Dubai Real Estate Blog

Organised, structured payment plans will be winning factor in stimulating investors to buy Dubai has been built by bringing to light the fantastic vision of the developers that dared to dream big. Real estate, often seen as the scale on which the city's overall economic soundness is judged, continues to be going strong and gathering stability by attracting foreign investment worth billions and diversifying its offering from luxury to upscale and affordable properties, aimed at the growing mid-segment population. Despite a recent softening, real estate continues to be a preferred asset class among investors and the attractive payment plans and innovative offers from developers have gone a long way in securing buyer interest. Affordable housing Major developers are now providing a variety of cheaper, alternative homes suitable for a whole range of buyers. Nshama is offering apartments starting from Dh443,000, Azizi from Dh390,000 and Danube from as low as Dh320,000.

Trakheesi allows customers to obtain a range of permits to assist with their transactions The Dubai Land Department (DLD), through the Real Estate Regulatory Agency (Rera), has announced the issuance of nearly 500,000 real estate permits for real estate companies through the 'Trakheesi' system. Ali Abdulla Al Ali, director of real estate licensing department at Rera, said: "Achieving this number reflects the overwhelming approval of Trakheesi and the services it provides to customers in an easy, efficient and professional manner. It allows customers to obtain a range of permits to assist with their transactions in the highest degree of transparency and in harmony with the regulations and legislations in this sector." The electronic service systems in Trakheesi are easy to use, allowing for the immediate issuance of all types of permits at any time and without the need to go through Rera. Customers may obtain 15 types of approved real estate permits, includ

There has been a steady reallocation of funds towards ready properties so far this year With smaller developers exhausting post-handover payment plans and aggressive pricing for under-construction units, the off-plan market remains sluggish. Meanwhile, the larger developers are offering attractive incentives for ready properties. This has resulted in a steady reallocation of funds towards ready properties so far this year. Sports City is the sole apartment cluster to record a net gain in ready property sales during the first eight months of 2018 compared with a year ago - 610 ready units were sold, more than the 525 recorded same period last year. Discovery Gardens and Motor City saw a significant decrease in the number of ready units sold from January to August this year, according to data from GCP-Reidin. "Dubai Sports City is a desirable mid-income community that has been seeing consistent green shoots of recovery this year. High-end ready properties in Dubai Marina

It's been a summer of mixed messages for UAE real estate market observers. News dropped at the start of July that Dubai's sector slowed in the first half of the year with the value of deals done falling 16 per cent year on year, according to reports from the Dubai Land Department. Amid this downbeat market news, the UAE government buoyed spirits, announcing a 10-year UAE expat residency visa for professionals and 100 per cent foreign ownership of businesses outside as well as inside free zones. Prominent UAE real estate developers praised the new rules, saying they would stimulate the nation's owner-occupier market. However, following these consumer-friendly policy reforms, the UAE Central Bank announced a raft of new changes in their Amendment to the Regulations Regarding Banks Loans & Other Services Offered to Individual Customers document on June 19, 2018. Amongst a few modest fee reductions on personal loans was a massive home loan fee increase, the tripling o

The UAE has become the first country in the world to offer online or digital real estate services through a smart services hub, according to authorities.   The Abu Dhabi City Municipality (ADM) said on Sunday that it has collaborated with Abu Dhabi Islamic Bank in issuing the first digital mortgage certificate worldwide, a step that culminates the upsurge in the digitalization of services advocated by theDepartment of Urban Planning and Municipalities in response to the government directives.   It stems from the keenness of the Department to uplift the calibre of government services to rank them at par with the best in the world. It also measures up to clients aspirations and supports the sweeping development witnessed by the UAE at all fronts.   Saif Badr Al Qubaisi, Chairman of the Technology Committee at the Urban Planning and Municipalities Department said: "This giant step of issuing the first digital mortgage certificate in the world is a result of the great support and mo

The levy is expected to increase transparency, considering the rigid audit requirements When value-added tax (VAT) was introduced in the UAE and Saudi Arabia on January 1, 2018, initially stakeholders were wary on the potential impact of the new tax policy on the economy.  A study conducted by Alliance Business Centers Network said that the UAE would be least affected by the imposition of VAT because it is one of the lowest globally compared to countries such as the UK, Switzerland, Germany, Mexico, South Africa and Australia. The study revealed that the VAT in UK and France was 20 per cent, which is substantially higher than the five per cent implemented in the UAE and Saudi Arabia. With the adoption of VAT in the real estate sector, investors and stakeholders are weighing the impact on market valuations. According to Deloitte, in the UAE, commercial property is clustered in the taxable bracket and therefore the costs of buying or leasing such property are likely to