Property Trends

Impairments and margin squeeze hurt first half profits of UAE banks

Dubai: A surge in loan impairments caused by the impact of COVID-19 and an economic slowdown resulting from low oil prices have seen a sharp decline in profits for UAE banks in the first half of 2020....

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S&P downgrades two Dubai property giants to junk status

Emaar Properties and DIFC Investments are cut to BB+ by ratings agency on expectations the economy will shrink in 2020London — S&P Global Ratings has warned that Dubai’s economy is set to shrink 1...

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Dubai developers no longer allowed to collect service charges from property owners

Dubai: Developers in Dubai have only a month left to start invoicing all service charges on ready properties through the Dubai Land Department’s "Mollak” electronic records. In other words, w...

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Dubai property sales hit record volumes as prices fall

Last month set a record for the most Dubai property sales since 2008 with close to 5,000 real estate transactions, according to Dubai Land Department statistics compiled by real estate portal Property...

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DAMAC says pause needed for Dubai real estate recovery

DUBAI (Reuters) - The chairman of DAMAC Properties (DAMAC.DU) said on Thursday property developers should refrain from launching any new residential projects in Dubai for at least a year in order to k...

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Dubai real estate needs real data

“A man is a teller of tales,” wrote Jean Paul Sartre. “He lives surrounded by his stories, and the stories of others; he sees everything that happens to him through them.”The tale of deflation in Duba...

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Dubai DED issues 4,057 new licences in September 2019

Dubai: The Dubai’s Department of Economic Development, DED, issued 4,057 new licences for various professional, commercial, industrial and tourism activities in September 2019.According to the Busines...

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Dubai’s Deyaar reports revenues of Dh483.3 million for nine months of 2019

Dubai: Deyaar Development on Thursday announced its financial results for the nine months ended 30 September, 2019. The company reported revenues of Dh483.3 million, an increase of 3.6 per cent compar...

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Deyaar had Dh661m in provisions for 2018

Staff ReportDubai: Provisions totalling Dh661 million made last year was one of the prime reasons behind Deyaar’s accumulated losses of Dh1.54 billion, the Dubai based developer said in a statement on...

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Dubai’s GDP grew 2.8 per cent to Dh389.4 billion in 2017

The Department of Economic Development (DED) announced the release of the ‘Dubai Economic Report 2018’ on Saturday.The report reviews the major macro- and sectoral level economic developments and grow...

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'If your profits have fallen by nearly 90%, it's difficult to focus,' says Alabbar over Damac claims

Emaar chairman Mohamed Alabbar has hit out over claims from rival developer Damac that the company continues to “dump” properties on the market – and that all new home construction in Dubai should be ...

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Expo 2020 Dubai: Everything you need to know about the site

What exactly is Expo 2020 Dubai? A complete guideSaruq Al Hadid: The fascinating gold ring behind the biggest party on Earth, the Expo 2020 DubaiDubai: Exactly one year from now Dubai will showcase th...

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Expo 2020 construction will completed by the end of the year

Dubai: Exactly one year before the Expo 2020 kicks off in Dubai, construction work on the site is close to completion and infrastructure work is all done, organisers said.At a media briefing on Monday...

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Rents dropping in Sharjah: Residents react to the dip

Drop in rents give Dubai residents more choiceSharjah: Rents have dropped quite a bit in Sharjah this past year and are expected to fall further.Gulf News spoke to tenants living in Sha...

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