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 […]