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The initiative is designed to increase transparency, streamline real estate transaction processes, reduce transaction time, and facilitate strategic partnerships between public and private sectors.

Most of the property deals took place in Sharjah City, with 1,704 sales transactions in 91 areas, out of 1,893 sales deals. The most popular areas were Muwaileh Commercial Area, followed by Al Khan and Al Nahda.

Average apartment prices in Dubai declined 15.1% in Q2 2019 from Q2 2018, and villa/townhouse prices declined by 14.7%. Rental declines for apartments in Dubai averaged 12.5% and rents for villas/townhouses similarly fell 12.6% in Q2 2019 from a year ago.

The average house price in June was AED 2.46 million, with apartment and villa prices marginally declining month-on-month to AED 1.67 million and AED 4.35 million, respectively.

Al Reem Island proved to be the most sought-after location by investors, recording transactions worth AED 4.37 billion. It was followed by Al Reef with deals worth around AED 1.8 billion, and Yas Island with around AED 1.6 billion worth of transactions.

The G+24-floor building will include 403 one-to four-bedroom apartments and feature Sobha’s designed noise-cancelling façades. The handover of units is scheduled for April 2023.

Products include collective real estate investment funds, partial title deed procedures to register units owned by multiple partners, a lease-to-own system and investment portfolio applications. Dubai Land Department (DLD) also approved a special office to facilitate and unify all registration and follow-up procedures for this project DLD has announced the launch of the Real Estate Investment Opportunities (REIOs) initiative to attract a […]

New curbs on oil production to continue until March 2020 OPEC and its allies currently lowering production by 1.2 million barrels per day Members of the Organization of the Petroleum Exporting Countries (OPEC) have agreed to extend their oil production cuts to support oil prices against a backdrop of weakening global demand and increasing US shale oil production. The 14-member group, […]

12,949 mortgage contracts worth SAR 5,653 billion signed in May KSA aims to increase local home ownership rates to 70% by 2030 Residential loans awarded in the Kingdom of Saudi Arabia (KSA) jumped 212% in May 2019, compared to the same period a year ago, official data showed. According to data from Saudi Arabian Monetary Authority (SAMA), 12,949 mortgage contracts […]

Plant features 3.2 million solar panels and is installed across an 8 sq km site Plant’s capacity sufficient to cover the demands of 90,000 people Project to reduce Abu Dhabi’s CO2 emissions by 1 million metric tons The Emirates Water and Electricity Company (EWEC) announced that Noor Abu Dhabi, the world’s largest single solar project with a capacity of 1,177MW, has started […]