No developer can impose rules on holiday homes in Dubai

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Dubai skyline. Estimates suggest that there are between 8,000-12,000 “active” listings of Dubai holiday homes offered for short stays. Image Credit: File Dubai: No developer or owners association (OA) in Dubai can bar licensed holiday home operators from their buildings or communities. This has been made explicitly clear by a new directive issued by Dubai[…]

Global market risks dim, but not snuffed

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Global equity markets have been on a positive trajectory as investors were encouraged by the signing of a phase-one trade agreement between the US and China. Image Credit: AP Dubai: The first two weeks of 2020 saw equity markets rally after the world’s top two economies put an end to about 18 months of escalating[…]

Hyatt Place Dubai names new cluster sales and marketing head

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Hyatt Place Dubai, Hyatt’s upscale select service brand of hotels, has promoted Sanjay Nambiar to cluster director of sales and marketing. Nambiar will be responsible for generating maximum revenue and executing strategies that will drive sales across all four Hyatt Place hotels in Dubai, namely Hyatt Place Dubai/Al Rigga; Hyatt Place Dubai/Baniyas Square; Hyatt Place Dubai/Wasl[…]

UAE’s housing market remains gloomy

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Dubai house prices fell by 4.52% y-o-y in Q3 2019 In Dubai, residential property prices fell by 4.52% during the year to Q3 2019, its 19th consecutive quarter of y-o-y price falls, amidst weak economic growth, low investor sentiment, and an oversupply of housing. During the latest quarter, house prices in Dubai rose slightly by[…]

Crunch time for Union Properties

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One of Union Properties’ key assets – Motor city. Image Credit: Gulf News Archive Dubai: Union Properties will hold a Board of Directors’ meeting later today, with any decision taken having an outsized influence on the developer’s future. In particular, investors and ant other entity with an exposure in Union Properties will be particularly interested[…]

Dubai rents may be bottoming out as ‘green shoots’ appear

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KUWAIT CITY: Gulf airlines still fly in Iraqi and Iranian airspace and to cities in both countries, even as other international carriers have rerouted planes since the US and Iran traded military strikes. Executives and analysts said carriers in the Gulf, a major transit stop between European and Asian destinations, have few alternative routes to choose[…]

Dubai home prices, rental rates stabilise: study

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Dubai’s real estate market could be seeing the first signs of growing market confidence, said property services provider Chestersons, as a result of a notable slowdown in apartment sales price declines and the stabilisation of rental rates. Transaction values for the year also underscored the positivity in the market with completed units witnessing a 60[…]

In Dubai, developers turn mortgage providers

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There is plenty of interest among Dubai residents to get into home buying rather than keep paying rents. But mortgages are a sticking point. File picture of apartments at Jumeirah Village Circle. Image Credit: Gulf News Archive Dubai: Banks in the UAE are just not offering enough mortgages to support home ownership – and even[…]