A universal property contract that clearly sets out the terms for both buyers and sellers is to be introduced to Dubai to stop disputes over misleading small print, it was reported on Monday.
 
The standard contract, which will be used for all property sales, has been drawn up by the Dubai Land Department and is waiting for approval, according to Emmad Eldin Farouq, senior legal adv... Read More

Real estate brokers, who made up most of the audience at the UAE''s first property auction, said on Wednesday that the homes under the hammer should have been distressed sales.

None of the four lots made their reserve price at the auction on Tuesday evening in downtown Dubai, with no bidders coming forward for the last two properties - a four bedroom penthouse apartment in Jumeirah Bea... Read More

The first tangible signs of economic recovery in the UAE will be witnessed towards the end of the year and the current positive indicators of recovering markets, high oil prices and reports of a possible bottoming out should be met with caution, say economists and industry leaders.

With local markets on the upswing, oil floating in the high $60s and the real estate market witnessing few... Read More

Joint-venture partners, Nakheel and IFA Hotels and Resorts have started handing over the keys to the residential units at Golden Mile on Palm Jumeirah. Golden Mile is made up of ten buildings with a total of 860 residential units, in addition to the first freehold offices on Palm Jumeirah, as well as an extensive retail area. All residential units are managed by the neighbouring Fairmont Palm ... Read More

More than 80 percent of UAE real estate chief executives expect better returns in the second half of 2009, a new survey has revealed.

The survey of some of the leading real estate developers in Dubai and Abu Dhabi revealed an upbeat mood among CEOS despite the severe impact of the global slowdown on the industry. The poll, conducted by UAE daily Emirates Business, showed none of the dev... Read More

Investors are more positive on the six month outlook for UAE, according to Shuaa Capital's second monthly GCC Investor Sentiment index.

Investor confidence in the UAE inched up 4.4 points to 107 points in May but lagged the overall GCC investor confidence measure which increased 2.7 points to 112 points. The indices have a range between 0 and 200, with a number greater than 100 represen... Read More

Real Estate Regulatory Authority (Rera) is planning to introduce new regulations that will strengthen transparency and boost investor confidence in the coming months, a top official said.

Senior officials at Rera are studying 27 projects that could potentially be cancelled in light of the strained real property market in Dubai. Some projects are simply not feasible and some investors wh... Read More

While the UAE continues to maintain its dominant position in the Middle East and Africa for foreign direct investment (FDI) - accounting for 50 percent of total projects in the region - Dubai has emerged as the destination of choice.

According to a report in London's Financial Times Dubai has, for the first time, been named as the top destination city in the world, surpassing cities suc... Read More

Repercussions of economic gloom notwithstanding, Dubai property prices are all set for a resounding comeback, as rich investors take advantage of the current scenario in the market, new Dubai property developer says.

Oliver Hickey Managing Director of Nexus Development Ltd said: "When markets fall as dramatically as Dubai has in such a short period of time there are always speculators t... Read More

  Emaar Properties will host its popular Community Market Day on March 27 for residents in the Springs, the Meadows and Emirates Hills.

The ''buy and bring sale'' event will be held at the Car Park next to the Meadows Village from 3pm to 6pm and will have entertainment and activities for kids. Community Market Days by Emaar are popular social events that bring together our communit... Read More

Downtown Burj Dubai is offering a visual treat for residents and visitors as testing work of The Dubai Fountain, the world''s tallest performing fountain, progresses towards official unveiling.

Mr Mohamed Alabbar, Chairman, Emaar Properties, said: "The Dubai Fountain is an unparalleled light and music spectacle for the city, and will add to its tourist appeal. Undertaking a project of m... Read More

Dubai's master-developer Nakheel, which is set to take over the operations and management of the luxury liner Queen Elizabeth 2, said on Sunday excited preparations are underway for the arrival of the world's best loved ocean liner.

The ship left Southampton last week on her final voyage and is now en route to her new home here. Nakheel will provide a fitting welcome for this queen of t... Read More

British Prime Minister Gordon Brown arrived in Saudi Arabia on Saturday at the start of a tour of Gulf states to ask for aid for countries hit by economic turmoil.

Brown was met by Saudi Foreign Minister Prince Saud Al Faisal at Riyadh airport. He was later holding dinner and talks with King Abdullah. Brown will spend four days in the oil-rich region holding talks with leaders as he pur... Read More

Propertyfinder.ae, the UAE's leading real-estate website, has released findings revealing Dubai's top locations to rent and buy in 2009.

The findings reveal that both renters and buyers are moving further out of Dubai's traditional residential hubs to areas such as The Springs, Jumeirah Lake Towers and Discovery Gardens, with new communities high on the priority list for both renters a... Read More

Developers behind some of the most luxurious property in Dubai on the iconic Palm Jumeirah say it is still attracting high demand and prices.

Last month, it was warned that prices on the man-made island were falling fast, with some real estate going for 50 per cent less than peak prices. But Poznyakizhilstroy Corporation, which is building the Kempinski Palm Residence and Hotel, said in... Read More

Enquiries for properties in Dubai have picked up markedly in recent weeks, according to a survey of local real estate agents.

Across the board realtors are reporting heightening interest in apartments and villas around the emirate. Properties in Dubai Marina, Jumeirah Beach Residence and The Palm Jumeirah are particularly in demand.

Sales however are still low as sellers dicate p... Read More

Property prices appear to be bottoming out in Dubai, brokers say, citing the increase in transactions in February that they say shows buyers are returning to the market.

Prices have fallen substantially since the end of last year, by as much as 50 per cent in some developments. The cost of flats in Palm Jumeirah have dropped to Dh1,000 a square foot from a high of Dh2,000 a square foot ... Read More

"The Dubai real estate market is full of opportunities and this is a great time to buy as a number of projects are now... Read More