Archive for July, 2018

Deyaar’s first-half net profit at Dh65.2m

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Dubai: Deyaar Development on Sunday posted a net profit of Dh65.2 million for the six months ending June 30, 2018, a 2.6 per cent decrease over Dh67 million profit it made in the first half of last year. In the same period, the property developer reaped Dh314 million in revenues, 0.7 per cent less than[…]

Why Airbnb is gaining popularity in Dubai

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Dubai figured among the top five most expensive global cities for Airbnb accommodation in a recent Bloomberg index. However, Airbnb rates in Dubai are still more competitive compared to those charged by hotels and serviced apartments. The Bloomberg index puts Dubai’s short-term rentals at an average of $185 a night. However, Airbnb disputes this and[…]

MIDEAST STOCKS-Property lifts Dubai, Saudi lacklustre on valuation concerns | News by Country

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* Emaar Malls’ strong earnings boost Dubai property stocks * Saudi flat as valuation concerns weigh on investors * Industries Qatar supports Qatar index By Saeed Azhar DUBAI, July 30 (Reuters) – Strong earnings by Emaar Malls lifted Dubai shares and selective buying in top blue-chip companies helped Qatar rebound from early losses, as most[…]

Deyaar’s net profit down 2.6pc in H1

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Deyaar Development, one of the leading property developers in Dubai, UAE, has registered a net profit of Dh65.2 million ($17.7 million) for the first half, down 2.6 per cent over Dh67 million for the same period last year. Announcing the results for the six months ending June 30, 2018, Deyaar said its revenues too registered[…]

Blockchain ‘to transform Dubai real estate market’

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Blockchain technology can transform Dubai’s real estate market and the wider economy by bringing in a new level of transparency to attract global players, said international investment and advisory specialists Cryptech.   The company believes the Blockchain 2021 strategy by government agency Smart Dubai will deliver a major boost to the economy by winning the[…]

Enriching Dubai’s ‘third space’ | GulfNews.com

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As Dubai’s retail real estate footprint continues to aggressively expand, analysts say development efforts may be moving in the right direction, in tune with a global trend. The key: innovation, particularly in food and beverage (F&B) concepts. According to CBRE’s retail science research report, How Global is the business of retail, the continued success of[…]

Pakistan tax amnesty to end on July 31

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Dubai: Pakistani nationals who hold movable or immovable property and undisclosed cash in foreign countries have been cautioned that they have only four days left to avail the tax payment amnesty scheme. They will have to pay heavy penalty or face prosecution after the expiry of this amnesty window, officials said on Thursday. A delegation[…]

How property price drops compare in Dubai, Abu Dhabi

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Property sales prices and rents across the UAE continued to fall during the second quarter of 2018, according to consultants Asteco. Its UAE Real Estate Report said that villa and apartment sales prices in Dubai declined by 4 percent over the quarter, with an annual drop of 11 percent, compared to the average 8 percent[…]

Sharjah landlords need to manage rental expectations

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New supply both within Sharjah and in Dubai will have a say in what they can expect Dubai: By year-end, Sharjah’s existing landlords will feel the squeeze on rents from either side. Both within Sharjah and along Dubai, new supply of homes could have a direct say in how landlords can price their rents. Within[…]