AED 722 million community is spread over 422,370 sq m Includes 306 infrastructure enabled land plots ranging between 600 to 1,400 sq m Project work expected to begin in Q1 2020 with handovers scheduled for mid-2022 Aldar Properties has launched its first residential community, Saadiyat Reserve, in the heart of Saadiyat Island, Abu Dhabi. The AED 722 million community is […]
Committee to be headed by Sheikh Mohammed’s son and deputy, Maktoum bin Mohammed New panel to aim to avoid duplication of projects and ensure they add value to the economy Dubai’s ruler has announced the creation of a new panel to achieve balance between demand and supply in the emirate’s real estate sector. In an announcement on Twitter, Sheikh Mohammed […]
Minimum size requirements for bedrooms, kitchens, dining areas and majlis seating to be lowered Landowners will no longer have to construct a hallway in new homes Maximum height required for side fences reduced from six to four metres In a bid to lower construction costs for landowners, the Department of Urban Planning and Municipalities (DPM) has issued a legislation regulating […]
August 30, 2019 Home prices are lower than five years ago, but hope remains that the capital growth will return in the long term Affluent buyers will find it easiest to cut a deal for a slice of suburban life in one Dubai’s exclusive villa enclaves—where homes are trading for a fraction of what they were five years ago. Frenzied […]
Despite still low volumes, more secondary market deals show value gainsDubai: Dubai’s property market is throwing up all sorts of numbers and trends, even some that are seemingly at odds with one another. Aditi Hariharan, Senior Consultant at the property services firm Cavendish Maxwell, offers up two as examples. “While the volume of secondary market transfers for villas/town houses between […]
India was the biggest source market during the period with 997,000 visitors, followed by Saudi Arabia with 755,000 travellers. Room inventory across 714 establishments in Dubai increased 6% to reach 118,345 at the end of June whilst average occupancy stood at 76%.
Arabtec Holding released its results for the quarter ending June, displaying a 47% decline in net profit to AED 26 million. It attributed the fall to a decline in the awards of new contracts in the construction sector in the first half of the year coupled with the completion of legacy projects in 2019.
The seasonally adjusted IHS Markit Dubai Economy Tracker Index fell from 58.4 in June to 55.2 in July. Readings above 50 signal growth in economic activity. Expectations for business activity over the next 12 months were high at the start of H2 2019, with the respective index registering the third-highest numbers on record.
Emaar Properties recorded sales for the first half of 2019 at AED 9.4 billion, up 52% from the same period in 2018, and one of the highest reported by the company in Dubai. However, net profits during the same period declined to AED 3.1 billion from AED 3.2 billion in H1 2018 on the back of higher costs.
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