The number of billionaires worldwide rose 8.5% to 2,825 in 2019, while their combined wealth was up 10.3% to $9.4 trillion. The number of UAE billionaires as well as their wealth shrank in 2019 due to lower oil prices, weakening of the property sector and lower stock market returns. There were 47 billionaires[…]

Clear guidelines form the foundation of Dubai’s updated homeowners law. These are starting to be felt in the property landscape. Image Credit: Shutterstock Under the previous JOP (Jointly Owned Property) law, all owners of units automatically became members of the owners association of their building when they purchased the unit. The owners association, through its[…]

Dubai-based Damac Properties said it has not received any potential acquisition offer following a report that its founder and chairman, Hussain Sajwani, is exploring a bid to take the company private. On Tuesday, Reuters reported that Mr Sajwani, who retains a 72.2 per cent stake in Damac Properties, had been weighing up a bid to[…]

The real estate industry is a key pillar of the UAE economy, and it has been going through a correction phase in recent years due to the widening gap between supply and demand. Leading property developers had been rushing to complete their development projects ahead of Expo 2020, which has now been rescheduled to next[…]

Keep watching out for the listings… there could be some good bargain prices depending on sellers’ mindsets. Image Credit: Gulf News Archive Dubai: The COVID-19 seems to have shifted what investors are looking for in Dubai property – and completed homes are what’s interesting them right now. This should come as a warning for developers[…]

DUBAI (Reuters) – Dubai’s real gross domestic product shrank by 3.5% year-on-year in the first quarter, the government’s media office said in a statement on Tuesday, as the Middle East’s business and tourism hub feels the impact of the coronavirus crisis. Citing data from the emirate’s statistics centre, the government said some sectors such as[…]

DUBAI (Reuters) – Dubai’s real gross domestic product shrank by 3.5% year-on-year in the first quarter, the government’s media office said in a statement on Tuesday, as the Middle East’s business and tourism hub feels the impact of the coronavirus crisis. Citing data from the emirate’s statistics centre, the government said some sectors such as[…]

Dubai Court Image Credit: Gulf News Archives Dubai: A gang of four are on trial in Dubai accused of forging official documents to scam a property developer into selling land worth Dh11 million. A legal department employee at the property developer discovered the scam when a 42-year-old Indian businessman presented to him a request to[…]

Aster Pharmacy has a growing network of more than 200 stores across all emirates Image Credit: Supplied Aster Pharmacy has always been the custodian of good health for UAE residents, with a growing network of more than 200 stores across all emirates, built upon three decades of experience. The pharmacy offers customers a wide range[…]