The prevailing high prices in Dubai’s real estate sector are not sustainable for long and a slowdown is likely, a top asset management company chief executive said this week
“Prices are bound to stop growing at this maddening scale,” said Shehab Gargash, chief executive officer (CEO) of Daman Investments, on the sidelines of a press conference to announce investment in renewable energy venture. “Will it be a crash? I don’t think so. I doubt we will see a significant long-term bust. But we will see corrections.”
Australian’s traditional houses were made of corrugated iron, roof and sometimes even walls, in the absence of wood, with big veranda all around. The veranda started off purely practical – a tin house turns into an oven very quickly in Australia’s heat.
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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Strong growth backed by huge pent-up demand, a growing population and liberalization of the real estate sector is expected to keep prices strong in Abu Dhabi for the next 5-7 years – according to a report by EFG-Hermes, a regional investment bank
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It would appear that the UAE is beginning to face similar problems to much of the rest of the world as far as lack of available finance goes, but for different reasons. New companies and mid-size developers in the UAE are apparently finding it difficult to obtain finance for their projects as banks are on the brink of reaching the legal 20 per cent cap on funding to real estate.
Chennai is the most preferred place for corporate and Multinational Companies due to its expert manpower and outstanding business environment. The upsurge in sectors like the IT and the BPO industry of Chennai has played a vital role in the modification of the commercial real estate market, thus setting it up for the growing demands of the business market.
New Real Estate Development Company Plans to Attract US$600 Million from International Investors by December
Property House, an ambitious US$1 billion real estate and property management company, was launched today by Muhammad Nazir, a leading businessman with diverse investment interests in the UAE, Pakistan and Turkey.
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The present real estate situation in Chennai is characterized by skyrocketing real estate prices. It is estimated that this increase amounted to 8-15 % over the past few years and the situation is likely continue. A number of factors have contributed to this development. The deciding factor that gave rise to this condition is the emerging BPO and ITES companies that are mushrooming all around the famous city. These are causing rental values to go through the roof. An atmosphere favoring rapid industrialization is also playing its part in the promotion of this state of affairs.
