Hard Rock and Abu Dhabi Financial Group (ADFG) are making the Hard Rock Hotel using the initial 33 floors of Dubai Marina primer tower system. Whenever accomplished, the 1,399-foot high Marina 101 will end up as the globes highest domestic structure and the 2nd tallest structure in the United Arab Emirates.
Marina 101 will certainly contain the Middle East’s very first Hard Rock Global real estate, a first-class, 281 bedroom Hard Rock Hotel booked to open up in mid-2015. As indicated by a news release, Continue reading
Dubai builder Nakheel reaches a settlement along with Souq Residences, that is a joint endeavor concerning IFA Hotels The contract closes that four-year legal row regarding Nakheel and Souq Residences, that launched by getting a lawsuit submitted by Nakheel against the last mentioned during the Dubai World Tribunal in 2010.
The Dubai-based construtor sued IFA Hotels at the same time, IFA disputed about the contract was cancelled and counter charged Nakheel in the Dubai World Tribunal, starting a long drawn away legal tussle. Continue reading
Just about seventy-five per cent of Dubai residents intend to go rent apartment in Dubai as a result of renting increases, as reported by a survey issued today. The end results of the review, demonstrated that as much as 84 per cent reported rent increase through 2014. It reported nearly 36 percent of emirate’s participants got an increase between one to ten % within their rent bills, and 48 percent of emirate’s inhabitants encountered a rent rise of over 10 per-cent.
Also, the survey indicated that 65 per cent of all respondents propose to move to another place on their further lease renewal. As is going to be anticipated, the percentage would be greater among those groupings who have confronted a larger percentage of rent increase, whereby 75 % of the participants who faced greater than a 10 per cent escalation in rent are planning to move. Continue reading
Alternate market bargains concerning premium Dubai real estate are reduced by a little over 20% in past months. Any person looking to buy property in Dubai may well have reason to take a break – apartment revenue prices in the whole city lowered 1 per-cent all through the third quarter and can even weaken deeper with the current economic three month cycle.
It further suggests the belief that Dubai’s property marketplace is becoming slowly as a purchasers’ one after owners called the majority of the shots since 2012. Continue reading
Opposite to popular notions, Dubai rentals and rents in Abu Dhabi are still trimming up, and they boosted slightly in September 2014 corresponding to data issued by Reidin.
Even as most current records published by research dwellings claim a slow decline in Dubai rentals cost, studies and consumer sentiment may be to negate those statements. According to Reidin, rents in Dubai’s non-commercial market enhanced by 0.8 points, through 103.7 to 104.5, symbolizing a boost of 0.78 per cent in September 2014. On the other side hand, rental prices raised 19.8 per cent year-on-year. Continue reading
A scarcity of affordable Dubai properties is pressing lesser and central income earners in Dubai and causing harm to the city’s fight and potential to lure new residents, a fresh study from the real estate corporation Colliers demonstrates. A general shortage of two-bedroom residential properties charged from Dh32,000 and Dh54,000 would mean that a bulk of Dubai’s town residents confront “limited property options in terms of category and neighborhood in both the leasing and freehold industry”, the report said. Continue reading
Builders in the region are missing out on a current market chance as they fall short to take advantage on the significant inexpensive Dubai real estate target market a latest research has found. As per to the last document from investigation enterprise Colliers International, almost 50 per cent of the individuals in Dubai acquire in between Dhs9,000 to Dhs15,000 per thirty days and can only yield housing costs going from Dhs32,500 to Dhs54,000 per annum.
This has established a big difference in the market for excellent property where the most of the citizens are renters, the record said. “When we talk about cost-effective housing in Dubai real estate we are not mentioning to low-income living, but relatively property that is reasonably-priced for a residence in relation to its revenue,” said Ian Albert, territorial director at Colliers International. Continue reading