‘Real Estate’ Archives
Dubai International Convention and Exhibition Centre visitor numbers up 12%
Dubai International Convention and Exhibition Centre (DICEC) attracted 1.24m visitors in 2009, up 12% on the previous year. The venue is owned by Dubai World Trade Centre, which also owns Airport Expo Dubai. Dubai World Trade Centre board chairman Sheikh Hamdan bin Rashid Al Maktoum, who is deputy ruler of Dubai, said the number of [...]
Dubai to see up to 30m sq ft of new office space – CBRE
Dubai is forecast to see another 20-30 million square foot of office space being added to the already cluttered market in the emirate, according to the head of a Dubai-based real estate consultancy. “The problem is that the delivery schedule by 2012 I think there is another 20 to 30 million square feet of offices coming into the market,” [...]
Tenants in Dubai get more bargaining room
Dubai: Rental markets are continuing to move from an owners' to a tenants' market with tenants enjoying more room to bargain as prices continue to fall. As the supply in the residential sector nears its peak, rentals continued to decline in the second quarter of this year, particularly for luxury and high-end villas and apartments. "Rents [...]
Transactions up, rents down
The number of residential transactions taking place in Dubai increased by almost 50 percent in the second quarter of the year, reports Emirates Business. The paper also says that prices rose by one percent compared to the first quarter of the year. The paper quotes the latest report from Jones Lang Lasalle, “Dubai Real Estate Market [...]
Dubai Real Estate Market Overview – Q2 2010: June 2010’
The Dubai office market continues to fragment with a further decoupling between the overall market (which is experiencing increasing vacancies) and good quality buildings in the CBD (where there remain selective shortages). While average city-wide vacancies have increased further (to around 38%), only 12% of the 7.5 million sq ft of completed [...]
Strata Law to make major inroads into UAE real estate
13th October 2010 is a critical compliance date following the release of the Directions by the Dubai Lands Department that set out regulations allowing for the registration of jointly-owned Property and Owner's Associations, the company, Strata Global, sister company to Better Homes, is poised to take the lead in guiding both commercial and [...]
Dubai real estate transactions increase in first five months
Dubai: The real estate market has experienced a rise in the number of transactions compared to the same time last year, the Dubai Land Department said. In department figures for the first five months of this year, 3,642 land sales were registered, worth a total Dh25 billion. The sales comprised a combined area of 62,815 square feet, the [...]
Candy wins London property battle
Christian Candy has won his High Court battle against Qatari Diar, reports the Financial Times. Candy’s CPC property developer sued the real estate firm over the withdrawal of plans for the now infamous Chelsea barrack in London, claiming breach of contract. CPC claimed that Prince Charles has personally intervened in the project, [...]
Sukuk Gain to Six-Month High on Global Growth: Islamic Finance
June 25 (Bloomberg) -- Islamic bonds are trading at their highest level in more than six months as companies reach agreements with creditors to restructure debt and the global economy recovers. The Dow Jones Citigroup Sukuk Index, which measures the performance of Islamic bonds globally, closed at 120.53 yesterday, the highest since Nov. 30 [...]
Dubai pins its hopes on a return to basics
Dubai's financial centre is to refocus on its core business of attracting financial institutions as the indebted emirate seeks to shrug off past excesses, according to its governor. Ahmad al-Tayer, a former finance minister who has gained influence as Dubai seeks to revive its economy, said the tax-free Dubai International Financial Centre [...]
