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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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 Land Department launches new ?Why Do You Keep It?? Campaign

Dubai Land Department (DLD) has announced the launch of the latest instalment of its charity campaign, ?Why Do You Keep It??; an annual initiative designed to encourage people to donate personal possessions they no longer need. The government agency?s yearly drive involves workers in Dubai government departments as well as the general public, with all 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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Dubai Land Department’s unified contracts from May 1

In line with its stated aim to create a transparent and professional real estate market with clear and measurable standards, Dubai Land Department ( DLD ) has announced the launch of unified real estate contracts. The new agreements have been designed to regulate the relationship between the parties involved in property transactions and to avoid Read More …

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Dubai index breaches 5,000 in almost 6 years

A sharply positive investor sentiment continued on the Dubai bourse on Tuesday morning as the Dubai Financial Market General Index crossed the 5,000-point mark within first hour of opening, led by real estate stocks. The index, which was closed at 4,984 on Monday, jumped 44 points to 5,028 at 10.55am, led by DFM, Deyaar, Emaar, Read More …

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GCC’s building sector needs 500,000 more workers

The Workforce Planning Study, commissioned by Dubai International Academic City and carried out by Deloitte, states that building and construction project management skills are lacking among top-level management, according to 43% of respontents, while 54% of firms say design engineering skills are lacking among mid-level staff. Poor knowledge of?health & safety is also prevalent among Read More …

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Dubai?s trade licences up 13%

Business activities in Dubai remained in upward direction as the Department of Economic Development (DED) witnessed a 13 per cent increase in licences issued in March 2014 compared to the same month of 2013. Last month, the department had issued 1,834 trade licences compared to 1,623 licences in the same month last year, showing increasing Read More …

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Business Cycle Index 2013 revealed strong performance of sectors with expectations of high growth rates

The economic performance in the Emirate of Abu Dhabi improved significantly in 2013, driven particularly by the growth and development of real estate, tourism and trade sectors, amid expectations of continued stimulants of growth, backed by decision makers in the Government of Abu Dhabi. The results of the business cycle index for the Emirate of Read More …

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Dubai office, residential rentals surge over 20%

There is a large pipeline of new office supply in Dubai, but the majority of this space will be negatively impacted by its strata ownership title where different investors own one or more floors in a building, making it harder for renters to find large spaces with a single owner. According to CBRE, during 2014 Read More …

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Dubai?s hospitality sector outdoes regional growth

The market has rapidly absorbed the influx of new hotel room supply and continued to perform exceptionally well, showing a jump in average room rates from $308 in January 2013 to $337 January 2014, resulting in an increase in revenue per available room, or RevPAR, of 6.2 per cent over the same period, said Yousef Read More …

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Expo 2020 impact will spread beyond UAE borders

The hosting of Expo 2020 in Dubai will reshape the way business is being done in the UAE and the region and the spillover of the event will positively impact the Gulf Cooperation Council (GCC) and wider Middle East, North Africa and South Asia region (Menasa), according to experts from global professional services firm Deloitte. Read More …

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DFM, ADX Index rise

The DFM General Index went up 0.90 per cent on Wednesday to end at 4,728.38, while the Abu Dhabi Securities Index rose 0.45 per cent to end at 5,108.75. Mohammad Al Hammadi, an economic research and independent investor, said the rise in both markets marks a balance given that there has been a drop over Read More …

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Dubai real estate deals total $16.6bn in Q1

Dubai Land Department (DLD) has announced that the real estate transactions recorded in the emirate during the first quarter of this year exceeded AED61 billion ($16.6 billion), up 38 percent over the same period last year. DLD’s report revealed that a total of 15,694 real estate deals were completed in the three months to March Read More …

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?Dubai?s attraction as investment hotspot was never greater?

Fortress Investments, a leading investment firm operating in the Middle East, says FDI investment in the UAE reached $12 billion (Dh44bn) in 2013 and is projected to grow 20 per cent in 2014 to reach $14.4bn (Dh53bn). The estimated growth rate in 2014 would represent a 260 per cent increase over 2008, which not only Read More …

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