Mag Development, the real estate development arm of Mag Holding Group, on Sunday announced the launch of its Dh8 billion residential projects and a comprehensive programme of Dh120 per day payment option to own a property in Dubai – a move that will boost the company’s presence in the emirate’s real estate sector. An investment[…]

Dubai skyline. Image Credit: Shutterstock Dubai: Buy a home in Dubai for Dh120 a day? MAG Development sure thinks it’s doable, offering up to 20 year payment terms, with the per-day average at Dh120. This could yet set the new benchmark in payment plans direct from developers. Until now, the upper limit on such payment[…]

Many stakeholders in Dubai’s real-estate market have hailed the recently established higher committee, which they hope will trigger initiatives to fix supply and demand of properties in the market. While they await more details on how the regulator can tighten the loose ends, the expectation is that the move will streamline the weak market and[…]

Dubai real estate has offered one of the best rental yields in the world, especially in new communities givING better returns than many major cities around the world. Property Finder’s latest data disclosed that communities such as Meydan and Damac Hills offer gross rental yields of 9.3 per cent and 8.9 per cent, respectively. Dubai[…]

Downtown Dubai. Image Credit: Dubai: Holiday home operators in Dubai are seeking legal advice on whether a master-developer can enforce a blanket ban on their operations within a community. According to sources, the Dubai Tourism and Commerce Marketing (DTCM) has clear-cut guidelines on licensing holiday homes/short-term rentals in this market. They point to two of[…]

Dubai’s residential market has seen a significant shift in development and transactions from luxury to affordable units over the past few years, according to research by Property Finder. Dubai has traditionally been perceived as a hub for luxury properties, with the emirate attracting several high-net-worth individuals from across the world who invest in second or[…]

Downtown Dubai Image Credit: Supplied Dubai: Under the terms of sales and purchase agreements (SPAs) with property buyers, master-developers can enforce any action they deem fit for the greater good of the community. Based on this legal interpretation, Emaar can require property owners not to offer short-term leases within Downtown, citing disturbances for long-term residents[…]

Economic slowdown and oversupply pose big risks to outlook BENGALURU: Dubai house prices will decline sharply this year and next, according to property market experts in a Reuters poll, who said a slowdown in the economy and an oversupply of housing units are big downside risks to their already weak outlook. Dubai – with a[…]