Thursday, April 24, 2014
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Property in Dubai

Dubai Real Estate News

Abu Dhabi realty sector jumps five-fold during 2004-09
15/11/2010 - The real estate sector in Abu Dhabi took a strong leap, jumping almost five times during 2004-2009, exceeding Dh.

$150mn Billionaires Square to come up in Dubai Media City
12/11/2010 - Dubai will soon witness the launch of a $150mn Billionaires Square at Dubai Media City.

BID confirms handover of Bawabat Al Sharq Mall units as scheduled
8/11/2010 - The Baniyas Investment and Development Company (BID) plans to handover the retail spaces of Bawabat Al Sharq Mall to their tenants on 2nd December 2010, on the day of celebrations for the UAE National Day.

US$1bn investment to turn Sowwah Island into high-end complex
5/11/2010 - The Mubadala Development Company, an Abu Dhabi government investment unit, said that it has awarded a contract to Farglory Land Development Company to invest US$1billion in turning four sites in Abu Dhabi into high-end residential and commercial complex.

Abu Dhabi office sector may turn tenant-friendly in 2011
4/11/2010 - The Abu Dhabi real estate will see handover of several new grade A office buildings next year, making it the year for tenant movement, said CB Richard Ellis (CBRE) on Monday.

RAKIA Industrial Parks among best ten economic potential free zones in the world
24/9/2010 - The Ras Al Khaimah Investment Authority (RAKIA) Industrial Parks is one among the worlds 10 best economic potential free zones, according to FDI Magazines inaugural global ranking of economic zones.

Realty sector seeks high caliber professionals
16/9/2010 - The Middle East region is likely to see huge demand for high caliber professionals within the real estate sector in 2010, as per the report by Macdonald & Company, a leading specialist property recruitment consultancy.

UAE focusing on new laws to boost investments
31/8/2010 - The UAE Ministry of Economy is in the process of finalizing the 12 new laws that are to form a part of the plan to modernize the legislative system and improve the business environment, inline with the UAE strategic vision for 2021.

Increase in property ownership among GCC nationals in UAE
31/8/2010 - The Ministry of Finance has released statistical data for 2009, pertaining to the Gulf Common Market (GCM), which proves that UAE is at the forefront of the GCC nations in GCM integration.

Sharjah mulls granting permits to non-GCC nationals for owning of properties
13/8/2010 - Sharjah is considering the positives of permitting non-GCC nationals to own property in the emirate, it is said.

Offenders of housing fee regulation likely to be blacklisted
12/8/2010 - The Dubai Municipality may blacklist those breaking the housing fee regulation, although no such proposal has been finalized at present, said a senior official who spoke to the media.

Mubadala, US group, launch new joint venture firm
19/7/2010 - Mubadala has signed deal with Pramerica Real Estate Investors, the real estate arm of US-based Prudential Financial, to launch a company to raise capital from investors to fund real estate projects in the emirate and other global markets.

Housing Fee in Dubai to be collected every month
7/7/2010 - Tenants in about 17,000 residential units in Dubai will now have to follow the new method of monthly payment of housing fee, as announced by Dubai Municipality to bring about uniformity in fee collection system.

Nakheel announces second phase of debt payments to creditors
2/7/2010 - Nakheel, the real estate giant in Dubai, has begun paying out the second phase of cash and securities deal.

Under-declaration of housing fee may lead to legal action
11/6/2010 - The Dubai Municipality has released a lawsuit for residents who under-declare their rents so as to pay a lower housing fee.

Burj Khalifa announces service charges for the year
7/6/2010 - The service charges for the current year in Burj Khalifa the tallest tower in the world, has been established at Dh.

Housing fee mandatory since January 2011
31/5/2010 - The Dubai Municipality has announced mandatory housing fee, beginning 1st January 2011, aiming to bring in about 300,000 unit occupants evading the fee, a top government official said.

New Rent Dispute Resolution Committee established in Abu Dhabi
5/4/2010 - Abu Dhabi residents can now settle their rent disputes quickly and amicably with the establishment of a rent dispute settlement committee.

Marina Square first phase units to be handed over in May
31/3/2010 - Real Estate Developer, Tamouh, will handover 3,446 units to investors, which forms the first phase of Dh.

Largest international airport in the world in progress
25/3/2010 - Dubai will unveil the first section of its new international airport in June, aiming to be the largest passenger and cargo hub in the world.

UAE may not permit 100percent foreign ownership
25/3/2010 - The new Companies Law, likely to be introduced this year in the UAE, will relax foreign ownership restrictions, but will not permit 100percent ownership, an official said.

Dubai developers seen re-possessing units from investors
19/3/2010 - Dubai developers have begun to repossess units from investors who have begun defaulting on payments.

Sorouh awards contract for scheduled completion of Alghadheer
1/3/2010 -

One of the leading real estate developers in Abu Dhabi, Sorouh Real Estate PJSC has awarded the main infrastructure contract for Alghadeer project, as its development enters into the next phase, heading towards scheduled completion by 2012.

Property prices in Dubai record 47 percent fall in Q3
12/12/2009 - Residential prices are now increasing in majority of locations across the globe, with nearly 70 percent of the locations in the Knight Frank Global House Price Index reporting growth in the third quarter 2009.

Dubai office rents remain stable last month
3/12/2009 - Rent decline has been continuing its breather in Dubai, with the residential and commercial rents remaining static in November, as revealed by Asteco, the property management company.

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