Category: Blogs

Emaar project clinches Dh1 billion worth of sales

Emaar project clinches Dh1 billion worth of sales All 375 residences in twin-tower project sold out at launch Emaar Development has recorded total sales worth approximately Dh1 billion at the launch of the first residences in Emaar Beachfront, following a good response from UAE-based and international investors. Emaar Development’s launch of Beach Vista, a twin-tower […]

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Note to serious property sellers: Keep it real

Note to serious property sellers: Keep it real Homeowners must put up realistic asking prices to compete with developers’ off-plan units  Property sellers in Dubai are having a relatively tough time finding buyers for their units since they are competing with overgenerous developers who are luring customers with affordable prices, extended payment plans, DLD fee […]

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Brokers no longer allowed to sign rental contracts

Brokers no longer allowed to sign rental contracts Dubai: Brokers legally appointed to manage property of landlords based abroad are no longer allowed to sign unified lease contracts to get an Ejari, leaving some tenants in the lurch, Gulf News has learnt. The Dubai Land Department (DLD) in March launched the unified lease contract for rental properties in […]

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When off-plan sales dominated Dubai property

When off-plan sales dominated Dubai property With 2018 just a month away, it’s time to do a recap of the year gone by. Off-plan sales and generous payment plans by developers were the dominant themes in the Dubai property market. The popularity of off-plan sales, however, came at a price, with the secondary market taking […]

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VAT in UAE: Key facts on real estate

VAT in UAE: Key facts on real estate The UAE will start implementing a value added tax (VAT) rate of five per cent from January 1 2018, and businesses in the first phase can start now registering on the website of the Federal Tax Authority (FTA). As the real estate sector affects most expat lives in […]

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Law amended to protect property buyers, developers

Law amended to protect property buyers, developers Law amended to protect property buyers, developers. It specifies procedures that will be applied in cases of breaches of sale contracts by the buyer. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has issued a new law partially […]

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Emaar looks to raise Dh5.5 billion from unit IPO

Emaar looks to raise Dh5.5 billion from unit IPO Emaar Properties aims to raise up to Dh5.5 billion ($1.5 billion) by selling 20 per cent, or 800 million shares, in Emaar Development through an initial public offering (IPO). The company announced a price range between Dh5.70 and Dh6.90 per share, valuing the company’s market cap […]

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Why you should bet on serviced apartments in Dubai

Why you should bet on serviced apartments in Dubai Serviced apartments are usually occupied by business travellers, relocating families and leisure GCC families in Dubai. Serviced/hotel apartments have traditionally been more expensive to buy compared to standard residential units in Dubai. They also offer higher yields to investors, especially if managed by an internationally branded […]

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Facing property handover delays? What are your legal options?

Facing property handover delays? What are your legal options? Frustration in handover of projects marketed off-plan and investor options in instances of substantial delay are by no means extraordinary grievances laid against developers in Dubai. Arguably, delay in handover in such cases is a foregone conclusion with imagined completion dates approaching and subsequently expiring without […]

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