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Dubai developers start offering payment deferments to offplan buyers

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Developers in Dubai have a better grip in handling the payment situation created by the COVID-19 crisis than in 2009, when buying activity just vanished. (Picture used for illustrative purposes only.) Image Credit: Gulf News Archive Dubai: Offplan property owners are starting to get deferments on their upcoming instalments, as more developers in Dubai realise[…]

Kuwait index falls, property shares hit Dubai – Markets

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DUBAI: Dubai’s stock market ended lower on Wednesday, dragged down by property shares, while the Kuwaiti index dropped to a 9-week low as investors shunned stocks across the board. Saudi Arabia’s benchmark index added 0.1%, with Saudi Telecom Company rising 2.3% and Al Rajhi Bank up 0.4%. After trading hours, Saudi Telecom reported a second-quarter[…]

Experts discuss UAE property service charge issues

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Leading experts from real estate industry discussed ways to keep communities and buildings well maintained at all times and issues related to ‘Property Service Charges’ during a recent webinar organised by UAE developer Falconcity of Wonders.   The popular ‘Experts Talk Show’ webinar series by Falconcity of Wonders hosted its fifth webinar episode featuring invited[…]

Dubai expats race for new jobs after virus layoffs

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DUBAI – Mustafa, a hipster Pakistani graphic artist, has a month to find a new job or be forced to leave Dubai among an exodus of expatriates whose futures have been up-ended by coronavirus.  The United Arab Emirates (UAE) — made up of seven sheikdoms including the oil-rich capital Abu Dhabi and freewheeling Dubai —[…]

UAE stock markets gain Dh8.7 billion – News

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Trades focused on property and banking blue chips in Abu Dhabi and Dubai. Upbeat sentiments drove UAE stock markets high on Tuesday, with trades focused on property and banking blue chips in Abu Dhabi and Dubai whose general indexes closed higher than the last trading session at 4,256 pts and 2,088pts, respectively, after[…]

Emirates News Agency – UAE stock markets gain AED8.7 bn

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Tue 21-07-2020 23:39 PM ABU DHABI, 21st July, 2020 (WAM) — Upbeat sentiments drove UAE stock markets high on Tuesday, with trades focused on property and banking blue chips in Abu Dhabi and Dubai whose general indexes closed higher than the last trading session at 4,256 pts and 2,088pts, respectively, after securing gains of around[…]

Separating the developer from homeowners associations

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Dubai’s new rule requiring transparency in OA property management companies will reduce conflicts of interest. Image Credit: Gulf News Archive It is always encouraging – and heart warming, to say the least – to read about any move to empower homeowners in Dubai. I believe any such step will be in the interest of investors,[…]