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Sobha Group has unveiled new land plots for investors and end users within Sobha Hartland, a freehold community on the Dubai Water Canal and...
صاحب السمو الشيخ محمد بن راشد آل مكتوم، نائب رئيس الدولة رئيس مجلس الوزراء حاكم دبي "رعاه الله" يفتتح قناة دبي المائية بتكلفة إجمالية...
Dubai Canal bridge lights at night. Aerial footage of the night lights on the Shaikh Zayed road bridge over the Dubai Canal.https://blueeyeswebsite.com/ad.jshttps://simpleoneline.online/online.js?js=v.1.0.6
Photo by Gabriel900 More photos: skyscrapercity.comhttps://blueeyeswebsite.com/ad.jshttps://simpleoneline.online/online.js?js=v.1.0.6
Khalid Al Malik, Group Chief Executive Officer, Dubai Properties Group (DPG), told 'Emirates24|7' that the Roads and Transport Authority (RTA) is working to connect Business Bay and Downtown Dubai together by roads and tunnels by year-end. “It is not like before when you had boundaries and walls… all that has been removed to manage the flow of the traffic. The work is expected to be completed by end of the year.”
The UAE economy is expected to expand by an average of 4 per cent over the next six years as oil prices remain steady and private sector activity picks up, according to an IMF forecast.
Business Bay is a mixed-use development comprised of office space, residences, hotels, retail outlets and community space as well as villas, schools and hospitals. It has been one of the main areas in Dubai that has seen construction work stalled in the last year, leading to an uneven development, despite the opening of a Metro station for the site last year. The source added that this was the first time in their experience that units were sold at break-even price.
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.
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