Dubai shows double-digit growth in residential sales
Haider Tuaima, head of real estate research at ValuStrat, confirms that a positive buyer sentiment has been observed in the market and this has boosted investor demand. “This is likely due to attractive prices, fewer off-plan launches and delayed project completions. Annually, cash sale volumes of ready homes grew 29.7 per cent and off-plan sales […]
Shroff claims he’s still the developer of Dubai’s Marina 101 project
Indian businessman says he’s ready to complete project, but banks aren’t responding to him Centre, The Marina 101 Tower in Dubai Marina, Dubai. Dubai: Abu Ali Shroff, the founder of Sheffield Holdings Limited, claims he’s still the developer of the Marina 101 tower in Dubai Marina and that banks have not taken over the project, […]
Dubai developer Deyaar announces $416.6m losses
Financial results reveal revenues fell six percent in 2019 compared to previous year Saeed Al Qatami, CEO of Deyaar. Dubai-based developer Deyaar has announced accumulated losses of AED1.53 billion ($416.6m). As a result, the board has recommended capital reduction to offset the amount. Listed on the Dubai Financial Market and majority-owned by Dubai Islamic Bank […]
Dubai property prices forecast to stabilise in 2020, rebound in 2021
Property Finder research says rate of decline in property prices in Dubai slowed considerably in the second half of 2019 The report said it is likely that prices will stabilise in 2020, before recovering in 2021, as delivery rates of new supply start to fall. The rate of decline in property prices in Dubai slowed […]
World’s fourth largest: Dubai-Abu Dhabi gas field discovery to boost UAE’s economic growth
UAE moves closer to energy self-sufficiency at viable costs with the ‘Jebel Ali Project’ The Jebel Ali area will host the gas reservoir project being developed by Dubai and Abu Dhabi. The venture brings together Adnoc and Dusup. “The new gas find is an important step towards energy self-sufficiency for the UAE that will certainly […]
Dubai developer Damac posts first annual loss in a decade
Developer reports $10m loss for 2019 as sales and revenue both drop significantly Dubai-based Damac Properties on Tuesday reported its first annual loss in a decade as sales and revenue fell significantly in 2019 compared to the previous year. The developer made a net loss of AED36.9 million ($10 million) compared to a 2018 profit […]
Dubai waives certain government service fees to lower living costs
Dubai has approved a decision to waive certain service fees levied by the government to lower living costs and support investors. The decision was announced by Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, who is also chairman of the Executive Council. Some of the fees waived include those in the healthcare […]
Dubai property price declines slow to less than 1% in January
ValuStrat report says first month of 2020 witnessed fewer off-plan sales transaction volume, declining 20% compared to December Dubai property price declines continued to slow in January, a trend that began last summer, according to new research from real estate consultants ValuStrat. Its index covering residential values in the emirate showed a fall of 0.9 […]
