We regularly publish curated articles from other publications in and outside the UAE. We focus on the industry news, real estate market and rent behavior.
This Article was originally published on The National on December 22nd 2014
Nakheel aims to become the biggest shopping centre operator in Dubai with a retail portfolio three times bigger than The Dubai Mall.
It will seek bids next month for its Deira Islands Mall which could cost about Dh1.7 billion to build with about 2.8 million square feet in shop space. The developer has also teamed up with an international resort operator to help manage the vast project.
The Deira Islands Mall is expected to take about three years to build, and the development will include about 300 serviced apartments and 600 hotel rooms.
This article was published on Bloomberg on December 17th 2014
The emirate’s economy is expected to grow 4.5% next year from an estimated 4 percent in 2014, the Department of Economic Development said in a presentation yesterday. Real estate and construction may expand about 6 percent each. Preliminary forecasts for 2014 show the property sector will grow 3.5%.
This article was originally published on Gulf News on December 23rd 2014
Dubai: For the rich seeking better than average returns on assets, Dubai’s upscale residential market still has got what it takes. According to the latest Knight Frank survey on cities with the highest rental gains in the 12 months to September last, Dubai was comfortably placed at the top with a 12.4 per cent increase, and ahead of second-placed Tokyo which had a 9.8 per cent gain.
“As against the 3 or 3.5 per cent on a premium residential investment in New York or London, and 4 per cent in Singapore, Dubai’s rental yields remain locked at 7-8 per cent,” said Hussain Sajwani, Chairman of Damac Group.
This article was originally published on MEED.com on December 18th 2014
As falling oil prices, plunging stock markets and a cooling real estate market grips Dubai at the end of 2014, the emirate’s economy is far more robust than the one that collided with the global financial crisis in 2008.
This article was published on The Telegraph (UK) on December 21st 2014
British investors are piling back into Dubai’s property market in search of a bargain despite experts warning that it is beginning to cool.
British nationals were the second most significant property investor behind the Indians, who upped their levels of investment by 31% to £1.75bn, and just ahead of Pakistani buyers who spent 50% more at £750m.
Real Estate News In Dubai and the UAE (December 21st - 27)
We will regularly publish curated articles from other publications in and outside the UAE. We will focus on industry news and real estate market.