Dubai to see ?significant? rent drop from 2016

Asteco?s latest report showed that as of the last quarter, rental rates for apartments in Dubai were 7 per cent higher than in the same period of 2013 Dubai: Housing rents in Dubai could post a significant decline from 2016 onwards, as thousands of new apartments and villas will be completed this year, according to Read More …

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Dubai rents softening in 2015; expect bigger decline next year

A number of real estate consultancies are expecting rents to decline this year. Tenants should be happy as the rents will not merely soften in 2015, but will continue in 2016 as well when new properties come on stream. ?A further 12,000 apartments will be added to the city?s existing inventory in 2015 as well Read More …

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Dubai property market will mature further in 2015: Emaar chief

Dubai?s property sector will continue to emerge as a more mature market in 2015, with the real demand now coming from end-users and long-term investors, Chairman of Emaar Properties has said.?The concerted efforts of the Dubai government have helped manage the supply pipeline, and at the current trends of population and tourism growth, demand is Read More …

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75% Dubai residents plan to move homes after rent hikes

Nearly 75 per cent of Dubai residents plan to move to new homes on lease renewal due to rent hikes. The results of the survey showed that as many as 84 per cent claimed rent increase during 2014. It said nearly 36 per cent of emirate?s respondents experienced an increase between 1 to 10 per Read More …

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Rental hikes do force tenants? hands

Dubai?s residents are willing to move. Getting hit with sharp increases in rental demands is forcing many to consider making the shift to a new residence. A comparison site for moving and household service companies, found that 65 per cent of respondents planned on a move upon their next lease renewal. The poll was conducted Read More …

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Dubai has more millionaires with 2nd homes than Paris, LA

Dubai ranks among the Top 5 cities in the world in terms of hotspots that can boast of the maximum number of ultra-rich with second homes or holiday homes. With 8,200 such multi-millionaires, Dubai is ranked at No 5 in the world, ahead of much more established markets like Paris, Zurich, Geneva and Los Angeles. Read More …

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Dubai rents have increased by 23.7% year-on-year

Residential rents in Dubai continued to rise in June. According to new figures , the 0.16% increase in June brought the overall increase in rents for the year to 23.7%.The high year-on-year growth shows that property investments in Dubai are offering strong returns to investors. It also bodes well for the future as, despite the Read More …

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Get set for rent hikes: Dubai rents still below peak levels

The pace of rental growth in Dubai may slow down in 2014, but rents will rise even though nearly 25,000 new housing units are likely to enter the market. ?As rent values and sale prices continue to rise in Dubai?s established communities, tenants are likely to relocate to more affordable areas within Dubai, with some Read More …

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Landlords asking for tenants’ nationality in Dubai

Tenants in Dubai are complaining that some owners of houses, particularly in the free zones, are setting their own terms for renting outside the terms of the contract. They claim that some property owners enquire about the nationality of the tenant and the nature of his work, monthly income and the number of members in Read More …

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Sharjah landlords can set new rent after 3-year lease contract is over

A landlord is free to fix a new rent post the three-year rent contract with a tenant, Sharjah Municipality has said. The Municipality added: ?But if you find the increase unreasonable, you can file complaint at the rent regulation department to decide the proper increase.? In Sharjah, a tenant is protected from rent increases, as Read More …

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Dubai Land Department chief defends 4% transfer fees

The total amount of real estate transactions in Dubai has crossed Dh101 billion since the beginning of 2014, according to Dubai Land Department (DLD). ?Nearly 26,645 transactions worth a total of Dh101 billion in the Dubai real estate market since the beginning of 2014. The marked attracted a total of 16,743 investors,?. Talking about the Read More …

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Real estate transactions in Dubai cross Dh100 billion

Dubai real estate market, which attracted a total of 16,743 investors in the first five months of the year, would continue the buoyant trend. ?The strong performance in the real estate sector indicates a trend that we expect to be sustained over the next year and beyond. The number and value of real estate transactions Read More …

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Labour Ministry launches ‘Field Experiences’ initiative

The Ministry of Labour MoL has launched the “Field Experiences”, an initiative aimed at strengthening cooperation between government and private sectors through the exchange the best customer service experiences. The initiative will contribute to the development of action mechanisms and efficiency in corporate performance, and the improvement of quality of production, which will reflect positively Read More …

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Demand grows for Dubai’s office spaces

Economic vibrancy following Dubai?s World Expo 2020 win has led to increasing demand for commercial office space in the Emirate, according to Clutons? latest report. As a result of the heightened demand, rents for prime Grade A space in particular have continued to climb with a 10% increase recorded in Q1, pushing average rates to Read More …

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Dubai economy to grow 5% in 2014 says official statistics center

The Official Statistics Center has revealed that Dubai?s economy is expected to grow by 5% in 2014, continuing the dramatic pace of growth seen in 2013 Dubai?s economy expected to see 5% growth in 2014 Rate of growth to be similar to 2013, according to Dubai Statistics Centre Executive Director Arif Obaid al-Muhairi makes announcement Read More …

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Protection of property market guaranteed by Dubai laws

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman of Emirates Group, and Chairman of Dubai Supreme Fiscal Committee, on Tuesday affirmed that the measures, regulations and standards introduced by the government for property finance on the local and the federal level can protect the market against any volatilities, crises Read More …

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DFM index jumps 3.33%

The Dubai Financial Market (DFM) Index kicked off trade this month with a strong start as it climbed 3.33 per cent on Sunday to end at 5,247.29, marking the biggest jump in shares since January. Meanwhile, the ADX Securities Index rose 0.30 per cent to end 5,073.54. Mohammad Al Hammadi, economic researcher and independent investor, Read More …

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Dubai office rents double: Click for where

Businesses in Dubai are taking up more office space as they increase the size of their workforces, with rents likely to jump 20 per cent this year, according to Knight Frank. ?Dubai?s office sector made a strong start to the year, with the number of leasing transactions up significantly in both annual and quarterly terms Read More …

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Dubai shares gain on upbeat realty outlook

Dubai?s DFM General Index? on Sunday climbed 0.6 per cent to 5,116.49 points, the seventh consecutive gain in eight days by the benchmark gauge. Real estate companies that have been seeing a big revival of fortunes since the second half of 2013 mostly drove the sustained rally by Dubai?s key index. As Emaar Properties, the Read More …

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