Kenya breaks two million guest barrier in 2019 | News

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Kenya welcomed more than two million guests in 2019, with American tourists among the fastest growing groups. According to the just released Kenya tourism sector performance report, a total of 2,048,334 international visitors arrived in the east African destination last year, with 1,423,971 landing in Nairobi. A further 128,222 arrived in Mombasa, with 29,462 visitors[…]

Due diligence needed before buying a property in India

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The process of filling explosives at Holy Faith H2O apartment complex in Maradu, Kochi, has been completed and the blasting point has been finalised. Image Credit: ANI Dubai: Buying a property either for your use or investment purposes is a crucial decision and it should be done with due diligence. To start with, when it[…]

DIFC and Mashreq Bank sign agreement

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Dubai-headquartered Mashreq Bank has signed an MoU with the Dubai International Financial Centre (DIFC), enabling the bank to operate escrow accounts in the jurisdiction. Mashreq, which was founded as Oman Bank in 1967, is the oldest privately owned bank in the UAE, and was the first to issue credit cards in the country.The DIFC agreement[…]

Danube completes $82m 444-unit project in Dubai

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UAE-based Danube Properties, a leading real estate developer, has announced the completion of Resortz, a Dh300 million ($82 million) luxury resorts-style property that hosts 444 residential and retail units. Once hand-over formalities are completed, homeowners could start moving into their luxury homes in the new year to start a new life full of luxury. Located in Arjan[…]

Sharia-Compliant Real Estate Lender Amlak Within Touching Distance of Debt Restructuring

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The lender, in which Emaar Properties PJSC owns a 45% stake, began the restructuring effort last summer. It had previously agreed to new terms on about USD2.7bn of loans in 2014. Faced with a persistently soft domestic real estate market, was forced to seek creditor approval to reschedule around UDS1.2bn in loans originally falling due[…]

Dubai real estate deals hit 11-year high in 2019

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Dubai registered a total of 41,988 real estate transactions in 2019, marking the highest number of sales transactions registered annually in Dubai since 2008, said Property Finder, a leading property portal in Mena. The number of property deals during 2019 also marks a growth of 20 per cent in the volume of registered property sales[…]

Dubai’s property valuations need tweaking

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File picture of a construction site in Dubai. There is a need for some balance to come about in primary and secondary market values. Image Credit: Gulf News Archive The law of unintended consequences is often associated with American sociologist Robert Merton, though its general spirit appears in many forms. Not least in Adam Smith’s[…]