tag:blogger.com,1999:blog-342089612010-03-11T18:05:00.032+04:00EstatesDubai.comDubai Real Estate News - UAE Property Market Trends and Agent ReviewsExclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.comBlogger1300125DubaiPropertyBloghttp://feedburner.google.comtag:blogger.com,1999:blog-34208961.post-47209848310724807962010-03-11T18:05:00.002+04:002010-03-11T18:05:00.086+04:00New rule for offshore companies in DubaiThe Dubai Land Department will shortly announce a new legislation for offshore companies investing in Dubai Freehold market. This move aims to improve transparency in the market.Due to lack of transparency, the Land Department had halted the transaction of offshore companies for a month.The Director-General of the Dubai Land Department, Mohammad Sultan Thani, said that at present there are Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-86134893268086227072010-03-11T05:58:00.001+04:002010-03-11T06:01:58.062+04:00UAE property market to see demand-supply balance this yearThe UAE real estate market is likely to attain demand-supply balance this year, revealed a top official of Shaikhani Group, a leading business conglomerate.The UAE economy is hoped to grow by 3.2percent this year, and therefore the Company revealed that it plans to go ahead with construction of all launched projects worth Dh.1.34bn.The Shaikhani Group reported that construction work on its Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-85889154140104962072010-03-07T22:44:00.002+04:002010-03-07T22:49:05.871+04:00Slashing of mortgage rates to boost UAE real estate marketFollowing high mortgage rates, the Banks and Finance companies in the UAE are finally reducing lending rates for homes, say analysts.The Banks are relaxing their lending criteria, a measure expected to broaden the buyers base and boost the sagging fortunes of the real estate sector in the country.Several banks have reduced their charges and have increased their loan-to-value ratio, since the Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-78501348689201772972010-03-06T22:56:00.001+04:002010-03-07T22:59:51.002+04:00Investors concerned over Ivory Towers delayFollowing the halt in construction of the long-delayed Ivory Tower, several property investors fear that they would lose money on their investments, reports The National.Located in the International Media Production Zone (IMPZ), the Ivory Tower was completely sold off-plan in 2006. However, there has been no progress on the site, apart from the foundation works which began last summer at the Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-81376693424841923212010-03-04T07:01:00.002+04:002010-03-04T07:03:54.021+04:00Nakheel begins delivery of Marina ResidencesNakheel has begun handover of the sixth and final tower of Marina Residences in the Palm Jumeirah and the residents will move into the new premises within weeks.A Nakheel statement revealed that the phased delivery of Marina Residences located at the tip of island's trunk began late last year, with about 100 families taking occupancy.The handover of Marina Residences is another major milestone Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-83365100430060346822010-03-02T01:26:00.002+04:002010-03-02T01:31:41.290+04:00Steady progress of infrastructure works at Al MarjanRAKIA (Ras Al Khaimah Investment Authority), a major provider of investment opportunities and one-stop solutions in its Free Zones, Industrial Parks and Offshore facilities, in real estate developments and other ventures, has announced that the infrastructure work at Al Marjan Island, the first man-made island in Ras Al Khaimah (RAK) is progressing steadily.The Phase one of the infrastructure Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-63375105530794107312010-02-25T22:35:00.002+04:002010-02-25T22:39:18.322+04:00Orientation programme underway for first residents at Burj KhalifaWorld's tallest building, Burj Khalifa, developed by Emaar Properties, is all set to welcome its first residents with orientation programme currently on the go, for home-owners of Armani Residences, located on the 9th to 16th storeys of the tower.The interiors of the world-class, first-of-its-kind Armani Residences are in their final stages, while the completion works of The Residences are also Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-65752670105629105262010-02-24T05:02:00.001+04:002010-02-24T05:17:01.763+04:00Ajman Bank plans real estate fundAjman Bank plans to launch a real estate fund to purchase assets towards the low income group in the UAE, revealed its Deputy CEO, Ali E Alshaqoosh Al Mueen.The Bank will get necessary approval to launch a property fund from the regulatory body. The size of the fund is yet to be finalized, but the bank will contribute seed capital to the fund. There are good opportunities in the property sector Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-30768410245970040632010-02-21T23:27:00.002+04:002010-02-21T23:33:00.289+04:00Falling demand leading to low rentals in northern emiratesThe rents in the northern emirates have dropped considerably since 2009, given, the fresh supply and low demand. Even the lease rates have dropped 29 percent during the first half of 2009, says a CB Richard Ellis market report.The trend is likely to continue into first half of 2010, due to weakening demand and huge supply from within the northern emirates and the border areas of Dubai, such as Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com1tag:blogger.com,1999:blog-34208961.post-14855059656114542092010-02-15T21:49:00.001+04:002010-02-15T21:51:25.321+04:00Prices of Dubai flats to fall by 20 percent: Landmark AdvisoryLandmark Advisory, the leading property consultancy firm, has revealed that sale prices of flats, apartments and offices in Dubai will continue to fall through first quarter of 2010, due excess supply, with the apartment prices likely to take the biggest hit with a decline as much as 20 percent during the next 18 months.Following the increase seen during the third quarter of 2009, villa prices inExclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-51306362371624288452010-02-14T22:24:00.000+04:002010-02-14T22:26:05.949+04:00Safa Foundation to own and manage properties, funds in DubaiSheikh Mohammed bin Rashid Al Maktoum, the Ruler of Dubai, has established Safa Foundation, to own and manage properties and funds assigned to it by the government.Being a part of its business model, the foundation will take up ownership and manage all funds and properties, including fixed and liquid assets, which could be further invested at the discretion of the foundation.Dubai is the second Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-41898646455095059332010-02-11T06:09:00.002+04:002010-02-11T06:15:34.410+04:00Cityscape Dubai re-named as Cityscape GlobalThe Cityscape Management has announced on Monday that the Cityscape Dubai event has been re-named as Cityscape Global, and the year 2010 will be the ninth consecutive year when the Cityscape event will be held in Dubai.The change in name is aimed to acknowledge the place of the event as a significant international platform in the real estate sector. Another reason for change in name is because Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-78087830397826573512010-02-09T07:14:00.003+04:002010-02-09T07:29:43.658+04:00Developers prefer renting out completed units on furnished basisDubai developers are considering renting out their new units on furnished basis to generate immediate revenue, real estate analysts said. Few developers will want to convert their new developments into furnished apartments on short to medium or long-term basis, given the current market conditions, said Mohammed Nimer, CEO, MAG Property Development.This will help in immediate revenue generation Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com1tag:blogger.com,1999:blog-34208961.post-67804183355282818032010-02-07T00:48:00.001+04:002010-02-07T00:54:35.239+04:00Damac's Business Bay projects make good progressDamac Properties, the luxury lifestyle developer, said that the enabling works at two of its developments - Water's Edge and Commercial Square at the Business Bay are making good progress, with the main contracts to be awarded in spring this year.The Commercial Square is a 21 storey office tower, while Water's Edge is a 20 storey commercial waterfront development located at the heart of Business Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-9638117539918989002010-02-04T05:12:00.001+04:002010-02-04T05:14:31.403+04:00No major upturn seen in Dubai realty marketThere has not been any major upturn in the Dubai real estate market, as it continued to remain sluggish during the final quarter of 2009 with lease rates continuing to fall, said the CB Richard Ellis Report.The Dubai Land Department statistics indicate that the total number of transactions fell 17.7 percent, touching 520 during the fourth quarter of 2009, compared to the same period the previous Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com1tag:blogger.com,1999:blog-34208961.post-16806520194540932442010-02-02T01:13:00.001+04:002010-02-02T01:15:57.272+04:00Dubai residential prices rise 0.7pc in Q4 2009The residential prices in Dubai increased 0.7percent during the final quarter of last year, in comparison to the third quarter of the same year, reported a recent research.The increase which reflected in the new Sales Price Index for Dubai (SPID) has been launched by REIDIN.com in partnership with Real Estate Regulatory Agency (RERA) and Dubai Land Department (DLD).The new service is hoped to Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-60969714122166967112010-01-29T07:04:00.003+04:002010-01-29T07:08:48.470+04:00Work on private projects at The World to begin soonNakheel has confirmed that construction would soon commence on its off-shore island development, The World.The confirmation about the beginning of the work began when the European developer, Major Trade, announced commencement of work on its island project. Ground works, including soil testing have begun and reclaiming of the island plot and vibro-compaction will begin in February 2010, the Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-26165681118056946512010-01-26T07:21:00.001+04:002010-01-26T07:23:49.840+04:00Completed quality projects in prime localities in demandInvestors are constantly seeking high-quality properties in prime locations of Dubai, due to stability in prices and increase in demand during the past months, say industry sources.The Senior Investment Consultant at Asteco Property Management, Ken Rohan, said that transactional volumes have also increased, but investors are more focused on quality completed projects in prime localities.The Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-5864957038465031632010-01-22T06:47:00.001+04:002010-01-22T06:51:43.904+04:00Housing Price Index indicates market stabilityHousing Prices are getting closer to their underlying values, which indicates that the market is beginning to stabilize, reveals Colliers International, the real estate consultancy firm, in their latest house price index for the fourth quarter of 2009.The latest house price index for the fourth quarter 2009 indicates that prices remained stable during the fourth quarter of 2009, rising only by Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-46561551530033244812010-01-19T04:56:00.001+04:002010-01-19T05:00:07.769+04:00Rents for Burj Khalifa units to outdo other established highrisesThe lease rates for units at Burj Khalifa, the world's tallest tower, are yet to be established, although analysts believe that the rental rates for commercial spaces in the tower will easily surpass the prevailing rates in other established high-rise buildings of the world, such as those of Petronas Towers in Kuala Lumpur or the Sears Tower at Chicago, United States.The world's tallest tower Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-81861980020772263902010-01-15T06:18:00.002+04:002010-01-15T06:23:02.969+04:00Dubai records stability in apartment, villa prices: Asteco ReportDubai has recorded stability in selling prices of apartments and villas for completed developments towards end of 2009, with no changes in prices during the third and last quarter of 2009.According to Asteco, the largest property services company in the UAE, the Dubai residential and commercial property market witnessed an increase in transaction during the second half of 2009 as the economy had Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-50576608696965363222010-01-11T04:49:00.000+04:002010-01-12T04:51:24.342+04:00Ajman to establish new property dispute panel by Q1 2010Ajman will shortly announce a new committee to settle disputes between developers and investors. The committee will take up issues pertaining to cheques involved in real estate transactions.The Director General of Ajman Real Estate Regulatory Authority (ARRA), Omar Al Barguthi, said the committee was hoped to begin operations by end of 2009. But the clearance from the Ministry of Justice is Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-44543726840879859672010-01-05T20:13:00.002+04:002010-01-05T20:29:23.106+04:00World's tallest building, Burj Khalifa, now open to public The world's tallest building, standing tall at 828 meters in Dubai, has been named Burj Khalifa, by H.H. Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai. The building was known as Burj Dubai until yesterday.When unveiling the nameplate, Shaikh Mohammed said "We built the high-rise for people with strong will and determination. The highest point Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com1tag:blogger.com,1999:blog-34208961.post-48084383455655078092010-01-04T18:26:00.002+04:002010-01-04T18:35:44.465+04:00Burj Dubai Tower, Burj Dubai Metro Station, to be unveiled togetherThe Chairman of the Board and Executive Director of the Roads, Mattar al Tayer, announced that Burj Dubai tower opening will also coincide with the opening of Burj Dubai Metro Station.The RTA will officially begin operation of the Burj Dubai Metro station from tomorrow, to mark the fourth anniversary of the accession of H.H. Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime MinisterExclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com0tag:blogger.com,1999:blog-34208961.post-65276885931254878802010-01-01T01:07:00.000+04:002010-01-01T03:10:40.832+04:00New legislation on property rent cap for 2010The Vice President and Prime Minister of UAE, and Ruler of Dubai, H.H. Sheikh Mohammad Bin Rashid Al Maktoum, issued a legislation on property rent cap in 2010 to ensure the stability of property market in the emirate.The decree aims to regulate the relationship between tenants and landlords and chart a legal framework for this matter.Rent increase caps for 2010 will be set at the same rates as Exclusive Dubaihttp://www.blogger.com/profile/14489878657218497807noreply@blogger.com1