Archive for May, 2019

Luxury Dubai property prices fall 4.7% in past year

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Luxury property prices in Dubai have fallen by 4.7 percent on average over the past year, according to new research by real estate consultancy Knight Frank. Its Prime Global Cities Index for Q1 2019 report ranked Dubai 38th out of 45 luxury real estate markets analysed. It said prime property prices in the emirate have[…]

Dubai’s homeowners want their say on short-term rents

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The Oceana on the Palm. Unlike at other communities, the contractual documentation at Oceana does not allow the leasing of a unit for any duration “less than 12 months”. Image Credit: Supplied Dubai: Not everyone in Dubai’s property market is thrilled about landlords offering short-term rentals. The residents at the Oceana on the Palm definitely[…]

Trowers advises Rasmala on $90m UAE property deals

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International law firm Trowers & Hamlins said it has advised Rasmala Investment Bank on the structuring and set up of Makaseb Real Estate Investments and its maiden acquisition – the $90- million purchase of real estate interests at Dubai Investment Park and residential buildings in Ajman. Rasmala had earlier this month set up the Makaseb[…]

UAE’s new permanent residency rule to help property market

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Dubai: The UAE’s recently-launched permanent residency scheme could be a game changer and provide a fillip to the real estate market by encouraging expatriates to invest in property and settle in the Gulf nation, industry experts said. The United Arab Emirates last week launched a permanent residency scheme to woo wealthy individuals and exceptional talents,[…]

UAE’s permanent residency scheme to boost real estate in country: experts

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The UAE’s recently-launched permanent residency scheme could be a game changer and provide a fillip to the real estate market by encouraging expatriates to invest in property and settle in the Gulf nation, industry experts said. The United Arab Emirates last week launched a permanent residency scheme to woo wealthy individuals and exceptional talents, a[…]

UAE central bank projects 2% GDP growth for 2019

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The UAE Central Bank located on the Baynoonah street in Abu Dhabi. Image Credit: Gulf News archives Dubai: The UAE’s central bank has projected growth of 2 per cent in real gross domestic product (GDP) this year, up from an estimated 1.7 per cent in 2018. The new GDP projections are lower than International Monetary[…]

Coin-op amusements news | New expo centre to emerge from 2020

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The Expo 2020 event in Dubai will have offshoot developments likely to interest the attractions industry, including a new exhibition centre, according to reports from industry analysts. They cite Dubai South, Meydan City, Muydon and Town Square as likely downtown neighbourhoods to benefit from the 2020 celebrations. The research shows that these areas are seeing[…]

Dubai property management app wins top honours

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HappyTenant, a revolutionary property management application, said it has won top honours at the third edition of the Gulf Real Estate Awards (GREA) which concluded recently in Dubai, UAE. Since its launch last year, HappyTenant application has continued to redefine the property management industry in the UAE in a smarter way, said a statement. It[…]

UAE property news: Developers must incentivise buyers as UAE rolls out Gold Card – Business

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UAE real estate developers must incentivise potential buyers and investors in light of the recently introduced Permanent Residency ‘Gold Card‘ programme – which was announced by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai in May 2019 – as well as new investor visa structures, by offering[…]