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Mollak to record Dh4b in real estate service fees
Dubai developers are no longer allowed to collect service charges from property owners as a new law comes into effect removing developers from setting charges or collecting funds.
Dh41 million luxurious villa sold in Dubai
Real estate broker PH Real Estate on Tuesday announced that it has brokered the largest villa sale in Dubai's Emirates Hills in the past six months.
Realty a key component of Abu Dhabi economy
Real estate is one of the important sectors in Abu Dhabi's economy in terms of contribution to the GDP and FDI, top officials said in the capital.
No rent hike for three years in Dubai, draft law proposes
A new draft rental law has proposed that rents of apartments in Dubai should be fixed for the first three years of signing the contract.
Reportage to add 2,300 units in Abu Dhabi, Dubai over 3 years
Reportage Properties has said construction work on its six projects in Abu Dhabi and Dubai is on track and it will add more than 2,300 residential units by 2022.
Affordable units spur sales in Dubai property market
With affordable properties spurring transactions in a relatively soft Dubai property market, handovers in the fourth quarter are expected to average between 5,000 and 7,000 units, according to the latest market report by a leading property consultancy.
Al Ain Real Estate Exhibition concludes with overwhelming response
W Capital, a real estate brokerage companies in the UAE, has concluded its real estate exhibition in cooperation with Mag Development, which showcased units of Mag City's Project.
UAE property offers higher returns than Far East markets
Real estate in the UAE is not only affordable now but the rental returns are also double of what is offered by the Far Asian markets, industry executives said.
Residential rents in Dubai to stay lower in 2020
Residents in Dubai are expected to enjoy lower rents next year despite a pick-up in economic activity and preparation for Expo 2020 as more units will come online and increase competition in the market, experts say.
Up to 20% discount on rent in Dubai announced
Awqaf and Minors Affairs Foundation (AMAF) has launched a 'Ejar wa Ajr (Rent and Get Rewarded)' initiative to provide sustainable endowment residential options in its real estate portfolio with simplified conditions.
Mohammed bin Rashid issues law on joint ownership of real estate in Dubai
Dubai: The Real Estate Regulatory Agency (Rera) has been further empowered to oversee the upkeep of “jointly owned properties” in Dubai, including the way facilities management (FM) businesses bill clients.
One Za'abeel reaches key sliding phase of The Link
Ithra Dubai, a leading developer of community-oriented real estate projects fully-owned by the Investment Corporation of Dubai, has announced the start of the first sliding phase of the world's largest cantilever, or 'The Link', on its landmark One Za'abeel development.
Dubai house sales hit 4-year high
Dubai's real estate sector is coming out of the woods as residential sales transactions hit a 4-year high during the summer season this year, the latest data shows.
Holiday-home players in Dubai's Downtown relieved
Legal holiday home operators in Dubai's Downtown on Monday heaved a sigh of relief with Dubai Tourism, the relevant authority, clarifying the rules and regulations governing the activity.
Best rental yields found in Dubai's new communities
Dubai real estate has offered one of the best rental yields in the world, especially in new communities givING better returns than many major cities around the world.
Dubai residential property prices continue to dip
Residential property prices in Dubai continued to fall, extending the correction process that has been under way for quite some time.
Upcoming iconic skyscrapers to add more glamour to UAE skyline
The UAE, especially Dubai, is home to some of the world's most-visited landmarks, attracting millions of visitors from different corners of the world. Known for its skyscrapers, the UAE is working on a number of new landmarks and skyscrapers set to open in couple of years, which would improve the country's profile and also attract more visitors to the country.
Dubai rents continue slide
Residential rents in Dubai across categories continued to decline on the back of softer demand and pressure caused by upcoming supply, real estate surveys show.
Sharjah real estate transactions hit Dh14.7B in H1
Abdul Aziz Ahmed Al Shamsi, director-general of the SRERD, said that most of the real estate dealings recorded in Sharjah over the first six months of the year were in May with dealings worth over Dh6 billion.
Dubai mulls rent-to-own, multiple owners scheme in realty
Dubai is working on a host of new initiatives and regulations such as a rent-to-own system, partial title deeds that will allow multiple ownerships in a property
Sobha unveils luxury One Park Avenue residential project in Dubai
Developer Sobha Realty has announced the launch of One Park Avenue, its latest residential tower at the eight million square-foot Sobha Hartland development in Mohammed Bin Rashid Al Maktoum City in Dubai.
Dubai offers first lease-to-own industrial warehouses
Cost of operations will substantially go down with the introduction of lease-to-own warehouses for industrial projects in Dubai as it is first of its kind in the Gulf region.
13,230 families benefit from ‘Sakani’ program in Saudi Arabia
The Ministry of Housing’s “Sakani” program has helped 13,230 families registered on its Real Estate Development Fund list with housing options and finance solutions during May.
Luxury living has to hit home, especially in Dubai
Khaleej Times spoke to Colin Doyle, partner of LW Design Group, the architect behind Villa Aurum, which recently made waves in the property sector when it was listed for Dh130 million.
Dh5.6b property deals transacted in Dubai during Ramadan
Property deals cumulatively worth Dh5.6 billion were transacted in Dubai during Ramadan this year.
Value of Dubai real estate transactions up 33% in 2019
The value of real estate transactions in Dubai rose 33 percent to AED 34 billion ($9.26 billion) in the first five months of the year, according to statistics from the Dubai Land Department.
Luxury Dubai property prices fall 4.7% in past year
Luxury property prices in Dubai have fallen by 4.7 percent on average over the past year, according to new research by real estate consultancy Knight Frank.
Oman's Salalah Grand Mall set to open by end-2019
Salalah Grand Mall, a mixed-used project being developed by Salalah Commercial Centre in partnership with the Ministry of Defence Pension Fund and Al Madina Real Estate, is set to open by the end of this year.
Cash-based transactions continue to dominate Dubai realty
Cash is still the king and it continues to rule Dubai's property market despite a decline of over one-third in transactions due to a slowdown in the economy and property prices, according to official data.
New Downtown emerging in Dubai
As Dubai works on building different downtown neighborhoods as part of its urban planning, a new centre is emerging fast on the horizon of Dubai's property market
US to hold economic conference in Bahrain to encourage investment in Palestinian areas
The US is to hold an international economic workshop in Bahrain in late June to encourage investment in Palestinian areas as the first part of its Middle East peace plan, according to a White House statement.
Dubai Asset Management partners with HiGuests
Dubai Asset Management has announced its foray into the short-term rental market through its partnership with HiGuests, a Dubai-based startup which specialises in managing short-term property rentals with the aim of offering added convenience to guests and hosts alike.
Residences at Mandarin Oriental, Muscat unveiled
Eagle Hills Muscat, a partnership between Eagle Hills Abu Dhabi and Izz International, have unveiled The Residences at Mandarin Oriental, Muscat.
Here’s how expats can secure long-term visa in UAE
The UAE offers plenty of opportunities to foreigners who are willing to invest in real estate sector to secure a long-term visa following a reform process initiated by the government last year.
Property buyers are returning to Dubai as prices continue to drop
Real estate across Dubai is becoming more attractive for buyers, as sales volumes for both off-plan and ready-home properties picked up in the past six months, possibly due to downward price corrections in the market, a report has found.
9,000sqft Palm Jumeirah villa sold for Dh51M
A 9,000sqft villa in Palm Jumeirah was the most expensive unit sold in Dubai in the first-quarter of 2019, fetching Dh51 million.
UAE adds 10,300 new units in Q1; new launches increase
The UAE's real estate continued to witness strong supply of new residential units as 10,300 new villas and apartments were delivered in Dubai and Abu Dhabi in the first quarter of 2019, according to a report released by Asteco on Monday.
Deal signed to develop SMEs in Saudi Arabia’s Eastern Province
The Eastern Province Chamber of Commerce and Industry and the General Authority for Small and Medium Enterprises (Monsha’at) signed a cooperation agreement in Dammam.
Dubai rents drop again, 5 most affordable areas revealed
House prices in Dubai continue to be more affordable with the ongoing correction in the sector, leading to a more than 10 per cent annual decline across a broad spectrum of residential communities.
In commemoration of their national day, Pakistanis join with Saudis in reflecting on their historic relations
Thirty-five-year-old Mushtaq Ahmed prepares a sweet rice dish called kheer in his camp on March 23 every year.
Dubai housing to get supply boost
Residents will be able to buy or rent properties on more flexible terms and conditions as record 41,000 residential units are expected to come online this year due to higher materialisation rate of projects ahead of Expo 2020.
'Dubai must not position as a cheap destination'
The key for Dubai is that it is value-for-money destination. I don't think Dubai should try to position itself as a cheap place.
Saudi Arabia’s megaprojects in spotlight at Riyadh International Book Fair
Visitors arriving at the Riyadh International Book Fair 2019, one of the region’s largest cultural events
Motorbikes and boards kick Saudi Arabia's Sharqiah Season off with a vroom
The second day of Sharqiah Season got off with a vroom as hundreds of motorcyclists descended on a Saudi city for a major bike show.
Saudi Arabia affirms economic role for women
Saudi Arabia affirmed its belief that women are an important component of the power of society and are of paramount importance in the creation of a vibrant economy.
Riyadh ‘a beacon of Arab culture’: Kuwaiti envoy
Riyadh is a beacon of Arab culture, according to Sheikh Ali Khalid Al-Jaber Al-Sabah, Kuwaiti ambassador to the Kingdom.
Saudi Real Estate Refinance Co. issues $200m sukuk
Government-owned Saudi Real Estate Refinance Co. (SRC) said on Wednesday it had completed a 750-million-riyal ($200 million) sukuk issue with multiple tenors, the first transaction by a non-sovereign issuer in Saudi Arabia in 2019.
Saudi Real Estate Refinance plans $2.3bn in sukuk sales
Saudi Arabia’s first mortgage-refinancing firm is set to debut in the bond market with a plan to raise as much as 8.5 billion riyals ($2.3 billion) this year as the kingdom seeks to expand home ownership.
Council of Saudi Chambers’ women’s council elects new leaders
The Council of Saudi Chambers’ (CSC) Coordination Council for Women’s Affairs (CWA) held its first meeting on Thursday.
Alaskan Quant fund sees profit in frontier markets near upgrades
It’s time to pay attention to Kuwait’s stock market, according to Alaska-based quantitative fund McKinley Capital Management.
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