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Tag Archives: real estate

Uzbekistan has set road towards its ambitious goals

After Shavkat Mirziyoyev came to the post of the President the number of beautiful and landscaped areas in Uzbekistan are increasing as a result of measures aimed at radically renewing the image of cities and villages, improving social conditions. I personally witnessed these creativities during my trip to this country …

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Housing loans made available by UAE government

Upon the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Abu Dhabi Executive Council, has ordered to disburse the second instalment …

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Mollak electronic system launched by Dubai Land Department

The Dubai Land Department, DLD, through its regulatory arm Real Estate Regulatory Authority, RERA, launched a first-of-its-kind electronic system titled “Mollak” that incorporates innovations to ensure that justice and transparency are maintained. The DLD prioritises customer satisfaction and happiness, in line with national strategies, and developed this system to help …

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DLD signs MoU with Al-Masraf bank

The Dubai Land Department, DLD, represented by its regulatory arm, the Real Estate Regulatory Agency, RERA, signed a memorandum of understanding, MoU, with the Arab Bank for Investment and Foreign Trade, Al Masraf, to manage and service the Owners Association, OA, accounts. The MoU was signed by Marwan bin Ghalita, …

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Dubai launches Real Estate Investment Opportunities

The Dubai Land Department, DLD, announced the launch of the Real Estate Investment Opportunities, REIOs, initiative during a press conference held yesterday. The newly-launched project was adopted as a catalyst for Dubai’s real estate sector based on the outcomes of the Innovation Lab 2018. A law is currently being drafted …

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Abu Dhabi selling real estate to Indian investors

An Indian real estate consultant Anarock announced on Monday that it has partnered with Aldar Properties to sell housing and commercial assets located in Abu Dhabi to Indian investors, Press Trust of India, PTI, reported on Monday. Aldar Properties PJSC is Abu Dhabi’s leading property development, management and investment company. …

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Emaar signs deal with Beijing New Aeropolis Holdings

At a ceremony held at the China National International Convention Centre, Dubai-based global developer Emaar on Thursday signed a memorandum of understanding, MoU, with Beijing New Aeropolis Holdings,BNA, to jointly develop a Business and Tourism Complex, integrating retail, entertainment, office, hotel hospitality, convention, sport, art and lifestyle functions in a …

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Ras Al Khaimah’s island strategy is paying off

Other developers would be welcome to come up with their own projects at Hayat Island in Ras Al Khaimah, a 6 million square feet destination in the making. But they can’t be just any other project, according to the master-developer of Hayat Island, RAK Properties. “Their concepts will need to …

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Luxury property owners get back the courage to sell

After a two year gap, more property owners in Dubai are willing to take on developers and whatever incentive or offplan payment plan they come up with. This is being reflected in the gradual increase in property listings made by individual owners, and especially those with high-end homes on their …

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Indian sells island in Dubai for Dh80 million

Investors are spoilt for choice when it comes to buying real estate in Dubai. In recent years, developers have lured buyers into owning extravagant and one-of-a-kind homes, such as an underwater villa or a multi-million-dirham penthouse in the world’s tallest tower. Now, it’s even possible to buy your own private …

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Fresh hope for Dubai Lagoon investors

“We want our money back,” investors in a Dubai Investment Park (DIP) realty project that never took off had told XPRESS in October 2012, with the inordinate delay since its 2005 launch draining them financially and emotionally. Today, 13 years on, they are still making the same appeal — but …

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Landlords in Dubai keep sweetening rental offers

Thinking of buying or renting a home right now in Dubai? Based on 2018 second-quarter transaction data, the answer will not be an easy one for residents to make. Another 3,200 homes were delivered in the second quarter on top of the estimated 3,800 units completed in the first three …

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UAE’s non-oil private sector growth spikes

The UAE’s non-oil private sector output and new orders in June rose at their fastest pace this year, indicating a strong improvement in the overall health of the economy, according to the Emirates NBD Purchasing Managers’ Index (PMI). The PMI for June rose to a 2018 high of 57.1, up …

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SCA to investigate Abraaj for local investor impact

The UAE’s Securities and Commodities Authority (SCA) is investigating whether any local investors are affected due to the current financial problems being faced by the private equity firm Abraaj, according to a top executive. Dubai-based Abraaj is currently facing allegations that investment funds were misused, specially that it commingled about …

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Dubai’s new Mortgage Law can be the right stimulus

Dubai’s proposed “Mortgage Law” intends to create greater depth in the property marketplace, in particular by making it easier for specialised funds to come in and take up exposures. Another target of the law would be create “alternative financing methods” over and above what is offered via direct bank finance. …

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Aldar launches Dh10b mixed-use development

Aldar Properties on Monday announced the launch of a new Dh10 billion Al Ghadeer mixed-use master plan close to the border of Abu Dhabi and Dubai in Seih Al Sdeirah. The project consists of 14,408 units including 449 villas, 2,174 town houses and 11,785 maisonettes which will be delivered over …

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On-site sale: Hottest units at Cityscape Abu Dhabi

Cityscape Abu Dhabi kicked off on Tuesday with propertydevelopers showcasing a number of projects that are in different stages of completion. Aldar Properties is showcasing its Dh10 billion Al Ghadeer mixed use master plan close to Abu Dhabi, Dubai border. — Gulf News     The figures for on-site sales, allowed at …

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Sharjah realty boom is taking off

In Sharjah, there is no such thing as difficult market conditions when it comes to selling property. Freehold and long-term leasehold sales have been on the up all through 2017 and developers are just as willing now to keep the supply pipeline humming with new launches. “Since September 2017, there …

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Dubai private sector maintained strong growth in February

The Dubai Economy Tracker Index (DET) for February signalled a further strong improvement in business conditions across Dubai’s non-oil private sector. Although the headline index eased slightly from 56 in January to 55.8 in February, it still indicated a strong expansion in the non-oil private sector. “The PMI survey data …

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Now, Sharjah’s Dh25b Waterfront City sets sail

Sharjah’s Dh25 billion Waterfront City is starting to show up on the development radar. Just under two years after its announcement, infrastructure works on the 60 million square foot mixed-use destination in Hamriyah have reached key milestones. Work on a Dh220 million substation that will provide 700 megawatts (MW) of …

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China’s wealth becomes X factor in Dubai realty

The China effect on Dubai’s real estate market is only going to get bigger. High networth Chinese buyers are looking at a selection of projects from Dubai’s leading developers to see what sort of exposures they can commit to. Over the last weekend, the Beijing-headquartered wealth management firm Letou Group …

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Dubai’s off-plan sales take a November dip

After a blockbuster run between July to end October, off-plan property sales in Dubai for November has taken a dip, with just over 1,523 units sold. That compares with more than 2,000 off-plan units in July and August and 1,800 plus for September and October, according to the latest data …

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Shaikh Mohammad approves bylaws of VAT

His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has approved the executive regulations of Federal Law No.8 of 2017 on Value Added Tax (VAT). The bylaws govern the implementation of VAT, which will come into effect from January 2018. …

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Ask PW: Real estate disputes

We bought an off-plan property three years ago. Recently we got to see the show villa and discovered that there were changes made to the floor plan without our consent. There are a few other differences between what is promised in the brochure and on the website against what is …

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Dubai Property Show heads to Mumbai

Dubai Land Department is taking its Dubai Property Show to Mumbai for the third year running. Indian citizens have long been the largest non-GCC buyers of Dubai property, the Land Department said in a press statement. Land Department Director General Sultan Butti Bin Mejren said, “Indians have long since understood …

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