Related News Articles
The Global Village is heading towards conclusion of another successful season, and with more than five million visitors being welcomed in its 19th edition, the event is likely to draw curtains on 11th April, after an eventful year.
The mega tenders awarded in 2014, and those still underway, are the ones keeping the construction sector ticking in Dubai, while also compensating for any sluggishness in awarding the projects this year.
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.
The Dubai Municipality is in the process of finalizing design consultant for Aladdin City, an iconic project in Dubai, which draws inspiration by the tales of Aladdin and Sindbad.
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.
The aviation sector in the UAE will witness strong growth over the next five years, with passenger traffic expected to jump up by 70 percent, which makes UAE the biggest aviation hub in 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.
The UAE Government has embarked on major renovation project which is aimed at reviving some of the old parts of Dubai city like Bur Dubai, Al Fahidi, Shindagha and Deira, a report said.
About 50 projects have been launched in the off-plan market across Dubai last year, and these will add 13,000 new housing units into Dubai property market, a report said.
As per the latest quarterly report issued by the MPM Properties, the real estate consultancy arm of Abu Dhabi Islamic Bank (ADIB), it has been found that 2014 has been a year of growth for Dubai real estate market.
Developers in Dubai are moving ahead with off-plan launches as they are of the opinion that it would be better to go ahead with launches now, rather than await favourable circumstances.