News
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Dubai’s Property Sector Poised for Growth in 2014
The prime property sector in Dubai is gearing up for a strong 2014 following a vibrant 2013 – according to ratings agency Fitch. In a statement issued on Wednesday, Fitch said despite the positive trend, uncertainty remained a concern for the real estate sector in general as several factors and events evolve. These include the Middle East instability over Syria attack fears, Dubai’s bid for World Expo 2020 and major [...]
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Dubai Reports Growth in Visitor Numbers
Arabian Falcon holidays a marketing company based in Dubai representing Royal Club Palm Jumeriah, a product owned by the Pervaiz Naviede Family Trust, has welcomed news that the city is experiencing tremendous growth in visitor numbers. According to reports from STR Global, which analyses hotel demand across the world, the city’s hospitality sector witnessed an increase in supply of almost 6% and demand of 30%. STR Global also said hotels [...]
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Name That Tower!
A competition has been launched in Dubai to name what, when built, will be the tallest commercial building in the world. The company behind the project, the Dubai Multi Commodities Centre, said they would much rather hear from the world community than have to “pay a hefty amount to a consultant”. Executive Chairman, Ahmed Bin Sulayem, said “I’d be more interested in hearing what the real community has to say” [...]
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Dubai Real Estate Shows Significant Gains
A recent spike in real estate values in Dubai is bringing back echoes of the Emirate’s property-market crash four years ago. The International Monetary Fund has estimated the residential market is up 16% in the 12 months to April with the real estate consultancy CBRE painting an even frothier picture, saying in a recent report that rents went up by more than 30% in a year. The reported commenced that [...]
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Dubai Creek Harbour: A new “city” in Dubai
One of the main roads through the United Arab Emirates – the E44 or ‘Ras Al Khor Road’ – is receiving a makeover with a new boulevard taking shape not far from Dubai’s mangrove forest at the head of its iconic creek. New signage being installed this month identifies the project as “Dubai Creek Harbour”. Newly-planted date palms line both sides of the road and cranes, trucks and earth-movers, conspicuously [...]
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Healthy Living is Worth its Weight in Gold
Dubai’s leaders have hit on an unusual way to encourage residents to lose weight: they are running a scheme for the next 30 days where participants can win a gram of gold for every kilogram of weight they lose. Obesity is an increasing concern for Dubai’s two million inhabitants with the United Arab Emirates (UAE) currently ranked the fifth fattest nation in the world. It’s estimated that collectively the population [...]
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Confidence Returns to Dubai Real Estate Market
Dubai’s leading real estate developers are placing a huge weight in the delivery of projects, following a spate of high profile announcements. With a resurgence in property prices over the past 18 months, a host of projects have been brought to the Dubai market as confidence increases. Whilst buyers are returning in big numbers, more stringent and protective legislation has been introduced to provide reassurance and confidence to those investing [...]
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Raft of Dubai Developments Announced
A tourist attraction boasting miniature recreations of iconic world landmarks including the Empire State Building, the Great Wall of China and even the Burj Khalifa is set to open in Dubai as part of the Emirate’s Expo 2020 strategy. Mini World Park, which was approved by Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum this week, will also feature odes to Niagara Falls, Mount Rushmore, the Colosseum and many other [...]
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Dubai Records Significant Growth
A recent report has revealed that Dubai’s real economic growth during the last quarter of 2012 increased to 5.3% compared to the same quarter in the previous year. This rise has been attributed to growth in two of Dubai’s key sectors, construction and manufacturing, in addition to transport and storage, wholesale and retail trade, real estate and the financial sector, which altogether contributed to about 90% of Dubai’s gross domestic [...]
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Construction Boom Returns to Dubai
Dubai’s leading real estate developers are placing a huge weight in the delivery of projects, following a spate of high profile announcements. With a resurgence in property prices over the past 18 months, a host of projects have been brought to the Dubai market as demand drives a second phase of development. Buyers are returning to the market in big numbers following the introduction of more stringent legislation to provide [...]