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22 May 2019
Occupancy rates were at 79%, while ARR increased by 15% compared to Q1 2018 Number of visitors from the US rose by 13.8% in the same period Al Ain recorded a 19.8% rise in guest numbers in Q1 2019 New data released by the Department of Culture and Tourism Abu Dhabi (DCTAD) showed that total hotel revenues in the capital […]
21 May 2019
Abu Dhabi-based developer reports increase in revenue to AED 1.7 billion Net profit down 26% compared to Q1 2018 Approximately 80% of all development units launched were sold Aldar Properties, the Abu Dhabi-based developer behind mega projects such as the Formula One race circuit on Yas Island, reported positive Q1 earnings in Q1 2019. Boosted by strong demand and sales […]
20 May 2019
Dubai Asset Management enters partnership with HiGuests to take advantage of favourable market conditions Report reveals holiday homes account for 2% of total households in Dubai Growth in sector estimated for Expo and post-Expo periods until 2025 HiGuests, a Dubai-based start-up specialising in managing short-term property rentals has partnered with one of the city’s most prominent property managers. Dubai Asset […]
16 May 2019
One of the key developments over the past year has been the increasing diversity of asset types available for investment in real estate in the northern emirates. Previously, areas like Sharjah, Ras Al Khaimah and Ajman offered limited options for freehold properties open to all nationalities, while some were open to GCC freehold – UAE and other GCC country nationals. […]
16 May 2019
The Emirates NBD Dubai Economy Tracker Index registered a score of 57.9 for Dubai Travel and tourism, and construction jobs declined in April Score of 70.8 for wholesale and retail indicate strong growth in new businesses Dubai’s wholesale and retail sector had the fastest rate of growth in the past four years according to the latest data from the Emirates […]
15 May 2019
House price declined 1.5% month-on-month Average house price now under AED 2.5 million Prices in certain communities declined by more than 14% Property Monitor, the UAE’s leading real estate intelligence platform from Cavendish Maxwell, has released its Dubai House Price Index for April 2019. The index has been tracking the prices of a selection of apartments and villas/townhouses since September […]
15 May 2019
Residential construction had the largest market share in the industry, followed by energy and utilities construction Government initiatives helping to boost industry overall CAGR of 4.6% expected between 2019 and 2023 Dublin-based Research and Market’s latest “Construction in the UAE – key trends and opportunities in 2023” report suggests that the UAE’s construction industry will see renewed growth and thrive […]
14 May 2019
Property Monitor shows improved off-plan sales figures in 2019 Long-term payment plans attracting new types of investors Volume of sales declined by 3.3% between 2018 and 2019 Despite prices falling year-on-year, Dubai’s residential property market continued to show improved off-plan transaction sales in April 2019. This comes on the back of more international buyers and investors entering the market and […]
13 May 2019
Over the past decade, the real estate sector in Oman has undergone considerable change. With the execution, completion and planned rollout of additional key infrastructure projects, the sultanate’s diversification efforts to move away from its reliance on a hydrocarbon-driven economy has been remarkable. These positive changes have steadily transformed the property market by connecting the capital to the country’s many […]
13 May 2019
New government initiatives, stimulus expected to accelerate with higher oil prices IMF predicts growth to exceed 2% in 2019, approach 3% in 2020-21 Strengthening SMEs and encouraging more FDI top priorities The International Monetary Fund (IMF) recently concluded a mission to the UAE, releasing its findings on the state of the UAE economy. According to research, the IMF suggested that […]
12 May 2019
Package of new projects includes a Sky Garden, bicycle lanes and promenades at Sheikh Zayed Road, Umm Suqeim and Jumeirah Beach New bicycle share programme to be developed with Careem Plans also account for current roadwork expansion projects across Dubai, and construction of new internal roads in residential areas His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and […]
9 May 2019
The new fund will aid the substantial portfolio of tourism-related projects expected to be delivered over the coming years Ministry of Tourism (MoT) working with other ministries to activate new fund this year Current tourism tax levied on tourist-related activities stands at 4%, of which MoT receives 60% The Implementation Support & Follow-up Unit (ISFU), set up by the Diwan […]
