22, 2011 The Real Estate Regulator Authority (RERA) announced on Monday that the rent index tables set by the Dubai Land Department before two years are subject to updating every four months to enable proper implementation of the Ruler’s decree capping the rent rate in the emirate. The decree passed in January had set the rates of maximum rent increases on properties leased out before its enforcement, whic ... more |
Bando Begins Last Push For Business Bay SalesFriday, February 18, 2011 Having completed a massive mixed-use development and just got the utility connections in place for it, a local developer is gearing up for one final bout of activity. And that could well be the hardest part. The South Korean company Bando Housing Corp, the developer of the U-Bora Towers in Business Bay, will shortly start marketing about 100 residential units that were left unsold when the local p ... more |
Office Rents in Abu Dhabi To Rise 25%Tuesday, February 15, 2011 Property consultancy Jones Lang LaSalle has said that office supply in Abu Dhabi is expected to jump by more than 25% this year, putting further pressure on rents, while oversupply will also push residential and retail rents down, Reuters has reported. "Around 1.4 million sq m of office supply is expected to enter the market by 2013," JLL said in a report. Total office space across the Abu Dhabi M ... more |
Sorouh Reports Dh16.2 Million Net Profit In 2010Monday, February 14, 2011 Sorouh Real Estate Company PJSC, the Abu Dhabi based real estate developer, reported Dh16.2 million net profits in 2010, compared to Dh495 million in 2009, after provisions and impairments. Revenues of Dh1.2 billion in 2010, down from Dh3.1 billion in 2009, driven by land sales on Shams Abu Dhabi, delivery of units in Golf Gardens, construction income from national housing projects, revenue from s ... more |
Abu Dhabi Expects Demand For Completed Property ProjectsMonday, February 14, 2011 Abu Dhabi is showing signs of increased purchaser demand for completed projects in a property market that saw a limited number of transactions in the fourth quarter of the last year, a report said. In its latest Abu Dhabi Real Estate Market Overview, property research firm Jones Lang LaSalle linked the trend to “more flexible payment plans introduced recently by a number of major mortgage provider ... more |
Retail Boosts Emaar Revenues 44% HigherFriday, February 11, 2011 The retail and hospitality divisions pulled their weight last year as Emaar Properties posted a 44 per cent gain in revenues to Dh12.15 billion against Dh8.41 billion in 2009. The gains were also felt on income, with net operating profit for the year up 31 per cent to Dh3.03 billion compared to Dh2.32 billion in 2009. A massive drop in impairment provisions from Dh2 billion in 2009 to Dh533 millio ... more |
Aldar Properties To Deliver Developments This YearMonday, February 07, 2011 Abu Dhabi's major real estate developer Aldar Properties is set to deliver a number of property developments this year in the emirate, a top-ranking company executive, familiar with the developments, told Gulf News on Sunday."Mix-use developments Al Muneera and Al Zeina on the Al Raha Beach are set to be delivered later this year. Al Muneera is scheduled for delivery in the second half of 2011, wh ... more |
Trump Project Cancelled In DubaiThursday, February 03, 2011 Nakheel has cancelled plans to build the Trump International Hotel & Tower on the Palm Jumeirah in Dubai. It is now planning to build a shopping mall at the site instead. Ali Rashid Lootah, who became the chairman of Nakheel last March as part of its restructuring, said the developer had put on hold its most ambitious projects as the company completed its restructuring and focused on the "details" ... more |
