Under the patronage of Vice President and Prime Minister of UAE and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum, the ceremony to honour the winners of the Dubai Government Excellence Program will be held in Dubai on 13th this month.
Dubai-based developer Omniyat Group will announce an AED5 billion ($1.36 billion) project pipeline over 2017-18, including an ultra-luxury hospitality scheme on the new Dubai...
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The Dubai property market is regularly found to be one of the highest performing real estates in the world. Residential assets in the emirate have undergone a staggering price rise over the past few years, with investors regularly seeing capital growth of around 20% per annum.
Our landmark 5-star hotel in Dubai is set to become one of the region's most...
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According to Asteco Property Management 's second half 2012 Dubai report, rents for one- and two-bed apartment in Discovery Gardens jumped 23 per cent on averge year-on-year. One beds are being leased for Dh45,000 per annum (pa), while two-bed are rented for Dh70,000 pa. Similarly, one- and two-bed units in Downtown Dubai, costing Dh80,000 and Dh125,000 pa, respectively, also saw average rentals rising 23 per cent in 2012 over 2011.
Trade Arabia reported that the Roads and Transport Authority of Dubai has opened 5 more station, Business Bay, First Gulf Bank, Sharaf DG, Nakheel and Jumeirah Lakes Towers on the Red Line of the Metro. With this launch, the total number of operating stations has risen to 26 out of total 29. Mr Ramadan Abdullah director of the Rail Operations at the RTA said that we will open rest of the three stations in the first quarter of next year.
With somewhere approaching 80 per cent of its completed office space lying empty, Dubai’s Business Bay area is still struggling to attract the scores of companies it was hoped would be enticed. Just a couple of kilometres down Sheikh Zayed Road, commercial buildings in Dubai’s central business district (CBD) boast vacancy rates of below 15 per cent.
Investors are less likely to try selling their property in Dubai as the gap between asking price and achieved value widened further in the past 12 months. The 10 per cent differential between asking and achieved prices during the fourth quarter of 2009 is now estimated at 15 per cent, according to newly released figures by Jones Lang LaSalle. More so, as fresh stock in locations such as Business Bay is set to hit the market regularly this year.
Business Bay sees high demand from multinational companies, following completion of infrastructure works
Orion Holdings, a leading UAE real estate company, has revealed that multinational companies coming to the UAE look at Business Bay as the preferred destination to set up regional headquarters or UAE offices. This is based on daily enquiries received by Orion Holdings from multinational companies.
The global downturn and increasing supply has also given commercial property tenants across the three emirates firmer territory to renegotiate terms. The report states that while rents remained reasonably stable in Dubai’s Jumeirah Lake Towers, Business Bay and TECOM Area C, all three areas suffer the highest vacancy levels.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister and Vice President of the UAE and Ruler of Dubai, examined the plans for Empower's new district cooling plant in Business Bay during his tour of DEWA's 15th annual Water, Energy, Technology, and Environment Exhibition (WETEX).
Increased supply of apartments and villas in Dubai during 2015 could result in a softening of sales prices and rents, according to a new report by Asteco.
The firm’s BMB Advisors Malaysia Ltd. unit sent a letter on Oct. 11 to Sol Kerzner, founder of Kerzner International, offering to pay $3.4 billion to $4 billion for his Bahamas-based company, according to a copy obtained by Bloomberg News. Kerzner International received the proposal and “the company is not for sale,” said Jennifer Glaisek, a spokeswoman. BMB clients in Malaysia are putting up cash for the bid, Withanage said in a telephone interview from New York.
The O14 development took over four years to build, and is one of the few projects to have been formally launched at the Business Bay development. The 27,870m2, 22-storey commercial tower features a unique 41cm-thick concrete façade perforated by 1,000 circular openings, and against a window wall enclosure.
Dubai Properties has awarded a contract for work on the first phase of its Marasi Business Bay project on Dubai Canal. The company has appointed Finnish company Admares to build 10 "floating" water homes, two...
Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum on Monday launched Dubai Harbour, a new waterfront destination that will feature the MENA region’s largest marina and the Dubai Lighthouse. The mega project will also include...
Dubai-based developer Omniyat Group will announce an AED5 billion ($1.36 billion) project pipeline over 2017-18, including an ultra-luxury hospitality scheme on the new Dubai Water Canal, according to the company’s founder. The new projects will...
The newly-opened Dubai Water Canal project will change how boating is perceived in the UAE, according to the boss of a UAE-based superyacht builder. Erwin Bamps, CEO of Gulf Craft, said Dubai’s latest waterfront development...
Developer Sobha Group has unveiled new land plots for investors within Sobha Hartland, the only fully integrated freehold community on the Dubai Water Canal and in Mohammed Bin Rashid Al Maktoum City. To meet the...