After years of rampant growth and short-term speculation, it appears the authorities are going to take measures to discourage this continued growth and are looking into ways to slow things down
The prices of building materials are expected to rise by approximately five per cent during the third quarter of 2008 due to record oil prices, rising freight overheads and soaring demand.
A report released yesterday said Dubai Real Estate is witnessing a seasonal slowing in price appreciation.
The residential property investment market recorded a 1.6 per cent month-over-month gain in June, which indicates a slower price appreciation compared to the four point four percent in April and three point five per cent recorded in May. The report came from Al Mal Capital’s “Real Estate Monthly Report” for June.
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Dubai (UAE) real estate developer Sweet Homes has awarded a six hundred million dollar contract to Sweet Homes General Contracting for the construction of its flagship project – Ajman Uptown
SHGC is a new division of the Sweet Homes Group (SHG) launched during the groundbreaking ceremony to commemorate the start of construction work on the Dh3 billion township in Ajman.
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New regulations covering off-plan sales of real estate are to be issued soon to prevent developers from charging registration fees
The Dubai Lands Department said the rules would set out clear mechanisms and procedures – and officials hope they will reduce the number of disputes between developers and buyers.
The Gulf property market still has attractive opportunities for investors seeking to escape a global fall in property investment transactions according to a leading real estate consultancy
Robin Williamson, managing director of DTZ’s Middle East operations, said although the worst of the first phase of the sub-prime crisis appears to have passed, the credit crunch has further to go and will continue well into 2009, particularly across the European and US property markets.
More on Dubai is Still an Attractive Investment Market and News of Another Super-Tower in Dubai
Between now and 2015, Dubai will witness nearly 15 square miles added to its urban area from a single development. Dubai World Central
In an effort to attract investors from Asia to the region, property investors will get a preview of all major Dubai real estate offerings with the largest of them – DWC is a 55 square mile US$ 33 billion urban land project – and is currently being offered at the Asian International Investment & Property Show (AIPS) taking place from 25-27 June in Seoul, South Korea.
Dubai is to introduce a set of short-term visas for foreign investors in the real estate sector. Be warned. Developers and agents selling property with the guarantee of a residence visa should be avoided. It is not a given that those who buy a property in Dubai will get a residence visa.
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