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DLD fines 10 realty companies, warns another 30 for not adhering to advertising requirements
The Real Estate Regulatory Agency (Rera), at Dubai Land Department (DLD), has implemented inspection campaigns aimed at auditing advertising permits and ensuring that various parties adhere to the circulars and laws enforced in the emirate.
Dubai rents are falling, time to relocate
Residential, office and retail sectors across the UAE's property market will continue to be tenant-friendly on the back of a wider range of incentives being offered by landlords as the addition of new units is expected to further depress prices and rental rates in the short-term, various market reports suggest.
Dubai prime residential secondary market sales volume doubles
Dubai's prime residential property market is witnessing strong transaction volumes, especially the secondary market which doubled quarter-on-quarter.
Expat exodus forces drop in rents around Kuwait
Nearly a quarter of a million expatriates have left the country for good after losing their jobs due to the coronavirus pandemic.
Where rents are falling in Dubai
Rents in Dubai have fallen as low as 21 per cent in the third quarter 2020 as contraction in income forces considerable movement in the rental market.
Dubai to see considerably slower supply over the next 5 years
New residential property supply in Dubai continues to decline, and the pipeline for the next five years also shows the number will drop considerably, especially in the villas and townhouses segment, say real estate consultants.
Dubai property supply-demand seen levelling off in 2022 onwards
Residential property supply in Dubai will remain strong this year and the next, but handovers will slow down from 2022 onwards as new project launches have dropped significantly in the last couple of years, say property developers.
Saudi Arabia waives 25% of municipal property rents
Investors in Saudi Arabia have been exempted from paying 25 per cent of the municipal property rents for a period of three months, Okaz Newspaper reported.
Abu Dhabi, Dubai rents are falling in these areas
In the face of challenges the pandemic has brought, a certain market trend has emerged as a silver lining: Housing rents are falling in the UAE.
Space Race: Dubai residents opting for bigger homes post-Covid
Dubai residents are increasingly moving towards affordable community houses in the wake of the coronavirus outbreak as they now prefer bigger and more open spaces, property developers say.
‘Tamkeen’ is one of steps to alter country’s demographics: Aqeel
Minister of Social Affairs and the Minister of State for Economic Affairs of Kuwait Mariam Al-Aqeel confirmed the ‘Tamkeen’ initiative is among steps the government is taking in its efforts to address the demographic imbalance in Kuwait, especially amid the challenges created due to effects of the COVID-19 pandemic.
Attractive Dubai prices spur virtual property transactions
Attractive property prices in Dubai are increasingly drawing overseas investors in droves, who are willing to snap up a well-priced property quickly even without viewing the property physically and proceeding with the sale from overseas via a remote transfer, market analysts said.
Pandemic spurs demand for spacious dwelling units
The pandemic outbreak and the ensuing lockdown have started to influence lifestyle changes and real estate preferences, with buyers increasingly looking for spacious apartments or detached houses with gardens.
Dubai retains allure as city of choice for home buyers
Dubai retains its allure as one of the world's most preferred prime residential destinations for investors due to its affordability and relatively high yields compared to its global peers, according to a research released on Monday.
Union Properties prepares to launch Motor City Hills
Union Properties, the main developer of Dubai Motor City, has announced the completion of its three-year 'Strategic Blue-Print Plan' which includes the initial plans to launch its new project Motor City Hills.
DLD to build transparency with new service
The Dubai Land Department (DLD) has launched a 'Green List' on its Dubai Rest digital platform that will allow only registered brokers to communicate with property owners when they enroll in the list.
Dubai developers keen to deliver projects ahead of Expo
Dubai's real estate is expected to gain momentum in coming months, with economic activities having resumed and developers racing against time to complete their announced projects ahead of Expo 2020, experts said.
How Dubai Metro's Route 2020 will impact property prices, rents
Property prices and rentals around areas connected to Dubai Metro's Route 2020 will be more resilient compared to the wider market, according to property analysts and industry executives.
Appeal for villas surges in Dubai as prices, rents soften in first half of 2020
Appeal for villas witnessed a remarkable upswing as property prices and rents in Dubai's popular neighbourhoods remained fairly stable in the first-half of 2020 despite the severe fallout of the pandemic lockdown, according to data released on Wednesday.
Maple Invest mulls buying Damac Properties; shares jump over 14%
Damac Properties' shares jumped more than 14 per cent on Sunday morning after its chairman Hussain Sajwani's Maple Invest Co said that it was exploring a potential acquisition of the developer.
Dubai property sales total AED 2.74bn in May
The Dubai Land Department (DLD) recorded a total of 1,440 sales transactions worth AED 2.74 billion in May 2020, according to new research from Property Finder.
Residential rents in Dubai see a sharp drop, especially in these areas
Residential rents have fallen across the board in 2020 with the sharpest drops witnessed in Dubai Land and Dubai Sports City.
Saudi real estate fund performs more than 873,000 e-services
The Saudi Real Estate Development Fund (REDF) has performed more than 873,000 e-services since the start of remote work on March 15 in the period up to May 21.
Nakheel cuts salaries as pandemic hits Dubai retail and real estate
Dubai property developer Nakheel has cut salaries by as much as half as the pandemic hits Dubai property developers and mall owners.
Dubai's real estate market defies Covid-19 odds
The spillover effect from 2019 has resulted in a higher completion rate of property projects in Dubai this year, with over 20,000 units having been completed in the first four months of 2020 despite a slowdown in new project launches.
Housing in lockdown: Buying and selling property during Covid-19
Even during the best of times, the property market can be a stressful experience. Seasoned investors, first-time buyers, those looking to lease their property, and for many in Dubai, those looking to rent a new apartment, are often put off by the fear of the unknown.
Developers go slow with new launches, private sector leads
Private sector developers lead while government-backed firms are going slow in terms of new project launches in Dubai, with increased focus on ongoing projects and delivering them on time.
Dubai's International City offers best yields in UAE
Apartments in Dubai’s International City offer the best yields in the United Arab Emirates, according to the latest Property Finder Trends report.
Dubai likely to focus new developments in key pockets
There are still pockets in Dubai which can be developed under better urbanisation plan rather than pushing the boundaries of the city to bring balance between demand and supply.
First homes to be handed over in Bahrain's Villamar project
GFH Properties, the real estate arm of Bahrain-based GFH Financial Group, has announced the completion and opening of the residential tower at its Villamar project primely located on the Manama waterfront.
Mohammed bin Rashid launches Dubai Future District
Vice President, Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum today announced during the second Dubai Council’s meeting, that a new district under the name of 'Dubai Future District' dedicated to the new economy will take shape in Dubai.
Investors return strongly as Dubai property transactions hit 11-year high
Investors and buyers cashed in on lower property prices in Dubai as the number of transactions jumped 20 per cent to hit 11-year high of 41,988 in 2019 as compared to 34,961 transactions in the previous year.
MAG mulls IPO, invests Dh2B in new project
MAG Development, a subsidiary of MAG Group Holding, plans to go public and list on the Dubai bourse as it invests Dh2 billion in the upcoming MAG City project, its chief executive said.
Dubai property prices fall to seven-year low as deal volumes rocket
Property prices in Dubai fell to AED895 per sq ft on average in November, representing their lowest level for seven years, according to new research.
Developer Bloom says key Dubai projects on track for 2020 handover
Real estate developer, Bloom Properties, has announced that two major projects in Dubai - Bloom Towers and Bloom Heights - are both on track for handover next year.
Abu Dhabi, Dubai property prices have bottomed out
Property prices in Dubai and Abu Dhabi are bottoming out and there is no room to drop prices any further by developers and landlords, say analysts and industry executives.
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.
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