Key sectors provide optimism to Dubai companies

Robust economic fundamentals driven by the manufacturing, services and real estate sectors will continue to drive strong growth in Dubai despite weakening global conditions. The survey conducted by Dubai?s Department of Economic Development, or DED, during the last quarter of 2014 reveals that most businessmen are upbeat about 2015 on the backdrop of a stable Read More …

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Dubai stocks may extend gains despite oil’s pull-back

Positive momentum may support stock markets in Saudi Arabia and Dubai on Monday despite oil’s pull-back, after both markets surged on rising trading volumes in the previous session.Brent crude fell 2.6 percent to $51.59 on Monday after US unions called a refinery strike and traders cashed in on strong price gains last week, when the Read More …

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Dubai index rebounds with global markets

The Dubai index rebounded after global markets jumped on Friday led by Arabtec. The Abu Dhabi index also jumped. The Dubai Financial Market General Index was 4.76 per cent higher to be at 4,473.49 at 11.31am, after losing nearly 14 per cent in the past week. Arabtec, the most-active stock by value in trade, jumped Read More …

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Dubai Property Boom: New projects worth billions unveiled at Cityscape

The stage is set to make new project announcements in Dubai. Developers have put in billions of dirhams into Dubai?s property market from early this year, but a wave of new projects, worth billions of dirhams, will be unveiled at the three-day Cityscape Global property exhibition. Union Properties, a Dubai Financial Market-listed developer, will unveil Read More …

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Rents fall in Dubai for first time in three years

Dubai rents have started to fall for the first time in three years.It could spell the end of a period of unprecedented housing inflation in which rising rents forced thousands of tenants to downsize or moved out of the emirate. And with 19,000 homes expected to be handed over in Dubai next year, landlords may Read More …

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Dubai beats 53 global cities, remains world’s hottest property market

The pace of increase in property prices in Dubai has slowed, but compared to 53 other global cities they are still increasing at the fastest pace in the world. Dubai continues to top the annual rankings for the fifth consecutive quarter, recording an annual price growth of 24 per cent though it has dipped from Read More …

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Brand Dubai to feature qualitative, non-traditional innovative initiatives

Brand Dubai team has announced to launch a series of important initiatives in the next period to highlight the innovative components of the Dubai developmental experience through implementation of a set of innovative ideas in many areas across the Emirate of Dubai. The initiatives and projects will be conducted in cooperation with elite of talented Read More …

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Dubai changes financial rules to lure richest investors

Dubai is changing its financial rules in an effort to attract more asset managers – particularly those serving the richest and most risk-tolerant investors, such as hedge funds and private equity funds – to base themselves in the emirate. The rules create a new class of funds that can be domiciled in the Dubai International Read More …

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Dubai’s Pure Gold launches first overseas boutique in Paris

Dubai-based jewellery firm Pure Gold Group has announced that its Arianna boutique brand has launched in its first international market. The company said in a statement that its luxury multi-brand jewellery boutique has opened in Paris. Located in the Peninsula Hotel, the outlet features jewellery and accessories designed by the likes of Gucci, Roberto Coin, Read More …

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Dubai’s Palm Jumeirah signs six villa deals with investors

Palm Jumeirah has closed the biggest villa deals in Dubai for the second consecutive quarter in 2014, with investors spending nearly Dhs219m on the six deals. The costliest of the top 10 deals was completed for a Palm villa, which sold for Dh58.8m, or Dh7,684 per square feet. Two transactions in Emirates Hills took the Read More …

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Dubai parking permits for seniors, disabled via RTA smartphone app

The Roads and Transport Authority (RTA) has launched a service for issuing and renewing parking permits for the elderly and the disabled, and renewing permits for the disabled through smart phones using RTA DUBAI App. The move is part of RTA’s incessant efforts towards harnessing the technology for serving the community and customers inspired by Read More …

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Dubai Trade posts good H1 growth

Dubai Trade, the cross-border trade facilitator, has announced a 94 per cent increase in the number of its services accessed online in the first half of 2014 compared with the same period last year. The massive growth happened as Dubai Trade has worked with customers to encourage online use with training courses and support through Read More …

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Dubai Investments’ H1 net profit more than doubles

Dubai Investments PJSC (DI), the leading investment company listed on the Dubai Financial Market (DFM), ?its net profit for the first six months of 2014 has surged to AED 805 million, an increase of 118% compared to a net profit of AED 370 million for the similar period last year. Announcing its financial results for Read More …

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U.A.E.’s Deyaar sells its 5.98-acre plot in Texas, U.S.

Deyaar Development PJSC, a U.A.E. developer and property management company, on Wednesday announced the sale of its 5.98 acre plot of land in Houston, Texas, U.S.A. The Dubai-based developer said it aims to reinvest the funds into expanding its project portfolio in Dubai. “The sale is in line with our overall strategy to direct our Read More …

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Arabtec shares rebound spurs rally on Dubai Financial Market

The Dubai Financial Market had its best day in more than nine months yesterday as shares in Arabtec rebounded to close up 5.1 per cent. The Dubai market?s broad rally lifted its main index 6 per cent on the day and nearly reversed Tuesday?s losses, when the index shed 6.6 per cent. While Arabtec shares Read More …

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Expo 2020: Work starts on mega Dubai projects; new unveiled

Dubai developers have commenced work on mega projects and are set to complete their developments much before 2020. The aim is to deliver their iconic projects (tourist attractions) ahead of Expo 2020, which will run from October 20, 2020 to April 10, 2021, and aims to draw more than 25 million visitors to the country. Read More …

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Dubai market shown clean pair of Christian Louboutin heels

The luxury French designer Christian Louboutin found out knock-off versions of its famous red-soled shoes were readily on sale in Dubai?s Al Karama markets. The designer last year filed a complaint with the Dubai Department of Economic Development. It provided DED officials with samples of the fake shoes obtained from the market, along with the Read More …

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Dubai Real Estate Market Expected To Reach Pre-Crisis Levels Soon

Residential property prices in Dubai could return to a level last seen at the peak of the emirate?s real estate market in 2008, it is claimed. According to real estate firm Jones Lang LaSalle prices will continue to grow in 2014 after recording growth of 22% in 2013. But the pace of the growth is Read More …

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UAE’s residential and commercial transactions remain tentative in Q2 2012

Tasweek Real Estate Marketing and Development, a leading property advisor and solutions provider, reports that rates were subdued in the major markets of Abu Dhabi and Dubai in Q2 2012 as new supplies continued to trickle in. This reflects Tasweek’s earlier assessment that the markets could continue to be sluggish in the second half of Read More …

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