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Latest Real Estate News

Dh194.5m residential complex underway in Dubai

May 31 ,2016, city : Dubai

Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development, and Chairman of Sheikh Zayed Housing Programme, and Ahmed Moussa, General Manager of Dubco Construction, have signed a Dh194.5 million contract for construction and maintenance of the 900,600-square metre Al Quoz Residential Complex in Dubai.
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Dubai firms award Dh30bn plus contracts: Mega projects revealed

May 31 ,2016, city : Dubai

Dubai companies have awarded projects worth Dh30.46 billion in the first months of 2016, according to a report by consultancy firm, Deloitte.

In its annual publication: “GCC Powers of Construction 2016: The funding equation”, the consultancy said that ... More..

Dubai property investors urged to jump aboard, Abu Dhabi market sees reshuffle

May 31 ,2016, city : Abu Dhabi

The Dubai property market has experienced an “encouraging change" during the current quarter after the market had stabilised earlier in the year, according to brokers Chesterton’s.

“Price dropping is slowing down and the appetite of investors and owner-occupiers alike is sh... More..

Aldar develops the heart of Abu Dhabi’s vision

May 30 ,2016, city : Abu Dhabi

The sleek, modern luxury of the Yas Acres’ sales centre on Yas Island is a throwback to the glory days of real estate eight or nine years ago. Except there is a very 2016 feel to it all.

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Abu Dhabi may act to address property supply glut, official says

May 30 ,2016, city : Abu Dhabi

Abu Dhabi’s property market is over-supplied and the government may take steps to address the imbalance, a senior official said on Sunday.

Prices in the UAE capital’s residential sector were flat last year, after rising about 25 per cent a year in 2013 and 2014, as affordability level... More..

Average Oman rents slump nearly 6% in Q1

May 28 ,2016, city : Dubai

Average residential rents in Oman dipped by 5.9 percent during the first quarter, leaving them 12.7 percent below the year-earlier period, according to real estate consultancy Cluttons.

Cluttons' Muscat Spring 2016 Property Market Outlook report forecast a further 5-10 percent decline in rents during the remainder of th... More..

Buy a Dubai, Abu Dhabi apartment now or wait a while to make more money?

May 25 ,2016, city : Dubai

I moved to Bahrain six months ago and am thinking of buying a property in the UAE for investment purposes that generates a decent yield with good capital appreciation. I was reading about Abu Dhabi, especially when it comes to rents which, I believe, are higher than Dubai. What are th... More..

Dubai landlords fight to keep hold of tenants but savvy buyers snap up bargains

May 24 ,2016, city : Dubai

Leasing activity in Dubai’s residential market tailed off towards the end of the first quarter as landlords proved more willing to negotiate on rents to keep existing tenants in place, according to a report from Asteco Property Consultants.

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GCC construction sector expected to recover by 2018, Meed says

May 21 ,2016, city : Dubai

The GCC construction market is facing pressure from cuts in government spending, late payments, increased overseas competition, bureaucracy and staffing challenges, according to a report from Meed.

Yet despite all that, the Dubai-based research house expects the sector to recover across the GCC by 2018.

The r... More..

New rules allow Dubai tenants to sublet their homes: 10 steps to follow

May 19 ,2016, city : Dubai

Homeowners and tenants can apply for a holiday home license without the need to go through approved Dubai Tourism operator


Starting May 2016, Dubai tenants renting a property in the emirate are able to sub-lease ... More..

Dubai's Limitless to make early loan payment of Dh2bn to creditors

May 19 ,2016, city : Dubai

Dubai-based real estate developer Limitless announced today that it will make an early payment of Dh2.07 billion to banks and trade creditors this month, following the successful conclusion of its restructuring agreement with lenders.

Under the agreement, Limitles... More..

Dubai-based Taka makes energy efficiency its task

May 16 ,2016, city : Dubai

Dubai’s Supreme Council of Energy has completed a pilot project that will eventually map the energy use of buildings in the city.

The pilot project has taken in 110 buildings of different types – from residential blocks to hotels, and factories to worker camps – in communities a... More..

Jeddah Tower: Future world’s tallest building delayed after contractor problems

May 9 ,2016, city : Dubai

The developer behind the 1km-high Jeddah Tower, set to be the world’s tallest building, has said that it is looking to get back up to speed after funding issues with contractor Saudi Binladin Group caused delays.

Hisham Jomah, the chief development officer of Jeddah Economic Company, confir... More..

Arabtec looks to shore up balance sheet as Dubai contractor’s losses narrow

May 15 ,2016, city : Dubai

The contractor Arabtec has said that it is “looking at ways to enhance its capital structure" after posting its sixth successive quarterly loss yesterday.

The company said it “is currently engaged in discussions with Aabar, its largest shareholder, in respect of potential options... More..

Dubai buildings to be given star ratings

May 12 ,2016, city : Dubai

DUBAI // A five-star rating system for buildings will improve maintenance and safety but it must be objective, in-depth and meet international standards to be effective, owners and experts said.

The Dubai Land Department announced this week that every building in the emirate would receive a ratin... More..

Dubai prime office rents soar by 20% as vacancies fall

May 11 ,2016, city : Dubai

Rental values for prime office space in Dubai soared by 20 percent in the first quarter of 2016 compared to the year-earlier period, according to a new report by real estate firm JLL.

The JLL Global Office Index showed that Dubai was the top performer in the Middle East and North Africa region, with falling vacancies in Dub... More..

Arctic air con and slow lifts top office workers’ biggest complaints

May 11 ,2016, city : Dubai

Slow elevator speeds and freezing conditions are among the major complaints of office workers in the region.

A joint study commissioned by the Middle East Council for Offices and the Royal Institution of Chartered Surveyors on office environments and produc­tivity, found that 67 per cent of r... More..

Dubai developer chases global investors for luxury Palm projects

May 10 ,2016, city : Dubai

Dubai-based luxury property developer Seven Tides is heading to the UK capital later this month to showcase its luxury projects on Palm Jumeirah to London’s investment community.

The company said it will chase international investors at the Dubai Property Show, which will be held at the Olympia exhibition centre from ... More..

Abu Dhabi's Aldar Properties Q1 net profit gains 14%

May 10 ,2016, city : Dubai

Abu Dhabi's Aldar Properties reported a 14.1 percent rise in first-quarter net profit on Tuesday, maintaining its run of improving earnings.

The state-linked builder of Abu Dhabi's Formula One circuit, which reported higher profits in nine of the preceding 10 quarters, made a profit attributable to equity holders of... More..

Abu Dhabi is our future, says Aabar CEO

May 8 ,2016, city : Abu Dhabi

The CEO of the UAE’s Aabar Properties has reportedly insisted that the company is committed to Abu Dhabi despite plans to expand internationally.

The real estate developer, part of Aabar Investments, which is owned by the Abu Dhabi’s International Petroleum Investment Company (IPIC), plans to build 1,000 units i... More..

Dubai Tourism warns on holiday home regulations

May 8 ,2016, city : Dubai

Real estate developers in Dubai have reportedly been asked to warn landlords against short-term lets or they would face fines of up to AED100,000 ($27,000).

Dubai’s Department of Tourism & Commerce Marketing (DTCM) issued a notice to developers across the emirate, stating: “Your involvement as developers is ... More..

Amanat Holdings quarterly profit rises more than five-fold

May 8 ,2016, city : Dubai

The Dubai-listed healthcare and education company Amanat Holdings reported a more than five-fold jump in first-quarter net profit, thanks to its Al Noor Hospitals Group share sale and its Islamic finance products.

Amanat’s net profit in the three months ending March 31 surged to Dh9.5 milli... More..

RAK Properties set to release phase 2 of Bermuda Villas project

May 6 ,2016, city : Dubai

RAK Properties, Ras Al Khaimah's biggest property developer, is set to release phase 2 of its Bermuda Villas development as part of its flagship Mina Al Arab waterfront community.

Bermuda Villas was launched in 2014 and is set for completion by late 2016, the company said in a statement.

The residential c... More..

Dh7.2m Hidd Al Saadiyat villa at the cheaper end but in a stunning location

May 5 ,2016, city : Dubai

There are few housing estates in the world where the cheapest home you can buy is on the market for a whopping Dh7.2 million.

Despite splashing out a sum equating to US$1.96 million, whoever buys this four bedroom villa in the Abu Dhabi beachfront development, Hidd Al Saadiyat, might find it diff... More..

Infrastructure work at Hidd Al Saadiyat luxury villa project nears completion

May 3 ,2016, city : Dubai

Infrastructure work at the Hidd Al Saadiyat luxury beachfront resort in Abu Dhabi is “nearly finished".

The development will feature 461 villas on a land area covering nearly 1.5 million square metres of natural waterfront land within Saadiyat Island. Initial construction on Hidd Al Sa... More..

Dubai office demand outstrips supply in prime locations in Q1

May 3 ,2016, city : Dubai

Dubai’s office market continued to see strong demand for prime commercial property, resulting in declining vacancy rates in key locations, according to real estate consultancy firm CBRE.

Its Q1 2016 Dubai MarketView said demand is currently outstripping supply in TECOM and DIFC, encouraging a new wave of development.<... More..