Dubai Land Department (DLD) reported a total of 1,982 real estate and properties transactions with a gross value of Dhs7.7 billion during the week ending 24th June 2021.According to the DLD weekly report, 98 plots were sold for Dhs685.29 million, 1,336 apartments and villas were sold for Dhs2.59 billion.Al Hebiah Third recorded the most transactions for this week by 16 sales transactions worth Dhs45.14...
The UAE is the leading country in the region for the highest concentration of sustainable buildings, with 869-green rated buildings and standing in 14th position globally.The US stands on the top of the world league table with about 81,000 green buildings and at the city level, London ranks first with 3,000 environmentally accredited buildings, as per real estate firm Knight Frank.The organization’s...
The UAE has become more affordable for expatriates in 2021 as cost of living in the country’s top two cities Dubai and Abu Dhabi dropped significantly, according to Mercer’s latest report released on Tuesday.Dubai’s ranking in the list of the world’s most expensive cities improved from 23rd to 42nd, while Abu Dhabi moved 17 places from 39th to 56th. The major reason for increased affordability is...
DAMAC, the Dubai developer behind some of the emirate’s glitziest property projects, has hired advisers following a $599m plan to take the company private.The company founded by tycoon Hussein Sajwani said on Sunday it has appointed an independent valuer and financial adviser to help determine the fairness of the offer from the perspective of shareholders, the company said in a filing to the Dubai...
Property investors in Dubai will no longer have to go to a developer's office and apply for a no objection certificate (NOC) to sell their property.IInstead, they can now obtain NOC electronically with a click of a button.The Dubai Land Department (DLD) authorities have announced that investors looking to sell their property can apply for an NOC through its Dubai REST mobile application (app), as part of...
Dubai’s resilient real estate sector continued to witness a steady surge in investments by recording 5,359 deals worth over Dh11 billion in May.While 11,387 new investors entered the market comprising 66 per cent of total registered investors since the beginning of the year, 6,021 real estate transactions worth Dh21.8 billion were registered in May, an increase of 197 per cent and a surge in value of 221...
Saudi Arabia’s Shoura Council has called on the Real Estate General Authority to coordinate with the relevant authorities to study its proposal allowing non-resident foreign individuals to own real estate in Saudi Arabia amid specific controls, local media has reported.The Shoura Council also called on the authority on Wednesday to ensure transparent governance for the entities it established, such as...
Property, banking and financial sector shares offer support to benchmark indices in Abu Dhabi and Dubai markets.The UAE markets on Monday staged a strong rebounded amid optimism about quick economic recovery and bullish oil prices.Dubai’s main share index rose 0.9 per cent to 2,868.02 points due to strong gains in property, banking and financial sector shares. Blue-chip developer Emaar Properties rose...
According to GlobalData, Dubai's construction sector is showing early signs of a long-awaited recovery in 2021. Government-controlled real estate developers are planning new projects in response to rising property prices buoyed by the emirate's recovery from the economic impact of the COVID-19 pandemic.Colin Foreman, Deputy Editor at GlobalData's MEED says, "Companies such as Nakheel, Emaar and Meydan are...
Dubai Land Department (DLD) recorded a total of 2,069 real estate and properties transactions with a gross value of 10.7 billion during the week ending 10 June 2021.According to the DLD weekly report, 219 plots were sold for AED 1.46 billion, 1,418 apartments and villas were sold for AED 2.81 billion.The top three transactions were a land in Palm Jumeirah sold for AED 330 million, followed by a land that...