UAE Residential prices edge up in December 2013
Property prices in Dubai and Abu Dhabi housing markets increased 2.64%, 2% respectively in Dec 2013
Dubai Mall records 75m visitors in 2013
The Dubai Mall received over 75 million visitors last year, driving a sales boost of 26 percent. Over 40 percent of the visitors to the mall were tourists with a majority of the overseas visitors coming from Saudi Arabia and other GCC countries, China, India, Russia and Europe.
Commercial Reality on upswing
Capital values and rents of commercial properties in the UAE are set to increase in the coming 12 months, according to Royal Institution of Chartered Surveyors (RICS) Global Commercial Property Market Monitor.
Expo 2020 work to start full swing in Q3 2015
Dubai plans to submit the master plan for World Expo 2020 to the Paris-based organizing body by the third quarter (Q3) of 2015, following which construction for the global event will kick off in full swing.
Dubai Among world’s 20 most dynamic cities
Dubai has made it to the list of 20 most dynamic cities in the world that demonstrate the combination of strong short term socio-economic and commercial real estate momentum and longer term foundations for success.
Tecom sells land to Majid Al Futtaim
Tecom sold 1 million sq ft of land at its International Media Production Zone (IMPZ), a development that spreads across 43 million sq ft.
Final phase of DIP to be completed in first quarter
Dubai Investments Park (DIP), the largest integrated commercial, industrial and residential community in the Middle East and wholly-owned subsidiary of Dubai Investments, on Tuesday announced that Phase 8 — the final phase of the 2,400 hectare mixed-use development — will be fully completed by the end of the first quarter of 2014.
Work starts on MBR City’s District One
Sheikh Mohammed Bin Rashid, the ruler of Dubai, has unveiled commemorative plaque of the Mohammed Bin Rashid City development, marking commencement of work on the development's District One. The mixed-use, leisure and sports development, which spans more than 54 million sq ft of freehold land, is located adjacent to Meydan City and four kilometres away from Burj Khalifa, the world’s tallest structure. Around 65% of the project’s land area will be made up of parks and waterways. The Dhs30bn project, which will comprise 1,500 luxury villas, leisure and retail attraction points, is developed jointly by Meydan Group and India's Sobha Group.
Which nationalities doubled investment in Dubai Property
Indian, British and Pakistani nationals more than doubled their investment in Dubai’s real estate market in 2013 compared to 2012, topping the list of 140 expatriate property buyers.
Dubai hotels excel in profit levels in the region in 2013
Hotels in Dubai reported the highest profit levels in the region in 2013 for the fourth consecutive year, and ended the year with occupancy above 80 per cent as rates surged, according to the latest HotStats survey of full service four and five star hotels in five Mena markets by TRI Hospitality Consulting Middle East.
Qatar Tops per capita investment in Dubai Reality
Qatar has the highest per capita investment in Dubai real estate in 2013 of Dh6.71 million, according to a report by Dubai Land Department (DLD).
Emaar launches MBR City project
Mulberry at Park Heights, the first residential apartment complex in Dubai Hills Estate, the city of the future developed by a joint venture of Meraas Holding and Emaar Properties in Mohammed bin Rashid City (MBR City), has been launched for sale.
Dubai Ranks fourth on prime global cities index
Dubai ranked fourth on Knight Frank’s Prime Global Cities Index as the city’s luxury residential markets recorded a price growth of 17% in 2013.