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United Arab Emirates

Investors return to UAE real estate, says survey

Real estate is re-emerging as a preferred asset class among UAE investors, Friends Provident International has said in a new report.

Property investors in Dubai can seek refund and damages

Developer’s failure to complete or handover a property within a certain timeframe from date specified in the sales contract, deliberate intention of defrauding an investor or altering the specifications of the unit without obtaining requisite permission will soon allow investors to recover all the amount by them.

Sellers getting greedy as Dubai realty prices soar

Growing demand for good properties in Dubai is resulting in many owners backing out of deals, even after signing a Memorandum of Understanding (MoU), which has legal implications in place.

Dubai property: New Emaar Ranches project

The project will have two and three-bed townhouses, with the likelihood of the current owners of Arabian Ranches being given the first option to buy these properties, market sources said. Emaar had not yet responded to questions at the time of publication of this article. Data from propertyfinder.ae reveals that the average price of townhouses in Al Reem cluster is Dh2.28 million with average price per square feet being Dh807, while the average price for Alma Townhouses is Dh2.59 million and per square feet is Dh935. Real estate agents say that although there is good demand for villas/townhouses in Arabian Ranches, Emaar needs to price the product properly, within the Dh1,000 to Dh1,200 per square feet bracket. In March, the website reported that Emaar was selling the 18 Golf Homes, or luxury villas, located in the Arabian Ranches Golf Course for between Dh7.3 million and Dh11 million.

Dubai's property market appears to be on the recovery path, writes Sajeer Babu, a senior investment analyst at National Bank of Abu Dhabi. (Pawan Singh / The National)

Dubai's property market appears to be on the recovery path. Prices registered their first quarterly improvement at the beginning of this year since the price correction that started in the second half of 2008.

World’s highest penthouse bridge structure completed

Abu Dhabi-based developer Sorouh Real Estate Company has completed lifting the fourth and final section of the penthouse bridge for its 65-storey residential development Gate Towers on Shams Abu Dhabi, Al Reem Island, said a press statement today.

The Burj Khalifa and neighbourhood residences. All through last year, buyers from India were quite active in Dubai’s property space, particularly in the premium end of the market. The Downtown area was proving particularly interesting for this class of buyers as well as apartments.

Dubai: The reaction to this week's slide in the Indian rupee has had an immediate impact on Dubai's property market. Estate agency sources have confirmed cancellations of appointments by investors in India that were to take place over the next fortnight.

By Steve F-E-Cameron (Merlin-UK) (Own work (Self Photograph - for illustrative purposes only)

UAE-based TIME Hotels Management has signed a deal with Egyptian travel and tourism firm Edris Group to manage the refurbishment of the Tuthotel in Luxor.

Dubai property enjoys successful March

Property Showrooms 17.04.2012
A draft law gives property investors in Dubai entering into off-plan purchases greater security. Christopher Pike / The National

A draft law to protect Dubai homebuyers has raised concerns in the industry that it may give control of common areas to developers.

Dubai property enjoys successful March

People seeking property in the UAE may be interested in Dubai after new figures indicated the emirate performed well last month.

Property prices near Dubai Metro soared 34% - RTA

Property prices close to Dubai Metro stations have risen by up to 34 percent since 2009, according to data released by the emirate’s Roads and Transport Authority (RTA).

Rents will continue to face downward pressure until this oversupply is absorbed

Recent merger talks among Abu Dhabi property developers are an indicator that the capital’s real estate sector is going through a market cycle, industry experts said yesterday.

Mahmoud Al Burai, managing director of DREI.

The Dubai Real Estate Institute (DREI), the educational arm of Dubai Land Department (LD), will start offering its Certified International Property Specialist Program next April, which is being offered for the first time in the GCC region to enable real estate professionals to join a global network of international certified experts and deal with an increasingly globalized property environment.

Overseas property hunters looking to UAE again?

Overseas property hunters are increasingly turning away from the eurozone and considering an investment in the UAE, according to PrimeLocation.com.

Sales of Dubai property 'pick up'

Property Showrooms 24.02.2012
Sales of Dubai property 'pick up'

There has been an upturn in demand from local purchasers in the Dubai real estate market. Cluttons revealed it has noticed an increase in the number of domestic investors who are returning to the emirate's property sector, as many commentators now believe it has reached its lowest point.

Greece deal has positive effect on Abu Dhabi's bourse. (Sammy Dallal / The National)

Abu Dhabi shares rose lifted by property and construction stocks, after European policymakers approved a second bailout for Greece to stem the region's debt crisis.

Welcome reprieve for Emirati investors

Orlando Crowcroft, Gulf News 19.02.2012
The softening of the UAE property market had negative consequences for Emiratis as well since, unlike expatriates, they could not simply get on a plane and never come back.

Dubai: Emiratis were by no means alone in being hit by the plunge of Dubai's property market, when both novices and experienced investors were stung by flipping one apartment too many.

Economic factors set to boost demand for residential property in Dubai, it is claimed

A more positive economic outlook and improved employment prospects are set to boost demand for residential real estate this year in Dubai, it is claimed.

Incentives on rise for property buyers in Abu Dhabi

Rebecca Bundhun The National 16.02.2012
Incentives on rise for property buyers in Abu Dhabi

Discounted mortgages and offers such as "rent to own" are expected to become a growing feature of Abu Dhabi's property landscape as developers compete to fill new homes coming into the market.


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