Archive for January, 2019

New visa reforms to spur UAE property demand from investors

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There around 5,500 properties with a value of at least Dh5 million presently listed on portals, according to Taimur Khan, research manager at Knight Frank. “If you compare this to the number of sales, which have been registered at the Dh5-million level and above according to Property Monitor, this is less than 1,000 sales,” said[…]

Dubai property developers put bond plans on hold

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Dubai’s Emaar Properties and state-owned developer Nakheel have put on hold plans to issue U.S. dollar-denominated bonds, Emaar and sources familiar with the bond issues said, amid a real estate downturn and volatility in emerging markets. Emaar told Reuters that it had put on hold a planned bond issue, blaming rising interest rates but did[…]

Dubai property developers put bond plans on hold -sources

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DUBAI: Dubai’s Emaar Properties and state-owned developer Nakheel have put plans to issue US dollar-denominated bonds on hold, Emaar and sources familiar with the bond issues said.The firms had planned dollar-denominated sukuk, or Islamic bonds, and would have had to pay a yield premium to attract enough investors due to concerns about Dubai’s property price[…]

Lost your job in the UAE? This licence can help

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Know your legal rights in the UAE. Question1: I am a widow staying with my two children in our own apartment in Dubai. Currently, I am employed. But soon, my company will shut down and hence, I won’t have a job and my employment visa will be cancelled. My children are schooling here and in order[…]

Average Dubai apartment price falls to $330,000

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The average price of an apartment in Dubai has fallen to AED1.2 million ($330,000) and are likely to drop further in 2019, according to new research. Cavendish Maxwell’s Property Market Report for Dubai in 2018 also said that average villa/townhouse values in the emirate have dropped by AED500,000 in the past year to AED1.8 million.[…]