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DAMAC’s third quarter profit plunges 78%

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DUBAI (Reuters) – DAMAC Properties, owner of the only Trump-branded golf club in the Middle East, reported on Wednesday a 78% drop in third quarter profit amid an extended slowdown in Dubai’s property sector. A supply glut has slowed the market for most of the decade, apart from a brief pickup more than five years[…]

Damac sees drastic profit, revenue fall

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The Damac stand at a recent Property show in Dubai. Damac Properties recorded a sharp decline (46 per cent) in nine-month revenues to Dh2.8 billion from Dh5.2 billion. Image Credit: Gulf News Archives Dubai: Damac Properties recorded a sharp decline (46 per cent) in nine-month revenues to Dh2.8 billion from Dh5.2 billion. Net profit was[…]

Dubai’s tourism growth boosting holiday homes – News

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The continued growth of Dubai’s tourism industry has encouraged investors and homeowners to capitalise on the abundance of opportunities in the holiday homes market, leading to an exponential growth in short-term rental units in the emirate and adding to the broad range of accommodation options that are available for tourists. Dubai’s Department of Tourism and[…]

The upside of gardening with your kids

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For many of us, The Secret Garden by Frances Hodgson Burnett will have been a favourite read from our formative years — …and the secret garden bloomed and bloomed and every morning revealed new miracles. Indeed, child development experts have long extolled the benefits of garden activity as it encourages kids to engage their senses[…]

In the ‘year of delivery’, real estate developers focus on immediate demand

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Last year witnessed a rush of developers launching new projects. This year off-plan launches have slowed down significantly. There have been 7,800 units launched so far this year, significantly less compared with around 18,000 last year and the lowest for the past three years, says Faraz Ahmed, research manager at JLL Mena. Launches from private[…]

DLD to hold IREC 2020 in Dubai – News

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The conference will be held in conjunction with Expo 2020 Dubai, attracting leading international real estate leaders to the Emirate. Dubai Land Department (DLD) has announced its collaboration with the US National Association of Realtors (NAR) for holding the 2020 edition of International Real Estate Conference (IREC) in Dubai, in conjunction with Expo[…]

Dh635m realty deal is largest this year

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An image of The Tower at Dubai Creek Harbour. A recent property transaction at Dubai Creek Harbour valued at Dh635 million is one of the largest real estate deals recorded in the emirate in recent years. Image Credit: Dubai Media Office Twitter A recent property transaction at Dubai Creek Harbour valued at Dh635 million is[…]

Dubai’s service charge setting needs a relook

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The difference in service charges across various areas is based on two major components, which are the quality and facilities of the master community and the common areas and facilities within the project Image Credit: Megan Hirons Mahon/Gulf News By Firas Al Msaddi, Special to Gulf News We cannot generalise on Dubai’s service charges rates,[…]