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Dubai Canal Project – Dubai Creek Linked with Arabian Gulf

Dubai Canal Project – Dubai Creek Linked with Arabian Gulf

Latest News, Project Updates
In an attempt to give fresh boost to the tourism and economy, Dubai recently launched its Dubai Canal Project costing AED 3.7 billion. The mega project took almost three years of construction work to complete. Dubai canal project is basically an extension of Dubai creek which has been now linked with Arabian Gulf. On the occasion of Dubai Canal Project launching, Dubai’s Ruler Sheikh Mohammed bin Rashid Al-Makhtoum said “Every achievement and success that we celebrate motivates us to move ahead with confidence, determination and optimism. We are challenging ourselves to generate the best ideas and initiatives.” “Our progressive way of thinking, ambition and positive energy will bring happiness to the people and prosperity to the nation,” Dubai’s ruler added. The newly inaugurated
Dubai Real Estate Affordable Housing Demand & Price on Rise

Dubai Real Estate Affordable Housing Demand & Price on Rise

Latest News, Market Trend and Analysis
Taking a look at the latest sales transactions in Dubai real estate market, the affordable housing communities are seeing better recovery as compared to high-end locations. As compared to Q2, 2016, 10 locations are showing a price appreciation in Q3, 2016. The highest appreciation was observed in International City at 4% on quarter to quarter basis. The increase in motor city stood at 3.4 percent, 3 percent increase was recorded in Dubai Production City (DPC) formerly known as International Media Production Zone (IMPZ) and Downtown Dubai (Burj Khalifa District) witnessed an increase of 2.3 percent on quarter to quarter basis. Many communities in Dubai real estate market went through a decline in sales price and Dubai Sports City (DSC) stood at top position with an average price dro...
More Mortgage Deals in Dubai Real Estate Market

More Mortgage Deals in Dubai Real Estate Market

Latest News, Market Trend and Analysis
In Dubai real estate market, the way transactions have been happening during last four years, the trends have changed a lot. Historically speaking, most of Dubai real estate market transactions would happen on sales. Mortgage transactions would usually account for 25 percent of all the transactions throughout the year. Looking at the market reports and analysis, this situation has completely inverted now and the number mortgage transactions have increased in Dubai real estate market. The increasing sentiment of owning a home in Dubai among the residents could be the major reason for this increased trend in the market. Whereas the investors are also trying to capitalize on mortgage facility by acquiring cash-flow properties in Dubai. In certain housing communities of Dubai, the...
Dubai Real Estate Tycoon Spends US$9 million on #5 License Plate

Dubai Real Estate Tycoon Spends US$9 million on #5 License Plate

Latest News
Mr. Balwinder Sahni who is an Indian business man and a well known developer in Dubai, recently spend AED 33 million or US$9 million to buy No 5 license plate for one his six Rolls Royce. Sahni owns six Rolls Royce cars and according to CNN money, he has ordered two more Rolls Royce. It seems the developer has a lot of love for Rolls Royce and acquiring single digit license plates as well. In 2015, Mr. Sahni spent AED 24.5 million or US$6.7 million to acquire another single digit number plate "9". While giving an interview to CNN money, Mr. Sahni described himself as a simple man however he has been receiving a lot of requests for interviews and photos since he bought the number 5 license plate. UAE has so many such examples in which rich Emirati's have spend millions to acquire...
Dubai Canal The Mega Project of 2016 Near to Completion

Dubai Canal The Mega Project of 2016 Near to Completion

Latest News, Project Updates
November, 2016 will mark the time when Dubai Canal will become operational completely. The work on Dh2 billion project is moving as per schedule. Currently, as a process of testing, the water has been released in Dubai Canal. It is the first time that during last 3 years construction phase, water has been released in the canal. The initial proposed depth of the canal was six meters however it will be one meter less than that. Still, seeing the water in canal finally means that we are very close to seeing the completion of this mega project. As of now, low lever water has been released into Dubai Canal as a part of testing process. The level of water will be increased in next two to three weeks time. Construction work on the Dubai Canal is moving ahead at a good pace. At dif...
Dubai First Investment Option For HNWI GCC Nationals

Dubai First Investment Option For HNWI GCC Nationals

Latest News, Market Trend and Analysis
Gulf individuals with wealth are pouring their investments in Dubai, Sharjah and Abu Dhabi as these destinations remain the hottest property shopping places for these investors. Cluttons, a research organization, held a poll among high net worth individuals in the GCC region and Dubai came out as the top destination for their property investments. 27 percent of GCC investors claimed that they prefer Dubai over all other cities for property investment. Abu Dhabi remains at number two position as 22 percent of the polled high net worth individuals from GCC region consider it their second best option for property investment. 8 percent of investors showed their interest in Sharjah Properties and consider it as one of the best property hot spots in the region. The real estate secto...
Royal Atlantis – The Palm Jumeirah’s upcoming remarkable Venture

Royal Atlantis – The Palm Jumeirah’s upcoming remarkable Venture

Latest News, Project Updates
The Palm Jumeirah, a stunning palm-shaped lavishly constructed island in Dubai, is set to get another landmark. With an estimated budget of $ 1.4 B, Royal Atlantis a 46 Story project will have approx 800 rooms. The project will have 03 Residential towers, retail and beach club development aiming to complete by 2018, that is, in only 24 months time. The master developer of the Palm Jumeirah has confirmed the contract of $1.4 bn for Royal Atlantis resort and residence. Well known Atlantis of The Palm has huge aquarium with thousand of marine animals including sharks. The Atlantis is amongst one of the famous visiting destination in Dubai by tourists and residents. The Royal Atlantis is projected next to Atlantis. Ssangyong Engineering & Construction – South Korea with the Si
RAK Properties : Net profit increased 2.7% to Dh160 million in 2015

RAK Properties : Net profit increased 2.7% to Dh160 million in 2015

Latest News
Net profit at RAK Properties, the developer backed by the Ras Al Khaimah government, increased by 2.7 per cent last year. RAK Properties, With proven excellence in a wide range of projects including mixed-use community developments, strategically placed retail shops, health spas and hotels, RAK Properties Public Joint Stock Company (PJSC) plays a central role in shaping the lifestyle of residents of the United Arab Emirates. Founded in 2005 from the vision of His Highness Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, RAK Properties delivers high-quality and professionally managed projects that provides its customers with the highest level of service, while maximizing the value of their investments. Rak properties listed in Abu Dhabi Securities Exchange, posted a net...
Dubai Holding Reports 25% Rise in Profit Reaching To Dh5.83 Billion In 2015

Dubai Holding Reports 25% Rise in Profit Reaching To Dh5.83 Billion In 2015

Latest News
In a statement issued on Saturday by Dubai Holding Commercial Operations Group, the company announced that its profit for the year 2015 grew by 25 percent reaching to Dh5.83 billion. The revenue of the company, as compared with the review of 2014 went up by 15 percent reaching to Dh14.53 billion from Dh12.63 billion. Mohammad Abdulla Al Gergawi, Chairman of Dubai Holding, said, “Dubai Holding continues to make big strides in its successful strategy aimed at creating an innovation driven knowledge-based economy. This is in line with Dubai’s long-term ambition to transform into the smartest and most productive city in the world.” The business groups of the firm performed very well during the year 2015 that include Jumeirah Group, TECOM Group and Dubai Properties Group. The target
Rents In Dubai To Fall Further In 2016

Rents In Dubai To Fall Further In 2016

Latest News
According to an international property agency Chestertons, amid to the gap between demand and supply ratio, rents are expected to drop further in Dubai during 2016. The firm also emphasized on developers to focus more on affordable projects as compared to luxury ones. A right balance needs to be maintained between demand and supply for a mature and strong market. Since 2011, residents in Dubai have paid a huge sum of money in terms of rentals. The rents have cooled down in last two years and experts are predicting a further cool down in rents by the end of 2016. Due to current downward trend in oil prices in international market, the rentals and property prices in Dubai will definitely go down in value. As per the agency, the correction in price will be in between 15 to 20 percen...