Higher impairment charges hit UAE banks Emirates NBD and ADCB

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DUBAI: Dubai’s biggest lender Emirates NBD reported a 15 percent drop in fourth-quarter earnings on Monday, below analysts’ forecasts, on a jump in impairment charges, sending its shares down around 1 percent. The bank booked impairment charges of 2.06 billion dirhams ($560.88 million) in the quarter, up more than three times from a year earlier[…]

Investors bearish on Union Prop.’s latest plans

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Young drivers at the Dwight School Festival of Speed held at Dubai Autodrome. Image Credit: Supplied Dubai: At the same that its’ Board of Directors was putting off a crucial meeting for the second time in a week, Union Properties issued a outline for a turnaround plan, which includes a Dh200 million expansion of its[…]

Dubai’s DTCM outlines rules for holiday home businesses – Business

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Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) has announced an administrative order clarifying the law of Decree No. 41, introduced in 2013, to govern holiday home activities in Dubai, which outlines regulations for operators, homeowners, and authorised tenants who wish to obtain a holiday home license. Since the commencement of the operation of[…]

Does your Dubai real estate company charge costs for the extension of Ejari? – News

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advertisement The property company that manages your rent may not collect a commission every year for the renewal of your lease. I stay in a one-bedroom apartment in Dubai, and my annual rent is Dh50,000. My real estate company, however, charges Dh2,000 every year as ‘administration costs’ for contract extension. This clause is mentioned in[…]

Dubai issues order to clarify holiday home rules | United Arab Emirates | Hospitality

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Dubai has announced an administrative order to clarify rules governing the thriving holiday home industry in the emirate following a dispute last year. According to Arabian Bussiness, Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) has outlined regulations for operators, homeowners and authorised tenants, who wish to obtain a holiday home licence. The announcement[…]

Dubai, Riyadh in Top 20 Global Dynamic Cities 2020 list

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Cities in the Middle East and Africa (MEA) are gaining momentum, with Dubai, Riyadh and Nairobi all ranked within the top 20, according to JLL’s City Momentum Index 2020 which identifies the world’s most dynamic cities from a real estate perspective.    Now in its seventh year, the JLL’s City Momentum Index combines socio-economic and[…]