News

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 […]

Restrictions of any kind in terms of locations or choice will harm those chances A view of towers and hotels at Business Bay in Dubai. Short-term rental accommodation, or holiday homes, has been a hot topic of discussion over the past couple of weeks, first because of Emaar Properties’ entry into the space with its short-term rentals platform Ease by […]

Business Bay ranked first in number and value of transactions in 2018 Emiratis made the most investments, worth AED 10 billion, followed by Indians The real estate sector contributed 13.6% to Dubai’s GDP growth in 2018 compared to 6.9% in 2017, whilst the construction sector’s contribution reached 6.4% in 2018 compared to 6.2% in 2017, Dubai Land Department (DLD) said […]