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.
Tamweel Properties & Investments LLC to focus on property investment and brokerage services
Move in line with resolutions approved at recent EGM
Abdulla Nasser Abdulla named CEO of Tamweel Properties & Investments LLC
Real estate sources are claiming that the recently-introduced two-year freeze on rents in Qatar has prompted some landlords to unreasonably raise the rentals for new tenants.
The rent law has been effective in curbing rent rise in general, but several landlords are fleecing new tenants to compensate their losses and attempting to cash in on the continuing shortage of residential and commercial properties in the local 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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Shaikh Saud bin Rashid Al Mualla, Crown Prince of Umm Al Quwain, yesterday issued an order, banning renting out of residential buildings and warehouses as labour accommodations, especially in areas occupied by families. In case the landlords fail to comply with the order, fines will be levied on them.
Despite many’s worries over the astounding number of new developments in Dubai(including our own), Deyaar, showing an impressive level of investor confidence, has managed to sell out their latest offering on the opening day of the launch – a $123 million tower- Oakwood Residency.
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Is it just me, or does there seem an inexhaustible supply of new property developments coming out of Dubai? This is the latest in a long line – Sheikh Mohammad Bin Rashid Gardens, the Dh200 billion venture of Dubai Properties, which aims to be the lowest-density development in the region. Situated between Al Khail Road and Emirates Road on 880 million square feet, about 73 per cent of the development will be green and open spaces and 10 per cent will be allocated to waterways.
RAKAA Properties, one of the region’s preeminent real estate companies, has announced the selling of 70% of the Dynasty Tower and 55% of Falcon Crest Tower, two of the company’s signature projects situated in the prestigious Al Reem Island, Abu Dhabi.
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According to the UN: 50 percent of the world’s population resides in urban cities, growing to two-thirds in 25 years; by 2015, 23 ‘mega cities’ will exist with nineteen of them located in developing countries
More on CTBUH 8TH World Congress Highlights Dubai as a Model of Sustainable Urban Future
Triveni Builders and Promoters Ltd (TBPL), a Dubai-based developer wholly owned company by the Triveni Trading Group, last week announced that 60% of its $27 million, La Fontana di Trevi apartments project in Dubai – launched just weeks ago – has been sold. Positioned as a mid income family development, La Fontana is a six storey low rise building located in the Arjan Master community in Dubai Land.
