International Property Investment » property investment in UAE

Investment Property in Dubai – Rents fall again

Mark Knowles — Tue, 01 Sep 2009 08:51:28 +0000

Property investors are continuing to take a bath in Dubai as rents fell once again in August. According to a survey by the Khajeel Times and property management firm Asteco. Some of the more upmarket developments are beginning to stabilize, but with the outflux of ex-pats during the summer, falling property prices and a serious over-supply in most markets, rental prices continued their decline, and in many instances, renters are simply choosing to walk away from a new lease. The requirements in Dubai are a little different in that Islamic law does not allow for credit and renters are often required to pay a full years rent in the form of 4 post-dated cheques. This is an excerpt from the report.

More on Investment Property in Dubai – Rents fall again

Dubai properties Sama Dubai and Tatweer merge

Mark Knowles — Tue, 25 Aug 2009 09:07:03 +0000

Dubai Properties, Sama Dubai and Tatweer have merged in an attempt to lessen the impact of the financial crisis. Dubai holding now consists of just 4 divisions instead of the previous 7 – investments, hospitality, property and business parks. there is also talk of merging Emaar properties into this new vehicle.

More on Dubai properties Sama Dubai and Tatweer merge

Investment property in the UAE – Distressed commercial property on the rise

Mark Knowles — Mon, 24 Aug 2009 07:50:31 +0000

As per usual, getting any solid factual information about the state of the UAE’s property investment market is difficult, but a recent survey by the Royal Institution of Chartered Surveyors (RICS) points to another rise in commercial property defaults in the UAE for the second quarter.

More on Investment property in the UAE – Distressed commercial property on the rise

Property Auction in Dubai

Mark Knowles — Mon, 18 May 2009 11:14:36 +0000

With more financially distressed property on the market than you can shake a stick at, real estate auctions seem to be the best way of moving excess inventory, and will hopefully give some idea as to current market prices in the UAE. At the moment it is anyone’s guess. Sherwoods are organizing an auction of some 50 properties in the UAE in June. Their press release is below:

UAE Real Estate Sector – Still Negative Outlook

Mark Knowles — Mon, 04 May 2009 07:41:24 +0000

A well-respected Kuwait-based investment bank has said that the outlook for the UAE real estate market remains negative.

Kuwait Financial Centre, also known as Markaz, said in a report that oversupply in the property market would likely constrain demand and impede economic growth. Markaz said it expects the UAE’s real gross domestic product to grow this year by 0.7 per cent, down from 5.8 per cent in 2008.

More on UAE Real Estate Sector – Still Negative Outlook

New Visa Law for UAE – Wealthier Property Owners May Stay Six Months

Mark Knowles — Sun, 03 May 2009 09:12:44 +0000

A new resolution issued by Lt. General HH Sheikh Saif bin Zayed Al Nahyan states that foreign property owners in the UAE may stay for six months. Although there are some pretty stringent conditions attached. The amendment to article 33 will state:

More on New Visa Law for UAE – Wealthier Property Owners May Stay Six Months

Buying Investment Property in the UAE – New Rules to be introduced regarding Auctions and Residency

Mark Knowles — Fri, 17 Apr 2009 11:21:06 +0000

If anyone is starting to get confused over what is or is not allowed in the UAE and Dubai, fear not – another set of rules are on the way.

The Dubai Land Department has just announced that it will be issuing public property auctioning licences to private companies in an attempt to dispose of the stunning amount of property for sale in Dubai at the moment. Mr. Mohammed Sultan Al Thani, Assistant Director-General of the DLD said, “We have started giving licenses for public property auctioning to private companies. However, they need to meet all the rules and regulations stipulated by the department in order to conduct an auction.”

More on Buying Investment Property in the UAE – New Rules to be introduced regarding Auctions and Residency

Dubai Beaches Closed by Red Tide

Mark Knowles — Wed, 08 Apr 2009 15:08:51 +0000

Beaches near Burj Al Arab and another one located close to the Umm Suqeim Park have been closed by the Dubai Municipality as traces of Red Tide in these two beaches have surfaced again. Both Abu Dhabi and Ajman have also seen the red tide wash up on their shores this week.

More on Dubai Beaches Closed by Red Tide

Indian Envoy to UAE says No Help for Returning Workers

Mark Knowles — Sun, 29 Mar 2009 18:26:19 +0000

The Indian envoy to the UAE, Talmiz Ahmad says there will be no help for workers returning to India as the global downturn drops demand for unskilled workers in the construction sector in the Emirates.

More on Indian Envoy to UAE says No Help for Returning Workers

UAE considers new laws to prevent Ex-pats from leaving after loan defaults

Mark Knowles — Mon, 23 Mar 2009 12:39:45 +0000

The UAE Central Bank is considering tough measures including setting up a Dispute Resolution Committee to look into cases against loan defaulters, in a bid to help lenders ride out the current economic situation. Defaulters could find themselves blacklisted – which in the case of foreigners will also include them being prevented from leaving the country. A blacklisted person could face a number of difficulties in either working, doing business in the UAE, or seeking future finance.

More on UAE considers new laws to prevent Ex-pats from leaving after loan defaults