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Tenants Avoiding Palm Property Due To Ongoing Battle Over Service ChargesThursday, June 28, 2012 According to sources, tenants are losing interest in Palm Jumeirah apartments due to the ongoing battle between landlords and Nakheel over the outstanding service charges. This battle started in December when Nakheel restricted access of 1300 residents from gyms and the beaches at Shoreline Apartments Residences. At that time, Nakheel said that the landlords owed it US$ 20 m in service charges.
... more |
How Transparent Dubai Realty Market Is – An OverviewThursday, June 28, 2012 The Dubai real estate market is considered the most transparent real estate market in the Middle East and North Africa but it still lags behind as compared to other global realty markets.
Transparency levels have been increasing in the region and has reached 80 percent during the last two years. The Lebanese real estate market is showing the greatest jump, according to a consultancy report. An a ... more |
RERA Imposed Fines On 22 Dubai Real Estate CompaniesWednesday, June 27, 2012 According to sources, RERA declared on Tuesday that it has imposed fines on many real estate and brokerage firms in Dubai during first six months of the year. RERA (Real Estate Regulatory Authority) is a regulatory arm of DLD (Dubai Land Department) which has imposed fines on 22 brokerage and real estate firms in Dubai. The total value of fines is around AED 900,000.
Director of Real Estate Lic ... more |
Dubai Offers New Lands For Foreign OwnershipMonday, June 25, 2012 According to news, Sheikh Mohammed Bin Rashid Al Maktoum, has expanded the areas where foreigners can get property ownership. A decree posted on his official website reveals the two new plots of land are available for the foreigners for leasing.
The two plots of land are in Dubai Investment Park and can be leased for up to 85 years. According to the website, the ruler of Dubai has issued new Re ... more |
Bloom Properties Announces The Completion Of Phase 1 Of Its Flagship ProjectThursday, June 21, 2012 Bloom Properties, the master developer of Abu Dhabi, has announced the completion of construction work of phase 1 of its flagship project, Bloom Gardens.
The project comprises of more than 300 villas whereas, phase 1 includes 123 villas that will be handed over within this month. Bloom Gardens is a residential project that will set new benchmarks in community living. Seeing the demand one can s ... more |
Nakheel Drains Six Swimming Pools At Marina Residences In Palm JumeirahThursday, June 21, 2012 According to the latest news, Nakheel has drained out Palm pools over its service fees rows with the owners of property in Palm Jumeirah. It has drained out six swimming pools at Marina Residences Towers during last week. Nakheel claims property owners owe it AED 15 m service charges which led it to take this action. Tenants, who are not the property owners and are thus not liable to pay service c ... more |
Oxford Business Group Claims That Property Crisis No Longer Exists In DubaiWednesday, June 20, 2012 According to news, Oxford Business Group has claimed that Dubai real estate crash no longer exists in Dubai. It says, since residential sector have been reporting solid recovery for the past few months, the worst seems to be over now. Regional editor at OBG, Oliver Cornock highlights in an article published in a magazine that decline in Dubai property prices and rents has started to reverse.
A ... more |
Progress Is Assured On The Delayed Ajman Project By The DeveloperMonday, June 18, 2012 According to developer Sweet Homes Holdings, the first 200 units of its much delayed Ajman property project will be completed in September. The developer further added that the infrastructure like electricity and water will also be completed by this time.
In the given project, the developer will also make sure to hand over one residential building and the opening of commercial outlets to attract ... more |
Nakheel’s Legal Battles Are Depriving Investors Of Property OwnershipWednesday, June 13, 2012 According to sources, investors in the two projects of Nakheel have not been getting ownership of their completed property for nearly two years. The reason behind the investor’s inability to gain ownership is the ongoing legal battles between the third party contractors and Nakheel.
The owner of one of the islands on ‘The World’, Sao Paula Development, claims that Nakheel has backed out on an ag ... more |
Etihad Rail Acquires 60% Of Abu Dhabi's Leaning Glass Tower On LeaseWednesday, June 13, 2012![Etihad Rail Acquires 60% Of Abu Dhabi\](http://www.bayut.com/property/common/resize.php?img=100/1203.jpg&d=45 "Etihad Rail Acquires 60% Of Abu Dhabi\") Capital Gate, Abu Dhabi’s leaning glass tower has become successful in attracting people as more than 60 percent development has been leased. Etihad Rail will be the anchor tenant in this development.
The tower is located next to Abu Dhabi National Exhibition Centre (ADNEC) and leans four times more than the Italy’s famous Pisa Tower. The transportation company, Etihad Rail, is working on transfo ... more |
Australia’s Sunland Group To Appeal Fraud Ruling In DubaiMonday, June 11, 2012 Sources say, Sunland Group in Australia has disclosed its intention of appealing a civil case against a businessman who deceived it in a land transaction in Dubai. It declared that the land transaction cost US$ 14 m and the company has been allegedly deceived by a Melbourne based businessman.
The firm has also declared that Angus Reed and Matthew Joyce fooled it and confiscated its multi-millio ... more |
Aldar-Sorouh Tie-Up Enters Due Diligence PhaseMonday, June 11, 2012 According to sources, the two largest developers of Abu Dhabi (Aldar Properties and Sorouh Real Estate) said in a bourse filing on Sunday that the merger between them is now in due diligence phase. Both the companies have disclosed in a statement to the Abu Dhabi Securities Exchange that Morgan Stanley was advising Sorouh while Credit Suisse was advising Aldar on the merger.
The filing added th ... more |
Palm Villa Owners Can Buy Land From Nakheel To Extend Their GardensFriday, June 08, 2012 According to sources, Nakheel is looking forward to boost its revenue. For this very purpose, it is providing an option to the villa owners on Palm Jumeirah to buy additional land outside their villas. The land which Nakheel is offering makes a strip that is adjacent to the steps leading down to the beach. For this land, Nakheel is charging AED 600 per sq ft.
The residents of Palm Jumeirah h ... more |
Survey Reveals The Demise Of One Cheque Rent Payments In DubaiWednesday, June 06, 2012 According to the results of a recent survey of brokers operating in Dubai real estate, one cheque rent payments in Dubai have become rare. The survey was conducted on a sample of 3000 brokers and the analysis of their responses has revealed the demise of one cheque payment system.
Since the Dubai real estate market is under oversupply pressure, landlords are allowing flexible rents payments as a ... more |
Knight Frank Reported No Change In Dubai House Prices During Q1Monday, June 04, 2012 According to Knight Frank Global House Price Index, prices of houses in Dubai maintained their status quo during Q1. The prices were down by 0.3 percent in comparison to the last six months of 2011 but they have remained flat ever since. As per the index, prices in Dubai have fallen 1.1% on the year-earlier period.
This ranks Dubai on 29th position in the list of 53 places having renowned real ... more |
