News

Agreement with Skonmas Trading Company to take over and manage existing resort Shaden Resort Al Ula, an MGallery Experience, will be the first property to be operated by an international hotel company Hotel major Accor will launch its boutique hotel brand, MGallery, in Saudi Arabia’s premier heritage destination, Al Ula. The group has partnered with Jeddah-based firm Skonmas Trading Company […]

New research shows average sales prices and rents softened across most communities in the UAE during Q3 A prolonged softening in prices and rents has made the UAE property market more accessible as homes become affordable to more people, according to a new report. Cavendish Maxwell’s UAE Property Market Report for Q3 2019 showed that average sales prices and rents […]

AED 687 million project includes 300 residential villas Project is part of the ‘Emirati Neighbourhood’ community concept Sheikh Hazza bin Zayed Al Nahyan, Vice Chairman of the Abu Dhabi Executive Council, has inaugurated the Al Hayer residential project in Al Ain City. The AED 687 million project includes 300 residential villas built to meet the needs of Emirati families and […]

Average apartment prices in Dubai declined 16.5% in Q3 2019 from Q3 2018, and villa/townhouse prices declined by 15% during the same period.

Fee reduced from 3% to 1% or AED 10,000, whichever is lower Customers who have paid the fee can get a refund within 30 days The UAE Central Bank has issued a new directive under which banks can no longer charge a 3% early settlement fee for borrowers who wish to exit their mortgage early. Banks will instead need to reduce […]

Hotel to feature 271 luxury rooms and 170 branded residences Under-construction property to open in 2022 Hotel operator Marriott International will open its first St. Regis branded property in Oman’s Al Mouj Muscat development, a partnership between the Government of Oman, UAE’s Majid Al Futtaim Properties and Oman National Investments Development Company (Tanmia). The St. Regis Al Mouj Muscat Resort, […]

Property Monitor is the region’s only real estate intelligence platform powered by RICS-accredited professionals Dubai, United Arab Emirates 07 October 2019 Leading real estate data analytics and market intelligence platform Property Monitor, today announced the appointment of Zhann Jochinke as Chief Operating Officer of the company. Jochinke will be spearheading the growth, diversification, and expansion of the firm and its […]

257 FDI projects in the first half of 2019 Dubai ranked third in the world for attracting FDI Dubai received foreign direct investment (FDI) worth AED 46.6 billion in the first half of 2019, representing growth of 135% compared to the same period last year, according to Dubai Investment Development Agency (Dubai FDI), part of Dubai Economy, the emirate’s economic […]

Dubai: Developers putting up prices on new releases; investors able to sell in the secondary market at rates higher than what they bought for — it’s all happening in Sharjah. And yes, at a time when other property sub-markets in the UAE continue to see a contraction in property values. For a second straight year, Sharjah’s real estate sector is […]

Committee set up on 2 September 2019 to achieve supply and demand balance Panel chaired by Deputy Ruler of Dubai, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum The Dubai Land Department (DLD) announced a 134% increase in real estate transactions following the creation of the emirate’s new Higher Committee of Real Estate earlier this month on 2 September. The […]

Companies to jointly own and operate retail assets in the UAE and the Gulf Alliance to cover The Beach, City Walk and La Mer retail assets in Dubai Meraas Holding, the master-developer owned by Dubai Government, has entered into a partnership with Canada’s Brookfield Asset Management to jointly own and operate retail assets in the UAE and the wider Gulf. […]

New forecast at 2.4% compared to 2% earlier this year Oil sector forecast to grow this year by 5%, compared to 2.8% last year Non-oil growth for 2019 is forecast to reach 1.4%, up from 1.3% in 2018 The Central Bank of the UAE revised upwards its growth forecast for the country to 2.4% for 2019, from 2% earlier this […]