A total of 150 real estate projects worth Dhs82bn ($22.3bn) were registered in Dubai in 2017, the Dubai Land Department (DLD) has confirmed. In a statement, DLD also said that 90 projects were completed last year. Sultan Butti bin Mejren, director general …
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Dubai Real Estate Slump to Continue for Another Two Years: Report
The downturn impacting the Dubai property market is expected to continue for at least another two years, according to ratings agency S&P. In a report, the company said prices and rents had declined the 5-10 per cent it expected last year and were likely to …
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Revealed: the best areas to invest in property in Abu Dhabi
Return on investment (ROI) in Abu Dhabi’s real estate market is expected to remain steady this year despite the trend of declining rents, according to new research. Bayut.com, the UAE’s data-driven property portal, said the UAE capital’s property …
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S&P: Dubai’s real estate slump to last until 2020
Dubai real estate prices could decline by 10 to 15 percent over the next two years, hit by new supply, geopolitical risks and the introduction of value added-tax in the United Arab Emirates, S&P Global Ratings’ analysts said on Tuesday. The grim …
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Dubai property slump to continue: S&P
A three-year downturn in Dubai’s property market will likely continue until at least 2020, Standard & Poor’s said Tuesday, citing low oil prices, the introduction of VAT and a Gulf diplomatic crisis. A glut of housing units and weak demand were also key …
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What oil price reverse means for Dubai property
As we close the books on Q4 of 2017 and reflect on the most recent quarter, it’s clear that major political events to the west, and OPEC oil controls limiting production, have put pressure on and spooked the UAE market. Why is it the market continued to …
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S&P Global Ratings: Dubai property will continue decline to 2020
S&P Global Ratings expects a continued decline in Dubai’s residential real estate prices and rentals to 2020. Dubai residential property prices and rents declined by 5%-10% in 2017, with the global ratings company expecting this trend to continue in the …
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Dubai’s real estate slump to last until 2020 – S&P
The grim prediction came after Dubai residential prices fell by 5 to 10 percent in 2017, and the weak property market has also begun to hurt earnings of the emirate’s top property developers. “We believe this correction will continue at least for this …
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Abu Dhabi Municipality tests video for building permit process
Abu Dhabi City Municipality has launched a trial to test video … consultant offices, developers and property owners. The system is intended to allow review of layouts, discussions, reviews and approvals of all phases of the application process, and …
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Dubai luxury property oversupply will prevent rapid rebound, says Phidar
Property prices in Dubai will take longer to rebound, as oversupply in the luxury market continues, according to Phidar Advisory managing director Jesse Downs. While the minor oversupply of 5-10 percent in the Dubai property market is “manageable and …
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Emaar Properties records upsurge in Dubai property sales by 25% to AED 18.03 billion (US$ 4.91 billion) in FY 2017
* Shopping malls, hospitality and leisure and entertainment businesses account for 34% of revenue at AED 6.351 billion (US$ 1.729 billion) * Successful listing of Emaar Development PJSC on Dubai Financial Market (DFM) by selling 20% of shareholding though …
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Aldar Properties offplan sales hit $952m in 2017
Aldar Properties, a leading real estate developer in Abu Dhabi, UAE, said it has delivered a robust performance across its two business pillars in 2017. Announcing the results for the full-year 2017, Aldar stated that its underlying gross profit had surged …
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Abu Dhabi developer Aldar reports 28.5% fall in 2017 net profit
DUBAI: Abu Dhabi developer Aldar on Wednesday reported a 28.5 percent fall in its annual net profit for 2017, impacted by a 3 percent value adjustment to its asset management portfolio as well as weaker property prices. Net profit attributable to …
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UAE property market has slowed due to maturity
The UAE’s property market will continue to see an average softening of prices and rental rates in 2018, though experts believe this will bring the Emirates more in line with global norms. With investors become more willing to accept lower yields, and …
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Dubai property market ‘continues to show growth’, says Damac’s Sajwani
Dubai’s property market continues to show signs of growth with increasing demand returning to the market, according to Damac Properties chairman. The luxury developer reported a net profit of $762 million in its yearly profits announced earlier today (a …
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Emaar’s Dubai property sales jump 25% to Dh18 billion
(MENAFN – Khaleej Times) Dubai – Emaar Properties 2017 net profit jumped to Dh5.7 billion as against Dh5.23 billion in the previous year, an increase of nearly nine per cent. It recorded a net operating profit of Dh5.704 billion ($1.553 billion) during …
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Abu Dhabi’s Aldar Properties Q4 profit tumbles
Aldar Properties, the state-linked builder of Abu Dhabi’s Formula One circuit, reported an 80 per cent fall in fourth-quarter profit due to a one-time charge, its chief financial officer said on Thursday. Aldar made a net profit attributable to owners of …
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