While many have likened the current coronavirus pandemic to the global financial crash in 2008, Dubai’s real estate experts are offering up a more optimistic outlook amid all the doom and gloom The financial scars of the 2008 banking crisis had long since disappeared, but the traces of its impact are still clearly visible. Parking[…]

MOST Middle Eastern stock markets fell on Sunday, with Kuwait’s main index leading losses after S&P Global Ratings cut the government’s credit rating last week. The Boursa Kuwait Premier Market Price index lost as much as 4.7%, with Kuwait Finance House, National Bank of Kuwait and Ahli United Bank dropping more than 3.9%. Kuwait was[…]

LONDON: Sovereign wealth funds from oil-producing countries mainly in the Middle East and Africa are on course to dump up to $225 billion in equities, a senior banker estimates, as plummeting oil prices and the coronavirus pandemic hit state finances. The rapid spread of the virus has ravaged the global economy, sending markets into a[…]

Dubai-based Indian businessman Ajay Sobhraj has donated a property in Dubai to turn it in to a quarantine centre. Image Credit: Dubai: Ajay Sobhraj, Founder and Chairman of Dubai-based Finja Jewellery, has donated a building in Jumeirah Lake Towers (JLT) to be used as a quarantine centre. The gesture reflects the support that the Dubai[…]

Sign up here for our daily coronavirus newsletter on what you need to know, and subscribe to our Covid-19 podcast for the latest news and analysis. Limitless World LLC is close to hiring financial and legal advisers for the Dubai-based developer’s third restructuring as the emirate’s on-going property slump is set to worsen. The company[…]

Dubai skyline. Image Credit: WAM Dubai: The postponement of rent payments for up to 6 months has been announced by the Dubai Free Zones as part of the economic stimulus package under the directives of Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai. The raft of[…]

Dubai skyline. Some developers have really exhausted the reputation of Dubai as an international real estate and business hub – by continuing to supply the market with offplan projects that are priced an average 20 per cent higher than more or less the same properties offered on the secondary market by individual investors. Image Credit:[…]

Emma Boyde 3/25/2020, 11:47:29 PM Mnuchin optimistic Senators will approve $2tn economic stimulus James Politi reports from Washington Steven Mnuchin, the US treasury secretary, said he expected the $2tn economic stimulus package to pass the Senate later on Wednesday despite last minute opposition from a group of Republican lawmakers to a provision expanding unemployment benefits.[…]

Nakheel is extending a helping hand to its tenants across its malls and other commercial properties. File picture of recently opened Nakheel Mall on the Palm. Image Credit: Gulf News Archive Dubai: Nakheel has come out with a Dh230 million economic relief package for its clients following the COVID-19 outbreak. The package aims to “reduce the financial burdens[…]