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UAE billionaire numbers fell in 2019

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A fall in oil revenues, lower stock market returns and the weakening property sector saw the UAE’s number of billionaires fall in 2019 despite a global rise. According to the latest annual report from Wealth-X, there were 47 billionaires in the UAE – down from 55 in 2018. The total wealth among the ultra-wealthy also[…]

Global real estate market plunges amid COVID-19 pandemic

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Owning a home remains the single most important investment in most people’s lives. The novel coronavirus pandemic will impact all players in the real estate chain from tenant, landlord, lender, service provider, broker, insurer, investor, etc. A moratorium in the construction industry has been placed in many parts of the world with new protocols requiring[…]

Devmark signs up for a DMCC space

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A ThinkLab crafted imagery. The design firm has signed a partnership agreement with Devmark. Image Credit: Devmark Dubai: Devmark, a real estate consultancy, has signed a partnership deal with ThinkLab and will also open an office at Dubai Multi Commodities Centre (DMCC). ThinkLab has developed photo-realistic imagery that allows developers to showcase their renderings and[…]

Mideast Stocks: Qatar leads most of Gulf higher; property shares hurt Dubai

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By Mideast Stocks: Qatar leads most of Gulf higher; property shares hurt Dubai, Reuters News Most Gulf bourses ended higher on Thursday with Qatar leading the gains, boosted by market heavyweight Industries Qatar, although weakness in real estate shares weighed on the Dubai index. The Qatar index rose 1.4%, with petrochemical firm Industries Qatar advancing 4.6%[…]

Dubai homeowners can claim several rights from new Law

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Clear guidelines form the foundation of Dubai’s updated homeowners law. These are starting to be felt in the property landscape. Image Credit: Shutterstock Under the previous JOP (Jointly Owned Property) law, all owners of units automatically became members of the owners association of their building when they purchased the unit. The owners association, through its[…]