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UAE cracks down on misuse of home loans

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Dubai: The United Arab Emirates is cracking down on the misuse of home loans to prevent risky borrowing as an ongoing property slump weighs on banks. The central bank issued a notice to lenders “to stop certain unacceptable practices” involving mortgages, which enabled some borrowers to use home loans for purposes other than “constructing, purchasing[…]

Deyaar starts handover of key Dubai residential district

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Deyaar Development, one of Dubai’s leading property developers and real estate service providers, has announced the completion and handover of Dania District, part of its award-winning Midtown development. Comprising six buildings, Dania District has a total of 579 residential units, including studio apartments, one-, two-, and three-bedroom apartments. Proving an attractive property investment, more than[…]

Developers seek visa sops – News

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Property developers in the UAE have urged the government to reduce the price tag for 10-year residence visas to make the economy more competitive and attract global talent and foreign direct investment. While speaking to Khaleej Times, the industry executives said it will also help the sector to quickly absorb the oversupply in the market.[…]

India should investigate tax abuse within the country

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Indian government should look within the country to chase tax breaches, especially what happens with property transaction registrations. Picture of apartment buildings in Palava City, is for illustrative purposes only. Image Credit: Bloomberg Indians have been an integral part of the UAE’s history. If you look at different business verticals, success stories, or real estate[…]

Revealed: what $15m buys you in Dubai’s luxury property market

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Palma Holding unveils exclusive presidential penthouse, located at Serenia Residences on the crescent of The Palm Jumeirah A Dubai developer has unveiled its most exclusive presidential penthouse, located at Serenia Residences on the crescent of The Palm Jumeirah, priced at AED55 million ($15 million). The penthouse, developed by Palma Holding, has been designed to offer[…]

Dubai developer losses is telling on stocks

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Losses have shot up for developers listed on Dubai Financial Market, and that is casting a shadow on their stock performance. Image Credit: Gulf News Archive Dubai: With some of Dubai’s leading listed developers taking losses in 2019, concerns are cropping up over how this decade will shape up for them. And this has analysts[…]