Dubai prime residential secondary market sales volume doubles

residential property

Total volume of transactions in the prime residential market stood at Dh7.4 billion compared to Dh5 billion in Q2 2020, an increase of 49 per cent. Prices of prime residential market fell 10 per cent from Dh1,327 to Dh1,194 per square feet. Dubai’s prime residential property market is witnessing strong transaction volumes, especially the secondary […]

Dubai property owners need to clear all service fee dues to rent or sell their units

property management Dubai

Rental Disputes Centre to hear cases as property management companies get tough on payment Property owners in Dubai must clear off their service charge dues – and not just for the year-to-date alone. Dubai: Property owners who have fallen behind on service charge payments in Dubai will not be given official clearance to rent or […]

Property developer Meraas to become part of Dubai Holding

Dubai Properties

Meraas is joining Dubai Holding in a move expected to create synergies and develop a diversified conglomerate with operations in several sectors. The move, which is in accordance with the directives of Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, “is set to combine a complementary suite of services and expertise to […]

Dubai shows double-digit growth in residential sales

Property Management company

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

marina 101

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 […]

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 […]