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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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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First-Time Buyers In The Dark
The majority of young people are unaware of help available to buy their first home according to research by BBC Radio 1. Three quarters of those polled aged 18-29 said they had no or limited knowledge of shared ownership schemes which are designed to help would-be house buyers get on the property ladder. Under the scheme the buyer takes out a mortgage on part of the property and pays a [...]
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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 [...]
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House prices up again in June
Figures released today by the Nationwide have shown a 0.3% increase in house prices with the average property now costing almost £169,000. The report also revealed house prices over the last 12 months had increased by just under 2%, the fastest rate of growth for almost three years. The lender attributed the rise to easier access to mortgages thanks in part to the Government’s Funding for Lending scheme which is [...]
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VIP tourist programme comes to Dubai
Plans have been unveiled by authorities in Dubai to introduce a ‘privilege’ program for tourists visiting the emirate. It is believed reward points would be offered on all purchases which can be redeemed for various benefits. According to a source at Dubai’s Department of Tourism and Commerce Marketing (DTCM) every visitor landing at Dubai airport will be automatically enrolled in the privilege program and will receive a smart card that, when [...]
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Mortgage competition welcome news for consumers
Housebuyers could save up to £600 a year on their mortgage repayments with the prediction that a raft of new lenders will shortly enter the market. According to a recent article in The Telegraph, a raft of new entrants to the mortgage market such as NBNK and Home & Savings Bank will provide increased competition, in turn, reducing interest rates to less than 1.5%. The drivers behind the new entrants [...]
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Dubai becomes top seven travel hotspot
Royal Club – the fractional ownership brand operating on Dubai’s Palm Jumeriah – owned by Pervaiz Naviede Family Trust company Caryatid Properties Ltd has welcomed the news from a report by Matercard, which shows that Dubai is on track to become seventh in the list of the world’s top destination cities this year. According to MasterCard’s latest Global Destination Cities Index released earlier this week, Dubai is set to draw [...]