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Abu Dhabi rents cool on supplyFriday, July 29, 2011 News of falling rents in Abu Dhabi does not sound implausible any more with a number of developments across the capital steadily coming online. Most recently, real estate consultancies revealed that rents in Abu Dhabi fell by 10 per cent in the second quarter, with Jones Lang LaSalle warning the trend will prevail for the rest of 2011. Indeed, an expected 14,000 residential units will be handed ov ... more |
Sorouh Real Estate reports Q2 net profit of Dh125.3 millionThursday, July 28, 2011 Sorouh Real Estate, Abu Dhabi's second biggest developer, reported on Thursday that its second quarter net profit more than tripled year-on-year to Dh125.3 million from the handover of units on Reem Island. Sorouh's ongoing handover of properties, primarily at the Sun and Sky Towers development, along with a sharp drop in bad debt provisions saw the company make a half year net profit of Dh201.6 ... more |
Emaar Properties records 2011 H1 net operating profit of Dh843mTuesday, July 26, 2011 Emaar Properties PJSC, developer of the world's tallest tower Burj Khalifa, Tuesday reported net operating profit of Dh843 million ($230 million) in the first six months of 2011. The net operating profit for the second quarter (April to June) 2011 was Dh422 million ($115 million), similar to the net operating profit for first quarter (January to March) 2011 of Dh421 million ($115 million). Revenue ... more |
Rental prices in Abu Dhabi fell by 10 per centTuesday, July 26, 2011 Rents in Abu Dhabi fell by 10 per cent in the second quarter as supply continued to outweigh demand amidst expectations that this phenomenon will prevail for the rest of the year whereby up to 14, 000 residential units, primarily high end, will be handed over in Abu Dhabi by the end of 2011. With regard to office supply, there is an oversupply. The total oversupply of office space in Abu Dhabi is ... more |
Abu Dhabi's UPC reveals Baniyas-South Wathba plansMonday, July 25, 2011![Abu Dhabi\](http://www.bayut.com/property/common/resize.php?img=100/938.jpg&d=45 "Abu Dhabi\") Abu Dhabi Urban Planning Council (UPC) has announced the Baniyas-South Wathba Revitalization Master Plan, Wam has reported. According to the plan, a hierarchy of district, neighborhood and local centres is to be developed to provide services for existing and future residents. Moreover, new plots for Emirati housing will be allocated and existing homes will be revitalized to improve the quality of ... more |
Handover Of Al Zeina Homes BeginsTuesday, July 19, 2011
Aldar Properties said on Monday that hand over to homeowners has commenced at the beachfront Al Zeina residential development in its Al Raha Beach project. "Delivery of the first phase of the development which consists of three precincts. began last week, with the remaining homes scheduled for delivery this September," Aldar said in a statement. Al Zeina is the first beachfront residential devel ... more |
Gulf Pours Money Into UAE RealtyMonday, July 18, 2011 The UAE remains an attractive destination for GCC nationals to invest in real estate because of its developed regulatory systems and value for money properties, industry analysts said yesterday. New figures released by the UAE Ministry of Finance show an increase in the number of registered real estate contracts held by Gulf nationals in the UAE. The statistical report on the Gulf Common Market, w ... more |
Dubai Economy Back On Growth TrackFriday, July 15, 2011
There is a buzz in the air: Dubai's economy has come out of recession and growth is picking up. Interesting times are ahead. However, the big question is, is the real estate sector picking up? "The economy is back on a growth track and we see the market picking up. We have witnessed steady growth and we look forward to a better growth track going forward," Hesham Abdullah Al Qasim, Vice-Presiden ... more |
Rufi Hands Over Projects At International CityFriday, July 15, 2011 International City has not had a good run lately. Its mention in the media inevitably highlights the steady decline in property values and rentals and recurring issues that many of the residents have with the quality of infrastructure and maintenance. But Rameez Rufi, vice-president of Rufi Real Estate, can still see a gilt-edged lining to the master-development. "In terms of rental yields, Intern ... more |
Tamweel launches two new productsThursday, July 14, 2011 Tamweel, the UAE Islamic home finance provider, expands its portfolio to capitalize on the recent announcement of the UAE Federal Cabinet regarding extension of property visa from six months to tree years. The company announced on Wednesday the expansion of its home finance product suite with the launch of two new products. The Non-residents Program will make home finance available to select over ... more |
Stability Returns To Upscale PropertiesMonday, July 11, 2011
Even as new stock looms on the horizon elsewhere in the city, Dubai's upscale and established communities are achieving a degree of stability. But there is no such stability at the lower end of the freehold scale. Consequently, there is no immediate threat to properties in Discovery Gardens and International City losing their affordability status. Or for that matter, at any time in the near fu ... more |
Dubai To Take Ownership Of Nakheel, LimitlessThursday, July 07, 2011 Dubai World has signed agreements to transfer the ownership of two of the emirate's biggest property developers to the government, as it completes a debt restructuring in the wake of the financial crisis, The National has reported. Nakheel and Limitless will separate "operationally and financially" from Dubai World, the company said. ... more |
Major Aldar Project Comes OnlineWednesday, July 06, 2011 One of the UAE’s’ tallest office building, the 59-storey, Trust Tower being developed by property developer Aldar in the capital, has been offered to tenants at a time when real estate market is impacted by a glut-like situation. “The tower would be handed over to tenants for their fit out in phased manner from November,” said Rami Nasser, Director of Sales and Commercial Leasing, at Aldar Propert ... more |
Rents Continue To Fall In Abu DhabiWednesday, July 06, 2011 Apartment rents and sale prices in Abu Dhabi continued to decline in the second quarter of this year as new stock entered the market, outpacing demand, property consultancy firm Asteco said on Tuesday. While rents for quality villas, which are still in short supply remained relatively stable, additional supply will put some downward pressure on prices as the year progresses, Asteco said in its sec ... more |
Dubai Real Estate Market To See 18,000 New Homes By End Of YearWednesday, July 06, 2011 Property consultancy Jones Lang LaSalle has said Dubai's real estate market will see another 18,000 homes by the end of the year, adding to the emirate's oversupply woes and pushing prices further down, Reuters has reported. Some 2,000 homes were completed in the emirate in the second quarter, and another 18,000 will be ready for occupancy by the fourth quarter, JLL said in a report, adding that t ... more |
