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The residential rentals in Dubai declined by 3 percent during the second quarter of the year, says the latest ADIB/MPM Properties Real Estate report.
With Eid Al Fitr just around the corner, majority of residents are heading on vacations.
More than 300 new jobs have opened up in Al Futtaim Group across its various business divisions.
As per the PwC Report, UAE can grow into a world-class leisure and entertainment destination and compete against cities such as Singapore, Orlando and Hong Kong, if it takes a holistic approach to exploit its unique geographical positioning, high quality attractions and investment in infrastructure.
Emphasizing on Vision 2021, the countrys strategy which gives top priority to happiness and welfare of UAE residents and nationals, HH Shaikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of UAE and Ruler of Dubai, affirmed that the country will continue to invest in qualitative development and value-added projects that ensure quality lifestyle for its nationals, residents and visitors alike.
According to an economist, the cost of living in Dubai is already showing signs of slowing down and consumers can breathe a sigh of relief.
Nakheel has expanded its lease space at Ibn Battuta Mall, with launch of another 766,000 sq ft of shop and restaurant.
According to recruitment agencies, the corporates are struggling to retain their top performers, and hence, the job market has once again shifted in favour of job seekers.
Damac Properties, the lead real estate developer said that work on its Paramount Hotels and Resort project at Burj Area of Dubai is moving ahead at a good pace, and 60 percent of the superstructure is already completed.
Salary hikes for most UAE employees will be nominal this year, although for certain sectors, the staff is likely to get better hikes than others.
A Polish architect is planning designs for an underwater tennis centre located off the Dubai coast and is now planning investment from local bankers to make the concept a reality.