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The UAE is almost completing the draft of a new Foreign Investment Law which allows 100 percent foreign ownership of businesses in certain sectors, revealed the Economy Minister of the country, Sultan bin Saeed al-Mansouri.
The Dubai Investments Park (DIP) has announced more than 1,150 housing units, including townhouses, single, double, and triple bedroom and studio apartments that are now under construction within the development.
According to analysts in Dubai, 2015 may be the best time after so many years in the past, to invest in Dubai real estate, given, the comparatively low property prices and the slight decline in home loan rates.
Status of UAE as a tax haven is further strengthened by the fact that the country has least demanding framework, and lowest average total tax and time to adhere to in the world, said a lead global consultancy.
The Dubai Municipalitys proposal to introduce mandatory affordable housing quotas for all new residential developments is long overdue, and it is likely to bring in a range of benefits to the UAE emirate and will drive in more maturity into the market, says leading international real estate consultants, Cluttons.
The residential prices in Dubai have decreased during the first six weeks of the year, in comparison to the previous quarter, as international demand fell, said a report.
Dubai is all set to house the first tropical Rainforest in the Middle East, as the emirate continues its drive to attract tourism from all over the world.
Several global real estate consultancies in Dubai have predicted a decline in rentals this year, but, Reidin Housing Market Sentiment Index Survey has predicted a rental decline in the first quarter of the year itself.
Owing to mounting rents last year, majority of companies in the UAE are said to be reviewing their housing rent allowances given to employees to help them protect against the annual spend on accommodation.
A total of 42 homes are being developed by the Kleindienst Group on the Monaco Island, which form part of Heart of Europe project on World Islands, with about 20 of the properties owned by the firm Privilege Dubai.
The 20th edition of Gulfood, the worlds largest annual food and hospitality trade show, has been unveiled by Sheikh Hamdan bin Rashid Al Maktoum, the Deputy Ruler of Dubai and Minister of Finance and Industry.