Real Estate & Other News in United Arab Emirates from Propertyshowrooms.com

Dubai real estate 'held back by global problems'

Wed, 26 Oct 2011 00:00:00 GMT

Economic issues in the eurozone will stall a recovery in Dubai's property sector, a new survey has found.

In a poll conducted by Reuters, respondents predicted a 37 per cent chance that the emirate's real estate market will recover in 2012, rising to 70 per cent the following year.

Meanwhile, those questioned predicted that, on average, property prices in Dubai will drop by a further ten per cent before any improvement is noted.

The majority of respondents also stated that the eurozone debt crisis will further slow a recovery in the Middle Eastern region.

Speaking to the news provider, Harshit Oza, from Beltone Financial, commented: "Although we have witnessed better volumes and a slight increase in prices at few property transactions, the overall sector is still facing oversupply and lack of volumes/investor interest."

The most recent figures from REIDIN.com, published earlier this month, recorded a 1.48 per cent rise in property prices in Dubai during September, compared to August.

According to the organisation's findings, capital values among villas increased at a faster pace than for apartments.

Rera And Property Firm's Rates Vary By 11%

Thu, 22 Jan 2009 00:00:00 GMT

The rents detailed in the Real Estate Regulatory Agency's (Rera) residential index vary an average 11 per cent from current numbers compiled by a property services firm, a comparative study by Emirates Business has revealed...

Lindsay Lohan buys Dubai property

Wed, 7 Jan 2009 00:00:00 GMT

Lindsay Lohan has bought a luxury home in Dubai. Lohan is not the only celebrity to have bought property in Dubai recently; footballer David Beckham and his wife Victoria have also invested in the emirate.

Lohan was spotted house hunting on Dubai's Palm Island development, according to The Daily Mirror. The actress and singer was said to be taken with a £1.5m property that she looked at with girlfriend Sam Ronson.

A source told the paper: "Lindsay and Sam loved the tacky glitziness of Dubai. There is so much money and opulence out there that it really impressed Lindsay - she can be quite materialistic like that. Despite her fair skin, Lindsay loves the beach and sunshine.

"And with the property market over there probably the only place where there still seems to be a boom, she thinks it will be a wise investment. There isn't as much paparazzi either, although that's sure to change once Lindsay and Sam become regulars on the scene."

Writing on her MySpace blog, Lohan recently denied rumours that she and Ronson had split up following a series of well publicised arguments. Some sources reported that Lohan was planning on moving in with her sister in a property in Los Angeles, claims contactmusic.com.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.

UAE: Lack of reliable data creating confusion among property buyers

Wed, 12 Nov 2008 00:00:00 GMT

A lack of transparency and reliable data about the UAE's real estate sector is creating "confusion and panic", says a leading industry figure...

Dubai's population still growing

Wed, 27 Aug 2008 00:00:00 GMT

Demand for property in Dubai is likely to remain high as its population is continuing to grow, a local market expert has claimed.

Anyone who has purchased investment property in Dubai in recent years is likely to have seen a healthy return, as an influx of foreign workers has helped to create strong demand for rental accommodation.

Some commentators have predicted that rents and capital values cannot continue to grow at the rates seen in the past few years, but Oliver Hickey of the Profile estate agency disagrees.

Official figures show that 25,000 people are moving to Dubai every month and Mr Hickey told Property Wire that the trend is having a positive impact for investors.

"Its long-term investment possibilities are superb with few other world destinations coming even close to Dubai," he added.

Meanwhile, Dubai's Real Estate Regulatory Authority is reported to be planning to introduce new regulations to streamline the buying and selling process in the emirate.

Visit our off-plan property United Arab Emirates page.

Dubai Corporate Probes Grow

Wed, 20 Aug 2008 00:00:00 GMT

Dubai widened its probe of top corporate executives in what appears to be an effort by the government to repair the emirate's reputation...

UAE largest Arab destination for foreign capital

Wed, 6 Aug 2008 00:00:00 GMT

The UAE attracted more than $35billion (Dh129bn) in foreign direct investment between 1997 and 2006 to become the largest Arab destination for foreign capital, according to official data. The UAE has also emerged as the second largest Arab capital exporter, with its direct investment outflow...

Amlak, RERA to Launch Region's First Escrow Awareness Campaign

Wed, 6 Aug 2008 00:00:00 GMT

The Real Estate Regulatory Authority (RERA) has expanded its cultural program targeting home buyers and investors from the real estate industry through a MoU with Amlak Finance PJSC, the largest real estate financier in the Middle East...

Dubai's Skyscrapers Prices on the Rise

Wed, 6 Aug 2008 00:00:00 GMT

(Arabic) Fuel and cement high prices boosted construction prices in UAE...

Dubai residents get affordable home insurance plan

Mon, 4 Aug 2008 00:00:00 GMT

Dubai's tenants and homeowners won't have to shell out large sums for safety and security as one could insure a home for as low as Dh190 for Dh50,000 coverage...

Exotic holiday destinations enhance a persons image-020808

Sat, 2 Aug 2008 00:00:00 GMT

Many British consumers are booking trips to exotic destinations overseas because they believe it will improve their public image.

According to private bank Cater Allen, 46 per cent of holidaymakers from the UK think the place they visit reflects on them as a person.

This was said to account for why destinations favoured by celebrities are proving to be particularly popular with leisure travellers.

The United Arab Emirates was flagged up as one major hotspot for those who want to follow in the footsteps of well-known people.

Brazil and the south of France were also identified as very popular locations, even though they can cost more than other holiday destinations.

However, many British people were found to be very willing to splash out on expensive trips abroad, particularly those in south-east England.

Earlier this week, the United Arab Emirates was highlighted as one of the best destinations for expatriates to live.

According to research by HSBC, the country offers a number of suitable attractions for foreign nationals, such as good living standards and high salaries.

Visit our off-plan property United Arab Emirates page

Al Ain landlords demanding high rents after border restrictions

Tue, 22 Jul 2008 00:00:00 GMT

The border restrictions, which lasted only five days, had a serious impact on Al Ain residents. Landlords and real estate agents have been openly violating the law by demanding exorbitant rents...

UAE: Drake & Scull gets Dh124b

Tue, 22 Jul 2008 00:00:00 GMT

Dubai construction and engineering firm Drake & Scull International attracted Dh124 billion from 45,600 investors in its initial public offering that was oversubscribed 101 times, the company said in a statement yesterday...

Dubai popular with British tourists

Thu, 17 Jul 2008 00:00:00 GMT

Dubai has made it into a list of the year's top ten holiday hotspots for the very first time.

Cheapflights.co.uk compiled the list in order to see which destinations were attracting the most holidaymakers from the UK.

Spain was said to be especially popular by the price comparison site, which found that many people booked trips to places such as Alicante, Malaga and Tenerife.

However, Dubai's growing popularity led to it being included in the top ten for the first time, achieving a ranking of number six.

This places it ahead of many far more established locations, including resorts in Turkey and Portugal.

The increasing popularity of the emirate could potentially enhance its appeal with overseas property buyers, among whom it has recently become a hotspot of activity.

Dubai was recently recommended to investors by Shelter Offshore, which said people could be able to cash in on its "tourist-based potential".

Emaar Properties H1 2008 Net Profit Of AED3.315B

Thu, 17 Jul 2008 00:00:00 GMT

Emaar Properties PJSC recorded first-half 2008 net profits of AED 3.315 billion (US$ 0.902 billion), a marginal growth over half-year 2007 net profits of AED 3.279 billion (US$ 0.893 billion)...

Dubai Maritime City Authority establishes EIMA

Mon, 14 Jul 2008 00:00:00 GMT

Dubai Maritime City Authority, the world's first purpose-built maritime centre and a member of the Dubai World Group of companies, has announced the establishment of Emirates International Maritime Academy...

Saadiyat Ocean course shapes up 'naturally'

Mon, 14 Jul 2008 00:00:00 GMT

The 18-hole Saadiyat Beach Golf Course in Abu Dhabi is shaping up to make a powerful environmental statement with the master designer, golfing legend Gary Player, dubbing it "a golf course and a nature sanctuary."

Opening of world's biggest shopping mall sign of continued growth in Dubai

Thu, 10 Jul 2008 00:00:00 GMT

The world's biggest shopping mall opens in Dubai next month amid predictions that it will create new investment in the high growth retail sector...

Dubai 'becomes retirement hotspot'

Tue, 24 Jun 2008 00:00:00 GMT

Dubai is increasingly becoming a popular location among older Britons who want to retire abroad, it has been revealed.

Gulf Weekly said that while the emirate has not cornered the retirement market in the same way as France and Spain, it is emerging as an attractive choice for many.

The publication highlighted a number of reasons for this trend, such as the fact that expats of all age groups are choosing to stay in Dubai for longer.

This means that many people already have family members living in the area and want to be close to them.

Gulf Weekly commented: "As the emirate continues to thrive, its expat community is also flourishing."

The media outlet added that foreign arrivals are also just beginning to find out about the quality of life Dubai has to offer.

This comes after FinancialAdvice.co.uk said more and more expats from the UK are moving to long-haul destinations.

Expats look abroad for cheaper cost of living

Thu, 3 Apr 2008 00:00:00 GMT

The high cost of living in the UK is creating widespread disillusionment among many Britons, to the point where many are considering emigrating, a newspaper has said.

A report in the Telegraph stated that many British people are thinking of packing up and leaving for another country.

This was largely attributed to the current state of the UK economy, which has led to increases in the prices of groceries, fuel and other necessary expenses.

People were also said to feel unhappy with their rising tax burden, with council tax in particular flagged up as a particularly unpopular charge.

Therefore, many are looking to overseas property as a way of avoiding these payments and reducing their outgoings.

The Telegraph commented; "It's hardly surprising many British homeowners are seriously thinking of selling up and moving overseas."

Earlier this week, a poll of expatriates by NatWest revealed that the vast majority believe they are financially better off now that they live abroad.

According to the organisation, the average person in the UK earns £47,000 a year, whereas a typical salary in the United Arab Emirates can be as high as £79,000.

Expats earn more in Dubai

Fri, 28 Mar 2008 00:00:00 GMT

British expatriates who get a job in Dubai could stand to earn high salaries, new figures have revealed.

NatWest International Personal Banking revealed that the average person in the UK earns £47,000 a year.

However, a typical salary in the United Arab Emirates can be as high as £79,000, a figure the firm described as "whopping".

Meanwhile, a poll of expatriates in the country found that most people do not believe the overall cost of living is very different from the UK.

This suggests that many are able to take advantage of higher levels of disposable income during their new lives overseas.

David Isley, head of NatWest International Personal Banking, remarked: "The wage packets of expats are very encouraging for people who are looking to move abroad."

He added that most expatriates feel financially better off now that they do not live in the UK.

This comes after research by Alliance & Leicester identified the main reasons for Britons opting to move abroad.

The weather was found to be a key motivation for 40 per cent of expats, while one in five people said they left because they were worried about rising crime in the UK.

Silverjet launches Dubai flights

Tue, 20 Nov 2007 00:00:00 GMT

Luxury airline Silverjet has begun offering daily flights from the UK to Dubai.

The new service has been described as a landmark for aviation in the United Arab Emirates, as it is the first time a premium carrier has departed from Dubai Airport's Executive Terminal.

Commenting on the new service, Katherine Gershon of Silverjet said: "The long-awaited London launch has officially arrived and Dubai couldn't be more excited."

She added that transport links to Dubai had reached a "whole new level", as passengers would be able to enjoy a variety of personalised and luxurious services.

Although the new service is being targeted towards a niche market, it still represents a further improvement to the accessibility of the region.

According to the Dubai Property Exhibition, the city attracted more than 250,000 new residents, making it the fastest growing conurbation in the world.